The Benefits of Freight Factoring for Small Trucking Businesses

In 2022, the U.S. Department of Transportation reported there were 1.1 million for-hire trucking companies, 718,594 private carriers, and 153,191 for-hire/private carriers. Of those companies, 95.7% have no more than 10 trucks. Small trucking businesses make up a major part …

If you go back about 30 years, the way a trucking company got paid is a lot different than today. Traditionally, trucking companies wrote out invoices by hand or used a typewriter and carbon paper to get duplicate copies. Those …

An owner-operator truck driver enjoys a wealth of benefits that others may never see. You’re independent and do not have to answer to a boss. It’s your truck, you’re the driver, and you set and choose the clients you want. …

As a business owner, you want your business to thrive. Growing from a trucking company with one or two trucks to a full fleet is your goal, but to reach it, you must invest wisely. Have you considered the value …

Trucking companies are a crucial part of the global economy. Over 72% of the nation’s freight (10.93 billion tons in 2021) was moved by trucks. Commercial trucks paid close to $48.5 billion in both state and federal taxes for fuel, …

The freight broker market can be turbulent, with brokers constantly coming and going. It is crucial for clients to interact with reputable brokers and receive real-time updates on their credit ratings. The credit score of a broker might fluctuate hour …

One of the most stressful decisions a company can make is finding the right financial partners. Low rates are great, but they’re not ideal if it’s impossible to get help when you need it. You want to start factoring your …

Cutting your trucking company’s expenses makes a big difference when it comes to running your business. Some companies avoid real-time load tracking due to the equipment cost and the monthly subscription. Brands and subscription services vary, but it can cost …

The economy has been anything but steady lately, and all of this turbulence has some people worried about their financial standing. After a rate increase, it can take a couple of billing cycles before adjustable loans and credit card interest …

You’ve heard the term invoice factoring while trying to find a faster way to get paid. You’ve also seen freight factoring popping up in the same search. You’re confused and don’t understand what the differences are. Are they the same …