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Freight Factoring Keeps Truckers on the Move

FREIGHT FACTORING KEEPS TRUCKERS ON THE MOVE TRANSPORTATION COMPANIES FACEA NUMBER OF FINANCIAL SPEED BUMPS: RISING TRUCK SLIM POOR PAYROLL FUEL MAINTENANCE PROFIT CASH COSTS COSTS & REPAIR MARGINS FLOW FREIGHT FACTORING CANFIX CASH FLOW WOES COMMON IN THE TRUCKING INDUSTRY FREIGHT BILL TRUCKING COMPANIES MUST PAY THEIR BILLS AND EXPENSES IMMEDIATELY EVEN THOUGH THEY OFTEN DON'T GET PAID FOR 30-, 45- OR EVEN 60-DAYS AFTER THEY DELIVER THEIR LOAD. WITH FREIGHT BILL FACTORING, TRUCKING COMPANIES CAN GET CASH FAST WITHOUT HAVING TO WAIT FOR THE SHIPPER'S PAYMENTS. BENEFITS OF FREIGHT FACTORING INCLUDE: CASH WHEN YOU NEED IT, USUALLY IN 24 HOURS, NO NEED TO WAIT QUICK APPLICATION PROCESS, COMPLETE THE PAPERWORK IN LESS THAN AN HOUR GOOD CREDIT NOT NEEDED HANDLE YOUR COLLECTIONS, NO MORE CHASING CUSTOMERS FOR PAYMENT WITH NON-RECOURSE FACTORING, WE TAKE ON THE CREDIT RISK TRANSPARENT PROCESSING, NO HIDDEN FEES OR CHARGES KNOWLEDGEABLE ABOUT THE TRANSPORTATION INDUSTRY HOW DOES FREIGHT FACTORING WORK? SELL YOUR MOST CURRENT, CREDITWORTHY 1 INVOICES TO A REPUTABLE FACTORING INVOICE COMPANY. COLLECT UP TO 95% OF THE INVOICE RIGHT 2 AWAY AND THEN COLLECT THE REMAINDER WHEN THE SHIPPER REMITS PAYMENT TO THE FREIGHT FACTORING COMPANY. YOU PAY A LOW FEE FOR THE EXPEDITED 3 PROCESSING. USE THE CASH YOU GET FROM TRANSPORTATION FACTORING TO: IMPROVE YOUR TRUCKING COMPANY'S CASH FLOW TAKE ON NEW CUSTOMERS AND DELIVER MORE LOADS PAY FOR EXPENSES SUCH AS FUEL, PAYROLL, TRUCK MAINTENANCE, NEW EQUIPMENT AND MUCH MORE ENHANCE YOUR WORKING CAPITAL ADD NEW TRUCKS TO YOUR EXISTING FLEET WHAT KIND OF COMPANY QUALIFES FOR FREIGHT BILL FACTORING? ANY TYPE OF TRUCKING OR TRANSPORTATION INDIVIDUAL CONTRACTOR OR COMPANY CAN QUALIFY FOR FACTORING RECEIVABLES FROM A FREIGHT FACTORING COMPANY. SMALL COMPANIES WITH AS FEW AS ONE TRUCK CAN QUALIFY, AS CAN LARGE COMPANIES WITH FLEETS OF VEHICLES. FAIR GOOD POOR ALL YOU NEED IS CUSTOMERS THAT HAVE A SOLID CREDIT HISTORY AND A RECORD OF PAYING THEIR BILLS ON TIME. TRANSPORTATION FACTORING IS NECESSARY BECAUSE TRUCKING IS A SLIM-MARGIN INDUSTRY! THE TRUTH ABOUT TRUCKING AND TRANSPORTATION: ACCORDING TO THE AMERICAN TRANSPORTATION ATRI American RESEARCH INC. (ATRI), MOST TRANSPORTATION COMPANIES SPEND 95% OF REVENUE ON EXPENSES. Transportation Research Institute THAT LEAVES ONLY ABOUT 5% FOR PROFIT. TRUCKING ACCOUNTS FOR ALMOST 70% OF THE FREIGHT INDUSTRY GENERATING MORE THAN $255 BILLION IN REVENUE A YEAR. $39,000. THE ANNUAL SALARY OF THE AVERAGE TRUCK DRIVER IS NEARLY 9 MILLION PEOPLE IN THE U.S. WORK DIRECTLY OR INDIRECTLY IN THE TRUCKING OR TRANSPORTATION INDUSTRY. THE AVERAGE OPERATING COST FOR THE TRUCKING INDUSTRY IS $1.73 PER MILE AND $83.68 PER HOUR, ACCORDING TO THE ATRI (2008). ABOUT 15.5 MILLION TRUCKS CURRENTLY DRIVE ON THE ROADS. THE TRANSPORTATION AND TRUCKING INDUSTRY CONSUME ABOUT 13% OF ALL FUEL PURCHASED IN THE U.S. HOW BUSINESS FACTORS &FINANCE CAN HELP YOUR BUSINESS TALK TO A KNOWLEDGEABLE INVOICE FACTORING REPRESENTATIVE Our experts will look at the unique circumstances surrounding your business to help you figure out how factoring can help you improve your cash flow, working capital, manage your receivables and much more. There's no cost to speak with our representatives & they are available 24/7. MANAGE YOUR RECEIVABLES WITH OUR ONLINE MANAGEMENT SYSTEM Using a completely transparent process that is available online 24/7, clients who use our factoring services can stay on top of their receivables by logging on to our proprietary online management system. TAKE ADVANTAGE OF OUR FLEXIBLE TERMS With our invoice factoring services, you can decide which and how many invoices to factor, plus change it month to month based on your current needs and seasonal ups and downs. Flexibility keeps you in control of your capital! BUSINESS FACTORS & FIN ANCE SOURCES: http://quicktransportsolutions.com/blog/how-a-freight-broker-is-different-a-freight-forwarder/ http://www.truckinfo.net/trucking/stats.htm http://www.truckingoffice.com/2012/interesting-trucking-industry-statistics http://www.thetruckersreport.com/facts-about-trucks/ http://atri-online.org/ EXCELLENT VERY POOR

Freight Factoring Keeps Truckers on the Move

shared by SpectrumPPC on Jan 21
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A breakdown of how freight factoring assists the trucking business. Freight factoring is important to the transportation industry because it provides steady cash flow to cover expenses.

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