How to Avoid Getting Burned in Your Factoring Contract

How to Avoid Getting Burned in Your Factoring Contract

The freight hauling industry is a cash-intensive business and factoring has evolved into a complex web of providers, some of whom are honest and well-meaning professionals that will work hard to assist you in obtaining the cash flow necessary for ongoing operations....
What Do Factoring Companies Charge?

What Do Factoring Companies Charge?

Factoring Rates Most factoring companies charge a rate based on a % basis, that is they charge a fee that is a % of the amount that is factored.  These % fees will depend on the amount of money factored.  Generally speaking, the greater the amount of money factored...
The Real Cost Of Trucking

The Real Cost Of Trucking

The real cost of trucking is broken down in the following infographic from the Truckers Report. Fuel costs lead the charge against your profit averaging 39% of total operating costs.  All-in costs yield a $1.38 per mile operating expense, about $180,000 per year per...
More Interstate Tolls Coming

More Interstate Tolls Coming

I71 and I-75 merge together briefly at Cincinnati  Ohio and then pull back apart 20 miles later in Northern Kentucky.  The Brent Spence Bridge collects these two interstates in Cincinnati and then funnels them together across the Ohio River.   This confluence in...

Factoring Credit Checks – Understanding Who And Why

In the process of qualifying a new client for a new freight factoring account, we will pull credit on both our clients’ customers, also called the debtors; as well as the credit history of all principal owners of the clients’ business.  Most clients understand why we...

Trucking Over The Fiscal Cliff

It is hard to walk down the street without having to endure some news about the impending doom known as the Fiscal Cliff. The purpose of this post is not to rehash in excruciating detail what the Fiscal Cliff is but to offer a perspective on how it impacts the...

California Transport Refrigeration Unit (TRU) Regulation Compliance

California, the bastion of state governmental interference regulation,  will see compliance to the Transport Refrigeration Unit (TRU) updated to include all model year 2005 and older units as of 12/31/2012.  The  regulation has been in existence since 2004 but the end...

Driver Shortage Fuels Dedicated Fleets

The Fort Wayne Journal Gazette published an article recently about how the impact of driver shortages has led large shippers, particularly in retail and perishable food to look closer at having dedicated fleet services.  Stores Favor Dedicated Fleets points out that...

Factoring and Bank Lending

I signed a client this month that was using his local community bank to cash flow his business.  They had done a great job over the past few years but after his business doubled in sales the bank was unable to extend the credit he needed to grow even more.  This has...

Factoring Questions and Answers

We take freight factoring sales calls every day and receive a huge array of freight factoring questions.  Here are some quick answers to our most popular questions:     Q: What are your factoring fees? A: Rates will vary based on volume you want to factor....