Freight Factoring | Factoring Express
Submit an invoice and get paid within 24 hours. Easy set-up process. No Contracts.
Don’t start a trucking business without a plan.
Get Ready: 1 – 2 – 3
1. Weigh your options.
• What kind of trucking operation will best suit your lifestyle?
• Should you focus on short runs or coast-to-coast trips?
• Will you run the business solo or hire employees?
• Will you lease or purchase a truck and/or trailer?
2. Create a business plan.
Did you know that nearly three quarters of all freight moved throughout the United States is handled by the trucking industry? Starting a trucking company is just smart, especially right now, when you can get a piece of that 70% of all freight.
If this is an area that interests you, the first question to answer is “how much does starting a trucking company cost?” Let’s take a look at the kind of investment you’ll be making in your own trucking business.
Natan Krivorutskiy started his trucking company back in 2014. It was a good year for the trucking industry and everything looked promising for starting a trucking business.
Relieved to have finally found an industry where he could enjoy an active role in managing a company, Natan decided to take a gamble and to take on loans to finance the purchase of an older truck. Unfortunately, it didn’t take long before he realized that trucking was anything but easy. Like many industries, trucking has its ups and downs and it can be difficult to get a steady cash flow going.
Every day business owners juggle the cash flow demands of their companies. More than ever, they are turning to invoice factoring as a trusted solution, even when banks decline loans and credit lines.
If you are considering accounts receivable funding it pays to be prepared. Save time and money by understanding these five tips before making application to factor your accounts receivable: [Read more…]
When a business is strapped for cash they often turn to factoring accounts receivable as a financing solution. Of course a factoring company expects to earn a profit on the cash advance and charges a fee for their service.
Since the overall goal is improved cash flow, a company considering accounts receivable financing will carefully weigh the benefits against the costs. Here are five ways a business can reduce or offset the cost of factoring and still improve cash flow: