Is Factoring Better than Quick Pay?

Is Factoring Better than Quick Pay

Is Factoring Better than Quick Pay? woking with a truck dispatch services is one of the best actions working with truck dispatchers USA

Quick Pay for Truck Drivers CDL

I’ve talked to a lot of truckers over the years, and often hear how they would rather take a broker’s quick pay than jump into a relationship with a factoring company. While quick pays are one way to accelerate getting paid, it’s not necessarily the best business decision. Why?

Well, ask yourself this simple question: what do you get in a broker quick pay? You get your money sooner than if you wait the typical pay term of 30 to 45 days. That’s it. And, sometimes quick pay, from the broker’s perspective, is 48-hours to five days. That doesn’t seem very “quick”. Oh, and it isn’t free! You have to give up 2 to 5% of the gross load pay to get that so called quick pay. If you are going to give up that much, you may as well get as much as you can for that 2 to 5% quick pay fee. What if in addition to getting paid fast, you can also get:

  • Pago el mismo día
  • Perspectivas de carriles y mercados
  • Encontrar carga
  • Financiamiento de equipos
  • Ayuda para encontrar un seguro o con renovaciones
  • Descuentos en combustible
  • Anticipos de combustible
  • Aplicación TMS
  • Servicios de despacho
  • Ayuda con el cumplimiento

Express freight Finance

When you partner with Express Freight Finance, you get all of these services rolled up in their overall service offerings. You can pick and choose which to take advantage of. On top of all of this, you get an industry expert as a business partner; someone you can grow to count on to help your business achieve success and longevity. With no up-front cost to get into the relationship, no requirement to factor all of your customers, and no minimum factoring volume of fee requirement, you can’t go wrong partnering with Express Freight Finance. They can help you succeed regardless of market conditions. Why wait? Make that call now and get on the road to success.



Truck Factoring your freight bills

TruckFactoring your freight bills is a great way to ensure you will have the cash flow needed to meet your business’s financial obligations on time. Factoring your freight bills can:

  • Provide steady, predictable cash flow

  • Enable you to pay your bills on time

  • Help improve driver retention

  • Help build your business credit

  • Reduce non-payment on invoices




WHAT DOES TRUCKS DISPATCH SERVICES NEED FROM ME TO GET STARTED?


MC #’s can be acquired from the FMCSA

Since ‘Uncle Sam’s likes accurate records being kept, we make sure to dot all of our i’s and cross all of our t’s.

This is the minimum requirement. If you’d like to have more peace of mind with higher coverage, that’s fine by us.

This is a common practice for shippers, brokers and dispatchers alike.

In order to make sure all safety and compliance ordinances by the government are being met, we need to keep accurate records.



Industry Trends

Industry TrendsWEEKMONTHYEAR
Spot Market Loads +10% +46% +92%
Spot Market Capacity -1.5% +12% +1.7%
Van Load To Truck +11% +30% +98%
Van Rates(spot) +0.0% +0.6% +7.2
Flatbed Load To Truck +20% +38% +109%
Flat Rates(spot) +0.0% +3.6% +9.1%
Reefer Load To Truck +2.4% +31% +109%
Reefer Rates (Spot) +0.0% +0.5% +5.1%
Fuel Prices +0.6% -0.6% +22%


Todays Rates


Truck Dispatch the USA for Dry Vans, Reefer, Flat-Bed, and Step decks We have the best loads for Truck

12-04-2022

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