Why Owner Operators Need Help from Truck Factoring Companies

Why Owner Operators Need Help from Truck Factoring Companies

Why Owner Operators Need Help from Truck Factoring Companies Running your own commercial truck can be rewarding— both economically and from a sense of pride in ownership. Running a successful business can be an elusive goal if you don’t have all the right pieces in place.

Truck Factoring as a Cash Flow Tool

Many owner operators are familiar with truck factoring as a cash flow tool—as a means to accelerate cash flow, the life blood of every business. But, did you know that partnering with the right factoring company, like Express Freight Finance, can also help your business run more smoothly and efficiently? Express Freight Finance offers much more than just their core service of freight bill factoring. They have products and services, such as MarketFIT, that can help you find the most favorable markets and lanes for your trucks.

Truck Dispatch help you find the most profitable loads

They also have other tools that can help you find the most profitable loads— basically that will move you out of taking loads from a position of “self-preservation” to taking command of load selection from the vantage point of what’s best for your business.

They can also help you find the best value when it comes time to renew your insurance, help you finance new equipment to expand your fleet, and they have advisors on their team to help you navigate the complexities of the trucking business. Even if your cash flow is adequate and you don’t think you need to factor your freight bills, consider these other things that Express Freight Finance can help with:

Consider this

  • Simplifying finding freight
  • Minimizing deadhead miles and maximizing loaded miles
  • Putting you in a better bargaining position with freight brokers
  • Finding the best paying loads
  • Avoiding the least favorable lanes
  • Maximizing fuel discounts
  • Easy access to cash through fuel advances

So, it’s not just about cash flow when you partner with the right factoring company. If you have the right factoring partner, like Express Freight Finance, you’ll have a clear path to success! Why Owner Operators Need Help from Truck Factoring Companies



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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