Freight Factors Trucker News

FMCSA opens utter period on EOBR

The Federal Motor Carrier Safety Administration on April 12 requested additional public comment on its Feb. 1 Notice of Proposed Rulemaking regarding mandatory electronic onboard recorders for commercial motor vehicle operators who must keep records of duty status.In its latest EOBR proposal and in a previous EOBR rulemaking published on April 5, 2010, FMCSA advised it is required by law to ensure that electronic devices are not used to harass CMV drivers resulting from invasion of their privacy, although they can be used by motor carriers to monitor productivity.


FMCSA said in light of recent litigation brought by the Owner-Operator Independent Drivers Association challenging the agency’s treatment of driver harassment in the first EOBR rulemaking, it wants to ensure that interested parties can comment on the issue in the current EOBR rulemaking.
The first EOBR rule is a final FMCSA action and remains under review by the Seventh Circuit, but FMCSA argued the rule properly protects drivers from harassment. The agency also will continue to accept and consider comments on all other issues within the scope of the proposed rule.

Business Owner Operators

Profitable Owner Operator Business Practices

To evaluate any business performance one need to draw out the difference between its income and expenditures. The difference between the two accounts for the profitability of a business. In case of the owner operator jobs, the income is calculated from the paid mileage per month. And the expenditure would include the installment for truck and trailer payments, licenses and permits, tolls, fuel cost, insurance, maintenance and repairs, road and fuel tax, office expenses, factoring services and salaries. The difference in the two will give an owner operator its profit from the business.
If the expenditure is reduced, the income is automatically increased and thus the profit. Few essential business practices to generate profits for owner operators and small trucking companies:
Thorough research of the pros and cons of the industry: You cannot jump into this with your head first. If you have experience as a driver and you know the industry well then you can look forward towards it. However, if you are new to the industry then you need to do your homework before starting with the venture. All calculations and feasibility should be kept in mind.
Emergency Fund: For an owner operator job to run smoothly and climb the ladder of success it is a must to maintain an emergency fund. In case of the truck breakdown or any other crisis you can utilize the fund to solve the problem so that you can get back to roads soon to avoid more loss.
Adequate use of Load boards: With modern innovations you can utilize the services of load boards by large found on the internet. This will help your truck keep going on the roads. With its regular usage you will not have to depend on the traditional methods of personal approach. You can directly get exposure to better deals and loads available for hauling.
Coping with Deadheads: Sometimes it becomes inevitable to avoid deadheads and you have to haul loads to such dead areas. In this case you need to increase your pay per miles so that the deal comes out to be profitable for you. If this doesn’t work out and you are in a situation to afford to sit idle for a day than do not take the load and wait for a better business deal.
Factoring and Insurance Services: If you can make use of a person who can handle your business accounts such as receivables and collections then you should not avail factoring services. This would increase your profit margin. Similarly before taking up an insurance do market research and get the best offer in it.
Negotiate Well: You would maximize your profit if you negotiate with the clients and brokers well. Always calculate the minimum level below which you would not finalize the deal. As you need work the businesses and brokers too need you. Be flexible but not too much, make your requirements clear.
To become a successful O/O you need to have motivation along with set plan of actions and business skills. You can only be successful if you want yourself to be successful.

Freight Factors

Impeccable Factoring Service by RTS

To get the needed working capital for making rapid progress and business expansion, factoring is a great way. It can boost your company with needed cash flow. This is not a loan type which banks normally offer. It is just paying you for your bills earlier than you would otherwise get it from your shipper. In this current world and economic condition its very effective and a great alternative for banks. For owner operators and small truckers freight factoring has become a very beneficial and reliable financing tool.

Freight factoring is a service which is provided by RTS and it’s a much featured service of them. Many extreme benefits are introduced by the company. The most promising features are:

  1. The invoice processing system is digital and also has a very easy account set up system.
  2. The credit card issued by the company has unlimited access and also has the access to the customers reporting services.
  3. Every customer can have their own and single account representative who will keep the record of their every transaction on factoring. The account representative of yours will always be at your service.
  4. There are no hidden fees. Every transaction is open to customer so that customers can know where they are charged and where not.
  5. The RTS factoring rates are highly competitive.

RTS can also provide many financial facilities for the trucking companies. It understands the necessity of capital in this field of business.  As trucking companies have a lot of expenses like fuel cost, insurance, payroll etc. So they may need immediate cash at many times. In their critical condition RTS can help them by providing immediate cash. The company will purchase the freight bills of the owner operators and will provide the needed cash flow for the owner operator jobs.

There are many businesses which fail to come out with their ideas only because of not having sufficient cash in hand. RTS Freight factoring is a great solution for them. There is no debt incurred on you in return of fast and reliable service. You can find information about them online and also can find many effective links there like transportation publications, load boards, weather info etc.

RTS has a wide range of publication all over the world. Many international companies are linked with them for their featured services. Thus the company is playing a vital role in the global economy. It is very much proficient in their work field.

The company is still developing in many sectors as it strives to strengthen the position more and also expand their market position. Because of its services many international companies have become successful in achieving their goal and are still on their way with RTS. The need of working capital to make any freight and trucking business successful can be fulfilled by acquiring the freight factoring services by RTS. The company is known for its fast funding. The company also provides funds for fuel if needed. They can become and act as your collection partner to tackle the tough shippers.

Freight Factors

Factoring with Orange Commercial Credit

If you are an owner operator or running a small trucking business, then this article will be very helpful for you to bring proficiency in your business and skills. Most of the time shipping and trucking companies face cash interruptions as they wait for the enlisted companies to whom they have provided the trucking services to pay for their work. Therefore to maintain continuous cash flow to your business, as an owner operator you can utilize factoring facility. Efficient freight factoring services is provided by many finance companies today.
By utilizing the facility of factoring, truckers get the payment immediately after the delivery of the goods. The payment is not dependent on the payment done by the shippers. The invoices of the trucking company are first purchased by the factoring company. The company does the payment against the bills to the trucker. This step is essential for small trucking business as there are many regular expenses to be tackled such as fuel, truck maintenance and repairs. Factoring can help you to get payment on time to full fill all these on going expenses.
In this world of technical advancement the factoring facility is also available online. You can utilize the factoring facility by simply connecting to the internet. Among the online factoring companies the name of “orange commercial credit” is well known because it is the name of trust and reliability.
Orange commercial credit is a company which provides very affordable rates of factoring which is less than 1%. And it is very quick cash providing company. So you don’t have to wait for 20 to 30 days to get your bill to be cleared. The Company provides different factoring programs depending on the size of the trucking business and the size of the trucks which are being utilized in the business.
Orange commercial credit provides the good credit management and credit information service. Through orange commercial credit you can also get the information of highest paying shippers and brokers by getting access to its load board. The load boards will also let the shippers contact you for their delivery order. The credit checking facility provided by the company is completely online. You can access the information of credit stored in a balance sheet. Company has the professional account operators to ensure the quality of the service provided. There is no debt incurred on you when your avail their factoring service. The company also provides invoice processing and collections services for your benefit.
Factoring facilities provided by the orange commercial credit can be easily availed by registering through their website. There is no registration fee or start up fee. You just have to fill up the form available and get an access to its freight factoring services. The company will provide you with immediate cash to keep your business going.
Orange commercial credit is providing the factoring facilities since 1986 so there is no doubt about its proficiency and reliability. The qualifying process is also easy thus making the whole factoring experience for the owner operators very quick and hassle free.

Freight Factors

Factor Loads: Factoring Solutions

Freight Factoring is a process by which the trucker can be paid immediately after delivering the load he has just transported. Independent truck drivers or smaller companies hire a factoring company to handle the collections on invoices. The factoring Company pays a portion or full amount of the freight bills minus their fees up front. Sometimes the factoring company holds the remainder in an escrow account, which cannot be touched until the company gets the receivables. This gives the trucker the needed cash for expenses he has incurred or will incur on the way home or to haul another load. The factoring company is then responsible for collecting on the bill. It might incur hiring legal help to collect on this debt or the customer may not pay for months at a time. By having a factoring company to handle all this, the independent trucker is free to get back on the road with further assignments.
Factor Loads factoring company is not a bank. They know it is important to keep truckers on the road. It is important to have a factoring company who understands how your business works otherwise they could not handle the finances of your business properly. Factor Loads is a master in the field because it is set up by the industry experts. They decided to fill the need of fellow truck drivers and owner operators like themselves.
The account management program offered by Factor loads can be found on their website and viewed at any time to keep the record of the account anytime you require.
The company offers non-recourse factoring programs that are mostly focused on owner-operators and small trucking companies. With non-recourse factoring, you will be paid on the same day the freight is factor through Factor Loads. You need not fear of the losses if the customer pay or does not pay as the bad debts will not be reverted to you.
Benefits of working with Factor Loads as compared with traditional freight factoring companies is that Factor load provides customized factoring service which is based on customer by customer and load by load. This will enable you to transact your reliable customers yourself and others you can get factored. You can access the database of your customers which are pre-approved. The factoring company will make the process very convenient for you with no freight bills requirement, no hidden fees and no monthly minimum bills to be factored. It is ideal for owner-operators and small carriers who are unable produce same volumes every month. Larger companies can use the services in the time of deficit.
The company offers new incentives as the fuel and maintenance discounts for your carriers. The spot factoring feature of the Factor Loads will help you to concentrate on the key areas of your business. This will give you the liberty of which invoice is to be factored at what time to maintain the efficient cash flow to your business. By factoring with Factor Loads you also get a complimentary loadboard account to ensure owner operator job flows.

Freight Factors

A Trusted Name in Freight Factoring

With the economic uncertainty today, getting the payment for the work you have done is really important. The easiest and the safest way to get the payment in the trucking industry today is through factoring. When considering freight factoring let us discuss the factoring services by 1st Commercial Credit LLC. This is the most reliable and best factoring services providing company in the United States.

A brief on what freight factoring is? Freight factoring is basically for the truckers or the trucking business. These truckers can immediately get the payment after completing their work through freight factoring even if the shippers who are using the trucking facilities have not paid the shipment charges. The freight factoring company releases funds for the carriers by purchasing invoices of the shipping company. Therefore, the interruption of cash flow is avoided for the survival and growth of the trucking business.

Choosing 1st Commercial Credit LLC as the Freight Factoring Company for You

Logistics and Freight Factoring have become so popular that you can easily get a good factoring service online. Online freight factoring company provides fast and efficient processing with minimum paper work. This way you save both time and money.

1st Commercial Credit is an online freight factoring company providing financial assistance to many owner operators, small and medium fleet businesses. The company is the largest of its kind providing varied asset based financial services such as equipment leasing, freight factoring, inventory financing and purchase order funding for new as well as old businesses.

1st Commercial Credit is expert in judging the capacity of your business and the long haul charges according to it. The company will provide funding for the fuel, maintenance, repair and other related charges of the trucks being used. This will avoid taking loans for such issues by the small businesses and owner operators. With the factoring and financial services by 1st Commercial Credit, the truckers will not suffer loss when the payment is delayed by the shippers.

1st Commercial Credit doesn’t require any financials and provides the factoring facility at a very affordable rate of 1.59% for 30 days for all sized trucking companies. The company provides free credit checks and facilitates the credit checking with in 15 minutes for new loads. There are no administration charges and application fees when you transact with 1st Commercial Credit. Broker and customer references are also provided on request. The initial funding is set up by the company in just 3 to 5 working days. The company would provide same day funding to the shippers and brokers who are already credit approved. Containerized freight and Intermodal hauling is also factored by the company.

Thus we see that 1st Commercial Credit is the company that knows in and out of the trucking industry and can assist in providing cash flow to your business instantly. Your long stuck freight bills can now be cleared within 24 hours and you can also indulge to haul more loads with increased cash flow. The factoring service of this company can be availed for businesses with just 1 truck to the one with more than 2000 trucks. The factoring amount per month ranges from $5000 to $10 million.

Business Freight Factors

Factor with Freight Check

Freight Check is the company that aids in freight factoring. The company provides fast and reliable solutions in the line. The professional and well trained staff at Freight Check makes the freight factoring experience for you a pleasant one. There are a number of features that make Freight Check shine among its competitors:

1.       Freight Check holds expertise in serving Small Trucking Companies and Owner Operators. It helps the newly started company to get introduced to new reliable brokers; they will provide the required credit to take care of the initial start up of the business. An accountant service can also be availed to maintain your business accounts. The online credit check and reports help you to control everything that is factored.

2.       The cash requirement is met immediately with the same day funding feature by the Freight Check. When the bill is purchased the complete payment against the bill is done, unlike other factoring companies which hold the part of the funds in reserve account. The fee applied for bills purchasing is same for all the bills and the money against the bills is deposited to the Comcheck directly or over the phone.

3.       The Freight Check provides you with your Comchek cards for free. This card can be issued to your company or your truck drivers. The card will help you keep track of all the transactions that are done with the card like ATM withdrawals, debit transactions, phone calls etc.

4.       The company provides you the flexibility to choose a certain broker of which all the freight bills are automatically factored by the Freight Check in future, unless you stop the process. The Account Management center of this factoring company also provides credit information of all important brokers so that you can be aware of the broker you will be hauling for.

5.       There is no minimum and maximum limit that should be factoring every month.

6.       The Freight Check also provides complete administration support such as correspondence, invoicing, fuel cards entry, accounts and reporting.

7.       There is no close ended contract like for 6 months or 1 year when you use the Freight Check factoring services.

8.       No debt is created only the amount equal to the bills receivables is paid to you. The process only helps you get your money quickly and there is no need for owner operators to wait for 30-60 day periods.

9.       The factoring service is non-recourse.

How to avail the factoring service of Freight Check?

The quick and efficient way to get the funds receivable in your hand within the same day you submit your freight bills is now possible through Freight Check. You can submit your freight bills by simply opening an online account. The user Id and password will be provided to you upon registration. Whenever you want to use the factoring service of the company simply login with the credentials to the Account Management Center of the company. The center will track all the information of your account. You can submit an online factoring application by selecting the particular broker after the delivering of load. You will be funded the full amount same day with the Comchek card.

Use our loadboard for further information on factoring services and owner operators jobs information

Freight Factors Freight Loads

Interstate Capital Corp: Freight Factoring Services

If you are in to some trucking business then this article will help you a lot to improve your business skills and business itself. Most of the times the cash flow of the shipping and trucking industries gets interrupted because they wait for the payment which is to be paid by the enlisted companies who utilize their services. So to avoid this interruption of cash flow freight factoring is utilized.

In freight factoring the truckers are immediately paid after they have completed their work. And this payment is not concerned with the payment of the shippers for which they are actually working. The freight factoring companies like Interstate Capital firstly purchases the shipping company’s invoices and then releases funds for the carriers. Shipping companies then pay to their invoices within 30 to 40 days. The owner operators in the trucking companies keep repairs, salaries, maintenance and fuel in their minds because these are the most vital expenditures of any trucking company. And these expenses are needed to be full filled regularly after a particular time interval. Utilizing freight factoring can help you to get the payment on time to full fill all these basic expenses
Now days this freight factoring facility is also available online you can utilize facility of freight factoring by simply getting an access to the internet. You have to invoice your trucking company with the freight factoring facility providers online and they will pay you the amount immediately. Among this freight factoring providers’ one name is “interstate capital”, which is a reliable online factoring facility providing company.
Interstate Capital provides categories of freight factoring facility depending on the size of the business and automobiles used for shipment or utilized in business. They also provide fuel advances up to 40 % which helps to manage the expenses of the trucking company. Factoring rates per invoice starts at as low as 0.49% per invoice. They will mail you the invoices regularly so that you must be informed. The company provides 24/7 access to the invoice records and reports through an efficient online system. Freight factoring is more reliable than taking loans, because of the fact that the Interstate Capital charges according to the payer’s payment scale and then makes their decisions. And it is very easy to get factoring as compared to getting the loan for your business because while getting loan you have to full fill certain formalities, while Interstate Capital online proposal takes just 2 minutes. And it takes only 3 business days to fund the freight companies.
While availing the freight factoring facility, Interstate Capital provides you with the professional services of preparation of the invoices, their postage and collection. The company also provide you funding without considering the original bill of shipment and the fund transfer is also online, so it is completely electronic, which is the need of recent times. The payment is posted every day on time with out any delay. There we see that Interstate Capital gives fast and efficient solutions for the smooth running of the trucking business.
Get more of information on freight factoring at our Freight Load Board.