Freight bill factoring is a great way to improve your cash flow especially if you have a new freight brokerage business. Financiers and banks usually require proof of profitable running of the business over the past three years at the least before they consider your case for approval of credit. If the age of your [...]
Owning a freight brokerage business can be extremely profitable, if you can manage to run it successfully. How can you determine that you have a successful freight brokerage business? This is easy. You have a successful business, when you are able to pay your drivers on time; you do not lose business on account of [...]
If you are in the trucking industry then you must be aware of how difficult it is to manage various expenses without enough cash in your hands. The payments that you are supposed to receive from your clients, government or non-government, usually come after a period of 30 to 90 days. In the meantime, you [...]
Factoring is basically a financial tool that aids you to get immediate money against your credit sales so that you do not need to wait too long before it matures. Factoring has been a part of the business sector for hundreds of years and has acquired a new shape with the changing needs. Factoring allows [...]
Trucks are a major means of door-to-door delivery of goods from small boxes, bakery products to large motor vehicles. Other modes of transport used are the trains, ships and airplanes. However even these goods have some amount of transportation by trucks involved. The truck drivers would be working for long hours starting from morning or [...]
Operating as a freight broker can economically be very profitable. At the same time it may also prove to be extremely difficult on account of the smooth and regular cash flow that is required to run the business profitably. As a freight broker you are expected to pay your drivers on time. In addition, you [...]
If you have been in the transport business for quite some time now, it’s quite likely that you are well aware of the importance of “Cash-in-hand” in this particular industry. Without cash, you just can’t move forward in the transport business because cash is required for virtually every transaction such as paying fuel bills, employee [...]