Truck Factoring – One Solution For Many Needs

By Author: Barbara Moori
Total Articles: 5
Comment this article

Truck factoring is truly a single solution for most of your problems, if you are a goods transporter. Perhaps its other name ‘freight bill factoring’ gives you even a better idea about what exactly it is. You can get a ‘loan’ against the transport bills, have information about loads available for shipping in your vicinity, have fuel cards and even enjoy a discount on your vehicle insurance.

You can get all this help from a single trucking factoring organization, instead of running around to the bank, credit card issuer and an insurance issuer and it is interesting to learn how factoring works.

Important Service from Freight Bill Factoring Company:
Freight bill factoring in its basic form operates this way. The factoring company is a medium between shippers and truckers as also freight brokers. Truckers of any size, single truck-owning and self-operating transporter or fleet carriers can avail these services.
Let us see how it benefits, if you are a transporter. Once you submit the transport bill, the trucking factoring company ‘discounts’ the bill up to 90% and credits the amount to your ...
... account. In effect, this method is an on the spot loan and you get the balance 10% once the shipper pays the bill to the factoring company.

There is an interest and service charge of course and the rates vary from factor to factor. A little bit of research will help you to identify a reliable organization that charges you right.

Load Boards from Truck Factoring Company:
If you are a single truck owner, you are likely to be the part of more harassed lot in transport industry; always short of time and finding it difficult to follow up on bills and find loads. After delivering a load, you may running empty miles, just because you couldn’t find a suitable load in the vicinity.

‘Load boards,’ which a few truck factoring companies operate, is an exceptional business information source for truckers. The information, posted on the website will help you to know about ready-to-ship loads in your surroundings; and you will know which are approved for credit. You can get hold of best lane rates and best of all avail collection assistance. The freight bill factoring sends an Email alert too, if there is load suitable for you.

For both fleet carriers and single truck owners, the load board is of immense help in cutting down on vehicles running empty or waiting time.
Shippers and freight brokers too should find load boards valuable in obtaining immediate transport, credit facility and most importantly a trusted transporters.

Truck Factoring By Experts:
Vehicle insurance, financing or renting equipment, fuel cards are other types of assistance that a few truck factoring companies offer. But, if you want to be sure of reasonable charges, reliable service, you have to naturally choose an organization that is run by people with experience in the field.

Only a trucker will be able to understand another trucker; and come up with suitable help.