Eight Things To Consider Before Selecting A Truck Factoring Company

Written by Business Success on . Posted in Factoring service for trucking, Transportation factoring companies, Trucking factoring service

The Federal Motor Carrier Safety Administration says that approximately 5.9 commercial motor vehicle drivers operate in the US and nearly 12 million trucks, rail cars, trains and other vessels move goods over the transportation network.

Trucks carry the largest share of freight by value, tons and ton-miles for shipments moving 750 miles or less. Rail is the preferred method for shipments greater than 750 miles. The LTL market is estimated at $35 billion and according to the U.S. Department of Transportation, the value of freight moved is expected to grow from $882 per ton in 2007 to $1,377 per ton in 2040.

When it comes to trucking, money is essential to keep the industry going. Many truckers use the services of load factoring companies to get paid sooner for the loads they deliver. With load factoring, companies will buy your company’s freight invoices at a discount, which gives your company fast access to money. Factoring companies can help small business and large business