WHY IS CASH FLOW IMPORTANT IN TRUCKING?
When you ask small business owners what’s important to them, most will tell you three things: cash flow, reducing expenses, and increasing operating efficiencies.
Running a trucking business is no different. Cash is king, and where and how fast owners get cash is integral to keeping businesses running.
However, this is a big problem for many small to mid-sized trucking companies. Many shippers or brokers will pay truckers net 30 days or net 45 days.
Trucking companies simply cannot wait for the 30 to 45 days it takes to get their money for hauling a load. They need it immediately to pay drivers, pay for fuel, and keep their trucks in tip-top shape.
There are many limitations to optimizing cash flow on your own. Improvements can be made that will benefit your business, and working with a factoring services partner can make these optimizations even easier.
Learn More Here: Is Freight Factoring Worth It?
THE BENEFITS OF WORKING WITH A FREIGHT FACTORING COMPANY YOU TRUST
Offloading items that take up necessary family time and work-life balance, is just one of the benefits. Along with this, you’ll notice:
Access to funds the same day you complete your loads.
Waiting 45 days to get paid isn’t an option for many truckers. You should be able to get fast and easy access to your cash from completed loads, as well as a rock-solid business partner that can bring you peace of mind.
Business tools that make your life easier.
A good factoring partner will have tools and expertise that help you with everything you need, not just same-day cash.
Discounts to reduce your business expenses.
Look for a partner that has discounts on everything you need, such as fuel and tires.
Learn More Here: TOP 3 THINGS TO LOOK FOR IN YOUR NEXT FACTORING AGREEMENT
EASE AND PEACE OF MIND IS SOMETHING ALL SMALL BUSINESS OWNERS SHOULD BE ABLE TO ACHIEVE
The key in general, is finding the right partner. They should’ve walked miles in your shoes and deeply understand what it takes to make that ride easier.
Here’s how we work with small to mid-size trucking companies and independent truckers:
We can get you your funds in 30–40 minutes. Select “wire” for your funding method, and once your load paperwork is processed, disbursed funds show up in your account 30 to 40 minutes after we initiate the wire.
Fuel cards to reduce expenses. Add our fuel card/fuel discounts to reduce expenses, and you will maximize your bottom line with your increased revenue and reduced expenses.
Funds are immediately available in your fuel account. Have an EFF fuel card? Just tell us to disburse your funds to your fuel account. Once we hit the “go” button, the cash is immediately available in your account.
Here We Answer The Most Important Question For Truckers: Why Wait On Payments From Brokers And Shippers?
Intelligent tools to help you succeed. Great tools like our MarketIntel report and Load Profitability Calculator can help maximize your loaded miles.
In the long run, you can get cheap factoring and your business can still fail. But with a partner like EFF, our product and service offerings, and our commitment to helping you succeed, your chances of success grew exponentially.
WANT TO IMPROVE YOUR CASH FLOW AND GIVE YOUR BUSINESS SOME BREATHING ROOM?
If you’re waiting for an invoice to be paid, that’s time wasted and money out of your pocket. Contact us today to learn more.
EFF – helping you become smarter by the mile.