Small Business Loans for Truckers

Posted by Gil Oliva on Fri, Dec 05, 2014 @ 10:07 AM

The demand for services from trucking companies continues to increase. How will your trucking company accommodate the rising demand? The future holds great opportunity, so what type of commercial financing solution would be the best for you?

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Topics: Freight Factoring for Trucking Companies, Fuel Advance Factoring for Trucking Companies, Small business loan

How can I use Invoice Factoring for Cash Flow?

Posted by Gil Oliva on Fri, Sep 05, 2014 @ 07:48 AM

Why do we talk about cash flow so much? Because successful business is ultimately all about cash flow. It is always good to revisit the benefits of invoice factoring when it comes to cash flow management.

Just to clarify the role of a factor for those of you new to our blog, or to the process of factoring: Companies that are either struggling with cash flow or slow-paying customers can sell their invoices or accounts receivable to a factor. The factor advances the vast majority of the invoice amount, usually between 70 to 90%, once the credit-worthiness of the billed customer is checked. When the invoice is paid, the factor remits the balance, minus a small factoring fee.

So it is immediately apparent how factoring can help cash flow. Not having to wait 30-90 days for payment on outstanding invoices gives a company the ability to utilize that money immediately to pay bills or grow.

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Topics: Fuel Advance Factoring for Trucking Companies, Payroll Advance Program for Staffing Agencies, About Invoice Factoring

How Can a Fuel Advance Program Help my Trucking Business?

Posted by Steve Barthol on Wed, Aug 20, 2014 @ 07:55 AM

If you were to ask small to medium sized trucking companies what it is they consistently struggle with, the frequent answer would be covering fuel costs while on the road.

Customers can often take many days to pay their invoices, depending upon the agreement in place, or sometimes just because they pay late. Late payment means less money to pay bills and cover operating costs. Filling up with fuel to deliver a load is a fundamental cost, which has to be covered in order to deliver the load. With the fuel advance program from Bay View Funding, the working capital needed to cover the cost of fuel can be obtained prior to load delivery. This means no more worry about fluctuations in gas prices, or decisions about which bills not to pay to make sure the gas cost is covered.

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Topics: Freight Factoring for Trucking Companies, Fuel Advance Factoring for Trucking Companies, Financing Government Contractors

What is Fuel Advance Factoring?

Posted by Gil Oliva on Fri, Jul 11, 2014 @ 08:00 AM

The Fuel Advance Program can be offered by factoring companies and is often provided in tandem with freight bill factoring.

While freight bill factoring is a great way to receive immediate cash flow for work completed, the fuel advance program allows you to pay for much needed fuel while on the road, prior to completion of work. This is particularly useful if you are a small to medium trucking company with a cash flow shortage.

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Topics: Cash Flow Solution, Fuel Cards for Trucking Companies, Freight Factoring for Trucking Companies, Fuel Advance Factoring for Trucking Companies

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