How Busy Is Your Month of May?

May is the time of year when many of us feel overwhelmed with the number of things that we need to get done. From high school and college graduations to the end of the school year to Mother’s Day and Memorial Day celebrations, it can seem like you are catching yourself coming and going. Checks to graduates are flying out of our accounts faster than the gifts our own graduates are receiving. We are spending money on flowers and barbeque supplies at the same time we take days off work and deal with an extra day when the bank is closed. And while we may feel like we are meeting ourselves coming and going, the reality is we are actually only dealing with the schedules of four or five people. Imagine, if you will, being the logistics manager for a trucking industry who is in charge of monitoring and scheduling hundreds of drivers who travel thousands of miles to deliver millions of good across the country.

Every retailer wants their inventory in time for the next upcoming sale and every driver wants to be paid on time. Behind the scenes, of course, is the trucking company itself. A company that typically needs to meet payroll and cover any number of unexpected costs to maintain trucks even though they will not receive the money that is owed them for a couple of weeks or months. Fortunately, with factoring service for trucking companies, both large and small delivery companies are able to bridge the gap between expenses must be paid and income is received.

Trucking Factoring Companies Offer Important Financial Services to Both Large and Small Companies

America is a consumer driven economy and as more and more delivery options become available we expect to get the products that we need exactly when we want them. And while the latest news may be about the individual delivery of door to door deliveries and the possible use of drones to speed up this process, behind the scenes is the traditional trucking industry. You cannot, for instance, get the pair of shoes that you want for tomorrow’s graduation party if a trucking company had not first transported those shoes to the warehouse that will schedule your specific delivery.

Early in the overall shipping process, trucking companies often find themselves waiting for bills to be paid for them while at the same time already having to cover the costs of fuel, maintenance, and salaries. There are many times, in fact, when the money that is needed to pay expenses is not yet available. Factoring service for trucking providers help their clients navigate through these financially challenging times.

From regional to international factoring associations, it is common for companies of all size to use these services. Known as advance business capital factoring in other industries, a factoring service for trucking companies plays an important role in the success of many companies. For example, factoring companies can help small businesses bridge invoice payment gaps with upfront payments as high as 90% of the original invoice. Nearly 12 million trucks, rail cars, locomotives, and vessels move goods over the nation’s network of transportation. Many of them need gap funding to make sure that they are as successful as possible.

We may feel that we are busy in the month of May and the end of the school year, but trucking companies often find themselves not only delivering the back to school supplies that will be on retail shelves in the fall, but also the hottest selling gift items in November. Months before consumers are spending money on any of these items, trucking industries are already footing the bill for the delivery of these goods, often with the help of factoring service for trucking options.

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