Factoring Service

It’s challenging enough operating a business — especially a small one or if you’re just starting out — and maintaining a reliable, steady cash flow can mean the difference between sinking or swimming. Unpaid invoices throw a huge wrench into the works, especially if you depend on the incoming funds for payroll or rent. That’s why we teamed up with RTS Financial to provide our clients with factoring services that can make all the difference in the way they do business.

Truck factoring — also known as freight factoring — allows carriers and owner-operators to turn unpaid invoices into cash. Essentially, a third-party factoring company for trucking will effectively buy those outstanding accounts receivable at an advance rate of usually 80% to 90% of the value and then collect on those unpaid invoices themselves. Factoring in the trucking industry means someone else takes the risk of non-payment. For many trucking companies, even getting a discounted amount for invoices is well worth getting the factoring services for trucking companies since they have immediate funds with which they can pay overhead costs or even take on additional work to make more money.

When the general public thinks of what truckers do, they often omit all the administrative duties from the picture. As the world moves into digitalization, there are other considerations, too, such as data and information security. Making sure you have all your mandatory documentation and that it is properly completed, filed, and kept takes up a good chunk of time and effort. This can be stressful in and of itself, but it can also add undue stress to operating your trucking enterprise. That’s where Logistics Fleet comes in.

There is so much more to trucking than driving. Sadly, we know that in reality, there are stringent requirements for paperwork, compliance with SAFETY/DOT and other regulations, and insurance – not to mention finding, negotiating, and booking loads. That’s why we cover everything – broker/carrier packages and set-up paperwork, W-9, proof of insurance and insurance certificates, rate confirmations, invoicing, waybills, bills of lading, and customs/transportation documents. We also handle requirements set out in customer agreements – directions to shipper or consignee and appointment scheduling.

At Logistics Fleet, we pride ourselves on our commitment to client care. Part of this is knowing the ins and outs of the trucking industry, which includes industry standards and regulatory requirements. We understand what is required, as well as why it’s required and who needs to see it. When we prepare, file, and manage trucking documentation, we are diligent, accurate, and ensure that everything that needs to be in the paperwork is there. We take your success very seriously – because your success is our success, too.

Logistics Fleet provides best-in-class management of trucking documentation by itself or as part of a more comprehensive dispatch service package. That’s because we know that different trucking businesses need different levels of support. Part of our no-nonsense approach to service is working with our clients to provide exactly what they need. We know you know your business better, and we aren’t here to sell you anything you don’t want.