Improving Cash Flow Tips For Truckers
posted by Jeff Novak: Wednesday, April 01, 2009

In the Small Business Section of the New York Times.com there was an article yesterday on how small businesses can improve their cash flow. Much of the article can be beneficial to individual truckers and small fleets. The article starts by defining cash flow which is simply tracking the amount of cash coming in minus the amount of cash going out over a certain time period.

The first step is to check a potential clients credit references before they become a client. For truckers this would mean checking the credit references for a freight load you plan on delivering. This way you know after you deliver a load, you will get paid for your services in a timely manner. One of the advantages to using TruckerFunds.com to factor your freight bills is we will do bank and/or trade references for our clients free of charge, often times very quickly. That way you know before you get a load, if you will get paid.

The second bit of advice is to Bill Early. A business is not going to get paid until they are invoiced, so by billing them sooner, the faster your business will receive payment. As a trucker, this is difficult, as you are on the road all the time and freight billing and collecting can be time consuming and take you off the road. TruckerFunds.com alleviates this concern, as you invoice, simply fax or Fedex us your invoice and we will fund your account often the same daywith up to 90% of the invoice. TruckerFunds.com will then collect the rest of the invoice and pay the difference to you minus our fees.

If your business is interested in learning more about freight factoring and how you can get paid on your invoices faster, visit our website or call one of our knowledgable business development officers at 866-950-6669 or fill out a quick quote.