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It can be hard for trucking companies to get a handle on fuel costs when the price remains high and constantly fluctuates. You may have set your gas budget for the month on the first and see the price jump 25 cents a gallon by the second. The high cost of fuel is even more challenging to deal with when a bulk of your company's income is tied up in unpaid accounts receivable invoices. 1st Commercial Credit offers a flexible line of credit to trucking companies based on the amount of money that is owed to your company. We process financing requests quickly to provide our customers with immediate access to cash flow.
More About Freight Factoring from 1st Commercial Credit
The unique demands of the trucking industry practically guarantee that all businesses will experience a cash flow shortage at some point. Besides fuel expenses, you must contend with repairs costs that you didn't plan for, uneven seasonal income, driver shortages and more. All of these situations require immediate access to cash. Instead of allowing your unpaid accounts receivable report to age more every day, forward us the invoices from your most credit worthy customers. You could have the cash flow you need by the next business day.
We Work with Trucking Companies of All Sizes and Types
Many of our account representatives have extensive training and experience with the trucking industry. We have broad-level knowledge of the industry as a whole in addition to detailed data about specialty services. The following types of trucking companies have received financing from 1st Commercial Credit in the past:
Companies with a single truck or a small fleet can apply with no monthly minimum sales requirements. We require freight brokers and trucking companies with mid-size and large fleets to take in at least $10,000 in monthly sales. We offer low financing rates, free credit checks and account set-up within three days for all types of trucking businesses.
Our Fuel Card Program is an Added Bonus
At 1st Commercial Credit, we don't forget about your trucking company once the initial transaction has taken place. Our account representatives work with you to help minimize expenses and bad debt while maximizing profit. The 1st Commercial Credit fuel card backed by EFS offers trucking customers direct funding of your fuel account. Until recently, we wired funds to our trucking customer's bank account and he or she had to wire funds to the fuel account. Our new method is faster and doesn't require the payment of numerous bank wire fees. With our fuel card, you also get spending controls for drivers, fuel tax reporting and access to fuel cost per unit. While we can't control the high price of gasoline, our fuel card program helps you manage costs efficiently.