1st Commercial Credit

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Is Bank Lending The Way To Fuel Your Trucking Fleet?

Business happens fast when you own a trucking company. You may get a call from a client that has your truck and driver on the road in a matter of minutes to carry thousands of dollars of products to far off destinations. Running a trucking company requires focus and a talented staff who can adapt to change and find solutions to exceed your customers' expectations.

You also need a strong financial partner to help you keep your fleet on the road. For the daily funding needs of a trucking company, a bank can be too limited. For example, fuel is an ongoing expense that is best not financed by an expensive bank loan. The best approach is to utilize cash flow to pay for ongoing fuel expenses, but past due invoices can make that a challenge. That is why a good trucking company needs to know its options when it comes to choosing financial partners.

Fuel Is Important And Unpredictable

Fueling a fleet of trucks is a challenge because fuel prices change every day and you need an array of suppliers to make sure that you always have the proper quantities on hand. Most of the larger trucking companies have their own storage tanks and pumps on site, but those tanks need fuel and that is when a reliable supplier becomes essential.

Fuel expenses also need to be tracked very closely for tax and accounting purposes. If you allow your fuel costs to get out of control, then that can have a domino effect on the rest of your organization. That is yet another good reason why having a reliable financial partner is so important to your trucking company.

Long-Term Borrowing For Short-Term Needs

Bank lending comes with interest and service charges that enhance the debt. If you are utilizing a bank line of credit to pay for fuel costs, then you are paying interest that is compounded on a regular basis. Utilizing a bank loan to pay for fuel means paying installments each month for fuel that was bought and used in a matter of days, sometimes hours.

When it comes to short-term expenses such as fuel for your trucking fleet, the best solution is to utilize your company cash flow. But it can be difficult to rely on funding from your receivables when your customers are allowing their invoices to go 30 and 60 days past due. These are your recurring clients, so you need to find a solution that will get you the cash you need without damaging that lucrative relationship.

Find A Financial Partner That Has Experience In Trucking

1st Commercial Credit is the premier invoice factoring organization for small to medium sized trucking businesses all over the world. Our client list includes trucking companies, independent truckers and freight brokers of all sizes and types. We deal with long haulers, heavy haulers, reefers and specialty shippers as well. We know your business and we know what you need to be successful.

Those past due invoices that represent your company's slow cash flow are actually assets to your company's future. We can advance you the face value of those invoices and give you the cash flow you need to meet your fleet fueling needs. We also have special discount programs for fleet fueling that can save you even more money. Our years of experience in the trucking industry mean that we know exactly how to help your business grow.

1st Commercial Credit Works Quickly And Efficiently

Your fleet needs fuel right now, which is why 1st Commercial Credit has a streamlined process to get your receivables-based line of credit going. Our website has a two-page application that you can use to get the process started. In most cases, we can get you an answer back the same day that you submit your application.

There are no hidden fees, set-up fees or facility fees with a 1st Commercial Credit invoice funding account. We disclose all of our fees up front, and we will never hit you with a fee you were not expecting. After we approve your application, we can get your account set up in less than five business days. It only takes us 24 hours to transfer funds into your bank account after we receive a qualified invoice for an approved account.

Factoring Of Invoices Is Not Based On Your Credit Score

Many trucking companies become reliant on bank lending to meet their fuel obligations and that can lead to trouble with their corporate credit profile. We do not check your company's credit score. We are only interested in the legitimacy of your invoices and the credit scores of your clients. That means that we can help you whether you have good credit or bad credit.

We can also help start-up trucking companies to meet their fueling needs by using their invoices as collateral for cash advances. Whether your company just opened last week or you have been on the road for several years, we have a program that will help you to meet your obligations and keep your trucks on the road.

No Two Trucking Companies Are Alike

We have freight factoring programs that can be customized to meet your fleet's fueling needs. Our years of experience have taught us that no two trucking companies are alike, which means that each of our trucking clients gets customized treatment. We have invoice funding programs that will fit your needs and we have a variety of rates that we can use to make sure that you get the cash you need when you need it.

Save Time And Money With Accounts Receivable Financing

When you start an invoice funding program with 1st Commercial Credit, you will get a flexible line of credit that will follow the path of your invoiced sales. As your invoiced sales increase, so will your available cash flow. Because we tie all of our invoice funding activities directly to your receivables, we can take care of your funding needs the moment a qualified invoice is generated.

1st Commercial Credit will allow you to fuel your fleet without the burden of the recurring debt that bank lending can create. We invite you to take advantage of our fleet fueling programs and we also are ready to put together a customized invoice factoring program that will improve your cash flow and give you the reliable source of funding you need to keep your fleet of trucks on the road and taking care of clients.