A small trucking fleet faces challenges that are unique and cannot be solved using a cookie-cutter approach. We understand these challenges and are able to create unique solutions to help the trucking company out.
1st Commercial Credit has been involved in freight factoring for its entire history and has a comprehensive understanding of what it takes to keep the rigs on the road and the freight moving from the loading dock to the customer destination.
The issues for a small trucking fleet are recurring and often costly. Maintenance to vehicles, permits and renting special equipment are just some of the ongoing costs that require funding in a regular basis.
Past due invoices are not going to help pay the bills, which is why you need a freight factoring receivables company which can provide the reliable cash flow you need to meet your customer deadlines and continue to grow your business.
1st Commercial Credit also uses invoice financing to provide a reliable and sustainable business line of credit to any small trucking fleet that needs it.
Trucking and freight-related companies all have the same cash flow issue. They are constantly filling up fuel tanks and invoices on net 30-day terms with payments coming in after 35 to 55 days depending on the freight broker or direct shipper. 1st Commercial Credit provides cash flow lending options for freight companies within 24 hours of submitting the invoices or freight bills with signed bills of lading. We offer very affordable rates so your freight company can retain more profit.
Once a trucking customer is established, we can offer fuel credit lines, loans on insurance premiums, or repairs. We can deduct proceeds from the factored invoices until the loans are paid off.
A reefer trailer is a refrigerated truck that is temperature-controlled with cooling units. Trucking businesses using this kind of trailers are experiencing a great demand in the United States and other countries with larger economies.
The trailers used by these types of businesses are often newer. Refrigeration units typically need to be replaced every three to five years, which can be costly. Reefer trailers are one of the most cost-intensive vehicles for shipping and transportation. Therefore, they need a consistent and reliable source of financing.
1st Commercial Credit is proud to offer the versatility and flexibility a reefer trailer company needs. Our low rates and customized lending options give your business the power it needs to expand your fleet, replace and upgrade obsolete equipment, and grow your business. With over 20 years in business, we understand how important a healthy cash transportation business is to your business success. That’s why we have one of the fastest turnaround times for application, approval, and documentation for reefer trailer financing.
1st Commercial Credit offers financial services for the trucking industry and has a network of experts to assist the entire way. We are proud to provide a broad range of financing solutions for all sizes of businesses in many different credit situations.
A company that factors the trucking industry like 1st Commercial Credit makes freight factoring for reefer haulers easy when it comes to applying for reefer trailer financing and loans. Our main priority is to give you access to funding as soon as possible so you can carry on with running a successful business.
The U.S. cold storage market size was estimated at USD 15.84 billion in 2019 and reached USD 16.43 billion in 2020. The cold storage market is profoundly influenced by extensive demand for perishable goods and pharmaceuticals worldwide. 1st Commercial Credit understands the needs for the reefer trailer sector well; therefore, we offer various reefer trailer financing options to businesses all across the United States.
Managing cash flow is crucial for any trucking business. Truck payments, payroll, fuel, insurance, maintenance, and taxes are pressing costs that need to be covered. In addition, firms in this industry require a steady income to survive and grow. Most of the time, running daily operations while waiting 30, 60, or 90 days to pay for the loads is not feasible.
Freight invoice and load factoring is are the perfect financial solutions for small and large fleet owners, owner-operators, and brokers to sell their outstanding invoices to a factoring company at a slight discount. No more waiting weeks or months to receive payment when you can use our cash right away in exchange for your invoices.
Receivables financing has become a primary financial option for freight and trucking companies to gain immediate access to working capital. Freight factoring companies give you up to 97% of your unpaid invoices within 24 hours and take care of daily business operations. No more turning down contracts. Factoring companies for truckers will help you keep your wheels turning and continue growing your business every day.
What's The Freight Factoring Process Like?
Invoice factoring can immediately give your trucking company the push it needs to grow.
What Are the Benefits of Invoice Factoring?
Factoring receivables will allow your company to improve its cash flow and grow your trucking business. Three types of trucking businesses that can benefit from our freight factoring are fleet owners, owner-operators, and brokers. Some of the key benefits of trucking invoice factoring include:
Over the Road Truck Financing for new Trucking Companies
We will utilize our rapid approval process to let you know that your invoice is approved and you can get back to the job of moving that next load and generating revenue. In addition, we also facilitate a truck and trailer financing service called the OTR trucking finance program for those trucking and transportation companies with less than one year in operation or some with good credit scores but not enough comparable debt.
1st Commercial Credit continues to innovate and come up with the best financing alternatives to better serve all trucking and transportation-related industries in the USA and Canada. Our fuel card program offers competitive rates and deals so that truckers can continue moving the load to the destination. Many benefits come with using a fuel card over cash or a credit card, but the most significant benefit for truck drivers is receiving fuel discounts. Owner-operators and truck drivers are in charge of fuel purchases, and saving money on fuel should be a top priority.
1st Commercial Credit's mission is to help small to medium-sized trucking companies and larger fleets all across the nation. Our goal is for each client, regardless of the size of their fleet, to thrive while enjoying exceptional customer service and the best savings possible with our Fuel Card Program for Trucking Companies.