Online trucking forums are one of the best resources for new and growing trucking companies. Most forums have seasoned truckers that participate in daily conversations and are willing to help fellow drivers. If you are interested in becoming a successful owner-operator, consider participating in these forums. These forums can provide advice on how to start, […]
What is Asset Based Lending?
Asset based lending is a form of financing that allows a business to leverage existing company assets. The line can provide your company with funding to pay for operating expenses, handle an acquisition or make new investments. Most asset based loans are structured to operate like either a line of credit or a term loan. The […]
How to Offer Early Payment Discounts – 2% / 10 Net 30
One of the problems of offering net-30 terms (or longer) to customers is that it can create cash flow problems. Many companies provide payment discounts to clients to improve their cash flow. In this article, we discuss how early payment discounts work and how to offer them to clients in an effective manner. We cover: […]
How to Find Loads for Truckers (Canada)
Finding profitable truck loads is the most important thing an owner-operator can do to succeed. Without regular shippers, you don’t have a business. It’s as simple as that. However, this area is where most owner-operators and small fleet operators fail. This article shows you how to find profitable loads to grow your business. We cover: […]
Types of Factoring Financing – Recourse and Non-Recourse
In general, Canadian factoring companies offer two different types of factoring: recourse and non-recourse factoring. This article helps you understand how each of these programs works. We cover: What is factoring? Recourse factoring Non-recourse factoring How are problem payments handled? Which one is better? 1. What is factoring? Factoring is a solution that allows companies […]
Industries That Use Factoring
Factoring has been gaining traction in Canada as a financing solution that can help companies with cash flow problems due to slow-paying clients. This solution is flexible enough that it can be used in most industries that serve commercial or government clients. To learn more about factoring, read “What is Factoring?” What type of businesses can […]
Factoring in Canada
Factoring is a form of business financing that has been gaining popularity in Canada. It helps companies with cash flow problems because their clients pay their invoices in 30 to 60 days. This article explains how factoring works and covers: How does factoring work? The role of factoring What are the benefits? How much does […]
Selecting a Factoring Company in Québec
Factoring financing has been gaining popularity across Canada as a solution to finance companies that need to improve their cash flow. However, Québec is a unique market when it comes to factoring. This is due to the process the factor must follow to secure the accounts receivable and the need for bilingual personnel. As a […]
Owner-Operator Financing in Canada
Transitioning from being a trucker driver to becoming an owner-operator can be very rewarding. It can also be very stressful. You are faced with finding the right way to finance your new business. This task can be a challenge, especially for truck drivers who are not familiar with running a business. This article covers the […]
What is a Load Board for Truckers?
A load board is a website that matches freight shippers (and brokers) with carriers. Shippers and brokers post loads that need hauling. Likewise, owner-operators and fleets can post their available capacity. Load boards allow shippers and carriers to find each other and enter commercial agreements to move the freight. This article covers: What services do […]