Skip to Content

Blog Archives

TRU Funding LLC Contact

By

in

News

Posted

October 20, 2020 at 7:55 pm

Freight factoring and how it benefits your business?

It’s 2020, trucking companies are basically those which keep our economy moving these days! Market rates are blooming, truck drivers are more than needed in every company, and factoring companies are there to step in and help out both carriers and brokers!

Whether you have one truck or a huge fleet, you can benefit from choosing the right freight factoring for your business.

Factoring, what is that?

Let us explain you the process real quick:

First of all, it is NOT a loan, the factoring company buys invoices from your company within 24 hours of delivery and charges a small percentage. The factor takes on the burden of collecting unpaid invoices from brokers and once they are fully collected, the factoring company you entrusted your business with, pays you the rest of contracted amount.

So, how does this benefit me?

Trucking companies transport loads all across the country on a daily basis, they deliver loads and sometimes have to wait up to 90 days for payment. Meanwhile, you need cashflow in order to cover your weekly expenses, such as the cost of fuel, to pay employees, keep trucks serviced, insurance, rent, etc. Simply said – they are laying out a lot of money for operating costs.

And this is where we step in, TruFunding LLC will provide you with immediate cash flow to help your business operate. It eliminates the wait period for your payment and within 24 hours of contracting, you will have cash.

This cash flow enables you to expand your fleet, hire more drivers, eliminate unnecessary accounts receivable positions, lower risk, etc.

And here is what to do if you need more information or you want are ready to get started:

Sign up online for free on our website www.trufunding.net or contact us today to speak with one of our highly skilled representatives +1 866 706 0919

0 0 Continue Reading →
trufunding-contact-roads-bg

By

in

News

Posted

September 17, 2020 at 7:28 pm

Market rates reached almost an All-time Highs

In just five months, prices have risen by 62 cents per mile in what is known as the largest uninterrupted rate rally of the last five years.

According to  DAT Freight & Analytics, which operates the industry’s largest online marketplace, The DAT Truckload Volume Index, rose 1.1% from last month and is 0.8% higher than August 2019.

They stated that: “Volatility in shipper networks due to shifting consumer purchasing spilled over to the spot market. For instance, commercial food service is way down, but grocery purchases are up,” said Ken Adamo, chief of analytics at DAT. “Asset-based carriers continued to honor their committed volumes but didn’t necessarily provide additional surge capacity. As a result, the number of available loads increased, and prices rose to attract additional capacity.”

In August nationwide, the spot van rate averaged $2.22 per mile, up 19 cents compared to July and 41 cents higher compared to August 2019. The average spot line-haul rate for vans (the overall rate minus fuel surcharges) at $2.02 per mile was the highest monthly national average ever. And for the first time since January 2018 surpassed the national average contract rate.

 

DAT Freight Outlook

  • Weather and wildfires are likely to have an impact on supply chains in the near term, disrupting regular freight networks and creating a higher rate environment due to constraints on capacity. Hurricanes can lead to a tightening of flatbed capacity as machinery and building supplies are needed for recovery efforts.
  • Tight inter-modal capacity and substantial rail surcharges at West Coast ports may force smaller shippers to consider switching to long-haul truckload carriers, especially out of Los Angeles and Long Beach. This would put further strain on spot market van capacity.
  • DAT iQ, the company’s analytics business, now incorporates insights on contract truckload freight from DAT’s Freight Market Intelligence Consortium, acquired in June. FMIC’s Pulse Signal report in August concluded that while July contract freight volumes were flat, shippers increased their load volumes on the spot market from 12-15% on average to approximately 21%. This is a reflection of volatile demand for truckload capacity and of supply chains remaining out of balance.

Source: trucker.com

0 0 Continue Reading →