Fuel Advance Programs for Trucking Companies
Keep Trucks on the Road with Fuel Advances up to 50%
There are three things in life you can always count on: death, taxes….and the high cost of fuel. Fuel is the biggest expense for truckers by far. Filling up the tank is a costly hassle and trucking companies and owner-operators have no choice but to keep their fuel tanks full. Goods need moved across the country, and therefore trucking companies need a seamless way to keep trucks in operation.
Unreliable cash flow is often part of the transportation business. Many shippers and brokers don’t offer quick-pays – and waiting 30, 45 or 60+ days to get paid may not be an option when trucking companies need to cover fuel and other expenses. Negative cash flow may force truckers to bypass higher paying loads (or settle for smaller hauls) because they don’t have enough cash for fuel.
Freight factoring companies provide an instant cash advance for freight bills. Fuel advance programs particularly benefit owner-operators and smaller fleets. When cash flow is tight, fuel advances provide instant cash to ensure trucking companies (and freight brokers) can take on more loads.
Start by requesting a free, no obligation quote
How Do Fuel Advances Work for Truckers?
With fuel advance programs, factoring companies will provide up to 50% of the freight bill amount upon pick up of the load.
The Freight Factoring Fuel Advance Process
1. Your trucking company submits a rate sheet and bill of lading to the factoring company to verify that the load was picked up (documents sent via fax).
2. The factor verifies the load and advances up to 50% . Fuel advances can be sent directly to your bank account or placed on your fuel card. Funding is received within a few short hours.
3. You deliver the load & receive the remainder of your advance like usual.
Speaking of Fuel Cards
How about alleviating pain at the pump with fuel discounts? Trucking companies who choose factoring are eligible to take part in a free fuel card program. Fuel cards offer fuel rebates at all major truck stops in the US and Canada. With factoring fuel cards, you’ll have 24/7 online account access, ATM access, reporting software to keep track of driver spending and additional features to help trucking companies and owner-operators manage costs. Fuel cards from Comdata & EFS are available and will save you money with every fill-up. Freight factoring fuel cards can be used for fuel, driver payroll, repairs, lodging, meals and all of your on-the-road expenses.
Take On More Loads
Haul more loads. Haul better loads. Freight factoring provides same day cash to keep your trucks on the road where they belong. Choose factoring and enjoy fast fuel advances that guarantee you’ll never be without necessary cash flow again. Learn more about our transportation factoring services and the benefits of having 24/7 access to cash.