Pressure Washing Company
Long Haul Trucking Company
Payroll is an important business expense for any organization, but it is especially important for a trucking company because a trucking company relies a great deal on timing and teamwork. In order for a trucking company to find success, it needs to have dedicated and talented employees who are willing to do whatever it takes to meet customer deadlines and exceed customer expectations. But a team can only go so far when payroll funding problems start to pop up. There are many different kinds of trained professionals who work for a trucking company, and they all expect their paychecks to be on time.
There are many different kinds of trucking companies in the world, and they all have to be sure to meet their payroll obligations. The most common type of trucking company are the regional haulers that do their runs in one day. But the trucking company that most people think of are the long haulers that take to the freeways and spend days going from point A to point B. Whether your company is a long hauler or a regional carrier, you are going to have very similar personnel needs. The long hauler's personnel needs may be on a larger scale, but they still have the same basic needs as every other trucking company.
Payroll Needs For Trucking Companies Do Not Stop At The Drivers
People who are unfamiliar with how the trucking industry works are always surprised to hear just how many skilled employees it takes to run a successful trucking company. The drivers must be experienced and skilled if the company wants to get its deliveries to customer locations on time, but the professional dispatchers are the ones who set up the schedules that make sure that customers get their product by their deadlines. Along with the dispatchers, there are also the sales professionals that find the shippers who provide the business. Some trucking companies utilize their own sales staff, while others turn to professional freight brokers.
Trucking companies also employee a staff of experienced and certified mechanics who keep the rigs running. Most trucking companies also have mechanic helpers who do routine maintenance and keep the shop clean and safe. There is an office staff who have to keep company correspondence in order as well as providing support to the sales and dispatch personnel. All of those employees would never get their paychecks without the efforts of the company's accounting staff. The personnel roster of a trucking company of any size contains a wide variety of professionals and employees who all expect payroll to be funded on time and in full.
Past Due Shipper Invoices Become A Problem For Trucking Companies
The trucking companies that do not utilize freight brokers have the added responsibility of collecting from shippers. A company that does utilize a freight broker only has to worry about collecting revenue from the brokers and most brokers understand the importance of paying their carriers on time. But shippers can sometimes take a while to pay their invoices, and that starts a chain reaction that causes the shipping company to consider making some difficult decisions. It is common for shippers to take months to pay their invoices, which leaves the trucking company in a bind when it comes to funding payroll.
Trucking company employees put in a lot of hours and work very hard and they expect to be paid on time. The trucking company is always better off finding payroll funding answers as opposed to delaying payroll. Talented mechanics and experienced dispatchers know that the trucking industry is a competitive place, which means that they do have options. The best way for a trucking company to keep all of its talented employees focused on keeping the company moving forward is to keep payroll intact and make sure that the cash flow is there to meet payroll funding deadlines every pay period.
A Trucking Company Needs A Financial Partner With Experience
Bank lending is a payroll funding option that many trucking companies explore to help bridge the gap between shipper invoice due dates and the actual moment when payment is received. But bank lending adds more money to a trucking company's debt and really does not offer any kind of permanent payroll funding solution. When the bank decides that your trucking company has reached is borrowing limit, then the cash flow will stop. Now you have additional interest-bearing debt to add to the fact that you have been unable to collect revenue from your outstanding invoices.
The other issue with banks is that they have no experience in helping a trucking company to fund its payroll. A bank does not understand the implications of missing payroll for a team of highly skilled mechanics and it also has no idea how critical dispatchers really are to the success of the company. A bank looks at your trucking company in terms of numbers and it has no experience in how to make those numbers work in your favor. The bank only knows how to skew its numbers to its own favor, which does not help you to grow your business.
An Experienced Invoice Factoring Company Has Your Permanent Payroll Funding Solution
Instead of relying on temporary bank funding to solve your payroll issues, you need to talk to an experienced invoice factoring company such as 1st Commercial Credit. With an experienced factoring company, you will be able to turn your outstanding invoices into the cash flow you need to fund payroll. Since your invoiced sales operations are ongoing, that means that invoice factoring will help create an unending supply of cash that becomes the ideal business line of credit for your trucking company. As long as you are generating invoices with creditworthy clients, then you have the collateral you need for a reliable line of credit.
1st Commercial Credit has years of experience in doing business with trucking companies all over the world. We help long haulers to meet their payroll needs and we even have invoice factoring programs for oil field trucking companies as well. We have programs that are designed for freight brokers and we also have the experience necessary to fund international shipping invoices as well. Our global network of financial affiliates allows us to advance funds in up to 17 different currencies, which has come in handy with the amount of work we do with small to medium sized trucking companies.
Let 1st Commercial Credit Be Your Financial Edge
1st Commercial Credit is not a bank and we are not interested in offering bank lending products. We are a freight factoring company that advances you cash for the face values of your invoices, minus our lending fees, and then deposits that cash directly into your bank account. You can use your outstanding invoices as a reliable source of funding for your entire payroll obligation. Your drivers, mechanics and dispatchers will all get their paychecks on time and you never have to take on interest-bearing loans or lines of credit to meet payroll.
For years now, 1st Commercial Credit has put together flexible funding programs for trucking companies. We have the experience in the trucking industry and the invoice factoring programs you need to provide a steady cash flow which makes payroll funding easier. Don't wait until you are facing payroll issues that could damage your business for the long term. Contact 1st Commercial Credit today and we will have your account up and going in three to five business days and cash in your account within 24 hours of receiving approved invoices from creditworthy clients.