Factoring for Hot Shot Loads
Do you need factoring for your trucking company? No problem. We help hot shot carriers get paid for their freight bills within 24 hours. Whether you need cash for maintenance, repairs, gas or any other expense, we’ve got you covered with invoice factoring.
There are a lot of positives to hot shot hauling. For starters, initial new-equipment costs are much less for hot shot truckers than class 8. Usually, hot shot haulers are delivering loads locally or regionally so the time they get to spend at home is longer than class 8 truckers. Also, hot shot truckers are often delivering loads at expedited speeds, meaning little to no wait time at the shippers and receivers.
Hot shot hauling also has its downfalls. Maintenance may be required more often for hot shot haulers than class 8 truckers and the costs associated can add up. While it’s an advantage to be able to drive locally, the demand can be unpredictable and unstable at times. Another disadvantage to hot shot hauling includes building your client base. It can be stressful to find clients and loads to haul as an independent truck driver. If you’re experiencing any of these complications, invoice factoring can help improve your cash flow in times of difficulty.