If you are or want to become an owner-operator, you’re in good company. The average owner-operator’s annual income ranges from $125,000 to $340,000. The United States transportation and material moving industry is expected to grow faster than average through 2032, with about 1.9 million openings yearly. However, an owner’s expenses may mean they operate within a small profit margin, limiting their earnings. [...]
Calculating your cost per mile is essential for determining whether you are charging enough for hauling a load. Knowing and understanding how to calculate cost per mile can help ensure you do not lose money. Truck drivers can go out of business if they don't calculate their average cost per mile, which is [...]
Cash flow problems are common in the transportation industry because freight brokers or shippers can take anywhere from 30, 60, or even 90 days to get paid after hauling a load. This can be inconvenient in the long run as expenses don’t stop when a truck driver isn’t paid, and gaining access [...]
If you’ve been driving a truck for years or are only a few months in, you know that consistent cash flow is critical in the success of your trucking company. Being on the road is tough as it is, so having the comfort of knowing that your trucking company [...]
Accounts receivable financing (A/R financing) is a great solution for businesses that need additional cash flow quickly. Porter Freight pays loads out within 24-hours, when shippers could take months. Porter Freight handles all the behind-the-scenes billing so you don't have to worry about anything but picking up and delivering loads.How [...]
Every owner-operator knows that in order to grow your business, cash flow is needed. You don't want to turn down loads, but you can not afford to put fuel in your truck for the next load if you aren't getting paid on the previous load for 30 days or more. [...]
You can't possibly receive a cash advancement with poor credit, right?! Wrong! Porter Freight Funding doesn't perform a credit check on you or your business prior to purchasing your invoices. If bad credit is holding you back from success, allow Porter Freight Funding to help! Invoice Factoring Invoice factoring is [...]
Many carriers think finding the lowest rate is the number one concern when choosing a trucking factoring company. While a low factoring rate is ideal, it shouldn’t be the deciding factor in which factoring company you choose. In other words, it is best to look beyond just the numbers when [...]
Running a profitable trucking company takes more than just being a great truck driver. You can be a veteran in the trucking industry, but running a trucking business is challenging if you lack cash flow. Working in the transportation industry can be cutthroat, which is why we are here to [...]
Decide what you need Each driver's needs are different, so it is important to figure out what you're looking for before you get started on researching other financing options. Ask yourself these important questions: What type of truck do you need for your commercial trucking business? What loads will [...]