Category Archives: Trucking

trucking scams

Common Trucking Scams: Protect Yourself & Your Business

As the owner of a trucking company, you’re managing a large pool of drivers, customers, and loads. You already have a lot to handle, so the last thing you want to deal with are scam artists wanting to take advantage of your busy schedule. As with every other industry, no one is immune from becoming a target of a scam, no matter the size or value. Staying informed will keep you one step ahead of fraudulent practices and keep your company and employees safe. If you’re looking for more information here are five common trucking fraud scams to be aware of and how you can avoid becoming the victim of one.

Common Trucking Fraud Scams

Driver in Need: If you’re a company with an exceptionally large number of drivers, you may be a target of this type of scam. The fraudster will collect information from another driver by conversing with them or overhearing it from a truck stop and will use it to call dispatch to request a cash advance.

Phony Repair Shop or Fake Towing: Trucks commonly need to be repaired or even towed during service. The trucking company covers the expenses for repairs, and occasionally a scammer can exploit this by making false calls to a company asking for payment. The scammer provides vehicle information and a driver’s name and sometimes a fake invoice. The goal is to make the trucking company believe the load will be withheld from the driver until payment is received to get the company to pay up.

Fake Police Officer or Department of Transportation (DOT) Inspector: This act of trucking fraud involves a scammer posing as a fake government official. They will contact a trucking company to demand payment over a fake violation to get the truck back. You should also look out for notices in the mail asking for payment for renewal fees and threatening fines for missing the payment.

False Freight: This scheme happens when the driver is not allowed to supervise loading. Often the doors are sealed shut, preventing the driver from being able to ensure inventory counts, but is often still required to sign off on it anyway. Only when the delivery is complete do you realize the piece count is off and the scammers likely stole some of the freight.

Load or Fuel Advance Scams: A popular scam in the industry that targets brokers. Scammers steal the identity of a legitimate trucking company and book loads without any attention of picking them up. Instead, they request a cash advance for fuel and travel expenses. Once received, one of two things could happen. The scammer either disappears or more aggressively, holds the load hostage to demand further payment. Either way, the broker is left with money out of pocket and still in need of finding an actual driver to haul the load, if you’re lucky enough to still have it.

Double Brokering: Although this act entirely involves legitimate parties, you want to make sure you do not become a victim of this, and it’s another one that focuses on brokers. This time it occurs when a broker books a load for a carrier, but in turn that carrier brokers the load to a third party without the consent of the original broker or customer. In this case, the actual carrier of the freight is not under the original contract and therefore is uninsured. If the company that booked the third party does not pay the carrier who moved the load, then the original broker could possibly be on the hook for both payments.

How to Avoid Trucking Fraud

A trucker who just got scammed is sitting in his truck, visibly upset.
As it happens, you already took the first step of avoiding trucking fraud by reading about common scams. Knowing how to identify scams as they occur will stop you from making a mistake.

Here are a few pieces of advice to follow as well:

• Train drivers to not divulge important information in public and to always be aware of their surroundings.
• Request an invoice, and if actually provided one, review it carefully. If no valid address or phone number can be found,
• Find ways to validate the carrier or service provider. Always speak with the driver directly to confirm they are who they say they are. Try asking for information not readily visible on the truck such as the DOT number or employee ID number.
• Directly transfer funds to the driver, not a provider. Don’t risk sending payment to an unknown third party. Also, it’s best practice not to issue fuel advances to a new carrier you haven’t worked with before. Wait until they establish trust by successfully delivering a couple of loads before granting permission to receive cash advances.
• Always be suspicious if someone is pressuring you for immediate payment. Ask yourself if the situation urgently requires you to do so. If absolutely necessary, then just issue a smaller percentage of the cash advance instead of the full amount.

Advanced Commercial Capital: An Industry Resource

Advanced Commercial Capital is here to help the freight industry continue to grow with confidence. We’re in the business of helping your business grow through fair and honest invoice factoring. We protect our clients from unpaid freight invoices due to fraud, bankruptcy, or delinquency, without any surprises. To learn more or go get in touch with our team, call our office at 855.465.4655 or fill out our online contact form today.

invoice factoring companies for trucking

Invoice Factoring Companies for Trucking

In B2B industries, such as logistics, the financial stability of one company often depends on the initiative of another to pay their invoice. When customers are late to pay, cash flow suffers, and essential expenditures – such as maintaining salaries and important equipment – are hindered.

In these cases, trucking companies often look for financial assistance elsewhere, such as a bank loan or invoice factoring. When cash flow is hurting and you need a reliable push to stabilize your business, invoice factoring is often the best option.

In the content below, we define invoice factoring, explore how the financing option works, and dive into the pros and cons for trucking companies!

What is Invoice Factoring?

Invoice factoring is the process of turning unpaid customer invoices into immediate cash. Once the invoice is officially paid, the seller reimburses the factoring company.

How Does Invoice Factoring Work?

Invoice factoring is a simple process. Invoices are sold to a factoring company for a discounted rate or factoring fee, putting working capital into the hands of the company at the needed time. Once the invoice is paid, the factoring company is reimbursed.

For example:

• Trucking Company A has an unpaid invoice of $1,000.
• Trucking Company A sells the invoice to a factoring company for a 5% fee of $50.
• Trucking Company A receives $950.
• When Company A’s customer pays the invoice, the factoring company receives $1,000.

While exploring invoice factoring options, two variations of invoice factoring should be considered: recourse and non-recourse.

Recourse Factoring

Recourse factoring places the responsibility of collection on the invoice seller (i.e. your trucking company). This means collateral is required. In many cases, recourse factoring companies use your receivables as such. Recourse factoring mimics the process of invoice factoring, and in turn, your company receives immediate cash for unpaid invoices. However, if the customer neglects to pay the invoice, the factoring company may collect the money from you.

As the seller, you are solely responsible for the invoices purchased by the factor and will be responsible for refunding the factor whether your customer comes through or not.

If the customer never pays your invoice, you are left in a similar position as when you first sold the invoice – in need of cash. Because of the risk associated with recourse factoring, businesses often prefer non-recourse factoring.

Non-Recourse Factoring

Non-recourse factoring places the responsibility of collection on the factor. If the customer does not pay, the non-recourse factoring company suffers the loss.

Additionally, this form of factoring does not demand collateral.

Is Invoice Factoring Right for My Trucking Company?

Invoice factoring is often utilized by businesses who work for other businesses – a customer base that doesn’t always pay on time. However, payment procrastination can hurt an organization with employees to pay, equipment to maintain, and growth opportunities to pursue.

For trucking companies, a stagnate cash flow could cripple the business. Although cash flow is important, invoice factoring might not be right for every trucking company. Consider the following questions:

1. Is your cash flow hurting?
2. Are you looking for growth opportunities, such as purchasing trucks or hiring employees?
3. Are you looking for a fast way to stabilize your business?

If you answered “yes” to any of the above questions, invoice factoring could be an excellent choice for your trucking company!

Invoice Factoring Pros

– Invoice factoring is an excellent option for trucking companies working for other businesses, especially those that procrastinate payments.
– As already mentioned, invoice factoring provides trucking companies with fast cash, improving cash flow immediately.
– Invoice factoring is easy to be approved for.
– Non-recourse invoice factoring is collateral-free.

Invoice Factoring Cons

– If working with a recourse factoring company, you may be required to buy back unpaid invoices.
– If your company works directly for consumers, invoice factoring may not be a viable option.
– Certain factoring companies tack on hidden fees to the factoring services, such as late fees or processing fees. Be certain to select a trustworthy factoring company and understand all the terms and conditions before moving forward!
– Because invoice factoring approval is based on the credit history of your customers, you don’t have full control of approval – it depends on the financial strength of your clients.

Is Invoice Factoring Different from Invoice Financing?

Invoice financing resembles recourse factoring, detailed above.

One financial resource states: “Instead of selling your invoices to a factoring company, you use the invoices as collateral to get a cash advance and you remain responsible for collecting payment on the invoices.”

Why Don’t I Just Get a Bank Loan?

Invoice factoring delivers almost immediate approval. With the right freight factoring company, you could get paid within three days. On the other hand, applying for and receiving a traditional loan could take weeks, if your company is approved.

Approval for factoring funding and loan funding differs significantly. For example, banks consider your creditworthiness and the ability to afford payments, while most invoice factoring companies consider the creditworthiness of your customers.

Often, factoring companies take business values into consideration as well. Is your trucking company well-managed and known for integrity? You’re likely to be approved for invoice factoring within a matter of days, regardless of credit history.

Advanced Commercial Capital: Trustworthy Non-Recourse Factoring

At Advanced Commercial Capital, we pride ourselves in being an honest, trustworthy non-recourse factoring solution for trucking companies in need of financial stability.

Our team would love to get in touch with your organization. To learn more about what we do, give us a call at 435.673.4655 or complete our online contact form!

what is debt factoring

How Does Debt Factoring Improve Cash Flow?

Your trucking company is doing everything it can to succeed. Shipments are arriving on time and business is booming. The only problem is your clients are not paying their invoices in a timely manner.

An important part of any business, cash flow in the trucking industry can be sporadic and unpredictable, even at the best of times. Fortunately, debt factoring can help trucking companies maintain consistent cash flow via immediate payments. Below, we will consider the basics of how debt factoring can work for your company.

Will It Improve Your Cash Flow?

Even though it is often referred to as debt factoring, factoring does not involve taking on debt, but rather involves selling an asset you already own. Debt factoring is the process by which a third-party factoring company purchases either a portion or all your company’s invoices. Once an agreement is reached, the factoring company advances you an agreed-upon amount. As a result, you do not have to rely on customers paying their invoices immediately for your business to run smoothly.

Why Would a Business Use a Factoring Company?

There are several advantages to the debt factoring system. Chief among them are the following:

1. Debt factoring provides a quick infusion of cash, allowing for steady company growth – even when invoices are unpredictable. Many businesses struggle to maintain a steady cash flow. In turn, this often prevents them from growing and thriving. Due to the relatively immediate nature of debt factoring, once your invoices are purchased, you can expect a quick and reliable influx of cash to help your business continue to thrive.

2. Debt factoring saves time and administrative resources, including overhead costs. When you sell your outstanding invoices to a factoring company, that company takes over the management of your invoices. Because they are handling customer payments and debt collections, you do not have to pay an employee to handle this task, saving you time, administrative resources, and the overhead cost of an extra employee.

3. Non-recourse factoring helps work against accumulating debt. Non-recourse factoring is a type of debt factoring that protects you from accruing debt if your clients do not pay. For example, if a shipper were not to pay the invoice that you sent them after providing your services, you would not be on the hook for paying back the factoring company under a non-recourse factoring system.

What Are the Different Types of Debt Factoring?

We previously mentioned the benefits of non-recourse factoring. However, it is important to note that non-recourse factoring is not the only type of factoring available. Some companies may use a type of factoring known as recourse. The difference between this type of factoring and non-recourse lies in the risk placed upon you and your business.

Recourse factoring puts your company on the hook for customers who do not pay their invoices. By requiring additional collateral in addition to your invoices, the factoring company has the right to collect money for the unpaid invoice directly from you. Typically, companies that use this type of factoring hold some of your money in reserve.

In a non-recourse factoring agreement, the factoring company fully assumes the risk. Accordingly, if the freight broker or shipper does not pay their invoice, the factoring company suffers the loss. Generally, non-recourse factoring companies do not hold any of your money in reserve, as there is no need to do so.

Advanced Commercial Capital: Risk-Free Debt Factoring

With Advanced Commercial Capital, your trucking company assumes very few risks! Because of the unique nature of our non-recourse freight factoring service, there are no consequences to you if your clients fail to pay their invoices. We also do not require any long-term contracts and do not charge termination fees.

Additionally, we offer:
• Fast and flexible funding options, paying you in as little as one hour for your freight bills
• Strong relationships that foster your success
• And valuable benefits that save you both time and money, from our free fuel discount card program to free credit checks

All of these are just some of the reasons why our clients choose to stay with us for the long haul.
Advanced Commercial Capital can help your trucking company succeed in ways you never thought were possible.

Talk with our team to learn more about how non-recourse debt factoring works by giving us a call at 855.465.4655 or reaching out via our online contact form. We look forward to offering you the easiest and smartest way to factor your freight bills and get the cash you need, without any surprises.

broker credit

What Should I Know About a Freight Broker Line of Credit?

As intermediaries between carriers and shippers, freight brokers face distinctive business challenges, from managing cash flow to learning about the credibility of companies they work with. A freight broker line of credit can assist brokerages in managing financial stresses, overcoming challenges, and understanding the trustworthiness of potential clients.

Primary Challenges for Freight Brokers

Why is a line of credit necessary for freight brokers? Business credit for trucking is essential to address challenges common to most freight brokerages, including surety bonds, insurance, competition, liability, and cash flow.

1. Surety Bonds

By definition, “a surety bond is a promise to be liable for the debt, default, or failure of another. It is a three-party contract by which one party (the surety) guarantees the performance or obligations of a second party (the principal) to a third party (the obligee.)”

Every freight broker is required to obtain a surety bond from the government to operate legitimately in the United States. This agreement between the broker and the government is a guarantee that the freight broker will meet all contracts with shippers and carriers.

Freight brokers are required to obtain a $75,000 surety bond. If a freight broker does not live up to its contracts with a shipper or a carrier, the surety bond assures shippers and carriers that the broker has the cash or assets to cover at least the amount of the bond.

2. Insurance

Freight brokers can procure surety bonds from insurance companies. However, brokers are required to pay premiums. To lower premiums, freight brokers can demonstrate that their company is low-risk and reliable with good credit scores.

3. Competition

The freight broker industry is extremely competitive. Once again, low-risk engagements and reliability help freight brokers stand out amongst the competition.

4. Liability

Although not always the case, freight brokers are sometimes liable for shipment or equipment damages during travel. To limit liability, freight brokers should evaluate the dependability and credibility of potential carriers before accepting new engagements.

5. Cash Flow

Financial strain is one of the most significant challenges faced by freight brokers, specifically consistent cash flow. While starting a freight broker business is relatively inexpensive, financial challenges arise quickly. Because carriers are often paid before shippers are billed, cash flow can become clogged or entirely depleted. As the intermediary between shippers and carriers, transportation brokers are often forced to satisfy and balance both parties involved before acknowledging personal cash flow issues.

However, unacknowledged cash flow issues eventually cripple a company. Amid balancing such significant challenges, freight brokers may look for additional financial assistance to promote business growth and livelihood. Freight factoring is one such option.

Benefits of a Freight Broker Credit

1. Surety Bonds & Insurance

As mentioned, strong business credit scores can help freight brokers appear low-risk, credible, and reliable to insurance companies, often resulting in leverage to negotiate lower premiums.

2. Competition

Again, freight brokering is a competitive space, and strong business credit will make your company stand out among the rest. Additionally, business credit may allow your freight brokerage to negotiate for higher prices. Shippers and carriers appreciate low-risk, reliable brokers.

3. Liability

One business credit service explores the emphasis placed on credibility in the freight brokerage industry for both shippers and carriers.

• Shippers “will pull credit because they’re trusting the broker with their load. The brokers credit will offer detailed information about payment patterns and financial responsibility (or lack thereof).”
• On the other hand, carriers “will pull the brokers credit because they want to make sure there is a consistent history of payments on time. Carriers need to be able to depend on timely payments from the broker to fund their operations and turn a profit.”

Likewise, as a broker, you should also check business credit files of potential shippers and carriers. As mentioned, business credit files help you choose the best companies to engage with, reducing liability risk.

4. Cash Flow

A freight factoring line of credit for brokers directly addresses cash flow issues. In the freight factoring process, the factor purchases invoices directly from the broker, providing the brokerage with immediate cash needed to pay carriers. The factor then waits to receive payment for the invoice, instead of the freight brokerage. Factoring provides companies with cash needed to continue business on slow-paying invoices.

Factoring Line of Credit vs Bank Line of Credit

When considering financial assistance, freight brokers may consider acquiring a bank line of credit in comparison to a factoring-based line of credit. While a bank line of credit may be viable for several issues, consider a few potential downsides to pursuing this form of financial assistance as a freight broker:

1. A bank line of credit can add to the debt already carried by the broker. As with any business, avoiding debt when possible is best.

2. Additionally, a bank line of credit has its limits. Eventually, a maximum borrowing limit will be met, stopping cash flow. Once the broker can no longer rely on the bank line of credit, he/she is forced to rely on shippers once more, often an unreliable source of cash flow.

Advanced Commercial Capital

At Advanced Commercial Capital, we protect our clients from unpaid freight invoices due to fraud, bankruptcy, or delinquency – without any surprises. To learn more about the ins-and-outs of a freight factoring line of credit, reach out to our team at 855.465.4655 or via our online contact form!

fuel cards for truckers

EFS: The Best Fuel Card for Truckers

Fuel is among the most significant expenses for trucking companies. As fuel prices regularly fluctuate, fleet managers often feel burdened by the rapidly increased costs, hesitant to settle into any fuel price lows. Therefore, properly budgeting for long-term profitability can prove difficult. Additionally, the strain of unpaid freight invoices due to fraud or delinquency often intensifies financial stresses.

Trucking companies can turn to various financial assistance methods, including a fuel discount card program. Below, we explore everything you need to know about an EFS fuel card – from the definition of a discount card to an application guide.

What is an EFS Fuel Card?

An EFS fuel card offers a convenient, powerful, and secure payment solution for transportation companies, regardless of fleet size. Across North America, fuel cards are commonly accepted at thousands of locations. The EFS card is designed to meet customized financial demands and consolidate transactions onto a single card.

Fuel cards offer discounts on diesel by the gallon. How does this work? Essentially, fuel card providers form partnerships with fuel stations, allowing card holders to receive exclusive discounts from these specific fuel stations.

Specific discounts vary by location. However, the cumulative savings brought by fuel programs can be extraordinarily beneficial for trucking companies.

What Are the Benefits of an EFS Discount Fuel Card?

EFS helpfully lists a few of the primary fuel discount card benefits, and we have expanded on each:

  • Increased Purchase, Authorization, and Financial Controls: Many EFS fuel cards allow for customized security restrictions. For example, you may choose to require driver ID authorizations before a purchase. Additionally, EFS fuel cards can easily be deactivated to prevent unauthorized spending.
  • Consolidated Transactions: The conglomeration of transactions onto a single fuel discount card allows for better management of purchases, fuel, cash advances, etc., and impactful fuel savings at most national, regional, and independent truck stops.
  • Significant Fuel Savings: Although precise price fuel savings differ depending on the fuel card program, many offer significant benefits from bulk fuel purchases and reduced pricing during filling.
  • ATM/cash Access: Many fuel cards allow for easy access to cash/ ATMs.
  • Real-Time Online Account Reconciliation: Access to real-time data allows fleet managers to add or delete drivers or vehicles, as the business develops.
  • Online and Mobile Account Management: Online account management allow for bill payments and customized purchase controls. Additionally, online management is convenient! You can track purchases in a single location, providing for easy accounting and less physical paperwork.
  • Fuel Card Industry Trends

    Many of the current benefits of EFS fuel discount cards step from industry trend-based development. A few of the most common industry trends include:

  • Omni-channel experiences: The entire card industry is trending towards creating a customized experience for the holder. Many fuel cards have developed customized experiences for the user as well. For example, certain programs help the cardholder identify the nearest service station, based on location.
  • EMV migration: Chip-based cards are extremely common now, even within the fuel card industry. Chip-based fuel discount cards offer increased security and control over “offline” credit card transactions.
  • Telematics data: Some fuel card programs have embedded telematics interface into product offerings, providing data designed to improve fleet management and operating efficiency.
  • CDCVM security: The Customer Device Cardholder Verification Method (CDCVM) is a security feature designed to identify the individual utilizing the fuel card.
  • How Can You Apply for an EFS Fuel Card?

    Applying for an EFS fuel card is simple and streamlined as most applications only require basic information. At Advanced Commercial Capital, two applications are required:

    1. EFS Master Services Agreement

    The first, an EFS services agreement, only requires a simple list of info, including:

    -Legal name
    -Primary address
    -Phone number
    -Fax number
    -Primary contact
    -Primary contact phone number
    -Billing contact
    -Billing contact address
    -Billing contact phone number
    -Billing contact fax number
    -Number of active vehicles in your fleet
    -Number of active drivers/ cardholders

    Depending on the number of vehicles in your fleet, an account set-up fee is required. If applying for an EFS fuel card with Advanced Commercial Capital, we cover the set-up fee in full. After the basic information has been provided, authorization is required, and the application is complete.

    2. Customer Application

    The second simple form is the customer application. Once more, information required to complete the final step of the application is straightforward. For example, the following items are included (but are not limited to):

    -Corporate name
    -Location address
    -Website URL
    -Location phone number
    -Federal tax (or CRA) ID number
    -DUNS number
    -DOT number
    -Years in business
    -MC or provincial operating license
    -Ownership type
    -Number of cardholders and trucks
    -Amount of average weekly fuel, check, and other
    -Description of transportation services provided to clients

    Once the final application has been authorized, you are finished applying for the EFS fuel card program. Both components of the application with Advanced Commercial Capital can be found at an easily-accessible EFS application pdf. If you have any questions related to the EFS program, feel free to call us at 435.673.4655 – or get in touch with our EFS/FTS Plus representative, Amber White, at 901.474.0835!

    Advanced Commercial Capital’s Fuel Discount Card & EFS Checks

    At Advanced Commercial Capital, we are proud to partner with EFS and offer our clients access to a fuel discount card and an easy-to-use check product. Part of the FTS Plus discount network, the fuel discount card allows for fuel discounts at the majority of national, regional, and independent truck stops. Additionally, through the FTS Plus network, truck drivers can save money on tires, oil, truck parts, insurance, and a wide variety of additional products and services.

    With your EFS account, you will be able to issue checks, similar to Comchecks and T-Checks, to transfer money to your drivers when needed. EFS Checks are easy to use, available at truck stops over the country, and have one of the lowest fee structures in the industry.

    EFS Fuel Card Discounts

    While fuel card discounts fluctuate with fuel prices, a few examples of fuel savings include:

  • Pilot Flying J: retail price minus 10 cents
  • Loves: retail price minus 5.5 cents
  • TA: retail price minus 5.5 cents
  • Other Regional and Independent Locations: average discount up to 20 cents per gallon
  • Advanced Commercial Capital

    We understand the financial strains that accompany managing a trucking business. Unpaid invoices and fluctuating fuel costs can be detrimental. This is why our non-recourse freight factoring service includes a fuel discount card program.

    What is the benefit of utilizing a non-recourse freight factoring service in conjunction with your fuel discount card? Of course, every company has to determine if freight factoring is the right financial service – many trucking businesses in need of immediate cash, experiencing economic difficult, waiting on a traditional bank loan, or in need of increased business stability find that freight factoring is a profitable solution.

    Why non-recourse factoring?

    Non-recourse factoring is a factoring method where the factor (our company) bears the credit and collection risk on purchased invoices. Because we won’t charge you back when your customers don’t pay their bills, there is no reason to hold reserves. To learn more about our non-recourse factoring services, give us a call at 855.465.4655 or reach out via our online contact form!

    the future of trucking after the coronavirus pandemic

    The Future of Trucking After the Pandemic

    The Novel Coronavirus has impacted every industry in unique, unprecedented ways. Some businesses were impacted immediately, especially those without the ability to adapt to curbside services, online orders, or digital procedures. Individuals across hundreds of companies have experienced layoffs or furloughs.

    Certain industries – including grocery stores and delivery services – faced sudden, rapid growth, with a swift and urgent need for staff. The transportation industry sits between the growth and decline of hundreds of companies. How has trucking been impacted by the coronavirus pandemic?

    While truckers remained busy moving freight to keep hospitals, grocery stores, and Amazon warehouses stocked with essential items, tougher times may be ahead. As state and local governments keep isolation orders in place, economic impacts increase in severity – and truckers will be affected.

    In the content below, we explore the future of trucking after the coronavirus pandemic, to the best of our knowledge.

    Freight Volumes

    The need for freight volume in certain sectors soared with shelter-in-place orders and social distancing guidelines. Shipping and delivery companies, grocery stores, childcare providers, and hospitals have required unprecedented amounts of food, hygiene products, medical supplies, and other essential items. As people’s buying habits suddenly changed to pandemic needs, truck drivers have been required to continue hauling loads across the country.

    However, as non-essential businesses closed their doors and hundreds suffered from unparalleled layoff/ furlough rates, the demand for “non-essential” items plummeted exponentially. Thus, while certain sectors soared in freight demands, others dropped to nearly nonexistent requirements.

    Overall, freight volumes are starting to decline – a decline predicted to accelerate over the coming weeks. The Trucker’s Report states:

    Even where people are still working and still making money, social distancing practices and worries of an economic recession are keeping people from spending money on non-essential items. As demand for those goods falls, so too does freight volume… Some sectors are already feeling the squeeze, but if the outbreak lasts much longer, the strain on the economy and freight volumes will only get worse.

    The Trucking Industry’s Response to Plummeting Freight Volumes

    Small, independent transportation companies are hit the hardest. As freight volume plummets, some face an uncertain future. One independent driver, Timothy Barret, shared his concern for the future of his business should the freight decline continue. Barret primarily hauled automotive parts for concerts and live events, two industries severely impacted by COVID-19.

    “I am basically shut down,” Timothy stated. “I can go broke two ways: hauling for nothing or not hauling. I’m not going to [run loads] and exchange money for fuel and drive the truck for free.”

    Although small to mid-size companies may be impacted most severely, even large carriers may have to lay off workers if the decline proceeds on the projected path.

    Drop in Oil Prices

    Initiated by a Saudi Arabia-Russia feud over oil prices, crude oil prices around the world have dropped – negatively impacting freight rates for independent truckers. At first glance, lower diesel prices may seem beneficial, lowering operating costs. However, lower oil prices will impact already slow freight within the oil sector (accounting for 3-5% of all truck freight).

    Jim Meil from ACT Research commented:

    The drive for fuel efficiency and the advances in technology are some of the crowning achievements of truck OEMs… It’s great to see trucks get mileage that was unthinkable even 10 years ago with 8.5 mpg and higher in some cases. But that’s a bigger benefit when diesel is $4 or higher rather than $2.75 and lower. Fuel efficiency is one of the advantages the industry uses to put buyers in trucks, and with lower fuel prices, that advantage goes away.

    Predicted Economic Recovery Shape

    With a predicted, U-shaped economic recovery, getting back to normal freight volumes and freight rates may take a considerable amount of time.

    The U-shaped economic recovery describes a unique recession and recovery pattern, defined by a steep decline in employment, GDP, and industrial output that remains depressed from 12-24 months before complete recovery. In a U-shaped recovery, the recession tumbles along the very bottom of the shape before beginning a sharp incline. The 1973-75 Nixon recession and the S&L crisis recession of 1990-91 are two examples of historical U-shaped economic recovery patterns.

    Although the predicted recovery shape is only a prediction, the educated projection extends recovery into 2021.

    Can Freight Factoring Help?

    Todd Amen, CEO and president of American Truck Business Services (ATBS) warned that consumers out of work for an extended period will halt spending. “Ultimately,” Amen commented, “what happens to the sentiment in America is we close our pocketbooks, we’re going to stop spending money because we need to survive. We’re going to stop shopping except for the essentials. That means freight stops moving.”

    As owner-operators prepare for darker days, trucking companies can look for financial assistance to remain afloat until the economy recovers. Freight factoring is one such option. In fact, non-recourse freight factoring can provide the cash flow necessary for your trucking company to recover after the coronavirus pandemic and launch into a profitable future.

    Advanced Commercial Capital

    At Advanced Commercial Capital, we protect trucking companies from unpaid freight invoices due to fraud, bankruptcy, or delinquency. Our non-recourse factoring provides cash flow for your trucking company with zero unpleasant surprises. We own the risk, not you. If your client fails to pay, we take responsibility for the unpaid invoice.

    Trucking companies often look to factoring to increase cash flow during periods of growth – or periods of economic difficulty. To get in touch with our team about factoring for your transportation company today, feel free to reach out at 855.465.4655 or via our online contact form!

    recourse vs non recourse factoring

    Recourse Vs. Non-Recourse Factoring

    All small businesses experience both financial plateaus and expansive growth, each phase proving to be a challenge. Small business owners may struggle to stay afloat during scarcity but fight to scale extreme growth during unprecedented expansion. In both cases, business owners may look to financial services for assistance and direction.

    Trucking companies looking to tackle new opportunities or struggling to maintain profitability may look to freight factoring for financial assistance. In the content below, we discuss factoring as a financial service, recourse vs non recourse factoring, and how to determine if non recourse freight factoring is right for the long-term growth of your company.

    What is Freight Factoring?

    Freight factoring is a financial service whereby a factoring organization purchases invoices from a business at a discount from the face value of the invoice. The organization purchasing the invoices is called the “factor,” while the discount amount is coined the “factoring fee.” The factoring company then waits to get paid for the invoice.

    How Does Freight Factoring Benefit Trucking Companies?

    Freight factoring encourages cash flow. Once the factor purchases the invoice, the trucking company receives enough capital to begin hauling another load. As a result, the trucking company no longer needs to wait for the client to pay the invoice – which are oftentimes delayed – to seize available opportunities and continue company growth. Therefore, with freight factoring, unpaid invoices become immediate cash.

    Factoring receivables allows your trucking company to cover daily expenses, such as repairs or fleet maintenance, fuel, or payroll, and plan for long-term success without going into debt or diluting equity ownership in your company.

    What is Recourse?

    Although subjective in definition between varying organizations, most factoring companies agree that the term “recourse” defines who holds the liability and the action that occurs if the factoring client’s customer (or account debtor) does not pay the debt.

    For example, if a freight factoring business purchases a discounted invoice from a trucking company in need of cash and the trucking company’s client never pays the invoice, recourse is the resulting action. According to the recourse factoring agreement, the factoring business is entitled to get paid by the trucker, and the trucking company is required to repurchase the invoice from the factoring company.

    Some factoring companies allow recourse to occur by providing another invoice as repayment or simply removing money from a reserve account. Regardless, the trucking company is ultimately held responsible for paying the invoice amount in full.

    Benefits of Recourse Factoring

    Recourse factoring offers significant benefits for small trucking businesses by providing immediate cash flow from unpaid invoices. This financial solution allows truckers to access working capital without waiting for customer payments, ensuring they can cover expenses such as fuel, maintenance, and payroll. By converting receivables into cash quickly, recourse factoring helps small trucking companies maintain smooth operations and seize new opportunities without the stress of delayed payments. Additionally, it simplifies cash flow management, enabling business owners to focus on growth and customer service

    What is Non Recourse Freight Factoring?

    Non recourse freight factoring is another popular factoring option. Non recourse factoring is a type of financial assistance where the factor bears all collection risk on purchased invoices. Thus, if the account debtor does not pay his or her invoice, the trucking company is not held responsible to pay the invoice. In fact, the factor cannot demand payment on any purchased invoices if payment is not received due to credit reasons.

    Benefits of Non Recourse Factoring

    Nonrecourse factoring provides invaluable benefits to businesses by offering immediate cash flow while also protecting against the risk of non-payment. Unlike recourse factoring, where businesses must repay the advance if the customer defaults, nonrecourse factoring shifts this risk to the factoring company. This financial solution ensures that businesses can maintain steady cash flow and cover essential expenses without the burden of potential bad debt. By mitigating credit risk, nonrecourse factoring allows business owners to focus on growth and operations with greater peace of mind.
    An excited trucker ready to learn about recourse and non recourse factoring.

    Non Recourse vs Recourse Factoring

    As discussed, the primary difference between non recourse and recourse factoring is the responsibility of the trucking company to pay recourse. The use of reserve accounts is another distinction. Recourse factoring will collect a reserve account in the event that the account debtor does not pay. As mentioned, the factor may withdraw money from the reserve if an invoice is left unpaid.

    However, non recourse factoring does not incorporate a reserve because it is not necessary. Alternatively, a refund is not demanded if account debtors cannot pay their bills.

    When is Non Recourse Right for Your Trucking Company?

    Evaluating whether non recourse freight factoring is right for your trucking company begins with answering a few questions. If your trucking company is currently experiencing one of the following scenarios, non recourse freight factoring may be an ideal course of action for your organization.

    Are you a startup trucking company in need of immediate cash?

    Non recourse factoring can be an excellent opportunity for startup trucking companies to front the day-to-day expenses of managing a business. Every small business startup is a financial investment, and non recourse factoring is a good avenue to begin purchasing a fleet, hiring drivers, and completing jobs.

    Are you an established trucking company experiencing extreme economic difficulty?

    In times of economic distress, non recourse factoring can save a trucking company! In some situations, invoice factoring may be the only avenue of cash available to a trucking company, allowing it to stay afloat and prepare in advance for the economy to turn around.

    Have you inquired about a traditional bank loan, but your bank is not willing to lend?

    The ability to qualify for factoring services is primarily based on the creditworthiness of your customers – not you. Thus, trucking companies have a better chance of receiving financial assistance from a factoring company than a bank, especially if the company has not had enough time to build substantial creditworthiness. Additionally, factoring companies are generally much quicker during setup than applying and getting approved for a bank loan, allowing for immediate cash flow.

    Do you spend more time chasing past-due receivables than performing jobs?

    Time spent chasing past-due receivables can significantly stunt company growth! When opportunities for expansion present themselves, your company should be positioned to seize the opportunity without feeling burdened by unpaid invoices.

    Do you find yourself feeling at-risk of clients paying late or not paying at all?

    If you find your company drowning when a client pays late (if at all), non recourse factoring may be the perfect solution to achieve a greater level of business stability. Freed from managing operations at the whim of account debtors, you may be comfortable to invest in business expansion and long-term success.

    Find the Right Freight Factoring Program at Advanced Commercial Capital

    At Advanced Commercial Capital, our non recourse freight factoring program is one-of-a-kind. We charge no setup fees, offer low, competitive rates, and never force clients into long-term contracts. We are dedicated to providing the highest quality factoring services for as long as the financing solution is best for your trucking company!

    If you have any questions about how non recourse freight factoring can benefit your company, please feel free to reach out at 855.465.4655 or via our online contact form today!

    trucking regulation changes

    Trucking Regulation Changes

    To remain current on highway and driver safety, trucking companies must constantly observe any new regulations put in place. At the start of 2020, both trucking and traditional drivers experienced regulatory changes, from identification to drug and alcohol clearinghouse compliance procedures.

    However, with the unprecedented effects of the COVID-19 pandemic, a few of the planned regulation adjustments have been postponed. Therefore, it is crucial to ensure you are aware of each change and when they come into effect to prepare your trucking company accordingly. In the content below, we discuss five new trucking regulations to be aware of in 2020.

    Real ID

    As a national federal regulation, all drivers from every state and territory previously had until Oct. 1, 2020 to transition their driver’s license to a Real ID. This new form of identification complies with new background and security requirements. For any drivers who fail to acquire their Real ID after October 1, 2020, their traditional driver’s license will deny access for commercial aircraft boarding, authorization to nuclear facilities, or entry into federal buildings while on business.

    However, as of late March 2020, the Department of Homeland Security extended the deadline one year due to delays brought by the Coronavirus pandemic. As a result, the Real ID deadline is now extended to October 1, 2021.

    Revised Entry-Level Driver Training Rules

    For those in pursuit of their Class A or Class B Commercial Driver’s License (CDL), this new federal trucking regulation is especially imperative to prevent failure of compliance.

    Beginning February 7, 2020, the Federal Motor Carrier Safety Association (FMCSA) instituted a new set of higher standards for professional truck driver licensure. However, training programs have until February 7, 2022 to alter their programs in full compliance with the new regulations in response to the Coronavirus pandemic.

    Therefore, to qualify for your Class A or Class B CDL, all aspiring truckers are required to successfully complete an entire training program. The federal Entry-Level Driver Training course now consists of 19 behind-the-wheel assessments (reported by a training provider to the Department of Transportation) in conjunction with passing knowledge of 31 course topics.

    Additionally, any existing truckers who intend on becoming a driving instructor must hold a clean motor vehicle record (MVR), a cleared medical certification, and have two or more years of driving experience.

    Updated Hours of Service Regulations

    At the close of 2019, the FMCSA announced five new changes to the hours-of-service (HOS) federal regulations. As summarized by PrePass, the five key changes proposed by the FMCSA aim to increase driver flexibility while maintaining both their safety and the safety of fellow drivers. The five HOS changes are as follows:

    30-Minute Breaks

    Drivers may retain the 30-minute break rule. However, to increase driver flexibility, they may tie it to eight hours of driving time, in lieu of eight hours of “on-duty” time. This allows the 30-minute break to be satisfied by a driver using on-duty, idle driving status, as opposed to off-duty.

    10 Hours of Off-Duty

    In modification of the sleeper-berth exception, this change allows drivers to split their required 10 hours off-duty into one period of at least seven consecutive hours in the sleeper berth and the other period of not less than two consecutive hours, either off-duty or in the sleeper berth. Neither time period would count against the maximum 14-hour driving window. Current HOS rules only allow an eight hour-two hour split, and the shorter rest period is currently counted against the maximum 14-hour driving window.

    Off-Duty Breaks

    This HOS change allows truck drivers to take a single off-duty break of at least 30 minutes and up to three hours, pausing the driver’s 14-hour driving window, provided the driver takes 10 consecutive hours off-duty at the end of the work shift. This proposal would accommodate disruptions in the driver’s workday, such as weather, traffic and extended detention times.

    Driving with Adverse Weather Conditions

    Modifying the adverse driving conditions exception, this new regulation extends by two hours the maximum window during which driving is permitted. Currently, truck drivers can extend their 11 hours of driving time to 13 hours under adverse conditions, but the 14-hour driving time window is not extended. The FMCSA believes this will allow drivers to wait out or drive slowly through adverse weather conditions, rather than driving ahead to stay within their allowable driving window.

    Electronic Logging Devices (ELDs) and the Short-Haul Exception

    This final HOS change adjusts the short-haul exception by lengthening the drivers’ maximum on duty period from 12 to 14 hours and extending the distance limit within which the driver may operate from 100 air miles to 150 air miles. If adopted, all truck drivers would have a maximum 14-hour workday. Drivers utilizing the short-haul exception would still be required to return to their normal work reporting location at the end of each workday. While those drivers are not required to utilize electronic logging devices (ELDs), their employers must continue to maintain time records.

    Overtime Trucking Rule Updates

    The last federal overtime regulation update took place in 2004. Therefore, to accommodate for growth in pay rates since then, the U.S. Department of Labor instituted a new, overtime trucking rule effective January 1, 2020. As a result of the new regulation in force, any full-time truckers are considered non-exempt and are entitled to receive overtime pay if they make less than $35,568 annually.

    Drug and Alcohol Clearinghouse

    Despite having only been in effect since January 6, 2020, the FMCSA has already identified nearly 8,000 violations pertaining to substance abuse. The new, drug and alcohol clearinghouse -regulations imposed by the FMCSA require that all motor carriers, fleets, trucking companies, third-party administrators, medical review officers (MROs), and substance abuse professionals report any detected drug and alcohol testing violations.

    Through an online database called The Drug and Alcohol Clearinghouse, both the FMCSA and employers can then monitor all violations in every state and national territory in real-time to prevent violators from crossing state lines for work to avoid detection. Additionally, all trucking companies must populate the database with employee Department of Transportation (DOT) substance abuse and verify that the delinquent drivers complete their return-to-duty requirements.

    Currently, the FMCSA tracks drug testing violations through urine samples to detect alcohol and drug use, but may lead to hair follicle testing or oral fluids better to identify drug use within the last 90 days. With these new regulations in place, our nation can help improve driver safety while in transit and on the road. Furthermore, with this database in effect nationwide, commercial driving companies can better detect any truck driver applicants who have a history of driving and substance violations.

    Help Your Trucking Company Thrive with Advanced Capital Commercial

    While balancing the new regulations placed in effect every year, it may be hard to also keep current with your financial and bookkeeping tasks. At Advanced Commercial Capital, we are dedicated to helping your trucking company thrive. When dealing with the high demand for trucked deliveries while remaining in compliance with the new driving and driver regulations, we tailor our solutions to the cash needs of the trucker.

    We understand the unique needs and challenges trucking companies face. From paying for fuel to truck maintenance and payroll, it is hard to wait on delinquent customer payments. To get in touch, contact us today at 855.465.4655 or via our online contact form! We look forward to walking beside your company and watching it thrive.

    factoring companies for truck drivers

    Ways to Prepare Your Trucking Company For A Recession

    During times of unprecedented economic turmoil, the chances of corporate endurance or success can appear slim and dismal. As a small or mid-sized trucking company, navigating complex economic distress may feel inundating.

    However, survival is possible. In the content below, we offer practical advice on maintaining business health during economic crises from advanced preparation to non-recourse factoring opportunities.

    How a Trucking Company Can Survive Economic Turmoil

    1. If possible, prepare for economic crises in advance.

    Unfortunately, most economic disasters are undetectable from miles away, leaving individuals, businesses, and governments unprepared. However, some level of consistent planning and forethought is required to respond appropriately when unfortunate economic turmoil arrives.
    Below are several actionable insights and strategies to help you prepare in advance.

    Evaluate your company’s financial health often.

    Understanding where your trucking company stands financially will allow you to make informed, quick decisions when needed.

    Identify your financial cushion.

    Identify areas within your trucking company that may provide a financial cushion should a crisis occur. Do you have room to give, if necessary?

    Seek to grow during profitable times.

    Expand your services and geographic expertise whenever possible, performing research into stable markets that remain constant during unstable times.

    Reduce the possibility of crippling debt.

    One simple way to mitigate future expenses is through commercial truck maintenance. Performing regular upkeep on your fleet reduces the possibility of unexpected breakdown and expensive repair. If you own old and unreliable equipment, consider replacing it during positive economic conditions.

    Finally, make sure you are aware of current financial standings with all creditors, lenders, and debtors. Check in often.

    Analyze the health of your current alliances.

    Are relations with your partners, clients, staff, and technicians strong? Developing and fortifying a community of trust and transparency can help your trucking company maintain valuable clients and staff during economic turmoil.

    Unfortunately, not every trucking company is aptly prepared for economic distress. The day-to-day challenges of running a business are draining – proactively preparing for disaster is not often on the to-do list. If this is the case, there is still hope for your trucking company in times of unexpected hardship!

    2. Save money wherever possible.

    Saving money begins with accurately assessing costs. Micro-manage spending. For example, do you know your accurate cost-per-mile? Rudimentary calculation may seem sufficient for times of plenty, but economic distress demands a precise calculation. If utilizing a tracker, be sure to update it every week, per vehicle and driver.

    Assess your cost-per-mile.

    Assessing your cost-per-mile involves understanding all fixed and variable costs. Your fixed costs may include equipment, collision/comp insurance, permits, health insurance, an office lease, etc. Regardless of how many miles are driven, these costs remain present and reoccurring. Variable costs depend on frequency and volume of usage. These costs include tires, fuel price fluctuations, taxes, lodging, vehicle maintenance, equipment repairs, etc. Comprehending an accurate cost-per-mile involves understanding how overhead costs effect profit.

    Implement a pay-for-performance plan.

    Consider implementing a pay-for-performance plan for employees. Pay-for-performance plans incentivize drivers to go above and beyond while being appropriately, competitively compensated.

    Forbes explains pay-for-performance plans well:

    Pay-For-Performance is a way of saying ‘People should get a reasonable salary, and the preponderance of what they can earn should be based on the productivity and results of their own role, along with the overall results of the organization.’ A pay-for-performance plan for your drivers should not be tied to safety or on-time deliveries, that is their job! Driver incentives should be customized to each driver and tied to profit. The driver is the profit center, and based on what that driver produces, above and beyond some standard that you set, the profit is shared with them in some pre-agreed formula.

    3. Explore new trucking opportunities.

    New opportunities may come in the form of unfamiliar territory. For example, if your trucking business is accustomed to extensive, cross-country trips, yet – in economic turmoil – shorter hauls are more available and lucrative, adapting to the current need and available market. The opposite may be true as well. Regardless of the specific circumstance, adaption during economic distress is often necessary to maintain business health.

    4. Take it slow and try to maintain financial stability.

    In times of uncertainty and unprecedented distress, our gut response is often panic. As a business owner, panic is often dangerous. Therefore, evaluate your financial situation and ensure your personal finances are in order before making hasty decisions.
    One major financial area of evaluation is cash flow. How will you work to keep revenue coming in? Many truck drivers turn to non-recourse freight factoring for survival during times of economic distress.

    5. Protect your cash flow with non-recourse factoring.

    Trucking companies are more than aware of limited cash flow throughout tough economic conditions. The risk of simply not getting paid increases. Non-recourse factoring can be a trucker’s saving grace during times of uncertain cash flow.

    Ultimately, non-recourse freight factoring protects trucking companies from falling into debt if a client does not pay an invoice. When a trucking company is trying to navigate economic turmoil, the risk of clients failing to pay invoices on time or at all can be destructive.

    Why choose non-recourse factoring over recourse factoring?

    When working with a recourse factoring business, trucking companies are still responsible for the invoice if the client fails to pay in full. Non-recourse factoring completely protects the trucking company from unpaid invoices. Within a non-recourse factoring agreement, the trucking company is not legally responsible to reimburse the bill if the client does not pay – the factoring company accepts the risk.

    Prepare for Economic Changes with Advanced Commercial Capital

    Advanced Commercial Capital offers a fixed-rate, non-recourse freight factoring program, one of the most popular in the industry. The program is excellent for startup trucking companies – or companies in need of assistance during unprecedented economic distress.

    Our non-recourse freight factoring program gives you peace of mind knowing that you will never be responsible to buy back uncollected invoices, and your rate will never change. Furthermore, we do not lock trucking companies into long-term contracts. We will work hard every day to earn your business – and you can choose a different route as needed.

    For more information about our non-recourse factoring program, feel free to reach out at 855.465.4655 or via our online contact form.

    We look forward to working with you through difficult economic circumstances.

    truck driver safe during covid-19

    How Can Truck Drivers Stay Safe During the Coronavirus Pandemic?

    During a time of global crisis, the employees moving America are uniquely impacted – and uniquely needed. COVID-19 has severely disrupted the supply chain, while demand for medical supplies, food items, and even toilet paper require movement along the lonely roads of America.

    As truck drivers transport items across the country on empty streets, how can they stay safe? What best practices should truckers follow? What opportunities for healthcare are currently available? In the content below, we provide a guide for truck drivers on staying safe during the current unprecedented pandemic.

    The Coronavirus’ Unique Impact on Truckers

    As the backbone of the supply chain, truckers are necessary to move vital supplies across the country. The Department of Transportation suspended some off-road break regulations, adjusting “hours of service” for drivers transporting emergency medical supplies. While demand increases, many state-operated truck stops, including lounges, restaurants, and fitness centers, have shut down. Thus, truck drivers are called upon for more and asked to work with fewer amenities.

    The U.S. Xpress director of public affairs, Mary Danielson, rightly called faithful fleet drivers heroes. “They all understand,” she said, “that what they are doing is critical to the country. The majority are reporting to work and getting it done.”

    Steps to Contain COVID-19 Spread

    As many truck drivers step up and continue transporting freight, efforts to remain safe during the pandemic are ever important.

    Of course, fighting to stay personally healthy as a truck driver is of utmost importance. According to Trucking Info, “drivers are uniquely situated to both help the country in its fight to contain the COVID-19 virus – or to facilitate its spread.” Staying healthy is critical for the driver’s personal health – and the health of countless others across the country. Few individuals carry the powerful potential to prevent the spread or promote the spread as much as truckers.

    Standard Guidelines

    As truckers, following these health guidelines are critical:

    • If you feel sick, stay home.
    • Wash your hands with soapy water for at least 20 seconds frequently.
    • Sanitize surfaces touched frequently.
    • Maintain adequate distance from people with respiratory symptoms.
    • Avoid touching your face.
    • Cover your mouth with tissues when you sneeze, and immediately discard used tissues.
    • Wear masks and gloves

    The founder of Konexial, Ken Evans, explains how serious trucker safety is:

    Not just our company, but our entire nation, needs to be doing everything we can to protect truck drivers. We are at the point where truck drivers having PPE is just as important has healthcare workers in hospitals having that gear. These items are in short supply right now. But I am calling on fleets, the trucking industry, and the federal government to work together in a way to supply PPE to drivers. Simple, day-to-day items like masks, face protectors and gloves can play a major role in helping to contain the spread of this virus.

    Symptoms of COVID-19

    Beyond personal hygiene, understanding early onset symptoms of COVID-19 will help drivers identify the virus within themselves and take necessary measures. Early symptoms include:

    • Sudden loss of smell; change in the way foods taste
    • Fever
    • Cough
    • Shortness of breath

    Severe symptoms include:

    • Difficulty breathing
    • Pain or pressure in the chest
    • Confusion
    • Inability to get out of bed
    • Bluish lips or face

    As a truck driver, you should seek medical attention if experiencing severe symptoms. However, when hundreds of miles from a hospital, drivers face a unique challenge.

    One excellent solution, Telemedicine, gives drivers the ability to call a physician anywhere in the country for virtual assistance. Of course, if a more serious medical emergency is taking place, drivers should always call 911.

    Prevent Spread by Taking COVID-19 Seriously

    Like the rest of the American public, truck drivers can stay safe and prevent spread by taking the virus seriously. Healthcare professionals share that the virus is easily transmittable, with the potential to overwhelm the healthcare system. Thus, ever since the virus entered the U.S., governments have been taking steps to prevent its rapid spread.

    One doctor, Jonathan Wiesel, shared that the primary problem with the Coronavirus is its long latency. For example, one may be infected but wait to show symptoms for weeks. In light of the severity of COVID-19, Wiesel strongly suggested a practice of good personal hygiene – “make sure you prevent the spread of the infection to the extent that you can by not shaking hands, and washing your hands religiously and often.”

    Testimonials from Truck Drivers Staying Safe During COVID-19

    Nate McCarty from Denver, Colorado shared his experience as a truck driver during the COVID-19 pandemic with Fox News. He said he was just as busy as during the summertime; however, the kind of freight being carried is unique as grocery and Amazon deliveries increase dramatically. “Some of the truckload carriers,” Nate commented, “they’re running at capacity.”

    Nate explained that many truck drivers have been away from home for months, feeling the need to help other companies and the country. Even though none of Nate’s co-workers were sick during the time of the interview, the cautious truck driver is still taking precautionary measures, like social distancing, to stay healthy while on the road.

    “It’s made me a lot more aware of the place that I go on my trip and everything that I’m touching. I’ve always used antibacterial wipes on the truck and the hotel that I stay in,” he said, “and I wipe everything down on the room and now I’m wearing rubber gloves.”

    Nate described his struggle in finding places to eat due to the increase in carryout-only restaurants. Despite the regular challenges faced on the road, the truck driver from Colorado described the comradery experienced between truckers, even greater now during this time of crisis. “The motoring public,” Nate continued, “had been expressing gratefulness as well, holding up thank-you signs, passing cards, and waving.”

    Tony Spero of Connecticut agreed with Nate McCarty’s experience. He has been able to maintain his regular route despite additional safety measures. Tony shared, “We’re doing what we got to do to keep this country supplied. And we’re going to keep on doing it, and we’re going to do it as safe as possible.”

    Advanced Commercial Capital

    At Advanced Commercial Capital, we are concerned for your trucking company and the safety of your fleet. During a time of global turmoil and unpleasant surprises, we offer consistent freight factoring services, providing you with the immediate cash you need.

    To get in contact with our team, give us a call at 855.465.4655 or via our online contact form.