New to Factoring?

For those who aren't familiar with factoring, it is basically a fast way to get cash to run your business.

Factoring is Not a Loan

When you send your customers an invoice, they usually have 30 days to pay you back. Factoring companies will give you the bulk of the cash up front, sometimes within 24 hours, and collect the payments from your customers themselves. Once the invoices are paid in full, you’ll get the balance left over, minus a small fee.


Factoring Doesn't Require Debt

Sounds simple enough – fast cash for your business – no loans, no debt.

So how do you go about choosing the best factoring company?

Not all of them are created equal. Not all of them will give you the same level of service you need to help grow your business.

Everyone claims they have the simplest rate structure in the industry, no long-term contracts, same day funding, no up-front fees, no monthly minimums or maximums, fuel partnership programs for truckers, instant credit checks, etc., etc., etc.

We also offer these same benefits, but we GO THE EXTRA MILE FOR YOU that other factoring companies don’t.

Here’s Why We Are The Factoring Company You Need For Your Business

No other factoring company matches our level of superior service and offerings.


As you can see, we simply have more to offer you.

Other factoring companies don’t even compare.
Portland

And Not All Factoring Companies Can Say This:

More than half of our new business comes through client referrals.

So, Can Your Company Use Factoring?

Of Course! Companies of all sizes, from small privately-owned companies to large multi-national corporations, use factoring as a way to increase their cash flow. Factoring spans all industries, including trucking, transportation, manufacturing and distribution, textiles, oil and gas, staffing agencies and more.

Companies use the cash generated from factoring to pay for inventory, buy new equipment, add employees, expand operations—basically any expenses related to their business. Factoring allows a company to make quicker decisions and expand at a faster pace.

Unlike a bank loan, factoring has…

  • No principle or interest to pay over time
  • No debt to repay
  • Unlimited funding potential – no caps
  • Fast funding – no waiting months like at a bank
  • Approval is based on the strength of your clients, not your credit
  • Startups are welcome in using funding services

Some of the benefits you receive with factoring are:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Information for the city of Portland

"

Portland is the largest city in the state of Maine and the county seat of Cumberland County. In 2013, the city proper had a population of 66,318, growing 3 percent since the census of 2000, while the urban area had a population of 203,914. The Greater Portland metropolitan area is home to over half a million people, more than one-third of Maine's total population.Tourists visit Portland's historic Old Port district along Portland Harbor, at the mouth of the Fore River and part of Casco Bay, and the Arts District, which runs along Congress Street in the center of the city. Portland Head Light is located in nearby Cape Elizabeth and marks the entrance to Portland Harbor.The city seal depicts a phoenix rising from ashes, which aligns with the city's motto, Resurgam, Latin for ""I will rise again."" The motto refers to Portland's recoveries from four devastating fires. The city of Portland, Oregon, was named for Portland, Maine.Portland Public Schools is the largest school system in Maine, serving more than 7,000 students. With about 230 restaurants, Portland is believed to have the most restaurants per capita of any city in the United States.

 

Portland has become Maine's economic capital because the city has Maine's largest port, largest population, and is close to Boston (115 miles to the south). Over the years, the local economy has shifted from fishing, manufacturing and agriculture towards a more service-based economy. Most national financial services organizations such as Bank of America, and Key Bank base their Maine operations in Portland. Unum, Magellan Petroleum, Maine Bank & Trust, ImmuCell Corp, and Pioneer Telephone have headquarters here, and Portland's neighboring cities of South Portland, Westbrook and Scarborough, provide homes for other corporations. Since 1867, Burnham & Morrill Co., maker of B&M Baked Beans, has had its main plant in Portland. The plant is considered a local and state landmark.

 

"

 

Information for the state of Maine

The Bureau of Economic Analysis estimates that Maine's total gross state product for 2010 was $52 billion. Maine's agricultural outputs include poultry, eggs, dairy products, cattle, wild blueberries, apples, maple syrup and maple sugar. Aroostook County is known for its potato crops. Commercial fishing, once a mainstay of the state's economy, maintains a presence, particularly lobstering and groundfishing. Western Maine aquifers and springs are a major source of bottled water. Maine's industrial outputs consist chiefly of paper, lumber and wood products, electronic equipment, leather products, food products, textiles, and bio-technology. Naval shipbuilding and construction remain key as well, with Bath Iron Works in Bath and Portsmouth Naval Shipyard in Kittery. Naval Air Station Brunswick is also in Maine, and formerly served as a large support base for the U.S. Navy. Maine is the number one exporter of blueberries. Tourism and outdoor recreation play a major and increasingly important role in Maine's economy. The state is a popular destination for sport hunting (particularly deer, moose and bear), sport fishing, snowmobiling, skiing, boating, camping and hiking, among other activities.

 

 

You have things to do and sometimes it just does not make sense to put them off until you get paid  

The majority of Freight Factoring companies purchase invoices and advance cash within 24 hours, although the terms and nature of Freight Factoring can differ between industries and different financial service providers. -Maine Trucking Factoring Companies

 

 

DO YOUR RECEIVABLES TURN AS QUICKLY AS YOU WOULD LIKE  

Maine Trucking Factoring Companies Articles

Factoring Companies - Benefits

 

Factoring companies offer a wide variety of benefits to businesses. Factoring companies conduct financial business by allowing a business to sell its invoices to a factor (also known as a third party business or individual.) The price that the business charges is discounted in order to sell the invoices that are currently held, and make the cash that is immediately needed for any type of expenditures involving the business. A business that has immediate cash needs, but has no cash to pay for the expenditures that has occurred often ends up going under and eventually shutting down completely. This takes a lot of jobs away from people, and can leave you working for someone else, no longer running for your business. No one wants to take this large step down from the current place that they are in. A business owner has worked incredibly hard to get to where he or she currently is, and does not deserve to have their business become obsolete. This is where the factoring companies can be a huge help to businesses.

 

Invoice FactoringKeep in mind that factoring companies do not use the same process as invoice discounting. Instead, invoice factoring (also called the “Assignment of Accounts Receivable” by the FASB and GAAP) is the sale of invoices, instead of invoice discounting which involves collateral in order to ensure that the individual who took out the invoice discounting loan will pay it back. Factoring is not a loan; instead, factoring is the sale of invoices in order to get immediate cash. There is no loan in the process of factoring, and you will never have to pay the money back.

 

Since the invoices that are sold are also called receivables, the entire process of factoring is usually called the sale of receivables. Receivable factoring is much better than trying to take a loan out from the bank. Banks charge interest on any type of loan, and although there is usually collateral, it can put you in even more debt than you currently are. In addition, factoring companies are never going to give you a loan. When a factoring company funds your discounted receivable, he or she will choose to buy the receivable, giving you cash immediately. This cash can pull your entire business out of the hole that it is currently in. Instead of taking a loan out and getting yourself further into debt, factoring allows you to simply sell your own invoices and get back most of the money that you originally put into them. Although this may seem like a bad process since you are selling valuable invoices, it is important to do, as the invoices are completely useless if your entire business goes under. Instead of trying to take a loan out to keep all of your receivables (invoices) factoring companies benefit you directly by giving you the cash you need.

 

Benefits of Factoring Companies / Invoice Factoring / Receivable FactoringWhen you are in a bind and really need money in order to get through the next few months, it can be very troublesome. Although the first thought in most peoples’ minds would be to visit the nearest bank as soon as possible and take out some kind of loan, this is very dangerous. Although the loan may hold your business over for the next few months, it is simply delaying the same money crunch you already had. Unless your business is making an incredible amount of money, the bank loan that you took out has increased in the price that you must pay bank. Interest on a bank loan is how the banks make money and survive. Many loans have a very high interest rate, and if you are unable to pay the loan back in a short amount of time, you are going to be in more of a money crunch than you originally were in. In order to pay back the loan, you would have to make a large amount of money in a very short time, which is unlikely if you needed to take out the loan in the first place.

 

Rather than bothering with bank loans that will inevitably put you back in the money hole that you were in when you took it out, factoring companies are available to help you. A factoring company is a place where businesses can place their invoices for sale at a discounted price, which will allow them to receive immediate cash. As aforementioned, this money does not need to be paid back, as it is not a loan. Keep in mind, you are not selling your business. You are selling invoices in order to keep your business growing. You will be able to get more invoices in the future when your business is back up and running, but if you do not sell these invoices, you will never be back up and running.

 

When you are in a money crunch, don’t put yourself back in the money hole that you are in by taking out a bank loan. Utilize factoring companies in order to get immediate cash that will help you get back up and running without putting a loan on your business.

 

 

 

You have things to do and sometimes it just does not make sense to put them off until you get paid

 

 

Maine Trucking Factoring Companies Articles

Bookkeeping Mistakes Commonly Made by Freight Brokers

 

It’s true that freight brokers shoulder a lot of responsibility; from matching shippers and carriers, to ensuring that each and every piece of cargo arrives at its proper destination. Freight brokers also have the added responsibility of accurate bookkeeping, because failure to prioritize bookkeeping can result in the loss of money.

 

Below we’ve listed some common bookkeeping mistakes made by freight brokers, and how to avoid them–

 

Handling the Accounting In-House

 

Many business owners try to save money by handling the books themselves, or perhaps delegating this very important task to a family member or an inexperienced employee. Sure, you may save time and money initially, but errors can be costly: when you attempt DIY accounting you could well end up with more expensive financing terms, higher bond premiums, or a number of other unforeseen expenses. It’s very important that you hire a competent bookkeeper because, not only will you save money, but you’ll know that the job will be done accurately, quicker, and more efficiently.

 

We understand only too well that running any business is time-consuming and hard work, and many freight brokers are simply too busy doing their day-to-day tasks to focus on bookkeeping tasks, such as the monthly reconciliation of credit card accounts and bank accounts. It’s through reconciling statements that you get a clear idea of how much credit or cash you actually have, and you can also pick up on any errors that may have occurred.

 

It can be so tempting to postpone this rather tedious task, but the truth is that your credit card statements and bank statements must be reconciled every month, preferably the moment each statement becomes available. In this way you’ll be able to identify any potential problems in a timely manner; problems such as lost checks, missing deposits, fraudulent charges, and so on.

 

Failing to Track Invoices and Receivables

 

You’re not going to get paid if you’re using poor accounting practices with your accounts receivable. Let’s face it, getting paid equals cash, and cash is the lifeblood of every business. An experienced freight broker understands that your cash flow can be strained by the delay between when you pay your carriers and when you receive payment from your customers. If you’re finding that tracking and collecting invoices is taking too long, why not consider invoice factoring? An invoice factoring company will purchase your invoices for a small fee, with the bonus being that you get paid immediately, plus you’re spared the time and expense of having to deal with collections.

 

Don’t Forget Liabilities

 

One of the major considerations a surety has when looking at your business financials in order to underwrite a bond is whether you have sufficient assets to cover your liabilities. Many times we see an inexperienced bookkeeper recording a liability, but when the payment is made they forget to reverse the liability. This is a serious error because it results in liabilities being overstated and net income being understated, which makes your business appear to be less financially secure than it really is. These serious errors can be avoided by employing the services of an experienced bookkeeper. We also recommend that you have another set of eyes (which may be an owner or a CPA) regularly review the balance sheet to check for unusual account balances

 

Too Many Expense Categories

 

Another common error we often see with inexperienced bookkeepers is creating too many expense categories, or miscategorizing expenses. Generally, most industries and businesses have a standard set of expense categories, and when a loan underwriter or surety sees too many categories, or the miscategorizing of expenses, it stands out like a big red flag. It tells them that your books are not well prepared. Use an accountant or experienced bookkeeper to correctly set up your accounting software right from the beginning, and don’t automatically add new expense categories unless careful consideration has been made. Remember to ask your accountant or CPA for advice, because they’ll be able to guide you on how to classify expenses.

 

Incomplete Information on Invoices

 

It’s very important that, when you invoice your customers, you provide sufficient detail on each line item. Do you invoice by weight, per piece, or per mile? Or is the charge a flat fee? If there are additional charges to invoice, such as reimbursements for fuel or fees, these should be listed as separate line items. In addition, these charges must be clearly and accurately detailed in order to avoid any confusion. When you send invoices to your customers that include clear and concise details, it prevents pushback from your clients. If there’s missing information on your invoices and your customers are confused by unrecognizable charges, it could well cause a delay in payment, which is the very last thing business owners need.

 

Not Understanding the Functionality of Accounting Software

 

Many freight brokers purchase an accounting software package because they’re anxious to get their business up and running, but they fail to learn how to use it correctly. This is probably not an issue if you’re already outsourcing your accounting and bookkeeping tasks; but if you’re using this software in any way at all, perhaps to enter checks and run reports, it’s important that you spend some time learning how to use all the available functions. When used correctly, the right accounting software can save you a lot of time, in addition to providing real-time information on the state of your business. It’s this information that helps you make important business decisions!

 

 

 

 

Maine Trucking Factoring Companies Articles

Oilfield Services Factoring Services

 

Running a company in the oilfield services industry is no easy business, especially with payrolls to meet, equipment to purchase and deadlines that must be met. The sheer complexity of combining the geological research and modeling, imaging and exploration and finally the drilling to see whether oil is really present can take a lot of investment before any payoff can be seen.

 

For those who own a Frac Sand Hauler for example, the efforts that must be put in to start such as business can be considerable. But arguably the biggest challenge is paying the expenses as the invoices come in. A Frac Sand Hauler often has expenses that must be met immediately, but their invoices can take up to 60 days before they see the money.

 

What follows is an interview with Ray McClerand, a man who owns a Frac Sand Hauler business and ran into the same difficulties that many new companies of his type face. How Ray overcome some of the challenges in paying his bills through oil service factoring are explained in the interview.

 

“Welcome Ray, I’d like to know first why you decided to start up a Frac Sand Hauler company and how you prepared for the challenges it created.”

 

Ray McClerand (RM): “I’ve been in the oil business for the past 15 years or so working on different jobs from roughneck to foreman to deskwork for different companies. A few years ago I saw the potential of having a Frac Sand Hauler business in this area and got together with a couple of partners to create a company. We sat down, went over the details and decided that this would be a real good time to build a business that was serving a particular need in this industry.”

 

“So, I take it you created a business plan and took out the appropriate loans in order to purchase the equipment and hire the personnel necessary to get your company started?”

 

RM: “Exactly. Because I had been around this business for a while, I understood what was needed in terms of personnel and equipment. Plus, I had some contacts with others in the business that needed the type of services that a Frac Sand Hauler provides, so I felt that there was some real potential to make a profitable business work.”

 

“How did it go over the first six months or so?”

 

RM: “At first, we were really thriving as my contacts had lined up some business my way. Our loans covered the first six months or so of operations and we were doing quite well with the business we had. My partners and I were certainly happy and everything was going good when something really strange happened.”

 

“Could you elaborate on what you mean by “strange”?

 

RM: “Yes, after the first five months or so I started getting requests to have our company work with several other businesses in the area. This would mean having to expand our company through buying new equipment and hiring more people. But we did not have the cash on hand to make such a move. We were getting invoices from the businesses that we worked with, but it was taking up to 2 full months before we actually got the cash.”

 

“So, you were making enough money to expand, but you didn’t have it on hand because of the invoice system?”

 

RM: “You got it. Add to that our initial money from the loan was running out and we needed to start paying it back as well. I knew that if we didn’t expand and accept the new business that others would step in and we would lose that money. So, we were in a real pickle until I heard about oil service factoring companies.”

 

“Tell us a bit about oil service factoring and how it helped you out?”

 

RM: “Well, one of my partners had heard about factoring companies, so we checked it out and decided to go with one that was best suited for our needs. A factoring company buys our invoices with cash so we have money on hand to pay our bills and do what we need accomplished immediately. The factoring company then collects the money from the invoices when they become due. It’s really been a win-win for what we do.”

 

“That’s interesting. I wonder if you could you explain a little further just how factoring has helped your company?”

 

RM: “Sure, instead of having to wait up to 60 days before we could collect on the invoices, we were able to have the cash on hand immediately to purchase some new equipment and hire some more people to expand our business. This meant that we could accept the new offers that other businesses were providing for us and not having to pass. I cannot say enough about how factoring really benefitted us when it came to expanding our business.”

 

“So, it seems like factoring really paid off for you. Do you still use factoring today?”

 

RM: “Yes we do. Although for the most part we still cash our own invoices, whenever we need money quickly so we can buy some new equipment or expand our business a little further, we go back to the factoring company and cash in our upcoming invoices. It really has worked wonders for our company.”

 

“Tell me, what would have happened if factoring was not an option?”

 

RM: Frankly, I don’t know how we could be in the position we are today without factoring. In this business, you have to take advantage of new opportunities quickly because there are other companies out there who will step in if you don’t. Basically, I don’t think we would be anywhere near the company we are today if it had not been for factoring.

 

There is little doubt that Ray’s company would not be where it was without oil service factoring that allowed him to expand his company when he needed. For those in the oil industry, having your invoices cashed immediately by factoring companies allows greater flexibility so you can grow your business a lot more quickly and take advantage of opportunities.

 

 

 

You Can Find More Information at  http://freightinvoicefactoring.org/
and at http://nonrecoursefactoring.org

Call Us Today at: 1-800-986-1854

 

Watch our Factoring Company Video below to see how we work for you.

 

div class="embed-responsive embed-responsive-4by3 overlay-container">
 


 

Get CASH NOW for your outstanding invoices.

 

 

Some history on the Freight Broker Industry

 

The Logistics and Transportation Industry in the United States

The logistics and transportation industry in the United States is highly competitive. By investing in this sector, multinational firms position themselves to better facilitate the flow of goods throughout the largest consumer market in the world.. International and domestic companies in this industry benefit from a highly skilled workforce and relatively low costs and regulatory burdens.

 

Shipping Port

 

Spending in the U.S. logistics and transportation industry totaled $1.33 trillion in 2012, and represented 8.5 percent of annual gross domestic product (GDP). Analysts expect industry investment to correlate with growth in the U.S. economy.

 

A highly integrated supply chain network in the United States links producers and consumers through multiple transportation modes, including air and express delivery services, freight rail, maritime transport, and truck transport. To serve customers efficiently, multinational and domestic firms provide tailored logistics and transportation solutions that ensure coordinated goods movement from origin to end user through each supply chain network segment. Industry Subsectors

 

Logistics services: This subsector includes inbound and outbound transportation management, fleet management, warehousing, materials handling, order fulfillment, logistics network design, inventory management, supply and demand planning, third-party logistics management, and other support services. Logistics services are involved at all levels in the planning and execution of the movement of goods.

 

Air and express delivery services (EDS): Firms offer expedited, time-sensitive, and end-to-end services for documents, small parcels, and high-value items. EDS firms also provide the export infrastructure for many exporters, particularly small and medium-sized businesses that cannot afford to operate their own supply chain.

 

Freight rail: High volumes of heavy cargo and products are transported long distances via the U.S. rail tracking network. Freight rail moves more than 70 percent of the coal, 58 percent of its raw metal ores, and more than 30 percent of its grain for the nation. This subsector accounted for approximately one third of all U.S. exports.

 

Maritime: This subsector includes carriers, seaports, terminals, and labor involved in the movement of cargo and passengers by water. Water transportation carries about 78 percent of U.S. exports by tonnage, via both foreign-flag and U.S.-flag carriers.

 

Trucking: Over-the-road transportation of cargo is provided by motor vehicles over short and medium distances. The American Trucking Associations reports that in 2012, trucks moved 9.4 billion tons of freight, or about 68.5 percent of all freight tonnage transported domestically. Motor carriers collected $642 billion in revenues, or about 81 percent of total revenue earned by all domestic transport modes.

 

Industry Associations:

 

American Association of Port Authorities
American Society of Transportation and Logistics
American Trucking Associations
Association of American Railroads
Council of Supply Chain Management Professionals
Express Delivery and Logistics Association
Industry Publications:

 

American Shipper
Journal of Commerce
Material Handling & Logistics
Transport Intelligence
Transport Topics

 

North American Industry Classification System For Transportation

 

The Transportation and Warehousing sector includes industries providing transportation of passengers and cargo, warehousing and storage for goods, scenic and sightseeing transportation, and support activities related to modes of transportation. Establishments in these industries use transportation equipment or transportation related facilities as a productive asset. The type of equipment depends on the mode of transportation. The modes of transportation are air, rail, water, road, and pipeline.

 

The Transportation and Warehousing sector distinguishes three basic types of activities: subsectors for each mode of transportation, a subsector for warehousing and storage, and a subsector for establishments providing support activities for transportation. In addition, there are subsectors for establishments that provide passenger transportation for scenic and sightseeing purposes, postal services, and courier services.

 

A separate subsector for support activities is established in the sector because, first, support activities for transportation are inherently multimodal, such as freight transportation arrangement, or have multimodal aspects. Secondly, there are production process similarities among the support activity industries.

 

One of the support activities identified in the support activity subsector is the routine repair and maintenance of transportation equipment (e.g., aircraft at an airport, railroad rolling stock at a railroad terminal, or ships at a harbor or port facility). Such establishments do not perform complete overhauling or rebuilding of transportation equipment (i.e., periodic restoration of transportation equipment to original design specifications) or transportation equipment conversion (i.e., major modification to systems). An establishment that primarily performs factory (or shipyard) overhauls, rebuilding, or conversions of aircraft, railroad rolling stock, or a ship is classified in Subsector 336, Transportation Equipment Manufacturing according to the type of equipment.

 

Many of the establishments in this sector often operate on networks, with physical facilities, labor forces, and equipment spread over an extensive geographic area.

 

Truck Transportation

 

Industries in the Truck Transportation subsector provide over-the-road transportation of cargo using motor vehicles, such as trucks and tractor trailers. The subsector is subdivided into general freight trucking and specialized freight trucking. This distinction reflects differences in equipment used, type of load carried, scheduling, terminal, and other networking services. General freight transportation establishments handle a wide variety of general commodities, generally palletized, and transported in a container or van trailer. Specialized freight transportation is the transportation of cargo that, because of size, weight, shape, or other inherent characteristics require specialized equipment for transportation.

 

Each of these industry groups is further subdivided based on distance traveled. Local trucking establishments primarily carry goods within a single metropolitan area and its adjacent nonurban areas. Long distance trucking establishments carry goods between metropolitan areas.

 

The Specialized Freight Trucking industry group includes a separate industry for Used Household and Office Goods Moving. The household and office goods movers are separated because of the substantial network of establishments that has developed to deal with local and long-distance moving and the associated storage. In this area, the same establishment provides both local and long-distance services, while other specialized freight establishments generally limit their services to either local or long-distance hauling.

 

General Freight Trucking

 

This industry group comprises establishments primarily engaged in providing general freight trucking. General freight establishments handle a wide variety of commodities, generally palletized, and transported in a container or van trailer. The establishments of this industry group provide a combination of the following network activities: local pickup, local sorting and terminal operations, line-haul, destination sorting and terminal operations, and local delivery.

 

General Freight Trucking, Local

 

This industry comprises establishments primarily engaged in providing local general freight trucking. General freight establishments handle a wide variety of commodities, generally palletized and transported in a container or van trailer. Local general freight trucking establishments usually provide trucking within a metropolitan area which may cross state lines. Generally the trips are same-day return.

 

General Freight Trucking, Long-Distance

 

This industry comprises establishments primarily engaged in providing long-distance general freight trucking. General freight establishments handle a wide variety of commodities, generally palletized and transported in a container or van trailer. Long-distance general freight trucking establishments usually provide trucking between metropolitan areas which may cross North American country borders. Included in this industry are establishments operating as truckload (TL) or less than truckload (LTL) carriers.

 

General Freight Trucking, Long-Distance, Truckload

 

This U.S. industry comprises establishments primarily engaged in providing long-distance general freight truckload (TL) trucking. These long-distance general freight truckload carrier establishments provide full truck movement of freight from origin to destination. The shipment of freight on a truck is characterized as a full single load not combined with other shipments.

 

General Freight Trucking, Long-Distance, Less Than Truckload

 

This U.S. industry comprises establishments primarily engaged in providing long-distance, general freight, less than truckload (LTL) trucking. LTL carriage is characterized as multiple shipments combined onto a single truck for multiple deliveries within a network. These establishments are generally characterized by the following network activities: local pickup, local sorting and terminal operations, line-haul, destination sorting and terminal operations, and local delivery.

 

Specialized Freight Trucking

 

This industry group comprises establishments primarily engaged in providing local or long-distance specialized freight trucking. The establishments of this industry are primarily engaged in the transportation of freight which, because of size, weight, shape, or other inherent characteristics, requires specialized equipment, such as flatbeds, tankers, or refrigerated trailers. This industry includes the transportation of used household, institutional, and commercial furniture and equipment.

 

Used Household and Office Goods Moving

 

This industry comprises establishments primarily engaged in providing local or long-distance trucking of used household, used institutional, or used commercial furniture and equipment. Incidental packing and storage activities are often provided by these establishments. Specialized Freight (except Used Goods) Trucking, Local

 

Specialized Freight (except Used Goods) Trucking, Long-Distance

 

This industry comprises establishments primarily engaged in providing long-distance specialized trucking. These establishments provide trucking between metropolitan areas that may cross North American country borders.

 

Freight Broker

 

A freight broker is an individual or company that serves as a liaison between another individual or company that needs shipping services and an authorized motor carrier. Though a freight broker plays an important role in the movement of cargo, the broker doesn't function as a shipper or a carrier. To operate as a freight broker, a business or individual must obtain a license from the Federal Motor Carrier Safety Administration (FMCSA). Freight brokers are required to carry surety bonds as well.

 

Freight broker services are valuable to both shippers and motor carriers. Freight brokers help shippers find reliable carriers that might otherwise be difficult to locate. They assist motor carriers in filling their trucks and earning money for transporting a wide variety of items. For their efforts, freight brokers earn commissions.

 

Freight brokers use their knowledge of the shipping industry and technological resources to help shippers and carriers accomplish their goals. Many companies find the services provided by freight brokers indispensable. In fact, some companies hire brokers to coordinate all of their shipping needs.

 

Often, freight brokers are confused with forwarders. Though a freight forwarder performs some of the same tasks as a freight broker, the two are not the same. A forwarder takes possession of the items being shipped, consolidates smaller shipments, and arranges for the transportation of the consolidated shipments. By contrast, a freight broker never takes possession of items being shipped thus in the absence of negligent entrustment, a freight broker is not normally involved as a party litigant in a cargo claim dispute, although as an accommodation, the freight broker may assist the shipper at their request and expense with filing freight claims.

 

NAICS Index Description

 

484110 Bulk mail truck transportation, contract, local
484110 Container trucking services, local
484110 General freight trucking, local
484110 Motor freight carrier, general, local
484110 Transfer (trucking) services, general freight, local
484110 Trucking, general freight, local
484121 Bulk mail truck transportation, contract, long-distance (TL)
484121 Container trucking services, long-distance (TL)
484121 General freight trucking, long-distance, truckload (TL)
484121 Motor freight carrier, general, long-distance, truckload (TL)
484121 Trucking, general freight, long-distance, truckload (TL)
484122 General freight trucking, long-distance, less-than-truckload (LTL)
484122 LTL (less-than-truckload) long-distance freight trucking
484122 Motor freight carrier, general, long-distance, less-than-truckload (LTL)
484122 Trucking, general freight, long-distance, less-than-truckload (LTL)
484210 Furniture moving, used
484210 Motor freight carrier, used household goods
484210 Trucking used household, office, or institutional furniture and equipment
484210 Used household and office goods moving
484210 Van lines, moving and storage services
484220 Agricultural products trucking, local
484220 Automobile carrier trucking, local
484220 Boat hauling, truck, local
484220 Bulk liquids trucking, local
484220 Coal hauling, truck, local
484220 Dry bulk trucking (except garbage collection, garbage hauling), local
484220 Dump trucking (e.g., gravel, sand, top soil)
484220 Farm products hauling, local
484220 Flatbed trucking, local
484220 Grain hauling, local
484220 Gravel hauling, local
484220 Livestock trucking, local
484220 Log hauling, local
484220 Milk hauling, local
484220 Mobile home towing services, local
484220 Refrigerated products trucking, local
484220 Rubbish hauling without collection or disposal, truck, local
484220 Sand hauling, local
484220 Tanker trucking (e.g., chemical, juice, milk, petroleum), local
484220 Top-soil hauling, local
484220 Tracked vehicle freight transportation, local
484220 Trucking, specialized freight (except used goods), local
484230 Automobile carrier trucking, long-distance
484230 Boat hauling, truck, long-distance
484230 Bulk liquids trucking, long-distance
484230 Dry bulk carrier, truck, long-distance
484230 Farm products trucking, long-distance
484230 Flatbed trucking, long-distance
484230 Forest products trucking, long-distance
484230 Grain hauling, long-distance
484230 Gravel hauling, long-distance
484230 Livestock trucking, long-distance
484230 Log hauling, long-distance
484230 Mobile home towing services, long-distance
484230 Radioactive waste hauling, long-distance
484230 Recyclable material hauling, long-distance
484230 Refrigerated products trucking, long-distance
484230 Refuse hauling, long-distance
484230 Rubbish hauling without collection or disposal, truck, long-distance
484230 Sand hauling, long-distance
484230 Tanker trucking (e.g., chemical, juice, milk, petroleum), long-distance
484230 Tracked vehicle freight transportation, long-distance
484230 Trash hauling, long-distance
484230 Trucking, specialized freight (except used goods), long-distance
484230 Waste hauling, hazardous, long-distance
484230 Waste hauling, nonhazardous, long-distance

 

Economic Impact of Trucking

 

The importance of trucking can summed up by an old industry addage: "If you bought it, a truck brought it." Retail stores, hospitals, gas stations, garbage disposal, construction sites, banks, and even a clean water supply depends entirely upon trucks to distribute vital cargo. Even before a product reaches store shelves, the raw materials and other stages of production materials that go into manufacturing any given product are moved by trucks.

 

Trucking is vitally important to U.S. industry, however, measuring the impact of trucking on the economy is more difficult, because trucking services are so intertwined with all sectors of the economy. According to the measurable share of the economy that trucking represents, the industry directly contributes about 5 percent to the gross domestic product annually. In addition, the industry plays a critical support role for other transportation modes and for other sectors of the economy such as the resource, manufacturing, construction, and wholesale and retail trade industries

Third Party Logistics-Freight Brokers 

Freight Brokers

 

Freight brokers are federally regulated and bonded companies. Most commonly they have a vast network and access to a library of freight carriers and search for the right availability based on customer specifications. These brokers also offer various value-added services that encompass transportation, logistics, and distribution. Typically, freight brokers do not touch the freight. They engage in helping shippers find the best price with the best carrier for any given load.

 

The proliferation of freight brokers called for an increase in financial integrity and liability of these companies, which has led to the passing of the Moving Ahead for Progress in the 21st Century Act. In order to obtain a license to broker freight, a freight brokerage must purchase a surety bond or trust agreement with the Federal Motor Carrier Safety Administration. Prior to June 2012 when the bill was signed by President Obama, the surety bond coverage required to hold a broker license was $10,000. Effective October 1, 2013, the surety bond requirement increased to $75,000.

 

Other logistics companies include 3rd-Party Logistics Providers. They offer a variety of supply chain and distribution-related practices and techniques in order to improve in-house logistics. The main difference between a traditional freight broker and most 3rd-Party Logistics Providers is that freight brokers do not actually touch the freight, whereas 3rd-Party Logistics providers often do.

 

 

Maine Trucking Factoring Companies Links

Alaska

 

Arizona

 

Arkansas

 

California

 

Colorado

 

Connecticut

 

Delaware

 

Florida

 

Georgia

 

Hawaii

 

Idaho

 

Illinois

 

Indiana

 

Iowa

 

Kansas

 

Kentucky

 

Louisiana

 

Maine

 

Maryland

 

Massachusetts

 

Michigan

 

Minnesota

 

Mississippi

 

Missouri

 

Montana

 

Nebraska

 

Nevada

 

New Hampshire

 

New Jersey

 

New Mexico

 

New York

 

North Carolina

 

North Dakota

 

Ohio

 

Oklahoma

 

Oregon

 

Pennsylvania

 

Rhode Island

 

South Carolina

 

South Dakota

 

Tennessee

 

Texas

 

Utah

 

Vermont

 

Virginia

 

Washington

 

West Virginia

 

Wisconsin

 

Wyoming

 

Alabama

 

Alaska

 

Arizona

 

Arkansas

 

California

 

Colorado

 

Connecticut

 

Delaware

 

Florida

 

Georgia

 

Hawaii

 

Idaho

 

Illinois

 

Indiana

 

Iowa

 

Kansas

 

Kentucky

 

Louisiana

 

Maine

 

Maryland

 

Massachusetts

 

Michigan

 

Minnesota

 

Mississippi

 

Missouri

 

Montana

 

Nebraska

 

Nevada

 

New Hampshire

 

New Jersey

 

New Mexico

 

New York

 

North Carolina

 

North Dakota

 

Ohio

 

Oklahoma

 

Oregon

 

Pennsylvania

 

Rhode Island

 

South Carolina

 

South Dakota

 

Tennessee

 

Texas

 

Utah

 

Vermont

 

Virginia

 

Washington

 

West Virginia

 

Wisconsin

 

Wyoming

 

Alabama

 

Alaska

 

Arizona

 

Arkansas

 

California

 

Colorado

 

Connecticut

 

Delaware

 

Florida

 

Georgia

 

Hawaii

 

Idaho

 

Illinois

 

Indiana

 

Iowa

 

Kansas

 

Kentucky

 

Louisiana

 

Maine

 

Maryland

 

Massachusetts

 

Michigan

 

Minnesota

 

Mississippi

 

Missouri

 

Montana

 

Nebraska

 

Nevada

 

New Hampshire

 

New Jersey

 

New Mexico

 

New York

 

North Carolina

 

North Dakota

 

Ohio

 

Oklahoma

 

Oregon

 

Pennsylvania

 

Rhode Island

 

South Carolina

 

South Dakota

 

Tennessee

 

Texas

 

Utah

 

Vermont

 

Virginia

 

Washington

 

West Virginia

 

Wisconsin

 

Wyoming

 

Alabama

 

Alaska

 

Arizona

 

Arkansas

 

California

 

Colorado

 

Connecticut

 

Delaware

 

Florida

 

Georgia

 

Hawaii

 

Idaho

 

Illinois

 

Indiana

 

Iowa

 

Kansas

 

Kentucky

 

Louisiana

 

Maine

 

Maryland

 

Massachusetts

 

Michigan

 

Minnesota

 

Mississippi

 

Missouri

 

Montana

 

Nebraska

 

Nevada

 

New Hampshire

 

New Jersey

 

New Mexico

 

New York

 

North Carolina

 

North-Dakota

 

Ohio

 

Oklahoma

 

Oregon

 

Pennsylvania

 

Rhode Island

 

South Carolina

 

South Dakota

 

Tennessee

 

Texas

 

Utah

 

Vermont

 

Virginia

 

Washington

 

West Virginia

 

Wisconsin

 

Wyoming

 

Trucking Factoring

 

Trucking Factoring Companies Reviews

 

Factoring Trucking Receivables

 

Best Trucking Factoring Company

 

Best Trucking Factoring

 

Transportation Factoring Trucking

 

Trucking Invoice Factoring Companies

 

Trucking Factoring Companies Reviews

 

Trucking Factoring Company

 

Trucking Factoring

 

Trucking Factoring Company

 

Trucking Factoring Companies Reviews

 

Transportation Factoring Company

 

Trucking Factoring Services

 

Freight Factoring Companies For Brokers

 

Freight Factoring Companies California

 

Best Trucking Factoring Company

 

Trucking Invoice Factoring Companies

 

Trucking Factoring Companies Reviews

 

Factoring Trucking Receivables

 

Best Trucking Factoring Company

 

Best Trucking Factoring

 

Transportation Factoring Trucking

 

Trucking Invoice Factoring Companies

 

Factoring Trucking Receivables

 

Best Trucking Factoring Company

 

Best Trucking Factoring

 

Transportation Factoring Trucking

 

Trucking Invoice Factoring Companies

 

Trucking And Factoring

 

Factoring Trucking Business

 

Freight Bill Factoring

 

Freight Broker Factoring

 

Freight Broker Factoring Companies

 

Freight Bill Factoring Companies

 

Factoring Freight Brokers Only

 

Factoring Transportation Brokers

 

Best Trucking Factoring Company

 

Truck Factoring Calculator

 

Freight Factoring Companies For Brokers

 

Freight Factoring Companies California

 

Best Trucking Factoring Company

 

Trucking Invoice Factoring Companies

 

Truck Factoring Definition

 

Freight Factoring Definition

 

Truck Driver Factoring

 

Freight Factoring For Brokers

 

Freight Forwarding Factoring

 

Factoring For Trucking Companies

 

Factoring For Trucking

 

Factoring For Trucking Companies

 

Factoring For Trucking Companies

 

Factoring Services For Trucking Companies

 

Factoring Companies For Trucking Industry

 

Factoring For Trucking

 

Factoring For Trucking Companies

 

Factoring For Trucking

 

Factoring Services For Trucking Companies

 

Factoring Trucking Receivables

 

Best Factoring Companies For Trucking

 

Factoring Services For Trucking Companies

 

Factoring Trucking Receivables

 

Best Factoring Companies For Trucking

 

Factoring Trucking Industry

 

Trucking Invoice Factoring

 

Trucking Invoice Factoring Companies

 

Freight Invoice Factoring

 

Trucking Invoice Factoring Companies

 

Freight Invoice Factoring

 

Freight Invoice Factoring

 

Freight Bill Factoring

 

Freight Bill Factoring Companies

 

Transportation Invoice Factoring

 

Factoring Truck Loads

 

Trucking Factoring Rates

 

Factoring Trucking Receivables

 

Freight Factoring Rates

 

Freight Factoring Reviews

 

Trucking Factoring Companies Reviews

 

Freight Factoring Rates

 

Transportation Factoring Solutions

 

Trucking Factoring Service

 

Transportation Factoring Trucking