Accutrac Offers Truckers Alternative Financing in Times of Change

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Accutrac Capital are proud to announce one-stop service with an array of cost-effective solutions to manage the cash flow challenges US trucking companies face each and every day.

Accutrac Capital has refocused services and products to better meet the stringent demands of the Trucking Industry. They are proud to announce one-stop service with an array of cost-effective solutions to manage the cash flow challenges US trucking companies face each and every day.

Accutrac Capital introduces Flat Fee Factoring and Factoring Line of Credit, industry unique alternative financing products. Accompanied by a full range of support services such as Load Advance, Fuel Cards, Non-Recourse Factoring and more, Accutrac provides a selection of affordable financial solutions to keep US trucking companies liquid and viable.

2012 saw one of the best years for the US trucking industry since the economic downturn of 2008/2009, with trucks delivering 9.4 billion tons of freight. That translates to 68.5% of all US domestic shipments. Experts are cautiously optimistic for growth for the remainder of 2013 and into 2014. Why cautiously? Some of the challenges facing the US trucking industry as it continues to recover include proposed federal legislation for new ‘hours-of-service’, a shortage of experienced drivers and concerns if the number of trucks on the road could handle a higher than expected increase in demand.

Managing through times of change:
If there is one thing that will help a trucking business owner survive and thrive, it will be their ability to react and adapt to change. That’s true no matter where a trucking business is in the industry’s recovery curve. Whether they’re still on the rebound from tough financial times, or struggling to manage the demands that growth places on their trucking business.

Those companies still on the rebound financially need to ensure sufficient cash flow to take advantage of the industry’s proposed growth, or to invest in restructuring to bring their financials back in line. Accessible cash flow is equally important to trucking companies well into their growth stage. Without the cash flow to take on new orders or invest in resources needed to service new contracts, growth can quickly hit a wall.

In either case, it’s important for a trucking business owner to know where they’ll go to find the financing and cash flow to allow them to adapt to the trucking industry’s changing landscape.

Financing to see truckers through times of change:
“Contingency planning for cash flow is essential to thriving and surviving during these changing times,” says Charles Sheppard, co-owner of Accutrac Capital. “Preparing a 12-month cash flow budget is a great way to get a clear picture of when to expect cash flow to peak or come up short. Planning business expenditures and a backup plan based on these predictions puts the business owner in the driver’s seat instead of relying on knee-jerk reactions to change as it happens.”

Some things to consider in cash flow planning:

  • During times of excess cash flow consider:

        • Creating a cash reserve to draw upon later
        • Repaying debt ahead of time (especially credit card and high interest debt)
        • Taking advantage of early payment discounts from vendors

  • Organize a business line of credit to draw on when necessary. Remember that it’s best to do this during good financial times, not when you’ve hit a cash flow bottom.

When traditional financing isn’t an option: Times of change (including times of rapid growth) can be the hardest times to find financing from traditional sources like banks. During these times, alternative financing is available through alternative financial companies like Accutrac Capital. These include solutions like:

  • A Trucking Load Advance provides up to 50% of a load’s contract value, before the load is delivered.
  • Factoring accounts receivable invoices can create immediate cash of up to 95% of the invoice amount.
  • If a business line of credit isn’t desirable or possible, a Factoring Line of Credit (an alternative financing product exclusive to Accutrac Capital) creates available cash without creating debt.

“All three forms of alternative financing are available even when traditional financing isn’t possible, because qualification is based on the creditworthiness of a trucking company’s customers,” says Sheppard. “We’re proud to provide solutions that ensure business owners have the financial resources they need to seize opportunities as they present themselves.”

About Accutrac: Accutrac Capital is one of North America’s leading alternative financing companies. The US division of Accutrac is headquartered out of Fresno, California. Accutrac’s Canadian division is headquartered in Orillia, Ontario. Accutrac’s newest addition, Accutrac Capital ITC Inc. is headquartered in Mississauga, Ontario. Accutrac offers factoring, alternative financing and related products to companies across various industries. Our purchase order financing and accounts receivable management solutions help businesses throughout the US and Canada keep their cash flow healthy.

For more information about factoring and trucking load advances to create cash flow, contact Accutrac at http://www.accutraccapital.com/.
 
Media Contact:
Bruce Sayer
Accutrac Capital Solutions Inc.
4709 N El Capitan Ave Ste 203
Fresno, CA 93722
1-866-531-2615 ext. 219
Bruce@AccutracCapital.com
www.AccutracCapital.com

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