What Is A Trucking Factoring Company? | How Do Trucking Factoring Companies Work?

What Is A Trucking Factoring Company? How Do Trucking Factoring Companies Work?
Trucking Factoring: Freight Factoring for Truckers? What is freight bill factoring? What are freight factoring companies? These are common questions, and I share my thoughts in this video.
RECOMMENDED RESORUCES FOR YOUR TRUCKING BUSINESS:
DAT Loadboards:
Access to more than 900,000 loads daily. Get your first 30 days FREE here:
DAT TruckersEdge: www.truckersedg...
DAT Power: www.dat.com/pow...
KeepTruckin [ELD]:
Get $100 from KeepTruckin when you sign up here:
mbsy.co/3wwrZH
RTS Financial [Factoring & Fuel Card]:
Same Day Funding, No ACH or Invoice Upload Fees,
Fuel Discounts, and Access to Truck Care maintenance program
www.rtsinc.com...
IRS BACK TAX ISSUES:
Contact me here: www.brandonlind...
ABOUT ME:
Hey TH-cam. I'm Brandon Lindsay, a CPA and former trucking business owner. I make content to help trucking business owners, and I help trucking companies resolve their back tax issues with the IRS.
---
Some of the links above may be affiliate links, and I may receive a small commission, at no additional cost to you.
Disclaimer: Nothing contained in this video should be considered business, legal, tax, or accounting advice. Its content was prepared by Lindsay Accounting LLC (an Indiana accounting firm). This video is for informational and entertainment purposes only and is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. You should consult with the appropriate professional services provider if you have questions about your specific situation.

[@brandonlindsaycpa]

What do you think about factoring? Get the cash ASAP or wait 30 days?

[@tycoontony21]

I’m just now get’n my legal papers go’n, but I’d rather get paid quicker than wait. Now this’ll make you negotiate a higher rate in the future so those factor’n fees can be withheld & u still make $

[@coltconley]

Hi Brandon, I’m curious what the rate is for a typical truck load with a small trucking company. I’m wondering about starting a factoring company for the small truckers in my area, but don’t know how much capital I should invest in the company to start. Is your example of a $2,000 load typical?

[@andrewryabchenko2407]

I think its great to have factoring company as a safety net but wait for broker payout when possible.

[@reinaldomartinez2135]

Thank my brotha, this information helped me a ton 💪🏼🤝🏼

[@princessknowled]

I would love for you to make videos about the accounting entries for factoring companies
And how to handle bad debt expense
Recording bad debt expense on taxes
And how to record on the books when the factoring company takes recourse on a defaulted invoice

[@lindasherrod9887]

GREAT INFO!!!! Keep the videos coming

[@brandonlindsaycpa]

Thanks. Will do!

[@Myhandlenagluho]

Thank you Brandon for the well presented material. Straight to the point!

[@matthewspurgin4220]

Very informative thank you

[@jameswhite5948]

Thanks for the information

[@brandonlindsaycpa]

You’re welcome!

[@joyopeloyeru8498]

Hello! Please can you make a video of how to start a factoring trucking company. Thank you

[@brandonlindsaycpa]

That would be a good video, but I don’t have any experience starting a factoring company.

[@GrandFocus654]

Can you recommend a good Factoring Company for cargo vans? Cant find good rates any help would be great
Thanks your channel has been very helpful
thank you !

[@MeshaWhite-c1k]

My only question is say if you only want to use the facturing sometimes like only send them your invoices when you want I’m not always going to need my cash instantly sometimes i can wait the 30days so again are you obligated to send every invoice to them or can you pick & choose when u want to use them?

[@MeshaWhite-c1k]

*Factoring typo

[@Waytooswoll87]

Hey Brandon! Great Video, very informative. Are you still in the business and currently working with RTS for factoring?

[@BMETransport]

Can a factoring company send payments to 2 different banks?

[@jaluepo]

Factoring companies create 30 days.

[@matthewspurgin4220]

obama