Aug 15, 2017 • Carriers

5 Best Things About Our Freight Factoring Company

5 Best Things About Our Freight Factoring Company

Why InstaPay is the Best Freight Factoring Company

Using a reliable freight factoring company like Trucker Path InstPay is a great option for owner-operators to better manage their cash flow. However, not all factoring companies are created equal. Here are five things that make InstaPay the best freight factoring company for you.

1. Non-Recourse Factoring – We Collect For You

Our non-recourse factoring means we assume liability to collect from your clients. We pay you for your invoices and we assume the risk to collect, not you. Choosing to factor with our factoring company allows you to operate risk-free and focus on running your business of hauling loads. Send us your bill of lading and rate confirmation right after you haul and we’ll get you paid!

2. Get Paid in a Day

It’s all in our factoring company name. With InstaPay, you no longer have to wait 30 or more days before getting paid by your clients. Our factoring company pays you within a day after hauling a load. it’s instant!

3. Flat Rate – No Fees

Our factoring company charges a one-time, flat rate which means there’s only a one-time charge of a small percentage of the invoice total. There are no hidden costs and you won’t be charged for ridiculous factoring fees that other factoring companies will.

We even offer a special rate on your first load and discounts for referring friends who want to use a freight factoring company like InstaPay as well!

4. The Most Transparent Factoring Company

There are no contracts or commitments with InstaPay, just a short list or terms to agree to. We don’t require you to factor with us for a specific amount of time or require a minimum volume. There is no fine print to worry about. We pride ourselves on being completely transparent.

You’ll never be forced to factor a specific volume or length of terms. Factor on your terms and use InstaPay anytime you want.

5. Easy to Use Right From You Phone

We know how busy you can be, especially when you’re always on the road. Factoring with InstaPay is easy to set up and even easier to use. Our user-friendly Truckloads app allows you to take pictures of your documents and send them right from your phone.

Don’t let your cash flow become an issue. Signing up with our factoring company is a breeze and you can get paid in a day! So what are you waiting for?

[button text=”Sign Up For InstaPay” href=”https://www.getinstapay.com” width=”250px”]

TagsFreight Factoring

Industry Update - January 24, 2020 <h4>By Paul DeCoste</h4> <h3></h3> <h3></h3> <h3><strong>Industry Update</strong></h3> Curious about the top issues discussed in the trucking industry in 2019? Take a look at this graphic from the ATRI Top Industry Issues 2019 survey. <h3> <a href="https://truckerpath.com/uploads/2020/01/image002-1.png"><img class="size-medium wp-image-4869 aligncenter" src="https://truckerpath.com/uploads/2020/01/image002-1-300x244.png" alt="" width="300" height="244" /></a></h3> <h3><strong>Weather Update</strong></h3> <a href="https://www.freightwaves.com/news/snowstorm-lingers-into-weekend-for-midwest-northeast-with-forecast-video">This snowstorm</a> has been building up over the past few days and drivers need to be aware of some potential snowfall in the Midwest. The following locations should be driven on with caution for the weekend; Milwaukee and Green Bay, Wisconsin, Michigan’s upper peninsula, Chicago and South Bend, Indiana. <h3></h3> <h3><strong>Pilot Name Change</strong></h3> <a href="https://cdllife.com/2020/truck-stop-giant-announces-big-name-change/">Just yesterday, Pilot Flying J announced that</a> they are changing their company name to “Pilot Company”. This new corporate name is meant to, “serve as an umbrella that captures the total portfolio of the business as it continues to expand its retail and energy operations.” <h3></h3> <h3><strong>Driver Saves Lives</strong></h3> <a href="https://www.truckersnews.com/driver-fights-fire-at-accident-scene-honored-for-his-efforts/">Linden O’Donnell went out of his way to put out a car fire</a> and help several motorists. He was driving on the right side of Interstate 280 when he witnessed a car smash into the back of a stalled SUV. Thankfully the SUV was empty, but the passengers of the car were barely conscious and in need of help. As fire crept from the engine to the cab, Linden ran to grab his fire extinguisher and put out the flames. This allowed Linden to safely assist the drivers out of the car and out of harm’s way. His courage and ability to react deserves the honor he is receiving. <h3></h3> <h3>New Tech</h3> <a href="https://www.ttnews.com/articles/companies-explore-using-old-electric-car-batteries-cut-costs">This pilot study done by American Electric Power and Nissan Motor Co</a>., is testing the reuse of old batteries to reduce costs for electric cars. This new process has the potential to lower system costs by one-half and even extend the power of lithium batteries by one-third.

Jan 24, 2020 • Carriers

How to Kick-off your Trucking Career [p]If you like road trips and you get excited by the idea of earning money while living ‘life on the road’ then trucking is for you. Trucking is one of the biggest industries in the world and extremely important for the survival and efficient function of an economy. As such, trucking not only helps support the economy, but also helps build it. At the moment around <a href="https://markets.businessinsider.com/news/stocks/trucking-industry-facts-us-truckers-2019-5-1028248577#truck-drivers-earn-less-than-most-americans-in-terms-of-annual-income10">6% of all the jobs available in the U.S are in the trucking industry</a> with more than 7 million people working in the industry right now. The number is growing each year as dependency on trucking increases.[/p] [p]That sounds like an industry where the future is secure and employment guaranteed if you are good at the job. Sounds good right? It sure does but before you can get anywhere near a truck you need to fulfill some obligations like getting a license, choosing a trucking company, and more. Follow the steps below to get started with your stint as a truck driver. [/p] <h2></h2> [img src="https://truckerpath.com/uploads/2020/09/2-1.jpg" alt=""] [p][b]Make Up Your Mind [/b][/p] [p]It is extremely important to get yourself mentally ready before even thinking about getting a license. Trucking sounds exciting but the job is mentally and physically taxing. At times you are required to sleep at truck stops, in cheap motels, or inside your truck's cabin. There aren't many decent places to take a shower and you will eventually run into some dirty truck stops. You may also meet some rude people which will definitely test your patience. Most importantly, you are away from your family for lengthy periods. Therefore, never decide in haste. Sit down and think about it but once you make up your mind do not look back as only excitement and adventure come ahead.[/p] <h2></h2> [img src="https://truckerpath.com/uploads/2020/09/3.jpg" alt=""] [p][b]Apply for a CDL[/b][/p] [p]The first step on the road to becoming a truck driver is to get a commercial driving license (CDL). The CDL is divided into three main categories in North America: [/p] [img src="https://truckerpath.com/uploads/2020/09/cdl_types.jpeg" alt=""] <h2></h2> [p]If your goal is to become a big-rig driver then you need a Class A license. To get that you need to enter into a trucking school. This institute is much like a driving school except in a trucking school you are taught advanced methods of driving a large vehicle. There you will be required to practice and hone your skills both in the classroom and on the field. Generally, trucking school starts at $3,000 for a beginner program. You may avoid paying the whole cost of the trucking school by availing of some financial aid options. If you sign with a carrier before graduation, they may cover some of your educational expenses. Some schools in areas with trucker shortages may also offer scholarships to its students. You are eligible to apply for a Class A license once you have completed at least 160 hours or roughly 10 weeks of training. [/p] [p]Once you have that many hours under your belt simply go to a state-mandated testing facility, pass your test with flying colors and you are good to go. Afterward, you need to go to the licensing authority in your state where you will be required to show your identification, proof of state residency, your Social Security Number (SSN),and proof of passing the CDL exam. The training program for a CDL can last for 3 to 4 weeks so if you are motivated you can get started with your trucking career within a matter of months. [/p] <h2></h2> [img src="https://truckerpath.com/uploads/2020/09/4.jpg" alt=""] [p][b]Pick A Trucking Company[/b][/p] [p]The next step in your road to becoming a truck driver is choosing a good trucking company. There are many good local and national companies across America. That is a good thing because you have the power to choose and differentiate between various trucking companies. As such you should always look for renowned companies that have a good name in the industry. The last thing you want is to end up in a trucking company that is not financially stable and that doesn’t provide you with job perks. [/p] [p]A good company may provide you with health insurance, life insurance, paid vacation, sick leave pay, and more. So choose wisely but don’t waste too much time stalling![/p] <h2></h2> [img src="https://truckerpath.com/uploads/2020/09/5.jpg" alt=""] [p][b]Accept the First Good Job [/b][/p] [p]Most newcomers in the trucking industry waste time by waiting for the right opportunity, the “perfect route”. But that is not advisable. You are a fresh trucker who has just gotten his/her license. It is better to get some and any experience under your belt as soon as possible. Ultimately, the number of hours you spend driving will help you in the future to move up the ladder to better trucking companies. That can also lead to better job perks, better opportunities as a trucker, and a handsome salary. If you wait, a very good trucking contract may come your way but that is a rare possibility. By then, your peers would have moved further up the ladder on to greener pastures while you start late and experience the grit of a newcomer in a tough industry. [/p] <h2></h2> [p][b]Final Thoughts[/b][/p] [p]It is not very hard to get into the trucking business if you have the right mindset and you are motivated. Yes, you may face financial burdens in the beginning but seeing that the <a href="https://www.census.gov/library/stories/2019/06/america-keeps-on-trucking.html#:~:text=More%20than%203.5%20million%20people,occupations%20in%20the%20United%20States.">average trucker</a> makes $50,000 - $60,000 per year the initial burden might not feel a lot to bear. However, you would have to spend time away from family but in the end, all of this is worth the effort. The trucking industry is here to stay and you can make the most of it while having a grand adventure and enjoying the magnificent views in your big rig! [/p] <h2></h2> <h2></h2> [p][b]By Aldous Aldwin[/b][/p]

Sep 08, 2020 • Carriers

Trucking Authority [p]Trucking authority allows owner-operators an opportunity to be their own boss and potentially maximize earnings by hauling freight.[/p] [h2] Trucking Authority [/h2] [p] Trucking authority also known as operating authority means the FMCSA will allow you to transport freight as a motor carrier. Let's say you've been a company driver for over a decade now or that you're a leased owner operator and want to start your own trucking company. Getting your trucking authority is the next step. [/p] [p]Essentially, you will be on your own to find and book loads giving you the freedom to search on load boards for truckloads that are the best fit for you. This allows you to set your own schedule, decide what type of loads you want to haul and what routes you want to take. [/p] [h2] Trucking Authority Requirements [/h2] [p]Trucking authority requirements are implemented by the FMCS trough the Unified Registration System (URS)for new applicants seeking trucking authority.To get trucking authority you will need to register through the <a href="https://portal.fmcsa.dot.gov/UrsRegistrationWizard/">Unified Registration System</a> first. [/p] [p]It will take about 20-25 business days to process according to the FMCSA (unless subject to further review by the agency, in which case it could take an additional eight weeks). [/p] [h2] Types of Trucking Authority [/h2] [p] The different types of authority will affect the type of insurance a carrier will need to meet the requirements of the FMCSA. [/p] [ul] [li] Motor Carrier of Property - requires proof of public liability and cargo insurance [/li] [li] Motor Carrier of Household Goods - doesn't require cargo insurance [/li] [/ul] [p] Regardless of the type of authority, you will need to complete this <a href="https://cms.fmcsa.dot.gov/sites/fmcsa.dot.gov/files/docs/op-1-instructions.pdf">OP-1 form</a> to file for trucking authority. [/p] [h2] Trucking Authority Requires Insurance [/h2] [p] In order to get your authority the FMCSA requires you to provide proof of insurance that you have liability coverage. Your insurance agency will need to submit form BMC-91 which covers public liability in case of an accident causing injury or property damage.[/p] [p]Remember DO NOT submit your proof of insurance directly to the FMCSA. The FMCSA requires that your insurance company submit the form and insurance certificate on your behalf.[/p] [h2]Trucking Authority Cost [/h2] [p]The tucking authority cost is a $300 filing fee that is associated with registering for the FMCSA URS. [/p] [p]Before you start booking loads to haul, there are additional costs and fees. When you're ready, explore our detailed guide that is sure to help you <a href="https://truckerpath.com/blog/how-to-start-a-trucking-company/">start your own trucking company</a>.[/p] [button-green href="https://truckerpath.com/blog/how-to-start-a-trucking-company/?utm_source=blog&utm_medium=authorityJuly27" width="250px"]How to Start a Trucking Company[/button-green]

Jul 27, 2017 • Carriers