





Freight Factoring Process [p]Here's a step-by-step guide to better understand the freight factoring process and how it can be beneficial for your trucking company.[/p]
[h2] Freight Factoring Process [/h2]
[p] The freight factoring process might sound complicated and even overwhelming but it doesn't have to be. It can be better understood by following our easy to follow guide, along with choosing a <a href="https://truckerpath.com/blog/freight-factoring-company/">freight factoring company like <strong>InstaPay</strong></a>. that makes the process of getting paid easier than ever! [/p]
[h2] What is Freight Factoring? [/h2]
[p]Freight factoring is the process of selling accounts receivable (freight invoices) for a discounted price so owner operators don’t have to wait over a month to get paid. It's a finance solution that allows your trucking company access to immediate funds without having to deal with banks, collateral or interest charges. It's the best way to streamline your cash flow.[/p]
[p] When you choose to factor your freight invoices, your credit score does not matter, nor does the size of your business. Freight factoring is based on your client and <a href="https://truckerpath.com/blog/recourse-vs-non-recourse-factoring/">non-recourse freight factoring</a> with <strong>InstaPay</strong> means you don't have to worry about collecting from your clients either. To put it simply - send your docs and get paid immediately![/p]
[p] Overhead costs can pile up and put your trucking company at risk. Diesel fuel prices aren't going down significantly anytime soon and if you have used trucks in your fleet, repairs can cut into any potential profit as well with costs upwards of $.15 cents per mile according to the American Transportation Research Institution. [/p]
[p] If you want to know more about freight factoring in greater detail, check out our breakdown of the <a href="https://truckerpath.com/blog/advantages-of-freight-factoring/">advantages of freight factoring. </a> [/p]
[video id=h3kXwM59BgM]
[h2] Freight Factoring Step-by-Step Guide with InstaPay [/h2]
[p]1. Finish hauling your load [/p]
[p]2. Take a picture of your Bill of Lading and Rate Confirmation and email them to InstaPay, right from your phone[/p]
[p]3. Wait for a response with the<a href="https://truckerpath.com/blog/factoring-agreement/"> factoring agreement</a> from InstaPay [/p]
[p]4. Agree to the terms (no minimum commitments or <a href="https://truckerpath.com/blog/hidden-costs-to-factor/">hidden fees</a>) [/p]
[p]5. Sign-up (if you haven't already) and provide information for bank deposit [/p]
[p]6. Get paid within a day and let InstaPay handle collections [/p]
[p]<strong>It's that easy!</strong> You (and your fleet of drivers) work hard and make tremendous sacrifices to ensure freight is delivered in a timely manner. Without your dedication, America couldn't function the way it does now. It's why you shouldn't have to wait to get paid.[/p]
[p]Try freight factoring with Trucker Path InstaPay and expand your business, hauling more freight. [/p]
[button text="Sign Up For InstaPay" href="https://www.getinstapay.com" width="250px"]
Trucker Path App Update Version 4.1.2: Satellite Views, Improved search, and Major Bug Fixes <h2></h2>
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Good morning Trucker Path users!
We’re excited to rollout the latest version 4.1.2 of Trucker Path in the App Stores (<a href="http://bit.ly/truckerpathdroid">Play Store</a> and <a href="http://bit.ly/truckerpathios">Apple</a>). We’ve added new features requested by our users and fixed longstanding bugs.
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<strong>1. Added Satellite Views</strong>
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Tapping into the detailed page of a Place will show a satellite screenshot of that location. This way, you can get a better sense of the parking and layout.
<a href="https://truckerpath.com/uploads/2020/06/s1.jpeg"><img src="https://truckerpath.com/uploads/2020/06/s1-300x300.jpeg" alt="" width="300" height="300" class="alignleft size-medium wp-image-5057" /></a>
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<strong>2. Improved Places Search Capability</strong>
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The search bar will now support searching for the business’ name, as well as their address.
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<a href="https://truckerpath.com/uploads/2020/06/s2.jpeg"><img src="https://truckerpath.com/uploads/2020/06/s2-300x300.jpeg" alt="" width="300" height="300" class="alignleft size-medium wp-image-5058" /></a>
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<strong>3. Bug Fixes</strong>
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A few users reported the mile distance from location isn’t displaying correctly. Rest assured this is now completely fixed.
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<a href="https://truckerpath.com/uploads/2020/06/s3.jpeg"><img src="https://truckerpath.com/uploads/2020/06/s3-300x300.jpeg" alt="" width="300" height="300" class="alignleft size-medium wp-image-5059" /></a>
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Some users are also reported seeing “no internet connection” despite being connected to the internet. This is a known bug where we’ve implemented some solutions in this patch. Fingers crossed it will be resolved for those affected.
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<a href="https://truckerpath.com/uploads/2020/06/s4.jpeg"><img src="https://truckerpath.com/uploads/2020/06/s4-300x300.jpeg" alt="" width="300" height="300" class="alignleft size-medium wp-image-5060" /></a>
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Hope you guys enjoy these. More feature updates in the pipeline for the next release cycle! If you have any suggestions please let our team know at community@truckerpath.com, we're actively looking for user suggestions!
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<h4>By The Trucker Path Team</h4>
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Industry Update - October 29, 2019 <h4>By Paul DeCoste</h4>
<h3><strong>Did you know?</strong></h3>
The classic trucking movie, Black Top was released twenty years ago this month.
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Starring Meat Loaf, this trucking thriller was released October 20, 2000.
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<h3><strong>Trucking Tip of the Week:</strong></h3>
With summer being long behind us now, watch out for dangerous, icy road conditions in the northern US. In North Dakota, they are experiencing winds <a href="https://www.weather.gov/unr/WinterStorm-170124">that range from 15 to 25 mph</a> with gusts that are getting up to 40 mph. Temperatures are getting into the negatives and are expected to fall below -10 by tonight.
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<h3><strong>Industry Update:</strong></h3>
More than 3600 Mack workers on strike. For the first time in 35 years, Mack employees have walked out of their jobs and are protesting. The bulk of the protests are centered around the company failing to renegotiate contract terms with the union. Terms that include wage increases, job security, holiday/vacation, workplace health/safety, healthcare, and retirement options.
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<a href="https://www.thedrive.com/news/30402/nearly-3600-uaw-affiliated-mack-truck-workers-strike-against-low-wages-benefits">The last Mack strike happened in 1984</a>, when roughly 9,200 workers walked off the job while contract negotiations took place.
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<h3><strong>Laws and Regulation:</strong></h3>
Michigan State Police officers are <a href="https://www.metrotimes.com/news-hits/archives/2019/10/01/michigan-state-police-to-begin-roadside-drug-testing-program-that-includes-mouth-swabs-for-oral-screenings">now allowed to administer roadside saliva tests for drivers</a>. These tests are made to detect the presence of amphetamines, benzodiazepines, cannabis, cocaine, methamphetamines, and opiates. More specifically, the cannabis portion of the test is only looking for delta 9 THC, the well-known and psychoactive ingredient in cannabis.
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<h3><strong>Hours of Service Update:</strong></h3>
<a href="https://www.fmcsa.dot.gov/newsroom/federal-motor-carrier-safety-administration-publishes-hours-service-proposal-improve-safety">Did you submit your comments to the FMSCSA</a> about the new ELD regulations? To date, they have received over 7,000 comments on the proposed changes. Although the due date was October 21<sup>st</sup>, you can get more information on submissions here: <a href="https://www.federalregister.gov/documents/2019/08/22/2019-17810/hours-of-service-of-drivers">https://www.federalregister.gov/documents/2019/08/22/2019-17810/hours-of-service-of-drivers</a>.
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