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11-14-2015, 04:31 PM #20
- Join Date
- Sep 2015
- Location
- Miami, FL
- Posts
- 189
Why do lenders hate trucking companies?
I honestly prefer to arrange factoring for trucking companies, given most factors who fund transportation deals understand the industry pretty well and are more transactional and get involved in the day to day operations of these companies (verifying invoices, checking credits on brokers, etc)
Another risk is the type of loads these companies haul. One example is refrigerated, which carries a higher risk, due to temperature requirements, GPS, etc. LTL loads also carry another risk as the carrier hauls smaller loads for several companies.
At the moment due to lower gas prices, the industry is somewhat challenging as the price of loads has significantly gone down and there seems to be higher competition and lower margins on each load.
Happy to arrange a conference call with anyone who would like to learn more about the industry and how we work with the industry.
Hope this helps.
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