New to Factoring?

For those who aren't familiar with factoring, it is basically a fast way to get cash to run your business.

Factoring is Not a Loan

When you send your customers an invoice, they usually have 30 days to pay you back. Factoring companies will give you the bulk of the cash up front, sometimes within 24 hours, and collect the payments from your customers themselves. Once the invoices are paid in full, you’ll get the balance left over, minus a small fee.


Factoring Doesn't Require Debt

Sounds simple enough – fast cash for your business – no loans, no debt.

So how do you go about choosing the best factoring company?

Not all of them are created equal. Not all of them will give you the same level of service you need to help grow your business.

Everyone claims they have the simplest rate structure in the industry, no long-term contracts, same day funding, no up-front fees, no monthly minimums or maximums, fuel partnership programs for truckers, instant credit checks, etc., etc., etc.

We also offer these same benefits, but we GO THE EXTRA MILE FOR YOU that other factoring companies don’t.

Here’s Why We Are The Factoring Company You Need For Your Business

No other factoring company matches our level of superior service and offerings.


As you can see, we simply have more to offer you.

Other factoring companies don’t even compare.
El Paso

And Not All Factoring Companies Can Say This:

More than half of our new business comes through client referrals.

So, Can Your Company Use Factoring?

Of Course! Companies of all sizes, from small privately-owned companies to large multi-national corporations, use factoring as a way to increase their cash flow. Factoring spans all industries, including trucking, transportation, manufacturing and distribution, textiles, oil and gas, staffing agencies and more.

Companies use the cash generated from factoring to pay for inventory, buy new equipment, add employees, expand operations—basically any expenses related to their business. Factoring allows a company to make quicker decisions and expand at a faster pace.

Unlike a bank loan, factoring has…

  • No principle or interest to pay over time
  • No debt to repay
  • Unlimited funding potential – no caps
  • Fast funding – no waiting months like at a bank
  • Approval is based on the strength of your clients, not your credit
  • Startups are welcome in using funding services

Some of the benefits you receive with factoring are:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Information for the city of El Paso

El Paso has a diversified economy focused primarily within international trade, military, government civil service, oil and gas, health care, tourism and service sectors. The El Paso metro area had a GDP of $29 billion in 2011. There were also $92 billion worth of trade in 2012. Over the past 15 years the city has become a significant location for American based call centers. Cotton, fruit, vegetables, and livestock are also produced in the area. El Paso has added a significant manufacturing sector with items and goods produced that include petroleum, metals, medical devices, plastics, machinery, defense related goods and automotive parts. The city is the second busiest international crossing point in the U.S behind San Diego. El Paso is home to one Fortune 500 company in Refining, which is listed on the New York Stock Exchange. This makes the city one of six Texas metro areas to have at least one Fortune 500 company call it home; the others being Houston, Dallas Fort Worth, San Antonio, Austin and Corpus Christi. The city has three other publicly traded companies in , a NASDAQ listed company that manufactures personal health care products under many labels, such as among others.

 

The third publicly traded company is listed on the New York Stock Exchange, a public utility engaging in the generation, transmission, and distribution of electricity in west Texas and southern New Mexico. The fourth publicly traded company is also traded in the . It is a subsidiary which owns, operates, develops, and acquires terminals, storage tanks, pipelines, and other logistics assets.Largest Employers in El Paso, Inc. More than 70 Fortune 500 companies have offices in El Paso, Hispanic Business Magazine included 28 El Paso companies in its recently released list of the 500 largest Hispanic owned businesses in the United States.

 

El Paso's 28 companies are second only to Miami's 57. The list of largest Hispanic owned businesses include companies like .The city also has a large military presence with Fort Bliss, William Beaumont Army Medical Center and Biggs Army Airfield. The defense industry in El Paso employs over 37,000 and provides a $6 billion annual impact to the city's economy. Fort Bliss was chosen as the newly configured U.S. Air Force Security Forces Regional Training Center which will bring 8,000 to 10,000 Air Force personnel annually. An M1 Abrams tank crew on Fort Bliss' Do�a Ana RangeIn addition to the military, the federal government has a strong presence in El Paso to manage its status and unique issues as an important border region. Operations headquartered in El Paso include the DEA domestic field division 7, El Paso Intelligence Center, Joint Task Force North, U.S. Border Patrol El Paso Sector and U.S. Border Patrol Special Operations Group (SOG).Call center operations make up seven of the top 10 business employers in El Paso. With no signs of growth slowing in this industry, in 2005, the 14 largest call centers in El Paso employed more than 10,000 people.

 

More recently, has opened a business solutions center in West El Paso, employing about 1,100 people with expansion plans to reach 1,700 by 2017.Tourism is another major industry in El Paso, bringing in $1.5 billion a year and over 2.3 million visitors annually due to the city's sunny weather, natural beauty, rich cultural history and many outdoor attractions.Education is also a driving force in El Paso's economy. El Paso's three large school districts are among the largest employers in the area, employing more than 20,000 people among them. UTEP has an annual budget of nearly $418 million and employs nearly 4,800 people. A 2010 study by the university's Institute for Policy and Economic Development stated the University's impact on local businesses is $417 million annually

 

 

Information for the state of Texas

"Mineral resources compete with industry for primary economic importance in Texas. The state is the leading U.S. producer of oil, natural gas, and natural-gas liquids, despite recent production declines. It is also a major producer of helium, salt, sulfur, sodium sulfate, clays, gypsum, cement, and talc. Texas manufactures an enormous variety of products, including chemicals and chemical products, petroleum, food and food products, transportation equipment, machinery, and primary and fabricated metals. The development and manufacture of electronic equipment, such as computers, has in recent decades become one of the state's leading industries; the area around Dallas and Fort Worth has become known as ""Silicon Prairie,"" a name now also extended to Austin and its suburbs.

 

Agriculturally, Texas is one of the most important states in the country. It easily leads the nation in producing cattle, cotton, and cottonseed. Texas also has more farms, farmland, sheep, and lambs than any other state. Principal crops are cotton lint, grains, sorghum, vegetables, citrus and other fruits, and rice; the greatest farm income is derived from cattle, cotton, dairy products, and greenhouse products. Hogs, wool, and mohair are also significant. Among other important Texas crops are melons, wheat, pecans, oats, and celery. Texas also has an important commercial fishing industry. Principal catches are shrimp, oysters, and menhaden"

 

NO DEBT - JUST CASH  

The finance company concerned is called a 'Factor' and the transaction is known as �Trucking Factoring -Freight Brokerage Factoring

 

 

LEARN EXACTLY HOW TO FACTOR  

Freight Brokerage Factoring Articles

Factoring Companies - Benefits

 

Factoring companies offer a wide variety of benefits to businesses. Factoring companies conduct financial business by allowing a business to sell its invoices to a factor (also known as a third party business or individual.) The price that the business charges is discounted in order to sell the invoices that are currently held, and make the cash that is immediately needed for any type of expenditures involving the business. A business that has immediate cash needs, but has no cash to pay for the expenditures that has occurred often ends up going under and eventually shutting down completely. This takes a lot of jobs away from people, and can leave you working for someone else, no longer running for your business. No one wants to take this large step down from the current place that they are in. A business owner has worked incredibly hard to get to where he or she currently is, and does not deserve to have their business become obsolete. This is where the factoring companies can be a huge help to businesses.

 

Invoice FactoringKeep in mind that factoring companies do not use the same process as invoice discounting. Instead, invoice factoring (also called the “Assignment of Accounts Receivable” by the FASB and GAAP) is the sale of invoices, instead of invoice discounting which involves collateral in order to ensure that the individual who took out the invoice discounting loan will pay it back. Factoring is not a loan; instead, factoring is the sale of invoices in order to get immediate cash. There is no loan in the process of factoring, and you will never have to pay the money back.

 

Since the invoices that are sold are also called receivables, the entire process of factoring is usually called the sale of receivables. Receivable factoring is much better than trying to take a loan out from the bank. Banks charge interest on any type of loan, and although there is usually collateral, it can put you in even more debt than you currently are. In addition, factoring companies are never going to give you a loan. When a factoring company funds your discounted receivable, he or she will choose to buy the receivable, giving you cash immediately. This cash can pull your entire business out of the hole that it is currently in. Instead of taking a loan out and getting yourself further into debt, factoring allows you to simply sell your own invoices and get back most of the money that you originally put into them. Although this may seem like a bad process since you are selling valuable invoices, it is important to do, as the invoices are completely useless if your entire business goes under. Instead of trying to take a loan out to keep all of your receivables (invoices) factoring companies benefit you directly by giving you the cash you need.

 

Benefits of Factoring Companies / Invoice Factoring / Receivable FactoringWhen you are in a bind and really need money in order to get through the next few months, it can be very troublesome. Although the first thought in most peoples’ minds would be to visit the nearest bank as soon as possible and take out some kind of loan, this is very dangerous. Although the loan may hold your business over for the next few months, it is simply delaying the same money crunch you already had. Unless your business is making an incredible amount of money, the bank loan that you took out has increased in the price that you must pay bank. Interest on a bank loan is how the banks make money and survive. Many loans have a very high interest rate, and if you are unable to pay the loan back in a short amount of time, you are going to be in more of a money crunch than you originally were in. In order to pay back the loan, you would have to make a large amount of money in a very short time, which is unlikely if you needed to take out the loan in the first place.

 

Rather than bothering with bank loans that will inevitably put you back in the money hole that you were in when you took it out, factoring companies are available to help you. A factoring company is a place where businesses can place their invoices for sale at a discounted price, which will allow them to receive immediate cash. As aforementioned, this money does not need to be paid back, as it is not a loan. Keep in mind, you are not selling your business. You are selling invoices in order to keep your business growing. You will be able to get more invoices in the future when your business is back up and running, but if you do not sell these invoices, you will never be back up and running.

 

When you are in a money crunch, don’t put yourself back in the money hole that you are in by taking out a bank loan. Utilize factoring companies in order to get immediate cash that will help you get back up and running without putting a loan on your business.

 

 

 

NO DEBT - JUST CASH

 

 

Freight Brokerage Factoring Articles

Healthcare Staffing Factoring

 

The healthcare field is arguably one of the most rapidly growing industries in the United States. With the baby boomers, the largest section of our population, reaching retirement age the need for expanding healthcare services has never been more pronounced.

 

At the center of this growth are healthcare staffing agencies that hire for hospitals, clinics, doctor’s offices and a wide range of medical facilities. However, while business is booming the ability for these staffing agencies to expand is inhibited by the customer invoice system. Fortunately, there are healthcare staffing factoring companies around to help them in their time of need.

 

We asked the owner of a local healthcare staffing agency, Joy Reed, to talk to us about how factoring companies helped expand her business and provide a much needed boost at a critical time for her company.

 

“Hello Joy and welcome. I was hoping you would tell us a little about how healthcare staffing factoring companies helped your business, but I suppose we should begin by how you got started in this business?”

 

Joy Reed (JR), “Thanks for having me. I actually have been a part of several start-up businesses in my recent career and was looking for a field that would show a lot of promise. It was pretty clear to me that medical staffing was a big need in the healthcare field so I set about to start my own business. I had experience in starting up businesses before, so I drew up a business plan, took out a loan, rented the offices and hired a staff to get started.”

 

“So, you did what most people do in starting up a business. How did it do?”JR: “I actually got off to a pretty good start. I had made a few contacts and managed to get some business right away. This was really helpful because as you might know our clients use invoices for payments and it can take up to 90 days before we actually get the cash in hand. Around four months in we were facing a real crossroads as new opportunities opened up for our business, but we didn’t have the cash on hand to take advantage.”

 

“I’m a little confused. You say you were doing well, but you didn’t have the ability to expand your business?”

 

JR: “That’s right. The problem was back to the invoices that were making up wait up to 3 months before we had the cash. I really wanted to expand my staffing business to handle the new opportunities I was being presented, but I couldn’t because I was still waiting on the invoices to finally turn to cash. So I was asking my accountant about what could be done when the suggestion of a healthcare staffing factoring company was introduced.”

 

“Tell us a bit more about factoring companies.”

 

JR: “Basically, factoring companies purchase the invoices right on the spot so you can have cash on hand immediately instead of waiting up to three months. For healthcare staffing factoring companies, they will then collect the money from the business when the invoice is read to be fully paid. It really worked out for me because I was able to get cash quickly to add new personnel and even expand my offices to include another section of the building I was renting in.”

 

“I understand that factoring companies are there for many different kinds of businesses, including medical staffing. Was it difficult to get set up with a factoring company?”

 

JR: Actually, it was pretty easy once we found a company that met our needs. I just filled out a short form and they looked over a few of the invoices I had to see what companies that I worked with. It really didn’t take long at all before they agreed to cash some of the invoices and I got the money I needed to expand.”

 

“Could you tell me a little more about the advantages of using a factoring company like this?”

 

JR: “Sure, I was not only able to hire a couple of new people and rent additional space, I’ve been able to cash my invoices when unexpected bills come up or if I need to make a purchase quickly for a new piece of equipment. This has come in really handy recently when I decided to move to a new location and needed some cash on hand to make the transition. The factoring services are really quite good with reasonable rates and fast service.”

 

“What’s the differences in using factoring companies over getting a new loan?”

 

JR: “It is frankly much better than getting a loan because with factoring there is nothing to pay back. We are basically getting our own money from the invoices we’ve earned up front and paying only a small fee. With a loan, I would not only have to pay it back but with interest as well. Factoring for us has really been a godsend when it comes to making decisions about how to expand my business. I’m no longer tied down to waiting 2 to 3 months to get paid when I can take what my business has earned and get cash immediately.”

 

“I take it that you are happy with how healthcare staffing factoring has worked out for you?”

 

JR: “You would be correct. I cannot imagine how my business would have expanded at that critical time without factoring companies to buy my invoices. This is a great service that has helped me in my time of need and now my medical staffing business is bigger than ever. I’d recommend factoring companies to anyone running a business that relies on invoices if they need to get cash quickly.”

 

There is little doubt that Joy Reed has been quite happy about the services she received working with a factoring company. Perhaps factoring is right for you and your needs, be sure to search for the type of factoring business that works in your field so that you can get the right services in helping your company to succeed.

 

 

 

 

Freight Brokerage Factoring Articles

Oilfield Services Factoring Services

 

Running a company in the oilfield services industry is no easy business, especially with payrolls to meet, equipment to purchase and deadlines that must be met. The sheer complexity of combining the geological research and modeling, imaging and exploration and finally the drilling to see whether oil is really present can take a lot of investment before any payoff can be seen.

 

For those who own a Frac Sand Hauler for example, the efforts that must be put in to start such as business can be considerable. But arguably the biggest challenge is paying the expenses as the invoices come in. A Frac Sand Hauler often has expenses that must be met immediately, but their invoices can take up to 60 days before they see the money.

 

What follows is an interview with Ray McClerand, a man who owns a Frac Sand Hauler business and ran into the same difficulties that many new companies of his type face. How Ray overcome some of the challenges in paying his bills through oil service factoring are explained in the interview.

 

“Welcome Ray, I’d like to know first why you decided to start up a Frac Sand Hauler company and how you prepared for the challenges it created.”

 

Ray McClerand (RM): “I’ve been in the oil business for the past 15 years or so working on different jobs from roughneck to foreman to deskwork for different companies. A few years ago I saw the potential of having a Frac Sand Hauler business in this area and got together with a couple of partners to create a company. We sat down, went over the details and decided that this would be a real good time to build a business that was serving a particular need in this industry.”

 

“So, I take it you created a business plan and took out the appropriate loans in order to purchase the equipment and hire the personnel necessary to get your company started?”

 

RM: “Exactly. Because I had been around this business for a while, I understood what was needed in terms of personnel and equipment. Plus, I had some contacts with others in the business that needed the type of services that a Frac Sand Hauler provides, so I felt that there was some real potential to make a profitable business work.”

 

“How did it go over the first six months or so?”

 

RM: “At first, we were really thriving as my contacts had lined up some business my way. Our loans covered the first six months or so of operations and we were doing quite well with the business we had. My partners and I were certainly happy and everything was going good when something really strange happened.”

 

“Could you elaborate on what you mean by “strange”?

 

RM: “Yes, after the first five months or so I started getting requests to have our company work with several other businesses in the area. This would mean having to expand our company through buying new equipment and hiring more people. But we did not have the cash on hand to make such a move. We were getting invoices from the businesses that we worked with, but it was taking up to 2 full months before we actually got the cash.”

 

“So, you were making enough money to expand, but you didn’t have it on hand because of the invoice system?”

 

RM: “You got it. Add to that our initial money from the loan was running out and we needed to start paying it back as well. I knew that if we didn’t expand and accept the new business that others would step in and we would lose that money. So, we were in a real pickle until I heard about oil service factoring companies.”

 

“Tell us a bit about oil service factoring and how it helped you out?”

 

RM: “Well, one of my partners had heard about factoring companies, so we checked it out and decided to go with one that was best suited for our needs. A factoring company buys our invoices with cash so we have money on hand to pay our bills and do what we need accomplished immediately. The factoring company then collects the money from the invoices when they become due. It’s really been a win-win for what we do.”

 

“That’s interesting. I wonder if you could you explain a little further just how factoring has helped your company?”

 

RM: “Sure, instead of having to wait up to 60 days before we could collect on the invoices, we were able to have the cash on hand immediately to purchase some new equipment and hire some more people to expand our business. This meant that we could accept the new offers that other businesses were providing for us and not having to pass. I cannot say enough about how factoring really benefitted us when it came to expanding our business.”

 

“So, it seems like factoring really paid off for you. Do you still use factoring today?”

 

RM: “Yes we do. Although for the most part we still cash our own invoices, whenever we need money quickly so we can buy some new equipment or expand our business a little further, we go back to the factoring company and cash in our upcoming invoices. It really has worked wonders for our company.”

 

“Tell me, what would have happened if factoring was not an option?”

 

RM: Frankly, I don’t know how we could be in the position we are today without factoring. In this business, you have to take advantage of new opportunities quickly because there are other companies out there who will step in if you don’t. Basically, I don’t think we would be anywhere near the company we are today if it had not been for factoring.

 

There is little doubt that Ray’s company would not be where it was without oil service factoring that allowed him to expand his company when he needed. For those in the oil industry, having your invoices cashed immediately by factoring companies allows greater flexibility so you can grow your business a lot more quickly and take advantage of opportunities.

 

 

 

You Can Find More Information at  http://myfreightfactoring.com/
and at Factoring at receivablesfactoringcompany.com

Call Us Today at: 1-888-266-0197

 

Watch our Factoring Company Video below to see how we work for you.

 

 


 

Get CASH NOW for your outstanding receivables.

 

 

Some history on the Freight Broker Industry

 

The Logistics and Transportation Industry in the United States

The logistics and transportation industry in the United States is highly competitive. By investing in this sector, multinational firms position themselves to better facilitate the flow of goods throughout the largest consumer market in the world.. International and domestic companies in this industry benefit from a highly skilled workforce and relatively low costs and regulatory burdens.

 

Shipping Port

 

Spending in the U.S. logistics and transportation industry totaled $1.33 trillion in 2012, and represented 8.5 percent of annual gross domestic product (GDP). Analysts expect industry investment to correlate with growth in the U.S. economy.

 

A highly integrated supply chain network in the United States links producers and consumers through multiple transportation modes, including air and express delivery services, freight rail, maritime transport, and truck transport. To serve customers efficiently, multinational and domestic firms provide tailored logistics and transportation solutions that ensure coordinated goods movement from origin to end user through each supply chain network segment. Industry Subsectors

 

Logistics services: This subsector includes inbound and outbound transportation management, fleet management, warehousing, materials handling, order fulfillment, logistics network design, inventory management, supply and demand planning, third-party logistics management, and other support services. Logistics services are involved at all levels in the planning and execution of the movement of goods.

 

Air and express delivery services (EDS): Firms offer expedited, time-sensitive, and end-to-end services for documents, small parcels, and high-value items. EDS firms also provide the export infrastructure for many exporters, particularly small and medium-sized businesses that cannot afford to operate their own supply chain.

 

Freight rail: High volumes of heavy cargo and products are transported long distances via the U.S. rail tracking network. Freight rail moves more than 70 percent of the coal, 58 percent of its raw metal ores, and more than 30 percent of its grain for the nation. This subsector accounted for approximately one third of all U.S. exports.

 

Maritime: This subsector includes carriers, seaports, terminals, and labor involved in the movement of cargo and passengers by water. Water transportation carries about 78 percent of U.S. exports by tonnage, via both foreign-flag and U.S.-flag carriers.

 

Trucking: Over-the-road transportation of cargo is provided by motor vehicles over short and medium distances. The American Trucking Associations reports that in 2012, trucks moved 9.4 billion tons of freight, or about 68.5 percent of all freight tonnage transported domestically. Motor carriers collected $642 billion in revenues, or about 81 percent of total revenue earned by all domestic transport modes.

 

Industry Associations:

 

American Association of Port Authorities
American Society of Transportation and Logistics
American Trucking Associations
Association of American Railroads
Council of Supply Chain Management Professionals
Express Delivery and Logistics Association
Industry Publications:

 

American Shipper
Journal of Commerce
Material Handling & Logistics
Transport Intelligence
Transport Topics

 

North American Industry Classification System For Transportation

 

The Transportation and Warehousing sector includes industries providing transportation of passengers and cargo, warehousing and storage for goods, scenic and sightseeing transportation, and support activities related to modes of transportation. Establishments in these industries use transportation equipment or transportation related facilities as a productive asset. The type of equipment depends on the mode of transportation. The modes of transportation are air, rail, water, road, and pipeline.

 

The Transportation and Warehousing sector distinguishes three basic types of activities: subsectors for each mode of transportation, a subsector for warehousing and storage, and a subsector for establishments providing support activities for transportation. In addition, there are subsectors for establishments that provide passenger transportation for scenic and sightseeing purposes, postal services, and courier services.

 

A separate subsector for support activities is established in the sector because, first, support activities for transportation are inherently multimodal, such as freight transportation arrangement, or have multimodal aspects. Secondly, there are production process similarities among the support activity industries.

 

One of the support activities identified in the support activity subsector is the routine repair and maintenance of transportation equipment (e.g., aircraft at an airport, railroad rolling stock at a railroad terminal, or ships at a harbor or port facility). Such establishments do not perform complete overhauling or rebuilding of transportation equipment (i.e., periodic restoration of transportation equipment to original design specifications) or transportation equipment conversion (i.e., major modification to systems). An establishment that primarily performs factory (or shipyard) overhauls, rebuilding, or conversions of aircraft, railroad rolling stock, or a ship is classified in Subsector 336, Transportation Equipment Manufacturing according to the type of equipment.

 

Many of the establishments in this sector often operate on networks, with physical facilities, labor forces, and equipment spread over an extensive geographic area.

 

Truck Transportation

 

Industries in the Truck Transportation subsector provide over-the-road transportation of cargo using motor vehicles, such as trucks and tractor trailers. The subsector is subdivided into general freight trucking and specialized freight trucking. This distinction reflects differences in equipment used, type of load carried, scheduling, terminal, and other networking services. General freight transportation establishments handle a wide variety of general commodities, generally palletized, and transported in a container or van trailer. Specialized freight transportation is the transportation of cargo that, because of size, weight, shape, or other inherent characteristics require specialized equipment for transportation.

 

Each of these industry groups is further subdivided based on distance traveled. Local trucking establishments primarily carry goods within a single metropolitan area and its adjacent nonurban areas. Long distance trucking establishments carry goods between metropolitan areas.

 

The Specialized Freight Trucking industry group includes a separate industry for Used Household and Office Goods Moving. The household and office goods movers are separated because of the substantial network of establishments that has developed to deal with local and long-distance moving and the associated storage. In this area, the same establishment provides both local and long-distance services, while other specialized freight establishments generally limit their services to either local or long-distance hauling.

 

General Freight Trucking

 

This industry group comprises establishments primarily engaged in providing general freight trucking. General freight establishments handle a wide variety of commodities, generally palletized, and transported in a container or van trailer. The establishments of this industry group provide a combination of the following network activities: local pickup, local sorting and terminal operations, line-haul, destination sorting and terminal operations, and local delivery.

 

General Freight Trucking, Local

 

This industry comprises establishments primarily engaged in providing local general freight trucking. General freight establishments handle a wide variety of commodities, generally palletized and transported in a container or van trailer. Local general freight trucking establishments usually provide trucking within a metropolitan area which may cross state lines. Generally the trips are same-day return.

 

General Freight Trucking, Long-Distance

 

This industry comprises establishments primarily engaged in providing long-distance general freight trucking. General freight establishments handle a wide variety of commodities, generally palletized and transported in a container or van trailer. Long-distance general freight trucking establishments usually provide trucking between metropolitan areas which may cross North American country borders. Included in this industry are establishments operating as truckload (TL) or less than truckload (LTL) carriers.

 

General Freight Trucking, Long-Distance, Truckload

 

This U.S. industry comprises establishments primarily engaged in providing long-distance general freight truckload (TL) trucking. These long-distance general freight truckload carrier establishments provide full truck movement of freight from origin to destination. The shipment of freight on a truck is characterized as a full single load not combined with other shipments.

 

General Freight Trucking, Long-Distance, Less Than Truckload

 

This U.S. industry comprises establishments primarily engaged in providing long-distance, general freight, less than truckload (LTL) trucking. LTL carriage is characterized as multiple shipments combined onto a single truck for multiple deliveries within a network. These establishments are generally characterized by the following network activities: local pickup, local sorting and terminal operations, line-haul, destination sorting and terminal operations, and local delivery.

 

Specialized Freight Trucking

 

This industry group comprises establishments primarily engaged in providing local or long-distance specialized freight trucking. The establishments of this industry are primarily engaged in the transportation of freight which, because of size, weight, shape, or other inherent characteristics, requires specialized equipment, such as flatbeds, tankers, or refrigerated trailers. This industry includes the transportation of used household, institutional, and commercial furniture and equipment.

 

Used Household and Office Goods Moving

 

This industry comprises establishments primarily engaged in providing local or long-distance trucking of used household, used institutional, or used commercial furniture and equipment. Incidental packing and storage activities are often provided by these establishments. Specialized Freight (except Used Goods) Trucking, Local

 

Specialized Freight (except Used Goods) Trucking, Long-Distance

 

This industry comprises establishments primarily engaged in providing long-distance specialized trucking. These establishments provide trucking between metropolitan areas that may cross North American country borders.

 

Freight Broker

 

A freight broker is an individual or company that serves as a liaison between another individual or company that needs shipping services and an authorized motor carrier. Though a freight broker plays an important role in the movement of cargo, the broker doesn't function as a shipper or a carrier. To operate as a freight broker, a business or individual must obtain a license from the Federal Motor Carrier Safety Administration (FMCSA). Freight brokers are required to carry surety bonds as well.

 

Freight broker services are valuable to both shippers and motor carriers. Freight brokers help shippers find reliable carriers that might otherwise be difficult to locate. They assist motor carriers in filling their trucks and earning money for transporting a wide variety of items. For their efforts, freight brokers earn commissions.

 

Freight brokers use their knowledge of the shipping industry and technological resources to help shippers and carriers accomplish their goals. Many companies find the services provided by freight brokers indispensable. In fact, some companies hire brokers to coordinate all of their shipping needs.

 

Often, freight brokers are confused with forwarders. Though a freight forwarder performs some of the same tasks as a freight broker, the two are not the same. A forwarder takes possession of the items being shipped, consolidates smaller shipments, and arranges for the transportation of the consolidated shipments. By contrast, a freight broker never takes possession of items being shipped thus in the absence of negligent entrustment, a freight broker is not normally involved as a party litigant in a cargo claim dispute, although as an accommodation, the freight broker may assist the shipper at their request and expense with filing freight claims.

 

NAICS Index Description

 

484110 Bulk mail truck transportation, contract, local
484110 Container trucking services, local
484110 General freight trucking, local
484110 Motor freight carrier, general, local
484110 Transfer (trucking) services, general freight, local
484110 Trucking, general freight, local
484121 Bulk mail truck transportation, contract, long-distance (TL)
484121 Container trucking services, long-distance (TL)
484121 General freight trucking, long-distance, truckload (TL)
484121 Motor freight carrier, general, long-distance, truckload (TL)
484121 Trucking, general freight, long-distance, truckload (TL)
484122 General freight trucking, long-distance, less-than-truckload (LTL)
484122 LTL (less-than-truckload) long-distance freight trucking
484122 Motor freight carrier, general, long-distance, less-than-truckload (LTL)
484122 Trucking, general freight, long-distance, less-than-truckload (LTL)
484210 Furniture moving, used
484210 Motor freight carrier, used household goods
484210 Trucking used household, office, or institutional furniture and equipment
484210 Used household and office goods moving
484210 Van lines, moving and storage services
484220 Agricultural products trucking, local
484220 Automobile carrier trucking, local
484220 Boat hauling, truck, local
484220 Bulk liquids trucking, local
484220 Coal hauling, truck, local
484220 Dry bulk trucking (except garbage collection, garbage hauling), local
484220 Dump trucking (e.g., gravel, sand, top soil)
484220 Farm products hauling, local
484220 Flatbed trucking, local
484220 Grain hauling, local
484220 Gravel hauling, local
484220 Livestock trucking, local
484220 Log hauling, local
484220 Milk hauling, local
484220 Mobile home towing services, local
484220 Refrigerated products trucking, local
484220 Rubbish hauling without collection or disposal, truck, local
484220 Sand hauling, local
484220 Tanker trucking (e.g., chemical, juice, milk, petroleum), local
484220 Top-soil hauling, local
484220 Tracked vehicle freight transportation, local
484220 Trucking, specialized freight (except used goods), local
484230 Automobile carrier trucking, long-distance
484230 Boat hauling, truck, long-distance
484230 Bulk liquids trucking, long-distance
484230 Dry bulk carrier, truck, long-distance
484230 Farm products trucking, long-distance
484230 Flatbed trucking, long-distance
484230 Forest products trucking, long-distance
484230 Grain hauling, long-distance
484230 Gravel hauling, long-distance
484230 Livestock trucking, long-distance
484230 Log hauling, long-distance
484230 Mobile home towing services, long-distance
484230 Radioactive waste hauling, long-distance
484230 Recyclable material hauling, long-distance
484230 Refrigerated products trucking, long-distance
484230 Refuse hauling, long-distance
484230 Rubbish hauling without collection or disposal, truck, long-distance
484230 Sand hauling, long-distance
484230 Tanker trucking (e.g., chemical, juice, milk, petroleum), long-distance
484230 Tracked vehicle freight transportation, long-distance
484230 Trash hauling, long-distance
484230 Trucking, specialized freight (except used goods), long-distance
484230 Waste hauling, hazardous, long-distance
484230 Waste hauling, nonhazardous, long-distance

 

Economic Impact of Trucking

 

The importance of trucking can summed up by an old industry addage: "If you bought it, a truck brought it." Retail stores, hospitals, gas stations, garbage disposal, construction sites, banks, and even a clean water supply depends entirely upon trucks to distribute vital cargo. Even before a product reaches store shelves, the raw materials and other stages of production materials that go into manufacturing any given product are moved by trucks.

 

Trucking is vitally important to U.S. industry, however, measuring the impact of trucking on the economy is more difficult, because trucking services are so intertwined with all sectors of the economy. According to the measurable share of the economy that trucking represents, the industry directly contributes about 5 percent to the gross domestic product annually. In addition, the industry plays a critical support role for other transportation modes and for other sectors of the economy such as the resource, manufacturing, construction, and wholesale and retail trade industries

Third Party Logistics-Freight Brokers 

Freight Brokers

 

Freight brokers are federally regulated and bonded companies. Most commonly they have a vast network and access to a library of freight carriers and search for the right availability based on customer specifications. These brokers also offer various value-added services that encompass transportation, logistics, and distribution. Typically, freight brokers do not touch the freight. They engage in helping shippers find the best price with the best carrier for any given load.

 

The proliferation of freight brokers called for an increase in financial integrity and liability of these companies, which has led to the passing of the Moving Ahead for Progress in the 21st Century Act. In order to obtain a license to broker freight, a freight brokerage must purchase a surety bond or trust agreement with the Federal Motor Carrier Safety Administration. Prior to June 2012 when the bill was signed by President Obama, the surety bond coverage required to hold a broker license was $10,000. Effective October 1, 2013, the surety bond requirement increased to $75,000.

 

Other logistics companies include 3rd-Party Logistics Providers. They offer a variety of supply chain and distribution-related practices and techniques in order to improve in-house logistics. The main difference between a traditional freight broker and most 3rd-Party Logistics Providers is that freight brokers do not actually touch the freight, whereas 3rd-Party Logistics providers often do.

 

 

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