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Congress may Lower the Interstate Age Limit for Truck Drivers

Posted by Genie Wood on Fri, Jul 24, 2015 @ 11:49 AM

A bill was just recently introduced into Congress this past week that could allow drivers as young as age 18 to drive commercial trucks across state lines. If the bill passes, it would require that contiguous states join together and form “compacts” to lower the current age limit to 18 for interstate routes. However, there is no limit to the number of states that can join compacts, so potentially the entire US could have its age limit lowered.

This change is in response to the recent shortage of drivers for the freight industry. Previously, 18-year-old drivers were allowed to drive within states, but a driver had to be 21 or older to be able to cross state lines. This limited the industry in its ability to transport cargo between states, but lowering the age limit would allow for more recruits. However, the bill would place certain restrictions on young drivers, such as preventing them from transporting hazardous material or driving oversized or overweight loads.

TBS Factoring Service has been helping trucking companies remain profitable and successful for decades. With the trucking industry undergoing such drastic changes, it is important to keep other aspects of business in line.  With our bookkeeping, insurance offerings, and freight factoring services, we can help independent trucking companies and drivers keep their finances straight in a changing industry. Call us at (800) 207-7661 today for more information.

Tags: TBS Factoring Service, Trucking Laws, Trucking Jobs, Trucking Industry

Trucking companies seek ways to keep employees, including raising pay

Posted by Genie Wood on Tue, Jun 30, 2015 @ 11:51 AM

As it becomes increasingly difficult to keep truck drivers, companies have begun to raise the pay for drivers by the mile. The trucking industry has experienced a large shortage in drivers recently, and is looking to secure their current drivers by making this move. However, many in the trucking business are asking for more. Some insist on raising the maximum speed for a truck driver as well as offering a guaranteed hourly wage, rather than offering payment by the mile.

With all these changes, large trucking company Transport America says they are “invested in their drivers' careers as much as they are.” This is why companies, like Transport America, across the nation continue to raise trucker salaries. However, the exact "best" way to increase truckers' pay is still under debate. 

While increased wages can help many truck drivers, some still struggle to make ends meet. Fortunately, freight factoring services can help indpendent truckers and trucking companies alike with cash flow problems stemming from unpaid invoices. The team at TBS Factoring Service has over 50 years of experience and is well-equipped to help your trucking business grow. Call us today at (800) 207-7661 to learn more about how we can help grow your business. 

Tags: TBS Factoring Service, freight factoring, Trucking Industry, Trucker wages

Transportation's Net Gains Despite Subdivision Losses

Posted by Genie Wood on Thu, Apr 16, 2015 @ 08:17 AM

While the transportation industry saw an increase in employment numbers over the past year, subdivisions of the industry experienced notable job losses.

This past March, the transportation industry added a total of 9,500 jobs. This gain is half of February's, which saw the most trucking jobs added in the past year. Furthermore, certain sectors of the industry, including “support activities for transportation” and “transit and ground passenger transportation,” had employment gains of 8,400 and 3,500 jobs, respectively. 

However, despite these positive gains, sectors like “trucking transportation” and “scenic and sightseeing transportation” experienced job losses. The trucking transportation subdivision lost 6,800 employees this March, while scenic and sight seeing transportation lost 500. For trucking transportation, this is the largest loss in two years. 

Regardless of the job prospects in the trucking industry at any given time, freight factoring services are always an option for trucking companies that want financial assurance. If you are looking to secure immediate payment for your outstanding invoices, assistance from TBS Factoring Services is sure to help. For more information, call us at (800) 207-7661 today.

Tags: TBS Factoring Service, freight factoring, Trucking Jobs, Trucking Industry

Diesel Costs Cause Problems for Trucking Industry

Posted by Genie Wood on Mon, Nov 24, 2014 @ 11:39 AM

Many Americans are rejoicing at the lowered fuel costs as of late, with some places in Oklahoma City hitting as low as $2.24. However, though regular fuel costs have plummeted lately, costs for diesel remain high. In Oklahoma, diesel costs as much as $3.89 per gallon. Prices for diesel fuel fluctuate based on a number of different factors including: global crude oil prices, federal and local taxes, the costs of delivering fuel to customers, and the weather.

As the polar vortex descends upon the United States early this year, the colder weather is one of the major causes of diesel expenses. When the weather is particularly harsh, drivers must keep their trucks running throughout the night to keep warm. The weather can also slow truck drivers down considerably on the road. All of these factors combine to make fuel costs even more of a burden for drivers and trucking companies. 

While fuel costs may slow some companies down in the coming months, the experienced team at TBS Factoring Service is dedicated to ensuring that truck drivers and companies have access to the cash flow they need, when they need it. If you have customers that will not pay their invoices, we can assist you in getting back on track financially. Call (800) 207-7661 today to speak with one of our team members about what we can do for you. 

Tags: Fuel Costs, TBS Factoring Service, freight factoring, Trucking Industry, Diesel

Trucking salaries expected to rise to help with driver shortages

Posted by Genie Wood on Sat, Oct 18, 2014 @ 02:19 PM

The trucking industry has been experiencing a shortage of drivers for several months now, and unless something changes, this shortage is likely to only increase. As such, many trucking companies have announced that they will be offering wage increases to both new and experienced drivers in an attempt to attract new drivers to the job, and to try and retain the drivers that they already have.

In fact, according to the president of the Americas Commercial Transportation Research Co., Kenny Vieth, driver wages could increase as much as 6% in order to help close the gap between the number of existing drivers and what seems to be a never-ending increase for driver demand. 

Much of the increase in shipping needs in recent months has come as a result of the United State's recent energy boom, particularly in natural gas. Many regions in the U.S., such as the Eagle Ford Shale region of Texas, are experiencing unprecedented amounts of energy production, all of which necessitates specialized heavy hauling services. 

Truck driver shortages is only one of many challenges facing trucking companies and independent drivers in the U.S. For many, while business may be booming, financial constraints can still be significant if and when customers fail to make timely payments on their invoices. If you’re experiencing difficulties making ends meet because of late or non-payments, the experienced freight factoring experts at TBS Factoring Service are here to help. Call us today at (800) 207-7661 to find out what we can do for you.  

Tags: TBS Factoring Service, freight factoring, Trucking Industry

Trucking Industry Revenue Projected to Increase

Posted by Genie Wood on Wed, Jul 23, 2014 @ 12:01 PM

Overdrive Online recently reported that in the next ten years the trucking industry’s revenue will increase as the amount of freight moved also increases. This information was gathered in a U.S. Freight Transportation Forecast conducted by the American Trucking Association (ATA). The ATA is a national advocacy group that aims to keep the trucking industry profitable, innovative, and environmentally sustainable.

From 2015 to 2025, the forecast predicts that freight tonnage will increase nationally by nearly a quarter at 23.5%, which will easily increase the demand for drivers, freight carriers, and other service providers necessary to the success of the trucking industry. Additionally, as the amount of goods hauled increases, the profitability of freight trucking is projected to increase by nearly 72%.

Amid a stream of technological innovations and the trucking industry’s continued growth, TBS Factoring Service is dedicated to helping drivers and trucking companies find solutions to their cash flow concerns. If you are interested in learning more about what our factoring service can do for you, give us a call at (800)207-7661 today.  

Tags: growth, TBS Factoring Service, Trucking Industry

Demand for Truck Drivers High

Posted by Genie Wood on Mon, Jun 23, 2014 @ 04:52 PM

Across the United States, the demand for qualified truck drivers is quite high, with some officials saying that the industry overall is in need of as many as 30,000 drivers. However, some in the Texas transportation industry are saying that the same number of drivers is needed in Texas alone. 

The need for such a high number of drivers in the Lone Star State is largely due to the incredible amount of energy production taking place in the state's Eagle Ford Shale. In fact, demand for trucking has increased significantly nationwide because of an increase in energy production. 

At TBS Factoring Service, we know that understaffing is just one of the many problems facing trucking company owners, and we are dedicated to providing support to trucking companies and independent truckers in a variety of ways. To learn more about how we can help through our freight factoring services, contact us today at (800) 207-7661. 

Tags: TBS Factoring Service, jobs, Trucking Industry

Mid-America Trucking Show Starts this Week

Posted by Genie Wood on Tue, Mar 25, 2014 @ 04:52 PM

This year's Mid-America Trucking Show, taking place in Louisville, KY, kicks off this week on March 27th. This 2-day event is the largest of its kind, and is an incredible opportunity for trucking professionals to meet face to face with a variety of vendors and other influential figures and companies in the trucking industry. 

This year's show features a mix of events, including everything from seminars to musical performances to the event's signature expo, and draws trucking professionals from around the country who are looking to learn about new regulations, products, and opportunities to improve their business. 

One of the greatest concerns facing individuals and companies in the trucking industry is the issue of making ends meet financially, especially when dealing with clients who fail to pay their invoices. Fortunately, freight factoring can play an important role in helping truckers secure the finances they need, regardless of a client's willingness or ability to pay on time. To learn more, contact the experienced professionals at TBS Factoring Service today at (800) 207-7661. 

Tags: TBS Factoring Service, freight factoring, Trucking Industry, Mid-America Trucking Show

Trucking Industry Leads the Shift to Natural Gas Engines

Posted by Genie Wood on Thu, Feb 13, 2014 @ 08:34 AM

The abundance of shale fields in the United States has prompted companies to practice hydraulic fracturing as a means to extract and use natural gas. The price of natural gas is cheaper than diesel fuel, which has made natural gas an affordable fuel source for trucking companies. The Energy Information Administration projects that the trucking industry's usage of natural gas will grow at a rate of 11.9% annually for the next 30 years.

Power Solutions International and General Motors have teamed up to provide natural gas engines for trucking companies. The natural gas engines help freight and trucking companies save money while emitting less carbon into the atmosphere.

Despite the growing demand for natural gas in the trucking industry, general car-makers have not yet negotiated a way to use and sell natural gas engines to non-commercial drivers.

The popularization of natural gas within the trucking industry will continue to save companies money, and TBS Factoring Service provides trucking companies with additional financial assistance when needed. To learn more about the services that we provide, contact us at (800) 207-7661. 

Tags: Trucking Industry Leads the Shift to Natural Gas E, Trucking Industry, TBS Factoring

Third Quarter Sees Decrease in Cargo Theft

Posted by Genie Wood on Thu, Dec 12, 2013 @ 08:50 AM

In the third quarter of this year there was a notable decrease in cargo theft when compared to previous years. According to the Supply Chain Information and Analysis Center, there were only 195 reported instances of cargo theft in the third quarter of 2013, compared to 285 from the third quarter of 2012. 

This time period usually sees the greatest amount of theft during the year, as thieves target trucks carrying goods to be sold during the holiday season. Experts speculate that the drop in theft could be the result of a heightened awareness among truckers of the dangers of cargo theft, resulting in increased precautions. 

Unfortunately, theft is not the only financial difficulty that truckers may face in the course of their work. Far too many truckers and trucking companies struggle to make ends meet becasue of clients who fail to make timely payments on their invoices. If you are facing cash flow problems and you need the money you are owed as soon as possible, the freight factoring experts at TBS Factoring Service are here to help. Call us today at 800-207-7661 and learn more about how we can help you and your business. 

Tags: TBS Factoring Service, cargo theft, trucking factoring, Trucking Industry