Our Blog

Trucking salaries expected to rise to help with driver shortages

Posted by Genie Wood on Sat, Oct 18, 2014 @ 01:19 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

ATRI Releases 10th Annual Survey of Trucking Industry Concerns

Posted by Genie Wood on Tue, Aug 19, 2014 @ 09:55 AM

The American Transportation Research Institute has issued its 10th annual survey of some of the greatest concerns in the trucking industry. This survey is released every year and trucking industry stakeholders are asked to rank some of the greatest areas of concerns within the industry. 

According to Philip Byrd Sr., chairman of American Trucking Associations, it is important to take these concerns into account now in order to address them and prepare for the future health of the industry. The American Trucking Associations commissioned the survey, and it is available to complete online by clicking here. The results of the survey will be announced at the American Trucking Associations' Management Conference and Exhibition in San Diego on October 4-7. 

Of all the difficulties facing drivers and trucking company owners, late payment, or non-payment, from clients is certainly one of the most challenging. Fortunately, the team of freight factoring specialists at TBS Factoring Service are here to provide you with the financial support you need to stay in operation. Learn more about our full range of services by calling us today at (800) 207-7661. 

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

Trucking Industry Revenue Projected to Increase

Posted by Genie Wood on Wed, Jul 23, 2014 @ 11:01 AM

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 @ 03:52 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

New Regulations on DOT Physicals Go into Effect

Posted by Genie Wood on Thu, May 22, 2014 @ 01:44 PM

The Federal Motor Carrier Safety Administration (FMCSA) is pushing ahead with new regulations requiring truckers to undergo their USDOT physicals with a health professional who is listed on the National Registry of Certified Medical Examiners. At the expiration of a trucker’s current medical certificate, therefore, it will be necessary to ensure that the practitioner performing the physical meets this requirement in order for it to be considered valid.

Organizations such as the American Trucking Association (ATA) and other groups had requested a six-month delay before the regulations take effect, citing concerns that there may not be an adequate supply of physicians who meet these new guidelines in order to allow truckers throughout the country, particularly in rural areas, to continue doing their jobs. Nevertheless, the FMCSA has decided not to delay the requirements.

At TBS Factoring Service, our focus is always on helping independent trucking operators adapt to the challenges they face on the road. To learn more about the services we offer and what we can do for you, contact us today by calling 800-207-7661.

Tags: New Regulations on DOT Physicals Go into Effect, TBS Factoring Service, trucking regulations, trucking news

Mid-America Trucking Show Starts this Week

Posted by Genie Wood on Tue, Mar 25, 2014 @ 03:52 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

Third Quarter Sees Decrease in Cargo Theft

Posted by Genie Wood on Thu, Dec 12, 2013 @ 07:50 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

HOS Restriction Presents Trucking Industry with Challenges

Posted by Genie Wood on Mon, Nov 18, 2013 @ 02:23 PM

In July of 2013, the Federal Motor Carrier Safety Administration (FMCSA), a division of the U.S. Department of Transportation, amended the Hours of Service (HOS) allowed for trucking employees. The new HOS requirement prohibits a driver from being on the road for over eleven hours in a fourteen hour workday, making the maximum time a trucker can work in a workweek 70 hours.

Compared to 2012, when the HOS limit was 82 hours per workweek, the possible Hours of Service have decreased by 12 hours. The trucking industry has long since suffered from a labor shortage, so when the new stringent work limit was announced, many people in the trucking industry projected that productivity would suffer.

The FMCSA stands by the newly imposed rules, claiming that the changes will help reduce the likelihood of fatigue-related trucking accidents. Ray Lahood, secretary of the U.S. Department of Transportation, mentioned that they made these rules with safety in mind, not profits.

Unfortunately, HOS regulations are only one component that contributes to the overall financial standing of truckers and trucking companies. If you are having trouble making ends meet because you have clients who have failed to pay their invoices on time, freight factoring can offer you the relief you need. Contact TBS Factoring Service today at 800-207-7661 to learn more about how we can help. 

Tags: TBS Factoring Service, trucking regulations, Hours of Service, freight factoring, HOS

TBS Factoring to Support Veterans through Scholarship

Posted by Genie Wood on Mon, Oct 14, 2013 @ 10:37 AM

TBS Factoring Service recently announced that it will be awarding a $10,000 scholarship for trade school through the St. Christopher Truckers Development & Relief Fund to veterans of the U.S. military. 

Application submission for interested veterans began on October 1st and applications will continue to be accepted until November 15. The winner of the scholarship will be announced sometime in early December. The winner will be able to use the scholarship at the trade school of his or her choice, and will be awarded on the basis of financial need as well as a demonstrated interest in pursuing or advancing a career in the motor-carrier industry. Interested individuals can apply online at www.truckersfund.org or by contacting the St. Christopher Truckers Development & Relief Fund at 865-202-9428 or contact@truckersfund.org.

Wood Kaufman, the founder and CEO of TBS Factoring Service stated, “We are extremely proud of those who have given so much to protect our country. It’s our honor and privilege to now help give them, through this grant, an opportunity to make a difference as civilians here at home. Trucking presents great career opportunities and serves an important role in America’s economy.”

Tags: TBS Factoring Service, veterans scholarship, St. Christopher Truckers Development & Relief Fund, Trucking Industry

TBS Factoring Service, LLC, passes $1 billion milestone

Posted by Genie Wood on Thu, Sep 26, 2013 @ 01:09 PM

After opening in 2004, TBS Factoring Service, LLC, recently passed a major milestone – surpassing $1 billion worth of freight-factored invoices.

This is a considerable marker for TBS, which provides cash to independent truckers and small trucking companies by buying their invoices at a marked-down price. This immediate cash flow can help these smaller businesses from facing detrimental financial problems and grow their businesses, especially when parties that owe them money fail to provide payment.

According to Wood Kaufman, TBS founder and CEO, “We are proud of this important milestone because it reflects our continued commitment to American small businesses. Our success is built on friendly, personal service and a customer base that knows it can count on us. In fact, our clients give us a 98 percent satisfaction rating, and that shows in our own results.”

TBS works to help small and independent truckers stay afloat and increase their business by providing a variety of financial solutions, from buying invoices to selling discount fuel cards. Find out more about our services and how we can help your trucking company financially, call 800-207-7661.

Tags: TBS Factoring Service, company news, trucking factoring