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6 Ways Trucking Businesses Can Survive COVID-19

Alma Bailey 0 Comments

Canada’s stimulus packages for small trucking businesses and private sector assistance is urgently needed to support the transportation industry during the pandemic. We've created a trucker's survival guide to help trucking companies navigate these difficult times.

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Press Release: Accutrac Capital Parent Acquires Bibby North America

Bruce Sayer 0 Comments

Accutrac Capital Solutions Inc. is pleased to announce the acquisition of Bibby Financial Services (Holdings) Inc. (Bibby NAM) by our parent company, Global Merchant Fund Corp. Bibby NAM is the North American operation of Bibby Financial Services (BFS), a U.K.-based independent SME funder with operations in 14 countries.
 

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How Fuel Cards for Trucking Positively Impact Your Bottom-line

Accutrac Capital 0 Comments

Discount Fuel Cards for Trucking Industry that provides significant discounts on the cost of fuel. Fuel discounts directly effect operating costs of a trucking company and has a significant positive impact to your bottom-line. Learn strategies to save on fuel costs.

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Everything You Need to Know about Bank Covenants

Alma Bailey 0 Comments

The transportation industry has been hit with low volumes, low rates and poor cash flow. Financial consultants, business advisors and CFOs of trucking companies are all challenged beyond the norm to maintain the financial stability of the company they represent. Approaching a bank for an operating line of credit is usually the first consideration, but before you sign a loan agreement, be sure to understand everything you need to know about financial debt covenants on typical trucking business loan agreements.

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How to Protect Your Trucking Client from Restrictive Bank Covenants

Alma Bailey 0 Comments

Those serving the trucking industry are facing abnormally difficult conditions to keep their clients and employers financially stable. Following almost two years of high freight volumes, 2019 was a year of extreme contraction with over capacity, low volumes and volatile rates. These are the times when trucking companies start tripping business loan covenants with the bank and losing their funding.

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The Truth to How Trucking Companies Make Good Money

Alma Bailey 0 Comments

There is only one way for trucking companies to make money; by driving loaded miles for a paying customer and charging additional fees when appropriate. Any other activity will cost the company money. The real question to be answered is; how do trucking companies make good money?

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How to Grow a Successful Trucking Company

Alma Bailey 0 Comments

The greatest opportunities for trucking companies to grow are rooted in a downturn within the industry. As competition increases, unprofitable operations are weeded out causing capacity to exit the market. For trucking companies that survive, opportunity for growth becomes abundant as volume begins to return and more trucks are needed to fill the gap.

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How to Prevent a Cash Crisis

Alma Bailey 0 Comments

As freight volumes continue to defy the norm, it is important for trucking company owners to "be prepared for anything". In an unpredictable market, cash flow is particularly subject to wild fluctuations. Every transportation business has them; times when incoming cash can't keep up with the demands of outgoing cash. Having a back-up plan for these challenging periods can prevent a cash flow low from turning into a cash flow crisis.

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How to Easily Calculate Your Trucking Company's Profit Margins

Alma Bailey 0 Comments

Demand for freight transportation is down one period and up the next, the one thing that doesn’t change; margins remain slim. How is it possible to keep making profits in this unpredictable environment? Learn how to monitor and manage your trucking profit margins.

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How to Calculate Working Capital for Your Trucking Company

Alma Bailey 0 Comments

Sometimes referred to as operating capital, working capital is the life blood of your company. Working capital pays the bills and sustains your trucking operations. Knowing how to calculate net working capital and being financially prepared is essential to the success of your trucking business operations.

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Factoring Line of Credit vs Business Line of Credit

Alma Bailey 0 Comments

You have a thriving business, a fleet of trucks and a pool of drivers that produce good revenues and yet your cash reserves are always low. How do you keep operations moving when fuel expenses, driver salaries, maintenance costs and so many other expenses keep draining available working capital?

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5 Tips to Accounts Receivable Management for Trucking

Accutrac Capital 0 Comments

Accounts Receivable Management is a critical task that needs to be performed regularly and professionally in order to fully manage your trucking companys cash flow. The speed with which your company converts its invoices into cash can have a tremendous impact on the overall health and profitability of your trucking business.

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