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Hot Shot Factoring - max truckers

Hot Shot Factoring is the process in which an owner-operator or a trucking company sells ...

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Hot Shot Factoring - max truckers

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  1. 12/11/23, 12:48 PM Hot Shot Factoring - max truckers  Hot Shot Factoring From Veri?ed Top Factoring Companies, in 02 minutes! Get the RIGHT Factoring Program That Is BEST For Hot Shot Owner Operators… From Veri?ed Top Hot Shot Factoring Companies, in 02 minutes! 0:00 / 1:28 Talk to A Factoring Expert Compare, Choose and Apply from the Top Hot Shot Factoring Programs Hot Shot Factoring is the process in which an owner-operator or a trucking company sells an outstanding truck freight bill to a factoring company for a cash advance.  https://www.maxtruckers.com/hot-shot-factoring/ 1/12

  2. 12/11/23, 12:48 PM Hot Shot Factoring - max truckers Save Money Up to $1597 Free Trucking Biz Tools Scroll down to see the price 30000+ Happy Owner Operators For bigger trucks, Click here for details Hot Shot Factoring for bigger trucks, Click here for details. A new owner-operator should save every penny that is possible. Get multiple truck factoring proposals from top factors with MaxTruckers offer for bigger trucks, Click here for details  GET QUOTES > https://www.maxtruckers.com/hot-shot-factoring/ 2/12

  3. 12/11/23, 12:48 PM Hot Shot Factoring - max truckers Highlights of Our Hot Shot Factoring Proposal Multiple Hotshot Truck Factoring Proposals  From Top-Rated Truck Hotshot Factoring Companies  100% Veri?ed Companies  5 Star Rated Factors  Multiple Hotshot Factoring Proposals  Starting from 1% to 3.5%  Fuel Line of Credit, scroll down to see the price  Recourse & Non-Recourse Truck Factoring  Hot Shot Factoring Advantages with MaxTruckers Impartial, fair, and FREE consultation  Proposals designed as per your business nature  Multiple factoring proposals  100% Pre-veri?ed, handpicked & trustworthy factoring companies ONLY  Dedicated MaxTruckers buddy for factoring consultation  Regular quality check of the factor  GET QUOTES > FREE Start-Up Kit  https://www.maxtruckers.com/hot-shot-factoring/ 3/12

  4. 12/11/23, 12:48 PM Hot Shot Factoring - max truckers FREE TCS Fuel Card that Saves Per Gallon  30 Days FREE DAT Load Board, the largest marketplace for freight loads and trucks, over 600,000 loads/day  FREE List of 300 Brokers, VERIFIED brokers who work with new owner-operators.  MaxTruckers Referral Program – Refer a friend for factoring, earn $150 per referral. Earn $1000+ extra income per month.  FREE Knowledge Resources – Get access to MaxTruckers knowledge resources that can help you to GROW your business FAST.  GET QUOTES What is hotshot factoring? Hotshot Truck Factoring in Trucking to Get Paid Fast If you are a hotshot truck owner, after plying truckload you need to get paid. Typically, brokers and shippers take 30 days to 60 days to pay you. But, you have to meet your day-to-day expenses like fuel, maintenance, etc. This makes Hotshot truck owner operators suffer from serious cash ?ow problems as your payments are delayed for a long period. Here Hotshot factoring comes as a rescue. Hotshot factoring is the process of submitting a trucking invoice to the factoring company after plying a quality load and getting paid from the factor in the same day. The factoring company levies a small fee against this process. Factoring is a very fast process, no original BOL/invoice is asked for. As a trucker, you can upload your invoice copy through a web portal, you can also snap photos of the invoice and upload them using the mobile app or you can attach the invoice in email and send it to the hotshot truck factoring company. And within hours you get paid. Get Hotshot Factoring How does hotshot factoring ease trucking business cash ?ow issues?  Hotshot factoring, liquidity, and cash ?ow solution Many drivers/owners will be affected by cash crunch or working capital shortage if there is no factoring. After pulling a load for brokers/shippers a carrier usually has to wait for the payment cycle to complete to get paid i.e. they have to wait 30/45/60/90 days to expire after generating the invoice to get paid.   https://www.maxtruckers.com/hot-shot-factoring/ 4/12

  5. 12/11/23, 12:48 PM Hot Shot Factoring - max truckers This creates a working capital shortage, truckers need working capital to pay for fuel, equipment maintenance, upkeep, driver salaries, accommodation, supplies, insurance premiums, etc. The solution for the working capital shortage is that a hotshot operator can submit their trucking invoice to get paid after the factor deducts the cut/commission which would be 1.5% to 5%, which is dependent on volume and size invoices submitted. A hotshot factoring company also helps hotshot truckers and owner operators to do carrier side works and secretarial paperwork. How do you select a hotshot factoring for your business? Selecting a hotshot factor for your trucking business: To select a hotshot factoring company you need to keep in mind certain factors: Firstly as a hotshot operator, you need to know what are the prevalent factoring rates. The factoring rates are normally between 1.5% to 5%, the rate depends on the size and volume of invoices factored. Secondly, as hotshot operators, you need to know, if there is any lockin period such as 3/6/12 months, this must be mentioned in their factoring contract. You should go for a month-on- month factoring contract. Thirdly you need to know if there is a termination fee for an early exit from the contract. Usually, it’s a hefty sum of money, which would burn holes in the trucker’s pocket.  Fourthly you need to know if there is any minimum factoring volume, your factor should not dictate how much you can factor? Which invoices you should factor? Or should you factor full or partially etc? You need to read the contract ?ne print to know if there is a minimum factoring volume. Fifthly you need to have a robust. Responsive, helpful, and problem-solving customer service. As many truckers/owners go for long-term contracts with their factor, the factoring company should provide a dedicated support staff to cater to and answer the queries, doubts, and issues of their customers.  Sixthly, you need to see if there are any hidden charges like credit check fees, you need to read the ?ne print and ask doubts to your factoring executive to know more about hidden fees. Seventhly, You need to know if there are any reserves that the factor cuts from the invoice amount, this reduces the factoring amount you get from your factor. Lastly, you need to also know what are the extra bene?ts that the factoring company provides you like fuel line of credit, fuel card, load board, insurance, bookkeeping support, load board, etc. You should not choose a hotshot factoring only based only on the extra bene?ts but should thoroughly consider what extras are on the table. MaxTruckers gives Free factoring consultation to Hotshot truckers. You get multiple hotshot factoring proposals from the top hotshot factoring companies. What is the cost of hotshot factoring?   Hotshot truck factoring fees https://www.maxtruckers.com/hot-shot-factoring/ 5/12

  6. 12/11/23, 12:48 PM Hot Shot Factoring - max truckers Factoring commission or cut is deducted before paying drivers/owners the factored invoice amount. This cut/commission is about 1.5% to 5%, depending on the hotshot factoring company you choose, volume, and size of the invoice factored.  There is also a reserve associated with factoring with some hotshot factoring companies. Some factors deduct it from your invoice amount and it’s paid back after the client/broker/shipper pays you the invoice amount. MaxTruckers helps hotshot owner operators to choose the best hotshot factoring, apply for a free hotshot factoring consultation now. What are recourse and nonrecourse hotshot factoring? Choose the right hotshot truck factoring program Recourse factoring is a kind of factoring where you are responsible for your clients/brokers/shippers invoice payment. If you take recourse factoring as the factoring option, then if your customer doesn’t pay your account will be debited by the factoring company. Recourse means less risk for factors, so they take it easy on credit checks and due diligence. As a hotshot owner, you can use this factoring method if you have credit-worthy shippers/brokers. In non-recourse factoring, the factor covers the shipper/broker default of the invoice. Here, the factor takes responsibility for invoice payment. If your customer default because of bankruptcy or insolvency or if there is an instance of default from your customers you are 100% risk-free. It is the responsibility of the hotshot factoring company to solve the issue. Nonrecourse is costly compared to recourse. This is because the hotshot factoring company is taking the risk of your client’s payment default. Is hotshot factoring worth it? Do Hotshot Truckers Really Need Hotshot Factroing Factoring creates working capital or liquidity in a trucking business, making it essential for a successful trucking operation. If there is no factoring the hotshot operator will face a cash crunch which is bad for any trucking operation because there are expenses, fuel, maintenance, driver salaries, accommodation, food, supplies, etc, that a hotshot operation should pay for.  Alternative to factoring is working capital loan and Quick pay. The former is very costly considering the interest and it takes a long time and the process is cumbersome. Quick pay is a good option but not all brokers provide it and you might have to work with multiple brokers. Plus, with quick pay the interest rate is high and you get paid in 7 days.  https://www.maxtruckers.com/hot-shot-factoring/ 6/12

  7. 12/11/23, 12:48 PM Hot Shot Factoring - max truckers What are the merits and demerits of a good hotshot factoring contract? Know more on hotshot factoring: Merits of hotshot truck factoring Easy way to inject liquidity into your business  Trucking startup-friendly  Low invoice/ bill commissions or factor cuts  It’s a short and long term liquidity option Demerits of hotshot factoring Invoices must be paid in 90 days Should have quality and highly creditworthy customers to start factoring Control of accounts receivable is lost Taking credit based on accounts receivables in hand is not possible Get Hotshot Factoring Bene?ts of joining MaxTruckers hotshot factoring How MaxTruckers helps you in selecting a hotshot factoring program? Free Factoring Consultation Giving You Factoring Proposals of Best Hotshot Factoring Companies As a hotshot trucker, your operations and requirements are very different from other truckers. Max Truckers gives you proposals that ?t hotshot factoring from the industry top rated factoring companies for potshots after your hotshot factoring consultation. You get 2 to 3 hotshot factoring proposals from veri?ed hotshot factoring companies  Fuel card for Hotshots https://www.maxtruckers.com/hot-shot-factoring/ 7/12

  8. 12/11/23, 12:48 PM Hot Shot Factoring - max truckers MaxTruckers gives you a very useful TCS fuel card that provides a discount on a gallon of diesel. TCS fuel card gives freedom. Flexibility and saving. This card is accepted at 1000 odd truck stops and fueling stations, The card gives a discount for repair and maintenance, roadside assistance, tire, and oil change discount, driver accommodation and supplies discounts, etc. Flexible Load Requirments Hotshot Programs Max Truckers provide you with ?exible load-hauling, there is no minimum load value that you must meet. This means you can factor in whichever load you like. Positive Hotshot Contract Terms At MaxTruckers don’t add harsh clauses or conditions in our contract that surprise and trouble you. We do not surprise you with hidden fees, termination fees or volume limits, etc. Our contracts are conducive for young trucking startups and small trucking businesses. Fast Paperwork At Maxtruckers, we don’t ask for original invoices/BOL. You can upload or snap photos of your invoice via a web portal or mobile app, or even send an email with a document attached to sort factoring paperwork.  Best Customer Support At MaxTruckers we provide dedicated, supportive, and problem-solving customer support. Our dedicated MaxTruckers buddy will help you onboard with a factor and help you to do preliminary tasks associated with factoring. We offer 24/7 support. Access to MaxTruckers University At MaxTruckers we provide a trucking knowledge portal that helps you to learn more about the trucking ecosystem and the elements in it. we share knowledge about trucking-related aspects like: How to start a trucking operation? What is the government certi?cation you need? How to save trucking cost a lot using smart tools like fuel card, coupons etc? How to ?nd brokers/shippers who work with new MC owner operators?  Which load boards should you use? How to ?nd a good dispatch company? How do you ?nd loads to run? How do you ?nd comprehensive insurance coverage? What are your bookkeeping requirements? DAT Load board Subscription At MaxTruckers we add value to owner-operators/truckers by providing 1 month free trial of the DAT TruckersEdge load board. A trucker can easily book loads using the load board and see if it ?ts his need or priorities.  300 Member Broker List for New Hotshot MC owners  At MaxTruckers we know how hard is it for a new MC owner/trucker to get work. Brokers/shippers don’t appreciate working with new MC drivers/owner operators. https://www.maxtruckers.com/hot-shot-factoring/ 8/12

  9. 12/11/23, 12:48 PM Hot Shot Factoring - max truckers That’s why MaxTrucler has compiled a list of 300 brokers who are ok working with new owners/drivers. Trucking Startup Friendly As a trucking startup, you have to face heavy competition, unfriendly brokers/shippers, and harsh working conditions. At max truckers, we know the challenges face by new owners/truckers, so we provide you 3- dimensional services such as trucking business consultation, business development service, insurance, factoring consultation, load dispatching, load board package, and knowledge resource connected with trucking.  MaxTrukcers provide you with tools, operational acumen and contacts to prosper in all facets of trucking. Get Hotshot Factoring Previous Semi Truck Factoring Company Next   Flatbed Insurance  Product Pricing https://www.maxtruckers.com/hot-shot-factoring/ 9/12

  10. 12/11/23, 12:48 PM Hot Shot Factoring - max truckers Dispatch 1. Dispatch ; Loads Just @ $49/Week/Truck + 5% of the previous week’s gross revenue Fuel Card 1. TCS: 42 cents per gallon for Q3 of 2023 2. RoadEX Fuel Credit Card; up to $6000 / per week LoadBoard $45 Per Month (Get 10% off on your ?rst 12 months) DAT TruckersEdge provides carriers access to the trusted DAT ® Network, North America’s largest marketplace for freight loads and trucks, with over 900,000 loads posted daily. With TruckersEdge, you get unlimited searching and posting, instant alarm match noti?cation, broker credit scores and days to pay, market rates, mileage routing, and much more. Avail your Offer Now $180 Per Month (Get 10% off on your ?rst 12 months) $145 Per Month (Get 10% off on your ?rst 12 months) Rated Top 5 Dispatchers In USA  https://www.maxtruckers.com/hot-shot-factoring/ 10/12

  11. 12/11/23, 12:48 PM Hot Shot Factoring - max truckers James Birdine II Nataya Martinez Jami Johnson Saieh Ghavami Rick D                               Nick was a I Signed Up With Big thanks to Been working with My exper wonderful agent MT. Nick made.. Ruby S Jenny for awhile max truck Nick was a wonderful agent, very professional and informative. He has a lot of patience and was very helpful. Read more>> Great company to work with. Nick was a big help helping me get everything started. All applications were easy and self explanatory. Big thanks to Ruby S. What an awesome person to have representing Max Truckers! Ruby was not pushy at even after spending ample time explaining my different options. Read more>> Been working with Jenny for awhile, always reliable and I am looking forward to doing more business! My experie max trucke Excellent f ?nish. Mrs my opinion best helpe received fr active asso company. more>>  Date of experience: May 22, 2023 Date of experience: September 15, 2023 Date of experience: June 21, 2023 Date of experience: April 20, 2022 Date of ex June 22, 2 Testimonials   Email address Subscribe to our Newsletter General Queries: ruby@maxtruckers.com Service Queries: +1 (909) 296 – 6688  https://www.maxtruckers.com/hot-shot-factoring/ 11/12

  12. 12/11/23, 12:48 PM Hot Shot Factoring - max truckers REGISTERED ADDRESS 8 The Green, STE A, Dover, Kent, Delaware City, DE, United States, 19901 WORKING HOURS Monday – Friday (09:00 AM – 06:00 PM EST) Saturday & Sunday – Closed QUICK LINKS Dispatch Service | Fuel Card | Load Board | About US | Contact Us        © Copyright 2023 Max Truckers Pvt Ltd. All Rights Reserved.  https://www.maxtruckers.com/hot-shot-factoring/ 12/12

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