Advantages of Fuel Advances
Fuel Advances can be a useful tool for the trucking company that may be getting started or gaining rapid growth. You certainly don’t want to pick up a load only to find yourself digging under your seat to scrape together as much fuel money as possible just to deliver. You can typically find fuel advance options from your broker you hauled the load from or your factoring company to create a real value when funds are low and you need to get on the road.
How Will Fuel Advances Help?
Since fuel usually accounts for about 35 – 40% of your trucking operating expenses it is important to ensure you aren’t looking at picking up a load with an empty tank and no cash on hand.
- Save time by not spending time searching for quick-pay loads
- Transport more cargo without worrying about the payment from the previous loads
- Improve cash flow creating more confident decision making
How Fuel Advances Work with Steelhead Finance
- Pick up the load and send appropriate documents (rate confirmation and BOL) to Factoring Company
- Factoring Company confirms pickup of the load
- Funds are deposited to your account (up to 50% of the load amount)
No more bumming fuel money from friends (or mom)! Get your funds quicker and stay on the road to focus on what you do best!
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