Truck freight volumes rose 10.5% in December, the highest yr./yr. growth in 13 years, according to the American Trucking Associations’ tonnage index. In the small-to-medium-sized carrier sector, such spikes create a serious strain on working capital, as most expenses are paid in cash while loads are billed on credit.
Many carriers use factoring to provide the increased working capital necessary to ride these growth surges. Riviera Finance offers the full package of finance, credit services and receivables management to allow the carrier to focus on hauling loads and growing the business.
According to the ATA, all indicators were favorable for the trucking industry in December and are likely to continue through February. Low inventories coupled with a strengthening economy and higher manufacturing outputs all contributed to the healthy numbers. See the ATA website here for more information about the December growth in freight volumes.