Petal Sorocaniuc went from repair shop employee to trucking company owner, and found her roots in trucking. In this article, we’ll cover our client K&P Logistics and how OTR Solutions has helped her business grow.
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Benefits of Factoring Services, for K&P Logistics
“In the beginning, you have to have to have factoring.” is what Petal exclaims.. She completely understands the value of utilizing a freight factoring company. Many new trucking companies are taking massive risks with their finances. What if a client doesn’t pay? Those first several months are critical to long-term success,factoring ensures that trucking companies have the level of security they need.
1. Reduced Startup Risk with Cash Flow Protection
Having a freight factoring company from the start was important for Petal. She went all in with her trucking company by using the knowledge she had acquired from her previous experience working with a repair shop that turned into a broker/trucking company. Her initial steps required her to have protection against everything from non-paying clients to extremely late-paying clients. OTR Solutions’ non recourse freight factoring was an obvious choice for Petal as she was given the freedom to truck without worry of receiving payment.
2. Instant Team = Instant Scale
Having a team at your disposal is powerful but can be costly. OTR Solutions freight factoring solution not only ensures cash flow protection but also gives you free access to your own dedicated back office support team. Having a dedicated team for things such as broker and shipper approvals, and accounts receivable can be a valuable asset for any business, let alone brand-new trucking companies.
By having a dedicated team at K&P Logistics’ disposal, Petal was beginning to see and experience the benefits of freight factoring services firsthand. She was finally able to focus solely on trucking, having the support she needed every step of the way and ensuring complete freedom and a great time.
3. Freight Factoring with OTR Solutions Includes Dedicated Partnerships with Unique Advantages
For Petal, the startup costs for owning her own trucking company were very pricey. She knew she needed a partner to help her not only with cash flow protection but also other variables. Things like insurance, as one example, which in the world of trucking is highly expensive.
By partnering with OTR Solutions, K&P Logistics was able to partner with MIG Insurance Group to obtain lower rates and better coverage all around.
Petal and many others who partner with OTR Solutions get instant, exclusive access to leading partnerships such as DAT. Other partnerships include an easier ability to gain loans for new equipment through Freedom Leasing.
4. Low Fees for Easy Scale
For Petal as she had said in her testimony, many new trucking companies can’t afford to wait 30 days to be paid and to pair with this, many new trucking companies cannot afford the fees that are typically associated with freight factoring.
With OTR Solutions, Petal knew she would have an easier time with fees and be able to take advantage of the wide range of benefits that come with an OTR Solutions partnership.
Widely known as the best freight factoring company for the transportation industry, OTR Solutions has extremely low fees such as a $1 ACH fee and does not charge outrageous rates for things such as scanning, doc fees, etc.
OTR Solutions Transformed K&P Logistics with Ease
Petal loves her job and loves owning a trucking company. By using OTR Solutions as her non recourse freight factoring company, she was able to quickly turn K&P Logistics into a full-time successful company with many truckers working under her. OTR Solutions embraces new trucking companies and continuously challenges them to be the best that they can be with the tools they have. OTR Solutions ensured success for K&P Logistics by having their back no matter the time and no matter the situation.
OTR Solutions helped Petal create something wonderful and inspiring.
Additional Solutions at OTR Solutions
OTR Solutions has many additional solutions that Petal can take advantage of as needed. These solutions offer amazing benefits for both new and established trucking companies.
1. Trucker Fuel Card
The best fuel card for truckers is the OTR Fuel Card. This fuel card not only gives discounts on fuel, but also offers discounted lodging expenses. The OTR Fuel Card is a prepaid fuel card that is accepted at thousands of truck stops around the United States. The best part of the OTR Fuel Card is that any client of OTR Solutions has instant access to it without waiting for an application decision.
ELEVATE is an online branding solution for new authorities and new trucking companies. ELEVATE offers new trucking companies an easy way to get an online presence established with instant access to a website and branded email address. ELEVATE is perfect for businesses, like K&P Logistics, who are starting from scratch without an online presence. However, K&P Logistics had this covered prior to partnering with OTR Solutions.
3. Lumper Advance
Lumper Advances are a quick and easy way to pay lumper fees. Lumper fees can come out of nowhere and quickly add up and at any time.OTR Solutions can simply advance these fees so you don’t have to pay out of pocket or pay for another unexpected expense. This is just one of many ways OTR Solutions works to protect your cash flow.
4. Client Portal
The OTR Solutions Client Portal gives partners access to everything they need to improve their cash flow, such as access to factored invoices (both current and previous) as well as the ability to submit new invoices from anywhere they have internet access and a computer.
5. Mobile App
Imagine the free ability to factor invoices from anywhere in the world from the convenience of a smartphone! The OTR Mobile App allows truckers to do just that. Factor your invoices from anywhere in the world from your phone and focus on what matters most instead of spending time on phone calls or faxing over invoices.
Ready to Grow Your Trucking Company? Factor with OTR Solutions!
Petals story is inspiring and we absolutely love the ability to help her succeed each and every day. If you’re ready to take the first steps toward financial freedom, reach out to OTR Solutions, the best freight factoring company, and discover how we can help protect your cash flow while scaling your business to all-new heights.
Thanks for reading, have a fantastic day!