How Switching Factoring Companies Can Make All the Difference
John Smith Trucking LLC struggled with time-consuming manual invoicing and cash flow issues. The trucking company’s first factoring partner added to the frustration with limited availability, confusing processes, and poor customer service. That’s when the owner-operator came across altLINE’s current freight factoring operations manager, Jennifer Fink.
I used to get home at midnight on Fridays and stay up until 6 a.m. doing invoicing, getting everything ready to send in to my debtors so I could get paid. Now, I don’t have to do anything. All of that work I used to do is gone. I haul the load, it takes me three minutes to forward the rate con and BOL to altLINE, [and] then I’m done. The time and the money factoring saves me is amazing.
John Smith, CEO
John Smith Trucking LLC
John Smith Trucking LLC
The Company
Industry: Trucking
Location: Albany, Missouri
Founded: 1993
John Smith Trucking LLC, based in Albany, Mo., is owned and operated by experienced industry professional John Smith. With 38 years of experience in the trucking industry, Smith began his career as a driver before becoming a carrier and establishing his LLC in 1993.
After many years owning a small fleet of five trucks, he has since scaled back to owning and operating a single truck.
The Solution
Smith began looking elsewhere for help improving his cash flow and managing receivables. He knew how helpful freight factoring was on paper, but he needed a better provider who would simplify the process.
That’s when he came across Jennifer Fink, altLINE’s current freight factoring operations manager. Since working with Fink, Smith’s attitude toward factoring has completely shifted. Customer service is now at the forefront, invoicing is taken care of, and his cash flow has improved.
“My experience with Jennifer has been wonderful. She strives for perfection every day,” Smith said. “If I have a problem, I call Jennifer. She’ll go above and beyond to figure it out because she genuinely wants to help. That’s what makes it so much easier with [altLINE]. If I have a problem, it’ll get fixed. Period.”
The Outcome:
- Dedicated Support: altLINE took full ownership of Smith's time-consuming invoicing responsibilities.
- Quicker Access to Cash: Within months, Smith saw a notable improvement in cash flow. Even if customers took long to pay, it didn't affect his business.
- Trustworthy Funding Partner: Smith began working with Jennifer Fink, freight factoring operations manager at altLINE. She offered improved customer service and clear communication.
Smith points to Fink’s transparency, availability, and consistency as her best qualities.
“Jennifer is always available. Freight factoring, honestly, is a 50/50 game because it depends on which company you work with. I’ve worked with other people at other freight factoring companies who don’t actually care and are never available. But Jennifer is always available. And her attitude stays the same, which is great, because that means I know what to expect.”
The Challenge
For Smith, the most frustrating part of owning a trucking business was the tedious accounting process, particularly invoicing debtors at the end of each week. He used to get home on Friday evenings and spend the night invoicing debtors rather than winding down from his hard work, an exhausting habit.
Smith also struggled with cash flow due to lengthy payment terms and dragged-out debtor payments. This working capital problem hit him hard in an industry that’s known for its slim profit margins.
Smith noted that there were limited alternative lending options when he first explored financing 20 years ago. Factoring invoices was a new concept at that time, so identifying a funding partner was a challenge.
The Issues:
- Time-Consuming Accounting Tasks: Smith was losing sleep—literally—because of late nights spent invoicing debtors.
- Slow-Paying Customers: Long payment terms resulted in cash flow issues, making it really difficult for Smith to make a profit.
- Frustration With Lender: His initial factoring provider had poor customer service. The factoring process was getting increasingly lengthy and confusing.
He eventually found a factoring company to work with, but customer service became an issue.
“The company I was with kept evolving and growing, but while they were doing that, they never realized how all their evolving hurt their customers,” Smith said. “The process kept getting more difficult, and when I voiced my concerns, it [went] in one ear [and] out the other. At that time, factoring with them was really challenging.”
The Results
LESS accounting responsibilities
Smith spends far less time on manual accounting tasks since factoring his invoices. As a result, he has more time to focus on growing his business and making a profit..
boost in
efficiency
After 38 years in the industry, Smith has scaled back from owning five trucks to a single truck. The cash flow boost provided by altLINE allows him to do this without stressing about whether he has enough capital to operate.
reliable
partnership
Smith views altLINE as an extension of his business because of our transparency and frequent availability. He has complete trust in altLINE freight factoring operations manager, Jennifer Fink, to look out for his business’s best interest.
Why Choose altLINE
Smith offers this advice to his industry peers: Don’t waste hours on invoicing when factoring companies can handle it for you. Instead, use that time to focus on tasks that will help you grow your business.
- Ease of Use: Simple, straightforward processes.
- Transparent Fees: No hidden costs or surprises.
- Proven Reliability: A partner that supports growth and stability.
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