Trucking news and briefs for Friday, Nov. 19, 2021:
Love’s adds more than 300 parking spaces with 3 new locations
New Love’s Travel Stops locations in Bellefontaine, Ohio; Milton, Florida; and Garden City, Georgia, will add more than 300 truck parking spaces to the company’s network.
The Ohio location offers 126 truck parking spaces, a Hardee’s restaurant (opening Dec. 6), eight diesel bays, eight showers and more.
The new Florida store offers 88 truck parking spaces, an Arby’s restaurant (opening Nov. 22), eight diesel bays, eight showers, a Speedco and more.
Finally, the new Georgia location features 97 truck parking spaces, a Hardee’s restaurant (opening Nov. 22), eight diesel bays, six showers and more.
Financing firm offering equipment financing for start-ups
1st Commercial Credit, a nationwide funding company that specializes in accounts receivable factoring and trade payable financing, has introduced an equipment financing program for various sized companies, credit score ranges, and industries.
The company has a new funding program for companies needing up to $75,000 in equipment finance for start-ups.
For start-ups less than three months old, a large demand exists for equipment financing, the company says. While it has been difficult for business owners with less than two years of operatiors to secure equipment financing, 1st Commercial Credit says it is optimistic in providing financial services to higher risk clients.
The company says more than 60% of clients that come to 1st Commercial Credit for funding have less than one year since start-up.
"Equipment finance has always been a great alternative financial instrument for acquiring equipment without using your bank line or cash savings,” says Raul Esqueda, President of 1st Commercial Credit. “Our primary equipment finance clients are capped out with their existing lenders, have challenged credit, or have financial stress due to growth in sales. We cover a very wide credit score range for approvals many vendors and dealerships would appreciate."
Alabama flatbedder institutes 90-day ‘Driver Shortage Surcharge’
In an effort to reward its drivers for weathering a tidal wave of holiday shipping demand, Birmingham, Alabama-based flatbedder Montgomery Transport is instituting a 5 cents per mile Driver Shortage Surcharge.
Effective Nov. 8, the over-dimensional freight and full transportation management specialist added a nickel surcharge on all loads, which will be passed on directly to drivers for a period of 90 days.
Montgomery Transport CEO Rollins Montgomery noted that with e-commerce expected to hit record levels this year, demand for local drivers, warehouse employees and drivers to support the final-mile support will be at a fevered pitch.
“This year has presented our industry with many challenges as supply chain constraints have forced all companies to adapt and discover new ways to push their businesses forward,” he said. “The labor force has been affected particularly hard within the transportation industry as many drivers have found new local opportunities and/or better pay in areas such as warehousing or final-mile delivery to support the e-commerce boom. We chose to address this issue by further investing in our best asset, which is behind the wheel.”
Montgomery estimated that e-commerce shipments to be at an all-time high during the next 90 days as the holiday season approaches so the need for qualified drivers will only be amplified particularly within the flatbed space.