Fleet Factoring Responds to Wild Fires

Fleet Factoring Responds to Wild Fires

Fleet Factoring Can Provide Resources and Aid

There is rain in the forecast for California which could provide a respite and relief from the fires that have burned over 300,000 acres of land. Full containment is expected by November 30th for both the Camp and the Woosley fires, bringing this season to a hopeful close. However, that does not mean that the devastation is over and the same could follow in the year to come. Each year, an average of 7,500 wildfires burn approximately 1.5 million acres on National Forests and Grasslands, and every year the danger becomes riskier and more wide spread. Hundreds of agencies across the country are in position to address the outcome and that includes the trucking industry. Fleets of all sizes in the vulnerable areas have strategies in place for immediate action, and even those fleets that are not close to the danger are preparing for the fall out. While a clear plan may be in place, that may not be the case for the cash flow needed to implement that plan. Fleet factoring has become a valuable option for providing the necessary resources when supply chains have been broken and alternative strategies are needed quickly. Factoring is critical in helping to provide the resources and aid during a time where chaos seems to be pervasive.

When Supply Chains are Weakened, Factoring Can Help

The trucking industry is considered the life blood of the American economy so when the fleets are shut down, there is a direct impact on individual households, businesses and services across the country not the least of which are those services in the path of the devastation. The transportation and warehousing needs that have arisen in the wake of the disaster will require more resources than ever before. Thankfully, fleets across the country are stepping up to help, and while they offer aid, they are utilizing their own resources much of which is funded by fleet factoring.  The American Logistics Aid Network (ALAN) was formed in 2005 after Hurricane Katrina devastated New Orleans. The organization provides free disaster logistics relief before, during and after catastrophic events and relies on the generosity of the trucking industry to help in those efforts. ALAN’s mission is to activate a network of supply chain professionals, soliciting donations of transportation, storage space, logistics services, and equipment. Fleets of all sizes are offering what they can and thanks to fleet factoring, resources can be put to operational and other functions to answer the needs.

Fleet Factoring Can Provide Resources and Aid

“Some of it is just the scale of the destruction, trying to make sure that the nonprofit community can get the items they need — and such vast quantities — into the area. That’s one of the challenges the organizations are facing now,” Kathy Fulton, Executive Director, American Logistics Aid Network (ALAN)

The trucking industry is a generous one, and fleets across the country are reacting in order to provide some assistance. Immediate access to cash flow is more important in these situations than ever and fleet factoring contracts can guarantee that fleets are able to access what they need when they need it. Fleet factoring can also provide funds to expand operations and human resources to deploy as the situation requires. Factoring will also allow for vehicle purchase or warehousing rental in the event that a disaster has impacted the fleet negatively. During this kind of disaster, supply chains are weakened and, in some cases, broken all together. Fleets are stepping up to fulfill the supply chain demands which means overtime hours can be astronomical for both the employees and the equipment. Fleet factoring funds can invaluable for sustaining the work flow during these stressful times.

When Supply Chains are Weakened, Factoring Can HelpFlexibility Through Factoring

The right fleet factoring contract can provide flexibility that can allow for more invoice factoring when you need it and less when you don’t. FleetOne Factoring has the knowledge of the industry in order to address the needs in the most efficient ways.

For example, whether a fleet is offering to help an organization like ALAN, or they are addressing their own losses, there are factoring solutions that can help. Non-recourse or recourse factoring should be carefully considered based on the specifics of the situation.

NON-RECOURSE CUSTOMIZED SOLUTIONS

  • Full advance options
  • Free same day funding
  • Flat rate
  • Easy online invoice upload with FleetDocs
  • Industry leading fuel discounts with your Fleet One Edge fuel card

RECOURSE CUSTOMIZED SOLUTIONS

  • Based on volume, rates starting as low as 1%
  • Same day funding
  • Up to 97% advance rates with no hidden fees
  • Easy uploading of documents with FleetDocs
  • Industry leading fuel discounts with your Fleet One Edge fuel card

Each of these FleetOne solutions offers a different approach depending on the position the fleet is in. Choosing the best options will be driven by a number of variables especially if the fleet has experienced a direct impact of the wildfires. However, they can be confident in knowing that the industry is strong, help is abundant that resources like fleet factoring are there, particularly in a natural disaster. Companies like FleetOne can manage the financial aspects and not only provide cash flow, but relieve some of the stress as the fleet is focusing on the supply chain, getting their employees and drivers paid and getting the job done.

 

RESOURCES:

https://www.dcvelocity.com/articles/20181114-alan-mobilizes-logistics-response-to-california-wildfires/

https://www.cbsnews.com/live-news/fires-in-california-camp-woolsey-paradise-wildfire-evacuations-death-toll-map-2018-11-18-latest/

https://www.ttnews.com/articles/trucking-crews-begin-assistance-effort-california-residents-affected-wildfires