Great Plains Blog

Factoring Basics: Boosting Cash Flow in Transportation

Great Plains Staff — Tue, 25 Aug 2026 15:17:13 GMT

Exploring the Core Concepts of Factoring in Transportation

In the transportation industry, maintaining a steady cash flow is crucial for operational success. Factoring, a financial strategy that involves selling invoices to a factoring company in exchange for immediate cash, has emerged as a vital tool for many businesses. This process allows transportation companies to convert outstanding invoices into immediate funds, thereby avoiding the cash flow disruptions caused by delayed client payments.

Combating Fraud in the Trucking Industry: FMCSA's New Measures

Great Plains Staff — Tue, 25 Aug 2026 14:53:23 GMT

Fraud in the trucking industry is a persistent issue that can significantly impact the financial stability and reputation of businesses. To address this, the Federal Motor Carrier Safety Administration (FMCSA) is stepping up its efforts to combat fraudulent activities. Here’s a look at the new measures being implemented and the common types of fraud that the industry faces.

Navigating FEMA Loads: What Carriers Need to Know

Great Plains Staff — Tue, 25 Aug 2026 14:50:55 GMT

As hurricane season approaches, many carriers may find themselves called upon to assist with FEMA disaster relief efforts. While this work is crucial and rewarding, it comes with its own set of challenges. Here’s what you need to know to navigate FEMA loads effectively.

How to ensure that all your invoices get purchased each day

Britta@24248716.hs-sites-na2.com (Britta Helgeson) — Tue, 25 Aug 2026 14:34:27 GMT

There are two ways to make sure we are able to purchase all of your invoices on the day you send them in to be purchased.

New Rule for Small Trucking Businesses

Great Plains Staff — Tue, 25 Aug 2026 14:26:53 GMT

The U.S. Treasury has a new rule for small trucking businesses. If you own a small trucking company or drive your own truck, you need to tell the government who owns your business. This is called reporting Beneficial Ownership Information (BOI).

Who Needs to Report?
• Any new business started this year, like LLCs, corporations, and partnerships.
• Existing businesses have until the end of 2024 to report.

What Information Do You Need to Provide?
• Your name, date of birth, address, and an ID like a driver’s license or passport.
• Your business name, address, and Employer Identification Number (EIN) or Social Security Number (SSN).
• Names of anyone who owns more than 25% of the business or has significant control over it.

Why Is This Important?
The government wants to stop money laundering, which is when people hide money they got illegally. By knowing who owns businesses, it’s harder for criminals to hide their money.

Penalties for Not Reporting:
If you don’t report, you could be fined $500 per day and even face jail time in severe cases.

Good News:
The reporting process is simple and can be done online by going to FinCEN’s BOI e-filing website. https://boiefiling.fincen.gov/

What to Do if Your Identity is Stolen: Expert Advice from FMCSA

Great Plains Staff — Tue, 25 Aug 2026 14:26:14 GMT

One of our clients recently told us their identity had been stolen. The scammers were using their operating authority to contract loads, which caused financial and reputational problems. Here’s what an FMCSA investigator advised our client to do:

FMCSA has removed 15 devices from its list of registered ELDs

Great Plains Staff — Tue, 25 Aug 2026 14:25:04 GMT

In several actions announced since November, FMCSA has removed 15 devices from its list of registered electronic logging devices (ELDs) for failure to meet the minimum requirements established in 49 CFR part 395, subpart B, appendix A. The devices removed are:

Factoring 101: Boosting Cash Flow in Transportation

Great Plains Staff — Tue, 25 Aug 2026 14:24:04 GMT

Factoring 101: Boosting Cash Flow in Transportation

Factoring Services: The Secret to Reducing Overhead Costs in Trucking

Great Plains Staff — Tue, 25 Aug 2026 14:22:09 GMT

True or False?

Larger trucking companies increasingly opt for factoring services to decrease overhead costs and improve cash flow.

Mitigating Risk of Broker Dependence in Trucking

Britta@24248716.hs-sites-na2.com (Britta Helgeson) — Tue, 25 Aug 2026 14:21:11 GMT

At Great Plains Transportation, we regularly assess our clients' reliance on individual brokers and customers. This review is vital because depending too much on one broker can expose trucking companies to financial, operational, market, and strategic risks, affecting their stability and growth. By identifying these risks, we provide insights and strategies to help mitigate vulnerabilities and ensure a balanced, secure operation.