The market for hot shot loads is very competitive. These loads can bring higher rates but are time-sensitive. Due to the nature of the business, owner-operators must heavily rely on load boards.
Load boards can be essential to growing your business and securing loads for the return trip. In this article, we cover the following:
- 12 top hot shot load boards
- Are load boards a good strategy?
- How to improve cash flow with factoring
Note, we are not a load board and do not provide loads. The list below has companies that do provide loads.
Top hot shot load boards
Here is a list of the top hot shot load boards:
- uShip – Hot Shot
- Truckstop
- DAT
- Freightfinder (look for Hotshot)
- Trucker Path
- Hot Shot Carrier
- 123 Loadboard – Hot Shot
- 123loadboard (select Hotshot option)
- Expedite Loads
- Shiply
- ACV Auctions (auto transport only)
- Trulos (LTL)
Note: this list is provided as reference and is not an endorsement.
Are load boards a good strategy?
Owner-operators should not rely solely on load boards to run or grow their companies. These loads are usually competitive, and you must bid carefully. You must know your per-mile cost to ensure you never bid a per-mile rate that is too low. Otherwise, you could end up hauling loads at a loss.
Most of the loads hot shot owner-operators pull are “just in time” loads. Due to the nature of these loads, getting long-term contracts with shippers is difficult. This is why load boards are important to this segment of the trucking industry.
Improve cash flow by factoring freight bills
Host-shot truckers often pull loads for commercial clients and brokers. These clients typically pay their invoices in 30 to 60 days. Net-30 to net-60 day payments can create cash flow problems for owner-operators who need funds to cover fuel and other expenses.
You can improve your cash flow by using freight bill factoring. A freight factoring plan finances your slow-paying invoices. It provides funds to run your business while waiting to get paid. It’s available to owner-operators and has simple qualification requirements. Read “What is freight bill factoring?” to learn more.
a) Costs
The cost of factoring varies based on the volume of invoices you finance and their quality. Generally, rates go from 1.15% to 4.5% per 30 days. Tiered plans can be prorated, and some factors offer flat rates.
Looking for factoring?
We are a leading factoring company and can provide truckers with competitive rates. For a quote, fill out this form or call us toll-free at (877) 300 3258.