Love’s Travel Stops said it has created Love’s Financial, a factoring service meant to help drivers manage business and cash flow needs.
The Oklahoma-based truck stop chain said the service is the first of its kind among travel center operators. The statement said drivers are paid within 24 hours through Love’s Financial, instead of having extended waits to be paid by other sources.
“Professional drivers and transportation fleets who want to grow their businesses or improve cash flow see factoring as a tool that makes sense,” said Gary Morgan, director of Love’s Financial. “Factoring through Love’s Financial helps drivers meet financial obligations that often hinder growth.”
The service can provide the funding needed to pay for expenses including fuel and insurance, and offers an option that doesn’t create debt or credit issues for drivers or fleets, the statement said. The service can be done remotely or through any Love’s location that does Transflo Express.
“Love’s Financial customers can expect that same level of expertise, integrity and customer service that’s synonymous with all Love’s products,” said Frank Love, co-CEO of Love’s, which operates 320 travel centers.