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Check the Kind of Bank Account You Want - Our Receivable Loan Company Can Give
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Using a Truck Factoring Company is useful for several reasons. It enables a trucking business to raise cash without obtaining brand-new financial obligation. While debt is in some cases needed, most trucking firms would choose to raise cash without borrowing money. Financial obligation is risky, and when it cannot be repaid, assets can be repossessed. If the debt is big enough, it might even force a trucking companies out of business.

 

 

 

 

 

 

 

How To Get Financing Without a Lawyer for Under One Dollar - Choose A Freight�Brokerage Factoring Company  Instead Of A Regular Bank Financing

Exactly how to Enhance Cash Flow Without Borrowing -Cash Money flow is one of the primary reasons businesses fail.

At one time or another, every business, even successful ones, have actually experienced poor money flow.

Money flow does not have to be an issue any ever more. Do not be deceived -- banks are not the only locations you can get funding. Other solutions are offered and you do not have to borrow. Exactly what is trucking factoring ? One option is called trucking factoring. Truck Factoring is the process of selling accounts receivable to an investor instead of waiting to collect the money from the customer. Oh, the Irony- Trucking factoring has an ironic difference: It is the monetary foundation of many of America's most effective businesses. Why is this ironic ? Since commercial factoring is not instructed in business colleges, is rarely mentioned in company strategies and is relatively unknown to bulk of most of American company individuals.

Yet it is a financial process that releases up billions of dollars every year, enabling thousands of businesses to grow and succeed. Commercial Factoring has actually been around for thousands of years. Receivable Financing Companies are investors who pay cash for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your client has to pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business deals, a big percentage of the retail company uses a factoring principal. MasterCard, Visa, and American Express all utilize a type of factoring in their retail transactions. Using the purest definition of the word, these big customer finance business are really simply large Accounts Receivable Factoring Businesses of customer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The store gets paid almost immediately, even though you do not make payment up until you are ready.

For this service, the credit card company charges Sears a charge (typical common normal fees vary from two to four percent of the sale). The Benefits Receivable Financing can offer many benefits to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on an item that has currently been delivered, a business can factor (sell) its receivables for cash at a small price cut off the amount of the invoice. Payroll, advertising efforts, and working capital are just a few of the company requirements that can be met with instant  money.

Factoring provides the means for a manufacturer to renew stock and make more items to sell: There is no longer a requirement to await for earlier sales to be paid. Receivable Loan Financing is not just a cash management device for producers: Practically any kind business can take advantage of Receivable Loan Funding. Typically, a company that extends credit will have 10 to 20 percent of its annual sales bound in invoices at any given time. Think for a moment about exactly how much is tied up in 60 days' worth of invoices: You can not pay the power bill or this week s payroll with a client s invoice, however you can sell that invoice for the money to meet those responsibilities. Using truck factoring companies is a fast and easy procedure. The factoring company buys the invoice at a price cut, usually a few percentage points less than the stated value of the invoice.

 

 

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The U.s. Truck Organization
specifies that there around
200,000 employees with freight trucking
businesses and
300,000 personal service providers trucking
companies certified to
run in America that carried,
according to their newest data of millions
items, supplies and
fundamental materials .
There are numerous typical
carriers either going solo or in
teams on our nation
roadways transferring these
crucial products to our
shops, manufacturingplants and harbors.

And freight invoice factoring
corporations support
several of them and offer their
receivables financing facilities
nationwidecounting
including the following states.

: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho State, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming

 

Glendale is a city in Maricopa County, Arizona, United States, located about 9 miles (14 km)) northwest from Downtown Phoenix. According to the 2010 census, the population of the city is 226,72Glendale. 1 City (1990 pop. 148,134), Maricopa co., S central Ariz., adjacent to Phoenix; inc. 1910. It is located in a rich agricultural region irrigated by the Salt River project. Glendale has become one of the fastest-growing U.S. cities, marked by a population increase of more than 52% between 1980 and 1990. It has food-processing plants and is a shipping point for fruits and vegetables. Luke Air Force Base, a large jet fighter training center, is in Glendale. The Arizona Cardinals of the and the Phoenix Coyotes of the National Hockey League play in Glendale. The American Graduate School of International Management and the Glendale Historical Society are also there.

 

 

Watch Our Factoring YouTube Video For More Information

 

Receivables factoring company Calculator
This calculator will show you how much you will make by using our receivables factoring company . But, as your about to discover, you will certainly notice the increased cash flow that will occur when you use our receivables factoring company
Enter the principal balance of your receivables factoring company
(call your receivables factoring company lender and ask for the current payoff amount):
Enter the amount of your monthly receivables factoring company payment:
(invoice amount):
Enter the your receivables factoring company's current interest rate:

Life of a Truck driver, like many other professionals can be very challenging, rewarding, and frustrating at the same time. �The com� is an information site for many of the Truckers needs. It is designed to encompass the needs of the Trucker, both on the Road and at Home.

List of Trucking Companies for Owner/Operators and Company Drivers

 

If you're like most drivers, you're looking for a better company in trucking that might be offering the best jobs in terms of pay, freight, and hometime ' not to mention benefits or a sign on bonus. We've got all of our clients listed based on the states where they're hiring, so you can quickly find the best job in your home state. You'll see the very best nationwide trucking companies that have positions available.

 

Click below to find Trucking Companies in the United States:

Trucking Companies serving to/from points within the United States,
categorized by services offered. United States Trucking
Companies will be listed under all categories in which they provide specified Trucking Services.
To find companies offering specific Trucking Services in the United States, click on the list of services below.

Life of a Truck driver, like many other professionals can be very challenging, rewarding, and frustrating at the same time. �The com� is an information site for many of the Truckers needs. It is designed to encompass the needs of the Trucker, both on the Road and at Home.

List of Trucking Companies for Owner/Operators and Company Drivers

 

If you're like most drivers, you're looking for a better company in trucking that might be offering the best jobs in terms of pay, freight, and hometime ' not to mention benefits or a sign on bonus. We've got all of our clients listed based on the states where they're hiring, so you can quickly find the best job in your home state. You'll see the very best nationwide trucking companies that have positions available.

 

Life of a Truck driver, like many other professionals can be very challenging, rewarding, and frustrating at the same time. �The com� is an information site for many of the Truckers needs. It is designed to encompass the needs of the Trucker, both on the Road and at Home.

List of Trucking Companies for Owner/Operators and Company Drivers

 

 

"

Willis Truck & Haul have been operating their business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the boom times from 2002 to 2007 Willis Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. The money was flowing, and times were great.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed to a crawl

 

. And worse yet, Willis had noticed during the early part of 2008 that though the bulk of their clients were always on time with payments, the few late-bloomers there were, had seemingly started to spread this illness. And as spring turmed to summer and summer into the early days of fall, Gordon Spencer, CEO of Willis felt a chill go down his spine whenever he would look at the weekly A/R reports. There was a growing list of clients who now owed them back debt.He had already been to the administrators to ask what the actual problem was. Were they doing something wrong or different when it came to reaching out to delinquent accounts? By his bookkeepers records, this wasn't the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Willis money had jumped ship and decided to leave him holding the bag.

 

. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. They had just gone home.This current state-of-affairs was causing Gordon Spencer to have some very restless nights. There were goods to ship, employees to pay, trucks to repair and maintain, and continuous overheads that were very extensive when compared to the funds (or lack of) that were incoming. In the evenings he would discuss his concerns with his wife, Bernice, and still find no relief from the worry and frustration.

 

""Lin, I have a really bad feeling,"" he would say with deep woe.""Well, what do you think it is?"" she would say.Gordon would stare off into the distance, and then slowly close his eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them on the road, delivering good to all his loyal customers. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What could cause this ultimate death spiral of business?""I think I know what it could be,"" said Gordon. ""I've relied too long on the profits I receive from invoices alone. For too long I've been allowing our clients to let their accounts become overdue."" Linda could only grab her husband's hand and look at him lovingly, ""it is a hard economy. It might be awhile until things get settled up.

 

""Gordon knew his wife meant well, but he knew that he was responsible for too many people to sit idly by, waiting for the sun to peak over the clouds.The following day Gordon walked into his office with a spring in his step, determined to call each and every client who owed money to Willis Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Gordon knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. Wasting money, wasting time - even with the best of intentions, Gordon knew that he was in trouble.

 

Poor Gordon spent the whole morning trying in vain to contact his debtors: they promised to call back, dodged his calls, or made small interest-only payments. He was beginning to feel quite despaired when his secretary knocked on his door.

 

""Gordon, can I have a word?"" she asked standing in the doorway.

 

""Of course Amber, please come in."" Gordon relaxed back into his chair and looked up at Ambererley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Gordon."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard the word factoring?"" Ambererley asked.""It sounds vaguely familiar. What is it?"" he said.She began, ""Well, it is really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Immediately?"" Gordon interrupted.""Yes, immediately,"" she continued, ""In a nutshell, it is pretty easy. We can have an expert account manager review our numbers and help us complete a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.""Gordon replied cautiously ""I see - and what happens then?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

The company will advise us the cost to purchase factoring for our company's accounts receivable. The funding commences once we�ve arrived at an agreement.�Leaning forward, Gordon studied the documents very closely.""I do not know, Amber - it just sounds too good to be true"", Gordon said quietly.""Now, now, I know, I thought the same thing. But think about it, Gordon: they've guaranteed that experts will do all the paperwork, and that will free us up to do what we should be doing - focusing on our customers in good standing, and that kind of stuff. And they're flexible Gordon,"" she underlined a paragraph on the paper before him.""Just how flexible?"" he asked.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. It only takes 2 to 4 days for this to be figured out. ""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" said Gordon.He took a deep breath and looked at his secretary with something she recognized as hope.""Precisely�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Gordon thought about this and agreed with Ambererley. The clients who owed them money were long standing friends and professional resources of Willis. They did not want to throw away these relationships because they were having trouble paying their bills now. Gordon knew only too well that the whole economy was floundering, and that it was not going to change overnight. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. He did not want to lose business but he also did not want to lose any more money.""Well, let me think about this tonight Amber, thank you."" Amber stood up and left Gordon's office, with the nice feeling of knowing that she may just have solved a very serious problem.Gordon sat behind his desk and looked over the details Amber had not mentioned in their meeting. What other issues could freight factoring help Willis with? With his pencil gliding down the sheet he noticed that the factoring company could help fray the cost of fuel with fuel discount cards and fuel advances. Gordon was surprised: it said that his company could get up to fifty percent cash advances on load pickups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""I must tell Ronnie the good news,"" Gordon muttered to himself.Gordon's son-in-law, Ronnie, loved the idea behind Willis and highly respected his father-in-law for having such great business sense, that two years ago he got his capital together and started his own transportation company. At that time Gordon knew the struggles Ronnie would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Willis was struggling then the little guys, like Ronnie, were going to be in even more trouble.

 

But, maybe the answer for both of them was in freight factoring, and Gordon was going to find out very soon.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Gordon was beginning to find his way out of the hole his debtors had created for him.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They used that time to refocus their efforts in being competitive in new territories. Gordon recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

Glendale is a city in Maricopa County, Arizona, United States, located about 9 miles (14 km)) northwest from Downtown Phoenix. According to the 2010 census, the population of the city is 226,72Glendale. 1 City (1990 pop. 148,134), Maricopa co., S central Ariz., adjacent to Phoenix; inc. 1910. It is located in a rich agricultural region irrigated by the Salt River project. Glendale has become one of the fastest-growing U.S. cities, marked by a population increase of more than 52% between 1980 and 1990. It has food-processing plants and is a shipping point for fruits and vegetables. Luke Air Force Base, a large jet fighter training center, is in Glendale. The Arizona Cardinals of the and the Phoenix Coyotes of the National Hockey League play in Glendale. The American Graduate School of International Management and the Glendale Historical Society are also there.

 

 

More Trucking Factoring Companies Story Articles

Factoring in the Future of a Trucking Business: A Story Greg Watkins let the phone ring on his desk. His morning coffee cooled and his cigarette smoked away in the tray: Greg is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Watkins Trucking Company had reached a turning point and he now had to make a decision as to whether he should sign up with a factoring company, and indeed if this would be a good or regrettable decision for his business.

 

Greg�s father had started as an owner-operator and had grown Watkins Trucking Company into a fifteen trailer fleet over forty years. There had been some hard times when it seemed everything was going to go under and even Greg�s mother strapped herself into a cab to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. But now things were different: the company was in Greg's hands and he needed to ensure that this business would be left in great shape for his sons.

 

To move Watkins Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. He had employees to pay. They had families and household bills too. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. He knew that turning down these requests made Watkins Trucking look inefficient and weak in what was currently a strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Greg chuckled, thinking about his father. He remembered when his father was totally against installing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). His father days were long gone and technology was actually an important improvement for the business such as having Qualcomm to cut down on fruitless time communicating on the phone for bills of lading.

 

Greg knew he was right in his forward thinking. How would he take Watkins Trucking to the next level? More importantly, how could he afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

But was factoring the answer? There was a lot he didn�t understand about the process. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Greg had to really consider what his next step was going to be. Greg had heard that there were companies that charged for same day money transfers and would only advance a percentage of the money owed to your company while holding the rest in a private account if they didn�t get their bill payment within 60 or so days. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

However, it all turned out to be very simple. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He didn�t mind signing an exclusive contract. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. Many companies offered a non-recourse factoring program that suited him just fine. He was more than happy with the figures he was offered in percentage terms on the freight bills. It sounded like a great scheme to him.

 

For Greg it was quite a relief to be dealing with the factoring company. They were extremely helpful and more personable than the bank staff. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar for a handout. The factoring companies didn�t worry over his credit and the debt troubles his father had had in the past of the company. Factoring was based on the credit of his customers and on their reliability which worked well for Greg because he and his father had built up good strong relationships over decades with their list of clients. So he knew they would understand when the factoring company contacted them for the invoices. His clients would not have any problems, nor would they think poorly of Watkins Trucking, because the factoring companies handle themselves in such a polite and professional manner, similar to the way his father had managed the business in the past.

 

Feeling happier now, Greg stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. With the capabilities of this new cash flow, Greg could actually expand Watkins Trucking Company further across the country and perhaps even go international into Canada. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

 

 

View Our Freight Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So, this is not a loan?� asked Roberto Collins, reclining back into his chair and crossing his legs. The woman sitting across the desk from Roberto smiled at him, shaking her head.�No, not exactly,� she stated.Roberto was the owner of a small trucking company which had fallen on some hard times recently. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Ron. He named his business Phillips Trucking, named after Joel and Leonard, his two grandfathers. They had both been hardworking men, and had done a lot to make Roberto the same.Six months ago disaster struck Ron's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. The financial security of Ron's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.A big problem a lot of trucking companies came across was how bills were paid in the industry. Waiting a month or longer for bills to be paid was quite normal. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Roberto was an excellent business man, and he certainly hadn't done anything wrong. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.That�s where the woman across the desk came in. Roberto knew she was employed by a Factoring company and that her name was Vickie. He had accidentally come across her company one night when he was working late, searching the internet to see if there was some solution to his financial dilemma.She sat there now, and explained. �it is really not a loan at all: we actually buy your accounts receivable. we are not giving you finance to be repaid later: we are purchasing something from you, and when you can you can buy it back. That way we�re protected from a complete loss, but you�re protected from the outrageous fees you would find in a loan from the bank.Roberto agreed. It sounded good to him, almost too good.Vickie laughed. �I'm not sure that you believe me,� she chuckled.�Oh no, I do: it just sounds too good to be true. I actually thought I might end up losing my business.�Vickie nodded. �Yes, we get a lot of that. There's no way we want to see you lose your business. You work hard, you�ve put everything you can into it. Sometimes you need help. That's why we do what we do.""Well, I'm very grateful that you came to see me today.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� Vickie said with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Roberto filled the form out, with Vickie available to help him if he needed it. The completed profile gave Vickie and her company all the information they needed on Ron's business, and with this information they would determine if this business would in fact be suitable for Factoring. In truth, not all companies were. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. As Roberto completed his form, Vickie listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Vickie took it and slid it into her briefcase. Standing up, she reached over the desk and shook Ron's hand. He also stood up, and they smiled at each other. They said their goodbyes and Roberto walked her to the door, and then returned to his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He shut his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. Talking to Vickie though, learning about factoring, it felt like a weight had been lifted from his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.All those long, sleepless nights. The terrifying panic attacks that occurred regardless of where he was. He could feel it all fading away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.Roberto couldn�t help but think back to when he had first started the business. At twenty-two and straight out of school he had opened a restaurant. It had been really successful. Offering home cooking in his own hometown, his business had really prospered.But it wasn't what he really wanted to do. He wasn't passionate about the food industry. He thought long and hard, and then he decided to sell the restaurant. He took half a year off, and in that time he thought to start Phillips Trucking. So he did it. Once again he built a company from the ground up. The business had been an instant success.And then the trucks went down, and his success looked to be in flux. He was nearing fifty. He was concerned that he just did not have the energy left to try and save the business. But giving up wasn't part of his personality either.

 

Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He did not want to quit - both for himself and for his staff members.And now, because of factoring, he was sure he wouldn�t have to. Roberto opened his eyes, sat forward, turned his computer on. He had things to do. He could be thankful later, for now, it was time to work.

 

"

 

 

 

More Trucking Factoring Company Story Articles

Precisely why Truck Companies Employ Factoring Companies.

 

As the owner of your own business, you may be more than knowledgeable already of the difficulty in making certain that capital matters do not become a problem down the line. Anyway, the most unfortunate thing that can potentially transpire for your business is to find yourself swept up in a long and perplexing circumstance that leaves you forever trying to find the cash you necessitate on an ongoing basis.

 

For any type of business enterprise in this position, the challenge can come for waiting for work to clear up and actually be compensated into your balance. Statements, checks, and the like can take a while to actually to beprocessed which can certainly leave you with momentary capital issues. Thankfully, there are options out there for industries to look into-- and just one of these is factoring companies.

 

Factoring agencies will, in trade for your invoices, supply you with the cash immediately to ensure you do not have to fret about the waiting time span which could make paying out the expenses and purchasing toolsmore tough. With this form of setup, invoice factoring can end up being exceptionally valuable for lots of businesses who have to avoid a money lure which they have found themselves in.

 

Because, basing on the volume of the work, it can take up to 60 days for many companies to get paid then it is significant to blanket your own back and definitely not leave yourself money short to pay the expenses. After all, how many establishments have two months cash flow just occupying there to cover all their expenditures till they make money?

 

This is most notably correct of trucking agencies. They generally manage tons of statements which means a substantial volume of collection period entails business owner themselves. Making an effort to get paid in time can eventually become an incredible inconvenience and this is why you utilize truck factoring agencies who are pleased to help out truckers exclusively.

 

As we all determine, trucking is an remarkably big market with numerous companies out there employing hundreds of vehicle drivers. Regrettably, several of these drivers end up in money predicaments considering that they are still anticipating work from six weeks earlier to actually compensate them. When this is the circumstance for a truck agency, resorting to factoring agencies for support maybe the most recommended alternative left.

 

This implies that a truck company can pay off the salaries of the staff, keep all the vehicles filled with gas and continue to go up, progress and expand without always waiting for the cash which is taking too prolonged to come in. Trucking Establishments running without a factoring program used are leaving themselves at significant risk, as rivals cash out promptly and carry on to grow.

 

There's genuinely nothing to be worried about when it comes to working with a Factoring company-- they typically are not like a financial institution or an individual who is going to leave you with a big pile of financial obligation to pay back. You give them genuine invoices from work you have already accomplished , you are merely expediting the repayment process.

 

In the Usa, where truck companies succeed, factoring firms are not considered accepting loan of in any capacity. This confidential deal then makes it possible for both parties to profit and indulge in a comfortable future-- it gives the factoring business a guaranteed asset of revenue to include in the list and it supplies the trucking business the needed finances that they sweated to earn.

 

The trucking establishment provides their accounts to the factoring business. The trucking factoring provider then take the payment amounts from the trucking company's clients. Factoring has been all around for hundreds of years and has been used for several years by several diverse business sectors-- but none more so than truckers. While you might miss out on a small part of the money, something like 1-3 % depending on who you team up with, it indicates that you are acquiring the resources today and can actually start off setting the funds to perform.

 

Once and for all, an IOU or an invoice is not actually going to cover costs, is it? For trucking enterprises when the hard earned cash can be very good one day and gone the next, it is up to the vehicle drivers to work sensibly and to make certain they are leaving themselves with a significant amount of time and money to get through the week until they are paid for once more.

 

So the next period your trucking business is having some short-term cash flow concerns and you are shelling out way too much time chasing sluggish paying clients, why not start thinking about utilizing a factoring companies as a manner to get your cash and give yourself a more convenient future in the eyes of your trucking team and your bank balance?

 

 

 

 

 

 

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Traditional Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. These loans can be a life-saver, but they're not always available to every business. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Once the loan is paid off, you can then apply for another loan if the need arises.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

While not every business can take advantage of Trucking Factoring account financing (you have to have a business that has account receivables) for those that can use this type of financing there are several distinct benefits.

 

1. There is no debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. There's no collateral required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

3. You'll receive the money faster. With a Trucking Factoring company you can actually get the money you need faster. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.You receive interest up-front. With a bank loan interest continues to build, and this has to be paid the whole time you have a business loan; however with a Trucking Factoring company there is no interest - they take it right off the top by deducting it from the total amount of receivable accounts. So not only are you relieved of those monthly loan payments, but you also do not have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very efficient at debt collecting, and this frees up your valuable time to devote to running your company.

 

Another bonus is that, because the Trucking Factoring company has evaluated the quality of your customers' credit before buying the accounts receivable, you learn valuable information regarding your customers, like which ones are likely to pay, and which ones are less likely to pay.While a Trucking Factoring company is not the only way for your business to obtain the money it needs to keep growing, it does offer a type of financing well worth considering.

 

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Factoring Companies by City

New York City

Los Angeles


Chicago


Houston


Philadelphia


Phoenix


San Antonio


San Diego


Dallas


San Jose

Austin


Jacksonville


Indianapolis


San Francisco


Columbus


Fort Worth


Charlotte


Detroit


El Paso


Memphis

 

 

Boston


Seattle


Denver


Washington DC


Nashville-Davidson


Baltimore


Louisville/Jefferson


Portland


Oklahoma City


Milwaukee


Las Vegas


Albuquerque


Tucson


Fresno


Sacramento


Long Beach


Kansas City


Mesa


Virginia Beach


Atlanta

 

Colorado Springs


Raleigh


Omaha


Miami


Oakland


Tulsa


Minneapolis


Cleveland


Wichita


Arlington

 

New Orleans

Bakersfield

Tampa

Honolulu

Anaheim

Aurora

Santa Ana

St. Louis

Riverside

Corpus Christi

Pittsburgh

Lexington Fayette

Anchorage

Stockton

Cincinnati

St. Paul

Toledo


Newark

Greensboro

Plano

Henderson

Lincoln

Buffalo

Fort Wayne

Jersey

Chula Vista

Orlando

St. Petersburg

Norfolk

Chandler

Laredo

Madison

Durham

Lubbock

Winston Salem

Garland

Glendale

Hialeah

Reno

Baton Rouge

Irvine

Chesapeake

Irving

Scottsdale

North Las Vegas

Fremont

Gilbert town

San Bernardino

Boise

Birmingham

Rochester

Richmond

Spokane

Des Moines