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To Companies Who Want To Write - but Can't Get Started - Our Accounts Receivable Factoring Company Can Give
Your Freight Company The Cash You Want

factoringinformation.org

trucking invoice factoring companies

trucking invoice factoring companies

trucking invoice factoring

freight bill factoring companies

Invoice Factoring is useful for a number of factors. It enables a trucking company to raise cash without acquiring new financial obligation. While debt is often needed, the majority of truck companies would choose to raise cash without obtaining money. Financial obligation is high-risk, and when it can not be repaid, properties can be repossessed. If the debt is big enough, it could even force a truck companies out of business.

 

 

 

 

 

 

 

What Your Banker Doesn't Want You to Know - Pick A Freight�Brokerage Factoring Company  Instead Of A Traditional Bank Funding

How to Enhance Money Flow Without Loaning -Cash Money flow is among the main reasons businesses fail.

At one time or another, every company, even successful ones, have actually experienced poor cash 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 options are offered and you do not have to borrow. What is trucking factoring ? One solution is called trucking factoring. Trucking Factoring is the process of selling accounts receivable to a financier instead of waiting to gather the money from the customer. Oh, the Irony- Truck factoring has a paradoxical difference: It is the monetary backbone of numerous of America's most effective businesses. Why is this ironic ? Because trucking factoring is not taught in business colleges, is seldom mentioned in business strategies and is fairly unknown to bulk of most of American business individuals.

Yet it is a financial process that frees billions of dollars every year, enabling thousands of businesses to grow and prosper. Factoring has been around for thousands of years. Trucking Factoring Businesses are investors who pay money for the right to get the future payments on your invoices. An overdue receivable or invoice has value. It is a debt your client has actually agreed pay in the near future. Factoring Principals--Although factoring offers solely with business-to-business deals, a large 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 large customer finance companies are truly just large Trucking Factoring Businesses of customer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The store makes money almost instantly, although you do not make payment up until you are ready.

For this service, the charge card business charges Sears a charge (typical common normal charges range from 2 to four percent of the sale). The Advantages Receivable Funding can offer many advantages to cash-hungry companies. Instead of waiting 30, 60, 90 days or longer for payment on an item that has currently been delivered, a company can factor (sell) its receivables for cash at a little discount off the amount of the invoice. Payroll, advertising efforts, and working capital are simply a few of the company needs that can be satisfied with instant  cash.

Invoice Factoring offers the ways for a producer to renew inventory and make even more items to offer: There is no longer a requirement to wait for earlier sales to be paid. FACTORING is not simply a money management device for manufacturers: Almost any kind company can take advantage of FACTORING. Generally, a business that extends credit will have 10 to 20 percent of its annual sales bound in invoices at any given time. Think for a minute about how much is bound in 60 days' worth of invoices: You can not pay the power bill or this week s payroll with a customer s invoice, however you can offer that invoice for the money to satisfy those responsibilities. Using trucking factoring companies is a quick and easy process. The factoring company buys the invoice at a discount, typically a few portion points less than the stated value of the invoice.

 

 

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The U.s. Truck Association
mentions that there are about
195,000 employees with truck
businesses and
300,000 personal service providers trucking
companies licensed to
operate in the States that transferred,
according to their newest data of millions
items, supplies and
standard materials .
There are several usual
providers either going solo or in
groups on our country
highways transferring these
important items to our
stores, factories and ports.

And freight bill factoring
companies support
several of them and offer their
receivables financing facilities
countrywidecomprising
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

 

"

Akron /'�kr?n/ is the fifth-largest city in the U.S. state of Ohio and is the seat of Summit County. It is in the Great Lakes region approximately 39 miles (63 km) south of Lake Erie along the Little Cuyahoga River. As of the 2010 census, the city had a population of 199,110.[5] The Akron, OH Metropolitan Statistical Area (MSA) covers Summit and Portage counties, and in 2010 had a population of 703,200.[5] Akron is also part of the larger Cleveland-Akron-Canton, OH Combined Statistical Area, which in 2010 had a population of 3,515,646.Akron was co-founded in 1825 when suggested by Paul Williams to Simon Perkins. In 1833, ""South"" was temporarily added to the name when Eliakim Crosby settled a bordering North Akron.[6] After Summit County formed from portions of Portage, Medina, and Stark counties in 1840, Akron succeeded Cuyahoga Falls as county seat a year later. The Akron School Law of 1847 created the K-12 system.[7] In 1851, Sojourner Truth attended a convention and extemporaneously delivered the original ""Ain't I a Woman?"" speech. During the Civil War, Ferdinand Schumacher supplied the Union Army with oats produced by his mill along the Ohio Canal. Between the 1870s and World War I, numerous churches across the nation were built using the Akron Plan.[8][9]With a population increase of 201.8% during the 1910s, it became the nation's fastest-growing city due to industries such as stoneware, sanitary sewer, fishing tackle, farming equipment, match, toy, and rubber.[10][11] The companies l Tire, Goodrich, built headquarters, though only the latter remains. Airships, blimps, dirigibles, and zeppelins have been manufactured at the Airdock since World War II. The Polymer and National Polymer Innovation Centers are on the University of Akron campus, which anchors the Polymer Valley and is home to the Archives of the History of American Psychology. Akron also headquartered the N as one of ten Information Age high tech havens.[13] Awarded by the National Civic League and National Arbor Day Foundation, it was named one of the world's most livable cities.[14] The All-American are annually hosted by the city, which was a venue for some events of the 2014 Games. Tourist attractions include Stan Hywet Hall & Gardens and Lock 3 Park, where the American Marble & Toy Manufacturing Company once stood.Residents of Akron are referred to as ""Akronites."" Nicknames include ""Rubber City,"" ""City of Invention"" and ""Rubber Capital of the World.""[15][16][17]Many industries in the United States either began or were influenced by the city. After beginning the tire and rubber industry during the 20th century with the founding of Good gained the status of, ""Rubber Capital of the World"". Akron has won economic awards such as for City Livability and All-American City, and deemed a high tech haven greatly contributing to the Information Age.[103] Current Fortune 500 companies headquartered in the city include the Goodyear Tire and Rubber Company and FirstEnergy. In addition, the city is the headquarters to a number of other notable companies Jewelers. America's biggest tire manufacturer and the fifth-largest private employer in Summit County,[104] recently built a new world headquarters in the city. The project, Akron Riverwalk, will feature a large retail and commercial development area.[105] The project began in 2007, but was put on hold due to the financial crisis of 2007�2010, and is now continuing.[106] Bristone built a new technical center with state-of-the-art R&D labs, and relocated its product development operations to the new facility in early 2012.[107][108] The Eastern Ohio Division of Bank, which has six branches in the city, built a regional headquarters downtown.[109] The city has a free WiFi corridor centered in downtown. Neighborhoods in range include Goodyear Heights, East Akron, North Hill, Firestone Park, Kenmore, and West Akron.[110] Some frequented locations in the area include, Akron-Summit County Public Library, John S. Knight Center, and the Robert K. Pfaff Transit Center.

 

"

 

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

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.

 

Searching for the right trucking companies to move your freight can be tough, with the large amount of local, regional, and national truck carriers out there. Center helps make freight shipping simple, finding you the safest, reliable trucking companies every time you ship. Trucking companies are licensed and insured to carry freight safely and efficiently across the country, no matter the size or type of freight you need to ship.Plus, with the high volume of freight we move, we will work to get you the best freight rates possible. Simply enter in a few details below and you�ll see instant freight rates from all the top trucking companies in one easy screen

 

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.

EveryJob is a free service dedicated to helping professional truck drivers find new truck driving jobs with the best trucking companies hiring today!

Locate truck driving jobs by city, state, position andenefits offered. Search current driving jobs and fill out the EZ truck driver application customized for cdl trucking jobs

 

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.

 

 

"

Green Truck & Haul have been operating their business since the mid 1980s. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the heady times from 2002 to 2007, Green was a top rated accounts receivable mastermind of 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. Times were great for everyone, and the cash was flowing.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, Green 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, Andrew Austin, CEO of Green felt a chill go down his spine whenever he would look at the weekly A/R reports. The numbers of clients who owed him back debt were growing.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? When checking his bookkeeper's records this was definitely not the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. 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. The had just gone!.The situation looked dire to Andrew Austin. 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. After work he would confide in his wife, Virginia, and neither were unable to stop the constant worry over the lack of funds.""I have a bad feeling, Lin,"" he'd sadly say to his wife.""What could you do differently?"" she would ask.Andrew 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 traveling, bringing goods to all of his clients. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. Why couldn�t he work out how to resolve this financial problem with his business?""I think I know what it could be,"" Andrew said. ""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.

 

""Andrew knew very well that Virginia was only trying to help, but his responsibilities weighed heavily on his shoulders and he knew he had better do something soon to resolve this situation.The following day Andrew walked into his office with a spring in his step, determined to call each and every client who owed money to Green Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Andrew 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. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. Wasting money, wasting time - even with the best of intentions, Andrew knew that he was in trouble.

 

Poor Andrew 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.

 

""Can I have a word with you Andrew?"" she queried, standing in the doorway.

 

""Of course Agnes, please come in."" Andrew leaned back in his chair and looked expectantly at Agneserely.""Well Andrew, this afternoon I did some research, trying to work out how we are going to get out of this mess."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard of factoring?"" Agneserley asked.""It does sound vaguely familiar. What is factoring""? he asked.""Well,"" she began, ""It�s actually quite simple really.

 

So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Immediately?"" Andrew interrupted.""Immediately, yes"" she added, ""In a nutshell, it is pretty easy. We start by having a professional account manager review our figures and help us set up a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.""I see,� Andrew said. �And then what?""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. There�s a lot of flexibility depending on the business volume and credit histories. 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.�Andrew leaned forward and reviewed the paperwork closely.""I do not know, Agnes - it just sounds too good to be true"", Andrew said quietly.""Yes, I know; that's exactly what I thought at the beginning. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. And they're flexible Andrew,"" she drew a circle around a paragraph on the document before him.""How flexible?"" asked Andrew.""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. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" Andrew said.Andrew took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Andrew thought about this and agreed with Agneserley. The clients who owed them money were long standing friends and professional resources of Green. Just because they were experiencing difficulties paying their own bills now, Andrew was very concerned about losing these relationships. Andrew knew only too well that the whole economy was floundering, and that it was not going to change overnight. That unknown amount of time could create a disaster situation for both of them if he wasn't careful in how these debtors were handled. He did not want to lose business but he also did not want to lose any more money.""Let me go over this tonight Agnes, and thankyou."" Agnes nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Andrew keep the shirt on his back, and possibly hers too.Andrew stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. What other issues could freight factoring help Green with? Running his pencil down the sheet, he noted that the freight factoring company could assist with fuel costs, fuel advances, and fuel discount cards. Andrew 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.""Well, I'll have to tell Barry about this,"" Andrew muttered to himself.Barry is Andrew's son-in-law, and he really admired the ideas behind Green, so much so that only two years before he had started his own transportation service business. At that time Andrew knew the struggles Barry would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Green was struggling then the little guys, like Barry, were going to be in even more trouble.

 

But, an antidote may have been found in freight factoring and Andrew was soon to find out.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Andrew was beginning to find his way out of the hole his debtors had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They took that time and refocused effort to offering competitive prices in new territories. Andrew recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. If Andrew hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

"

Akron /'�kr?n/ is the fifth-largest city in the U.S. state of Ohio and is the seat of Summit County. It is in the Great Lakes region approximately 39 miles (63 km) south of Lake Erie along the Little Cuyahoga River. As of the 2010 census, the city had a population of 199,110.[5] The Akron, OH Metropolitan Statistical Area (MSA) covers Summit and Portage counties, and in 2010 had a population of 703,200.[5] Akron is also part of the larger Cleveland-Akron-Canton, OH Combined Statistical Area, which in 2010 had a population of 3,515,646.Akron was co-founded in 1825 when suggested by Paul Williams to Simon Perkins. In 1833, ""South"" was temporarily added to the name when Eliakim Crosby settled a bordering North Akron.[6] After Summit County formed from portions of Portage, Medina, and Stark counties in 1840, Akron succeeded Cuyahoga Falls as county seat a year later. The Akron School Law of 1847 created the K-12 system.[7] In 1851, Sojourner Truth attended a convention and extemporaneously delivered the original ""Ain't I a Woman?"" speech. During the Civil War, Ferdinand Schumacher supplied the Union Army with oats produced by his mill along the Ohio Canal. Between the 1870s and World War I, numerous churches across the nation were built using the Akron Plan.[8][9]With a population increase of 201.8% during the 1910s, it became the nation's fastest-growing city due to industries such as stoneware, sanitary sewer, fishing tackle, farming equipment, match, toy, and rubber.[10][11] The companies l Tire, Goodrich, built headquarters, though only the latter remains. Airships, blimps, dirigibles, and zeppelins have been manufactured at the Airdock since World War II. The Polymer and National Polymer Innovation Centers are on the University of Akron campus, which anchors the Polymer Valley and is home to the Archives of the History of American Psychology. Akron also headquartered the N as one of ten Information Age high tech havens.[13] Awarded by the National Civic League and National Arbor Day Foundation, it was named one of the world's most livable cities.[14] The All-American are annually hosted by the city, which was a venue for some events of the 2014 Games. Tourist attractions include Stan Hywet Hall & Gardens and Lock 3 Park, where the American Marble & Toy Manufacturing Company once stood.Residents of Akron are referred to as ""Akronites."" Nicknames include ""Rubber City,"" ""City of Invention"" and ""Rubber Capital of the World.""[15][16][17]Many industries in the United States either began or were influenced by the city. After beginning the tire and rubber industry during the 20th century with the founding of Good gained the status of, ""Rubber Capital of the World"". Akron has won economic awards such as for City Livability and All-American City, and deemed a high tech haven greatly contributing to the Information Age.[103] Current Fortune 500 companies headquartered in the city include the Goodyear Tire and Rubber Company and FirstEnergy. In addition, the city is the headquarters to a number of other notable companies Jewelers. America's biggest tire manufacturer and the fifth-largest private employer in Summit County,[104] recently built a new world headquarters in the city. The project, Akron Riverwalk, will feature a large retail and commercial development area.[105] The project began in 2007, but was put on hold due to the financial crisis of 2007�2010, and is now continuing.[106] Bristone built a new technical center with state-of-the-art R&D labs, and relocated its product development operations to the new facility in early 2012.[107][108] The Eastern Ohio Division of Bank, which has six branches in the city, built a regional headquarters downtown.[109] The city has a free WiFi corridor centered in downtown. Neighborhoods in range include Goodyear Heights, East Akron, North Hill, Firestone Park, Kenmore, and West Akron.[110] Some frequented locations in the area include, Akron-Summit County Public Library, John S. Knight Center, and the Robert K. Pfaff Transit Center.

 

"

 

More Trucking Factoring Companies Story Articles

"

The Future of a Trucking Company, and Factoring Lawrence Richardson let the phone ring on his desk. He let his morning coffee cool and left his cigarette to ash itself in the tray, because he is trying to make the biggest decision ever for his trucking company. Richardson Trucking Company was at a turning point of growth and Lawrence had to decide if signing with a factoring company was the right way forward.

 

Lawrence�s father had started as an owner-operator and had grown Richardson 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 Lawrence�s mother strapped herself into a cab to make hauls. His father had worked long enough to see the price of hires drop dramatically during the recession and to see the explosion of fuel prices afterwards. Now the company was solely in Lawrence�s hands and he wanted to live to see it in better shape for his sons.

 

There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. He had employees to pay. They all have families and the usual household bills. 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. Every time he had to turn down a request, Richardson Trucking looked weak in a very strong market.

 

His father would have told him to wait and to take his time adding on new technology. Lawrence allowed himself a good hard chuckle. His father had been against placing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. He knew his father's days were long gone and new technology was very important for the business, like having Qualcomm to reduce communication time for bills of lading.

 

Lawrence believed a successful man is always thinking of his next step. What would be the next step for Richardson Trucking? And how would he be able to 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? If he was being honest, he did not really understand how it all worked. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Now it was time for Lawrence to do his homework. Lawrence 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. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

However, it all turned out to be very simple. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He was quite happy to sign an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. 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.

 

It was really refreshing dealing with the factoring people. 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. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Lawrence because he and his father had created a very strong and loyal list of clientele over the years. 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 Richardson 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, Lawrence 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. He suddenly realized that, with this new cash flow, he could actually expand Richardson Trucking Company and who knows, move into Canada, which had always been his dream. His heart felt full knowing his sons wouldn�t have to worry about money because of the right decisions he had made for their trucking business.

 

"

 

 

 

 

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Trucking Factoring  Articles

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�So It is not a loan?� Ron Alexander asked as he leaned back in his chair, crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she stated.Ron was the owner of a small trucking company which had fallen on some hard times recently. Trucking could be a profitable business, and for a little under a decade, it had been for David. He named his business Harrison Trucking, named after Roberto and Hector, his two grandfathers. They had both been hardworking men, and had done a lot to make Ron the same.Six months ago disaster struck David's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. The financial security of David'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.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

You could go a month or more before bills were completely paid off. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Ron was an excellent business man, and he certainly hadn't done anything wrong. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.And that's why he found himself across the desk from this woman. Her name was Pearl and she worked for a factoring company. Ron had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.Pearl 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.Ron agreed. It sounded perfect - perhaps too good?.The woman laughed. �You look like you don�t 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.�Pearl nodded. �We get that a lot. Listen, I�d hate to see you lose your company. You work hard, you�ve put everything you can into it. We all need help sometimes. That�s what we�re here for.""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,� said Pearl with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Ron filled the form out, with Pearl available to help him if he needed it. The completed profile gave Pearl and her company all the information they needed on David'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 Ron completed his form, Pearl listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Pearl took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook David's hand. He also stood up, and they smiled at each other. Ron walked Pearl to the door where they said 'Goodbye', then he went back into 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 leaned back and closed his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. But now, after speaking to Pearl and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off 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 knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. 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.His mind wandered back to the very beginning, when he first started his business. At twenty-two and straight out of school he had opened a restaurant. It had been successful. Offering home cooking in his own hometown, his business had really prospered.But it wasn't what he really wanted to do. His passion didn�t lie with the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took six months off, and during that time he decided to create Harrison Trucking. And that's exactly what he did. Once again he built a company from the ground up. He had been successful.And then the trucks went down, and his success looked to be in flux. He was about to turn fifty. He didn�t think he had it in him, to save this company. But he couldn�t give up. Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He didn�t know how to say quit.And now, because of factoring, he was sure he wouldn�t have to. David's eyes opened, he sat forward in his chair and turned on his computer. He had lots to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

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More Trucking Factoring Company Story Articles

Precisely why Trucking Firms Utilize Factoring Companies.

 

As the operator of your own business enterprise, you may well be more than aware already of the hardship in making certain that cash flow matters do not become a dilemma down the line. Anyway, the worst thing that can possibly transpire for your enterprise is to find yourself dragged in a long and troublesome circumstance that leaves you forever looking for the finances you are in need of on an on-going manner.

 

For virtually any establishment in this case, the concern can come for waiting for work to lapse and actually be settled into your statement. Bill of sales, checks, and the like could take a long time to actually to beprocessed which can leave you with momentary cash flow difficulties. Thankfully, there are options out there for enterprises to investigate-- and among these is factoring agencies.

 

Factoring companies will, in exchange for your accounts, give you with the finances right away so you do not have to worry about the waiting time frame that could make paying out the expenses and acquiring materialsmore challenging. With this form of system, invoice factoring can end up being tremendously valuable for lots of enterprises who ought to get out of a cash pitfall which they have found themselves in.

 

Given that, basing on the volume of the job, it can take up to 60 days for some establishments to get paid then it is essential to blanket your own back and definitely not leave yourself funds short to pay off the costs. After all, how many enterprises possess two months revenue just lying there to deal with all their expenses till they get paid?

 

This is primarily true of truck establishments. They generally deal with lots of accounts which means a huge amount of collection period entails business owner themselves. Attempting to get paid out promptly can eventually become an unbelievable difficulty and this is precisely why you employ truck factoring companies who are happy to help out truckers exclusively.

 

As we all determine, trucking is an amazingly large market with plenty of firms out there working with hundreds of operators. The sad thing is, plenty of these drivers wind up in money problems because they are still expecting work from six weeks back to actually pay them. When this is the scenario for a trucking firm, resorting to factoring providers for aid might be the ideal alternative left.

 

This indicates that a trucking business can pay out the wages of the workers, keep all the trucks refilled with fuel and continue to go up, thrive and expand without consistently waiting for the finances which is taking too prolonged to come in. Trucking Companies functioning without a factoring system applied are leaving themselves at significant danger, as competitions cash out promptly and go on to expand.

 

There's honestly nothing to be distressed about when it comes to utilizing a Factoring contractor-- they typically are not like a banking company or a person who is going to leave you with a considerable mass of debt to repay. You give them genuine invoices from job you have already finished , you are only expediting the payment system.

 

In the Usa, where trucking firms develop, factoring providers are not considered getting a loan in any capacity. This confidential contract then enables both groups to benefit and take pleasure in a convenient future-- it provides the factoring firm a guaranteed asset of cash flow to put into the list and it gives the trucking firm the needed funds that they sweated to earn.

 

The trucking enterprise bestows their statements to the factoring establishment. The trucking factoring company then take the installment payments from the trucking company's clients. Factoring has been all around for hundreds of years and has been used for decades by many different fields-- but none more so than truckers. While you could lose out on a small part of the money, something like 1-3 % depending upon who you work with, it means that you are acquiring the finances today and can actually begin setting the money to function.

 

Anyway, an IOU or an invoice is absolutely not going to fund expenditures, is it? For trucking companies when the finances can be excellent one day and gone the next, it is up to the vehicle drivers to work sensibly and to make sure that they are leaving themselves with a notable measure of time and finance to get through the week until they are paid once again.

 

So the next moment your trucking business is enduring some momentary capital concerns and you are investing excessive time chasing inactive paying clienteles, why not start considering using a factoring companies as a manner to get your cash and give yourself a more comfortable future in the eyes of your trucking workers and your bank dividend?

 

 

 

 

 

 

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Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. While these loans are handy they are not available to every business. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

What Are 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 finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared 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.

 

What Are The Benefits Of A Trucking Factoring Company Versus A Traditional Bank Loan?

 

Not every business can benefit from Trucking Factoring account financing because you have to have a business with accounts receivable, however there are many benefits for those who can access this type of finance.

 

1. There is no debt. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. 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. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets 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. 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. Receive Your 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.Interest is Paid Up Front. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you do not have to continue to pay interest as they take it right off the top, deducting it from the total amount of accounts receivable. So you do not have to worry about monthly loan repayments, and you do not have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. 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.

 

In addition, since the Trucking Factoring company evaluates the credit quality of your customers prior to purchasing the accounts receivable you gain valuable information into which customers are likely to pay and which ones are not so likely to pay.A Trucking Factoring company is not the only method of gaining access to finance for the running and growing of your business, however it does offer a financing option well worth considering.

 

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