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The Instrument of Profitable Companies - Our Receivable Financing Company Can Give
Your Freight Company The Cash You Want

businessfinanceresource.org

trucking invoice factoring companies

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Medium-Size truck companies, particularly those who have not been in existence for really long, will often discover it tough to secure a loan. Banks are frequently reluctant to lend cash to companies that do not have a great deal of earnings and possessions. They likewise want proof of the viability of a company and thus require that many operations, particularly small ones, be in business for a certain amount of time before they are prepared to hand over any money. Since of this, a small business frequently has few cash creating options when requires occur. One alternative offered, however commonly overlooked, is invoice factoring. This is an excellent method for a medium-size business to acquire money

 

 

 

 

 

 

 

How Much is Your Cash Flow "Tension" Costing Your Company - Pick A Freight�Invoice Factoring Company  Instead Of A Regular Bank Funding

How to Increase Money Flow Without Borrowing -Cash Money flow is among the primary reasons companies fail.

At one time or another, every company, even effective ones, have experienced bad money flow.

Money flow does not have to be an issue any 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 money. What is trucking factoring ? One option is called truck factoring. Truck Factoring is the procedure of selling invoices to an investor rather than waiting to collect the money from the customer. Oh, the Irony- Trucking factoring has an ironic difference: It is the financial foundation of many of America's most successful businesses. Why is this paradoxical ? Because staffing factoring is not instructed in business colleges, is seldom mentioned in business plans and is relatively unidentified to bulk of most of American company people.

Yet it is a financial procedure that frees billions of dollars every year, allowing countless companies to grow and succeed. Staffing Factoring has been around for thousands of years. Staffing Factoring Businesses are financiers who pay money for the right to get the future payments on your invoices. An unpaid 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 transactions, a large percentage of the retail company utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a type of factoring in their retail transactions. Utilizing the purest definition of the word, these large customer finance business are really simply large Receivable Loan Financing Companies of consumer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The store makes money almost instantly, even though you do not pay until you are prepared.

For this service, the charge card company charges Sears a fee (typical common normal charges vary from 2 to 4 percent of the sale). The Benefits Receivable Funding can offer many benefits to cash-hungry companies. Rather than wait 30, 60, 90 days or longer for payment on a product that has currently been delivered, a business can factor (sell) its receivables for money at a little discount off the amount of the invoice. Payroll, marketing efforts, and working capital are just a few of the business requirements that can be met with instant  cash.

Factoring provides the means for a producer to replenish stock and make more items to sell: There is no longer a need to await for earlier sales to be paid. Receivable Loan Financing is not simply a money management tool for manufacturers: Almost any type company can benefit from Staffing Factoring. Typically, a business that extends credit will have 10 to 20 percent of its annual sales tied up in invoices at any given time. Think for a minute about exactly how much is tied up in 60 days' worth of invoices: You can not pay the power expense or this week s payroll with a client s invoice, however you can sell that invoice for the cash to satisfy those responsibilities. Using trucking factoring companies is a quick and simple process. The factor purchases the invoice at a price cut, typically a few percentage points less than the stated value of the invoice.

 

 

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henderson-factoring-companies

 

The United states Transportation Organization
mentions that there around
200,000 employees with truck
firms and
300,000 private service providers trucking
firms accredited to
run in the U.S. that transported,
according to their most current listings of millions of
items, supplies and
standard materials .
There are several common
carriers either going solo or in
teams on our nation
roads carrying these
crucial items to our
shops, factories and shipping ports.

Furthermore freight invoice factoring
corporations aid
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

 

"

City (1990 pop. 64,942), Clark co., SE Nev., in a desert area overlooking Las Vegas and surrounded by mountains; inc. 1953. Limestone is produced and plastic and metal products, foods, transportation equipment, and chemicals are manufactured. Henderson is a center for defense-related industries, specializing in large-volume chemical manufacturing. Hydroelectric power is supplied by Hoover Dam. The city was founded (1942) to provide houses for employees of a magnesium plant. The Southern Nevada Museum is there. Nearby Mt. Charleston and Lake Mead offer recreational activities.Henderson, officially the City of Henderson, is a city in Clark County, Nevada. It is the second largest city in Nevada, after Las Vegas, with an estimated population of 265,679 in 2012. The city is part of the Las Vegas metropolitan area, which spans the entire Las Vegas Valley. Henderson occupies the southeastern end of the valley, at an elevation of approximately 1,330 feet (410 m).In 2011, magazine ranked Henderson as America's second safest city. Analysts attribute this to Henderson being an affluent city, with a high median income and amenities catering to local residents. Henderson has also been named as ""One of the Best Cities to Live in America"" by . In 2014, Henderson was again ranked as one of the Top 10 ""Safest Cities in the United St ates"", by the FBI Uniform Crime Report.Henderson, officially the City of Henderson, is a city in Clark County, Nevada. It is the second largest city in Nevada, after Las Vegas, with an estimated population of 265,679 in 2012. The city is part of the Las Vegas metropolitan area, which spans the entire Las Vegas Valley. Henderson occupies the southeastern end of the valley, at an elevation of approximately 1,330 feet (410 m).In 2011, magazine ranked Henderson as America's second safest city. Analysts attribute this to Henderson being an affluent city, with a high median income and amenities catering to local residents. Henderson has also been named as ""One of the Best Cities to Live in America"" by . In 2014, Henderson was again ranked as one of the Top 10 ""Safest Cities in the United States"", by the FBI Uniform Crime Report.[

 

"

 

Watch Our Trucking Factoring YouTube Videos For More Information

 

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

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

 

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.

 

The largest trucking companies in the U.S. set a revenue record in 2013, but revenuegrowth slowed for the second year in a row.

The combined revenue of the 50 largest motor carriers rose to $106.6 billion last year, according to The Top 50 Trucking Companies list, based on data prepared by Consulting Group in Pittsburgh.

 

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

 

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.

 

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

 

 

"

Since the mid 1980s Wallace Truck & Haul have been successfully running their freight business. 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 boom times from 2002 to 2007 Wallace Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. Times were great for everyone, and the cash was flowing.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed to a crawl

 

. And worse yet, Wallace 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, Stanley Webb, CEO of Wallace felt a chill go down his spine whenever he would look at the weekly A/R reports. The number of clients who were late in their payments was continuing to grow.He had already been to the administrators to ask what the actual problem was. Were they doing things different, or wrong, when it came to collecting overdue accounts? When checking his bookkeeper's records this was definitely not 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 Wallace 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. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Wallace hadn't gone elsewhere. They had just gone home.The situation looked dire to Stanley Webb. 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, Connie, and neither were unable to stop the constant worry over the lack of funds.""I have a bad feeling, Lin,"" he would say with deep woe.""Well, what do you think it is?"" she would ask.Stanley would stare off into the distance, and then slowly close his eyes. He could see the fleet of trucks he had purchased over the years. He could see them traveling, bringing goods to all of his clients. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but 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,"" Stanley 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."" All Connie could do was hold his hand and look at him tenderly. 'We know it is a difficult economy at the moment - perhaps it will take a while for people to get on top of their bills'.""Stanley knew very well that Connie 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 next day Stanley strolled into his office and was determined to sit down and make every phone call to every client who had owed Wallace money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Stanley 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. A waste of time - a waste of money - he had the best intentions, but all the while Stanley was realising just how much trouble he was in.After a half day of contacting debtors in vain - they dodged his calls or promised to call back at worst or made minimal interest-only payments at best - he was about to throw in the towel when his secretary Bessieerley knocked at his door.

 

""Can I have a word with you Stanley?"" she asked standing in the doorway.

 

""Sure thing Bessie, come on in."" Stanley leaned back in his chair and looked expectantly at Bessieerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Stanley."" 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?"" Bessieerley asked.""It does sound vaguely familiar. What is it?"" he said.""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?"" Stanley interrupted.""Yes, immediately,"" she continued, ""it is actually very simple. We start by having a professional account manager review our figures and help us set up 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.""Stanley 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. There�s a lot of flexibility depending on the business volume and credit histories. This company tells us what the cost will be to purchase factoring for our accounts receivable. The funding commences once we�ve arrived at an agreement.�Leaning forward, Stanley studied the documents very closely.""It sounds too good to be true, Bessie,"" he said.""Now, now, I know, I thought the same thing. But think about it, Stanley: 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. They appear to be very flexible, Stanley,"" she drew a circle around a paragraph on the document before him.""How flexible?"" asked Stanley.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. It only takes 2 to 4 days for this to be figured out. ""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. 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 Stanley.Stanley took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Precisely�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Stanley took a moment to think about this solution, and agreed with his secretary. The clients who owed them money were long standing friends and professional resources of Wallace. Stanley wasn't prepared to lose these relationships just because they were having financial issues at the moment. Stanley knew only too well that the whole economy was floundering, and that it was not going to change overnight. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. He did not want to lose business but he also did not want to lose any more money.""Let me go over this tonight Bessie, and thankyou."" Bessie stood up and left Stanley's office, with the nice feeling of knowing that she may just have solved a very serious problem.Stanley sat behind his desk and looked over the details Bessie had not mentioned in their meeting. What other issues could freight factoring help Wallace 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. Stanley was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Stanley was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""I must tell Lewis the good news,"" muttered Stanley to himself.Stanley's son-in-law, Lewis, loved the idea behind Wallace 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 Stanley knew the struggles Lewis would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Wallace was hurting, a little guy like Lewis was about to catch his death. But, an antidote may have been found in freight factoring and Stanley was soon to find out.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Stanley found himself beginning to dig his way out of the hole his delinquent account holders had created for him.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They took that time and refocused effort to offering competitive prices in new territories. Stanley looked back on the dismal months of life before freight factoring and almost shuddered at the thought. He probably wouldn't be in business today had he not learned just in time about freight factoring.

 

"

 

"

City (1990 pop. 64,942), Clark co., SE Nev., in a desert area overlooking Las Vegas and surrounded by mountains; inc. 1953. Limestone is produced and plastic and metal products, foods, transportation equipment, and chemicals are manufactured. Henderson is a center for defense-related industries, specializing in large-volume chemical manufacturing. Hydroelectric power is supplied by Hoover Dam. The city was founded (1942) to provide houses for employees of a magnesium plant. The Southern Nevada Museum is there. Nearby Mt. Charleston and Lake Mead offer recreational activities.Henderson, officially the City of Henderson, is a city in Clark County, Nevada. It is the second largest city in Nevada, after Las Vegas, with an estimated population of 265,679 in 2012. The city is part of the Las Vegas metropolitan area, which spans the entire Las Vegas Valley. Henderson occupies the southeastern end of the valley, at an elevation of approximately 1,330 feet (410 m).In 2011, magazine ranked Henderson as America's second safest city. Analysts attribute this to Henderson being an affluent city, with a high median income and amenities catering to local residents. Henderson has also been named as ""One of the Best Cities to Live in America"" by . In 2014, Henderson was again ranked as one of the Top 10 ""Safest Cities in the United St ates"", by the FBI Uniform Crime Report.Henderson, officially the City of Henderson, is a city in Clark County, Nevada. It is the second largest city in Nevada, after Las Vegas, with an estimated population of 265,679 in 2012. The city is part of the Las Vegas metropolitan area, which spans the entire Las Vegas Valley. Henderson occupies the southeastern end of the valley, at an elevation of approximately 1,330 feet (410 m).In 2011, magazine ranked Henderson as America's second safest city. Analysts attribute this to Henderson being an affluent city, with a high median income and amenities catering to local residents. Henderson has also been named as ""One of the Best Cities to Live in America"" by . In 2014, Henderson was again ranked as one of the Top 10 ""Safest Cities in the United States"", by the FBI Uniform Crime Report.[

 

"

 

More Trucking Factoring Companies Story Articles

"

The Future of a Trucking Company, and Factoring Phillip Patterson let the phone ring on his desk. His morning coffee cooled and his cigarette smoked away in the tray: Phillip is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Patterson Trucking Company was at a turning point of growth and Phillip had to decide if signing with a factoring company was the right way forward.

 

More than forty years ago Phillip's father had started this business working as an owner-operator and eventually growing Patterson Trucking Company into a fifteen trailer fleet. Yes, they had survived some very difficult times when it appeared like they might go under, and even Phillip's mother had jumped into the cab at times 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 Phillip�s hands and he wanted to live to see it in better shape for his sons.

 

To move Patterson 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. Every time he had to turn down a request, Patterson 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. Phillip chuckled, thinking about his father. He remembered when his father was totally against installing 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?� 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). 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.

 

Phillip knew he was right in his forward thinking. What would be the next step for Patterson Trucking? 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. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

But was factoring the answer? There was a lot he didn�t understand about the process. It sounded like a ninth grade math problem and he wondered how this would fit into 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 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 Phillip to do his homework. Phillip 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. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He was quite happy to sign 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. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the 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 was good money.

 

It was really refreshing dealing with the factoring people. They were more personable than those loan managers at the bank. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking 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 Phillip 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 wouldn�t think poorly of Patterson Trucking and the factoring companies appeared capable of handling the accounts receivable in the same polite manner that his father had used over the years.

 

Phillip stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. He suddenly realized that, with this new cash flow, he could actually expand Patterson 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.

 

"

 

 

Watch Our Truck Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So, this is not a loan?� asked Jim Simmons, reclining back into his chair and crossing his legs. The woman sitting across the desk from Jim smiled at him, shaking her head.�Not quite,� she stated.Jim 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 Edgar. He named his business Watkins Trucking, named after Edgarua and Henry, his two grandfathers. Both of these men had been very hardworking and had set a great example for Edgar.Disaster had struck half a year ago, when two trucks in Edgar�s fifteen truck fleet went down. One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. Jim depended on his full fleet, and missing two trucks was 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.Jim 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.That�s where the woman across the desk came in. Jim knew she was employed by a Factoring company and that her name was Gina. Jim 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.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. This is a win-win situation: we are protected from a total loss, and you're protected from the ridiculous fees and charges you'd have to pay if you borrowed from a bank.Jim agreed. It sounded perfect - perhaps too good?.Gina laughed. �I'm not sure that you believe me,� she said.�Oh no, I do: it just sounds too good to be true. I actually thought I might end up losing my business.�Gina nodded. �Yes, we get a lot of that. Listen, I�d hate to see you lose your company. We know how hard you work, and that you've invested everything in your business. We all need help sometimes. That's why we do what we do.""Well, I'm very grateful that you came to see me today.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� Gina said with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Jim completed the form, with Gina offering advice as needed.

 

The completed profile gave Gina and her company all the information they needed on Edgar'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 were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. Listening as Jim filled out his form, Gina was pretty sure he was a perfect candidate for factoring.Gina took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Edgar's hand. He also stood up, and they smiled at each other. Jim walked Gina 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. Talking to Gina though, learning about factoring, it felt like a weight had been lifted from his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.The long nights, where he couldn�t sleep. The sudden panic attacks, not matter 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 there, he was on the right path, and he was working to make things right.His mind wandered back to the very beginning, when he first started his business. He had opened a restaurant at age twenty two when he was fresh out of school. 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 about it for a long time, then decided it was time to sell his restaurant. He took half a year off, and in that time he thought to start Watkins Trucking. So he did it. For the second time in his short life he created a company from the ground up. He had been successful.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. 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 didn�t know how to say quit.And now, because of factoring, he was sure he wouldn�t have to. Jim 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.

 

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More Trucking Factoring Company Story Articles

Reasons why Trucking Establishments Make use of Factoring Companies.

 

As the manager of your own firm, you may be much more than conscious already of the challenge in making certain that capital issues do not become a difficulty down the line. After all, the most disappointing thing that can potentially transpire for your firm is to find yourself embroiled in a long and hard predicament that leaves you forever searching for the cash you require on an continuing manner.

 

For virtually any enterprise in this scenario, the concern can come for waiting for work to clear up and actually be provided into your account. Bill of sales, checks, and the like can take a long time to actually to beprocessed which can certainly leave you with momentary capital dilemmas. Fortunately, there are approaches out there for businesses to consider-- and one of these is factoring providers.

 

Factoring agencies will, in trade for your statements, grant you with the resources today to make sure that you do not have to fret about the delaying phase that could make paying off the expenses and acquiring materialsmore complicated. With this style of system, invoice factoring can become tremendously valuable for numerous firms who need to avoid a money pitfall which they have gotten themselves in.

 

Because, depending upon the scale of the work, it can take up to 60 days for some business enterprises to get compensated then it is crucial to blanket your own back and definitely not leave yourself funds short to pay off the costs. After all, how many businesses possess two months income just occupying there to handle all their overheads till they make money?

 

This is specifically true of truck establishments. They usually deal with tons of accounts which means a substantial quantity of collection time involves business owner themselves. Making an effort to get paid in time can become an extraordinary headache and this is the reason why you utilize trucking factoring agencies who are delighted to help out truckers exclusively.

 

As most of us know, trucking is an amazingly massive industry with many companies out there hiring hundreds of operators. Regretfully, many of these drivers end up in income dilemmas for the reason that they are still expecting work from six weeks in the past to actually compensate them. When this is the scenario for a trucking organization, consulting factoring agencies for help may be the best choice left.

 

This implies that a trucking company can pay out the paychecks of the work force, keep all the cars topped off with gas and continue to scale, thrive and expand without continually waiting for the finances which is taking too prolonged to come in. Trucking Establishments functioning without a factoring program put in place are leaving themselves at critical hazard, as competitions cash out promptly and carry on to develop.

 

There's honestly very little to be stressed about when it comes to working with a Factoring establishment-- they usually are not like a bank or any individual who is going to leave you with a considerable mound of debt to pay back. You give them authentic invoices from job you have already completed , you are just speeding the payment process.

 

In the Usa, where trucking establishments prosper, factoring establishments are not considered accepting loan of in any capacity. This private agreement then lets both groups to benefit and experience a convenient future-- it provides the factoring provider a secured asset of money to add to the list and it offers the trucking firm the needed cash that they sweated to acquire.

 

The trucking firm presents their accounts to the factoring establishment. The trucking factoring business then receive the payment amounts from the trucking company's customers. Factoring has been in existence for hundreds of years and has been utilized for decades by a lot of various fields-- but none exceeding so than truckers. While you could lose out on a small part of the money, something like 1-3 % depending upon who you collaborate with, it signifies that you are acquiring the money today and can actually start off putting the money to operate.

 

Anyway, an IOU or an invoice is not actually going to finance expenditures, is it? For trucking companies when the hard earned cash can be really good one day and gone the next, it is up to the drivers to work prudently and to make sure that they are leaving themselves with a notable measure of time and money to get through the week till they are handed over once again.

 

So the next time your trucking enterprise is bearing some short-term capital concerns and you are investing a bit too much time chasing inactive paying customers, why not start off thinking about making use of a factoring businesses as a means to get your money and give yourself a more at ease future in the eyes of your trucking personnel 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. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. 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 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?

 

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. You will not Incur Debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. 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. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

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. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. 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. Using a Trucking Factoring company means that you'll get the finance quicker. 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. 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 from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a 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. The Trucking Factoring company takes over that chore, since it is now their money to collect. 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.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

 

 

 

 

 

Philadelphia

 

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