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Free Book Tells You 12 Secrets of Better Cash Flow - Our Trucking Factoring Company Can Give
Your Freight Company The Money Your Company Needs

factorinvoices.org

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factoring trucking receivables

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factoring trucking receivables

Trucking Factoring is helpful for a number of factors. It enables a trucking company to raise money without acquiring brand-new financial obligation. While debt is sometimes essential, the majority of freight broker firm would prefer to raise money without borrowing money. Financial obligation is high-risk, and when it cannot be repaid, possessions can be repossessed. If the debt is big enough, it might even require a truck companies out of business.

 

 

 

 

 

 

 

Little Cash Flow Leaks That Keep Companies Poor - Select A Freight�Invoice Factoring Company  Instead Of A Traditional Bank Funding

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

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

Money flow does not have to be a problem any more. Do not be deceived -- banks are not the only places you can get financing. Other solutions are offered and you do not have to borrow. Exactly what is truck factoring ? One option is called truck factoring. Truck Factoring is the procedure of offering invoices to an investor rather than waiting to gather the cash from the customer. Oh, the Irony- Truck factoring has an ironic difference: It is the financial backbone of numerous of America's most successful companies. Why is this ironic ? Since receivable funding is not instructed in business colleges, is seldom mentioned in company strategies and is relatively unknown to the majority of most of American business individuals.

Yet it is a monetary procedure that releases up billions of dollars every year, enabling countless companies to grow and prosper. Receivable Financing has actually been around for countless years. Staffing Factoring Companies are investors who pay money for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your customer has to pay in the near future. Factoring Principals--Although factoring deals solely with business-to-business deals, a large percentage of the retail business uses a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail deals. Utilizing the purest definition of the word, these big customer finance business are truly simply large Accounts Receivable Factoring Companies of customer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The shop makes money practically immediately, even though you do not make payment up until you are ready.

For this service, the credit card business charges Sears a fee (typical common normal fees vary from 2 to 4 percent of the sale). The Advantages Receivable Funding can offer many advantages to cash-hungry business. 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 price cut off the amount of the invoice. Payroll, marketing efforts, and working capital are just a few of the business needs that can be satisfied with instant  money.

Receivable Loan Funding provides the ways for a manufacturer to renew stock and make more items to sell: There is no longer a requirement to await for earlier sales to be paid. FACTORING is not just a cash management device for manufacturers: Practically any kind company can take advantage of Factoring. Typically, a business that extends credit will have 10 to 20 percent of its yearly sales bound in accounts receivable 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 bill or today s payroll with a client s invoice, but you can sell that invoice for the money to meet those obligations. Using trucking factoring companies is a fast and simple procedure. The factoring company buys the invoice at a discount, typically a few portion points less than the face value of the invoice.

 

 

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The U.s. Truck Association
mentions that there are about
200,000 workers with freight trucking
companies and
300,000 personal companies trucking
firms certified to
operate in the United States that carried,
according to their most current searchings for billions of
products, materials and
basic materials .
There are several typical
providers either going solo or in
groups on our country
highways transferring these
vital products to our
stores, factories and harbors.

Also freight bill factoring
businesses help
numerous of them and offer their
receivables financing facilities
nationallyincluding
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

 

North Las Vegas is a city in Clark County, Nevada, United States, located in the Las Vegas Valley. The city was incorporated on May 16, 1946. It is near the city of Las Vegas, and is the fourth largest city in the state of Nevada. Due to its name and geographic location, North Las Vegas is often grouped with Las Vegas proper and is considered part of the Las Vegas-Paradise statistical metropolitan area.The City of North Las Vegas is proud of its longstanding tradition of maintaining a business-friendly atmosphere. Despite difficult economic conditions nationwide, North Las Vegas is paving the way to become a premier site for green sustainable industries and high-tech businesses. The city also fosters a positive environment for new small businesses and entrepreneurial endeavors. The city continues to see growth among home-based businesses and independent start .North Las Vegas has a wealth of resources for existing and prospective businesses, including strong community partnerships with agencies, such as the newly formed Las Vegas Regional Economic Development Council and the Las Vegas Metro Chamber of Commerce.North Las Vegas also boasts proximity to major transportation corridors, railways and two airports. This gives North Las Vegas businesses easy access to large and growing markets across the Western United States, including California, Arizona and Utah. Its master-planned communities, including Eldorado and Aliante, provide a variety of quality homes and amenities that allow people to live comfortably and conveniently near where they work. The Apex industrial Park is now a part of the city.Labor and workforce: Traditionally, manufacturing and warehouse distribution companies have dominated the local market. However, high-tech businesses, including leaders in solar and green technology, and custom manufacturing facilities are moving to North Las Vegas in greater numbers. New power centers and neighborhood shopping centers present commercial services jobs, while the nearby Nellis Air Force Base, casinos and hotels continue to offer excellent career opportunities.

 

 

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

 

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.

 

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

 

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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

 

Click below to find Trucking Companies in the United States:

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

 

"

Since the mid 1980s Moore Truck & Haul have been successfully running their freight business. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the heady times from 2002 to 2007, Moore 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. The money was flowing, and times were great.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

 

. Worse still, it was noticed by Moore in early 2008 that even though most of their loyal customers were on time with their payments, there were a few late bloomers who were starting to spread the disease. Spring changed to summer, summer changed to fall, and the CEO of Moore, Joseph Reed, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The numbers of clients who owed him back debt were growing.He had gone to his administrators and asked them what the problem had been. 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. 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 Moore money had jumped ship and decided to leave him holding the bag.

 

. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. The had just gone!.To Joseph Reed the situation looked desperate. Joseph was very concerned, because there were constant overheads, goods to ship, employees to pay, and trucks which needed to be maintained, but there just wasn't the money coming back into the business. In the evenings he would discuss his concerns with his wife, Margaret, and still find no relief from the worry and frustration.

 

""I have a bad feeling, Lin,"" he would say with deep woe.""Well, what do you think it is?"" she would ask.Joseph would stare off for a moment and then close 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,"" said Joseph. ""I've relied too long on the profits I receive from invoices alone. I've let too many of our customers go too long without paying on their bills."" Margaret would look at her husband lovingly, and holding his hand would say 'it is such a harsh economy these days and our clients must be having difficulty meeting their responsibilities'.""Joseph knew very well that Margaret 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 Joseph walked into his office with a spring in his step, determined to call each and every client who owed money to Moore Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Joseph 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 Joseph was realising just how much trouble he was in.Poor Joseph 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.

 

""Joseph, can I have a word?"" she queried, standing in the doorway.

 

""Of course Leah, please come in."" Joseph relaxed back into his chair and looked up at Leaherley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Joseph."" 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?"" Leaherley asked.""It does sound vaguely familiar. What is factoring""? he asked.""Well,"" she began, ""It�s actually quite simple really.

 

Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Joseph interrupted ""Immediately?"".""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. 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 provides a very broad view.""Joseph replied cautiously ""I see - and what happens then?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

This company tells us what the cost will be to purchase factoring for our accounts receivable. Once we arrive at a mutual agreement, the funding begins.�Joseph was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""I do not know, Leah - it just sounds too good to be true"", Joseph said quietly.""Now, now, I know, I thought the same thing. But think about it, Joseph: 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, Joseph,"" she underlined a paragraph on the paper before him.""Just how flexible?"" asked Joseph.""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. Apparently they can figure this all out in two to four days.

 

""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" said Joseph.He took a deep breath and looked at his secretary with something she recognized as hope.""Exactly�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Joseph 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 Moore. Just because they were experiencing difficulties paying their own bills now, Joseph was very concerned about losing these relationships. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. Of course he did not want to lose any more money, but he did not want to lose business either.""Well, let me think about this tonight Leah, thank you."" Leah stood up and left Joseph's office, with the nice feeling of knowing that she may just have solved a very serious problem.Joseph 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 Moore 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. Joseph 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 Sean about this,"" Joseph muttered to himself.Sean is Joseph's son-in-law, and he really admired the ideas behind Moore, so much so that only two years before he had started his own transportation service business. At that time Joseph knew the struggles Sean would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Moore was hurting, a little guy like Sean was about to catch his death. Perhaps the antidote to these problems was in freight factoring, and they were about to find out.Some months later, having successfully gone through the entire process of the application, having experts study his credit history and statements and review his accounts receivable, Joseph found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.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. Joseph recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

North Las Vegas is a city in Clark County, Nevada, United States, located in the Las Vegas Valley. The city was incorporated on May 16, 1946. It is near the city of Las Vegas, and is the fourth largest city in the state of Nevada. Due to its name and geographic location, North Las Vegas is often grouped with Las Vegas proper and is considered part of the Las Vegas-Paradise statistical metropolitan area.The City of North Las Vegas is proud of its longstanding tradition of maintaining a business-friendly atmosphere. Despite difficult economic conditions nationwide, North Las Vegas is paving the way to become a premier site for green sustainable industries and high-tech businesses. The city also fosters a positive environment for new small businesses and entrepreneurial endeavors. The city continues to see growth among home-based businesses and independent start .North Las Vegas has a wealth of resources for existing and prospective businesses, including strong community partnerships with agencies, such as the newly formed Las Vegas Regional Economic Development Council and the Las Vegas Metro Chamber of Commerce.North Las Vegas also boasts proximity to major transportation corridors, railways and two airports. This gives North Las Vegas businesses easy access to large and growing markets across the Western United States, including California, Arizona and Utah. Its master-planned communities, including Eldorado and Aliante, provide a variety of quality homes and amenities that allow people to live comfortably and conveniently near where they work. The Apex industrial Park is now a part of the city.Labor and workforce: Traditionally, manufacturing and warehouse distribution companies have dominated the local market. However, high-tech businesses, including leaders in solar and green technology, and custom manufacturing facilities are moving to North Las Vegas in greater numbers. New power centers and neighborhood shopping centers present commercial services jobs, while the nearby Nellis Air Force Base, casinos and hotels continue to offer excellent career opportunities.

 

 

More Trucking Factoring Companies Story Articles

"

The Future of a Trucking Company, and Factoring Peter Roberts 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. Roberts Trucking Company had reached a turning point and he now had to make a decision as to whether he should sign up with a factoring company, and indeed if this would be a good or regrettable decision for his business.

 

More than forty years ago Peter's father had started this business working as an owner-operator and eventually growing Roberts Trucking Company into a fifteen trailer fleet. There had been some hard times when it seemed everything was going to go under and even Peter�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. But now things were different: the company was in Peter's hands and he needed to ensure that this business would be left in great 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. His employees needed to be paid. They all have families and the usual household bills. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. He knew that turning down these requests made Roberts Trucking look inefficient and weak in what was currently a strong market.

 

His father would have told him to wait and to take his time adding on new technology. Peter 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?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). His father days were long gone and technology was actually an important improvement for the business such as having Qualcomm to cut down on fruitless time communicating on the phone for bills of lading.

 

Peter knew he was right in his forward thinking. How would he take Roberts Trucking to the next level? 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. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

He wondered about factoring - was this the answer for him? 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. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Now it was time for Peter to do his homework. Peter 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 friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

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

 

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. Factoring was based on the credit of his customers and on their reliability which worked well for Peter because he and his father had built up good strong relationships over decades with their list of clients. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients wouldn�t think poorly of Roberts 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.

 

Feeling happier now, Peter 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 Roberts Trucking Company and who knows, move into Canada, which had always been his dream. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

"

 

 

Watch Our Truck Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� Paul Jenkins asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Paul smiled at him, shaking her head.�No, not exactly,� she stated.Paul Jenkins owned a small trucking company, and his business had recently fallen on difficult times. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Joe. He named his business Brewer Trucking, named after Timothy and Keith, his two grandfathers. Both of these men had been very hardworking and had set a great example for Joe.Disaster had struck half a year ago, when two trucks in Joe�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. The financial security of Joe'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.

 

Waiting a month or longer for bills to be paid was quite normal. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Paul wasn�t a bad owner, and he hadn�t messed up. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.That�s where the woman across the desk came in. Her name was Kimberly and she worked for a factoring company. He had accidentally come across her company one night when he was working late, searching the internet to see if there was some solution to his financial dilemma.She sat there now, and explained. �it is really not a loan at all: we actually buy your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. 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.Paul nodded. It sounded perfect - perhaps too good?.Kimberly laughed. �I'm not sure that you believe me,� she chuckled.�Oh no, I do: it just sounds too good to be true. I actually thought I might end up losing my business.�Kimberly smiled, agreeing. �Yes, we get a lot of that. Listen, I�d hate to see you lose your company. You work hard, you�ve put everything you can into it. Sometimes you need help. That's why we do what we do.""Well, I'm very grateful that you came to see me today.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Kimberly with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.

 

Paul filled the form out, with Kimberly available to help him if he needed it. The completed profile gave Kimberly and her company all the information they needed on Joe'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. Listening as Paul filled out his form, Kimberly was pretty sure he was a perfect candidate for factoring.When the form was done Kimberly took it and slid it into her briefcase. She then stood, reached across the desk and shook Joe�s hand. He stood before they shook as well, and then smiled. They said their goodbyes and Paul walked her to the door, and then returned to his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He 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 Kimberly and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.All those long, sleepless nights. The terrifying panic attacks that occurred regardless of where he was. Already he could feel all the stress start to drain away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.Paul couldn�t help but think back to when he had first started the 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 long and hard, and then he decided to sell the restaurant. He took six months off, and during that time he decided to create Brewer 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.And then the trucks went down, and his success looked to be in flux. He was nearing fifty. He didn�t think he had it in him, to save this company. But he couldn�t give up. The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He didn�t know how to say quit.And now, because of factoring, he was sure he wouldn�t have to. Paul opened his eyes, sat forward, turned his computer on. 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 Truck Corporations Work with Factoring Firms.

 

As the manager of your own establishment, you may well be more than perceptive already of the challenge in making certain that cash flow issues do not become a difficulty down the line. After all, the most horrible thing that can in all probability occur for your business is to find yourself swept up in a long and complicated condition that leaves you forever trying to find the cash you necessitate on an continual manner.

 

For any sort of enterprise in this predicament, the problem can come for waiting for work to lapse and actually be paid into your statement. Bill of sales, checks, and the like could take some time to actually to beprocessed which can easily leave you with short-term capital difficulties. Luckily, there are solutions out there for businesses to check out-- and among these is factoring companies.

 

Factoring providers will, in trade for your invoices, offer you with the finances now to ensure you do not have to fret about the waiting period that could make paying off the bills and acquiring toolsmore hard. With this form of arrangement, invoice factoring can come to be extremely valuable for lots of companies who ought to avoid a cash pitfall which they have discovered themselves in.

 

Considering that, depending upon the scale of the task, it can take up to 60 days for several enterprises to get paid out then it is crucial to take care of your own back and not leave yourself funds short to pay off the bills. After all, how many business enterprises have two months cash flow just lying there to deal with all their spendings until they earn?

 

This is particularly correct of truck establishments. They often deal with bunches of statements which means a notable volume of collection period demands business owner themselves. Attempting to get paid in time can eventually become an unbelievable trouble and this is exactly why you utilize trucking factoring agencies who are pleased to help out truckers mainly.

 

As all of us know, trucking is an exceptionally big industry with lots of agencies out there working with hundreds of operators. Regretfully, quite a few of these drivers wind up in income problems given that they are still waiting for work from six weeks in the past to actually pay them. When this is the scenario for a truck company, depending on factoring firms for assistance maybe the ideal alternative left.

 

This indicates that a truck corporation can compensate the salaries of the staff, keep all the trucks filled with fuel and continue to scale, rise and expand without consistently waiting for the resources which is taking too lengthy to come in. Trucking Enterprises working without a factoring system established are leaving themselves at considerable hazard, as competitions cash out fast and proceed to grow.

 

There's genuinely nothing at all to be distressed about when it comes to using a Factoring firm-- they usually are not like a banking company or any individual who is going to leave you with a big mound of debt to pay back. You give them genuine invoices from output you have already accomplished , you are only facilitating the repayment system.

 

In the Usa, where truck enterprises survive, factoring agencies are not considered accepting loan of in any capacity. This private arrangement then lets both groups to profit and take joy in a worry-free future-- it provides the factoring business a guaranteed asset of money to add to the list and it offers the trucking company the required cash that they worked hard to get.

 

The trucking enterprise presents their invoices to the factoring establishment. The trucking factoring business then receive the installment payments from the trucking company's clients. Factoring has been all around for hundreds of years and has been used for long times by several different industries-- but none exceeding so than truckers. While you may well miss 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 setting the resources to operate.

 

Once and for all, an IOU or an invoice is certainly not going to fund spendings, is it? For trucking firms when the hard earned cash can be fantastic one day and gone the next, it is up to the drivers to work sensibly and to ensure they are leaving themselves with a notable measure of time and money to get through the week up until they are handed over once again.

 

So the next period your trucking establishment is enduring some short-term capital concerns and you are devoting too much time chasing inactive paying clienteles, why not start thinking about utilizing a factoring companies as a way to get your finances and give yourself a more at ease future in the eyes of your trucking crew and your bank difference?

 

 

 

 

 

 

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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. 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.

 

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. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. 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. 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. 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. No Collateral Required. Another great benefit of using the services of a Trucking Factoring company instead of a bank loan is that there is no collateral required for the Trucking Factoring company, because the Trucking Factoring company is buying your accounts receivables. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

3. You'll receive the money faster. With a Trucking Factoring company you can actually get the money you need faster. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.

 

4.You receive interest up-front. With a bank loan interest continues to build, and this has to be paid the whole time you have a business loan; however with a Trucking Factoring company there is no interest - they take it right off the top by deducting it from the total amount of receivable accounts. So 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, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a bank. The most important benefits is that once you sell your accounts receivable to the factory company, you do not have to take time away from running your business to collect the money owed from reluctant to pay customers. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing 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

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