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You Can Laugh at Money Worries - if You Follow This Simple Plan - Our Freight Invoice Factoring Company Can Provide
Your Freight Company The Money You Need

businessfinanceresource.org

factoring trucking receivables

trucking factoring companies reviews

trucking factoring company

trucking factoring services

Trucking Factoring is useful for a number of reasons. It enables a truck company to raise money without acquiring brand-new debt. While financial obligation is occasionally needed, most trucking companies would choose to raise money without borrowing money. Financial obligation is dangerous, and when it cannot be paid back, assets can be repossessed. If the financial obligation is large enough, it might even compel a freight broker firm out of business.

 

 

 

 

 

 

 

How To Get More Profit From Your Receivables - Choose The Best Factoring Company Instead Of A Typical Bank Financing

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

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

Money flow does not have to be a problem any ever more. Do not be deceived -- banks are not the only locations you can get funding. Other solutions are available and you do not have to borrow money. What is trucking factoring ? One solution is called truck factoring. Trucking Factoring is the process of offering invoices to a financier instead of waiting to gather the cash from the client. Oh, the Irony- Truck factoring has an ironic distinction: It is the financial foundation of many of America's most successful companies. Why is this ironic ? Since factoring is not taught in business colleges, is rarely mentioned in company plans and is relatively unknown to bulk of most of American business individuals.

Yet it is a monetary procedure that frees billions of dollars every year, allowing countless businesses to grow and succeed. Receivable Funding has been around for countless years. Trucking Factoring Businesses are financiers who pay cash for the right to get the future payments on your invoices. An unpaid receivable or invoice has value. It is a debt your customer has agreed pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business transactions, a large portion of the retail company uses a factoring principal. MasterCard, Visa, and American Express all utilize a type of factoring in their retail deals. Utilizing the purest meaning of the word, these large customer finance companies are really simply large Trucking Factoring Businesses of consumer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The shop makes money practically instantly, although you do not pay up until you are prepared.

For this service, the charge card business charges Sears a fee (typical common normal charges vary from 2 to four percent of the sale). The Advantages Accounts Receivable Factoring can offer numerous benefits to cash-hungry business. Instead of waiting 30, 60, 90 days or longer for payment on an item that has actually already been delivered, a business can factor (sell) its receivables for cash at a little discount off the amount of the invoice. Payroll, marketing efforts, and working capital are just a few of the company needs that can be met with instant  cash.

Truck Factoring provides the means for a producer to replenish inventory and make even more products to sell: There is no longer a need to await for earlier sales to be paid. Receivable Loan Financing is not just a money management device for producers: Practically any type business can benefit from Receivable Loan Funding. Typically, a company that extends credit will have 10 to 20 percent of its yearly 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 bill or this week s payroll with a customer s invoice, but you can offer that invoice for the cash to satisfy those responsibilities. Using truck factoring companies is a quick and simple procedure. The factor purchases the invoice at a price cut, typically a couple of percentage points less than the face value of the invoice.

 

 

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The U.s. Truck Association
specifies that there are about
195,000 work with freight trucking
companies and
300,000 private providers trucking
firms certified to
operate in the United States that transferred,
according to their latest data of millions
products, supplies and
fundamental products .
There are several typical
providers either going solo or in
teams on our nation
highways transporting these
vital items to our
stores, factories and harbors.

Moreover truck factoring
firms help
countless 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

 

"

Lincoln is the capital and the second-most populous city of the State of Nebraska, after Omaha. Lincoln is also the county seat of Lancaster County and the home of the University of Nebraska. Lincoln's population in 2013 was estimated at 268,738.Lincoln was founded in 1856 as the village of Lancaster, and became the county seat of the newly created Lancaster County in 1859. The capital of Nebraska Territory had been Omaha since the creation of the territory in 1854; however, most of the territory's population lived south of the Platte River. After much of the territory south of the Platte considered annexation to Kansas, the legislature voted to move the capital south of the river and as far west as possible. The village of Lancaster was chosen, in part due to the salt flats and marshes.Omaha interests attempted to derail the move by having Lancaster renamed after the recently assassinated President Abraham Lincoln. Many of the people south of the river had been sympathetic to the Confederate cause in the recently concluded Civil War, and it was assumed that the legislature would not pass the measure if the future capital were named after Abraham Lincoln. The choice to name the capital city ""Lincoln"" caused quite a stir among the constituents, whose sentiments were mixed regarding who should have won the Civil War.Lincoln topped the CDC list of healthiest U.S. cities in 2008, and in 2013, was #1 on the -Healthways list of ""Happiest & Healthiest"" cities.Lincoln's economy is fairly typical of a mid-sized American city; most economic activity is derived from service industries. Government and the University of Nebraska-Lincoln are both large contributors to the local economy. Other prominent industries in Lincoln include finance, insurance, publishing, manufacturing, pharmaceutical, telecommunications, railroads, medical, information technology, education and truck transport. For June 2014, Lincoln's preliminary unemployment rate was 3.2% (not seasonally adjusted).One of the largest employers is the System, which consists of two major hospitals and several large outpatient facilities located across the city. Healthcare and medical jobs account for a substantial portion of Lincoln's employment: as of 2009, full-time healthcare employees in the city included 9,010 healthcare practitioners in technical occupations, 4,610 workers in healthcare support positions, 780 licensed and vocational nurses, and 150 medical and clinical laboratory technicians.Several national business were originally established in Lincoln. Several regional restaurant chains began in Lincoln, including Amigos/Kings Classic, Runza Restaurants and Valentino's.The Omaha-Lincoln areas make up a part of what it referred to as the Midwest Silicon Prairie. In 2013, Lincoln ranked No. 4 on ' list of the Best Places for Business and Careers

 

"

 

Watch Our Freight Factoring YouTube Videos For More Information

 

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:

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

 

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.

 

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.

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

 

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.

 

"

Carter Truck & Haul have been operating their business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the heady times from 2002 to 2007, Carter was a top rated accounts receivable mastermind of the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. Times were great for everyone, and the cash was flowing.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed down. And worse yet, Carter 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, Dennis Olson, CEO of Carter felt a chill go down his spine whenever he would look at the weekly A/R reports. The numbers of clients who owed him back debt were growing.He had already been to the administrators to ask what the actual problem was. Were they doing things different, or wrong, when it came to collecting overdue accounts? When checking his bookkeeper's records this was definitely not the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Carter hadn't gone elsewhere. The had just gone!.This current state-of-affairs was causing Dennis Olson to have some very restless nights. Dennis 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. At night he would speak to his wife Amanda and shake his head in frustration.

 

""I have a bad feeling, Lin,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would ask.Dennis 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. What on earth was happening to create the death of his business?""I know what it is,"" Dennis said. ""For way too long I've been relying solely on profits received from invoices. For too long I've been allowing our clients to let their accounts become overdue."" Linda could only grab her husband's hand and look at him lovingly, ""it is a hard economy. It might be awhile until things get settled up.

 

""Amanda was trying so hard to support her husband in these worrying times, while Dennis was weighed down with the worry of how he was going to handle this situation he found himself in.The next day Dennis strolled into his office and was determined to sit down and make every phone call to every client who had owed Carter money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Dennis knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. A waste of time - a waste of money - he had the best intentions, but all the while Dennis 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 Debbieerley knocked at his door.

 

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

 

""Of course Debbie, please come in."" Dennis leaned back in his chair and looked expectantly at Debbieerely.""Well Dennis, this afternoon I did some research, trying to work out how we are going to get out of this mess."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard of factoring?"" Debbieerley asked.""It sounds vaguely familiar. What is it?"" he said.She began, ""Well, it is really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Dennis interrupted ""Immediately?"".""Immediately, yes"" she added, ""it is actually very simple. We can have an expert account manager review our numbers and help us complete a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It�s a broad view.""Dennis 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.�Dennis leaned forward and reviewed the paperwork closely.""It sounds too good to be true, Debbie,"" he said.""Yes, I know; that's exactly what I thought at the beginning. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. They appear to be very flexible, Dennis,"" she drew a circle around a paragraph on the document before him.""How flexible?"" asked Dennis.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. It only takes 2 to 4 days for this to be figured out. ""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" said Dennis.Dennis took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Dennis 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 Carter. Dennis wasn't prepared to lose these relationships just because they were having financial issues at the moment. Dennis knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. That unknown amount of time could create a disaster situation for both of them if he wasn't careful in how these debtors were handled. Of course he did not want to lose any more money, but he did not want to lose business either.""Let me go over this tonight Debbie, and thankyou."" Debbie nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Dennis sat behind his desk and looked over the details Debbie had not mentioned in their meeting. What other issues could freight factoring help Carter 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. Dennis was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Dennis 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.""Well, I'll have to tell Andre about this,"" Dennis muttered to himself.His son-in-law Andre had liked the idea of Carter so much and revered his father in law for having such business acumen that only two years before, he had gathered the venture capital to begin his own transportation service company. Dennis knew then what struggles Andre would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Carter was struggling then the little guys, like Andre, were going to be in even more trouble. Perhaps the antidote to these problems was in freight factoring, and they were about to find out.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Dennis was beginning to find his way out of the hole his debtors had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They took that time and refocused effort to offering competitive prices in new territories. Dennis 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.

 

"

 

"

Lincoln is the capital and the second-most populous city of the State of Nebraska, after Omaha. Lincoln is also the county seat of Lancaster County and the home of the University of Nebraska. Lincoln's population in 2013 was estimated at 268,738.Lincoln was founded in 1856 as the village of Lancaster, and became the county seat of the newly created Lancaster County in 1859. The capital of Nebraska Territory had been Omaha since the creation of the territory in 1854; however, most of the territory's population lived south of the Platte River. After much of the territory south of the Platte considered annexation to Kansas, the legislature voted to move the capital south of the river and as far west as possible. The village of Lancaster was chosen, in part due to the salt flats and marshes.Omaha interests attempted to derail the move by having Lancaster renamed after the recently assassinated President Abraham Lincoln. Many of the people south of the river had been sympathetic to the Confederate cause in the recently concluded Civil War, and it was assumed that the legislature would not pass the measure if the future capital were named after Abraham Lincoln. The choice to name the capital city ""Lincoln"" caused quite a stir among the constituents, whose sentiments were mixed regarding who should have won the Civil War.Lincoln topped the CDC list of healthiest U.S. cities in 2008, and in 2013, was #1 on the -Healthways list of ""Happiest & Healthiest"" cities.Lincoln's economy is fairly typical of a mid-sized American city; most economic activity is derived from service industries. Government and the University of Nebraska-Lincoln are both large contributors to the local economy. Other prominent industries in Lincoln include finance, insurance, publishing, manufacturing, pharmaceutical, telecommunications, railroads, medical, information technology, education and truck transport. For June 2014, Lincoln's preliminary unemployment rate was 3.2% (not seasonally adjusted).One of the largest employers is the System, which consists of two major hospitals and several large outpatient facilities located across the city. Healthcare and medical jobs account for a substantial portion of Lincoln's employment: as of 2009, full-time healthcare employees in the city included 9,010 healthcare practitioners in technical occupations, 4,610 workers in healthcare support positions, 780 licensed and vocational nurses, and 150 medical and clinical laboratory technicians.Several national business were originally established in Lincoln. Several regional restaurant chains began in Lincoln, including Amigos/Kings Classic, Runza Restaurants and Valentino's.The Omaha-Lincoln areas make up a part of what it referred to as the Midwest Silicon Prairie. In 2013, Lincoln ranked No. 4 on ' list of the Best Places for Business and Careers

 

"

 

More Trucking Factoring Companies Story Articles

Factoring in the Future of a Trucking Business: A Story Luis Graham let the phone ring on his desk. His morning coffee cooled and his cigarette smoked away in the tray: Luis is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Graham 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 Luis's father had started this business working as an owner-operator and eventually growing Graham 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 Luis'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. But now things were different: the company was in Luis's hands and he needed to ensure that this business would be left in great shape for his sons.

 

To move Graham 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 all have families and the usual household bills. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. Every time he had to turn down a request, Graham Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Luis allowed himself a good hard chuckle. He remembered when his father was totally against installing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). 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.

 

Luis knew he was right in his forward thinking. What would be the next step for Graham 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. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

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 a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. Without 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.

 

Luis had to really consider what his next step was going to be. Luis 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! 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. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

However, it all turned out to be very simple. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He 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. 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 extremely helpful and more personable than the bank staff. 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 were not interested in his credit nor the financial problems his father had experienced in the past. Factoring was based on the credit of his customers and on their reliability which worked well for Luis because he and his father had built up good strong relationships over decades with their list of clients. So he knew they would understand when the factoring company contacted them for the invoices. His clients would not have any problems, nor would they think poorly of Graham Trucking, because the factoring companies handle themselves in such a polite and professional manner, similar to the way his father had managed the business in the past.

 

Feeling happier now, Luis 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 Graham 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.

 

 

 

View Our Factoring Video For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So, this is not a loan?� Ian Murphy asked as he leaned back in his chair, crossing his legs. The woman who sat across the desk smiled and shook her head.�No, not exactly,� she said.Ian was the owner of a small trucking company which had fallen on some hard times recently. Trucking could be a profitable business, and for a little under a decade, it had been for Arthur. His company was called Lucas Trucking, named after both of his grandfathers, Randy and Martin. Both of these men had been very hardworking and had set a great example for Arthur.Disaster had struck half a year ago, when two trucks in Arthur�s fifteen truck fleet went down. One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. Ian depended on his full fleet, and missing two trucks was devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Ian had on hand.A big problem a lot of trucking companies came across was how bills were paid in the industry. 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.Ian 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.And that's why he found himself across the desk from this woman. Ian knew she was employed by a Factoring company and that her name was Rosemary. Ian 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 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. That way we�re protected from a complete loss, but you�re protected from the outrageous fees you would find in a loan from the bank.Ian nodded. It sounded good to him, almost too good.The woman laughed. �You look like you don�t believe me,� she chuckled.�Oh no, I do: it just sounds too good to be true. I thought I was going to lose my company.�Rosemary smiled, agreeing. �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 what we�re here for.""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,� said Rosemary with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.

 

Ian filled the form out, with Rosemary available to help him if he needed it. The completed profile gave Rosemary and her company all the information they needed on Arthur'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 Ian filled out his form, Rosemary was pretty sure he was a perfect candidate for factoring.Rosemary took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Arthur�s hand. He also stood up, and they smiled at each other. Ian walked Rosemary to the door where they said 'Goodbye', then he went back into his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.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 Rosemary and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.All those long, sleepless nights. The sudden panic attacks, not matter where he was. Already he could feel all the stress start to drain 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. At twenty-two and straight out of school he had opened a restaurant. It had been successful. Home cooking in his hometown, and he had done very well.But he had gotten bored. His passion didn�t lie with the food industry. He thought long and hard, and then he decided to sell the restaurant. He took half a year off, and in that time he thought to start Lucas Trucking. And that's exactly what he did. Once again he built a company from the ground up. The business had been an instant success.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was about to turn 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. Ian 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

Why Trucking Agencies Utilize Factoring Companies.

 

As the owner of your own company, you may perhaps be much more than perceptive already of the hardship in making sure that cash flow concerns do not become a problem down the line. Anyway, the most unfortunate thing that can quite possibly occur for your establishment is to find yourself involved in a long and perplexing situation that leaves you forever searching for the resources you need to have on an recurring manner.

 

For virtually any firm in this position, the issue can come for waiting for work to lapse and actually be compensated into your statement. Statements, checks, and the like could take some time to actually to be taken care of which can leave you with temporary capital troubles. Thankfully, there are options out there for businesses to delve into-- and just one of these is factoring companies.

 

Factoring providers will, in exchange for your accounts, provide you with the cash money today to ensure that you do not need to worry about the delaying duration that could make paying off the expenses and acquiring materialsmore tough. With this style of arrangement, invoice factoring can come to be tremendously practical for many businesses who ought to get out of a cash pitfall which they have found themselves in.

 

Because, basing on the volume of the job, it can take up to 60 days for many companies to get paid out then it is very important to take care of your own back and not leave yourself funds short to pay off the expenses. After all, how many businesses possess two months cash flow just lying there to cover all their expenses until they earn?

 

This is most notably correct of truck companies. They often manage bunches of statements which means a substantial quantity of collection period entails company owner themselves. Attempting to get compensated promptly can end up being an unbelievable difficulty and this is the key reasons why you use trucking factoring companies who are pleased to help out truckers exclusively.

 

As all of us determine, trucking is an exceptionally enormous business with countless companies out there utilizing hundreds of operators. Regretfully, quite a few of these drivers end up in finances problems simply because they are still waiting on work from six weeks back to actually pay them. When this is the situation for a trucking business, resorting to factoring firms for assistance may be the most effective choice left.

 

This implies that a trucking corporation can pay the paychecks of the crew, keep all the vehicles loaded with fuel and continue to scale, develop and expand without constantly waiting for the cash which is taking too lengthy to come in. Trucking Businesses running without a factoring program applied are leaving themselves at substantial hazard, as competitors cash out quickly and go on to grow.

 

There's honestly not much to be distressed about when it comes to employing a Factoring contractor-- they are not like a banking company or somebody who is going to leave you with a substantial mound of financial obligation to pay back. You give them legitimate invoices from output you have already wrapped up , you are only just hastening the payment system.

 

In the United states of America, where truck enterprises survive, factoring companies are not considered taking on loan in any capacity. This private contract then permits both groups to make money and delight in a worry-free future-- it provides the factoring provider a warranted asset of earnings to include in the list and it supplies the trucking company the required cash that they sweated to generate.

 

The trucking business gives their invoices to the factoring business. The trucking factoring firm then collect the installment payments from the trucking company's clients. Factoring has beenaround for hundreds of years and has been employed for several years by plenty of varied business sectors-- but none exceeding so than truckers. While you may well lose out on a small part of the money, something like 1-3 % depending on who you work with, it implies that you are receiving the cash today and can actually start off setting the resources to perform.

 

Anyway, an IOU or an invoice is not going to finance costs, is it? For trucking enterprises when the hard earned cash can be excellent one day and gone the next, it is up to the drivers to work smartly and to make sure that they are leaving themselves with a considerable measure of time and money to get through the week till they are paid for again.

 

So the next occasion your trucking business is enduring some temporary cash flow issues and you are devoting excessive time chasing inactive paying customers, why not begin taking into consideration making use of a factoring businesses as a means to get your cash and give yourself a more comfortable future in the eyes of your trucking workers and your bank dividend?

 

 

 

 

 

 

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Traditional Bank Loans

 

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

 

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. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 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 you have set up Trucking Factoring account it continues as long as you wish it too and the amount of money available to you even can grow as your business grows, giving you the ready cash you need to meet your own obligations.

 

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. There is no debt. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. 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. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. No Collateral Required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. 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. 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. 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, 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 main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very efficient at debt collecting, and this frees up your valuable time to devote to running your company.

 

Another bonus is that, because the Trucking Factoring company has evaluated the quality of your customers' credit before buying the accounts receivable, you learn valuable information regarding your customers, like which ones are likely to pay, and which ones are less likely to pay.A Trucking Factoring company is not the only method of gaining access to finance for the running and growing of your business, however it does offer a financing option well worth considering.

 

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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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