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Do Your Receivables Turn as Quickly as You Would Like - Our Freight Factoring Company Can Give
Your Freight Company The Money You Need

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Small trucking companies, particularly those who have not been in existence for very long, will frequently find it hard to protect a loan. Banks are often hesitant to lend cash to businesses that do not have a great deal of earnings and assets. They likewise desire proof of the viability of a company and hence need that many operations, particularly little ones, be in business for a particular amount of time prior to they are willing to hand over any money. Since of this, a medium-size business commonly has a couple of cash creating alternatives when requires emerge. One alternative available, however frequently overlooked, is invoice factoring. This is an exceptional way for a small business to obtain money.

 

 

 

 

 

 

 

Only Companies with imagination can take it - Pick A Factoring Company Instead Of A Regular Bank Funding

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

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

Cash flow does not have to be a problem any more. Do not be fooled -- banks are not the only places you can get funding. Other solutions are offered and you do not have to borrow money. What is trucking factoring ? One solution is called trucking factoring. Truck Factoring is the process of selling accounts receivable to a financier rather than waiting to collect the money from the client. Oh, the Irony- Truck factoring has a paradoxical distinction: It is the financial backbone of numerous of America's most successful businesses. Why is this paradoxical ? Because receivable financing is not instructed in business colleges, is seldom discussed in business plans and is relatively unknown to bulk of most of American company people.

Yet it is a financial process that frees billions of dollars every year, enabling thousands of companies to grow and prosper. Receivable Loan Financing has actually been around for thousands of years. FACTORING Companies are investors who pay money for the right to get the future payments on your invoices. An overdue receivable or invoice has value. It is a financial obligation your client has actually to pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business transactions, a big portion of the retail company utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail deals. Utilizing the purest definition of the word, these big customer finance companies are really just big Receivable Loan Financing Businesses of customer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The store gets paid almost immediately, although you do not pay until you are ready.

For this service, the charge card company charges Sears a fee (typical common normal fees vary from two to 4 percent of the sale). The Benefits Invoice Factoring can offer many benefits to cash-hungry companies. Rather than wait 30, 60, 90 days or longer for payment on an item that has currently been provided, a company can factor (sell) its receivables for money at a small discount off the amount of the invoice. Payroll, advertising efforts, and working capital are just a few of the company requirements that can be satisfied with instant  money.

Invoice Factoring offers the means for a producer to replenish stock and make more items to offer: There is no longer a need to wait for earlier sales to be paid. Receivable Loan Financing is not just a money management tool for manufacturers: Almost any kind business can take advantage of Commercial Factoring. Typically, a business that extends credit will have 10 to 20 percent of its annual sales tied up in accounts receivable at any given time. Think for a minute about how much is tied up in 60 days' worth of invoices: You can not pay the power expense or this week s payroll with a customer s invoice, however you can offer that invoice for the money to satisfy those obligations. Using truck factoring companies is a fast and simple process. The factoring company buys the invoice at a discount, typically a few portion points less than the stated value of the invoice.

 

 

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The United states Transportation Organization
specifies that there around
200,000 employees with transportation
companies and
276,000 personal providers trucking
companies licensed to
run in the States that transferred,
according to their latest data of millions
products, supplies and
basic products .
There are numerous common
providers either going solo or in
groups on our nation
roads transporting these
important items to our
stores, manufacturing facilities and harbors.

Furthermore trucking factoring
businesses aid
several of them and offer their
factoring services
nationallycounting
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

 

Billings is the largest city in the State of Montana, and is the principal city of the Billings Metropolitan Area with a population of 165,361.[5] It has a trade area of over half a million people.[6]Billings is located in the south-central portion of the state and is the county seat of Yellowstone County, which had a 2013 population of 154,162 [7] The 2013 Census estimates put the Billings population at 109,059[3] the only city in Montana to surpass 100,000 people. The city is experiencing rapid growth and a strong economy; it has had and is continuing to have the largest growth of any city in Montana. Parts of the metro area are seeing hyper growth. From 2000 to 2010 Lockwood, an eastern suburb of the city, saw growth of 57.8% the largest growth rate of any community in Montana.[8] Billings has avoided the economic downturn that affected most of the nation 2008�2012 as well as avoiding the housing bust.[9][10] With the Bakken oil play in eastern Montana and western North Dakota, the largest oil discovery in U.S. history,[11][12] as well as the Heath shale oil play just north of Billings,[13] the city's already rapid growth rate is escalating.[14][15]Billings was nicknamed the Magic City because of its rapid growth from its founding as a railroad town in March 1882. The city is named for Frederick H. Billings, a former president of the Northern Pacific Railroad. With one of the largest trade areas in the United States,[16] Billings is the trade and distribution center for most of Montana, Northern Wyoming, and western portions of North Dakota and South Dakota. Billings is also the retail destination for much of the same area. With more hotel accommodations than any area within a five-state region, the city hosts a variety of conventions, concerts, sporting events, and other rallies.[16]Area attractions include Pompey's Pillar, Pictograph Cave, Chief Plenty Coups State Park, Zoo Montana, and Yellowstone Art Museum. Within 100 miles are Little Bighorn Battlefield National Monument, Bighorn Canyon National Recreation Area, Red Lodge Mountain Resort, and the Beartooth Highway, which links Red Lodge to Yellowstone National Park.The geographic location of Billings was essential to its economic success. Billings' future as a major trade and distribution center was basically assured from its founding as a railroad hub due to its geographic location. As Billings quickly became the region's economic hub it outgrew the other cities in the region. The Billings trade area serves over a half million people.[6] A major trade and distribution center, the city is home to many regional headquarters and corporate headquarters. With Montana having no sales tax, Billings is a retail destination for much of Wyoming, North and South Dakota as well as most of Montana. $1 out of every $7 spent on retail purchases in Montana is being spent in Billings.The percentage of wholesale business transactions done in Billings is even stronger, Billings accounts for more than a quarter of the wholesale business for the entire state, these figures do not include Billings portion of sales for Wyoming and the Dakotas.[68] Billings is an energy center; Billings sits amidst the largest coal reserves in the United States as well as large oil and natural gas fields.

 

 

View Our Freight Factoring YouTube Videos For More Information

 

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

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

 

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

 

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

 

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

 

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

 

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

 

 

"

Since the mid 1980s Elliott 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, Elliott was a top rated accounts receivable mastermind of the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. 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 Elliott 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 Elliott, Rick Price, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. There was a growing list of clients who now owed them back debt.He had already been to the administrators to ask what the actual problem was. Were they doing things different, or wrong, when it came to collecting overdue accounts? When checking his bookkeeper's records this was definitely not the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Elliott money had jumped ship and decided to leave him holding the bag.

 

. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. They had just gone home.To Rick Price the situation looked desperate. Rick 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 Katie and shake his head in frustration.

 

""Lin, I have a really bad feeling,"" he would say with deep woe.""What could you do differently?"" she would ask.Rick 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 on the road, delivering good to all his loyal customers. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What could cause this ultimate death spiral of business?""I know what it is,"" Rick 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.

 

""Rick knew very well that Katie 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 Rick walked into his office with a spring in his step, determined to call each and every client who owed money to Elliott Truck & Haul. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. 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 Rick 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 Heathererley knocked at his door.

 

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

 

""Of course Heather, please come in."" Rick relaxed back into his chair and looked up at Heathererley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Rick."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard of factoring?"" Heathererley asked.""It sounds vaguely familiar. What is factoring""? he asked.She began, ""Well, it is really very simple. So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Rick interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""In a nutshell, it is pretty easy. We start by having a professional account manager review our figures and help us set up a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.""I see,� Rick said. �And then what?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. There�s a lot of flexibility depending on the business volume and credit histories. The company will advise us the cost to purchase factoring for our company's accounts receivable. The funding commences once we�ve arrived at an agreement.�Rick leaned forward and reviewed the paperwork closely.""It sounds too good to be true, Heather,"" he said.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Rick: 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, Rick,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" asked Rick.""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. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" said Rick.He took a deep breath and looked at his secretary with something she recognized as hope.""Exactly�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Rick thought about this and agreed with Heathererley. The clients who owed them money were long standing friends and professional resources of Elliott. They did not want to throw away these relationships because they were having trouble paying their bills now. 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. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. He did not want to lose business but he also did not want to lose any more money.""Let me go over this tonight Heather, and thankyou."" Heather nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Rick keep the shirt on his back, and possibly hers too.Rick sat behind his desk and looked over the details Heather had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Elliott Truck & Haul 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. Rick was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Rick was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""I must tell Aaron the good news,"" Rick muttered to himself.Aaron is Rick's son-in-law, and he really admired the ideas behind Elliott, so much so that only two years before he had started his own transportation service business. At that time Rick knew the struggles Aaron would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Elliott was struggling then the little guys, like Aaron, 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.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, Rick 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 used that time to refocus their efforts in being competitive in new territories. Rick looked back on the dismal months of life before freight factoring and almost shuddered at the thought. If Rick hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

Billings is the largest city in the State of Montana, and is the principal city of the Billings Metropolitan Area with a population of 165,361.[5] It has a trade area of over half a million people.[6]Billings is located in the south-central portion of the state and is the county seat of Yellowstone County, which had a 2013 population of 154,162 [7] The 2013 Census estimates put the Billings population at 109,059[3] the only city in Montana to surpass 100,000 people. The city is experiencing rapid growth and a strong economy; it has had and is continuing to have the largest growth of any city in Montana. Parts of the metro area are seeing hyper growth. From 2000 to 2010 Lockwood, an eastern suburb of the city, saw growth of 57.8% the largest growth rate of any community in Montana.[8] Billings has avoided the economic downturn that affected most of the nation 2008�2012 as well as avoiding the housing bust.[9][10] With the Bakken oil play in eastern Montana and western North Dakota, the largest oil discovery in U.S. history,[11][12] as well as the Heath shale oil play just north of Billings,[13] the city's already rapid growth rate is escalating.[14][15]Billings was nicknamed the Magic City because of its rapid growth from its founding as a railroad town in March 1882. The city is named for Frederick H. Billings, a former president of the Northern Pacific Railroad. With one of the largest trade areas in the United States,[16] Billings is the trade and distribution center for most of Montana, Northern Wyoming, and western portions of North Dakota and South Dakota. Billings is also the retail destination for much of the same area. With more hotel accommodations than any area within a five-state region, the city hosts a variety of conventions, concerts, sporting events, and other rallies.[16]Area attractions include Pompey's Pillar, Pictograph Cave, Chief Plenty Coups State Park, Zoo Montana, and Yellowstone Art Museum. Within 100 miles are Little Bighorn Battlefield National Monument, Bighorn Canyon National Recreation Area, Red Lodge Mountain Resort, and the Beartooth Highway, which links Red Lodge to Yellowstone National Park.The geographic location of Billings was essential to its economic success. Billings' future as a major trade and distribution center was basically assured from its founding as a railroad hub due to its geographic location. As Billings quickly became the region's economic hub it outgrew the other cities in the region. The Billings trade area serves over a half million people.[6] A major trade and distribution center, the city is home to many regional headquarters and corporate headquarters. With Montana having no sales tax, Billings is a retail destination for much of Wyoming, North and South Dakota as well as most of Montana. $1 out of every $7 spent on retail purchases in Montana is being spent in Billings.The percentage of wholesale business transactions done in Billings is even stronger, Billings accounts for more than a quarter of the wholesale business for the entire state, these figures do not include Billings portion of sales for Wyoming and the Dakotas.[68] Billings is an energy center; Billings sits amidst the largest coal reserves in the United States as well as large oil and natural gas fields.

 

 

More Trucking Factoring Companies Story Articles

The Future of a Trucking Company, and Factoring The phone was ringing on his desk, and Claude George just sat there letting it ring. 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. George Trucking Company was at a turning point of growth and Claude had to decide if signing with a factoring company was the right way forward.

 

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

 

To move George Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. He had employees to pay. They had families and household bills too. 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 George 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. Claude 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?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. He knew his father's days were long gone and new technology was very important for the business, like having Qualcomm to reduce communication time for bills of lading.

 

Claude knew he was right in his forward thinking. What would be the next step for George Trucking? And how would he be able to afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

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

 

Now it was time for Claude to do his homework. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

But it turned out to be quite easy. 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. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It sounded like a great scheme to him.

 

It was really refreshing dealing with the factoring people. They were extremely helpful and more personable than the bank staff. 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. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Claude because he and his father had created a very strong and loyal list of clientele over the years. So he knew they would understand when the factoring company contacted them for the invoices. His clients would not have any problems, nor would they think poorly of George 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.

 

Claude stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. With the capabilities of this new cash flow, Claude could actually expand George Trucking Company further across the country and perhaps even go international into Canada. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

 

 

 

 

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Trucking Factoring  Articles

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�So It is not a loan?� asked Armando Harrison, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she stated.Armando was the owner of a small trucking company which had fallen on some hard times recently. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Sean. His company was called Stone Trucking, named after both of his grandfathers, Miguel and Jay. They had both been hardworking men, and had done a lot to make Armando the same.Disaster had struck half a year ago, when two trucks in Sean�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. Armando depended on his full fleet, and missing two trucks was devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.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.Armando was an excellent business man, and he certainly hadn't done anything wrong. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.That�s where the woman across the desk came in. Armando knew she was employed by a Factoring company and that her name was Diane. Armando 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.Diane explained. �It�s not a loan, we purchase your accounts receivable. we are not giving you finance to be repaid later: we are purchasing something from you, and when you can you can buy it back. This is a win-win situation: we are protected from a total loss, and you're protected from the ridiculous fees and charges you'd have to pay if you borrowed from a bank.Armando nodded. It sounded good to him, almost too good.The woman laughed. �You look like you don�t believe me,� she chuckled.�No, I do, I just think it sounds a bit too good to be true. I thought I was going to lose my company.�Diane nodded. �Yes, we get a lot of that. There's no way we want to see you lose your business. 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.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Diane with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Armando completed the form, with Diane offering advice as needed.

 

The completed profile gave Diane and her company all the information they needed on Sean'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 Armando filled out his form, Diane was pretty sure he was a perfect candidate for factoring.Diane took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Sean's hand. He stood before they shook as well, and then smiled. Armando walked Diane 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 felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. But now, after speaking to Diane 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.The long nights, where he couldn�t sleep. The terrifying panic attacks that occurred regardless of 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 still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.His mind wandered back to the very beginning, when he first started his business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been successful. Offering home cooking in his own hometown, his business had really prospered.But he had gotten bored. His passion didn�t lie with the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took half a year off, and in that time he thought to start Stone Trucking. So he did it. For the second time in his short life he created a company from the ground up. He had been successful.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was nearing fifty. He was concerned that he just did not have the energy left to try and save the business. But he couldn�t give up. Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He didn�t know how to say quit.And now it seemed as though he would not have to - all because of Factoring. Armando 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

The reason why Truck Establishments Use Factoring Companies.

 

As the manager of your own company, you may perhaps be more than conscious already of the difficulty in making sure that capital issues do not become a problem down the line. Anyway, the most awful thing that can in all probability transpire for your enterprise is to find yourself swept up in a long and troublesome predicament that leaves you forever trying to find the funds you require on an continual basis.

 

For any type of business enterprise in this situation, the problem can come for waiting for work to lapse and actually be compensated into your statement. Invoices, checks, and the like could take a while to actually to beprocessed which may leave you with short-term available resources difficulties. Luckily, there are options out there for establishments to explore-- and just one of these is factoring providers.

 

Factoring companies will, in substitution for your statements, offer you with the funds immediately so you do not have to worry about the lingering duration that could make paying off the bills and getting toolsmore difficult. With this type of setup, invoice factoring can end up being extremely practical for various companies who need to avoid a money pitfall which they have discovered themselves in.

 

Considering that, depending upon the volume of the task, it can take up to 60 days for several businesses to get compensated then it is significant to cover your own back and not leave yourself funds short to settle the bills. After all, how many business enterprises possess two months earnings just occupying there to cover all their expenditures till they get paid?

 

This is particularly correct of trucking establishments. They generally deal with lots of statements which means a considerable volume of collection time concerns company owner themselves. Striving to get paid out promptly can develop into an extraordinary struggle and this is exactly why you make use of truck factoring firms who are glad to help out truckers primarily.

 

As all of us recognize, trucking is an astonishingly big business with countless firms out there working with hundreds of operators. Unfortunately, several of these drivers end up in income dilemmas simply because they are still awaiting work from six weeks in the past to actually compensate them. When this is the scenario for a truck business, consulting factoring firms for help could be the most effective option left.

 

This indicates that a trucking company can compensate the salaries of the workers, keep all the trucks loaded with gas and continue to escalate, develop and expand without continually waiting for the funds which is taking too lengthy to come in. Trucking Establishments working without a factoring program used are leaving themselves at critical danger, as competitions cash out promptly and carry on to expand.

 

There's honestly almost nothing to be stressed about when it comes to making use of a Factoring agency-- they are not like a financial institution or an individual who is going to leave you with a huge mound of personal debt to repay. You give them genuine invoices from work you have already finished , you are just quickening the repayment system.

 

In the United states of America, where truck firms flourish, factoring companies are not considered accepting loan of in any capacity. This confidential arrangement then lets both groups to profit and delight in a good future-- it provides the factoring provider a warranted resource of revenue to put into the list and it gives the trucking company the required cash that they worked hard to acquire.

 

The trucking establishment bestows their accounts to the factoring business. The trucking factoring agency then collect the installment payments from the trucking company's clients. Factoring has been in existence for centuries and has been used for long times by many varied fields-- but none much more so than truckers. While you could miss out on a small part of the money, something like 1-3 % depending on who you partner with, it means that you are acquiring the finances today and can actually begin setting the cash to do work.

 

Anyway, an IOU or an invoice is not actually going to pay for expenditures, is it? For trucking firms when the funds can be fantastic one day and gone the next, it is up to the vehicle drivers to work prudently and to make sure they are leaving themselves with a considerable quantity of time and finance to get through the week until they are handed over once again.

 

So the next time your trucking company is enduring some temporary capital troubles and you are investing excessive time chasing slowly paying clients, why not start thinking of using a factoring companies as a way to get your cash and give yourself a more worry-free future in the eyes of your trucking team and your bank balance?

 

 

 

 

 

 

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Bank Loans

 

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

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. 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 money you can receive is based on the amount of money you have earned and the accounts receivable you are willing 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. You will not Incur Debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. 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. 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.You receive interest up-front. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you do not have to continue to pay interest as they take it right off the top, deducting it from the total amount of accounts receivable. So you do not have to worry about monthly loan repayments, and you do not have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The 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. Since these accounts belong to the Trucking Factoring company, this is now their job. 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.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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