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How You can Get a Quick Loan of $50,000 - Our Freight Factoring Companies Can Give
Your Truck Company The Cash You Need

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freight bill factoring

best trucking factoring

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factoring trucking receivables

Medium-Size freight brokerage businesses, specifically those who have not been around for extremely long, will commonly find it challenging to protect a loan. Banks are commonly hesitant to lend cash to businesses that do not have a great deal of income and possessions. They also want evidence of the viability of a company and thus need that a lot of operations, specifically little ones, been around for a particular amount of time prior to they want to turn over any cash. Due to the fact that of this, a medium-size business frequently has a couple of money producing alternatives when needs occur. One option readily available, however often neglected, is invoice factoring. This is an outstanding method for a medium-size business to acquire cash.

 

 

 

 

 

 

 

This is Marie Antoinette - Escaping - Pick A Freight�Invoice Factoring Company  Instead Of A Typical Bank Financing

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

At one time or another, every company, 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 options are available and you do not have to borrow money. What is trucking factoring ? One option is called trucking factoring. Truck Factoring is the process of selling invoices to an investor rather than waiting to gather the money from the customer. Oh, the Irony- Trucking factoring has a paradoxical difference: It is the monetary backbone of numerous of America's most effective companies. Why is this paradoxical ? Since truck factoring is not instructed in business colleges, is seldom mentioned in company plans and is relatively unknown to the majority of most of American business individuals.

Yet it is a monetary procedure that frees billions of dollars every year, allowing countless companies to grow and prosper. Commercial Factoring has been around for countless years. Commercial Factoring Companies are financiers who pay money for the right to receive the future payments on your invoices. An overdue receivable or invoice has value. It is a financial obligation your client has actually agreed pay in the near future. Factoring Principals--Although factoring deals solely with business-to-business deals, a big portion of the retail company utilizes a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail transactions. Using the purest definition of the word, these large consumer finance business are really just big Staffing Factoring Companies of consumer paper. Consider it: You make a purchase at Sears and charge it to your MasterCard. The shop gets paid practically immediately, although you do not pay up until you are ready.

For this service, the credit card company charges Sears a charge (typical common normal charges range from 2 to four percent of the sale). The Benefits Receivable Funding can provide many benefits to cash-hungry business. Instead of waiting 30, 60, 90 days or longer for payment on an item that has actually already been provided, a business can factor (sell) its receivables for cash at a little discount off the dollar value of the invoice. Payroll, marketing efforts, and working capital are simply a few of the business requirements that can be satisfied with instant  cash.

Invoice Factoring provides the ways for a manufacturer to replenish stock and make even more items to offer: There is no longer a need to wait for earlier sales to be paid. FACTORING is not simply a cash management device for manufacturers: Almost any kind business can benefit from Receivable 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 moment about exactly how much is bound 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 meet those responsibilities. Using truck factoring companies is a quick and simple procedure. The factor buys the invoice at a price cut, typically a few percentage points less than the stated value of the invoice.

 

 

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cincinnati-factoring-companies

 

The U.s. Truck Organization
specifies that there are about
195,000 truck drivers with transportation
companies and
300,000 personal providers trucking
firms licensed to
operate in the U.S. that transported,
according to their latest listings of millions of
items, supplies and
basic products .
There are numerous common
providers either going solo or in
groups on our country
highways transporting these
vital items to our
shops, factories and harbors.

Also trucking factoring
firms aid
numerous of them and offer their
receivables financing facilities
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

 

"

Many major and diverse corporations have their head offices in Cincinnati, .The Cincinnati area is also home to .Altogether, nine Fortune 500 companies and fifteen Fortune 1000 companies have headquarters in the Cincinnati area. With nine Fortune 500 company headquarters in Cincinnati, the region ranks in the United States Top 10 markets for number of Fortune 500 headquarters per million residents, higher than New York, Boston, Chicago or Los Angeles. In addition to Fortune 500 headquarters, 400 Fortune 500 companies have a presence in Cincinnati. Cincinnati has three Fortune Global 500 companies; three of the five Global 500 companies in the state of Ohio.The largest employer in Cincinnati, Kroger, has 17,000 employees. The University of Cincinnati is the second largest, with 15,162 employees.Cincinnati (sins?nat'e, �nat'?) [key], city (1990 pop. 364,040), seat of Hamilton co., extreme SW Ohio, on the Ohio River opposite Newport and Covington, Ky.; inc. as a city 1819. The third largest city in the state, Cincinnati is the industrial, commercial, and cultural center for an extensive area including numerous suburbs in Ohio, Kentucky, and Indiana. It is also a port with a large riverfront and good transportation facilities. Machinery; consumer goods; transportation, electric, and electronic equipment; musical instruments; metal goods; and packaged meats are among its manufactures; banking and finance also are important. Cincinnati was founded in 1788 as Losantiville; in 1790 Arthur St. Clair, the first governor of the Northwest Territory, renamed it for the Society of Cincinnati, a group of Revolutionary War officers. It was the first seat of the legislature of the Northwest Territory. After the opening of the Ohio and Erie Canal (c.1832), the city developed as a shipper of farm products and meat. Built on and below ""seven hills,"" it became known for its German-iuenced cultural life. Corruption, crime, and unrest plagued late-19th-century Cincinnati; a reform movement culminated in the establishment (1924) of the city-manager type of government (notable managers were Clarence A. Dykstra and Clarence O. Sherrill). Disastrous flooding struck the city in 1884 and again in 1937, after which major flood-control projects were undertaken. In the 21st cent. the city's downtown and riverfront has undergone a revitalization, with the construction of new business and residential buildings and park facilities.William Howard Taft and his son Robert A. Taft were born here. Cincinnati's landmarks include the Taft Museum; Eden Park, with the Cincinnati Art Museum; the Cincinnati Museum Center in the former Union Terminal; and the Rosenthal Center for Contemporary Art. The Univ. of Cincinnati, Edgecliff College, Xavier Univ., and several other educational institutions are in Cincinnati. The city is home to the Reds, the nation's oldest professional baseball team, and the football team.

 

"

 

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

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

 

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.

 

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.

 

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.

Click below to find Trucking Companies in the United States:

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

 

"

Since the mid 1980s Rose Truck & Haul have been successfully running their freight business. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the boom times from 2002 to 2007 Rose Truck & Haul was the mastermind of a top-rated accounts receivable in 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. Cash was flowing and times were good for all.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed to a crawl

 

. And worse yet, Rose 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, Jon Caldwell, CEO of Rose felt a chill go down his spine whenever he would look at the weekly A/R reports. There was a growing list of clients who now owed them back debt.He had gone to his administrators and asked them what the problem had been. Were they doing things different, or wrong, when it came to collecting overdue accounts? By his bookkeepers records, this wasn't 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 Rose money had jumped ship and decided to leave him holding the bag.

 

. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Rose hadn't gone elsewhere. The had just gone!.This current state-of-affairs was causing Jon Caldwell to have some very restless nights. Jon 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 Darlene 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.Jon would stare off into the distance, and then slowly close his eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them 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. Why couldn�t he work out how to resolve this financial problem with his business?""I think I know what it could be,"" said Jon. ""I've relied too long on the profits I receive from invoices alone. I've let too many of our customers go too long without paying on their bills."" 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.

 

""Jon knew his wife meant well, but he knew that he was responsible for too many people to sit idly by, waiting for the sun to peak over the clouds.The next day Jon strolled into his office and was determined to sit down and make every phone call to every client who had owed Rose money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Jon knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. A waste of time - a waste of money - he had the best intentions, but all the while Jon 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 Idaerley knocked at his door.

 

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

 

""Sure thing Ida, come on in."" Jon leaned back in his chair and looked expectantly at Idaerely.""Well Jon, this afternoon I did some research, trying to work out how we are going to get out of this mess."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard the word factoring?"" Idaerley asked.""It does sound vaguely familiar. What is factoring""? he asked.She began, ""Well, it is really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Jon interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""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.""Jon replied cautiously ""I see - and what happens then?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. There�s a lot of flexibility depending on the business volume and credit histories. This company tells us what the cost will be to purchase factoring for our accounts receivable. The funding commences once we�ve arrived at an agreement.�Leaning forward, Jon studied the documents very closely.""It sounds too good to be true, Ida,"" he said.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Jon: 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. And they're flexible Jon,"" she underlined a paragraph on the paper before him.""Just how flexible?"" he asked.""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.

 

""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" said Jon.Jon took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Precisely�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Jon took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Rose Truck & Haul were professional resources of the company, but they were also long-standing friends. They did not want to throw away these relationships because they were having trouble paying their bills now. Jon 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.""Well, let me think about this tonight Ida, thank you."" Ida nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Jon sat behind his desk and looked over the details Ida had not mentioned in their meeting. What other issues could freight factoring help Rose 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. Jon was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Jon 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 Julio the good news,"" muttered Jon to himself.Julio is Jon's son-in-law, and he really admired the ideas behind Rose, so much so that only two years before he had started his own transportation service business. Jon knew then what struggles Julio would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Rose was struggling then the little guys, like Julio, were going to be in even more trouble. But, maybe the answer for both of them was in freight factoring, and Jon was going to find out very soon.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, Jon found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They used that time to refocus their efforts in being competitive in new territories. Jon looked back on the dismal months of life before freight factoring and almost shuddered at the thought. If Jon hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

"

Many major and diverse corporations have their head offices in Cincinnati, .The Cincinnati area is also home to .Altogether, nine Fortune 500 companies and fifteen Fortune 1000 companies have headquarters in the Cincinnati area. With nine Fortune 500 company headquarters in Cincinnati, the region ranks in the United States Top 10 markets for number of Fortune 500 headquarters per million residents, higher than New York, Boston, Chicago or Los Angeles. In addition to Fortune 500 headquarters, 400 Fortune 500 companies have a presence in Cincinnati. Cincinnati has three Fortune Global 500 companies; three of the five Global 500 companies in the state of Ohio.The largest employer in Cincinnati, Kroger, has 17,000 employees. The University of Cincinnati is the second largest, with 15,162 employees.Cincinnati (sins?nat'e, �nat'?) [key], city (1990 pop. 364,040), seat of Hamilton co., extreme SW Ohio, on the Ohio River opposite Newport and Covington, Ky.; inc. as a city 1819. The third largest city in the state, Cincinnati is the industrial, commercial, and cultural center for an extensive area including numerous suburbs in Ohio, Kentucky, and Indiana. It is also a port with a large riverfront and good transportation facilities. Machinery; consumer goods; transportation, electric, and electronic equipment; musical instruments; metal goods; and packaged meats are among its manufactures; banking and finance also are important. Cincinnati was founded in 1788 as Losantiville; in 1790 Arthur St. Clair, the first governor of the Northwest Territory, renamed it for the Society of Cincinnati, a group of Revolutionary War officers. It was the first seat of the legislature of the Northwest Territory. After the opening of the Ohio and Erie Canal (c.1832), the city developed as a shipper of farm products and meat. Built on and below ""seven hills,"" it became known for its German-iuenced cultural life. Corruption, crime, and unrest plagued late-19th-century Cincinnati; a reform movement culminated in the establishment (1924) of the city-manager type of government (notable managers were Clarence A. Dykstra and Clarence O. Sherrill). Disastrous flooding struck the city in 1884 and again in 1937, after which major flood-control projects were undertaken. In the 21st cent. the city's downtown and riverfront has undergone a revitalization, with the construction of new business and residential buildings and park facilities.William Howard Taft and his son Robert A. Taft were born here. Cincinnati's landmarks include the Taft Museum; Eden Park, with the Cincinnati Art Museum; the Cincinnati Museum Center in the former Union Terminal; and the Rosenthal Center for Contemporary Art. The Univ. of Cincinnati, Edgecliff College, Xavier Univ., and several other educational institutions are in Cincinnati. The city is home to the Reds, the nation's oldest professional baseball team, and the football team.

 

"

 

More Trucking Factoring Companies Story Articles

"

Factoring in the Future of a Trucking Business: A Story The phone was ringing on his desk, and Mitchell Hansen 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. Hansen Trucking Company was at a turning point of growth and Mitchell had to decide if signing with a factoring company was the right way forward.

 

Mitchell�s father had started as an owner-operator and had grown Hansen Trucking Company into a fifteen trailer fleet over forty years. Yes, they had survived some very difficult times when it appeared like they might go under, and even Mitchell's mother had jumped into the cab at times 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 Mitchell's hands and he needed to ensure that this business would be left in great shape for his sons.

 

There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. His employees needed to be paid. They all have families and the usual household bills. 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, Hansen Trucking looked weak in a very strong market.

 

His father would have told him to wait and to take his time adding on new technology. Mitchell chuckled, thinking about his father. His father had been against placing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. His father days were long gone and technology was actually an important improvement for the business such as having Qualcomm to cut down on fruitless time communicating on the phone for bills of lading.

 

Mitchell knew he was right in his forward thinking. What would be the next step for Hansen Trucking? And how would he be able to afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. 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 like a ninth grade math problem and he wondered how this would fit into the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. 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. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Now it was time for Mitchell 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. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He was quite happy to sign an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. He was more than happy with the figures he was offered in percentage terms on the freight bills. It was good money.

 

It was really refreshing dealing with the factoring people. They were more personable than those loan managers at the bank. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar for a handout. The factoring companies 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 Mitchell because he and his father had built up good strong relationships over decades with their list of clients. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients would not have any problems, nor would they think poorly of Hansen 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.

 

Mitchell stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. 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. With the capabilities of this new cash flow, Mitchell could actually expand Hansen Trucking Company further across the country and perhaps even go international into Canada. 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.

 

"

 

 

 

 

Carjasez.Com

 

Expressbusinesscapital.Net

 

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Trucking Factoring  Articles

"

�So, this is not a loan?� asked Wallace Jones, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�No, not exactly,� she stated.Wallace 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 Gregory. His company was called Moreno Trucking, named after both of his grandfathers, Brent and Jerome. Both of these men had been very hardworking and had set a great example for Gregory.Disaster had struck half a year ago, when two trucks in Gregory�s fifteen truck fleet went down. One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. The financial security of Gregory's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Wallace had on hand.A big problem a lot of trucking companies came across was how bills were paid in the industry. Waiting a month or longer for bills to be paid was quite normal. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Wallace wasn�t a bad owner, and he hadn�t messed up. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.And that's why he found himself across the desk from this woman. Her name was Kristen and she worked for a factoring company. Wallace 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. 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.Wallace nodded. It sounded perfect - perhaps too good?.Kristen laughed. �I'm not sure that you 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.�Kristen nodded. �We get that a lot. There's no way we want to see you lose your business. You work hard, you�ve put everything you can into it. We all need help sometimes. That's why we do what we do.""In any case, thank you for coming to see me.""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 Kristen with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Wallace completed the form, with Kristen offering advice as needed.

 

The profile filled Kristen and her company in on Gregory�s company, and would help them determine if he was suitable for factoring. Unfortunately, not all companies are. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. As Wallace completed his form, Kristen listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Kristen took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Gregory's hand. He stood before they shook as well, and then smiled. They said their goodbyes and Wallace walked her to the door, and then returned to 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. Talking to Kristen though, learning about factoring, it felt like a weight had been lifted from 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. He could feel it all fading away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was there, he was on the right path, and he was working to make things right.His mind wandered back to the very beginning, when he first started his business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been really successful. Offering home cooking in his own hometown, his business had really prospered.But it wasn't what he really wanted to do. 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 Moreno 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.And then the trucks went down, and his success looked to be in flux. He was about to turn fifty. He didn�t think he had it in him, to save this company. But he couldn�t give up. The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He did not want to quit - both for himself and for his staff members.And now, because of factoring, he was sure he wouldn�t have to. Gregory's eyes opened, he sat forward in his chair and turned on his computer. He had lots to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

Why Truck Companies Use Factoring Firms.

 

As the owner of your own establishment, you may perhaps be much more than mindful already of the difficulty in making sure that cash flow matters do not become a dilemma down the line. After all, the most terrible thing that can potentially take place for your enterprise is to find yourself dragged in a long and troublesome predicament that leaves you forever searching for the money you require on an continual basis.

 

For just about any enterprise in this case, the challenge can come for waiting for work to clear up and actually be paid out into your account. Statements, checks, and the like could take a while to actually to beprocessed which could leave you with short-term available resources difficulties. Luckily, there are solutions out there for industries to delve into-- and just one of these is factoring agencies.

 

Factoring agencies will, in trade for your accounts, supply you with the funds asap to make sure that you do not have to stress over the lingering phase which could make paying the bills and obtaining toolsmore hard. With this form of setup, invoice factoring can become extraordinarily helpful for a lot of establishments who have to avoid a cash ploy which they have found themselves in.

 

Given that, depending on the volume of the job, it can take up to 60 days for many companies to get compensated then it is important to take care of your own back and not leave yourself cash short to settle the costs. After all, how many enterprises possess two months profits just occupying there to pay for all their costs until they get paid?

 

This is most notably true of trucking agencies. They often tend to handle good deals of invoices which means a substantial amount of collection time entails business owner themselves. Striving to get paid off in time can eventually become an extraordinary hassle and this is why you employ trucking factoring firms who are delighted to help out truckers primarily.

 

As most of us determine, trucking is an incredibly enormous market with a lot of organizations out there utilizing hundreds of operators. However, plenty of these drivers land up in finances difficulties given that they are still anticipating work from six weeks back to actually pay them. When this is the condition for a trucking organization, choosing factoring agencies for assistance maybe the most recommended option left.

 

This indicates that a trucking business can pay the wages of the workers, keep all the trucks loaded with gas and continue to surmount, thrive and expand without consistently waiting for the income which is taking too lengthy to come in. Trucking Businesses functioning without a factoring program applied are leaving themselves at substantial danger, as competitors cash out promptly and go on to grow.

 

There's honestly very little to be worried about when it comes to making use of a Factoring firm-- they typically are not like a banking company or an individual who is going to leave you with a big pile of liability to pay back. You give them legitimate invoices from work you have already completed , you are only accelerating the payment system.

 

In the United States, where truck establishments grow, factoring enterprises are not considered accepting loan of in any capacity. This private deal then enables both parties to make money and delight in a worry-free future-- it provides the factoring firm a warranted asset of profit to add to the list and it furnishes the trucking company the needed money that they worked hard to acquire.

 

The trucking company provides their statements to the factoring enterprise. The trucking factoring firm then receive the installment payments from the trucking company's customers. Factoring has been all around for hundreds of years and has been employed for decades by plenty of different business-- but none exceeding so than truckers. While you may lose out on a small part of the money, something like 1-3 % depending upon who you partner with, it indicates that you are acquiring the finances today and can actually start setting the money to perform.

 

Anyway, an IOU or an invoice is certainly not going to cover costs, is it? For trucking firms when the finances can be good one day and gone the next, it is up to the drivers to work prudently and to make sure that they are leaving themselves with a significant measure of time and finance to get through the week up until they are paid for once again.

 

So the next occasion your trucking enterprise is having some temporary cash flow issues and you are investing excessive time chasing slowly paying clienteles, why not start looking into making use of a factoring businesses as a method to get your money and give yourself a more at ease future in the eyes of your trucking personnel and your bank dividend?

 

 

 

 

 

 

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Traditional Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. These loans can be a life-saver, but they're not always available to every business. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Once the loan is paid off, you can then apply for another loan if the need arises.

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies do not offer loans, and you do not go into debt when you get money from a Trucking Factoring company. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of 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?

 

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

 

1. There is no debt. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. 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. Receive Your 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 you do not have to worry about monthly loan repayments, and you do not have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very efficient at debt collecting, and this frees up your valuable time to devote to running your company.

 

In addition, since the Trucking Factoring company evaluates the credit quality of your customers prior to purchasing the accounts receivable you gain valuable information into which customers are likely to pay and which ones are not so likely to pay.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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