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My Company has 9 New Products - Imagine - Our Freight Factoring Companies Can Provide
Your Trucking Company The Money Your Company Needs

businessfinanceresource.org

freight invoice factoring

best trucking factoring

best trucking factoring company

best trucking factoring company

Factoring invoices is useful for a number of reasons. It enables a trucking business to raise money without getting brand-new debt. While financial obligation is often needed, the majority of truck companies would choose to raise money without obtaining cash. Debt is dangerous, and when it cannot be paid back, properties can be repossessed. If the debt is large enough, it could even compel a trucking companies out of business.

 

 

 

 

 

 

 

To Companies Who Want To Write - but Can't Get Started - Choose An Accounts Receivable Factoring Company Instead Of A Typical Bank Financing

Exactly how to Enhance Money Flow Without Loaning -Cash Money flow is one of the primary reasons businesses fail.

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

Cash flow does not have to be a problem any more. Do not be deceived -- banks are not the only places you can get funding. Other options are offered and you do not have to borrow money. What is truck factoring ? One solution is called trucking factoring. Truck Factoring is the procedure of selling invoices to a financier rather than waiting to gather the money from the customer. Oh, the Irony- Trucking factoring has a paradoxical difference: It is the monetary foundation of numerous of America's most effective businesses. Why is this ironic ? Because receivable loan funding is not instructed in business colleges, is seldom discussed in company plans and is relatively unidentified to bulk of most of American business individuals.

Yet it is a financial process that releases up billions of dollars every year, allowing thousands of companies to grow and prosper. Invoice Factoring has been around for countless years. Trucking Factoring Businesses are investors who pay money for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a debt your client has agreed pay in the near future. Factoring Principals--Although factoring offers solely with business-to-business transactions, a large percentage of the retail company utilizes a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail deals. Using the purest definition of the word, these large consumer finance companies are really just big Receivable Financing Businesses of consumer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The store makes money practically immediately, even though you do not pay up until you are ready.

For this service, the charge card company charges Sears a fee (typical common normal charges range from two to four percent of the sale). The Advantages Accounts Receivable Factoring can offer numerous advantages to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on a product that has actually currently been delivered, a company can factor (sell) its receivables for cash at a small discount off the dollar value of the invoice. Payroll, advertising efforts, and working capital are just a few of the business needs that can be satisfied with instant  cash.

Receivable Loan Financing offers the ways for a producer to renew inventory and make even more items to offer: There is no longer a requirement to wait for earlier sales to be paid. Receivable Loan Financing is not simply a money management tool for manufacturers: Practically any type company can benefit from Trucking Factoring. Typically, a company that extends credit will have 10 to 20 percent of its yearly sales bound in invoices 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 trucking factoring companies is a fast and easy process. The factoring company purchases the invoice at a price cut, typically a few portion points less than the stated value of the invoice.

 

 

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The American Truck Association
states that there are about
205,000 truck drivers with freight trucking
companies and
250,000 private providers trucking
firms certified to
operate in the States that transported,
according to their latest data of millions
items, materials and
basic products .
There are numerous typical
carriers either going solo or in
groups on our nation
roads transferring these
important products to our
shops, factories and harbors.

Plus trucking factoring
firms support
several of them and offer their
receivable loan facilities
nationallyincluding
including the following states.

: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho State, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming

 

St. Louis, the second-largest city in Missouri, is located in the east central part of the state on the Mississippi River. The city is independent and is not part of any county.St. Louis was founded by the French in 1764 when Auguste Chouteau established a fur-trading post and Pierre Lacl�de Liguest, a New Orleans merchant, founded a town at the present site. They named it after King Louis XV of France and his patron saint, Louis IX. From 1770 to 1803, St. Louis was a Spanish possession, but it was ceded back to France in 1803 in accordance with the Treaty of San Ildefonso (1800), only to be acquired by the U.S. as part of the Louisiana purchase later that year.The town was incorporated in 1809. From 1812 to 1821, St. Louis was the capital of the Missouri Territory, and it was incorporated as a city in 1822.John Jacob Astor opened the Western branch of the American Fur Company in 1819, and the city prospered during the early part of the 19th century as a commercial center for the fur trade. St. Louis continued to grow as a major transportation hub with the development of steamboat traffic and the later expansion of the railroads in the 1850s. The world-famous Louisiana Purchase Exposition was held here in 1904.Manufacturing is important to the city's economy, and its highly developed industries include automobiles, aircraft and space technology, metal fabrication, beer, steelmaking, chemicals, food processing, and storage and distribution.The giant stainless steel Gateway Arch, 630 ft high, standing on the banks of the Mississippi, symbolizes St. Louis as the Gateway to the WestSt. Louis is an independent city and a major United States port in eastern Missouri. The city reaches the western banks of the Mississippi River, which forms Missouri's eastern border with Illinois. At the 2010 census, St. Louis' population was 319,294 and a 2013 estimate put the population at 318,416, making it the 58th-most populous U.S. city in 2013 and the second largest city in the state. The St. Louis metropolitan area, known as Greater St. Louis (CSA), includes the city as well nearby areas in Missouri and Illinois and is among the 20 largest metropolitan areas in the United States with a population of 2,900,605.The city of St. Louis was founded in 1764 by Pierre Lacl�de and Auguste Chouteau, and named for Louis IX of France. After the Louisiana Purchase, it became a major port on the Mississippi River. In the late 19th century, St. Louis became the fourth-largest city in the United States. It seceded from St. Louis County in March 1877, allowing it to become an independent city and limiting its political boundaries. In 1904, it hosted the Louisiana Purchase Exposition and the 1904 Summer Olympics. The city's population peaked in 1950, then began a long decline that continues in the 21st century. Immigration has increased, and it is the center of the largest Bosnian population in the world outside their homeland.The economy of St. Louis relies on service, manufacturing, trade, transportation of goods, and tourism. The city is home to several major corporations, The city is commonly identified with the Gateway Arch, which is part of the Jefferson National Expansion Memorial in downtown St. Louis.

 

 

Watch Our Truck Factoring Companies YouTube Videos For More Information

 

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:

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Companies will be listed under all categories in which they provide specified Trucking Services.
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EveryJob is a free service dedicated to helping professional truck drivers find new truck driving jobs with the best trucking companies hiring today!

Locate truck driving jobs by city, state, position andenefits offered. Search current driving jobs and fill out the EZ truck driver application customized for cdl trucking jobs

 

Click below to find Trucking Companies in the United States:

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

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

 

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.

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 Chapman 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 Chapman 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. 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 down. Worse still, it was noticed by Chapman 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 Chapman, Edgar Hughes, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The number of clients who were late in their payments was continuing to grow.He had already been to the administrators to ask what the actual problem was. Were they doing things different, or wrong, when it came to collecting overdue accounts? When checking his bookkeeper's records this was definitely not the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Chapman 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 Chapman hadn't gone elsewhere. The had just gone!.The situation looked dire to Edgar Hughes. Edgar was very concerned, because there were constant overheads, goods to ship, employees to pay, and trucks which needed to be maintained, but there just wasn't the money coming back into the business. In the evenings he would discuss his concerns with his wife, Tonya, and still find no relief from the worry and frustration.

 

""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would ask.Edgar would stare off into the distance, and then slowly close his eyes. He could see the fleet of trucks he had purchased over the years. He could see them 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 Edgar. ""For way too long I've been relying solely on profits received from invoices. I've let too many of our customers go too long without paying on their bills."" All Tonya could do was hold his hand and look at him tenderly. 'We know it is a difficult economy at the moment - perhaps it will take a while for people to get on top of their bills'.""Edgar knew very well that Tonya was only trying to help, but his responsibilities weighed heavily on his shoulders and he knew he had better do something soon to resolve this situation.The next day Edgar strolled into his office and was determined to sit down and make every phone call to every client who had owed Chapman money. 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. Wasting money, wasting time - even with the best of intentions, Edgar knew that he was in trouble.

 

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 Berthaerley knocked at his door.

 

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

 

""Sure thing Bertha, come on in."" Edgar leaned back in his chair and looked expectantly at Berthaerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Edgar."" 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?"" she asked.""It does sound vaguely familiar. What is it?"" he said.""Well,"" she began, ""It�s actually quite simple really.

 

So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Edgar interrupted ""Immediately?"".""Immediately, yes"" she added, ""In a nutshell, it is pretty easy. 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. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It provides a very broad view.""I see,� Edgar 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. Once we arrive at a mutual agreement, the funding begins.�Edgar leaned forward and reviewed the paperwork closely.""I do not know, Bertha - it just sounds too good to be true"", Edgar said quietly.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Edgar: 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, Edgar,"" she drew a circle around a paragraph on the document before him.""How flexible?"" he asked.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. It only takes 2 to 4 days for this to be figured out. ""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,"" Edgar said.Edgar took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Edgar thought about this and agreed with Berthaerley. The clients who owed them money were long standing friends and professional resources of Chapman. Edgar wasn't prepared to lose these relationships just because they were having financial issues at the moment. Edgar 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. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. He did not want to lose business but he also did not want to lose any more money.""Well, let me think about this tonight Bertha, thank you."" Bertha stood up and left Edgar's office, with the nice feeling of knowing that she may just have solved a very serious problem.Edgar sat behind his desk and looked over the details Bertha had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Chapman 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. In fact, Chapman could receive up to fifty-percent cash advances upon load pick-ups. Edgar was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""Well, I'll have to tell Larry about this,"" muttered Edgar to himself.Larry is Edgar's son-in-law, and he really admired the ideas behind Chapman, so much so that only two years before he had started his own transportation service business. Edgar knew then what struggles Larry would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Chapman was struggling then the little guys, like Larry, were going to be in even more trouble.

 

But, maybe the answer for both of them was in freight factoring, and Edgar 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, Edgar found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They took that time and refocused effort to offering competitive prices in new territories. Edgar recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

St. Louis, the second-largest city in Missouri, is located in the east central part of the state on the Mississippi River. The city is independent and is not part of any county.St. Louis was founded by the French in 1764 when Auguste Chouteau established a fur-trading post and Pierre Lacl�de Liguest, a New Orleans merchant, founded a town at the present site. They named it after King Louis XV of France and his patron saint, Louis IX. From 1770 to 1803, St. Louis was a Spanish possession, but it was ceded back to France in 1803 in accordance with the Treaty of San Ildefonso (1800), only to be acquired by the U.S. as part of the Louisiana purchase later that year.The town was incorporated in 1809. From 1812 to 1821, St. Louis was the capital of the Missouri Territory, and it was incorporated as a city in 1822.John Jacob Astor opened the Western branch of the American Fur Company in 1819, and the city prospered during the early part of the 19th century as a commercial center for the fur trade. St. Louis continued to grow as a major transportation hub with the development of steamboat traffic and the later expansion of the railroads in the 1850s. The world-famous Louisiana Purchase Exposition was held here in 1904.Manufacturing is important to the city's economy, and its highly developed industries include automobiles, aircraft and space technology, metal fabrication, beer, steelmaking, chemicals, food processing, and storage and distribution.The giant stainless steel Gateway Arch, 630 ft high, standing on the banks of the Mississippi, symbolizes St. Louis as the Gateway to the WestSt. Louis is an independent city and a major United States port in eastern Missouri. The city reaches the western banks of the Mississippi River, which forms Missouri's eastern border with Illinois. At the 2010 census, St. Louis' population was 319,294 and a 2013 estimate put the population at 318,416, making it the 58th-most populous U.S. city in 2013 and the second largest city in the state. The St. Louis metropolitan area, known as Greater St. Louis (CSA), includes the city as well nearby areas in Missouri and Illinois and is among the 20 largest metropolitan areas in the United States with a population of 2,900,605.The city of St. Louis was founded in 1764 by Pierre Lacl�de and Auguste Chouteau, and named for Louis IX of France. After the Louisiana Purchase, it became a major port on the Mississippi River. In the late 19th century, St. Louis became the fourth-largest city in the United States. It seceded from St. Louis County in March 1877, allowing it to become an independent city and limiting its political boundaries. In 1904, it hosted the Louisiana Purchase Exposition and the 1904 Summer Olympics. The city's population peaked in 1950, then began a long decline that continues in the 21st century. Immigration has increased, and it is the center of the largest Bosnian population in the world outside their homeland.The economy of St. Louis relies on service, manufacturing, trade, transportation of goods, and tourism. The city is home to several major corporations, The city is commonly identified with the Gateway Arch, which is part of the Jefferson National Expansion Memorial in downtown St. Louis.

 

 

More Trucking Factoring Companies Story Articles

Factoring in the Future of a Trucking Business: A Story Randy Wood let the phone ring on his desk. His morning coffee cooled and his cigarette smoked away in the tray: Randy is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Wood Trucking Company had reached a turning point and he now had to make a decision as to whether he should sign up with a factoring company, and indeed if this would be a good or regrettable decision for his business.

 

More than forty years ago Randy's father had started this business working as an owner-operator and eventually growing Wood Trucking Company into a fifteen trailer fleet. Yes, they had survived some very difficult times when it appeared like they might go under, and even Randy'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. Now the company was solely in Randy�s hands and he wanted to live to see it in better 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 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. Every time he had to turn down a request, Wood Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Randy allowed himself a good hard chuckle. His father had been against placing 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. 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.

 

Randy believed a successful man is always thinking of his next step. What would be the next step for Wood Trucking? More importantly, how could he afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

But was factoring the answer? There was a lot he didn�t understand about the process. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Now it was time for Randy 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. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

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. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. Many companies offered a non-recourse factoring program that suited him just fine. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It was good money.

 

For Randy it was quite a relief to be dealing with the factoring company. They were more personable than those loan managers at the bank. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies didn�t worry over his credit and the debt troubles his father had had in the past of the company. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Randy because he and his father had created a very strong and loyal list of clientele over the years. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients wouldn�t think poorly of Wood Trucking and the factoring companies appeared capable of handling the accounts receivable in the same polite manner that his father had used over the years.

 

Randy stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. He suddenly realized that, with this new cash flow, he could actually expand Wood Trucking Company and who knows, move into Canada, which had always been his dream. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

 

 

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Trucking Factoring  Articles

"

�So, this is not a loan?� Ruben Young asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Ruben smiled at him, shaking her head.�No, not exactly,� she said.Ruben 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 Aaron. He named his business Franklin Trucking, named after Neil and Fernando, his two grandfathers. Both of these men had been very hardworking and had set a great example for Aaron.Disaster had struck half a year ago, when two trucks in Aaron�s fifteen truck fleet went down. One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. Ruben depended on his full fleet, and missing two trucks was devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

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.Ruben was an excellent business man, and he certainly hadn't done anything wrong. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.And that's why he found himself across the desk from this woman. Her name was Charlotte and she worked for a factoring company. He had accidentally come across her company one night when he was working late, searching the internet to see if there was some solution to his financial dilemma.Charlotte explained. �It�s not a loan, we purchase 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.Ruben nodded. It sounded good to him, almost too good.Charlotte laughed. �I'm not sure that you believe me,� she said.�No, I do, I just think it sounds a bit too good to be true. I actually thought I might end up losing my business.�Charlotte nodded. �We get that a lot. Listen, I�d hate to see you lose your company. We know how hard you work, and that you've invested everything in your business. Sometimes you need help. That�s what we�re here for.""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,� Charlotte said with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Ruben completed the form, with Charlotte offering advice as needed.

 

The completed profile gave Charlotte and her company all the information they needed on Aaron'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. As Ruben completed his form, Charlotte listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Charlotte took it and slid it into her briefcase. She then stood, reached across the desk and shook Aaron�s hand. He also stood up, and they smiled at each other. Ruben walked Charlotte to the door where they said 'Goodbye', then he went back into his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He shut 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 Charlotte and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.All those long, sleepless nights. The terrifying panic attacks that occurred regardless of where he was. Already he could feel all the stress start to drain away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.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 it wasn't what he really wanted to do. He wasn't passionate about the food industry. He thought long and hard, and then he decided to sell the restaurant. He took six months off, and during that time he decided to create Franklin Trucking. So he did it. 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 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, because of factoring, he was sure he wouldn�t have to. Ruben opened his eyes, sat forward, turned his computer on. 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

Precisely why Trucking Agencies Employ Factoring Firms.

 

As the operator of your own business enterprise, you may be much more than knowledgeable already of the difficulty in making certain that capital issues do not become a problem down the line. Anyway, the worst thing that can possibly happen for your establishment is to find yourself involved in a long and perplexing situation that leaves you forever trying to find the funds you necessitate on an continuous basis.

 

For virtually any enterprise in this scenario, the complication can come for waiting for work to lapse and actually be provided into your balance. Invoices, checks, and the like could take some time to actually to beprocessed which can easily leave you with short-term capital troubles. Luckily, there are alternatives out there for companies to examine-- and among these is factoring companies.

 

Factoring companies will, in exchange for your statements, provide you with the cash right away to ensure that you do not need to stress over the lingering time frame that could make paying out the expenses and obtaining toolsmore challenging. With this kind of system, invoice factoring can come to be extremely valuable for a lot of companies who need to get out of a cash lure which they have discovered themselves in.

 

Due to the fact that, depending upon the size of the job, it can take up to 60 days for many enterprises to get compensated then it is necessary to take care of your own back and definitely not leave yourself funds short to settle the costs. After all, how many business enterprises have two months cash flow just occupying there to cover all their overheads till they get paid?

 

This is most notably correct of truck companies. They often deal with good deals of invoices which means a notable volume of collection time entails business owner themselves. Seeking to get paid promptly can develop into an extraordinary headache and this is precisely why you make use of truck factoring companies who are thrilled to help out truckers particularly.

 

As all of us determine, trucking is an exceptionally enormous business with many agencies out there employing hundreds of operators. However, numerous of these drivers end up in finances predicaments since they are still expecting work from six weeks in the past to actually pay them. When this is the situation for a trucking agency, choosing factoring agencies for assistance might be the most suitable alternative left.

 

This implies that a trucking firm can pay the paychecks of the personnel, keep all the vehicles refilled with gas and continue to go up, rise and expand without constantly waiting for the cash which is taking too long to come in. Trucking Business enterprises operating without a factoring program used are leaving themselves at substantial risk, as contenders cash out quickly and carry on to develop.

 

There's honestly almost nothing to be troubled about when it comes to making use of a Factoring establishment-- they are not like a financial institution or a person who is going to leave you with a huge mass of debt to repay. You give them authentic invoices from work you have already finished , you are simply accelerating the payment process.

 

In the United States, where trucking enterprises prosper, factoring providers are not considered borrowing in any capacity. This confidential contract then enables both groups to make money and delight in a comfortable future-- it gives the factoring firm a warranted asset of money to include in the list and it furnishes the trucking company the needed cash that they worked hard to generate.

 

The trucking company bestows their invoices to the factoring enterprise. The trucking factoring company then take the payments from the trucking company's customers. Factoring has beenaround for centuries and has been utilized for decades by lots of diverse fields-- but none more so than truckers. While you may miss out on a small part of the money, something like 1-3 % depending upon who you team up with, it implies that you are receiving the funds today and can actually begin putting the resources to work.

 

After all, an IOU or an invoice is not actually going to finance expenses, is it? For trucking enterprises when the cash can be really good one day and gone the next, it is up to the drivers to work smartly and to make sure they are leaving themselves with a substantial amount of time and money to get through the week until they are compensated once again.

 

So the next period your trucking establishment is enduring some short-term cash flow concerns and you are spending too much time chasing slowly paying clienteles, why not begin thinking of making use of a factoring companies as a method to get your money and give yourself a more comfortable future in the eyes of your trucking staff and your bank difference?

 

 

 

 

 

 

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Traditional Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. These loans can be a life-saver, but they're not always available to every business. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

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. 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 a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

What Are The Benefits Of A Trucking Factoring Company Versus A Traditional Bank Loan?

 

While not every business can take advantage of Trucking Factoring account financing (you have to have a business that has account receivables) for those that can use this type of financing there are several distinct benefits.

 

1. 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. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. There's 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. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.

 

4.Interest is Paid 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 not only are you relieved of those monthly loan payments, but you also do not have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a bank. The most important benefits is that once you sell your accounts receivable to the factory company, you do not have to take time away from running your business to collect the money owed from reluctant to pay customers. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

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

 

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Factoring Companies by City

New York City

Los Angeles


Chicago


Houston


Philadelphia


Phoenix


San Antonio


San Diego


Dallas


San Jose

Austin


Jacksonville


Indianapolis


San Francisco


Columbus


Fort Worth


Charlotte


Detroit


El Paso


Memphis

 

 

Boston


Seattle


Denver


Washington DC


Nashville-Davidson


Baltimore


Louisville/Jefferson


Portland


Oklahoma City


Milwaukee


Las Vegas


Albuquerque


Tucson


Fresno


Sacramento


Long Beach


Kansas City


Mesa


Virginia Beach


Atlanta

 

Colorado Springs


Raleigh


Omaha


Miami


Oakland


Tulsa


Minneapolis


Cleveland


Wichita


Arlington

 

New Orleans

Bakersfield

Tampa

Honolulu

Anaheim

Aurora

Santa Ana

St. Louis

Riverside

Corpus Christi

Pittsburgh

Lexington Fayette

Anchorage

Stockton

Cincinnati

St. Paul

Toledo


Newark

Greensboro

Plano

Henderson

Lincoln

Buffalo

Fort Wayne

Jersey

Chula Vista

Orlando

St. Petersburg

Norfolk

Chandler

Laredo

Madison

Durham

Lubbock

Winston Salem

Garland

Glendale

Hialeah

Reno

Baton Rouge

Irvine

Chesapeake

Irving

Scottsdale

North Las Vegas

Fremont

Gilbert town

San Bernardino

Boise

Birmingham

Rochester

Richmond

Spokane

Des Moines

 

 

 

 

 

Philadelphia

 

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