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Check the Kind of Bank Account You Want - Our Truck Factoring Companies Can Provide
Your Freight Company The Cash You Need

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Factoring invoices is helpful for numerous reasons. It permits a trucking business to raise money without getting new debt. While financial obligation is occasionally essential, many trucking companies would like to raise cash without obtaining cash. Financial obligation is risky, and when it can not be paid back, properties can be repossessed. If the financial obligation is big enough, it may even force a freight broker firm out of business.

 

 

 

 

 

 

 

How To Get Financing Without a Lawyer for Under One Dollar - Choose A Truck�Factoring Company  Instead Of A Regular Bank Funding

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

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

Money flow does not have to be a problem any more. Do not be deceived -- banks are not the only locations you can get financing. Other solutions are offered and you do not have to borrow money. Exactly what is trucking factoring ? One option is called trucking factoring. Trucking Factoring is the process of offering accounts receivable to an investor instead of waiting to collect the cash from the customer. Oh, the Irony- Truck factoring has a paradoxical difference: It is the financial backbone of numerous of America's most successful companies. Why is this paradoxical ? Because commercial factoring is not taught in business colleges, is rarely discussed in business plans and is relatively unidentified to the majority of most of American business individuals.

Yet it is a financial procedure that releases up billions of dollars every year, allowing countless businesses to grow and prosper. Truck Factoring has been around for thousands of years. Staffing Factoring Companies are financiers who pay money for the right to get the future payments on your invoices. An unpaid receivable or invoice has value. It is a debt your customer has actually to pay in the near future. Factoring Principals--Although factoring deals solely with business-to-business deals, a big percentage of the retail company utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail deals. Using the purest definition of the word, these big consumer finance companies are truly simply big Factoring Businesses of consumer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The shop gets paid almost instantly, although you do not make payment up until you are prepared.

For this service, the credit card company charges Sears a charge (typical common normal fees range from 2 to 4 percent of the sale). The Benefits Receivable Loan Funding can offer numerous advantages to cash-hungry companies. Rather than wait 30, 60, 90 days or longer for payment on an item that has already been provided, a company can factor (sell) its receivables for cash at a little price cut off the amount of the invoice. Payroll, advertising efforts, and working capital are simply a few of the business needs that can be satisfied with instant  cash.

Receivable Loan Funding provides the means for a manufacturer to replenish stock and make even more products to sell: There is no longer a requirement to wait for earlier sales to be paid. FACTORING is not just a cash management tool for manufacturers: Almost any type company can benefit from Commercial 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 moment 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 client s invoice, but you can sell that invoice for the money to meet those responsibilities. Using trucking factoring companies is a fast and easy process. The factor buys the invoice at a discount, typically a few portion points less than the face value of the invoice.

 

 

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The U.s. Truck Association
states that there around
195,000 truck drivers with freight trucking
companies and
300,000 personal companies trucking
firms accredited to
operate in the States that carried,
according to their most current listings of millions of
products, supplies and
fundamental materials .
There are several typical
providers either going solo or in
groups on our country
highways transferring these
crucial products to our
stores, factories and harbors.

Plus trucking factoring
companies support
countless of them and offer their
factoring services
nationwidecomprising
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

 

"

Fort Worth, city (1990 pop. 447,619), seat of Tarrant co., N Tex., on the Trinity River 30 mi (48 km) W of Dallas; settled 1843, inc. 1873. An army post was established on the site in 1847, and after the Civil War became an Old West cow town. The first railroad (completed 1876) helped establish Fort Worth as a meatpacking and cattle-shipping point, and it soon also became a center for milling and shipping wheat. In 1919 oil was discovered to the west, and refineries and related installations were built. Fort Worth, which in its rivalry with Dallas calls itself the city ""where the West begins,"" has been financially revitalized since the construction of major industrial parks in the 1980s, and suburban expansion continues. Oil and gas, cattle, and grain remain important, but newer industries, such as aerospace and electronic equipment manufacture, wholesaling and distribution, transportation, communications, and food processing, have led economic development. The airline industry is critical, with both the Dallas�Fort Worth International Airport and Alliance cargo airport in or near the city;is based there.Fort Worth is the seat of Texas Christian Univ., Texas Wesleyan Univ., and a Baptist seminary. The Tarrant County Convention Center, Kimbell Art Museum, Amon Carter Museum, Modern Art Museum of Fort Worth, quadrennial Van Cliburn International Piano Competition, Texas Motor Speedway, Bass Performance Center (in Sundance Square), and the old stockyards are among its visitor attractions.

 

"

 

Watch Our Freight Factoring YouTube Videos For More Information

 

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

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

 

The largest trucking companies in the U.S. set a revenue record in 2013, but revenuegrowth slowed for the second year in a row.

The combined revenue of the 50 largest motor carriers rose to $106.6 billion last year, according to The Top 50 Trucking Companies list, based on data prepared by Consulting Group in Pittsburgh.

 

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

 

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

 

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

 

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

 

 

"

Since the mid 1980s Greene 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 Greene Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. The money was flowing, and times were great.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed to a crawl

 

. And worse yet, Greene 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, Ricardo Perkins, CEO of Greene felt a chill go down his spine whenever he would look at the weekly A/R reports. The numbers of clients who owed him back debt were growing.He had already been to the administrators to ask what the actual problem was. Were they doing things different, or wrong, when it came to collecting overdue accounts? By his bookkeepers records, this wasn't the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. They could not afford to pay him their debt, but they could afford a lesser service, maybe. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Greene hadn't gone elsewhere. The had just gone!.The situation looked dire to Ricardo Perkins. There were goods to ship, employees to pay, trucks to repair and maintain, and continuous overheads that were very extensive when compared to the funds (or lack of) that were incoming. In the evenings he would discuss his concerns with his wife, Jeanette, 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.Ricardo 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 traveling, bringing goods to all of his clients. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. Why couldn�t he work out how to resolve this financial problem with his business?""I think I know what it could be,"" Ricardo said. ""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."" All Jeanette 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'.""Ricardo knew very well that Jeanette was only trying to help, but his responsibilities weighed heavily on his shoulders and he knew he had better do something soon to resolve this situation.The following day Ricardo walked into his office with a spring in his step, determined to call each and every client who owed money to Greene Truck & Haul. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. Wasting money, wasting time - even with the best of intentions, Ricardo 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 Ellenerley knocked at his door.

 

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

 

""Of course Ellen, please come in."" Ricardo leaned back in his chair and looked expectantly at Ellenerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Ricardo."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard the word factoring?"" she asked.""It sounds vaguely familiar. What is it?"" he said.She began, ""Well, it is really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Immediately?"" Ricardo interrupted.""Yes, immediately,"" she continued, ""In a nutshell, it is pretty easy. We can have an expert account manager review our numbers and help us complete a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It provides a very broad view.""I see,� Ricardo 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. This company tells us what the cost will be to purchase factoring for our accounts receivable. We come to an agreement and the funding starts pouring out.�Ricardo was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Ellen,"" he said.""Now, now, I know, I thought the same thing. But think about it, Ricardo: 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 Ricardo,"" she drew a circle around a paragraph on the document before him.""How flexible?"" asked Ricardo.""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,"" said Ricardo.He took a deep breath and looked at his secretary with something she recognized as hope.""Exactly�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Ricardo took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Greene Truck & Haul were professional resources of the company, but they were also long-standing friends. Just because they were experiencing difficulties paying their own bills now, Ricardo was very concerned about losing these relationships. Ricardo 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. 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 Ellen, thank you."" Ellen nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Ricardo sat behind his desk and looked over the details Ellen had not mentioned in their meeting. What other issues could freight factoring help Greene with? Running his pencil down the sheet, he noted that the freight factoring company could assist with fuel costs, fuel advances, and fuel discount cards. In fact, Greene could receive up to fifty-percent cash advances upon load pick-ups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""I must tell Brett the good news,"" Ricardo muttered to himself.Brett is Ricardo's son-in-law, and he really admired the ideas behind Greene, so much so that only two years before he had started his own transportation service business. At that time Ricardo knew the struggles Brett would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Greene was hurting, a little guy like Brett was about to catch his death. Perhaps the antidote to these problems was in freight factoring, and they were about to find out.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Ricardo found himself beginning to dig his way out of the hole his delinquent account holders had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They took that time and refocused effort to offering competitive prices in new territories. Ricardo looked back on the dismal months of life before freight factoring and almost shuddered at the thought. If Ricardo hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

"

Fort Worth, city (1990 pop. 447,619), seat of Tarrant co., N Tex., on the Trinity River 30 mi (48 km) W of Dallas; settled 1843, inc. 1873. An army post was established on the site in 1847, and after the Civil War became an Old West cow town. The first railroad (completed 1876) helped establish Fort Worth as a meatpacking and cattle-shipping point, and it soon also became a center for milling and shipping wheat. In 1919 oil was discovered to the west, and refineries and related installations were built. Fort Worth, which in its rivalry with Dallas calls itself the city ""where the West begins,"" has been financially revitalized since the construction of major industrial parks in the 1980s, and suburban expansion continues. Oil and gas, cattle, and grain remain important, but newer industries, such as aerospace and electronic equipment manufacture, wholesaling and distribution, transportation, communications, and food processing, have led economic development. The airline industry is critical, with both the Dallas�Fort Worth International Airport and Alliance cargo airport in or near the city;is based there.Fort Worth is the seat of Texas Christian Univ., Texas Wesleyan Univ., and a Baptist seminary. The Tarrant County Convention Center, Kimbell Art Museum, Amon Carter Museum, Modern Art Museum of Fort Worth, quadrennial Van Cliburn International Piano Competition, Texas Motor Speedway, Bass Performance Center (in Sundance Square), and the old stockyards are among its visitor attractions.

 

"

 

More Trucking Factoring Companies Story Articles

Factoring in the Future of a Trucking Business: A Story Mike Sullivan let the phone ring on his desk. He let his morning coffee cool and left his cigarette to ash itself in the tray, because he is trying to make the biggest decision ever for his trucking company. Sullivan 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.

 

Mike�s father had started as an owner-operator and had grown Sullivan 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 Mike's mother had jumped into the cab at times to make hauls. His father had worked long enough to see the price of hires drop dramatically during the recession and to see the explosion of fuel prices afterwards. Now the company was solely in Mike�s hands and he wanted to live to see it in better shape for his sons.

 

To move Sullivan Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. He had employees to pay. They all have families and the usual household bills. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. He knew that turning down these requests made Sullivan Trucking look inefficient and weak in what was currently a strong market.

 

His father would have told him to wait and to take his time adding on new technology. Mike allowed himself a good hard chuckle. He remembered when his father was totally against installing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. 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.

 

Mike believed a successful man is always thinking of his next step. How would he take Sullivan Trucking to the next level? More importantly, how could he afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

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

 

Now it was time for Mike to do his homework. Mike had heard that there were companies that charged for same day money transfers and would only advance a percentage of the money owed to your company while holding the rest in a private account if they didn�t get their bill payment within 60 or so days. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. 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 didn�t mind signing 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. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. Many companies offered a non-recourse factoring program that suited him just fine. He was more than happy with the figures he was offered in percentage terms on the freight bills. It sounded like a great scheme to him.

 

For Mike it was quite a relief to be dealing with the factoring company. 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 didn�t worry over his credit and the debt troubles his father had had in the past of the company. Factoring was based on the credit of his customers and on their reliability which worked well for Mike 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 Sullivan Trucking, because the factoring companies handle themselves in such a polite and professional manner, similar to the way his father had managed the business in the past.

 

Feeling happier now, Mike stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. He suddenly realized that, with this new cash flow, he could actually expand Sullivan 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.

 

 

 

View Our Trucking Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� Ron Alexander asked as he leaned back in his chair, crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she stated.Ron 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 David. He named his business Harrison Trucking, named after Roberto and Hector, his two grandfathers. They had both been hardworking men, and had done a lot to make Ron the same.Six months ago disaster struck David's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. The financial security of David's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

You could go a month or more before bills were completely paid off. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Ron was an excellent business man, and he certainly hadn't done anything wrong. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.And that's why he found himself across the desk from this woman. Her name was Pearl and she worked for a factoring company. Ron 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.Pearl explained. �it is really not a loan at all: we actually buy your accounts receivable. we are not giving you finance to be repaid later: we are purchasing something from you, and when you can you can buy it back. That way we�re protected from a complete loss, but you�re protected from the outrageous fees you would find in a loan from the bank.Ron agreed. It sounded perfect - perhaps too good?.The woman laughed. �You look like you don�t believe me,� she chuckled.�Oh no, I do: it just sounds too good to be true. I actually thought I might end up losing my business.�Pearl nodded. �We get that a lot. Listen, I�d hate to see you lose your company. You work hard, you�ve put everything you can into it. We all need help sometimes. That�s what we�re here for.""Well, I'm very grateful that you came to see me today.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Pearl with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Ron filled the form out, with Pearl available to help him if he needed it. The completed profile gave Pearl and her company all the information they needed on David'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 Ron completed his form, Pearl listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Pearl took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook David's hand. He also stood up, and they smiled at each other. Ron walked Pearl 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 leaned back and closed his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. But now, after speaking to Pearl and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.All those long, sleepless nights. The terrifying panic attacks that occurred regardless of where he was. He could feel it all fading away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.His mind wandered back to the very beginning, when he first started his business. At twenty-two and straight out of school he had opened a restaurant. 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. His passion didn�t lie with the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took six months off, and during that time he decided to create Harrison Trucking. And that's exactly what he did. Once again he built a company from the ground up. He had been successful.And then the trucks went down, and his success looked to be in flux. He was about to turn fifty. He didn�t think he had it in him, to save this company. 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. David's eyes opened, he sat forward in his chair and turned on his computer. He had lots to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

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More Trucking Factoring Company Story Articles

Why Truck Firms Make use of Factoring Companies.

 

As the manager of your own business enterprise, you may well be much more than knowledgeable already of the difficulty in making sure that cash flow concerns do not become a predicament down the line. Anyway, the most unfortunate thing that can possibly take place for your business is to find yourself dragged in a long and hard circumstance that leaves you forever trying to find the funds you really need on an continuing basis.

 

For pretty much any enterprise in this situation, the issue can come for waiting for work to clear up and actually be compensated into your account. Invoices, checks, and the like can take a long time to actually to be taken care of which can easily leave you with temporary capital difficulties. Luckily, there are solutions out there for companies to delve into-- and one of these is factoring firms.

 

Factoring companies will, in exchange for your accounts, supply you with the funds immediately in order that you do not have to worry about the delaying period which could make paying the bills and acquiring toolsmore challenging. With this type of arrangement, invoice factoring can come to be extraordinarily useful for several firms who need to avoid a money lure which they have found themselves in.

 

Since, depending upon the volume of the job, it can take up to 60 days for several enterprises to get compensated then it is necessary to take care of your own back and certainly not leave yourself funds short to pay the expenses. After all, how many companies have two months revenue just lying there to cover all their overheads until they earn?

 

This is primarily correct of trucking firms. They often deal with bunches of statements which means a considerable volume of collection time demands company owner themselves. Attempting to get paid out promptly can develop into an extraordinary difficulty and this is exactly why you make use of trucking factoring firms who are thrilled to help out truckers mainly.

 

As most of us realize, trucking is an remarkably massive market with lots of companies out there employing hundreds of vehicle drivers. The sad thing is, several of these drivers end up in cash issues simply because they are still anticipating work from six weeks back to actually compensate them. When this is the case for a trucking agency, turning to factoring providers for solutions could be the most recommended alternative left.

 

This implies that a trucking organization can compensate the salaries of the workers, keep all the vehicles loaded with gas and continue to surmount, rise and expand without consistently waiting for the finances which is taking too prolonged to come in. Trucking Firms operating without a factoring system implemented are leaving themselves at substantial risk, as rivals cash out quickly and go on to grow.

 

There's genuinely nothing at all to be distressed about when it comes to employing a Factoring firm-- they commonly are not like a bank or a person who is going to leave you with a substantial heap of liability to repay. You give them genuine invoices from output you have already finished , you are merely quickening the repayment process.

 

In the Usa, where trucking firms prosper, factoring agencies are not considered borrowing in any capacity. This confidential contract then makes it possible for both parties to benefit and enjoy a worry-free future-- it provides the factoring agency a secured resource of cash flow to include in the list and it offers the trucking business the needed money that they worked hard to earn.

 

The trucking enterprise gives their statements to the factoring establishment. The trucking factoring firm then receive the installment payments from the trucking company's customers. Factoring has beenaround for centuries and has been used for long times by several various sectors-- but none much more so than truckers. While you might possibly miss out on a small part of the money, something like 1-3 % depending on who you partner with, it indicates that you are obtaining the money today and can actually begin setting the resources to operate.

 

Once and for all, an IOU or an invoice is certainly not going to pay for overheads, is it? For trucking firms when the resources can be great one day and gone the next, it is up to the vehicle drivers to work sensibly and to ascertain they are leaving themselves with a significant measure of time and finance to get through the week till they are compensated once again.

 

So the next period your trucking business is bearing some momentary cash flow issues and you are devoting excessive time chasing slowly paying customers, why not begin looking at utilizing a factoring businesses as a method to get your finances and give yourself a more convenient future in the eyes of your trucking team and your bank balance?

 

 

 

 

 

 

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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. 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. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Once the loan is paid off, you can then apply for another loan if the need arises.

 

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 finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to sell. Once you have set up Trucking Factoring account it continues as long as you wish it too and the amount of money available to you even can grow as your business grows, giving you the ready cash you need to meet your own obligations.

 

Benefits of a Trucking Factoring Company Vs. A 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. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. 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. 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 means that it is easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.

 

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

 

4.You receive interest up-front. With a bank loan interest continues to build, and this has to be paid the whole time you have a business loan; however with a Trucking Factoring company there is no interest - they take it right off the top by deducting it from the total amount of receivable accounts. So you do not have to worry about monthly loan repayments, and you do not have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. 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.While a Trucking Factoring company is not the only way for your business to obtain the money it needs to keep growing, it does offer a type of financing well worth considering.

 

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