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Little Cash Flow Leaks That Keep Companies Poor - Our Receivable Factoring Company Can Give
Your Trucking Company The Money Your Company Needs

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Medium-Size freight brokerage companies, particularly those who have actually not been in existence for extremely long, will commonly discover it difficult to protect a loan. Banks are typically reluctant to lend cash to businesses that do not have a great deal of earnings and properties. They likewise desire evidence of the practicality of a company and thus need that many operations, specifically small ones, been around for a particular amount of time prior to they are eager to hand over any money. Because of this, a medium-size company typically has few cash producing options when needs emerge. One option offered, however typically neglected, is invoice factoring. This is an exceptional means for a small business to acquire cash.

 

 

 

 

 

 

 

You Can Laugh at Money Worries - if You Follow This Simple Plan - Pick A Freight Bill�Factoring Company  Instead Of A Typical Bank Financing

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

At one time or another, every company, even effective ones, have experienced poor money flow.

Money flow does not have to be a problem any ever more. Do not be fooled -- banks are not the only locations you can get funding. Other options are available and you do not have to borrow money. What is trucking factoring ? One solution is called trucking factoring. Truck Factoring is the process of offering accounts receivable to a financier rather than waiting to collect the cash from the client. Oh, the Irony- Trucking factoring has a paradoxical distinction: It is the financial foundation of numerous of America's most successful businesses. Why is this paradoxical ? Since truck factoring is not taught in business colleges, is rarely discussed in company strategies and is relatively unidentified to the majority of most of American business individuals.

Yet it is a monetary process that frees billions of dollars every year, enabling thousands of companies to grow and succeed. Accounts Receivable Factoring has actually been around for countless years. Receivable Loan Funding Businesses are financiers who pay cash for the right to get the future payments on your invoices. An overdue receivable or invoice has value. It is a debt your client has actually agreed pay in the near future. Factoring Principals--Although factoring deals solely with business-to-business transactions, a large portion of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail deals. Utilizing the purest meaning of the word, these big consumer finance business are really just large Invoice Factoring Businesses of consumer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The shop gets paid almost immediately, even though you do not pay up until you are ready.

For this service, the charge card company charges Sears a charge (typical common normal fees range from 2 to 4 percent of the sale). The Benefits Staffing Factoring can offer many benefits to cash-hungry companies. Rather than wait 30, 60, 90 days or longer for payment on an item that has currently been delivered, a business can factor (sell) its receivables for money at a small discount off the dollar value of the invoice. Payroll, marketing efforts, and working capital are just a few of the company requirements that can be met with instant  cash.

Truck Factoring provides the ways for a producer to replenish stock and make even more items to sell: There is no longer a requirement to wait for earlier sales to be paid. FACTORING is not simply a money management device for producers: Almost any type business can benefit from Receivable Financing. Generally, a company that extends credit will have 10 to 20 percent of its annual sales bound in invoices at any given time. Think for a minute about how much is bound in 60 days' worth of invoices: You can not pay the power bill or this week s payroll with a customer s invoice, but you can sell that invoice for the cash to satisfy those responsibilities. Using truck factoring companies is a fast and simple process. The factor purchases the invoice at a price cut, typically a couple of portion points less than the face value of the invoice.

 

 

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The American Trucking Organization
states that there around
195,000 work with freight trucking
firms and
276,000 private providers trucking
firms licensed to
operate in the U.S. that transferred,
according to their latest searchings for billions of
items, materials and
basic products .
There are a number of common
providers either going solo or in
teams on our country
highways transporting these
crucial items to our
stores, factories and ports.

Plus freight bill factoring
companies service
several of them and offer their
factoring facilities
countrywideincluding
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

 

North Las Vegas is a city in Clark County, Nevada, United States, located in the Las Vegas Valley. The city was incorporated on May 16, 1946. It is near the city of Las Vegas, and is the fourth largest city in the state of Nevada. Due to its name and geographic location, North Las Vegas is often grouped with Las Vegas proper and is considered part of the Las Vegas-Paradise statistical metropolitan area.The City of North Las Vegas is proud of its longstanding tradition of maintaining a business-friendly atmosphere. Despite difficult economic conditions nationwide, North Las Vegas is paving the way to become a premier site for green sustainable industries and high-tech businesses. The city also fosters a positive environment for new small businesses and entrepreneurial endeavors. The city continues to see growth among home-based businesses and independent start .North Las Vegas has a wealth of resources for existing and prospective businesses, including strong community partnerships with agencies, such as the newly formed Las Vegas Regional Economic Development Council and the Las Vegas Metro Chamber of Commerce.North Las Vegas also boasts proximity to major transportation corridors, railways and two airports. This gives North Las Vegas businesses easy access to large and growing markets across the Western United States, including California, Arizona and Utah. Its master-planned communities, including Eldorado and Aliante, provide a variety of quality homes and amenities that allow people to live comfortably and conveniently near where they work. The Apex industrial Park is now a part of the city.Labor and workforce: Traditionally, manufacturing and warehouse distribution companies have dominated the local market. However, high-tech businesses, including leaders in solar and green technology, and custom manufacturing facilities are moving to North Las Vegas in greater numbers. New power centers and neighborhood shopping centers present commercial services jobs, while the nearby Nellis Air Force Base, casinos and hotels continue to offer excellent career opportunities.

 

 

Watch Our Freight Factoring 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:

Click below to find Trucking Companies in the United States:

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

EveryJob is a free service dedicated to helping professional truck drivers find new truck driving jobs with the best trucking companies hiring today!

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

 

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

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

 

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

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

 

Click below to find Trucking Companies in the United States:

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

Click below to find Trucking Companies in the United States:

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

 

"

Campbell Truck and Haul has been in business since the mid 1980s. 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 heady times from 2002 to 2007, Campbell was a top rated accounts receivable mastermind of the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. Cash was flowing and times were good for all.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed to a crawl

 

. Worse still, it was noticed by Campbell 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. And as spring turmed to summer and summer into the early days of fall, Henry Ramirez, CEO of Campbell 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 gone to his administrators and asked them what the problem had been. Were they doing things different, or wrong, when it came to collecting overdue accounts? By his bookkeepers records, this wasn't the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Campbell money had jumped ship and decided to leave him holding the bag.

 

. They could not afford to pay him their debt, but they could afford a lesser service, maybe. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. They had just gone home.To Henry Ramirez the situation looked desperate. He had employees to pay, goods to ship, trucks to maintain and overhead that was almost unbearable when compared against the lack of funds that were coming in. After work he would confide in his wife, Catherine, and neither were unable to stop the constant worry over the lack of funds.""I have a bad feeling, Lin,"" he would say with deep woe.""What could you do differently?"" she would ask.Henry would stare off for a moment and then close eyes. He could see the fleet of trucks he had purchased over the years. He could see them on the road, delivering good to all his loyal customers. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. What could cause this ultimate death spiral of business?""I know what it is,"" said Henry. ""For way too long I've been relying solely on profits received from invoices. For too long I've been allowing our clients to let their accounts become overdue."" All Catherine 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'.""Henry knew very well that Catherine 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 Henry strolled into his office and was determined to sit down and make every phone call to every client who had owed Campbell 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. A waste of time - a waste of money - he had the best intentions, but all the while Henry was realising just how much trouble he was in.Poor Henry spent the whole morning trying in vain to contact his debtors: they promised to call back, dodged his calls, or made small interest-only payments. He was beginning to feel quite despaired when his secretary knocked on his door.

 

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

 

""Of course Misty, please come in."" Henry leaned back in his chair and looked expectantly at Mistyerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Henry."" 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?"" Mistyerley asked.""It does sound vaguely familiar. What is factoring""? he asked.She began, ""Well, it is really very simple. So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Henry interrupted ""Immediately?"".""Immediately, yes"" she added, ""it is actually very simple. We start by having a professional account manager review our figures and help us set up a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.""I see,� Henry said. �And then what?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. There�s a lot of flexibility depending on the business volume and credit histories. This company tells us what the cost will be to purchase factoring for our accounts receivable. The funding commences once we�ve arrived at an agreement.�Henry leaned forward and reviewed the paperwork closely.""It sounds too good to be true, Misty,"" he said.""Yes, I know; that's exactly what I thought at the beginning. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. They appear to be very flexible, Henry,"" she underlined a paragraph on the paper 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. Apparently they can figure this all out in two to four days.

 

""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" said Henry.Henry took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Henry took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Campbell Truck & Haul were professional resources of the company, but they were also long-standing friends. Henry wasn't prepared to lose these relationships just because they were having financial issues at the moment. Henry knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. That unknown amount of time could create a disaster situation for both of them if he wasn't careful in how these debtors were handled. 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 Misty, thank you."" Misty nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Henry keep the shirt on his back, and possibly hers too.Henry sat behind his desk and looked over the details Misty had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Campbell 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, Campbell 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 Jeremy the good news,"" muttered Henry to himself.His son-in-law Jeremy had liked the idea of Campbell so much and revered his father in law for having such business acumen that only two years before, he had gathered the venture capital to begin his own transportation service company. Henry knew then what struggles Jeremy would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Campbell was hurting, a little guy like Jeremy was about to catch his death. But, maybe the answer for both of them was in freight factoring, and Henry was going to find out very soon.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Henry found himself beginning to dig his way out of the hole his delinquent account holders had created for him.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. Henry recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. If Henry hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

North Las Vegas is a city in Clark County, Nevada, United States, located in the Las Vegas Valley. The city was incorporated on May 16, 1946. It is near the city of Las Vegas, and is the fourth largest city in the state of Nevada. Due to its name and geographic location, North Las Vegas is often grouped with Las Vegas proper and is considered part of the Las Vegas-Paradise statistical metropolitan area.The City of North Las Vegas is proud of its longstanding tradition of maintaining a business-friendly atmosphere. Despite difficult economic conditions nationwide, North Las Vegas is paving the way to become a premier site for green sustainable industries and high-tech businesses. The city also fosters a positive environment for new small businesses and entrepreneurial endeavors. The city continues to see growth among home-based businesses and independent start .North Las Vegas has a wealth of resources for existing and prospective businesses, including strong community partnerships with agencies, such as the newly formed Las Vegas Regional Economic Development Council and the Las Vegas Metro Chamber of Commerce.North Las Vegas also boasts proximity to major transportation corridors, railways and two airports. This gives North Las Vegas businesses easy access to large and growing markets across the Western United States, including California, Arizona and Utah. Its master-planned communities, including Eldorado and Aliante, provide a variety of quality homes and amenities that allow people to live comfortably and conveniently near where they work. The Apex industrial Park is now a part of the city.Labor and workforce: Traditionally, manufacturing and warehouse distribution companies have dominated the local market. However, high-tech businesses, including leaders in solar and green technology, and custom manufacturing facilities are moving to North Las Vegas in greater numbers. New power centers and neighborhood shopping centers present commercial services jobs, while the nearby Nellis Air Force Base, casinos and hotels continue to offer excellent career opportunities.

 

 

More Trucking Factoring Companies Story Articles

"

The Future of a Trucking Company, and Factoring The phone was ringing on his desk, and Danny Myers just sat there letting it ring. He let his morning coffee cool and left his cigarette to ash itself in the tray, because he is trying to make the biggest decision ever for his trucking company. Myers Trucking Company was at a turning point of growth and Danny had to decide if signing with a factoring company was the right way forward.

 

Danny�s father had started as an owner-operator and had grown Myers 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 Danny'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 Danny�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. He had employees to pay. They all have families and the usual household bills. 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, Myers Trucking looked weak in a very strong market.

 

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

 

Danny knew he was right in his forward thinking. How would he take Myers Trucking to the next level? 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? If he was being honest, he did not really understand how it all worked. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. 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. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

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

 

But it turned out to be quite easy. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. 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. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. He was more than happy with the figures he was offered in percentage terms on the freight bills. It sounded like a great scheme to him.

 

It was really refreshing dealing with the factoring people. They were extremely helpful and more personable than the bank staff. 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. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Danny because he and his father had created a very strong and loyal list of clientele over the years. So he knew they would understand when the factoring company contacted them for the invoices. His clients wouldn�t think poorly of Myers 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.

 

Danny stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. With the capabilities of this new cash flow, Danny could actually expand Myers Trucking Company further across the country and perhaps even go international into Canada. His heart felt full knowing his sons wouldn�t have to worry about money because of the right decisions he had made for their trucking business.

 

"

 

 

 

 

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Trucking Factoring  Articles

"

�So, this is not a loan?� asked Jeffery Price, reclining back into his chair and crossing his legs. The woman sitting across the desk from Jeffery smiled at him, shaking her head.�Not quite,� she stated.Jeffery 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 Tom. He named his business Dixon Trucking, named after Adrian and Victor, his two grandfathers. They had both been hardworking men, and had done a lot to make Jeffery the same.Disaster had struck half a year ago, when two trucks in Tom�s fifteen truck fleet went down. One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. The financial security of Tom'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. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Jeffery 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. Jeffery knew she was employed by a Factoring company and that her name was Marcia. Jeffery had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.She sat there now, and explained. �It�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. 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.Jeffery nodded. It sounded good to him, almost too good.The woman laughed. �I'm not sure that you believe me,� she chuckled.�Oh no, I do: it just sounds too good to be true. I thought I was going to lose my company.�Marcia smiled, agreeing. �We get that a lot. There's no way we want to see you lose your business. We know how hard you work, and that you've invested everything in your business. We all need help sometimes. That's why we do what we do.""Well, I'm very grateful that you came to see me today.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� Marcia said with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Jeffery filled the form out, with Marcia available to help him if he needed it. The completed profile gave Marcia and her company all the information they needed on Tom's business, and with this information they would determine if this business would in fact be suitable for Factoring. Unfortunately, not all companies are. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. Listening as Jeffery filled out his form, Marcia was pretty sure he was a perfect candidate for factoring.Marcia took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Tom�s hand. He also stood up, and they smiled at each other. They said their goodbyes and Jeffery walked her to the door, and then returned to his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He 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. Talking to Marcia though, learning about factoring, it felt like a weight had been lifted from his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.The long nights, where he couldn�t sleep. The terrifying panic attacks that occurred regardless of where he was. Already he could feel all the stress start to drain away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.Jeffery couldn�t help but think back to when he had first started the business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been successful. Home cooking in his hometown, and he had done very well.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 half a year off, and in that time he thought to start Dixon Trucking. So he did it. For the second time in his short life he created 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 nearing fifty. He didn�t think he had it in him, to save this company. But giving up wasn't part of his personality either.

 

The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He did not want to quit - both for himself and for his staff members.And now it seemed as though he would not have to - all because of Factoring. Jeffery opened his eyes, sat forward, turned his computer on. He had lots to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

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More Trucking Factoring Company Story Articles

The key reasons why Trucking Corporations Employ Factoring Companies.

 

As the owner of your own establishment, you may be much more than knowledgeable already of the challenge in making sure that capital matters do not become a difficulty down the line. Anyway, the most awful thing that can possibly take place for your company is to find yourself embroiled in a long and tough condition that leaves you forever looking for the funds you need to have on an recurring basis.

 

For pretty much any firm in this instance, the complication can come for waiting for work to lapse and actually be compensated into your bank account. Invoices, checks, and the like could take some time to actually to beprocessed which can easily leave you with momentary available resources problems. Gratefully, there are solutions out there for firms to delve into-- and one of these is factoring providers.

 

Factoring companies will, in trade for your invoices, offer you with the money right away so that you do not need to worry about the lingering time span that could make paying out the expenses and purchasing toolsmore tough. With this style of setup, invoice factoring can become tremendously useful for countless establishments who need to avoid a money ploy which they have discovered themselves in.

 

Given that, depending on the scale of the job, it can take up to 60 days for several enterprises to get paid then it is very important to blanket your own back and certainly not leave yourself cash short to settle the costs. After all, how many companies have two months revenue just occupying there to deal with all their expenses till they earn?

 

This is especially correct of trucking enterprises. They generally manage good deals of invoices which means a substantial amount of collection period concerns business owner themselves. Trying to get paid in time can develop into an amazing inconvenience and this is exactly why you make use of truck factoring organizations who are thrilled to help out truckers mainly.

 

As most of us determine, trucking is an incredibly big business with a lot of firms out there working with hundreds of vehicle drivers. Regretfully, several of these drivers wind up in income dilemmas simply because they are still waiting on work from six weeks previously to actually pay them. When this is the case for a truck organization, turning to factoring agencies for help could be the most suitable choice left.

 

This signifies that a truck organization can pay off the wages of the workers, keep all the cars loaded with gas and continue to go up, thrive and expand without consistently waiting for the funds which is taking too prolonged to come in. Trucking Businesses functioning without a factoring program used are leaving themselves at considerable hazard, as competitions cash out promptly and go on to expand.

 

There's honestly not a thing to be worried about when it comes to using a Factoring agency-- they are not like a banking company or a person who is going to leave you with a massive mound of personal debt to pay back. You give them genuine invoices from work you have already accomplished , you are only just hastening the payment system.

 

In the United States, where truck establishments flourish, factoring establishments are not considered borrowing in any capacity. This private settlement then permits both groups to benefit and indulge in a convenient future-- it gives the factoring company a guaranteed resource of money to include in the list and it furnishes the trucking business the required cash that they sweated to gain.

 

The trucking establishment provides their statements to the factoring business. The trucking factoring business then receive the installment payments from the trucking company's clients. Factoring has been in existence for centuries and has been employed for decades by several diverse business-- but none much more so than truckers. While you might possibly lose out on a small part of the money, something like 1-3 % depending upon who you deal with, it implies that you are getting the finances today and can actually begin putting the funds to function.

 

Once and for all, an IOU or an invoice is absolutely not going to pay for bills, is it? For trucking agencies when the funds can be fantastic one day and gone the next, it is up to the vehicle drivers to work prudently and to guarantee they are leaving themselves with a substantial amount of time and finance to get through the week until they are paid for again.

 

So the next instance your trucking company is enduring some momentary capital troubles and you are shelling out excessive time chasing inactive paying clients, why not start off taking into consideration using a factoring businesses as a method to get your finances and give yourself a more convenient future in the eyes of your trucking workers 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. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Once the loan is paid off, you can then apply for another loan if the need arises.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once you have set up Trucking Factoring account it continues as long as you wish it too and the amount of money available to you even can grow as your business grows, giving you the ready cash you need to meet your own obligations.

 

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

 

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

 

1. There is no debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. 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. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

2. There's no collateral required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This 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. Receive Your Money Faster. Using a Trucking Factoring company means that you'll get the finance quicker. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. 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. 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. 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. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very efficient at debt collecting, and this frees up your valuable time to devote to running your company.

 

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

 

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