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What Your Banker Doesn't Want You to Know - Our Trucking Factoring Company Can Provide
Your Truck Company The Money Your Company Needs

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Medium-Size freight companies, especially those who have actually not been in existence for really long, will typically find it difficult to secure a loan. Banks are frequently reluctant to lend cash to companies that do not have a great deal of earnings and possessions. They likewise want proof of the practicality of a company and therefore need that many operations, especially little ones, been around for a particular quantity of time before they are ready to turn over any money. Since of this, a medium-size company often has a couple of money producing choices when requires arise. One option offered, however commonly ignored, is invoice factoring. This is an excellent way for a small business to obtain money.

 

 

 

 

 

 

 

Great New Discovery Kills Cash Flow Problems Quick! - Select A Receivable Loan C0mpany Instead Of A Typical Bank Financing

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

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

Cash flow does not have to be a problem any ever more. Do not be deceived -- banks are not the only locations you can get financing. Other options are offered and you do not have to borrow. Exactly what is truck factoring ? One option is called truck factoring. Trucking Factoring is the process of selling accounts receivable to an investor rather than waiting to collect the money from the customer. Oh, the Irony- Truck factoring has a paradoxical difference: It is the financial foundation of numerous of America's most successful businesses. Why is this paradoxical ? Since accounts receivable factoring is not taught in business colleges, is seldom mentioned in company strategies and is fairly unidentified to the majority of most of American business individuals.

Yet it is a monetary process that frees billions of dollars every year, enabling countless businesses to grow and succeed. Invoice Factoring has been around for thousands of years. Staffing Factoring Companies 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 financial obligation your customer has agreed pay in the near future. Factoring Principals--Although factoring deals solely with business-to-business transactions, a large percentage of the retail business uses a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail transactions. Utilizing the purest definition of the word, these big customer finance companies are truly simply large Receivable Loan Funding Businesses of customer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The shop makes money practically immediately, even though you do not make payment up until you are ready.

For this service, the charge card business charges Sears a fee (typical common normal charges vary from two to four percent of the sale). The Advantages Receivable Financing can offer numerous benefits to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on an item that has actually already been provided, a company can factor (sell) its receivables for cash at a little discount off the dollar value of the invoice. Payroll, marketing efforts, and working capital are simply a few of the business needs that can be met with instant  money.

Invoice Factoring offers the ways for a manufacturer to renew inventory and make more items to sell: There is no longer a requirement to await for earlier sales to be paid. FACTORING is not just a money management tool for producers: Almost any kind business can benefit from Truck Factoring. Typically, a business that extends credit will have 10 to 20 percent of its annual sales bound in invoices at any given time. Think for a moment about how much is bound in 60 days' worth of invoices: You can not pay the power expense or today s payroll with a client s invoice, however you can sell that invoice for the cash to meet those obligations. Using truck factoring companies is a fast and easy process. The factoring company buys the invoice at a discount, usually a couple of percentage points less than the stated value of the invoice.

 

 

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The American Truck Association
states that there around
200,000 workers with transportation
companies and
250,000 personal providers trucking
companies accredited to
run in the U.S. that carried,
according to their most current data of millions
items, supplies and
fundamental products .
There are a number of typical
carriers either going solo or in
teams on our nation
roads transferring these
vital items to our
stores, factories and shipping ports.

Plus freight invoice factoring
firms service
countless of them and offer their
accounts receivablesfinancing facilities
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

 

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Raleigh's industrial base includes banking/financial services; electrical, medical, electronic and telecommunications equipment; clothing and apparel; food processing; paper products; and pharmaceuticals. Raleigh is part of North Carolina's Research Triangle, one of the country's largest and most successful research parks, and a major center in the United States for high-tech and biotech research, as well as advanced textile development. The city is a major retail shipping point for eastern North Carolina and a wholesale distributing point for the grocery industry.Raleigh, NC is number three on the 2013 List for being the best place for businesses and careers. Companies based in Raleigh include BB&T Insurance Services, Capitol Broadcasting Company, Carquest, In April referred to Raleigh as ""a real concentration of brain power. You have a lot of smart people living in the same place. That will drive the economyRaleigh is the capital of the state of North Carolina as well as the seat of Wake County. Raleigh is known as the ""City of Oaks"" for its many oak trees, which line the streets in the heart of the city. The city covers a land area of 142.8 square miles (370 km2). According to the U.S. Census Bureau, the city's 2012 estimated population was 423,179, making Raleigh the 42nd most populous city in the United States. It is also one of the fastest-growing cities in the country. The city of Raleigh is named after Sir Walter Raleigh, who established the lost Roanoke Colony in present-day Dare County.Raleigh is home to North Carolina State University and is part of the Research Triangle area, together with Durham (home of Duke University) and Chapel Hill (home of University of North Carolina at Chapel Hill). The ""Triangle"" nickname originated after the 1959 creation of the Research Triangle Park, located in Durham & Wake Counties partway between the three cities and their universities. The Research Triangle region encompasses the U.S. Census Bureau's Raleigh-Durham-Chapel Hill Combined Statistical Area (CSA), which had an estimated population of 2,037,430 in 2013. The Raleigh Metropolitan Statistical Area (MSA) had an estimated population of 1,214,516 in 2013.Most of Raleigh is located within Wake County, with a very small portion extending into Durham County. The towns of Cary, Morrisville, Garner, Auburn, Clayton, Wake Forest, Apex, Holly Springs, Fuquay-Varina, Willow Springs, Knightdale, Wendell, Zebulon, and Rolesville are some of Raleigh's primary nearby suburbs and satellite towns.Raleigh is an early example in the United States of a planned city, chosen as the site of the state capital in 1788 and incorporated in 1792 as such. The city was originally laid out in a grid pattern with the North Carolina State Capitol in Union Square at the center. In the United States Civil War the city was spared from any significant battle, only falling in the closing days of the war, though it did not escape the economic hardships that plagued the rest of the American South during the Reconstruction Era. The twentieth century saw the opening of the Research Triangle Park in 1959, and with the jobs it created the region and city saw a large iux of population, making it one of the fastest growing communities in the United States by the early 21st century.Raleigh is home to numerous cultural, educational, and historic sites. The Progress Energy Center for the Performing Arts in Downtown Raleigh features three theater venues and serves as the home for the North Carolina Symphony. Walnut Creek Amphitheatre is a large music amphitheater located in Southeast Raleigh. Museums in Raleigh include the North Carolina Museum of Art in West Raleigh, as well as the North Carolina Museum of History and North Carolina Museum of Natural Sciences located next to each other near the State Capitol in Downtown Raleigh. Several major universities and colleges call Raleigh home, including North Carolina State University, the largest public university in the state, and Shaw University, the first historically black university in the American South and site of the foundation of the Student Nonviolent Coordinating Committee, an important civil rights organization of the 1960s. One U.S. president, Andrew Johnson, was born in Raleigh.

 

"

 

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Factoring Companies Calculator
This calculator will show you how much you will make by using our Factoring Companies . But, as your about to discover, you will certainly notice the increased cash flow that will occur when you use our Factoring Companies
Enter the principal balance of your Factoring Companies
(call your Factoring Companies lender and ask for the current payoff amount):
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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.

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

 

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.

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.

 

"

Brown Truck and Haul has been in business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the heady times from 2002 to 2007, Brown was a top rated accounts receivable mastermind of the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. Cash was flowing and times were good for all.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed down. And worse yet, Brown 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, William Martin, CEO of Brown 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 something wrong or different when it came to reaching out to delinquent 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 Brown 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. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Brown hadn't gone elsewhere. They had just gone home.This current state-of-affairs was causing William Martin to have some very restless nights. 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. After work he would confide in his wife, Elizabeth, and neither were unable to stop the constant worry over the lack of funds.""Lin, I have a really bad feeling,"" he would say with deep woe.""Well, what do you think it is?"" she would say.William 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 know what it is,"" said William. ""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."" Linda could only grab her husband's hand and look at him lovingly, ""it is a hard economy. It might be awhile until things get settled up.

 

""Elizabeth was trying so hard to support her husband in these worrying times, while William was weighed down with the worry of how he was going to handle this situation he found himself in.The following day William walked into his office with a spring in his step, determined to call each and every client who owed money to Brown Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and William knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. A waste of time - a waste of money - he had the best intentions, but all the while William was realising just how much trouble he was in.Poor William 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.

 

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

 

""Of course Emma, please come in."" William leaned back in his chair and looked expectantly at Emmaerely.""Well William, this afternoon I did some research, trying to work out how we are going to get out of this mess."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard the word factoring?"" she asked.""It does sound vaguely familiar. What is factoring""? he asked.""Well,"" she began, ""It�s actually quite simple really.

 

Basically, factoring invoices means that we would get paid immediately for the loads we haul.""William interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""it is actually very simple. We can have an expert account manager review our numbers and help us complete a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It provides a very broad view.""I see,� William 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. The company will advise us the cost to purchase factoring for our company's accounts receivable. We come to an agreement and the funding starts pouring out.�Leaning forward, William studied the documents very closely.""It sounds too good to be true, Emma,"" he said.""Yes, I know; that's exactly what I thought at the beginning. But think about it, William: 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 William,"" she underlined a paragraph on the paper before him.""Just how flexible?"" asked William.""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. ""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" William said.He took a deep breath and looked at his secretary with something she recognized as hope.""Precisely�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""William took a moment to think about this solution, and agreed with his secretary. The clients who owed them money were long standing friends and professional resources of Brown. William wasn't prepared to lose these relationships just because they were having financial issues at the moment. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. That unknown amount of time 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 Emma, thank you."" Emma nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.William stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. What other issues could freight factoring help Brown 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. William was surprised: it said that his company could get up to fifty percent cash advances on load pickups. William 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 Mark about this,"" muttered William to himself.Mark is William's son-in-law, and he really admired the ideas behind Brown, so much so that only two years before he had started his own transportation service business. At that time William knew the struggles Mark would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Brown was struggling then the little guys, like Mark, were going to be in even more trouble. But, an antidote may have been found in freight factoring and William was soon 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, William 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 used that time to refocus their efforts in being competitive in new territories. William looked back on the dismal months of life before freight factoring and almost shuddered at the thought. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

"

Raleigh's industrial base includes banking/financial services; electrical, medical, electronic and telecommunications equipment; clothing and apparel; food processing; paper products; and pharmaceuticals. Raleigh is part of North Carolina's Research Triangle, one of the country's largest and most successful research parks, and a major center in the United States for high-tech and biotech research, as well as advanced textile development. The city is a major retail shipping point for eastern North Carolina and a wholesale distributing point for the grocery industry.Raleigh, NC is number three on the 2013 List for being the best place for businesses and careers. Companies based in Raleigh include BB&T Insurance Services, Capitol Broadcasting Company, Carquest, In April referred to Raleigh as ""a real concentration of brain power. You have a lot of smart people living in the same place. That will drive the economyRaleigh is the capital of the state of North Carolina as well as the seat of Wake County. Raleigh is known as the ""City of Oaks"" for its many oak trees, which line the streets in the heart of the city. The city covers a land area of 142.8 square miles (370 km2). According to the U.S. Census Bureau, the city's 2012 estimated population was 423,179, making Raleigh the 42nd most populous city in the United States. It is also one of the fastest-growing cities in the country. The city of Raleigh is named after Sir Walter Raleigh, who established the lost Roanoke Colony in present-day Dare County.Raleigh is home to North Carolina State University and is part of the Research Triangle area, together with Durham (home of Duke University) and Chapel Hill (home of University of North Carolina at Chapel Hill). The ""Triangle"" nickname originated after the 1959 creation of the Research Triangle Park, located in Durham & Wake Counties partway between the three cities and their universities. The Research Triangle region encompasses the U.S. Census Bureau's Raleigh-Durham-Chapel Hill Combined Statistical Area (CSA), which had an estimated population of 2,037,430 in 2013. The Raleigh Metropolitan Statistical Area (MSA) had an estimated population of 1,214,516 in 2013.Most of Raleigh is located within Wake County, with a very small portion extending into Durham County. The towns of Cary, Morrisville, Garner, Auburn, Clayton, Wake Forest, Apex, Holly Springs, Fuquay-Varina, Willow Springs, Knightdale, Wendell, Zebulon, and Rolesville are some of Raleigh's primary nearby suburbs and satellite towns.Raleigh is an early example in the United States of a planned city, chosen as the site of the state capital in 1788 and incorporated in 1792 as such. The city was originally laid out in a grid pattern with the North Carolina State Capitol in Union Square at the center. In the United States Civil War the city was spared from any significant battle, only falling in the closing days of the war, though it did not escape the economic hardships that plagued the rest of the American South during the Reconstruction Era. The twentieth century saw the opening of the Research Triangle Park in 1959, and with the jobs it created the region and city saw a large iux of population, making it one of the fastest growing communities in the United States by the early 21st century.Raleigh is home to numerous cultural, educational, and historic sites. The Progress Energy Center for the Performing Arts in Downtown Raleigh features three theater venues and serves as the home for the North Carolina Symphony. Walnut Creek Amphitheatre is a large music amphitheater located in Southeast Raleigh. Museums in Raleigh include the North Carolina Museum of Art in West Raleigh, as well as the North Carolina Museum of History and North Carolina Museum of Natural Sciences located next to each other near the State Capitol in Downtown Raleigh. Several major universities and colleges call Raleigh home, including North Carolina State University, the largest public university in the state, and Shaw University, the first historically black university in the American South and site of the foundation of the Student Nonviolent Coordinating Committee, an important civil rights organization of the 1960s. One U.S. president, Andrew Johnson, was born in Raleigh.

 

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More Trucking Factoring Companies Story Articles

"

The Future of a Trucking Company, and Factoring The phone was ringing on his desk, and Scott Lopez just sat there letting it ring. His morning coffee cooled and his cigarette smoked away in the tray: Scott is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Lopez 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 Scott's father had started this business working as an owner-operator and eventually growing Lopez 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 Scott's mother had jumped into the cab at times to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. But now things were different: the company was in Scott's hands and he needed to ensure that this business would be left in great shape for his sons.

 

To move Lopez 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. Every time he had to turn down a request, Lopez Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Scott allowed himself a good hard chuckle. His father had been against placing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). 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.

 

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

 

He wondered about factoring - was this the answer for him? If he was being honest, he did not really understand how it all worked. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of 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.

 

Scott had to really consider what his next step was going to be. Scott 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. 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. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

However, it all turned out to be very simple. 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. 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 was good money.

 

For Scott 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. Factoring was based on the credit of his customers and on their reliability which worked well for Scott because he and his father had built up good strong relationships over decades with their list of clients. So he knew they would understand when the factoring company contacted them for the invoices. His clients would not have any problems, nor would they think poorly of Lopez 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.

 

Scott 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, Scott could actually expand Lopez Trucking Company further across the country and perhaps even go international into Canada. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

"

 

 

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Trucking Factoring  Articles

"

�So, this is not a loan?� asked Todd White, reclining back into his chair and crossing his legs. The woman sitting across the desk from Todd smiled at him, shaking her head.�No, not exactly,� she stated.Todd White owned a small trucking company, and his business had recently fallen on difficult times. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Fernando. His company was called Stevens Trucking, named after both of his grandfathers, Wesley and Clifford. They had both been hardworking men, and had done a lot to make Todd the same.Disaster had struck half a year ago, when two trucks in Fernando�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. The financial security of Fernando'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.A big problem a lot of trucking companies came across was how bills were paid in the industry. Waiting a month or longer for bills to be paid was quite normal. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Todd wasn�t a bad owner, and he hadn�t messed up. 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.That�s where the woman across the desk came in. Todd knew she was employed by a Factoring company and that her name was Lisa. Todd 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.Lisa explained. �it is really not a loan at all: we actually buy your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. This is a win-win situation: we are protected from a total loss, and you're protected from the ridiculous fees and charges you'd have to pay if you borrowed from a bank.Todd nodded. It sounded perfect - perhaps too good?.Lisa 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.�Lisa 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. Sometimes you need help. That's why we do what we do.""In any case, thank you for coming to see me.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� Lisa said with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Todd filled the form out, with Lisa available to help him if he needed it. The profile filled Lisa and her company in on Fernando�s company, and would help them determine if he was suitable for factoring. In truth, not all companies were. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. Listening as Todd filled out his form, Lisa was pretty sure he was a perfect candidate for factoring.When the form was done Lisa took it and slid it into her briefcase. Standing up, she reached over the desk and shook Fernando's hand. He also stood up, and they smiled at each other. They said their goodbyes and Todd walked her to the door, and then returned to his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He leaned back and closed his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. Talking to Lisa 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.All those long, sleepless nights. The sudden panic attacks, not matter where he was. He could feel it all fading away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was 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 really successful. Home cooking in his hometown, and he had done very well.But it wasn't what he really wanted to do. His passion didn�t lie with the food industry. He thought long and hard, and then he decided to sell the restaurant. He took half a year off, and in that time he thought to start Stevens Trucking. So he did it. For the second time in his short life he created a company from the ground up. He had been successful.And then the trucks went down, and his success looked to be in flux. He was about to turn fifty. He didn�t think he had it in him, to save this company. But he couldn�t give up. The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He did not want to quit - both for himself and for his staff members.And now, because of factoring, he was sure he wouldn�t have to. Fernando's eyes opened, he sat forward in his chair and turned on his computer. He had things 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 Truck Companies Work with Factoring Firms.

 

As the operator of your own company, you may perhaps be more than aware already of the challenge in making certain that cash flow issues do not become a difficulty down the line. After all, the most terrible thing that can in all probability take place for your company is to find yourself embroiled in a long and troublesome situation that leaves you forever trying to find the resources you really need on an continual basis.

 

For any kind of enterprise in this condition, the issue can come for waiting for work to lapse and actually be settled into your account. Bill of sales, checks, and the like can take a long time to actually to beprocessed which could leave you with momentary available resources problems. Thank goodness, there are alternatives out there for enterprises to consider-- and just one of these is factoring agencies.

 

Factoring providers will, in substitution for your statements, supply you with the funds right now to make sure that you do not need to stress over the delaying duration that could make paying off the bills and obtaining materialsmore challenging. With this type of setup, invoice factoring can come to be extraordinarily valuable for plenty of companies who need to get out of a cash ploy which they have gotten themselves in.

 

Given that, relying on the size of the task, it can take up to 60 days for many establishments to get paid then it is essential to take care of your own back and definitely not leave yourself funds short to settle the bills. After all, how many businesses have two months revenue just occupying there to address all their bills until they get paid?

 

This is primarily correct of trucking establishments. They have the tendency to take care of numbers of accounts which means a substantial volume of collection period entails business owner themselves. Trying to get compensated promptly can turn into an extraordinary headache and this is exactly why you work with truck factoring organizations who are pleased to help out truckers particularly.

 

As we all understand, trucking is an incredibly huge business with lots of agencies out there working with hundreds of operators. Regrettably, plenty of these drivers end up in income issues for the reason that they are still waiting on work from six weeks back to actually compensate them. When this is the circumstance for a truck firm, depending on factoring firms for help maybe the most effective option left.

 

This means that a trucking firm can compensate the salaries of the personnel, keep all the cars loaded with fuel and continue to surmount, thrive and expand without always waiting for the resources which is taking too lengthy to come in. Trucking Companies working without a factoring system implemented are leaving themselves at substantial hazard, as contenders cash out fast and go on to expand.

 

There's genuinely nothing to be distressed about when it comes to working with a Factoring company-- they usually are not like a bank or an individual who is going to leave you with a substantial pile of financial debt to repay. You give them legitimate invoices from job you have already accomplished , you are only quickening the repayment system.

 

In the Usa, where truck companies grow, factoring firms are not considered taking on loan in any capacity. This confidential settlement then enables both parties to benefit and take pleasure in a worry-free future-- it gives the factoring agency a secured resource of revenue to add to the list and it gives the trucking business the required funds that they sweated to earn.

 

The trucking firm gives their invoices to the factoring agency. The trucking factoring firm then receive the payments from the trucking company's clients. Factoring has beenaround for centuries and has been utilized for decades by lots of different markets-- but none exceeding so than truckers. While you might lose out on a small part of the money, something like 1-3 % depending upon who you partner with, it indicates that you are obtaining the finances today and can actually start off putting the money to work.

 

Anyway, an IOU or an invoice is not actually going to fund spendings, is it? For trucking enterprises when the money can be excellent one day and gone the next, it is up to the vehicle drivers to work prudently and to make sure that they are leaving themselves with a substantial volume of time and money to get through the week till they are handed over once again.

 

So the next instance your trucking establishment is enduring some temporary cash flow dilemmas and you are devoting an excessive amount of time chasing slowly paying clients, why not begin thinking about using a factoring companies as a method to get your money and give yourself a more at ease future in the eyes of your trucking crew and your bank dividend?

 

 

 

 

 

 

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Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. While these loans are handy they are not 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. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

What Are Trucking Factoring Companies?

 

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

 

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. 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. 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. 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. Receive Your Money Faster. Using a Trucking Factoring company means that you'll get the finance quicker. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.You receive interest up-front. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you do not have to continue to pay interest as they take it right off the top, deducting it from the total amount of accounts receivable. So 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 from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The 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 good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

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