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How to Swim with The Banks without Being Eaten Alive - Our Receivable Loan Company Can Give
Your Trucking Company The Money You Need

businessfinanceresource.org

best factoring companies for trucking

transportation factoring company

factoring trucking receivables

factoring trucking receivables

Factoring invoices is useful for several reasons. It allows a trucking company to raise cash without obtaining brand-new financial obligation. While debt is occasionally required, the majority of trucking companies would choose to raise cash without obtaining cash. Debt is dangerous, and when it cannot be paid back, possessions can be repossessed. If the debt is large enough, it may even require a trucking companies out of business.

 

 

 

 

 

 

 

How To Burn Off Receivables, Hour-by-Hour - Pick A Freight�Invoice Factoring Company  Instead Of A Traditional Bank Funding

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

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

Cash flow does not have to be an issue any ever more. Do not be deceived -- banks are not the only locations you can get financing. Other solutions are offered and you do not have to borrow. Exactly what is trucking factoring ? One option is called truck factoring. Truck Factoring is the process of offering accounts receivable to an investor instead of waiting to gather the cash from the customer. Oh, the Irony- Truck factoring has a paradoxical distinction: It is the monetary backbone of many of America's most successful companies. Why is this ironic ? Because commercial factoring is not instructed in business colleges, is seldom mentioned in company plans and is relatively unidentified to the majority of most of American company people.

Yet it is a monetary procedure that releases up billions of dollars every year, enabling countless companies to grow and prosper. Trucking Factoring has actually been around for thousands of years. Trucking Factoring Businesses are financiers who pay money for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your customer has actually agreed pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business deals, a big percentage 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 definition of the word, these large consumer finance business are truly just large Receivable Financing Companies of consumer paper. Consider it: You make a purchase at Sears and charge it to your MasterCard. The shop makes money almost immediately, although you do not make payment until you are ready.

For this service, the charge card business charges Sears a fee (typical common normal charges vary from two to 4 percent of the sale). The Advantages Invoice Factoring can offer numerous advantages to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on an item that has currently been provided, a company can factor (sell) its receivables for cash at a little price cut off the amount of the invoice. Payroll, marketing efforts, and working capital are simply a few of the company requirements that can be met with instant  cash.

Trucking Factoring offers the means for a producer to renew inventory and make even more products to sell: There is no longer a need to wait for earlier sales to be paid. Receivable Loan Financing is not simply a cash management tool for manufacturers: Practically any type business can take advantage of Staffing Factoring. Generally, a company that extends credit will have 10 to 20 percent of its yearly sales tied up in invoices at any given time. Think for a minute about how much is tied up in 60 days' worth of invoices: You can not pay the power expense or today s payroll with a customer s invoice, but you can sell that invoice for the cash to satisfy those responsibilities. Using trucking factoring companies is a fast and easy process. The factor buys the invoice at a price cut, usually a few portion points less than the stated value of the invoice.

 

 

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durham-factoring-companies

 

The American Truck Association
mentions that there are about
205,000 employees with truck
firms and
300,000 private companies trucking
companies licensed to
operate in the U.S. that transferred,
according to their newest data of millions
products, materials and
fundamental products .
There are several typical
carriers either going solo or in
teams on our country
roads transferring these
important products to our
shops, factories and ports.

Plus freight factoring
firms help
countless of them and offer their
receivable loan facilities
countrywidecomprising
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

 

Durham (, city (1990 pop. 136,611), seat of Durham co., N central N.C., in the Piedmont area; inc. 1867. Once a major tobacco and textile center, Durham is a research and education center. Manufacturers include medical, computer, electronic, and telecommunications equipment; plastic, paper, and lumber products; and aircraft components. The area was settled c.1750. Gen. Joseph E. Johnston surrendered nearby to Gen. William T. Sherman during the Civil War. After the war the tobacco industry began with James B. Duke as the leading manufacturer. Economic growth was spurred with the establishment (1959) of the Research Triangle Park, in the triangular area between Durham, Chapel Hill, and Raleigh, which utilizes the concentration of university research talent in those three cities. Durham is the seat of Duke Univ., North Carolina Central Univ., and Durham Technical Community College. Of interest are the Sarah P. Duke Memorial Gardens and the Children's Nature Museum. The American Dance Festival is held in the city each summer. Durham is a city in the U.S. state of North Carolina. It is the county seat of Durham County, though portions also extend into Wake County in the east and Orange County in the west. The U.S. Census Bureau estimates the city's population to be 245,475 as of July 1, 2013. It is the home of Duke University and North Carolina Central University, and is also one of the vertices of the Research Triangle area (home of the Research Triangle Park).Durham is the core of the four-county Durham-Chapel Hill Metropolitan Area. which has a population of 534,578 as of U.S. Census 2013 Population Estimates. The US Office of Management and Budget also includes Durham as a part of the Raleigh-Durham-Chapel Hill Combined Statistical Area, which has a population of 2,037,430 as of U.S. Census 2013 Population Estimates

 

 

View Our Trucking Factoring Companies YouTube Videos For More Information

 

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

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

 

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

 

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.

 

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

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

 

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

 

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

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

 

 

"

Lee Truck & Haul have been operating their 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, Lee 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. The money was flowing, and times were great.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed to a crawl

 

. Worse still, it was noticed by Lee in early 2008 that even though most of their loyal customers were on time with their payments, there were a few late bloomers who were starting to spread the disease. Spring changed to summer, summer changed to fall, and the CEO of Lee, Jason Daniels, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. There was a growing list of clients who now owed them back debt.He had gone to his administrators and asked them what the problem had been. Were they doing things different, or wrong, when it came to collecting overdue accounts? By his bookkeepers records, this wasn't the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Lee 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.This current state-of-affairs was causing Jason Daniels to have some very restless nights. Jason was very concerned, because there were constant overheads, goods to ship, employees to pay, and trucks which needed to be maintained, but there just wasn't the money coming back into the business. At night he would speak to his wife Kimberly and shake his head in frustration.

 

""I have a bad feeling, Lin,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would ask.Jason would stare off into the distance, and then slowly close his eyes. He could see the fleet of trucks he had purchased over the years. He could see them traveling, bringing goods to all of his clients. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. Why couldn�t he work out how to resolve this financial problem with his business?""I know what it is,"" said Jason. ""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 Kimberly 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'.""Jason knew his wife meant well, but he knew that he was responsible for too many people to sit idly by, waiting for the sun to peak over the clouds.The following day Jason walked into his office with a spring in his step, determined to call each and every client who owed money to Lee Truck & Haul. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. 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 Jason was realising just how much trouble he was in.Poor Jason 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.

 

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

 

""Sure thing Judy, come on in."" Jason leaned back in his chair and looked expectantly at Judyerely.""Well Jason, 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 it?"" he said.She began, ""Well, it is really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Jason interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""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.. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It�s a broad view.""I see,� Jason said. �And then what?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. There�s a lot of flexibility depending on the business volume and credit histories. This company tells us what the cost will be to purchase factoring for our accounts receivable. The funding commences once we�ve arrived at an agreement.�Leaning forward, Jason studied the documents very closely.""It sounds too good to be true, Judy,"" he said.""Now, now, I know, I thought the same thing. 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, Jason,"" she underlined a paragraph on the paper before him.""How flexible?"" asked Jason.""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.

 

""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,"" Jason said.He took a deep breath and looked at his secretary with something she recognized as hope.""Exactly�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Jason thought about this and agreed with Judyerley. The customers who were in debt to Lee Truck & Haul were professional resources of the company, but they were also long-standing friends. Just because they were experiencing difficulties paying their own bills now, Jason was very concerned about losing these relationships. 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 Judy, thank you."" Judy nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Jason 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 Lee 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. Jason was surprised: it said that his company could get up to fifty percent cash advances on load pickups. 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.""Well, I'll have to tell Marcus about this,"" muttered Jason to himself.His son-in-law Marcus had liked the idea of Lee 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. Jason knew then what struggles Marcus would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Lee was hurting, a little guy like Marcus was about to catch his death. But, maybe the answer for both of them was in freight factoring, and Jason 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, Jason 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. Jason recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. If Jason hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

Durham (, city (1990 pop. 136,611), seat of Durham co., N central N.C., in the Piedmont area; inc. 1867. Once a major tobacco and textile center, Durham is a research and education center. Manufacturers include medical, computer, electronic, and telecommunications equipment; plastic, paper, and lumber products; and aircraft components. The area was settled c.1750. Gen. Joseph E. Johnston surrendered nearby to Gen. William T. Sherman during the Civil War. After the war the tobacco industry began with James B. Duke as the leading manufacturer. Economic growth was spurred with the establishment (1959) of the Research Triangle Park, in the triangular area between Durham, Chapel Hill, and Raleigh, which utilizes the concentration of university research talent in those three cities. Durham is the seat of Duke Univ., North Carolina Central Univ., and Durham Technical Community College. Of interest are the Sarah P. Duke Memorial Gardens and the Children's Nature Museum. The American Dance Festival is held in the city each summer. Durham is a city in the U.S. state of North Carolina. It is the county seat of Durham County, though portions also extend into Wake County in the east and Orange County in the west. The U.S. Census Bureau estimates the city's population to be 245,475 as of July 1, 2013. It is the home of Duke University and North Carolina Central University, and is also one of the vertices of the Research Triangle area (home of the Research Triangle Park).Durham is the core of the four-county Durham-Chapel Hill Metropolitan Area. which has a population of 534,578 as of U.S. Census 2013 Population Estimates. The US Office of Management and Budget also includes Durham as a part of the Raleigh-Durham-Chapel Hill Combined Statistical Area, which has a population of 2,037,430 as of U.S. Census 2013 Population Estimates

 

 

More Trucking Factoring Companies Story Articles

Factoring in the Future of a Trucking Business: A Story The phone was ringing on his desk, and Jamie Kim just sat there letting it ring. His morning coffee cooled and his cigarette smoked away in the tray: Jamie is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Kim 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 Jamie's father had started this business working as an owner-operator and eventually growing Kim Trucking Company into a fifteen trailer fleet. There had been some hard times when it seemed everything was going to go under and even Jamie�s mother strapped herself into a cab 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 Jamie�s hands and he wanted to live to see it in better shape for his sons.

 

To move Kim 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 had families and household bills too. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. Every time he had to turn down a request, Kim Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Jamie allowed himself a good hard chuckle. His father had been against placing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� 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). He knew his father's days were long gone and new technology was very important for the business, like having Qualcomm to reduce communication time for bills of lading.

 

Jamie believed a successful man is always thinking of his next step. What would be the next step for Kim Trucking? 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. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

He wondered about factoring - was this the answer for him? If he was being honest, he did not really understand how it all worked. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Jamie had to really consider what his next step was going to be. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. 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. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He was quite happy to sign an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It was good money.

 

It was really refreshing dealing with the factoring people. They were more personable than those loan managers at the bank. 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 Jamie 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 wouldn�t think poorly of Kim 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.

 

Jamie stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. He suddenly realized that, with this new cash flow, he could actually expand Kim Trucking Company and who knows, move into Canada, which had always been his dream. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

 

 

View Our Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� asked Robert Gray, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she stated.Robert was the owner of a small trucking company which had fallen on some hard times recently. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Paul. He named his business Gregory Trucking, named after Alfredo and Joe, his two grandfathers. Both of these men had been very hardworking and had set a great example for Paul.Six months ago disaster struck Paul's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. Robert depended on his full fleet, and missing two trucks was devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Robert had on hand.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

Waiting a month or longer for bills to be paid was quite normal. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Robert 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. Her name was Stacey and she worked for a factoring company. He had accidentally come across her company one night when he was working late, searching the internet to see if there was some solution to his financial dilemma.Stacey explained. �It�s not a loan, we purchase your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. This is a win-win situation: we are protected from a total loss, and you're protected from the ridiculous fees and charges you'd have to pay if you borrowed from a bank.Robert nodded. It sounded good to him, almost too good.Stacey laughed. �You look like you don�t believe me,� she chuckled.�No, I do, I just think it sounds a bit too good to be true. I actually thought I might end up losing my business.�Stacey smiled, agreeing. �Yes, we get a lot of that. Listen, I�d hate to see you lose your company. We know how hard you work, and that you've invested everything in your business. We all need help sometimes. 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,� said Stacey with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Robert filled the form out, with Stacey available to help him if he needed it. The profile filled Stacey and her company in on Paul�s company, and would help them determine if he was suitable for factoring. Unfortunately, not all companies are. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. Listening as Robert filled out his form, Stacey was pretty sure he was a perfect candidate for factoring.When the form was done Stacey took it and slid it into her briefcase. Standing up, she reached over the desk and shook Paul's hand. He stood before they shook as well, and then smiled. They said their goodbyes and Robert walked her to the door, and then returned to his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He leaned back and closed his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. But now, after speaking to Stacey and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.The long nights, where he couldn�t sleep. 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. He had opened a restaurant at age twenty two when he was fresh out of school. It had been successful. Offering home cooking in his own hometown, his business had really prospered.But he had gotten bored. He wasn't passionate about the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took six months off, and during that time he decided to create Gregory Trucking. So he did it. Once again he built a company from the ground up. He had been successful.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was nearing fifty. He didn�t think he had it in him, to save this company. But he couldn�t give up. Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He 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. Paul's eyes opened, he sat forward in his chair and turned on his computer. He had lots to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

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More Trucking Factoring Company Story Articles

The key reasons why Trucking Establishments Use Factoring Companies.

 

As the operator of your own business enterprise, you may perhaps be much more than mindful already of the challenge in making certain that capital matters do not become a difficulty down the line. Anyway, the most terrible thing that can quite possibly come about for your establishment is to find yourself swept up in a long and challenging circumstance that leaves you forever searching for the cash you necessitate on an continuous basis.

 

For virtually any business enterprise in this case, the challenge can come for waiting for work to lapse and actually be provided into your statement. Invoices, checks, and the like can take some time to actually to be taken care of which can easily leave you with momentary cash flow troubles. Thankfully, there are approaches out there for industries to explore-- and among these is factoring firms.

 

Factoring companies will, in exchange for your bill of sales, supply you with the resources right now to ensure you do not have to stress over the waiting phase which could make paying off the bills and purchasing toolsmore challenging. With this style of setup, invoice factoring can end up being tremendously helpful for several companies who have to avoid a money ploy which they have gotten themselves in.

 

For the reason that, basing on the scale of the work, it can take up to 60 days for several companies to get paid then it is crucial to blanket your own back and definitely not leave yourself cash short to pay the bills. After all, how many enterprises have two months income just lying there to handle all their spendings till they earn?

 

This is primarily true of truck agencies. They usually handle numbers of invoices which means a notable amount of collection time involves company owner themselves. Making an effort to get paid promptly can turn into an extraordinary trouble and this is the reason why you employ trucking factoring agencies who are thrilled to help out truckers specifically.

 

As most of us realize, trucking is an incredibly enormous industry with lots of organizations out there working with hundreds of vehicle drivers. The sad thing is, plenty of these drivers wind up in cash dilemmas since they are still anticipating work from six weeks ago to actually pay them. When this is the situation for a truck business, consulting factoring companies for support maybe the most effective choice left.

 

This signifies that a truck business can pay off the wages of the workers, keep all the cars loaded with gas and continue to scale, develop and expand without consistently waiting for the money which is taking too long to come in. Trucking Enterprises working without a factoring program implemented are leaving themselves at substantial hazard, as rivals cash out fast and go on to broaden.

 

There's genuinely very little to be distressed about when it comes to using a Factoring agency-- they typically are not like a banking company or any individual who is going to leave you with a considerable pile of liability to pay back. You give them genuine invoices from job you have already finalized , you are only speeding up the payment process.

 

In the United States, where truck agencies prosper, factoring establishments are not considered accepting loan of in any capacity. This private deal then enables both groups to profit and enjoy a convenient future-- it provides the factoring provider a guaranteed asset of income to include in the list and it provides the trucking firm the required funds that they worked hard to acquire.

 

The trucking establishment presents their accounts to the factoring enterprise. The trucking factoring firm then obtain the installment payments from the trucking company's customers. Factoring has been in existence for centuries and has been used for many years by many various business-- but none much more so than truckers. While you could miss out on a small part of the money, something like 1-3 % depending on who you partner with, it signifies that you are acquiring the resources today and can actually start off setting the resources to perform.

 

Once and for all, an IOU or an invoice is not actually going to fund spendings, is it? For trucking companies when the hard earned cash can be really good one day and gone the next, it is up to the drivers to work prudently and to make certain they are leaving themselves with a substantial measure of time and money to get through the week until they are paid again.

 

So the next occasion your trucking establishment is enduring some momentary capital problems and you are shelling out a bit too much time chasing slow paying clients, why not start off taking into consideration utilizing a factoring businesses as a manner to get your finances and give yourself a more at ease future in the eyes of your trucking personnel and your bank balance?

 

 

 

 

 

 

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Traditional Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. 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. 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. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

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. You will not Incur Debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets to pay off a loan. 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. No Collateral Required. Another great benefit of using the services of a Trucking Factoring company instead of a bank loan is that there is no collateral required for the Trucking Factoring company, because the Trucking Factoring company is buying your accounts receivables. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

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

 

As you can see 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 most important benefits is that once you sell your accounts receivable to the factory company, you do not have to take time away from running your business to collect the money owed from reluctant to pay customers. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

Another bonus is that, because the Trucking Factoring company has evaluated the quality of your customers' credit before buying the accounts receivable, you learn valuable information regarding your customers, like which ones are likely to pay, and which ones are less likely to pay.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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Factoring Companies by City

New York City

Los Angeles


Chicago


Houston


Philadelphia


Phoenix


San Antonio


San Diego


Dallas


San Jose

Austin


Jacksonville


Indianapolis


San Francisco


Columbus


Fort Worth


Charlotte


Detroit


El Paso


Memphis

 

 

Boston


Seattle


Denver


Washington DC


Nashville-Davidson


Baltimore


Louisville/Jefferson


Portland


Oklahoma City


Milwaukee


Las Vegas


Albuquerque


Tucson


Fresno


Sacramento


Long Beach


Kansas City


Mesa


Virginia Beach


Atlanta

 

Colorado Springs


Raleigh


Omaha


Miami


Oakland


Tulsa


Minneapolis


Cleveland


Wichita


Arlington

 

New Orleans

Bakersfield

Tampa

Honolulu

Anaheim

Aurora

Santa Ana

St. Louis

Riverside

Corpus Christi

Pittsburgh

Lexington Fayette

Anchorage

Stockton

Cincinnati

St. Paul

Toledo


Newark

Greensboro

Plano

Henderson

Lincoln

Buffalo

Fort Wayne

Jersey

Chula Vista

Orlando

St. Petersburg

Norfolk

Chandler

Laredo

Madison

Durham

Lubbock

Winston Salem

Garland

Glendale

Hialeah

Reno

Baton Rouge

Irvine

Chesapeake

Irving

Scottsdale

North Las Vegas

Fremont

Gilbert town

San Bernardino

Boise

Birmingham

Rochester

Richmond

Spokane

Des Moines

 

 

 

 

 

Philadelphia

 

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