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Great New Discovery Kills Cash Flow Problems Quick! - Our Freight Invoice Factoring Companies Can Provide
Your Trucking Company The Cash Your Company Needs

businessfinanceresource.org

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Small trucking companies, particularly those who have not been in existence for really long, will commonly find it tough to secure a loan. Banks are frequently reluctant to provide cash to businesses that do not have a great deal of income and properties. They also desire proof of the practicality of a company and hence need that a lot of operations, especially small ones, be in company for a specific amount of time before they are prepared to turn over any cash. Because of this, a medium-size company commonly has few cash generating alternatives when needs develop. One option available, however commonly neglected, is factoring. This is an exceptional means for a medium-size business to get cash.

 

 

 

 

 

 

 

Great New Discovery Kills Cash Flow Problems Quick! - Choose A Freight�Brokerage Factoring Company  Instead Of A Typical Bank Financing

Exactly how to Enhance Money Flow Without Loaning -Cash Money flow is among the main reasons companies fail.

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

Cash flow does not have to be an issue any ever more. Do not be fooled -- banks are not the only places you can get financing. Other solutions are available and you do not have to borrow money. What is truck factoring ? One option is called truck factoring. Truck Factoring is the procedure of offering accounts receivable to a financier rather than waiting to gather the cash from the client. Oh, the Irony- Trucking factoring has an ironic difference: It is the monetary foundation of numerous of America's most effective businesses. Why is this paradoxical ? Because trucking factoring is not taught in business colleges, is seldom discussed in business plans and is relatively unknown to bulk of most of American business people.

Yet it is a financial process that frees billions of dollars every year, allowing thousands of companies to grow and succeed. Accounts Receivable Factoring has actually been around for countless years. Factoring Companies are investors who pay money 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 actually to pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business transactions, a big portion of the retail company utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail transactions. Using the purest definition of the word, these big customer finance companies are really simply large Receivable Loan Financing Businesses of customer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The shop makes money practically instantly, although you do not pay up until you are prepared.

For this service, the charge card company charges Sears a fee (typical common normal charges vary from two to four percent of the sale). The Advantages Invoice Factoring can offer many advantages to cash-hungry companies. Rather than wait 30, 60, 90 days or longer for payment on a product that has actually currently been delivered, a business can factor (sell) its receivables for cash at a small 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 satisfied with instant  cash.

Commercial Factoring offers the means for a manufacturer to renew inventory and make even more products to sell: There is no longer a need to wait for earlier sales to be paid. FACTORING is not just a money management device for producers: Practically any kind company can benefit from Receivable Funding. Generally, a company that extends credit will have 10 to 20 percent of its annual sales bound in accounts receivable at any given time. Think for a moment about how much is tied up in 60 days' worth of invoices: You can not pay the power expense or today s payroll with a client s invoice, but you can offer that invoice for the money to meet those responsibilities. Using truck factoring companies is a quick and simple process. The factoring company purchases the invoice at a price cut, usually a couple of percentage points less than the stated value of the invoice.

 

 

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The United states Truck Association
mentions that there around
205,000 work with transportation
businesses and
276,000 personal providers trucking
firms accredited to
run in the U.S. that transported,
according to their most current data of millions
products, supplies and
basic products .
There are numerous usual
providers either going solo or in
groups on our nation
roadways transferring these
crucial items to our
stores, manufacturing facilities and harbors.

And freight factoring
businesses help
many of them and offer their
receivable loan facilities
nationallyincluding
including the following states.

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

 

Anaheim is based on a tourism economy, meaning that tourism is its main source of income. In addition to The Walt Disney Company being the city's largest employer, the Resort itself contributes about $4.7 billion annually to Southern California's economy. It also produces $255 million in taxes every year. Another source of tourism is the Anaheim Convention Center, which is home to many important national conferences. Many hotels, especially in the city's Resort district, serve theme park tourists and conventiongoers.The Anaheim Canyon business park makes up 63% of Anaheim's industrial space and is the largest industrial district in Orange County. Anaheim Canyon is also home to the second largest business park in Orange County. Anaheim Canyon houses 2,600 businesses, which employ over 55,000 workersAnaheim [key], city (1990 pop. 266,406), Orange co., S Calif., SE of Los Angeles; inc. 1870. Anaheim was founded by Germans in 1857 as an experiment in communal living. In an area once dominated by citrus and walnut groves, the city is now an industrial center, making electronic and computer equipment, plastic products, prepared foods, fabricated metal products, consumer goods, motor vehicles, and molded rubber goods. Anaheim is also one of the great tourist and convention centers in the United States. The theme park (opened 1955, with Disney's California Adventure, opened 2001) is world famous; the California Angels (baseball) and Anaheim Ducks (hockey) play in Anaheim.

 

 

View Our Factoring YouTube Video For More Information

 

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

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.

 

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

 

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

 

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

 

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

 

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

 

 

"

Since the mid 1980s Rice Truck & Haul have been successfully running their freight business. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the boom times from 2002 to 2007 Rice Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. Times were great for everyone, and the cash was flowing.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, Rice 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. Spring changed to summer, summer changed to fall, and the CEO of Rice, Marcus Moore, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The number of clients who were late in their payments was continuing to grow.He had gone to his administrators and asked them what the problem had been. Were they doing something wrong or different when it came to reaching out to delinquent accounts? By his bookkeepers records, this wasn't the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. They could not afford to pay him their debt, but they could afford a lesser service, maybe. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Rice hadn't gone elsewhere. They had just gone home.To Marcus Moore the situation looked desperate. Marcus 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. After work he would confide in his wife, Jamie, and neither were unable to stop the constant worry over the lack of funds.""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would say.Marcus would stare off for a moment and then close eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them on the road, delivering good to all his loyal customers. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. Why couldn�t he work out how to resolve this financial problem with his business?""I know what it is,"" Marcus said. ""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."" 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.

 

""Marcus 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 Marcus walked into his office with a spring in his step, determined to call each and every client who owed money to Rice Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Marcus 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 Marcus was realising just how much trouble he was in.After a half day of contacting debtors in vain - they dodged his calls or promised to call back at worst or made minimal interest-only payments at best - he was about to throw in the towel when his secretary Robertaerley knocked at his door.

 

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

 

""Sure thing Roberta, come on in."" Marcus leaned back in his chair and looked expectantly at Robertaerely.""Well Marcus, this afternoon I did some research, trying to work out how we are going to get out of this mess."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard of factoring?"" Robertaerley asked.""It does sound vaguely familiar. What is factoring""? he asked.She began, ""Well, it is really very simple. So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Immediately?"" Marcus interrupted.""Yes, immediately,"" she continued, ""In a nutshell, it is pretty easy. We can have an expert account manager review our numbers and help us complete a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. 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.""Marcus replied cautiously ""I see - and what happens then?""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. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

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.�Marcus leaned forward and reviewed the paperwork closely.""I do not know, Roberta - it just sounds too good to be true"", Marcus said quietly.""Now, now, I know, I thought the same thing. But think about it, Marcus: they've guaranteed that experts will do all the paperwork, and that will free us up to do what we should be doing - focusing on our customers in good standing, and that kind of stuff. They appear to be very flexible, Marcus,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" asked Marcus.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. 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. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" Marcus said.Marcus took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Precisely�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Marcus 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 Rice. Marcus wasn't prepared to lose these relationships just because they were having financial issues at the moment. Marcus knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. He did not want to lose business but he also did not want to lose any more money.""Well, let me think about this tonight Roberta, thank you."" Roberta nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Marcus keep the shirt on his back, and possibly hers too.Marcus stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. He wondered if there might be other problems freight factoring could help Rice Truck & Haul 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. Marcus 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.""I must tell Kelly the good news,"" Marcus muttered to himself.Kelly is Marcus's son-in-law, and he really admired the ideas behind Rice, so much so that only two years before he had started his own transportation service business. Marcus knew then what struggles Kelly would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Rice was hurting, a little guy like Kelly was about to catch his death. But, maybe the answer for both of them was in freight factoring, and Marcus was going to find out very soon.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Marcus was beginning to find his way out of the hole his debtors had created for him.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They used that time to refocus their efforts in being competitive in new territories. Marcus 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.

 

"

 

Anaheim is based on a tourism economy, meaning that tourism is its main source of income. In addition to The Walt Disney Company being the city's largest employer, the Resort itself contributes about $4.7 billion annually to Southern California's economy. It also produces $255 million in taxes every year. Another source of tourism is the Anaheim Convention Center, which is home to many important national conferences. Many hotels, especially in the city's Resort district, serve theme park tourists and conventiongoers.The Anaheim Canyon business park makes up 63% of Anaheim's industrial space and is the largest industrial district in Orange County. Anaheim Canyon is also home to the second largest business park in Orange County. Anaheim Canyon houses 2,600 businesses, which employ over 55,000 workersAnaheim [key], city (1990 pop. 266,406), Orange co., S Calif., SE of Los Angeles; inc. 1870. Anaheim was founded by Germans in 1857 as an experiment in communal living. In an area once dominated by citrus and walnut groves, the city is now an industrial center, making electronic and computer equipment, plastic products, prepared foods, fabricated metal products, consumer goods, motor vehicles, and molded rubber goods. Anaheim is also one of the great tourist and convention centers in the United States. The theme park (opened 1955, with Disney's California Adventure, opened 2001) is world famous; the California Angels (baseball) and Anaheim Ducks (hockey) play in Anaheim.

 

 

More Trucking Factoring Companies Story Articles

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

 

To move Carpenter 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. 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. He knew that turning down these requests made Carpenter Trucking look inefficient and weak in what was currently a strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Hector chuckled, thinking about his father. 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). 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.

 

Hector knew he was right in his forward thinking. What would be the next step for Carpenter Trucking? More importantly, how could he afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

But was factoring the answer? There was a lot he didn�t understand about the process. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. Without this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Hector had to really consider what his next step was going to be. Hector 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! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

However, it all turned out to be very simple. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He was quite happy to sign an exclusive contract. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. Many companies offered a non-recourse factoring program that suited him just fine. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It was good money.

 

For Hector it was quite a relief to be dealing with the factoring company. They were more personable than those loan managers at the bank. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar for a handout. The factoring companies didn�t worry over his credit and the debt troubles his father had had in the past of the company. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Hector because he and his father had created a very strong and loyal list of clientele over the years. So he knew they would understand when the factoring company contacted them for the invoices. His clients wouldn�t think poorly of Carpenter 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.

 

Hector 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 Carpenter Trucking Company and who knows, move into Canada, which had always been his dream. His heart felt full knowing his sons wouldn�t have to worry about money because of the right decisions he had made for their trucking business.

 

 

 

View Our Freight Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� Daryl Black asked as he leaned back in his chair, crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she said.Daryl 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 Cory. His company was called Harris Trucking, named after both of his grandfathers, Joe and Cory. Both of these men had been very hardworking and had set a great example for Cory.Disaster had struck half a year ago, when two trucks in Cory�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. Daryl 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 Daryl had on hand.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.Daryl 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. Daryl knew she was employed by a Factoring company and that her name was Thelma. Daryl 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.Thelma 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.Daryl agreed. It sounded perfect - perhaps too good?.The woman 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.�Thelma smiled, agreeing. �We get that a lot. There's no way we want to see you lose your business. We know how hard you work, and that you've invested everything in your business. We all need help sometimes. That�s what we�re here for.""Well, I'm very grateful that you came to see me today.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� Thelma said with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Daryl completed the form, with Thelma offering advice as needed.

 

The profile filled Thelma and her company in on Cory�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. As Daryl completed his form, Thelma listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Thelma took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Cory�s hand. He also stood up, and they smiled at each other. They said their goodbyes and Daryl 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 shut his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. Talking to Thelma 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 terrifying panic attacks that occurred regardless of where he was. He could feel it all fading away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was there, he was on the right path, and he was working to make things right.Daryl couldn�t help but think back to when he had first started the 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 he had gotten bored. His passion didn�t lie with the food industry. He thought long and hard, and then he decided to sell the restaurant. He took six months off, and during that time he decided to create Harris 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.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 giving up wasn't part of his personality either.

 

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. Cory's eyes opened, he sat forward in his chair and turned on his computer. He had lots to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

Reasons why Trucking Corporations Employ Factoring Firms.

 

As the owner of your own business, you may be more than mindful already of the difficulty in making sure that capital matters do not become a problem down the line. After all, the worst thing that can potentially occur for your business is to find yourself dragged in a long and difficult condition that leaves you forever trying to find the money you require on an continuous manner.

 

For any firm in this situation, the complication can come for waiting for work to clear up and actually be paid out into your balance. Statements, checks, and the like could take a long time to actually to beprocessed which may leave you with momentary available resources issues. Fortunately, there are alternatives out there for enterprises to delve into-- and one of these is factoring companies.

 

Factoring companies will, in substitution for your invoices, give you with the money right away so you do not need to stress over the waiting period that could make paying the bills and getting materialsmore complicated. With this kind of setup, invoice factoring can become incredibly beneficial for several establishments who ought to avoid a cash ploy which they have found themselves in.

 

Simply because, relying on the scale of the work, it can take up to 60 days for some business enterprises to get compensated then it is important to take care of your own back and certainly not leave yourself funds short to pay the bills. After all, how many enterprises have two months revenue just lying there to handle all their costs until they get paid?

 

This is most notably true of truck firms. They tend to take care of good deals of statements which means a huge quantity of collection time concerns company owner themselves. Attempting to get paid out promptly can turn into an unbelievable hassle and this is exactly why you work with trucking factoring companies who are delighted to help out truckers primarily.

 

As all of us understand, trucking is an surprisingly massive industry with numerous companies out there utilizing hundreds of drivers. Sadly, numerous of these drivers wind up in money predicaments due to the fact that they are still anticipating work from six weeks in the past to actually compensate them. When this is the scenario for a truck organization, turning to factoring firms for support could be the most effective alternative left.

 

This means that a trucking firm can provide the paychecks of the crew, keep all the trucks loaded with gas and continue to surmount, progress and expand without constantly waiting for the finances which is taking too long to come in. Trucking Companies working without a factoring system applied are leaving themselves at significant danger, as rivals cash out fast and carry on to grow.

 

There's genuinely almost nothing to be stressed about when it comes to employing a Factoring firm-- they usually are not like a bank or a person who is going to leave you with a substantial pile of personal debt to repay. You give them genuine invoices from work you have already finalized , you are only just expediting the payment system.

 

In the United states of America, where trucking establishments grow, factoring agencies are not considered accepting loan of in any capacity. This private agreement then makes it possible for both parties to profit and indulge in a worry-free future-- it provides the factoring agency a guaranteed asset of income to put into the list and it supplies the trucking company the required finances that they worked hard to obtain.

 

The trucking business provides their statements to the factoring firm. The trucking factoring firm then receive the installment payments from the trucking company's clients. Factoring has beenaround for hundreds of years and has been adopted for many years by many diverse business sectors-- but none more so than truckers. While you may well lose out on a small part of the money, something like 1-3 % depending on who you team up with, it signifies that you are getting the resources today and can actually start setting the money to work.

 

Once and for all, an IOU or an invoice is absolutely not going to fund bills, is it? For trucking companies when the money can be fantastic one day and gone the next, it is up to the vehicle drivers to work smartly and to ensure they are leaving themselves with a significant quantity of time and money to get through the week until they are paid once again.

 

So the next moment your trucking business is bearing some short-term capital issues and you are shelling out a lot of time chasing sluggish paying clients, why not start off thinking of utilizing a factoring companies as a method to get your money and give yourself a more comfortable future in the eyes of your trucking staff and your bank difference?

 

 

 

 

 

 

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Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. These loans can be a life-saver, but they're not always available to every business. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Once the loan is paid off, you can then apply for another loan if the need arises.

 

Trucking Factoring Companies

 

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

 

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

 

Not every business can benefit from Trucking Factoring account financing because you have to have a business with accounts receivable, however there are many benefits for those who can access this type of finance.

 

1. You will not Incur Debt. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. 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. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

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

 

4.You receive interest up-front. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you do not have to continue to pay interest as they take it right off the top, deducting it from the total amount of accounts receivable. So not only are you relieved of those monthly loan payments, but you also do not have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very efficient at debt collecting, and this frees up your valuable time to devote to running your company.

 

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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