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The Instrument of Profitable Companies - Our Freight Factoring Companies Can Give
Your Truck Company The Cash You Want

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

 

 

 

 

 

 

 

How I Improved My Profits in One Evening - Choose A Freight�Brokerage Factoring Company  Instead Of A Traditional Bank Funding

How to Increase Cash Flow Without Loaning -Cash Money flow is among the main reasons businesses fail.

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

Money flow does not have to be a problem any more. Do not be deceived -- banks are not the only locations you can get funding. Other options are offered and you do not have to borrow. Exactly what is truck factoring ? One option is called trucking factoring. Trucking Factoring is the procedure of selling accounts receivable to an investor rather than waiting to gather the cash from the customer. Oh, the Irony- Trucking factoring has an ironic distinction: It is the monetary backbone of numerous of America's most effective businesses. Why is this ironic ? Because receivable loan funding is not instructed in business colleges, is rarely mentioned in company plans and is relatively unknown to the majority of most of American business individuals.

Yet it is a monetary procedure that frees billions of dollars every year, enabling countless businesses to grow and succeed. Invoice Factoring has actually been around for countless years. Invoice Factoring Companies are financiers who pay cash for the right to get the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your client has to pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business transactions, a big portion of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail transactions. Utilizing the purest meaning of the word, these big consumer finance companies are really just big Factoring Companies of customer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The store gets paid practically instantly, even though you do not pay up until you are ready.

For this service, the charge card company charges Sears a fee (typical common normal charges range from 2 to four percent of the sale). The Benefits Receivable Financing can provide many benefits to cash-hungry companies. Instead of waiting 30, 60, 90 days or longer for payment on an item that has already been provided, a company can factor (sell) its receivables for cash at a small price cut off the dollar value of the invoice. Payroll, marketing efforts, and working capital are just a few of the company needs that can be satisfied with instant  cash.

Receivable Financing provides the ways for a producer to replenish inventory and make more products to offer: There is no longer a need to await for earlier sales to be paid. Receivable Loan Financing is not simply a cash management device for producers: Practically any type business can benefit from FACTORING. Typically, a business that extends credit will have 10 to 20 percent of its annual sales tied up in accounts receivable 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 this week s payroll with a customer s invoice, however you can offer that invoice for the money to satisfy those obligations. Using truck factoring companies is a fast and simple procedure. The factor purchases the invoice at a price cut, typically a couple of portion points less than the face value of the invoice.

 

 

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The U.s. Truck Association
specifies that there around
195,000 work with transportation
firms and
300,000 personal service providers trucking
companies accredited to
run in the U.S. that carried,
according to their latest data of millions
items, materials and
basic products .
There are numerous typical
carriers either going solo or in
teams on our country
roads transferring these
vital products to our
shops, manufacturingplants and shipping ports.

Moreover trucking factoring
corporations service
countless of them and offer their
accounts receivablesfinancing services
nationwideincluding
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

 

Norfolk is an independent city in the Commonwealth of Virginia. At the 2010 census, the population was 242,803; in 2013, the population was estimated to be 246,392 making it the second-most populous city in Virginia, behind neighboring Virginia Beach.Norfolk is located at the core of the Hampton Roads metropolitan area, named for the large natural harbor of the same name located at the mouth of Chesapeake Bay. It is one of nine cities and seven counties that constitute the Hampton Roads metro area, officially known as the Virginia Beach-Norfolk-Newport News, VA-NC MSA. The city is bordered to the west by the Elizabeth River and to the north by the Chesapeake Bay. It also shares land borders with the independent cities of Chesapeake to its south and Virginia Beach to its east. One of the oldest of the cities in Hampton Roads, Norfolk is considered to be the historic, urban, financial, and cultural center of the region.The city has a long history as a strategic military and transportation point. The largest Navy base in the world, Naval Station Norfolk, is located in Norfolk along with one of NATO's two Strategic Command headquarters. The city also has the corporate headquarters of Norfolk Southern Railway, one of North America's principal Class I railroads, and Maersk Line, Limited, who manages the world's largest fleet of US-flag vessels. As the city is bordered by multiple bodies of water, Norfolk has many miles of riverfront and bayfront property, including beaches on the Chesapeake Bay. It is linked to its neighbors by an extensive network of Interstate highways, bridges, tunnels, and three bridge-tunnel complexes�the only bridge-tunnels in the United States.

 

 

Watch Our Freight Factoring YouTube Videos 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:

Click below to find Trucking Companies in the United States:

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

Click below to find Trucking Companies in the United States:

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

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

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

 

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

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

 

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.

 

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 Ryan 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 Ryan 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. Cash was flowing and times were good for all.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed down. And worse yet, Ryan had noticed during the early part of 2008 that though the bulk of their clients were always on time with payments, the few late-bloomers there were, had seemingly started to spread this illness. And as spring turmed to summer and summer into the early days of fall, Ruben Lewis, CEO of Ryan felt a chill go down his spine whenever he would look at the weekly A/R reports. The numbers of clients who owed him back debt were growing.He had gone to his administrators and asked them what the problem had been. Were they doing something wrong or different when it came to reaching out to delinquent accounts? When checking his bookkeeper's records this was definitely not the case. 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. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Ryan hadn't gone elsewhere. The had just gone!.To Ruben Lewis the situation looked desperate. He had employees to pay, goods to ship, trucks to maintain and overhead that was almost unbearable when compared against the lack of funds that were coming in. At night he would speak to his wife Tara and shake his head in frustration.

 

""Lin, I have a really bad feeling,"" he would say with deep woe.""What could you do differently?"" she would ask.Ruben 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 somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. Why couldn�t he work out how to resolve this financial problem with his business?""I think I know what it could be,"" Ruben said. ""I've relied too long on the profits I receive from invoices alone. For too long I've been allowing our clients to let their accounts become overdue."" All Tara 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'.""Ruben knew very well that Tara was only trying to help, but his responsibilities weighed heavily on his shoulders and he knew he had better do something soon to resolve this situation.The following day Ruben walked into his office with a spring in his step, determined to call each and every client who owed money to Ryan Truck & Haul. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. A waste of time - a waste of money - he had the best intentions, but all the while Ruben 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 Annerley knocked at his door.

 

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

 

""Of course Ann, please come in."" Ruben leaned back in his chair and looked expectantly at Annerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Ruben."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard the word factoring?"" she asked.""It does sound vaguely familiar. What is factoring""? he asked.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?"" Ruben interrupted.""Yes, immediately,"" she continued, ""In a nutshell, it is pretty easy. We start by having a professional account manager review our figures and help us set up a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. 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.""Ruben replied cautiously ""I see - and what happens then?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. 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. The funding commences once we�ve arrived at an agreement.�Ruben leaned forward and reviewed the paperwork closely.""I do not know, Ann - it just sounds too good to be true"", Ruben said quietly.""Yes, I know; that's exactly what I thought at the beginning. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. They appear to be very flexible, Ruben,"" she underlined a paragraph on the paper before him.""Just how flexible?"" asked Ruben.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. Apparently they can figure this all out in two to four days.

 

""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. 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,"" said Ruben.He took a deep breath and looked at his secretary with something she recognized as hope.""Exactly�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Ruben 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 Ryan. Ruben wasn't prepared to lose these relationships just because they were having financial issues at the moment. Ruben knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. That unknown amount of time could create a disaster situation for both of them if he wasn't careful in how these debtors were handled. Of course he did not want to lose any more money, but he did not want to lose business either.""Let me go over this tonight Ann, and thankyou."" Ann stood up and left Ruben's office, with the nice feeling of knowing that she may just have solved a very serious problem.Ruben sat behind his desk and looked over the details Ann had not mentioned in their meeting. What other issues could freight factoring help Ryan with? With his pencil gliding down the sheet he noticed that the factoring company could help fray the cost of fuel with fuel discount cards and fuel advances. In fact, Ryan could receive up to fifty-percent cash advances upon load pick-ups. Ruben was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""Well, I'll have to tell Felix about this,"" muttered Ruben to himself.His son-in-law Felix had liked the idea of Ryan 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. At that time Ruben knew the struggles Felix would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Ryan was struggling then the little guys, like Felix, were going to be in even more trouble. But, maybe the answer for both of them was in freight factoring, and Ruben was going to find out very soon.Some months later, having successfully gone through the entire process of the application, having experts study his credit history and statements and review his accounts receivable, Ruben found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.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. Ruben 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.

 

"

 

Norfolk is an independent city in the Commonwealth of Virginia. At the 2010 census, the population was 242,803; in 2013, the population was estimated to be 246,392 making it the second-most populous city in Virginia, behind neighboring Virginia Beach.Norfolk is located at the core of the Hampton Roads metropolitan area, named for the large natural harbor of the same name located at the mouth of Chesapeake Bay. It is one of nine cities and seven counties that constitute the Hampton Roads metro area, officially known as the Virginia Beach-Norfolk-Newport News, VA-NC MSA. The city is bordered to the west by the Elizabeth River and to the north by the Chesapeake Bay. It also shares land borders with the independent cities of Chesapeake to its south and Virginia Beach to its east. One of the oldest of the cities in Hampton Roads, Norfolk is considered to be the historic, urban, financial, and cultural center of the region.The city has a long history as a strategic military and transportation point. The largest Navy base in the world, Naval Station Norfolk, is located in Norfolk along with one of NATO's two Strategic Command headquarters. The city also has the corporate headquarters of Norfolk Southern Railway, one of North America's principal Class I railroads, and Maersk Line, Limited, who manages the world's largest fleet of US-flag vessels. As the city is bordered by multiple bodies of water, Norfolk has many miles of riverfront and bayfront property, including beaches on the Chesapeake Bay. It is linked to its neighbors by an extensive network of Interstate highways, bridges, tunnels, and three bridge-tunnel complexes�the only bridge-tunnels in the United States.

 

 

More Trucking Factoring Companies Story Articles

"

The Future of a Trucking Company, and Factoring The phone was ringing on his desk, and Henry Campbell just sat there letting it ring. His morning coffee cooled and his cigarette smoked away in the tray: Henry is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Campbell 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.

 

Henry�s father had started as an owner-operator and had grown Campbell Trucking Company into a fifteen trailer fleet over forty years. Yes, they had survived some very difficult times when it appeared like they might go under, and even Henry's mother had jumped into the cab at times to make hauls. His father had worked long enough to see the price of hires drop dramatically during the recession and to see the explosion of fuel prices afterwards. But now things were different: the company was in Henry's hands and he needed to ensure that this business would be left in great shape for his sons.

 

To move Campbell Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. His employees needed to be paid. They all have families and the usual household bills. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. Every time he had to turn down a request, Campbell Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Henry allowed himself a good hard chuckle. His father had been against placing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. 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.

 

Henry believed a successful man is always thinking of his next step. How would he take Campbell Trucking to the next level? And how would he be able to afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. 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? 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. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Now it was time for Henry to do his homework. Henry had heard that there were companies that charged for same day money transfers and would only advance a percentage of the money owed to your company while holding the rest in a private account if they didn�t get their bill payment within 60 or so days. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His 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. 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. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. Many companies offered a non-recourse factoring program that suited him just fine. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It was good money.

 

For Henry 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 were not interested in his credit nor the financial problems his father had experienced in the past. Factoring was based on the credit of his customers and on their reliability which worked well for Henry because he and his father had built up good strong relationships over decades with their list of clients. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients would not have any problems, nor would they think poorly of Campbell Trucking, because the factoring companies handle themselves in such a polite and professional manner, similar to the way his father had managed the business in the past.

 

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

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� John Burns asked as he leaned back in his chair, crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she stated.John Burns owned a small trucking company, and his business had recently fallen on difficult times. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Mike. He named his business Howell Trucking, named after Franklin and Carl, his two grandfathers. Both of these men had been very hardworking and had set a great example for Mike.Disaster had struck half a year ago, when two trucks in Mike�s fifteen truck fleet went down. One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. The financial security of Mike's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.A big problem a lot of trucking companies came across was how bills were paid in the industry. You could go a month or more before bills were completely paid off. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.John 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.And that's why he found himself across the desk from this woman. Her name was Tina 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.Tina 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.John agreed. It sounded good to him, almost too good.Tina laughed. �You look like you don�t believe me,� she said.�Oh no, I do: it just sounds too good to be true. I actually thought I might end up losing my business.�Tina nodded. �We get that a lot. 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 what we�re here for.""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,� Tina said with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

John filled the form out, with Tina available to help him if he needed it. The completed profile gave Tina and her company all the information they needed on Mike's business, and with this information they would determine if this business would in fact be suitable for Factoring. Unfortunately, not all companies are. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. As John completed his form, Tina listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Tina took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Mike�s hand. He stood before they shook as well, and then smiled. John walked Tina to the door where they said 'Goodbye', then he went back into his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He shut his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. But now, after speaking to Tina and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.All those long, sleepless nights. The sudden panic attacks, not matter where he was. Already he could feel all the stress start to drain away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was there, he was on the right path, and he was working to make things right.His mind wandered back to the very beginning, when he first started his business. At twenty-two and straight out of school he had opened a restaurant. It had been successful. Offering home cooking in his own hometown, his business had really prospered.But it wasn't what he really wanted to do. 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 half a year off, and in that time he thought to start Howell Trucking. So he did it. For the second time in his short life he created a company from the ground up. The business had been an instant success.And then the trucks went down, and his success looked to be in flux. He was nearing fifty. He was concerned that he just did not have the energy left to try and save the business. 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 didn�t know how to say quit.And now, because of factoring, he was sure he wouldn�t have to. Mike's eyes opened, he sat forward in his chair and turned on his computer. He had things 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 Firms Employ Factoring Companies.

 

As the operator of your own business, you may likely be more than knowledgeable already of the hardship in making sure that capital matters do not become a predicament down the line. After all, the most disappointing thing that can potentially come about for your establishment is to find yourself embroiled in a long and tough predicament that leaves you forever looking for the resources you require on an continual manner.

 

For any type of company in this condition, the issue can come for waiting for work to lapse and actually be repaid into your balance. Invoices, checks, and the like could take a while to actually to beprocessed which can easily leave you with momentary cash flow problems. Thank goodness, there are solutions out there for enterprises to examine-- and among these is factoring companies.

 

Factoring firms will, in substitution for your invoices, provide you with the cash right now to ensure that you do not have to worry about the lingering time span which could make paying off the expenses and obtaining materialsmore difficult. With this type of system, invoice factoring can become remarkably beneficial for several companies who have to avoid a money lure which they have discovered themselves in.

 

For the reason that, depending on the volume of the task, it can take up to 60 days for some firms to get paid then it is crucial to cover up your own back and not leave yourself resources short to pay off the bills. After all, how many businesses have two months revenue just occupying there to deal with all their overheads till they get paid?

 

This is primarily correct of trucking firms. They often tend to take care of bunches of statements which means a notable amount of collection time demands business owner themselves. Attempting to get paid out promptly can come to be an incredible difficulty and this is the reason why you make use of truck factoring organizations who are thrilled to help out truckers exclusively.

 

As we all know, trucking is an astonishingly huge industry with plenty of companies out there working with hundreds of vehicle drivers. Regretfully, plenty of these drivers land up in money dilemmas due to the fact that they are still awaiting work from six weeks in the past to actually compensate them. When this is the condition for a trucking company, turning to factoring companies for assistance maybe the ideal alternative left.

 

This implies that a trucking company can pay the paychecks of the work force, keep all the vehicles refilled with gas and continue to surmount, develop and expand without consistently waiting for the finances which is taking too prolonged to come in. Trucking Firms running without a factoring system used are leaving themselves at significant risk, as competitions cash out quickly and go on to broaden.

 

There's honestly nothing to be stressed about when it comes to using a Factoring firm-- they usually are not like a banking company or a person who is going to leave you with a significant mass of personal debt to pay back. You give them authentic invoices from work you have already completed , you are merely speeding the payment process.

 

In the United States, where truck firms flourish, factoring establishments are not considered taking on loan in any capacity. This private agreement then makes it possible for both parties to profit and take pleasure in a good future-- it provides the factoring firm a guaranteed resource of revenue to include in the list and it gives the trucking business the required finances that they worked hard to earn.

 

The trucking business presents their invoices to the factoring enterprise. The trucking factoring business then acquire the payments from the trucking company's clients. Factoring has beenaround for hundreds of years and has been employed for long times by many different sectors-- but none much more so than truckers. While you may miss out on a small part of the money, something like 1-3 % depending on who you partner with, it implies that you are acquiring the funds today and can actually begin setting the cash to perform.

 

Once and for all, an IOU or an invoice is not going to fund bills, is it? For trucking firms when the finances can be good one day and gone the next, it is up to the drivers to work sensibly and to make sure that they are leaving themselves with a considerable amount of time and finance to get through the week up until they are compensated once more.

 

So the next moment your trucking company is bearing some temporary capital issues and you are devoting way too much time chasing slowly paying clients, why not begin thinking of using a factoring companies as a manner to get your cash 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. These loans can be a life-saver, but they're not always available to every business. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Once the loan is paid off, you can then apply for another loan if the need arises.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not offer loans, and you do not go into debt when you get money from a Trucking Factoring company. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to sell. Once 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.

 

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

 

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

 

1. 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. 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 means that it is easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.

 

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

 

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

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a 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. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

In addition, since the Trucking Factoring company evaluates the credit quality of your customers prior to purchasing the accounts receivable you gain valuable information into which customers are likely to pay and which ones are not so likely to pay.While a Trucking Factoring company is not the only way for your business to obtain the money it needs to keep growing, it does offer a type of financing well worth considering.

 

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