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161 New Ways to Finance Your Company - in This fascinating - Our Factoring Company Can Give
Your Freight Company The Cash You Want

workingcapitalfactoring.org

truck factoring definition

factoring trucking receivables

transportation factoring trucking

factoring for trucking companies

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

 

 

 

 

 

 

 

What Your Banker Doesn't Want You to Know - Pick A Freight�Invoice Factoring Company  Instead Of A Traditional Bank Funding

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

At one time or another, every company, even successful ones, have experienced bad money flow.

Cash flow does not have to be a problem any ever more. Do not be deceived -- banks are not the only locations you can get funding. Other options are available and you do not have to borrow money. Exactly what is truck factoring ? One option is called truck factoring. Trucking Factoring is the procedure of selling invoices to a financier instead of waiting to collect the cash from the client. Oh, the Irony- Trucking factoring has a paradoxical distinction: It is the financial foundation of many of America's most effective companies. Why is this paradoxical ? Since commercial factoring is not instructed in business colleges, is seldom mentioned in company strategies and is fairly unknown to the majority of most of American business individuals.

Yet it is a financial procedure that releases up billions of dollars every year, allowing countless businesses to grow and succeed. Commercial Factoring has actually been around for thousands of years. Accounts Receivable Factoring Businesses are financiers who pay money for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a debt your client has agreed pay in the near future. Factoring Principals--Although factoring deals solely with business-to-business transactions, a big percentage of the retail business uses 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 truly simply large Receivable Loan Funding Businesses of consumer paper. Consider it: You make a purchase at Sears and charge it to your MasterCard. The shop gets paid almost instantly, although you do not make payment until you are ready.

For this service, the charge card business charges Sears a charge (typical common normal charges vary from two to 4 percent of the sale). The Advantages Receivable Funding can provide numerous advantages to cash-hungry companies. Instead of waiting 30, 60, 90 days or longer for payment on an item that has actually currently been delivered, a business can factor (sell) its receivables for money at a little price cut off the amount of the invoice. Payroll, marketing efforts, and working capital are just a few of the business requirements that can be satisfied with instant  cash.

Truck Factoring provides the means for a producer to replenish stock and make more products to sell: There is no longer a requirement to await for earlier sales to be paid. FACTORING is not simply a cash management tool for producers: Almost any type company can take advantage of Receivable Loan Financing. Typically, a company that extends credit will have 10 to 20 percent of its yearly sales bound in accounts receivable at any given time. Think for a moment about exactly how much is bound in 60 days' worth of invoices: You can not pay the power expense or this week s payroll with a client s invoice, but you can sell that invoice for the cash to satisfy those obligations. Using trucking factoring companies is a fast and easy process. The factoring company buys the invoice at a discount, typically a couple of percentage points less than the face value of the invoice.

 

 

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mesa-factoring-companies

 

The American Trucking Organization
states that there around
195,000 workers with truck
firms and
300,000 private providers trucking
companies accredited to
run in the U.S. that transferred,
according to their latest searchings for billions of
products, materials and
basic products .
There are numerous typical
carriers either going solo or in
groups on our country
roadways transferring these
crucial items to our
stores, manufacturingplants and shipping ports.

Also trucking factoring
corporations benefit
many of them and offer their
receivable loan services
countrywideincluding
including the following states.

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

 

"

Mesa has over 2,280 acres of parkland in the city limits. Mesa's largest park is Red Mountain Park which spans 1,146 acres. It includes a lake, playgrounds, a basketball court and a cement volleyball court.Golf[edit]Mesa is home to numerous championship golf courses, including the original course in town, Mesa Country Club (www.mesacountryclub.com). This course was founded in the late 1940s by the original leaders of the town, and ""Country Club Drive"" - the most prominent street in Mesa - was at one point the modest entrance to the club.West Mesa[edit]Main articles: Fiesta Mall and Mesa RiverviewThe Fiesta Mall is located in West Mesa, and owned by Westcor. It is located near several shopping centers, Mesa's , and other retail stores, banks, and restaurants. An expansion of Fiesta Mall has been planned.Mesa Riverview is a new outdoor destination retail center in the northwestern corner of the city, near Loop 202 and Dobson Road. At build-out the center will include of 1,300,000 square feet (120,000 m2) of retail space. in the State of Arizona and is a suburb located about 20 miles (32 km) east of Phoenix. Mesa is the central city of the East Valley section of the Phoenix Metropolitan Area. It is bordered by Tempe on the west, the Salt River Pima-Maricopa Indian Community on the north, Chandler and Gilbert on the south, and Apache Junction on the east. As of the 2010 Census Mesa became Arizona's center of population.Mesa is the third-largest city in Arizona, after Phoenix and Tucson. and the 38th-largest city in the US. The city is home to 439,041 people as of 2010 according to the Census Bureau. Mesa is home to numerous higher education facilities including Polytechnic campus of Arizona State University.

 

"

 

Watch Our 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:

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

 

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

 

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

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

 

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

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

 

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.

 

 

"

Frazier Truck & Haul have been operating their business since the mid 1980s. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the boom times from 2002 to 2007 Frazier Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. 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 to a crawl

 

. Worse still, it was noticed by Frazier in early 2008 that even though most of their loyal customers were on time with their payments, there were a few late bloomers who were starting to spread the disease. Spring changed to summer, summer changed to fall, and the CEO of Frazier, Tyrone Brooks, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. There was a growing list of clients who now owed them back debt.He had gone to his administrators and asked them what the problem had been. Were they doing something wrong or different when it came to reaching out to delinquent accounts? When checking his bookkeeper's records this was definitely not the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Frazier money had jumped ship and decided to leave him holding the bag.

 

. They could not afford to pay him their debt, but they could afford a lesser service, maybe. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. The had just gone!.To Tyrone Brooks 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. In the evenings he would discuss his concerns with his wife, Glenda, and still find no relief from the worry and frustration.

 

""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""What could you do differently?"" she would ask.Tyrone 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 traveling, bringing goods to all of his clients. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What could cause this ultimate death spiral of business?""I know what it is,"" said Tyrone. ""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.

 

""Tyrone 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 next day Tyrone strolled into his office and was determined to sit down and make every phone call to every client who had owed Frazier money. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. Wasting money, wasting time - even with the best of intentions, Tyrone knew that he was in trouble.

 

Poor Tyrone spent the whole morning trying in vain to contact his debtors: they promised to call back, dodged his calls, or made small interest-only payments. He was beginning to feel quite despaired when his secretary knocked on his door.

 

""Can I have a word with you Tyrone?"" she asked standing in the doorway.

 

""Sure thing Angela, come on in."" Tyrone leaned back in his chair and looked expectantly at Angelaerely.""Well Tyrone, 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 the word factoring?"" she asked.""It sounds vaguely familiar. What is it?"" he said.""Well,"" she began, ""It�s actually quite simple really.

 

Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Immediately?"" Tyrone interrupted.""Immediately, yes"" she added, ""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.""I see,� Tyrone said. �And then what?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. There�s a lot of flexibility depending on the business volume and credit histories. The company will advise us the cost to purchase factoring for our company's accounts receivable. The funding commences once we�ve arrived at an agreement.�Leaning forward, Tyrone studied the documents very closely.""It sounds too good to be true, Angela,"" he said.""Now, now, I know, I thought the same thing. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. And they're flexible Tyrone,"" she drew a circle around a paragraph on the document before him.""How flexible?"" he asked.""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. Apparently they can figure this all out in two to four days.

 

""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" said Tyrone.Tyrone took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Tyrone took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Frazier Truck & Haul were professional resources of the company, but they were also long-standing friends. Tyrone wasn't prepared to lose these relationships just because they were having financial issues at the moment. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. 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 Angela, thank you."" Angela nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Tyrone keep the shirt on his back, and possibly hers too.Tyrone sat behind his desk and looked over the details Angela had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Frazier 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. Tyrone was surprised: it said that his company could get up to fifty percent cash advances on load pickups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""Well, I'll have to tell Mitchell about this,"" muttered Tyrone to himself.Tyrone's son-in-law, Mitchell, loved the idea behind Frazier and highly respected his father-in-law for having such great business sense, that two years ago he got his capital together and started his own transportation company. Tyrone knew then what struggles Mitchell would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Frazier was hurting, a little guy like Mitchell was about to catch his death. But, maybe the answer for both of them was in freight factoring, and Tyrone was going to find out very soon.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Tyrone found himself beginning to dig his way out of the hole his delinquent account holders had created for him.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They used that time to refocus their efforts in being competitive in new territories. Tyrone recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. If Tyrone hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

"

Mesa has over 2,280 acres of parkland in the city limits. Mesa's largest park is Red Mountain Park which spans 1,146 acres. It includes a lake, playgrounds, a basketball court and a cement volleyball court.Golf[edit]Mesa is home to numerous championship golf courses, including the original course in town, Mesa Country Club (www.mesacountryclub.com). This course was founded in the late 1940s by the original leaders of the town, and ""Country Club Drive"" - the most prominent street in Mesa - was at one point the modest entrance to the club.West Mesa[edit]Main articles: Fiesta Mall and Mesa RiverviewThe Fiesta Mall is located in West Mesa, and owned by Westcor. It is located near several shopping centers, Mesa's , and other retail stores, banks, and restaurants. An expansion of Fiesta Mall has been planned.Mesa Riverview is a new outdoor destination retail center in the northwestern corner of the city, near Loop 202 and Dobson Road. At build-out the center will include of 1,300,000 square feet (120,000 m2) of retail space. in the State of Arizona and is a suburb located about 20 miles (32 km) east of Phoenix. Mesa is the central city of the East Valley section of the Phoenix Metropolitan Area. It is bordered by Tempe on the west, the Salt River Pima-Maricopa Indian Community on the north, Chandler and Gilbert on the south, and Apache Junction on the east. As of the 2010 Census Mesa became Arizona's center of population.Mesa is the third-largest city in Arizona, after Phoenix and Tucson. and the 38th-largest city in the US. The city is home to 439,041 people as of 2010 according to the Census Bureau. Mesa is home to numerous higher education facilities including Polytechnic campus of Arizona State University.

 

"

 

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.

 

 

 

Watch Our Truck Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� Alexander Bell asked as he leaned back in his chair, crossing his legs. The woman who sat across the desk smiled and shook her head.�No, not exactly,� she stated.Alexander was the owner of a small trucking company which had fallen on some hard times recently. Trucking could be a profitable business, and for a little under a decade, it had been for Armando. His company was called May Trucking, named after both of his grandfathers, Alan and Stephen. They had both been hardworking men, and had done a lot to make Alexander the same.Six months ago disaster struck Armando's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. Alexander depended on his full fleet, and missing two trucks was devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

You could go a month or more before bills were completely paid off. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Alexander was an excellent business man, and he certainly hadn't done anything wrong. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.That�s where the woman across the desk came in. Alexander knew she was employed by a Factoring company and that her name was Alicia. Alexander 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.Alicia explained. �It�s not a loan, we purchase your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. This is a win-win situation: we are protected from a total loss, and you're protected from the ridiculous fees and charges you'd have to pay if you borrowed from a bank.Alexander agreed. It sounded good to him, almost too good.The woman laughed. �I'm not sure that you 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.�Alicia nodded. �Yes, we get a lot of that. Listen, I�d hate to see you lose your company. We know how hard you work, and that you've invested everything in your business. We all need help sometimes. That�s 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,� said Alicia with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Alexander completed the form, with Alicia offering advice as needed.

 

The profile filled Alicia and her company in on Armando�s company, and would help them determine if he was suitable for factoring. Unfortunately, not all companies are. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. Listening as Alexander filled out his form, Alicia was pretty sure he was a perfect candidate for factoring.Alicia took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Armando�s hand. He stood before they shook as well, and then smiled. They said their goodbyes and Alexander walked her to the door, and then returned to his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He leaned back and closed his eyes. He 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 Alicia though, learning about factoring, it felt like a weight had been lifted from his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.All those long, sleepless nights. The sudden panic attacks, not matter where he was. Already he could feel all the stress start to drain away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was 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. He had opened a restaurant at age twenty two when he was fresh out of school. It had been really 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 May 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.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was about to turn fifty. He didn�t think he had it in him, to save this company. But he couldn�t give up. The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He didn�t know how to say quit.And now, because of factoring, he was sure he wouldn�t have to. Alexander opened his eyes, sat forward, turned his computer on. He had lots to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

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More Trucking Factoring Company Story Articles

Why Trucking Firms Use Factoring Firms.

 

As the manager of your own establishment, you may perhaps be more than mindful already of the challenge in making certain that cash flow concerns do not become a difficulty down the line. Anyway, the most disappointing thing that can possibly develop for your firm is to find yourself swept up in a long and challenging circumstance that leaves you forever looking for the funds you require on an continuing manner.

 

For virtually any firm in this predicament, the issue can come for waiting for work to clear up and actually be paid out into your account. Bill of sales, checks, and the like could take a long time to actually to be taken care of which can leave you with temporary available resources issues. Luckily, there are alternatives out there for firms to check out-- and just one of these is factoring agencies.

 

Factoring agencies will, in trade for your accounts, give you with the resources immediately to ensure that you do not need to fret about the delaying duration which could make paying off the expenses and obtaining toolsmore challenging. With this form of setup, invoice factoring can become tremendously practical for plenty of companies who need to get out of a cash pitfall which they have gotten themselves in.

 

Simply because, depending on the volume of the task, it can take up to 60 days for some business enterprises to get compensated then it is essential to cover up your own back and definitely not leave yourself resources short to pay off the bills. After all, how many establishments have two months revenue just occupying there to handle all their spendings until they make money?

 

This is especially true of trucking firms. They often tend to handle lots of invoices which means a substantial amount of collection period entails company owner themselves. Attempting to get paid off promptly can turn into an unbelievable struggle and this is exactly why you employ truck factoring companies who are happy to help out truckers specifically.

 

As we all determine, trucking is an exceptionally large industry with a lot of agencies out there hiring hundreds of vehicle drivers. Regrettably, many of these drivers end up in income dilemmas due to the fact that they are still expecting work from six weeks ago to actually pay them. When this is the case for a trucking organization, turning to factoring agencies for support may be the most effective alternative left.

 

This implies that a truck business can pay off the salaries of the crew, keep all the trucks filled with fuel and continue to escalate, thrive and expand without consistently waiting for the money which is taking too prolonged to come in. Trucking Businesses operating without a factoring system used are leaving themselves at notable hazard, as rivals cash out promptly and continue to broaden.

 

There's absolutely very little to be worried about when it comes to using a Factoring agency-- they usually are not like a banking company or a person who is going to leave you with a huge stack of personal debt to pay back. You give them genuine invoices from work you have already completed , you are simply expediting the repayment system.

 

In the Usa, where trucking firms prosper, factoring enterprises are not considered accepting loan of in any capacity. This private agreement then allows both parties to make money and experience a worry-free future-- it gives the factoring firm a guaranteed resource of earnings to put into the list and it supplies the trucking firm the required cash that they sweated to generate.

 

The trucking company provides their accounts to the factoring agency. The trucking factoring company then collect the installment payments from the trucking company's clients. Factoring has been in existence for centuries and has been employed for long times by plenty of different markets-- but none more so than truckers. While you might lose out on a small part of the money, something like 1-3 % depending upon who you deal with, it indicates that you are obtaining the cash today and can actually start putting the cash to work.

 

After all, an IOU or an invoice is not actually going to fund costs, is it? For trucking enterprises when the cash can be excellent one day and gone the next, it is up to the drivers to work prudently and to make certain they are leaving themselves with a notable measure of time and money to get through the week until they are handed over once more.

 

So the next occasion your trucking enterprise is having some short-term cash flow troubles and you are devoting excessive time chasing slowly paying customers, why not begin thinking of utilizing a factoring businesses as a manner to get your cash and give yourself a more worry-free future in the eyes of your trucking staff and your bank difference?

 

 

 

 

 

 

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Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. While these loans are handy they are not available to every business. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

What Are Trucking Factoring Companies?

 

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

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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

 

1. There is no debt. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

2. No Collateral Required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This means that it is easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.

 

3. Receive Your Money Faster. With a Trucking Factoring company you can actually get the money you need faster. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

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

 

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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