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How I Improved My Profits in One Evening - Our Receivable Loan Company Can Give
Your Trucking Company The Cash You Want

factorinvoices.org

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Medium-Size trucking companies, particularly those who have not been in existence for extremely long, will typically discover it difficult to secure a loan. Banks are typically reluctant to lend cash to companies that do not have a lot of income and assets. They also desire evidence of the viability of a company and thus need that the majority of operations, particularly little ones, be in business for a particular amount of time prior to they want to hand over any money. Due to the fact that of this, a small business frequently has few cash generating options when requires occur. One option offered, but frequently neglected, is factoring. This is an outstanding way for a small business to obtain cash.

 

 

 

 

 

 

 

Is The Life of a Receivable Worth $1 to You - Pick A Receivable Loan C0mpany Instead Of A Typical Bank Financing

Exactly how to Increase Cash Flow Without Borrowing -Cash Money flow is one of the primary reasons companies fail.

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

Money flow does not have to be an issue any more. Do not be deceived -- banks are not the only places you can get funding. Other options are offered and you do not have to borrow. What is trucking factoring ? One solution is called truck factoring. Trucking Factoring is the procedure of offering invoices to a financier rather than waiting to collect the cash from the client. Oh, the Irony- Truck factoring has a paradoxical difference: It is the monetary foundation of numerous of America's most successful businesses. Why is this ironic ? Since receivable funding is not instructed in business colleges, is seldom mentioned in company plans and is relatively unknown to bulk of most of American company people.

Yet it is a financial procedure that frees billions of dollars every year, allowing thousands of companies to grow and succeed. Trucking Factoring has been around for countless years. Receivable Loan Funding Companies are investors 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 actually to pay in the near future. Factoring Principals--Although factoring offers solely with business-to-business deals, a big percentage of the retail company utilizes a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail transactions. Utilizing the purest meaning of the word, these big consumer finance business are really simply big Trucking Factoring Companies of consumer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The shop makes money practically immediately, although you do not make payment until you are prepared.

For this service, the charge card company charges Sears a fee (typical common normal fees vary from 2 to four percent of the sale). The Advantages Accounts Receivable Factoring can offer numerous benefits to cash-hungry business. 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 little discount off the dollar value of the invoice. Payroll, advertising efforts, and working capital are simply a few of the company needs that can be met with instant  money.

Receivable Funding offers the means for a producer to renew inventory and make more items 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 type company can benefit from FACTORING. Generally, a business that extends credit will have 10 to 20 percent of its yearly sales bound in invoices 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 bill or today s payroll with a client s invoice, but you can offer that invoice for the money to satisfy those obligations. Using trucking factoring companies is a fast and simple procedure. The factoring company buys the invoice at a discount, typically a couple of portion points less than the stated value of the invoice.

 

 

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The American Truck Association
states that there around
205,000 workers with freight trucking
companies and
250,000 private providers trucking
companies licensed to
run in the States that transferred,
according to their most current listings of millions of
products, supplies and
standard materials .
There are numerous usual
providers either going solo or in
teams on our country
roads carrying these
important items to our
shops, factories and shipping ports.

Moreover trucking factoring
corporations aid
numerous of them and offer their
receivables financing facilities
nationallycomprising
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

 

The Denver MSA has a gross metropolitan product of $157.6 billion in 2010, making it the 18th largest metro economy in the United States. Denver's economy is based partially on its geographic position and its connection to some of the major transportation systems of the country. Because Denver is the largest city within 500 miles (800 km), it has become a natural location for storage and distribution of goods and services to the Mountain States, Southwest states, as well as all western states. Another benefit for distribution is that Denver is nearly equidistant from large cities of the Midwest, such as Chicago and St. Louis and some large cities of the West Coast, such as Los Angeles and San Diego.Over the years, the city has been home to other large corporations in the central United States, making Denver a key trade point for the country. Several well-known companies originated in or have relocated to Denver. Instrument Company in 1895 to make analytical balances for gold assayers. Its factory is now in Arvada. �the largest owner and operator of apartment communities in the United States, with approximately 870 communities comprising nearly 136,000 units in 44 states�is headquartered in Denver, employing approximately 3,500 people. Also producer of automotive belts and hoses, was established in S. Denver in 1919. Denver. . Along with federal agencies come many companies based on US defense and space projects, and more jobs are brought to the city by virtue of its being the capital of the state of Colorado. The Denver area is home to the former nuclear weapons plant Rocky Flats, the Denver Federal Center, the Denver Mint and the National Renewable Energy Laboratory.In 2005, a $310.7 million expansion for the Colorado Convention Center was completed, doubling its size. The hope was that the center's expansion would elevate the city to one of the top 10 cities in the nation for holding a convention.Denver's position near the mineral-rich Rocky Mountains encouraged mining and energy companies to spring up in the area. In the early days of the city, gold and silver booms and busts played a large role in the economic success of the city. In the 1970s and early 1980s, the energy crisis in America and resulting high oil prices created an energy boom in Denver captured in the soap opera Dynasty. Denver was built up considerably during this time with the construction of many new downtown skyscrapers. When the price of oil dropped from $34 a barrel in 1981 to $9 a barrel in 1986, the Denver economy dropped with it, leaving almost 15,000 oil industry workers in the area unemployed (including former mayor and current governor r, a former geologist), and the highest office vacancy rate in the nation (30%). Since then, the industry has recovered and there remain 700 employed petroleum engineers in the region. Advances is hydraulic fracturing has made the DJ Basin of Colorado into an accessible and lucrative oil play. Energy and mining are still important in Denver's economy today, with companies such The Downtown region has seen increased real estate investment with the construction of several new skyscrapers set to be completed in 2010�2013.Denver has also enjoyed success as a pioneer in the fast casual restaurant industry, with many popular national chain restaurants founded and based in Denver. In 2013, Denver ranked No. 6 on list of the Best Places for Business and Careers

 

 

Watch Our Freight Factoring Companies YouTube Videos For More Information

 

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

 

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.

 

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

 

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.

 

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.

 

"

Torres Truck & Haul have been operating their business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the heady times from 2002 to 2007, Torres was a top rated accounts receivable mastermind of the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. 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. Worse still, it was noticed by Torres 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 Torres, Bruce Terry, 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 already been to the administrators to ask what the actual problem was. Were they doing things different, or wrong, when it came to collecting overdue accounts? By his bookkeepers records, this wasn't the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Torres money had jumped ship and decided to leave him holding the bag.

 

. 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 Torres hadn't gone elsewhere. They had just gone home.To Bruce Terry 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 Kelly and shake his head in frustration.

 

""I have a bad feeling, Lin,"" he would say with deep woe.""Well, what do you think it is?"" she would ask.Bruce would stare off into the distance, and then slowly close his eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them 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. What on earth was happening to create the death of his business?""I think I know what it could be,"" said Bruce. ""For way too long I've been relying solely on profits received from invoices. I've let too many of our customers go too long without paying on their bills."" Kelly would look at her husband lovingly, and holding his hand would say 'it is such a harsh economy these days and our clients must be having difficulty meeting their responsibilities'.""Bruce knew very well that Kelly 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 Bruce walked into his office with a spring in his step, determined to call each and every client who owed money to Torres 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. Wasting money, wasting time - even with the best of intentions, Bruce knew that he was in trouble.

 

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 Olgaerley knocked at his door.

 

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

 

""Of course Olga, please come in."" Bruce leaned back in his chair and looked expectantly at Olgaerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Bruce."" 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?"" Olgaerley asked.""It sounds vaguely familiar. What is factoring""? he asked.""Well,"" she began, ""It�s actually quite simple really.

 

Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Bruce interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""it is actually very simple. We can have an expert account manager review our numbers and help us complete a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.""I see,� Bruce said. �And then what?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. There�s a lot of flexibility depending on the business volume and credit histories. The company will advise us the cost to purchase factoring for our company's accounts receivable. Once we arrive at a mutual agreement, the funding begins.�Bruce was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""I do not know, Olga - it just sounds too good to be true"", Bruce said quietly.""Now, now, I know, I thought the same thing. But think about it, Bruce: 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, Bruce,"" she underlined a paragraph on the paper before him.""Just 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.

 

""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" said Bruce.He took a deep breath and looked at his secretary with something she recognized as hope.""Precisely�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Bruce took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Torres Truck & Haul were professional resources of the company, but they were also long-standing friends. Bruce wasn't prepared to lose these relationships just because they were having financial issues at the moment. Bruce 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 Olga, and thankyou."" Olga nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Bruce 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 Torres 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. Bruce 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 Ricardo about this,"" Bruce muttered to himself.Bruce's son-in-law, Ricardo, loved the idea behind Torres 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. At that time Bruce knew the struggles Ricardo would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Torres was struggling then the little guys, like Ricardo, were going to be in even more trouble.

 

But, an antidote may have been found in freight factoring and Bruce was soon to find out.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, Bruce found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They took that time and refocused effort to offering competitive prices in new territories. Bruce 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.

 

"

 

The Denver MSA has a gross metropolitan product of $157.6 billion in 2010, making it the 18th largest metro economy in the United States. Denver's economy is based partially on its geographic position and its connection to some of the major transportation systems of the country. Because Denver is the largest city within 500 miles (800 km), it has become a natural location for storage and distribution of goods and services to the Mountain States, Southwest states, as well as all western states. Another benefit for distribution is that Denver is nearly equidistant from large cities of the Midwest, such as Chicago and St. Louis and some large cities of the West Coast, such as Los Angeles and San Diego.Over the years, the city has been home to other large corporations in the central United States, making Denver a key trade point for the country. Several well-known companies originated in or have relocated to Denver. Instrument Company in 1895 to make analytical balances for gold assayers. Its factory is now in Arvada. �the largest owner and operator of apartment communities in the United States, with approximately 870 communities comprising nearly 136,000 units in 44 states�is headquartered in Denver, employing approximately 3,500 people. Also producer of automotive belts and hoses, was established in S. Denver in 1919. Denver. . Along with federal agencies come many companies based on US defense and space projects, and more jobs are brought to the city by virtue of its being the capital of the state of Colorado. The Denver area is home to the former nuclear weapons plant Rocky Flats, the Denver Federal Center, the Denver Mint and the National Renewable Energy Laboratory.In 2005, a $310.7 million expansion for the Colorado Convention Center was completed, doubling its size. The hope was that the center's expansion would elevate the city to one of the top 10 cities in the nation for holding a convention.Denver's position near the mineral-rich Rocky Mountains encouraged mining and energy companies to spring up in the area. In the early days of the city, gold and silver booms and busts played a large role in the economic success of the city. In the 1970s and early 1980s, the energy crisis in America and resulting high oil prices created an energy boom in Denver captured in the soap opera Dynasty. Denver was built up considerably during this time with the construction of many new downtown skyscrapers. When the price of oil dropped from $34 a barrel in 1981 to $9 a barrel in 1986, the Denver economy dropped with it, leaving almost 15,000 oil industry workers in the area unemployed (including former mayor and current governor r, a former geologist), and the highest office vacancy rate in the nation (30%). Since then, the industry has recovered and there remain 700 employed petroleum engineers in the region. Advances is hydraulic fracturing has made the DJ Basin of Colorado into an accessible and lucrative oil play. Energy and mining are still important in Denver's economy today, with companies such The Downtown region has seen increased real estate investment with the construction of several new skyscrapers set to be completed in 2010�2013.Denver has also enjoyed success as a pioneer in the fast casual restaurant industry, with many popular national chain restaurants founded and based in Denver. In 2013, Denver ranked No. 6 on list of the Best Places for Business and Careers

 

 

More Trucking Factoring Companies Story Articles

The Future of a Trucking Company, and Factoring Marc Fields let the phone ring on his desk. He let his morning coffee cool and left his cigarette to ash itself in the tray, because he is trying to make the biggest decision ever for his trucking company. Fields 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.

 

Marc�s father had started as an owner-operator and had grown Fields Trucking Company into a fifteen trailer fleet over forty years. There had been some hard times when it seemed everything was going to go under and even Marc�s mother strapped herself into a cab to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. But now things were different: the company was in Marc's hands and he needed to ensure that this business would be left in great shape for his sons.

 

There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. He had employees to pay. They all have families and the usual household bills. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. He knew that turning down these requests made Fields Trucking look inefficient and weak in what was currently a strong market.

 

His father would have told him to wait and to take his time adding on new technology. Marc chuckled, thinking about his father. He remembered when his father was totally against installing 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?� 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.

 

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

 

He wondered about factoring - was this the answer for him? If he was being honest, he did not really understand how it all worked. It sounded 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.

 

Now it was time for Marc to do his homework. Marc 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 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. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He was quite happy to sign an exclusive contract. 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. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It was good money.

 

For Marc it was quite a relief to be dealing with the factoring company. They were extremely helpful and more personable than the bank staff. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies were not interested in his credit nor the financial problems his father had experienced in the past. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Marc because he and his father had created a very strong and loyal list of clientele over the years. 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 Fields 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.

 

Marc 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. With the capabilities of this new cash flow, Marc could actually expand Fields Trucking Company further across the country and perhaps even go international into Canada. 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 Freight Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So, this is not a loan?� asked Joe Cunningham, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she stated.Joe Cunningham 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 Tyrone. He named his business Greene Trucking, named after Duane and Charlie, his two grandfathers. They had both been hardworking men, and had done a lot to make Joe the same.Disaster had struck half a year ago, when two trucks in Tyrone�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. Joe 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 Joe 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. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Joe was an excellent business man, and he certainly hadn't done anything wrong. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.And that's why he found himself across the desk from this woman. Joe knew she was employed by a Factoring company and that her name was Doris. Joe 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.She sat there now, and 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.Joe nodded. It sounded perfect - perhaps too good?.Doris 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.�Doris smiled, agreeing. �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.""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 Doris with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Joe filled the form out, with Doris available to help him if he needed it. The profile filled Doris and her company in on Tyrone�s company, and would help them determine if he was suitable for factoring. In truth, not all companies were. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. Listening as Joe filled out his form, Doris was pretty sure he was a perfect candidate for factoring.When the form was done Doris took it and slid it into her briefcase. She then stood, reached across the desk and shook Tyrone�s hand. He also stood up, and they smiled at each other. They said their goodbyes and Joe 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. But now, after speaking to Doris and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.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 still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.Joe couldn�t help but think back to when he had first started the business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been successful. Offering home cooking in his own hometown, his business had really prospered.But he had gotten bored. 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 Greene Trucking. And that's exactly what he did. For the second time in his short life he created a company from the ground up. He had been successful.And then the trucks went down, and his success looked to be in flux. He was about to turn fifty. He didn�t think he had it in him, to save this company. But 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 it seemed as though he would not have to - all because of Factoring. Tyrone'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

Precisely why Trucking Corporations Make use of Factoring Firms.

 

As the owner of your own business enterprise, you may well be more than aware already of the hardship in making certain that cash flow matters do not become a problem down the line. Anyway, the most awful thing that can in all probability transpire for your company is to find yourself embroiled in a long and challenging condition that leaves you forever trying to find the money you really need on an continuing basis.

 

For just about any firm in this scenario, the problem can come for waiting for work to clear up and actually be brought in into your account. Bill of sales, checks, and the like can take a long time to actually to beprocessed which can easily leave you with temporary capital difficulties. Thankfully, there are opportunities out there for enterprises to consider-- and one of these is factoring agencies.

 

Factoring providers will, in exchange for your invoices, provide you with the resources now in order that you do not need to fret about the delaying duration which could make paying out the expenses and obtaining toolsmore hard. With this style of setup, invoice factoring can become incredibly helpful for plenty of businesses who need to avoid a cash pitfall which they have found themselves in.

 

For the reason that, depending on the size of the work, it can take up to 60 days for a number of enterprises to get paid out then it is vital to blanket your own back and not leave yourself resources short to settle the expenses. After all, how many establishments have two months cash flow just occupying there to handle all their costs until they get paid?

 

This is primarily true of trucking agencies. They usually take care of great deals of invoices which means a notable quantity of collection time concerns company owner themselves. Attempting to get paid off promptly can end up being an amazing hassle and this is the key reasons why you work with truck factoring providers who are pleased to help out truckers primarily.

 

As most of us realize, trucking is an unbelievably massive market with many firms out there handling hundreds of vehicle drivers. The sad thing is, plenty of these drivers land up in income difficulties since they are still anticipating work from six weeks earlier to actually compensate them. When this is the case for a truck agency, depending on factoring providers for help maybe the most recommended option left.

 

This indicates that a truck company can compensate the salaries of the crew, keep all the vehicles refilled with fuel and continue to surmount, progress and expand without always waiting for the money which is taking too lengthy to come in. Trucking Establishments functioning without a factoring system established are leaving themselves at considerable threat, as rivals cash out quickly and carry on to grow.

 

There's absolutely very little to be troubled about when it comes to making use of a Factoring firm-- they commonly are not like a banking company or somebody who is going to leave you with a huge stack of debt to repay. You give them genuine invoices from job you have already wrapped up , you are just expediting the payment system.

 

In the Usa, where trucking enterprises flourish, factoring enterprises are not considered getting a loan in any capacity. This private agreement then allows both parties to make money and indulge in a worry-free future-- it gives the factoring provider a secured resource of money to put into the list and it gives the trucking business the required funds that they worked hard to earn.

 

The trucking business gives their accounts to the factoring agency. The trucking factoring company then receive the payment amounts from the trucking company's clients. Factoring has beenaround for centuries and has been used for many years by many varied sectors-- but none more so than truckers. While you may lose out on a small part of the money, something like 1-3 % depending on who you collaborate with, it indicates that you are obtaining the finances today and can actually start setting the resources to do work.

 

Anyway, an IOU or an invoice is certainly not going to pay for costs, is it? For trucking enterprises when the funds can be excellent one day and gone the next, it is up to the drivers to work prudently and to ensure they are leaving themselves with a significant volume of time and money to get through the week till they are paid once again.

 

So the next period your trucking establishment is bearing some momentary capital problems and you are devoting a lot of time chasing slow paying clienteles, why not start looking at utilizing a factoring companies as a method to get your money and give yourself a more worry-free future in the eyes of your trucking personnel and your bank balance?

 

 

 

 

 

 

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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. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Once the loan is paid off, you can then apply for another loan if the need arises.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. 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 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.

 

Benefits of a Trucking Factoring Company Vs. A 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. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. There's no collateral required. Another great benefit of using the services of a Trucking Factoring company instead of a bank loan is that there is no collateral required for the Trucking Factoring company, because the Trucking Factoring company is buying your accounts receivables. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

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

 

4.You receive interest up-front. 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. 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.

 

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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