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

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Factoring invoices is useful for several factors. It enables a truck company to raise money without obtaining new financial obligation. While debt is in some cases necessary, most freight broker firm would like to raise money without obtaining cash. Financial obligation is dangerous, and when it can not be repaid, properties can be repossessed. If the debt is large enough, it might even require a truck businesses out of business.

 

 

 

 

 

 

 

Little Cash Flow Leaks That Keep Companies Poor - Choose The Best Factoring Company Instead Of A Traditional Bank Funding

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

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

Money flow does not have to be an issue any ever more. Do not be fooled -- banks are not the only places you can get funding. Other options are available and you do not have to borrow money. Exactly what is trucking factoring ? One solution is called truck factoring. Truck Factoring is the process of offering invoices to an investor rather than waiting to collect the cash from the customer. Oh, the Irony- Trucking factoring has a paradoxical difference: It is the monetary backbone of many of America's most effective businesses. Why is this paradoxical ? Because staffing factoring is not taught in business colleges, is seldom discussed in business plans and is relatively unidentified to the majority of most of American company people.

Yet it is a monetary procedure that frees billions of dollars every year, allowing thousands of businesses to grow and prosper. Accounts Receivable Factoring has actually been around for countless years. Trucking Factoring Businesses are investors who pay cash for the right to receive the future payments on your invoices. An overdue receivable or invoice has value. It is a debt your customer has actually to pay in the near future. Factoring Principals--Although factoring offers solely with business-to-business deals, a big portion of the retail business 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 large consumer finance business are really just large Receivable Loan Funding Businesses of consumer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The shop gets paid almost instantly, even though you do not make payment up until you are ready.

For this service, the credit card business charges Sears a fee (typical common normal charges vary from 2 to 4 percent of the sale). The Advantages Trucking Factoring can provide numerous benefits to cash-hungry companies. Rather than wait 30, 60, 90 days or longer for payment on an item that has actually already been delivered, a business can factor (sell) its receivables for cash at a little discount off the dollar value of the invoice. Payroll, marketing efforts, and working capital are just a few of the company needs that can be met with instant  money.

Trucking Factoring provides the means for a producer to renew inventory and make more items to offer: There is no longer a requirement to wait for earlier sales to be paid. Receivable Loan Financing is not simply a money management tool for manufacturers: Almost any kind company can take advantage of Factoring. Typically, a business that extends credit will have 10 to 20 percent of its annual sales tied up in accounts receivable at any given time. Think for a moment about exactly how much is bound in 60 days' worth of invoices: You can not pay the power bill or this week s payroll with a client s invoice, but you can sell that invoice for the money to meet those responsibilities. Using truck factoring companies is a fast and simple process. The factoring company purchases the invoice at a discount, typically a couple of percentage points less than the stated value of the invoice.

 

 

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The American Trucking Association
specifies that there around
195,000 work with truck
businesses and
276,000 private companies trucking
companies certified to
operate in America that carried,
according to their most current searchings for billions of
items, supplies and
fundamental materials .
There are several typical
carriers either going solo or in
teams on our country
roadways carrying these
crucial items to our
stores, factories and harbors.

And freight bill factoring
companies benefit
countless of them and offer their
accounts receivablesfinancing facilities
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

 

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Austin is the anchor city of the Austin-Round Rock-San Marcos MSA, which had a Gross Domestic Product of $86 billion in 2010. Austin is considered to be a major center for high tech. Thousands of graduates each year from the engineering and computer science programs at the University of Texas at Austin provide a steady source of employees that help to fuel Austin's technology and defense industry sectors. The region's rapid growth has led to rank the Austin metropolitan area number one among all big cities for jobs for 2012 in their annual survey and to rank the area number one for growing businesses. By 2013, Austin ranked No. 14 on ' list of the Best Places for Business and Careers (directly below Dallas, No. 13 on the list). The metro Austin area has much lower housing costs than the San Francisco Bay Area's Silicon Valley, but much higher housing costs than many parts of rural Texas. As a result of the high concentration of high-tech companies in the region, Austin was strongly affected by the dot-com boom in the late 1990s and subsequent bust. Austin's largest employers include the Austin Independent School District, the City of Austin, . In 2010, accepted a grant to build a downtown office that could bring as many as 200 jobs to the city. The proliferation of technology companies has led to the region's nickname, ""the Silicon Hills"", and spurred development that greatly expanded the city.Austin is also emerging as a hub for pharmaceutical and biotechnology companies; the city is home to about 85 of them. The city was ranked by the headquartered in Austin.

 

"

 

View Our Factoring YouTube Video 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:

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

 

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

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

 

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

 

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

 

 

"

Since the mid 1980s Sullivan Truck & Haul have been successfully running their freight business. 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 boom times from 2002 to 2007 Sullivan Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. Times were great for everyone, and the cash was flowing.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 to a crawl

 

. And worse yet, Sullivan had noticed during the early part of 2008 that though the bulk of their clients were always on time with payments, the few late-bloomers there were, had seemingly started to spread this illness. And as spring turmed to summer and summer into the early days of fall, Mike White, CEO of Sullivan felt a chill go down his spine whenever he would look at the weekly A/R reports. The number of clients who were late in their payments was continuing to grow.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. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. 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!.The situation looked dire to Mike White. 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, Dawn, and still find no relief from the worry and frustration.

 

""Lin, I have a really bad feeling,"" he would say with deep woe.""Well, what do you think it is?"" she would ask.Mike 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 traveling, bringing goods to all of his clients. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. Why couldn�t he work out how to resolve this financial problem with his business?""I think I know what it could be,"" said Mike. ""I've relied too long on the profits I receive from invoices alone. For too long I've been allowing our clients to let their accounts become overdue."" 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.

 

""Mike knew his wife meant well, but he knew that he was responsible for too many people to sit idly by, waiting for the sun to peak over the clouds.The following day Mike walked into his office with a spring in his step, determined to call each and every client who owed money to Sullivan Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Mike knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. 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, Mike 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 Rubyerley knocked at his door.

 

""Can I have a word with you Mike?"" she queried, standing in the doorway.

 

""Sure thing Ruby, come on in."" Mike relaxed back into his chair and looked up at Rubyerley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Mike."" 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 of factoring?"" Rubyerley asked.""It does sound vaguely familiar. What is factoring""? he asked.She began, ""Well, it is really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Immediately?"" Mike interrupted.""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. 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,� Mike said. �And then what?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

This company tells us what the cost will be to purchase factoring for our accounts receivable. Once we arrive at a mutual agreement, the funding begins.�Leaning forward, Mike studied the documents very closely.""I do not know, Ruby - it just sounds too good to be true"", Mike said quietly.""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 Mike,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" asked Mike.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. It only takes 2 to 4 days for this to be figured out. ""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. 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,"" Mike said.He took a deep breath and looked at his secretary with something she recognized as hope.""Exactly�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Mike thought about this and agreed with Rubyerley. The clients who owed them money were long standing friends and professional resources of Sullivan. They did not want to throw away these relationships because they were having trouble paying their bills now. Mike knew only too well that the whole economy was floundering, and that it was not going to change overnight. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. 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 Ruby, and thankyou."" Ruby nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Mike sat behind his desk and looked over the details Ruby had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Sullivan 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. In fact, Sullivan could receive up to fifty-percent cash advances upon load pick-ups. Mike was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""Well, I'll have to tell Ronald about this,"" Mike muttered to himself.Mike's son-in-law, Ronald, loved the idea behind Sullivan 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. Mike knew then what struggles Ronald would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Sullivan was struggling then the little guys, like Ronald, were going to be in even more trouble.

 

But, maybe the answer for both of them was in freight factoring, and Mike was going to find out very soon.Some months later, having successfully gone through the entire process of the application, having experts study his credit history and statements and review his accounts receivable, Mike found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They took that time and refocused effort to offering competitive prices in new territories. Mike recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. He probably wouldn't be in business today had he not learned just in time about freight factoring.

 

"

 

"

Austin is the anchor city of the Austin-Round Rock-San Marcos MSA, which had a Gross Domestic Product of $86 billion in 2010. Austin is considered to be a major center for high tech. Thousands of graduates each year from the engineering and computer science programs at the University of Texas at Austin provide a steady source of employees that help to fuel Austin's technology and defense industry sectors. The region's rapid growth has led to rank the Austin metropolitan area number one among all big cities for jobs for 2012 in their annual survey and to rank the area number one for growing businesses. By 2013, Austin ranked No. 14 on ' list of the Best Places for Business and Careers (directly below Dallas, No. 13 on the list). The metro Austin area has much lower housing costs than the San Francisco Bay Area's Silicon Valley, but much higher housing costs than many parts of rural Texas. As a result of the high concentration of high-tech companies in the region, Austin was strongly affected by the dot-com boom in the late 1990s and subsequent bust. Austin's largest employers include the Austin Independent School District, the City of Austin, . In 2010, accepted a grant to build a downtown office that could bring as many as 200 jobs to the city. The proliferation of technology companies has led to the region's nickname, ""the Silicon Hills"", and spurred development that greatly expanded the city.Austin is also emerging as a hub for pharmaceutical and biotechnology companies; the city is home to about 85 of them. The city was ranked by the headquartered in Austin.

 

"

 

More Trucking Factoring Companies Story Articles

"

The Future of a Trucking Company, and Factoring Lawrence Richardson 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. Richardson Trucking Company was at a turning point of growth and Lawrence had to decide if signing with a factoring company was the right way forward.

 

Lawrence�s father had started as an owner-operator and had grown Richardson 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 Lawrence�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 Lawrence�s hands and he wanted to live to see it in better 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. Every time he had to turn down a request, Richardson Trucking looked weak in a very strong market.

 

His father would have told him to wait and to take his time adding on new technology. Lawrence allowed himself a good hard chuckle. His father had been against placing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. He knew his father's days were long gone and new technology was very important for the business, like having Qualcomm to reduce communication time for bills of lading.

 

Lawrence believed a successful man is always thinking of his next step. What would be the next step for Richardson 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. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

But was factoring the answer? If he was being honest, he did not really understand how it all worked. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Now it was time for Lawrence to do his homework. Lawrence 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! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

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. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He was quite happy to sign an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. He was more than happy with the figures he was offered in percentage terms on the freight bills. It sounded like a great scheme to him.

 

It was really refreshing dealing with the factoring people. They were extremely helpful and more personable than the bank staff. 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 Lawrence 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 would not have any problems, nor would they think poorly of Richardson Trucking, because the factoring companies handle themselves in such a polite and professional manner, similar to the way his father had managed the business in the past.

 

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

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� asked Daniel Wagner, reclining back into his chair and crossing his legs. The woman sitting across the desk from Daniel smiled at him, shaking her head.�Not quite,� she stated.Daniel was the owner of a small trucking company which had fallen on some hard times recently. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Patrick. He named his business Pearson Trucking, named after Derek and Alvin, his two grandfathers. Both of these men had been very hardworking and had set a great example for Patrick.Disaster had struck half a year ago, when two trucks in Patrick�s fifteen truck fleet went down. One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. The financial security of Patrick's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Daniel had on hand.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. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Daniel 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. Daniel knew she was employed by a Factoring company and that her name was Juanita. He had accidentally come across her company one night when he was working late, searching the internet to see if there was some solution to his financial dilemma.Juanita explained. �It�s not a loan, we purchase your accounts receivable. we are not giving you finance to be repaid later: we are purchasing something from you, and when you can you can buy it back. 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.Daniel nodded. It sounded perfect - perhaps too good?.Juanita laughed. �You look like you don�t believe me,� she said.�Oh no, I do: it just sounds too good to be true. I thought I was going to lose my company.�Juanita nodded. �Yes, we get a lot of that. There's no way we want to see you lose your business. You work hard, you�ve put everything you can into it. We all need help sometimes. That�s what we�re here for.""In any case, thank you for coming to see me.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Juanita with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Daniel filled the form out, with Juanita available to help him if he needed it. The profile filled Juanita and her company in on Patrick�s company, and would help them determine if he was suitable for factoring. In truth, not all companies were. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. Listening as Daniel filled out his form, Juanita was pretty sure he was a perfect candidate for factoring.When the form was done Juanita took it and slid it into her briefcase. Standing up, she reached over the desk and shook Patrick's hand. He also stood up, and they smiled at each other. Daniel walked Juanita to the door where they said 'Goodbye', then he went back into his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He leaned back and closed his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. Talking to Juanita though, learning about factoring, it felt like a weight had been lifted from 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 sudden panic attacks, not matter where he was. Already he could feel all the stress start to drain away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.His mind wandered back to the very beginning, when he first started his business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been really successful. Home cooking in his hometown, and he had done very well.But he had gotten bored. He wasn't passionate about 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 Pearson Trucking. And that's exactly what he did. 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 giving up wasn't part of his personality either.

 

Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He did not want to quit - both for himself and for his staff members.And now, because of factoring, he was sure he wouldn�t have to. Daniel opened his eyes, sat forward, turned his computer on. He had lots to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

The reason why Truck Companies Make use of Factoring Firms.

 

As the manager of your own company, you may perhaps be more than aware already of the difficulty in making certain that cash flow issues do not become a dilemma down the line. After all, the worst thing that can possibly happen for your company is to find yourself embroiled in a long and hard predicament that leaves you forever searching for the finances you are in need of on an on-going manner.

 

For just about any firm in this scenario, the problem can come for waiting for work to lapse and actually be brought in into your statement. Statements, checks, and the like could take a long time to actually to beprocessed which could leave you with temporary available resources problems. The good news is, there are approaches out there for companies to examine-- and among these is factoring providers.

 

Factoring firms will, in exchange for your bill of sales, offer you with the finances right now in order that you do not need to worry about the lingering time frame that could make paying out the bills and obtaining materialsmore hard. With this kind of setup, invoice factoring can become extraordinarily helpful for various firms who need to get out of a money lure which they have found themselves in.

 

Due to the fact that, basing on the scale of the task, it can take up to 60 days for many business enterprises to get compensated then it is vital to blanket your own back and not leave yourself funds short to pay the monthly bills. After all, how many businesses have two months earnings just occupying there to deal with all their costs till they make money?

 

This is especially correct of truck companies. They have the tendency to handle great deals of accounts which means a notable quantity of collection time involves company owner themselves. Attempting to get paid promptly can end up being an incredible hassle and this is precisely why you use trucking factoring firms who are pleased to help out truckers particularly.

 

As most of us recognize, trucking is an astonishingly massive industry with countless firms out there hiring hundreds of vehicle drivers. However, many of these drivers end up in cash difficulties for the reason that they are still anticipating work from six weeks previously to actually compensate them. When this is the situation for a trucking agency, turning to factoring providers for help might be the most recommended choice left.

 

This signifies that a trucking corporation can compensate the salaries of the work force, keep all the cars loaded with gas and continue to go up, develop and expand without consistently waiting for the income which is taking too prolonged to come in. Trucking Enterprises running without a factoring program applied are leaving themselves at critical hazard, as contenders cash out quickly and continue to expand.

 

There's genuinely almost nothing to be worried about when it comes to using a Factoring firm-- they usually are not like a financial institution or an individual who is going to leave you with a substantial mass of liability to repay. You give them legitimate invoices from output you have already finished , you are only speeding the repayment process.

 

In the United states of America, where trucking establishments prosper, factoring establishments are not considered accepting loan of in any capacity. This confidential agreement then enables both parties to make money and take pleasure in a worry-free future-- it provides the factoring business a secured asset of income to add to the list and it furnishes the trucking business the needed cash that they worked hard to earn.

 

The trucking business presents their accounts to the factoring establishment. The trucking factoring company then obtain the payment amounts from the trucking company's clients. Factoring has been in existence for hundreds of years and has been employed for long times by a lot of varied sectors-- but none more so than truckers. While you might possibly lose out on a small part of the money, something like 1-3 % depending upon who you work with, it means that you are receiving the finances today and can actually begin putting the resources to operate.

 

After all, an IOU or an invoice is definitely not going to finance overheads, is it? For trucking firms when the resources can be fantastic one day and gone the next, it is up to the vehicle drivers to work sensibly and to make sure that they are leaving themselves with a significant amount of time and finance to get through the week until they are paid for once again.

 

So the next instance your trucking establishment is having some momentary cash flow troubles and you are shelling out excessive time chasing slowly paying clienteles, why not begin looking into utilizing a factoring businesses as a method to get your money and give yourself a more worry-free future in the eyes of your trucking staff and your bank balance?

 

 

 

 

 

 

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Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. While these loans are handy they are not available to every business. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Once the loan is paid off, you can then apply for another loan if the need arises.

 

What Are Trucking Factoring Companies?

 

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

 

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

 

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. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

2. No Collateral Required. Another great benefit of using the services of a Trucking Factoring company instead of a bank loan is that there is no collateral required for the Trucking Factoring company, because the Trucking Factoring company is buying your accounts receivables. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This means that it is easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.

 

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

 

4.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 from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a 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. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very efficient at debt collecting, and this frees up your valuable time to devote to running your company.

 

Another bonus is that, because the Trucking Factoring company has evaluated the quality of your customers' credit before buying the accounts receivable, you learn valuable information regarding your customers, like which ones are likely to pay, and which ones are less likely to pay.A Trucking Factoring company is not the only method of gaining access to finance for the running and growing of your business, however it does offer a financing option well worth considering.

 

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Factoring Companies by City

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