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Little Cash Flow Leaks That Keep Companies Poor - Our Accounts Receivable Factoring Company Can Provide
Your Truck Company The Money You Need

factorinvoices.org

truck factoring definition

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trucking factoring service

Small freight businesses, especially those who have not been in existence for extremely long, will frequently discover it hard to secure a loan. Banks are typically reluctant to provide cash to companies that do not have a lot of earnings and properties. They also want proof of the viability of a company and thus need that the majority of operations, especially little ones, been around for a particular quantity of time prior to they are prepared to hand over any cash. Due to the fact that of this, a medium-size business typically has few money producing alternatives when needs arise. One option readily available, however commonly neglected, is factoring. This is an outstanding method for a small business to get money.

 

 

 

 

 

 

 

How To Get More Profit From Your Receivables - Choose A Freight�Factoring Company  Instead Of A Typical Bank Funding

Exactly how to Increase Money Flow Without Borrowing -Cash Money flow is one of the main 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 ever more. Do not be fooled -- banks are not the only locations you can get financing. Other options are available and you do not have to borrow money. Exactly what is truck factoring ? One option is called truck factoring. Trucking Factoring is the process of offering invoices to a financier instead of waiting to collect the cash from the client. Oh, the Irony- Truck factoring has a paradoxical difference: It is the monetary foundation of many of America's most successful businesses. Why is this paradoxical ? Because accounts receivable factoring is not taught in business colleges, is rarely mentioned in business strategies and is relatively unidentified to bulk of most of American business individuals.

Yet it is a monetary process that frees billions of dollars every year, allowing thousands of companies to grow and succeed. Receivable Funding has actually been around for countless years. Receivable Loan Funding Businesses are investors who pay cash for the right to get the future payments on your invoices. An overdue receivable or invoice has value. It is a debt your client has actually to pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business deals, a big percentage of the retail business uses a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail transactions. Using the purest definition of the word, these large customer finance business are truly just large Receivable Funding Companies of customer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The shop makes money practically immediately, although you do not make payment up until you are ready.

For this service, the charge card company charges Sears a fee (typical common normal charges vary from two to 4 percent of the sale). The Advantages Staffing Factoring can provide numerous benefits to cash-hungry companies. Instead of waiting 30, 60, 90 days or longer for payment on an item that has already been provided, a company can factor (sell) its receivables for money at a small discount off the amount of the invoice. Payroll, marketing efforts, and working capital are simply a few of the business needs that can be met with instant  money.

Receivable Loan Financing provides the ways for a manufacturer to replenish inventory and make more products to sell: There is no longer a requirement to await for earlier sales to be paid. Receivable Loan Financing is not simply a money management device for producers: Almost any kind company can benefit from Receivable Loan Financing. Generally, a business that extends credit will have 10 to 20 percent of its annual sales bound in accounts receivable at any given time. Think for a minute about exactly how much is bound in 60 days' worth of invoices: You can not pay the power bill or today s payroll with a customer s invoice, but you can offer that invoice for the money to meet those obligations. Using trucking factoring companies is a quick and simple procedure. The factor buys the invoice at a discount, usually a few portion points less than the face value of the invoice.

 

 

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The American Trucking Association
specifies that there around
200,000 workers with truck
businesses and
250,000 private service providers trucking
companies licensed to
operate in the U.S. that transferred,
according to their latest data of millions
products, supplies and
standard products .
There are numerous common
providers either going solo or in
groups on our nation
highways transferring these
crucial items to our
stores, manufacturingplants and harbors.

And freight invoice factoring
firms benefit
many of them and offer their
accounts receivablesfinancing services
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

 

"

Minneapolis, the largest city in Minnesota and the seat of Hennepin County, is located in the southeast central part of the state on the Mississippi River. It is adjacent to its �twin city� of St. Paul.In 1680, Father Louis Hennepin visited the future site of Minneapolis and gave the Falls of St. Anthony their name. Lt. Zebulon Pike made a treaty with the Sioux Indians in 1805�1806, by which they ceded to the whites much land, including the Falls of St. Anthony and the site of Minneapolis. Fort Snelling was built in 1819�1820, and in 1823 the government built a lumber and flour mill. Flour milling became the major industry of early Minneapolis and made the city the milling capital of the world. The town of St. Anthony was established on the east bank of the Mississippi in 1848, and the town of Minneapolis grew up on the opposite bank of the river. The name Minneapolis is a combination of the Dakota Sioux word �minna,� for water, and the Greek word �polis,� for city. Minneapolis was incorporated as a city in 1867, and in 1872 the city of St. Anthony (chartered in 1860) was annexed to it. After the spread of the railroads in the 1870s, Minneapolis became the gateway to the Northern Great Plains.Minneapolis is a center of industry and commerce serving a large agricultural region. During the 20th century, manufacturing, food processing, milling, computers, health services, and graphic arts developed as Minneapolis's major industries. Fifteen Fortune 500 companies are headquartered in the Minneapolis�St. Paul metropolitan area. The city is the headquarters of the Ninth Federal Reserve Bank.The Twin Cities are known for their wide array of cultural attractions, and Minneapolis is home to many fine museums, including the Minneapolis Institute of Arts, the Walker Center, and the Frederick R. Weisman Art Museum at the University of Minnesota's Minneapolis campus.The Twin Cities, Minneapolis and St. Paul, hosted the 2008 Republican National ConventionThe Minneapolis�St. Paul area is the second largest economic center in the Midwest, behind Chicago. The economy of Minneapolis today is based in commerce, finance, rail and trucking services, health care, and industry. Smaller components are in publishing, milling, food processing, graphic arts, insurance, education, and high technology. Industry produces metal and automotive products, chemical and agricultural products, electronics, computers, precision medical instruments and devices, plastics, and machinery. The city at one time produced farm implements..Availability of Wi-Fi, transportation solutions, medical trials, university research and development expenditures, advanced degrees held by the work force, and energy conservation are so far above the national average that in 2005, Popular Science named Minneapolis the ""Top Tech City"" in the U.S. The Twin Cities ranked the country's second best city in a 2006 Kiplinger's poll of Smart Places to Live and Minneapolis was one of the Seven Cool Cities for young professionals.The Twin Cities contribute 63.8% of the gross state product of Minnesota. The area's $199.6 billion gross metropolitan product and its per capita personal income rank thirteenth in the U.S. Recovering from the nation's recession in 2000, personal income grew 3.8% in 2005, though it was behind the national average of 5%. The city returned to peak employment during the fourth quarter of that year.The Federal Reserve Bank of Minneapolis, serves Minnesota, Montana, North and South Dakota, and parts of Wisconsin and Michigan. The smallest of the 12 regional banks in the Federal Reserve System, it operates a nationwide payments system, oversees member banks and bank holding companies, and serves as a banker for the U.S. Treasury. The Minneapolis Grain Exchange founded in 1881 is still located near the riverfront and is the only exchange for hard red spring wheat futures and options

 

"

 

View Our Freight Factoring Companies YouTube Videos For More Information

 

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

 

"

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

 

. Worse still, it was noticed by Martin 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. And as spring turmed to summer and summer into the early days of fall, George Douglas, CEO of Martin 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 gone to his administrators and asked them what the problem had been. Were they doing things different, or wrong, when it came to collecting overdue accounts? When checking his bookkeeper's records this was definitely not the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Martin money had jumped ship and decided to leave him holding the bag.

 

. They could not afford to pay him their debt, but they could afford a lesser service, maybe. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. The had just gone!.The situation looked dire to George Douglas. 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. After work he would confide in his wife, Sandra, and neither were unable to stop the constant worry over the lack of funds.""Lin, I have a really bad feeling,"" he would say with deep woe.""What could you do differently?"" she would ask.George would stare off for a moment and then close eyes. He could see the fleet of trucks he had purchased over the years. He could see them traveling, bringing goods to all of his clients. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. Why couldn�t he work out how to resolve this financial problem with his business?""I think I know what it could be,"" George said. ""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."" All Sandra could do was hold his hand and look at him tenderly. 'We know it is a difficult economy at the moment - perhaps it will take a while for people to get on top of their bills'.""George knew very well that Sandra 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 George walked into his office with a spring in his step, determined to call each and every client who owed money to Martin 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. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. A waste of time - a waste of money - he had the best intentions, but all the while George was realising just how much trouble he was in.Poor George spent the whole morning trying in vain to contact his debtors: they promised to call back, dodged his calls, or made small interest-only payments. He was beginning to feel quite despaired when his secretary knocked on his door.

 

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

 

""Of course Hilda, please come in."" George relaxed back into his chair and looked up at Hildaerley.""Well George, this afternoon I did some research, trying to work out how we are going to get out of this mess."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard of factoring?"" she asked.""It does sound vaguely familiar. What is factoring""? he asked.""Well,"" she began, ""It�s actually quite simple really.

 

So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Immediately?"" George interrupted.""Immediately, yes"" she added, ""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.""George replied cautiously ""I see - and what happens then?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

This company tells us what the cost will be to purchase factoring for our accounts receivable. We come to an agreement and the funding starts pouring out.�George was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Hilda,"" he said.""Now, now, I know, I thought the same thing. But think about it, George: 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. And they're flexible George,"" she drew a circle around a paragraph on the document before him.""How flexible?"" he asked.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. Apparently they can figure this all out in two to four days.

 

""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,"" George said.George took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""George thought about this and agreed with Hildaerley. The customers who were in debt to Martin Truck & Haul were professional resources of the company, but they were also long-standing friends. Just because they were experiencing difficulties paying their own bills now, George was very concerned about losing these relationships. George knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. Of course he did not want to lose any more money, but he did not want to lose business either.""Well, let me think about this tonight Hilda, thank you."" Hilda nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.George 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 Martin 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, Martin could receive up to fifty-percent cash advances upon load pick-ups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""I must tell Floyd the good news,"" George muttered to himself.George's son-in-law, Floyd, loved the idea behind Martin 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. George knew then what struggles Floyd would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Martin was struggling then the little guys, like Floyd, were going to be in even more trouble. But, maybe the answer for both of them was in freight factoring, and George 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, George 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. George 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.

 

"

 

"

Minneapolis, the largest city in Minnesota and the seat of Hennepin County, is located in the southeast central part of the state on the Mississippi River. It is adjacent to its �twin city� of St. Paul.In 1680, Father Louis Hennepin visited the future site of Minneapolis and gave the Falls of St. Anthony their name. Lt. Zebulon Pike made a treaty with the Sioux Indians in 1805�1806, by which they ceded to the whites much land, including the Falls of St. Anthony and the site of Minneapolis. Fort Snelling was built in 1819�1820, and in 1823 the government built a lumber and flour mill. Flour milling became the major industry of early Minneapolis and made the city the milling capital of the world. The town of St. Anthony was established on the east bank of the Mississippi in 1848, and the town of Minneapolis grew up on the opposite bank of the river. The name Minneapolis is a combination of the Dakota Sioux word �minna,� for water, and the Greek word �polis,� for city. Minneapolis was incorporated as a city in 1867, and in 1872 the city of St. Anthony (chartered in 1860) was annexed to it. After the spread of the railroads in the 1870s, Minneapolis became the gateway to the Northern Great Plains.Minneapolis is a center of industry and commerce serving a large agricultural region. During the 20th century, manufacturing, food processing, milling, computers, health services, and graphic arts developed as Minneapolis's major industries. Fifteen Fortune 500 companies are headquartered in the Minneapolis�St. Paul metropolitan area. The city is the headquarters of the Ninth Federal Reserve Bank.The Twin Cities are known for their wide array of cultural attractions, and Minneapolis is home to many fine museums, including the Minneapolis Institute of Arts, the Walker Center, and the Frederick R. Weisman Art Museum at the University of Minnesota's Minneapolis campus.The Twin Cities, Minneapolis and St. Paul, hosted the 2008 Republican National ConventionThe Minneapolis�St. Paul area is the second largest economic center in the Midwest, behind Chicago. The economy of Minneapolis today is based in commerce, finance, rail and trucking services, health care, and industry. Smaller components are in publishing, milling, food processing, graphic arts, insurance, education, and high technology. Industry produces metal and automotive products, chemical and agricultural products, electronics, computers, precision medical instruments and devices, plastics, and machinery. The city at one time produced farm implements..Availability of Wi-Fi, transportation solutions, medical trials, university research and development expenditures, advanced degrees held by the work force, and energy conservation are so far above the national average that in 2005, Popular Science named Minneapolis the ""Top Tech City"" in the U.S. The Twin Cities ranked the country's second best city in a 2006 Kiplinger's poll of Smart Places to Live and Minneapolis was one of the Seven Cool Cities for young professionals.The Twin Cities contribute 63.8% of the gross state product of Minnesota. The area's $199.6 billion gross metropolitan product and its per capita personal income rank thirteenth in the U.S. Recovering from the nation's recession in 2000, personal income grew 3.8% in 2005, though it was behind the national average of 5%. The city returned to peak employment during the fourth quarter of that year.The Federal Reserve Bank of Minneapolis, serves Minnesota, Montana, North and South Dakota, and parts of Wisconsin and Michigan. The smallest of the 12 regional banks in the Federal Reserve System, it operates a nationwide payments system, oversees member banks and bank holding companies, and serves as a banker for the U.S. Treasury. The Minneapolis Grain Exchange founded in 1881 is still located near the riverfront and is the only exchange for hard red spring wheat futures and options

 

"

 

More Trucking Factoring Companies Story Articles

Factoring in the Future of a Trucking Business: A Story The phone was ringing on his desk, and Dustin Carroll just sat there letting it ring. 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. Carroll Trucking Company was at a turning point of growth and Dustin had to decide if signing with a factoring company was the right way forward.

 

Dustin�s father had started as an owner-operator and had grown Carroll 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 Dustin�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. Now the company was solely in Dustin�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. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. He knew that turning down these requests made Carroll 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. Dustin allowed himself a good hard chuckle. 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.

 

Dustin knew he was right in his forward thinking. How would he take Carroll Trucking to the next level? And how would he be able to afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

But was factoring the answer? There was a lot he didn�t understand about the process. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. 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 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 Dustin to do his homework. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more 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. 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. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. 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 sounded like a great scheme to him.

 

For Dustin it was quite a relief to be dealing with the factoring company. They were more personable than those loan managers at the bank. 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 didn�t worry over his credit and the debt troubles his father had had in the past of the company. Factoring was based on the credit of his customers and on their reliability which worked well for Dustin because he and his father had built up good strong relationships over decades with their list of clients. So he knew they would understand when the factoring company contacted them for the invoices. His clients wouldn�t think poorly of Carroll Trucking and the factoring companies appeared capable of handling the accounts receivable in the same polite manner that his father had used over the years.

 

Dustin 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, Dustin could actually expand Carroll 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.

 

 

 

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Trucking Factoring  Articles

"

�So It is not a loan?� asked Jose Webb, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she said.Jose Webb 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 Jaime. His company was called Jensen Trucking, named after both of his grandfathers, Jesus and Brett. They had both been hardworking men, and had done a lot to make Jose the same.Disaster had struck half a year ago, when two trucks in Jaime�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. Jose 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 Jose had on hand.A big problem a lot of trucking companies came across was how bills were paid in the industry. You could go a month or more before bills were completely paid off. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Jose was an excellent business man, and he certainly hadn't done anything wrong. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.And that's why he found himself across the desk from this woman. Her name was Olga and she worked for a factoring company. Jose 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.Olga explained. �it is really not a loan at all: we actually buy your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. That way we�re protected from a complete loss, but you�re protected from the outrageous fees you would find in a loan from the bank.Jose agreed. It sounded good to him, almost too good.The woman laughed. �You look like you don�t believe me,� she chuckled.�No, I do, I just think it sounds a bit too good to be true. I actually thought I might end up losing my business.�Olga smiled, agreeing. �Yes, we get a lot of that. Listen, I�d hate to see you lose your company. We know how hard you work, and that you've invested everything in your business. We all need help sometimes. That's why we do what we do.""Well, I'm very grateful that you came to see me today.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� Olga said with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Jose filled the form out, with Olga available to help him if he needed it. The completed profile gave Olga and her company all the information they needed on Jaime's business, and with this information they would determine if this business would in fact be suitable for Factoring. Unfortunately, not all companies are. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. As Jose completed his form, Olga listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Olga took it and slid it into her briefcase. She then stood, reached across the desk and shook Jaime�s hand. He stood before they shook as well, and then smiled. Jose walked Olga to the door where they said 'Goodbye', then he went back into his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He 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. But now, after speaking to Olga and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.All those long, sleepless nights. The terrifying panic attacks that occurred regardless of where he was. Already he could feel all the stress start to drain away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was there, he was on the right path, and he was working to make things right.Jose 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. Home cooking in his hometown, and he had done very well.But he had gotten bored. His passion didn�t lie with the food industry. He thought long and hard, and then he decided to sell the restaurant. He took six months off, and during that time he decided to create Jensen Trucking. So he did it. For the second time in his short life he created a company from the ground up. He had been successful.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was nearing fifty. He didn�t think he had it in him, to save this company. But giving up wasn't part of his personality either.

 

The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He did not want to quit - both for himself and for his staff members.And now it seemed as though he would not have to - all because of Factoring. Jaime's eyes opened, he sat forward in his chair and turned on his computer. He had lots to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

Precisely why Truck Firms Use Factoring Companies.

 

As the operator of your own establishment, you may be more than mindful already of the difficulty in making sure that cash flow concerns do not become a difficulty down the line. Anyway, the most awful thing that can potentially come about for your establishment is to find yourself swept up in a long and tough circumstance that leaves you forever searching for the finances you need on an continuous basis.

 

For pretty much any enterprise in this position, the issue can come for waiting for work to lapse and actually be paid into your bank account. Statements, checks, and the like can take a long time to actually to be taken care of which can easily leave you with temporary capital problems. Thankfully, there are approaches out there for companies to explore-- and one of these is factoring providers.

 

Factoring providers will, in trade for your invoices, give you with the cash right now in order that you do not have to stress over the lingering time frame that could make paying the expenses and acquiring toolsmore difficult. With this kind of system, invoice factoring can become extraordinarily useful for countless enterprises who ought to avoid a cash ploy which they have discovered themselves in.

 

For the reason that, relying on the scale of the task, it can take up to 60 days for several firms to get paid out then it is necessary to blanket your own back and certainly not leave yourself money short to pay the costs. After all, how many companies possess two months revenue just lying there to cover all their overheads till they make money?

 

This is most especially correct of truck companies. They usually manage good deals of accounts which means a notable quantity of collection period demands business owner themselves. Making an effort to get compensated promptly can turn into an amazing difficulty and this is the reason why you make use of trucking factoring agencies who are delighted to help out truckers mainly.

 

As all of us determine, trucking is an astonishingly large market with many companies out there hiring hundreds of vehicle drivers. Regrettably, quite a few of these drivers land up in finances troubles since they are still waiting on work from six weeks in the past to actually pay them. When this is the circumstance for a truck agency, consulting factoring companies for aid might be the very best choice left.

 

This implies that a trucking corporation can provide the paychecks of the workers, keep all the cars refilled with gas and continue to scale, thrive and expand without always waiting for the cash which is taking too prolonged to come in. Trucking Establishments running without a factoring program established are leaving themselves at significant danger, as contenders cash out promptly and proceed to develop.

 

There's genuinely not a thing to be distressed about when it comes to employing a Factoring business-- they typically are not like a financial institution or a person who is going to leave you with a significant pile of financial debt to repay. You give them genuine invoices from output you have already completed , you are only just accelerating the repayment system.

 

In the United States, where trucking agencies thrive, factoring enterprises are not considered accepting loan of in any capacity. This confidential contract then permits both parties to benefit and delight in a worry-free future-- it provides the factoring business a secured resource of revenue to put into the list and it gives the trucking company the needed funds that they worked hard to generate.

 

The trucking establishment provides their accounts to the factoring enterprise. The trucking factoring business then acquire the payments from the trucking company's clients. Factoring has been in existence for hundreds of years and has been used for long times by numerous varied business sectors-- but none much more so than truckers. While you might miss out on a small part of the money, something like 1-3 % depending on who you partner with, it indicates that you are acquiring the money today and can actually start off putting the cash to work.

 

Once and for all, an IOU or an invoice is not actually going to finance overheads, is it? For trucking agencies when the income can be really good one day and gone the next, it is up to the vehicle drivers to work smartly and to make certain they are leaving themselves with a considerable volume of time and money to get through the week till they are compensated again.

 

So the next moment your trucking establishment is enduring some momentary cash flow concerns and you are investing way too much time chasing slow paying customers, why not start looking at making use of a factoring businesses as a way to get your money and give yourself a more pleasant future in the eyes of your trucking workers and your bank dividend?

 

 

 

 

 

 

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Traditional 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. 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. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once 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

 

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

 

1. You will not Incur Debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. 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. 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. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.

 

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

 

As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The most important benefits is that once you sell your accounts receivable to the factory company, you do not have to take time away from running your business to collect the money owed from reluctant to pay customers. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

Another bonus is that, because the Trucking Factoring company has evaluated the quality of your customers' credit before buying the accounts receivable, you learn valuable information regarding your customers, like which ones are likely to pay, and which ones are less likely to pay.While a Trucking Factoring company is not the only way for your business to obtain the money it needs to keep growing, it does offer a type of financing well worth considering.

 

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Factoring Companies by City

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