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Six Types of Companies - Which Group Are You In? - Our Trucking Factoring Company Can Provide
Your Truck Company The Cash You Want

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Factoring invoices is beneficial for numerous reasons. It permits a trucking company to raise cash without acquiring brand-new debt. While financial obligation is sometimes required, the majority of trucking companies would like to raise money without obtaining cash. Financial obligation is dangerous, and when it can not be paid back, possessions can be repossessed. If the debt is large enough, it might even require a trucking firms out of business.

 

 

 

 

 

 

 

How Much is Your Cash Flow "Tension" Costing Your Company - Pick A Freight�Invoice Factoring Company  Instead Of A Typical Bank Financing

How to Increase Money Flow Without Borrowing -Cash Money flow is one of the main reasons businesses fail.

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

Cash flow does not have to be a problem any more. Do not be deceived -- 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 option is called truck factoring. Truck Factoring is the procedure of selling invoices to a financier rather than waiting to collect the cash from the customer. Oh, the Irony- Trucking factoring has an ironic difference: It is the financial backbone of many of America's most successful businesses. Why is this paradoxical ? Since factoring is not taught in business colleges, is seldom mentioned in company strategies and is relatively unidentified to the majority of most of American business individuals.

Yet it is a monetary process that frees billions of dollars every year, enabling countless businesses to grow and prosper. Receivable Financing has been around for thousands of years. FACTORING Companies are financiers who pay money for the right to receive 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 solely with business-to-business transactions, a large portion of the retail company utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a type of factoring in their retail transactions. Using the purest definition of the word, these big customer finance companies are truly simply big Factoring Businesses of customer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The store gets paid almost immediately, even though you do not make payment until you are prepared.

For this service, the credit card business charges Sears a fee (typical common normal fees vary from two to 4 percent of the sale). The Benefits Receivable Financing can provide numerous advantages to cash-hungry business. Rather than wait 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 dollar value of the invoice. Payroll, advertising efforts, and working capital are simply a few of the business needs that can be met with instant  cash.

Invoice Factoring provides the means for a producer to replenish inventory and make even more products to offer: There is no longer a requirement to wait for earlier sales to be paid. Receivable Loan Financing is not simply a cash management tool for manufacturers: Almost any type business can benefit from Receivable Loan Funding. Generally, a company that extends credit will have 10 to 20 percent of its yearly sales tied up in invoices at any given time. Think for a minute about exactly how much is tied up in 60 days' worth of invoices: You can not pay the power expense or this week s payroll with a customer s invoice, however you can offer that invoice for the cash to meet those responsibilities. Using trucking factoring companies is a fast and simple process. The factor purchases the invoice at a discount, usually a few percentage points less than the face value of the invoice.

 

 

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The United states Truck Organization
states that there are about
205,000 work with transportation
businesses and
250,000 personal service providers trucking
firms certified to
run in the U.S. that transferred,
according to their latest listings of millions of
products, materials and
basic products .
There are a number of typical
carriers either going solo or in
groups on our country
highways transporting these
crucial products to our
stores, manufacturing facilities and shipping ports.

Also trucking factoring
businesses benefit
numerous of them and offer their
receivables financing services
nationallycounting
including the following states.

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

 

 

The City of Chicago covers an area of 60,000 hectares and sits 176 meters (578 feet) above sea level on the southwestern shore of Lake Michigan. At 190 km wide and 495 km long, its the 5th largest body of fresh water in the world. The city is traversed by the Chicago and Calumet rivers. Chicago's extensive parklands, including 3,000 hectares of city parks attract an estimated 86 million visitors annually.As a multicultural city that thrives on the harmony and diversity of its neighborhoods, Chicago today embodies the values of America's heartland-integrity, hard work and community and reflects the ideals in the social fabric of its 77 distinct neighborhoods.Chicago is recognized across the United States as a very passionate sports town.Chicago is a leader in reforming public schools, enhancing public safety and security initiatives, providing afable housing in attractive and economically sound communities, ensuring accessibility for all and fostering, social, economic and environmental sustainability.Chicago is the largest city in Illinois and the seat of Cook County. It stretches for 22 mi along the southwest shore of Lake Michigan in the northeast part of the state.The first white men known to have visited the region were Louis Joliet and Jacques Marquette in 1673. The first permanent white settler was John Kinzie, who is sometimes called the Father of Chicago. He took over a trading post in 1796 that had been established in 1791 by Jean-Baptiste Point du Sable, a black fur trapper. Fort Dearborn, a blockhouse and stockade, was built in 1804 but was evacuated in 1812, at which time more than half of its garrison was massacred by Potawatomi and Ottawa Indians loyal to the British. The name Chicago is thought to come from an Algonquian word meaning �onion� or �skunk.�Laid out in 1830, Chicago was incorporated as a village in 1833 and as a city in 1837. In the Great Chicago Fire of 1871, an area of the city about 4 mi long and nearly a mile wide�more than two thousand acres�was totally destroyed. However, much of the city, including the railroads and stockyards, survived intact, and from the ashes of the old wooden structures there arose more modern constructions in steel and stone.Today, Chicago is a major Great Lakes port and the commercial, financial, industrial, and cultural center of the Midwest. The manufacturing industries dominate the wholesale and retail trade, and trade in agricultural commodities is important to the economy. The Chicago Board of Trade is the largest agricultural futures market in the world.Among Chicago's many attractions are the Art Institute of Chicago, the Field Museum of Natural History, the Jane Addams�Hull House Museum, Navy Pier, and numerous architectural landmarks such as the Sears Tower and Frank Lloyd Wright's Robie House.

 

 

 

 

Watch Our Truck Factoring Companies YouTube Videos For More Information

 

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

 

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

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

 

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

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

 

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

 

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

 

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

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

 

 

"

Since the mid 1980s Butler Truck & Haul have been successfully running their freight business. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the boom times from 2002 to 2007 Butler Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. Cash was flowing and times were good for all.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed down. Worse still, it was noticed by Butler in early 2008 that even though most of their loyal customers were on time with their payments, there were a few late bloomers who were starting to spread the disease. Spring changed to summer, summer changed to fall, and the CEO of Butler, Alan Neal, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable 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? 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. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Butler hadn't gone elsewhere. They had just gone home.The situation looked dire to Alan Neal. 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, Lois, and still find no relief from the worry and frustration.

 

""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""What could you do differently?"" she would say.Alan would stare off for a moment and then close eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them on the road, delivering good to all his loyal customers. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. Why couldn�t he work out how to resolve this financial problem with his business?""I think I know what it could be,"" said Alan. ""I've relied too long on the profits I receive from invoices alone. I've let too many of our customers go too long without paying on their bills."" 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.

 

""Alan knew very well that Lois 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 Alan walked into his office with a spring in his step, determined to call each and every client who owed money to Butler Truck & Haul. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. Wasting money, wasting time - even with the best of intentions, Alan knew that he was in trouble.

 

Poor Alan 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.

 

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

 

""Sure thing Sarah, come on in."" Alan leaned back in his chair and looked expectantly at Saraherely.""Well Alan, this afternoon I did some research, trying to work out how we are going to get out of this mess."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard the word factoring?"" she asked.""It does sound vaguely familiar. What is factoring""? he asked.""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.""Alan interrupted ""Immediately?"".""Immediately, yes"" she added, ""In a nutshell, it is pretty easy. We can have an expert account manager review our numbers and help us complete a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It�s a broad view.""Alan replied cautiously ""I see - and what happens then?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. There�s a lot of flexibility depending on the business volume and credit histories. The company will advise us the cost to purchase factoring for our company's accounts receivable. Once we arrive at a mutual agreement, the funding begins.�Alan leaned forward and reviewed the paperwork closely.""I do not know, Sarah - it just sounds too good to be true"", Alan said quietly.""Now, now, I know, I thought the same thing. But think about it, Alan: they've guaranteed that experts will do all the paperwork, and that will free us up to do what we should be doing - focusing on our customers in good standing, and that kind of stuff. They appear to be very flexible, Alan,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" asked Alan.""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,"" Alan said.Alan took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Precisely�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Alan took a moment to think about this solution, and agreed with his secretary. The clients who owed them money were long standing friends and professional resources of Butler. Alan wasn't prepared to lose these relationships just because they were having financial issues at the moment. Alan knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. That unknown amount of time could create a disaster situation for both of them if he wasn't careful in how these debtors were handled. He did not want to lose business but he also did not want to lose any more money.""Let me go over this tonight Sarah, and thankyou."" Sarah stood up and left Alan's office, with the nice feeling of knowing that she may just have solved a very serious problem.Alan sat behind his desk and looked over the details Sarah had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Butler 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, Butler 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 Joshua the good news,"" Alan muttered to himself.Alan's son-in-law, Joshua, loved the idea behind Butler 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. Alan knew then what struggles Joshua would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Butler was hurting, a little guy like Joshua was about to catch his death. Perhaps the antidote to these problems was in freight factoring, and they were about to find out.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Alan was beginning to find his way out of the hole his debtors had created for him.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. Alan 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.

 

"

 

 

More Trucking Factoring Companies Story Articles

"

The Future of a Trucking Company, and Factoring The phone was ringing on his desk, and Earl Griffin just sat there letting it ring. His morning coffee cooled and his cigarette smoked away in the tray: Earl is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Griffin Trucking Company had reached a turning point and he now had to make a decision as to whether he should sign up with a factoring company, and indeed if this would be a good or regrettable decision for his business.

 

Earl�s father had started as an owner-operator and had grown Griffin 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 Earl�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. But now things were different: the company was in Earl's hands and he needed to ensure that this business would be left in great shape for his sons.

 

To move Griffin Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. His employees needed to be paid. They had families and household bills too. 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 Griffin Trucking look inefficient and weak in what was currently a strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Earl allowed himself a good hard chuckle. He remembered when his father was totally against installing 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?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). His father days were long gone and technology was actually an important improvement for the business such as having Qualcomm to cut down on fruitless time communicating on the phone for bills of lading.

 

Earl knew he was right in his forward thinking. How would he take Griffin 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. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

He wondered about factoring - was this the answer for him? There was a lot he didn�t understand about the process. It sounded 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. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. 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 Earl 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. 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 friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

However, it all turned out to be very simple. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. 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. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It was good money.

 

For Earl it was quite a relief to be dealing with the factoring company. They were extremely helpful and more personable than the bank staff. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies 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 Earl 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 Griffin 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.

 

Feeling happier now, Earl stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. He suddenly realized that, with this new cash flow, he could actually expand Griffin 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.

 

"

 

 

 

 

 

 

 

Account Receivable Factor

 

Factoring Non Recourse

 

 

 

Watch Our Trucking Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So, this is not a loan?� asked Allen Hall, reclining back into his chair and crossing his legs. The woman sitting across the desk from Allen smiled at him, shaking her head.�No, not exactly,� she said.Allen was the owner of a small trucking company which had fallen on some hard times recently. Trucking could be a profitable business, and for a little under a decade, it had been for Kevin. His company was called Morales Trucking, named after both of his grandfathers, Sean and Barry. Both of these men had been very hardworking and had set a great example for Kevin.Disaster had struck half a year ago, when two trucks in Kevin�s fifteen truck fleet went down. One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. The financial security of Kevin's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.A big problem a lot of trucking companies came across was how bills were paid in the industry. Waiting a month or longer for bills to be paid was quite normal. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Allen wasn�t a bad owner, and he hadn�t messed up. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.That�s where the woman across the desk came in. Her name was Gertrude and she worked for a factoring company. Allen had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.She sat there now, and explained. �It�s not a loan, we purchase your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. 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.Allen agreed. It sounded perfect - perhaps too good?.Gertrude laughed. �I'm not sure that you 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.�Gertrude nodded. �We get that a lot. Listen, I�d hate to see you lose your company. You work hard, you�ve put everything you can into it. Sometimes you need help. That's why we do what we do.""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,� Gertrude said with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Allen filled the form out, with Gertrude available to help him if he needed it. The completed profile gave Gertrude and her company all the information they needed on Kevin'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. Listening as Allen filled out his form, Gertrude was pretty sure he was a perfect candidate for factoring.Gertrude took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Kevin's hand. He stood before they shook as well, and then smiled. They said their goodbyes and Allen walked her to the door, and then returned to his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He shut his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. Talking to Gertrude 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.The long nights, where he couldn�t sleep. The terrifying panic attacks that occurred regardless of where he was. He could feel it all fading away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was 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. At twenty-two and straight out of school he had opened a restaurant. 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 half a year off, and in that time he thought to start Morales Trucking. And that's exactly what he did. Once again he built a company from the ground up. The business had been an instant success.And then the trucks went down, and his success looked to be in flux. He was nearing fifty. He was concerned that he just did not have the energy left to try and save the business. But he couldn�t give up. The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He 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. Kevin's eyes opened, he sat forward in his chair and turned on his computer. He had things to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

"

 

 

 

More Trucking Factoring Company Story Articles

Why Trucking Establishments Utilize Factoring Companies.

 

As the operator of your own company, you may well be more than aware already of the difficulty in making certain that capital matters do not become a dilemma down the line. Anyway, the most terrible thing that can quite possibly transpire for your firm is to find yourself swept up in a long and perplexing predicament that leaves you forever looking for the money you need to have on an continuous basis.

 

For just about any enterprise in this instance, the complication can come for waiting for work to clear up and actually be provided into your balance. Statements, checks, and the like could take a long time to actually to beprocessed which can leave you with momentary available resources troubles. Thank goodness, there are approaches out there for establishments to check out-- and just one of these is factoring firms.

 

Factoring companies will, in trade for your accounts, grant you with the finances today in order that you do not need to worry about the delaying period which could make paying the bills and purchasing toolsmore hard. With this kind of setup, invoice factoring can end up being extraordinarily practical for several businesses who need to get out of a money ploy which they have gotten themselves in.

 

Considering that, depending upon the size of the work, it can take up to 60 days for a number of businesses to get paid out then it is vital to take care of your own back and definitely not leave yourself money short to settle the monthly bills. After all, how many businesses possess two months revenue just lying there to pay for all their expenses till they get paid?

 

This is most notably true of trucking companies. They generally deal with numbers of statements which means a substantial quantity of collection period concerns business owner themselves. Making an effort to get paid in time can become an unbelievable trouble and this is exactly why you employ truck factoring providers who are happy to help out truckers mainly.

 

As we all know, trucking is an extremely large field with a lot of agencies out there working with hundreds of vehicle drivers. Unfortunately, several of these drivers land up in cash issues given that they are still expecting work from six weeks ago to actually pay them. When this is the case for a trucking company, choosing factoring companies for aid may be the most ideal alternative left.

 

This signifies that a trucking firm can pay out the wages of the work force, keep all the cars loaded with gas and continue to go up, thrive and expand without constantly waiting for the income which is taking too lengthy to come in. Trucking Firms running without a factoring system used are leaving themselves at critical danger, as competitors cash out rapidly and proceed to expand.

 

There's genuinely not a thing to be troubled about when it comes to making use of a Factoring establishment-- they typically are not like a financial institution or an individual who is going to leave you with a considerable stockpile of financial obligation to pay back. You give them legitimate invoices from job you have already completed , you are only accelerating the payment system.

 

In the United states of America, where trucking enterprises survive, factoring companies are not considered getting a loan in any capacity. This private arrangement then enables both parties to make money and take pleasure in a comfortable future-- it provides the factoring business a guaranteed asset of cash flow to include in the list and it supplies the trucking company the needed cash that they worked hard to obtain.

 

The trucking establishment provides their invoices to the factoring enterprise. The trucking factoring provider then acquire the installment payments from the trucking company's clients. Factoring has been in existence for hundreds of years and has been utilized for decades by lots of different sectors-- but none much more so than truckers. While you could lose out on a small part of the money, something like 1-3 % depending upon who you partner with, it indicates that you are getting the resources today and can actually begin setting the resources to perform.

 

After all, an IOU or an invoice is not going to finance costs, is it? For trucking firms when the resources can be excellent one day and gone the next, it is up to the drivers to work smartly and to make sure they are leaving themselves with a substantial volume of time and finance to get through the week till they are compensated once more.

 

So the next time your trucking company is having some momentary cash flow dilemmas and you are shelling out excessive time chasing inactive paying clienteles, why not start looking at employing a factoring companies as a manner to get your finances and give yourself a more pleasant future in the eyes of your trucking team and your bank difference?

 

 

 

 

 

 

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Traditional Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. These loans can be a life-saver, but they're not always available to every business. 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. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

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 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.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

Not every business can benefit from Trucking Factoring account financing because you have to have a business with accounts receivable, however there are many benefits for those who can access this type of finance.

 

1. There is no debt. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. 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. You'll receive the 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. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

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

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The most important benefits is that once you sell your accounts receivable to the factory company, you do not have to take time away from running your business to collect the money owed from reluctant to pay customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very 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.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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