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Is The Life of a Receivable Worth $1 to You - Our Freight Invoice Factoring Companies Can Give
Your Truck Company The Money You Want

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Using a Truck Factoring Company is advantageous for several factors. It enables a truck firm to raise money without obtaining new debt. While financial obligation is sometimes required, most truck companies would like to raise money without borrowing cash. Debt is high-risk, and when it cannot be paid back, properties can be repossessed. If the financial obligation is large enough, it could even force a truck businesses out of business.

 

 

 

 

 

 

 

How To Make a Good Profits - Select A Trucking�Factoring Company  Instead Of A Traditional Bank Funding

Exactly how to Enhance Money Flow Without Loaning -Cash Money flow is one of the primary reasons businesses fail.

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

Money flow does not have to be a problem any more. Do not be deceived -- banks are not the only locations you can get funding. Other solutions are available and you do not have to borrow. Exactly what is trucking factoring ? One solution is called trucking factoring. Truck Factoring is the procedure of selling invoices to an investor rather than waiting to gather the money from the customer. Oh, the Irony- Trucking factoring has an ironic difference: It is the financial foundation of numerous of America's most successful businesses. Why is this paradoxical ? Because commercial factoring is not taught in business colleges, is seldom discussed in business strategies and is fairly unknown to bulk of most of American company people.

Yet it is a monetary procedure that releases up billions of dollars every year, enabling thousands of companies to grow and succeed. Receivable Loan Funding has been around for thousands of years. Factoring Businesses are investors who pay money for the right to get the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your customer has agreed pay in the near future. Factoring Principals--Although factoring offers solely with business-to-business deals, a large percentage of the retail company uses a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail transactions. Utilizing the purest meaning of the word, these big customer finance business are truly simply big Accounts Receivable Factoring Businesses of consumer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The store gets paid practically instantly, although you do not make payment until you are ready.

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

Invoice Factoring offers the ways for a producer to replenish inventory and make more products to sell: There is no longer a requirement to wait for earlier sales to be paid. Receivable Loan Financing is not just a cash management tool for manufacturers: Almost any type company can take advantage of Accounts Receivable Factoring. Generally, a company that extends credit will have 10 to 20 percent of its annual sales tied up in accounts receivable at any given time. Think for a minute about 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 client s invoice, however you can sell that invoice for the cash to satisfy those responsibilities. Using truck factoring companies is a quick and easy process. The factor buys the invoice at a price cut, usually a couple of percentage points less than the face value of the invoice.

 

 

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The U.s. Truck Organization
states that there are about
205,000 work with transportation
firms and
250,000 personal providers trucking
companies accredited to
operate in America that carried,
according to their latest listings of millions of
products, supplies and
basic products .
There are a number of common
carriers either going solo or in
groups on our country
roadways carrying these
crucial products to our
shops, factories and shipping ports.

Furthermore freight factoring
firms support
numerous of them and offer their
factoring services
countrywidecounting
including the following states.

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

 

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The Minneapolis�Saint Paul�Bloomington area employs 1,570,700 people in the private sector as of July 2008, 82.43 percent of which work in private service providing-related jobs.Major corporations headquartered in Saint Paul include Ecolab, a chemical and cleaning product company which was named in 2008 by the Minneapolis / St. Paul Business Journal as the eighth best place to work in the Twin Cites for companies with 1,000 full-time Minnesota employees, Securian Financial Group Inc. and Gander Mountain, a retailer of sporting goods which operates 115 stores in 23 states.The 3M Company is often cited as one of Saint Paul's companies, though it is located in adjacent Maplewood, Minnesota. 3M employs 16,000 people throughout Minnesota. St. Jude Medical, a manufacturer of medical devices, is directly across the municipal border of Saint Paul in Little Canada, though the company's address is listed in Saint Paul.The city was home to the Twin Cities Assembly Plant, which opened in 1924 and closed at the end of 2011. The site is located in Highland Park on the Mississippi River adjacent to Lock and Dam No. 1, Mississippi River which generates hydroelectric powerSaint Paul is the capital and second-most populous city of the state of Minnesota. As of 2013, the city's estimated population was 294,873. Saint Paul is the county seat of Ramsey County, the smallest and most densely populated county in Minnesota. The city lies mostly on the east bank of the Mississippi River in the area surrounding its point of couence with the Minnesota River, and adjoins Minneapolis, the state's largest city. Known as the ""Twin Cities,"" the two form the core of Minneapolis�Saint Paul, the 16th-largest metropolitan area in the United States, with about 3.46 million residents.Founded near historic Native American settlements as a trading and transportation center, the city rose to prominence when it was named the capital of the Minnesota Territory in 1849. Though Minneapolis is better-known nationally, Saint Paul contains the state government and other important institutions. Regionally, the city is known for the Xcel Energy Center, home of the Minnesota Wild, and for the Science Museum of Minnesota. As a business hub of the Upper Midwest, it is the headquarters of companies such as Ecolab. Saint Paul, along with its Twin City, Minneapolis, is known for its high literacy rate. It was the only city in the United States with a population of 250,000 or more to see an increase in circulation of Sunday newspapers in 2007.The settlement originally began at present-day Lambert's Landing, but was known as Pig's Eye after Pierre ""Pig's Eye"" Parrant established a popular tavern there. When Fr. Lucien Galtier, the first Catholic pastor of the region, established the Log Chapel of Saint Paul (shortly thereafter to become the first location of the Cathedral of Saint Paul), he made it known that the settlement was now to be called by that name, as ""Saint Paul as applied to a town or city was well appropriated, this monosyllable is short, sounds good, it is understood by all Christian denominations..."".[

 

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

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

 

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

 

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

 

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.

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

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

 

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

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

 

 

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Oliver Truck and Haul has been in business since the mid 1980s. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the boom times from 2002 to 2007 Oliver Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. Times were great for everyone, and the cash was flowing.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed down. Worse still, it was noticed by Oliver 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 Oliver, Milton Simmons, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. There was a growing list of clients who now owed them back debt.He had already been to the administrators to ask what the actual problem was. Were they doing something wrong or different when it came to reaching out to delinquent accounts? When checking his bookkeeper's records this was definitely not the case. 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. They could not afford to pay him their debt, but they could afford a lesser service, maybe. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Oliver hadn't gone elsewhere. The had just gone!.This current state-of-affairs was causing Milton Simmons to have some very restless nights. Milton was very concerned, because there were constant overheads, goods to ship, employees to pay, and trucks which needed to be maintained, but there just wasn't the money coming back into the business. After work he would confide in his wife, Ella, and neither were unable to stop the constant worry over the lack of funds.""I have a bad feeling, Lin,"" he would say with deep woe.""Well, what do you think it is?"" she would ask.Milton would stare off into the distance, and then slowly close his eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them on the road, delivering good to all his loyal customers. But 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 know what it is,"" said Milton. ""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."" Ella would look at her husband lovingly, and holding his hand would say 'it is such a harsh economy these days and our clients must be having difficulty meeting their responsibilities'.""Milton knew his wife meant well, but he knew that he was responsible for too many people to sit idly by, waiting for the sun to peak over the clouds.The following day Milton walked into his office with a spring in his step, determined to call each and every client who owed money to Oliver Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Milton knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. Wasting money, wasting time - even with the best of intentions, Milton knew that he was in trouble.

 

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

 

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

 

""Sure thing Debra, come on in."" Milton leaned back in his chair and looked expectantly at Debraerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Milton."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard of factoring?"" she asked.""It sounds vaguely familiar. What is factoring""? he asked.She began, ""Well, it is really very simple. So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Immediately?"" Milton interrupted.""Immediately, yes"" she added, ""it is actually very simple. We start by having a professional account manager review our figures and help us set up a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It provides a very broad view.""Milton 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. Once we arrive at a mutual agreement, the funding begins.�Milton was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Debra,"" he said.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Milton: 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, Milton,"" she underlined a paragraph on the paper before him.""How flexible?"" asked Milton.""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. It only takes 2 to 4 days for this to be figured out. ""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" Milton said.He took a deep breath and looked at his secretary with something she recognized as hope.""Exactly�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Milton took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Oliver 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, Milton was very concerned about losing these relationships. Milton knew only too well that the whole economy was floundering, and that it was not going to change overnight. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. Of course he did not want to lose any more money, but he did not want to lose business either.""Let me go over this tonight Debra, and thankyou."" Debra stood up and left Milton's office, with the nice feeling of knowing that she may just have solved a very serious problem.Milton sat behind his desk and looked over the details Debra had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Oliver 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. Milton was surprised: it said that his company could get up to fifty percent cash advances on load pickups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""I must tell Glenn the good news,"" Milton muttered to himself.His son-in-law Glenn had liked the idea of Oliver so much and revered his father in law for having such business acumen that only two years before, he had gathered the venture capital to begin his own transportation service company. Milton knew then what struggles Glenn would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Oliver was struggling then the little guys, like Glenn, were going to be in even more trouble.

 

Perhaps the antidote to these problems was in freight factoring, and they were about to find out.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Milton found himself beginning to dig his way out of the hole his delinquent account holders had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They used that time to refocus their efforts in being competitive in new territories. Milton 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.

 

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The Minneapolis�Saint Paul�Bloomington area employs 1,570,700 people in the private sector as of July 2008, 82.43 percent of which work in private service providing-related jobs.Major corporations headquartered in Saint Paul include Ecolab, a chemical and cleaning product company which was named in 2008 by the Minneapolis / St. Paul Business Journal as the eighth best place to work in the Twin Cites for companies with 1,000 full-time Minnesota employees, Securian Financial Group Inc. and Gander Mountain, a retailer of sporting goods which operates 115 stores in 23 states.The 3M Company is often cited as one of Saint Paul's companies, though it is located in adjacent Maplewood, Minnesota. 3M employs 16,000 people throughout Minnesota. St. Jude Medical, a manufacturer of medical devices, is directly across the municipal border of Saint Paul in Little Canada, though the company's address is listed in Saint Paul.The city was home to the Twin Cities Assembly Plant, which opened in 1924 and closed at the end of 2011. The site is located in Highland Park on the Mississippi River adjacent to Lock and Dam No. 1, Mississippi River which generates hydroelectric powerSaint Paul is the capital and second-most populous city of the state of Minnesota. As of 2013, the city's estimated population was 294,873. Saint Paul is the county seat of Ramsey County, the smallest and most densely populated county in Minnesota. The city lies mostly on the east bank of the Mississippi River in the area surrounding its point of couence with the Minnesota River, and adjoins Minneapolis, the state's largest city. Known as the ""Twin Cities,"" the two form the core of Minneapolis�Saint Paul, the 16th-largest metropolitan area in the United States, with about 3.46 million residents.Founded near historic Native American settlements as a trading and transportation center, the city rose to prominence when it was named the capital of the Minnesota Territory in 1849. Though Minneapolis is better-known nationally, Saint Paul contains the state government and other important institutions. Regionally, the city is known for the Xcel Energy Center, home of the Minnesota Wild, and for the Science Museum of Minnesota. As a business hub of the Upper Midwest, it is the headquarters of companies such as Ecolab. Saint Paul, along with its Twin City, Minneapolis, is known for its high literacy rate. It was the only city in the United States with a population of 250,000 or more to see an increase in circulation of Sunday newspapers in 2007.The settlement originally began at present-day Lambert's Landing, but was known as Pig's Eye after Pierre ""Pig's Eye"" Parrant established a popular tavern there. When Fr. Lucien Galtier, the first Catholic pastor of the region, established the Log Chapel of Saint Paul (shortly thereafter to become the first location of the Cathedral of Saint Paul), he made it known that the settlement was now to be called by that name, as ""Saint Paul as applied to a town or city was well appropriated, this monosyllable is short, sounds good, it is understood by all Christian denominations..."".[

 

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More Trucking Factoring Companies Story Articles

Factoring in the Future of a Trucking Business: A Story The phone was ringing on his desk, and Alvin Matthews just sat there letting it ring. His morning coffee cooled and his cigarette smoked away in the tray: Alvin is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Matthews Trucking Company was at a turning point of growth and Alvin had to decide if signing with a factoring company was the right way forward.

 

Alvin�s father had started as an owner-operator and had grown Matthews 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 Alvin�s mother strapped herself into a cab to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. But now things were different: the company was in Alvin's hands and he needed to ensure that this business would be left in great shape for his sons.

 

To move Matthews Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. He had employees to pay. They all have families and the usual household bills. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. He knew that turning down these requests made Matthews 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'. Alvin allowed himself a good hard chuckle. His father had been against placing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� 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. 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.

 

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

 

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. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. 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. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Now it was time for Alvin 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 colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

But it turned out to be quite easy. 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 didn�t mind signing 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. Many companies offered a non-recourse factoring program that suited him just fine. He was more than happy with the figures he was offered in percentage terms on the freight bills. It sounded like a great scheme to him.

 

It was really refreshing dealing with the factoring people. They were 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. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Alvin because he and his father had created a very strong and loyal list of clientele over the years. So he knew they would understand when the factoring company contacted them for the invoices. His clients wouldn�t think poorly of Matthews 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.

 

Alvin stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. He suddenly realized that, with this new cash flow, he could actually expand Matthews 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.

 

 

 

View Our Freight Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

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�So, this is not a loan?� Vincent Chavez asked as he leaned back in his chair, crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she said.Vincent Chavez owned a small trucking company, and his business had recently fallen on difficult times. Trucking could be a profitable business, and for a little under a decade, it had been for Gabriel. He named his business Fisher Trucking, named after George and Jordan, his two grandfathers. Both of these men had been very hardworking and had set a great example for Gabriel.Six months ago disaster struck Gabriel's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. The financial security of Gabriel's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Vincent had on hand.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

You could go a month or more before bills were completely paid off. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Vincent wasn�t a bad owner, and he hadn�t messed up. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.And that's why he found himself across the desk from this woman. Her name was Betty and she worked for a factoring company. He had accidentally come across her company one night when he was working late, searching the internet to see if there was some solution to his financial dilemma.Betty explained. �it is really not a loan at all: we actually buy your accounts receivable. we are not giving you finance to be repaid later: we are purchasing something from you, and when you can you can buy it back. 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.Vincent nodded. It sounded good to him, almost too good.The woman 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.�Betty smiled, agreeing. �We get that a lot. Listen, I�d hate to see you lose your company. We know how hard you work, and that you've invested everything in your business. We all need help sometimes. That�s what we�re here for.""In any case, thank you for coming to see me.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Betty with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Vincent filled the form out, with Betty available to help him if he needed it. The profile filled Betty and her company in on Gabriel�s company, and would help them determine if he was suitable for factoring. In truth, not all companies were. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. As Vincent completed his form, Betty listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Betty took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Gabriel�s hand. He stood before they shook as well, and then smiled. Vincent walked Betty to the door where they said 'Goodbye', then he went back into his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He shut his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. Talking to Betty though, learning about factoring, it felt like a weight had been lifted from his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.All those long, sleepless nights. The 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 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 successful. Offering home cooking in his own hometown, his business had really prospered.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 Fisher Trucking. So he did it. 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 didn�t think he had it in him, to save this company. But he couldn�t give up. Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He didn�t know how to say quit.And now, because of factoring, he was sure he wouldn�t have to. Gabriel's eyes opened, he sat forward in his chair and turned on his computer. He had things to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

The reason why Truck Corporations Work with Factoring Firms.

 

As the operator of your own firm, you may perhaps be much more than conscious already of the difficulty in making sure that cash flow matters do not become a difficulty down the line. After all, the most disappointing thing that can possibly happen for your business is to find yourself dragged in a long and problematic circumstance that leaves you forever trying to find the resources you necessitate on an continuing manner.

 

For just about any firm in this condition, the concern can come for waiting for work to lapse and actually be repaid into your account. Statements, checks, and the like can take a long time to actually to beprocessed which can leave you with momentary cash flow problems. Thank goodness, there are options out there for businesses to look into-- and one of these is factoring companies.

 

Factoring agencies will, in substitution for your accounts, provide you with the cash money today to make sure that you do not need to stress over the waiting time frame which could make paying out the expenses and getting toolsmore complicated. With this style of system, invoice factoring can end up being remarkably valuable for several firms who have to get out of a cash pitfall which they have gotten themselves in.

 

Simply because, depending on the scale of the job, it can take up to 60 days for some companies to get paid out then it is critical to take care of your own back and not leave yourself funds short to settle the expenses. After all, how many firms have two months earnings just lying there to handle all their expenditures till they earn?

 

This is most notably correct of truck firms. They often take care of great deals of statements which means a significant volume of collection time concerns business owner themselves. Making an effort to get compensated promptly can develop into an extraordinary headache and this is the reason why you work with trucking factoring providers who are delighted to help out truckers mainly.

 

As we all understand, trucking is an surprisingly enormous business with a lot of companies out there employing hundreds of vehicle drivers. Unfortunately, many of these drivers wind up in cash difficulties due to the fact that they are still awaiting work from six weeks back to actually pay them. When this is the condition for a truck organization, turning to factoring firms for reinforcement may be the most effective option left.

 

This indicates that a truck corporation can provide the paychecks of the people, keep all the cars topped off with fuel and continue to escalate, evolve and expand without always waiting for the funds which is taking too prolonged to come in. Trucking Enterprises working without a factoring system applied are leaving themselves at significant hazard, as contenders cash out fast and continue to grow.

 

There's absolutely nothing to be stressed about when it comes to utilizing a Factoring firm-- they are not like a banking company or somebody who is going to leave you with a significant stack of debt to repay. You give them genuine invoices from work you have already finalized , you are simply accelerating the repayment system.

 

In the United states of America, where truck establishments flourish, factoring agencies are not considered taking on loan in any capacity. This private agreement then makes it possible for both groups to profit and experience a good future-- it provides the factoring business a warranted asset of revenue to include in the list and it gives the trucking firm the required cash that they sweated to gain.

 

The trucking business presents their invoices to the factoring agency. The trucking factoring company then take the payment amounts from the trucking company's clients. Factoring has beenaround for hundreds of years and has been employed for decades by numerous varying business-- but none exceeding so than truckers. While you may well lose out on a small part of the money, something like 1-3 % depending on who you collaborate with, it implies that you are getting the money today and can actually start setting the resources to work.

 

Once and for all, an IOU or an invoice is definitely not going to finance expenses, is it? For trucking enterprises when the funds can be great one day and gone the next, it is up to the drivers to work smartly and to make certain they are leaving themselves with a notable volume of time and finance to get through the week till they are handed over once more.

 

So the next period your trucking establishment is enduring some momentary capital troubles and you are spending too much time chasing slowly paying customers, why not begin thinking of employing a factoring businesses as a way to get your cash and give yourself a more at ease future in the eyes of your trucking crew and your bank balance?

 

 

 

 

 

 

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Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. These loans can be a life-saver, but they're not always available to every business. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies do not offer loans, and you do not go into debt when you get money from a Trucking Factoring company. 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

 

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

 

1. There is no debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

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

 

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

 

4.Interest is Paid Up Front. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you do not have to continue to pay interest as they take it right off the top, deducting it from the total amount of accounts receivable. So not only are you relieved of those monthly loan payments, but you also do not have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

In addition, since the Trucking Factoring company evaluates the credit quality of your customers prior to purchasing the accounts receivable you gain valuable information into which customers are likely to pay and which ones are not so likely to pay.A Trucking Factoring company is not the only method of gaining access to finance for the running and growing of your business, however it does offer a financing option well worth considering.

 

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