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Check the Kind of Bank Account You Want - Our Freight Factoring Companies Can Give
Your Freight Company The Cash You Need

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Medium-Size freight brokerage businesses, especially those who have not been around for really long, will frequently find it hard to secure a loan. Banks are often reluctant to provide cash to companies that do not have a lot of income and properties. They likewise want evidence of the practicality of a business and hence require that most operations, specifically little ones, been around for a certain amount of time prior to they want to turn over any money. Because of this, a small company typically has a couple of money producing alternatives when requires occur. One choice offered, however often neglected, is invoice factoring. This is an excellent method for a medium-size business to obtain cash.

 

 

 

 

 

 

 

Receivables Mysteriously Disappear from the Books - Select The Best Factoring Company Instead Of A Regular Bank Financing

How to Enhance Money Flow Without Loaning -Cash Money flow is one of the primary reasons companies fail.

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

Money flow does not have to be an issue any ever more. Do not be deceived -- banks are not the only locations you can get financing. Other options are offered and you do not have to borrow money. Exactly what is trucking factoring ? One solution is called truck factoring. Trucking Factoring is the process of selling accounts receivable to a financier instead of waiting to collect the money from the customer. Oh, the Irony- Trucking factoring has an ironic difference: It is the monetary foundation of numerous of America's most successful companies. Why is this ironic ? Since invoice factoring is not instructed in business colleges, is seldom discussed in business plans and is relatively unknown to bulk of most of American company individuals.

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

For this service, the credit card company charges Sears a fee (typical common normal fees range from 2 to 4 percent of the sale). The Benefits Staffing Factoring can provide numerous advantages to cash-hungry business. Instead of waiting 30, 60, 90 days or longer for payment on an item that has actually currently been delivered, a company can factor (sell) its receivables for cash at a little price cut off the dollar value of the invoice. Payroll, advertising efforts, and working capital are simply a few of the company needs that can be met with instant  money.

Invoice Factoring offers the means for a producer to renew stock and make more products to sell: There is no longer a need to await for earlier sales to be paid. Receivable Loan Financing is not just a money management tool for producers: Almost any type business can benefit from Staffing Factoring. Generally, a company that extends credit will have 10 to 20 percent of its yearly sales tied up in accounts receivable at any given time. Think for a moment about how much is bound in 60 days' worth of invoices: You can not pay the power bill or today s payroll with a customer s invoice, but you can offer that invoice for the cash to meet those obligations. Using trucking factoring companies is a quick and simple process. The factor purchases the invoice at a price cut, usually a few percentage points less than the face value of the invoice.

 

 

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The American Truck Association
mentions that there are about
205,000 employees with transportation
companies and
276,000 private companies trucking
companies accredited to
run in America that transported,
according to their newest data of millions
products, materials and
standard products .
There are a number of usual
carriers either going solo or in
teams on our nation
roadways carrying these
crucial products to our
shops, factories and shipping ports.

Plus freight invoice factoring
firms benefit
several of them and offer their
receivable loan services
nationwideincluding
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

 

Glendale /'gl?nde?l/ is a city in Los Angeles County, California, United States. The 2013 estimates show that the population was 196,021 [6] making it the third largest city in Los Angeles County and the 22nd largest city in the state of California.Glendale lies at the eastern end of the San Fernando Valley, bisected by the Verdugo Mountains, and is a suburb in the Greater Los Angeles Area. The city is bordered to the northwest by the Sun Valley and Tujunga neighborhoods of Los Angeles; to the northeast by La Ca�ada Flintridge and the unincorporated area of La Crescenta; to the west by Burbank and Griffith Park; to the east by Eagle Rock and Pasadena; to the south by the Atwater Village neighborhood of Los Angeles; and to the southeast by Glassell Park neighborhood of Los Angeles. The Golden State, Ventura, Glendale, and Foothill freeways run through the city.Glendale has one of the largest communities of Armenian descent in the United States. The city's Forest Lawn Memorial Park Cemetery contains the remains of many noted celebrities and local residents.In 2013, Glendale was named LA's Neighborhood of the Year by the readers and editors of Curbed.com.[8]According to the city's 2013 Comprehensive Annual Financial Report,[16] the top employers in the city are as follows (with number of employees given):

 

 

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

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

 

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.

If you're like most drivers, you're looking for a better company in trucking that might be offering the best jobs in terms of pay, freight, and hometime ' not to mention benefits or a sign on bonus. We've got all of our clients listed based on the states where they're hiring, so you can quickly find the best job in your home state. You'll see the very best nationwide trucking companies that have positions available.

 

Life of a Truck driver, like many other professionals can be very challenging, rewarding, and frustrating at the same time. �The com� is an information site for many of the Truckers needs. It is designed to encompass the needs of the Trucker, both on the Road and at Home.

List of Trucking Companies for Owner/Operators and Company Drivers

 

If you're like most drivers, you're looking for a better company in trucking that might be offering the best jobs in terms of pay, freight, and hometime ' not to mention benefits or a sign on bonus. We've got all of our clients listed based on the states where they're hiring, so you can quickly find the best job in your home state. You'll see the very best nationwide trucking companies that have positions available.

 

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

 

 

"

Johnston Truck & Haul have been operating their business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the boom times from 2002 to 2007 Johnston 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. The money was flowing, and times were great.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed down. Worse still, it was noticed by Johnston 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 Johnston, Cecil Thompson, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The numbers of clients who owed him back debt were growing.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? 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. They could not afford to pay him their debt, but they could afford a lesser service, maybe. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. The had just gone!.This current state-of-affairs was causing Cecil Thompson to have some very restless nights. There were goods to ship, employees to pay, trucks to repair and maintain, and continuous overheads that were very extensive when compared to the funds (or lack of) that were incoming. At night he would speak to his wife Kristin and shake his head in frustration.

 

""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""What could you do differently?"" she would ask.Cecil 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. What on earth was happening to create the death of his business?""I know what it is,"" Cecil said. ""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."" Kristin 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'.""Kristin was trying so hard to support her husband in these worrying times, while Cecil was weighed down with the worry of how he was going to handle this situation he found himself in.The following day Cecil walked into his office with a spring in his step, determined to call each and every client who owed money to Johnston 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, Cecil knew that he was in trouble.

 

Poor Cecil 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 Cecil?"" she asked standing in the doorway.

 

""Sure thing Patricia, come on in."" Cecil relaxed back into his chair and looked up at Patriciaerley.""Well Cecil, 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 of factoring?"" she asked.""It does sound vaguely familiar. What is factoring""? he asked.She began, ""Well, it is really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Cecil interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""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 provides a very broad view.""I see,� Cecil said. �And then what?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. There�s a lot of flexibility depending on the business volume and credit histories. This company tells us what the cost will be to purchase factoring for our accounts receivable. Once we arrive at a mutual agreement, the funding begins.�Leaning forward, Cecil studied the documents very closely.""I do not know, Patricia - it just sounds too good to be true"", Cecil said quietly.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Cecil: 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, Cecil,"" she drew a circle around a paragraph on the document before him.""How flexible?"" asked Cecil.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. 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. 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,"" Cecil said.He took a deep breath and looked at his secretary with something she recognized as hope.""Precisely�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Cecil took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Johnston 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, Cecil was very concerned about losing these relationships. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. He did not want to lose business but he also did not want to lose any more money.""Well, let me think about this tonight Patricia, thank you."" Patricia nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Cecil keep the shirt on his back, and possibly hers too.Cecil sat behind his desk and looked over the details Patricia had not mentioned in their meeting. What other issues could freight factoring help Johnston with? With his pencil gliding down the sheet he noticed that the factoring company could help fray the cost of fuel with fuel discount cards and fuel advances. In fact, Johnston could receive up to fifty-percent cash advances upon load pick-ups. Cecil was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""Well, I'll have to tell Bradley about this,"" muttered Cecil to himself.His son-in-law Bradley had liked the idea of Johnston 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. Cecil knew then what struggles Bradley would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Johnston was struggling then the little guys, like Bradley, were going to be in even more trouble.

 

But, an antidote may have been found in freight factoring and Cecil was soon 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, Cecil 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 took that time and refocused effort to offering competitive prices in new territories. Cecil recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

Glendale /'gl?nde?l/ is a city in Los Angeles County, California, United States. The 2013 estimates show that the population was 196,021 [6] making it the third largest city in Los Angeles County and the 22nd largest city in the state of California.Glendale lies at the eastern end of the San Fernando Valley, bisected by the Verdugo Mountains, and is a suburb in the Greater Los Angeles Area. The city is bordered to the northwest by the Sun Valley and Tujunga neighborhoods of Los Angeles; to the northeast by La Ca�ada Flintridge and the unincorporated area of La Crescenta; to the west by Burbank and Griffith Park; to the east by Eagle Rock and Pasadena; to the south by the Atwater Village neighborhood of Los Angeles; and to the southeast by Glassell Park neighborhood of Los Angeles. The Golden State, Ventura, Glendale, and Foothill freeways run through the city.Glendale has one of the largest communities of Armenian descent in the United States. The city's Forest Lawn Memorial Park Cemetery contains the remains of many noted celebrities and local residents.In 2013, Glendale was named LA's Neighborhood of the Year by the readers and editors of Curbed.com.[8]According to the city's 2013 Comprehensive Annual Financial Report,[16] the top employers in the city are as follows (with number of employees given):

 

 

More Trucking Factoring Companies Story Articles

"

Factoring in the Future of a Trucking Business: A Story The phone was ringing on his desk, and Gene Lawson just sat there letting it ring. He let his morning coffee cool and left his cigarette to ash itself in the tray, because he is trying to make the biggest decision ever for his trucking company. Lawson Trucking Company was at a turning point of growth and Gene had to decide if signing with a factoring company was the right way forward.

 

Gene�s father had started as an owner-operator and had grown Lawson 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 Gene�s mother strapped herself into a cab to make hauls. His father had worked long enough to see the price of hires drop dramatically during the recession and to see the explosion of fuel prices afterwards. Now the company was solely in Gene�s hands and he wanted to live to see it in better shape for his sons.

 

To move Lawson 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 Lawson Trucking look inefficient and weak in what was currently a strong market.

 

His father would have told him to wait and to take his time adding on new technology. Gene 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?� 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.

 

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

 

He wondered about factoring - was this the answer for him? If he was being honest, he did not really understand how it all worked. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. 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. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Now it was time for Gene to do his homework. Gene had heard that there were companies that charged for same day money transfers and would only advance a percentage of the money owed to your company while holding the rest in a private account if they didn�t get their bill payment within 60 or so days. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His 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?

 

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. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. He was more than happy with the figures he was offered in percentage terms on the freight bills. It was good money.

 

For Gene it was quite a relief to be dealing with the factoring company. They were more personable than those loan managers at the bank. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies were not interested in his credit nor the financial problems his father had experienced in the past. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Gene because he and his father had created a very strong and loyal list of clientele over the years. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients wouldn�t think poorly of Lawson 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, Gene stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. He suddenly realized that, with this new cash flow, he could actually expand Lawson Trucking Company and who knows, move into Canada, which had always been his dream. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

"

 

 

 

 

Medibanker.Com

 

Governmentfactoring.Org

 

View Our Freight Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So, this is not a loan?� Alvin Smith asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Alvin smiled at him, shaking her head.�No, not exactly,� she stated.Alvin Smith owned a small trucking company, and his business had recently fallen on difficult times. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Leon. He named his business Davidson Trucking, named after Andy and Edward, his two grandfathers. Both of these men had been very hardworking and had set a great example for Leon.Six months ago disaster struck Leon'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. Alvin depended on his full fleet, and missing two trucks was devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Alvin had on hand.A big problem a lot of trucking companies came across was how bills were paid in the industry. You could go a month or more before bills were completely paid off. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Alvin was an excellent business man, and he certainly hadn't done anything wrong. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.That�s where the woman across the desk came in. Her name was Wendy and she worked for a factoring company. Alvin 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.Wendy 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.Alvin agreed. It sounded perfect - perhaps too good?.The woman laughed. �I'm not sure that you believe me,� she chuckled.�Oh no, I do: it just sounds too good to be true. I thought I was going to lose my company.�Wendy smiled, agreeing. �We get that a lot. There's no way we want to see you lose your business. You work hard, you�ve put everything you can into it. Sometimes you need help. That�s what we�re here for.""Well, I'm very grateful that you came to see me today.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� Wendy said with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Alvin filled the form out, with Wendy available to help him if he needed it. The completed profile gave Wendy and her company all the information they needed on Leon's business, and with this information they would determine if this business would in fact be suitable for Factoring. Unfortunately, not all companies are. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. As Alvin completed his form, Wendy listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Wendy took it and slid it into her briefcase. She then stood, reached across the desk and shook Leon�s hand. He also stood up, and they smiled at each other. Alvin walked Wendy to the door where they said 'Goodbye', then he went back into his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He shut his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. But now, after speaking to Wendy and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.The long nights, where he couldn�t sleep. The sudden panic attacks, not matter where he was. Already he could feel all the stress start to drain 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 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 Davidson Trucking. And that's exactly what he did. For the second time in his short life he created a company from the ground up. The business had been an instant success.And then the trucks went down, and his success looked to be in flux. He was about to turn fifty. He was concerned that he just did not have the energy left to try and save the business. But giving up wasn't part of his personality either.

 

The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He did not want to quit - both for himself and for his staff members.And now, because of factoring, he was sure he wouldn�t have to. Leon's eyes opened, he sat forward in his chair and turned on his computer. He had lots to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

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More Trucking Factoring Company Story Articles

Why Truck Companies Use Factoring Companies.

 

As the operator of your own establishment, you may likely be more than perceptive already of the hardship in making sure that capital matters do not become a difficulty down the line. After all, the worst thing that can quite possibly transpire for your company is to find yourself embroiled in a long and perplexing predicament that leaves you forever trying to find the funds you necessitate on an on-going basis.

 

For just about any company in this situation, the complication can come for waiting for work to clear up and actually be paid out into your account. Statements, checks, and the like can take some time to actually to be taken care of which can leave you with temporary capital problems. Thank goodness, there are approaches out there for businesses to consider-- and just one of these is factoring companies.

 

Factoring firms will, in substitution for your bill of sales, give you with the resources today to ensure that you do not have to fret about the lingering duration which could make paying off the expenses and obtaining toolsmore challenging. With this type of setup, invoice factoring can come to be extremely valuable for various companies who need to get out of a cash trap which they have discovered themselves in.

 

Simply because, relying on the size of the work, it can take up to 60 days for several firms to get paid then it is very important to take care of your own back and not leave yourself cash short to pay the expenses. After all, how many enterprises possess two months revenue just lying there to pay for all their bills until they earn?

 

This is particularly true of trucking enterprises. They often take care of lots of invoices which means a huge volume of collection period concerns business owner themselves. Seeking to get paid in time can turn into an amazing inconvenience and this is precisely why you utilize trucking factoring firms who are glad to help out truckers exclusively.

 

As most of us recognize, trucking is an remarkably huge industry with a lot of agencies out there working with hundreds of operators. However, numerous of these drivers wind up in income problems considering that they are still waiting on work from six weeks ago to actually compensate them. When this is the condition for a truck company, consulting factoring providers for help could be the most effective choice left.

 

This implies that a truck business can pay the wages of the crew, keep all the cars filled with gas and continue to escalate, develop and expand without consistently waiting for the resources which is taking too lengthy to come in. Trucking Businesses working without a factoring program implemented are leaving themselves at notable danger, as competitors cash out quickly and proceed to broaden.

 

There's genuinely nothing to be stressed about when it comes to making use of a Factoring agency-- they commonly are not like a banking company or a person who is going to leave you with a substantial stack of financial obligation to pay back. You give them genuine invoices from job you have already wrapped up , you are just facilitating the repayment system.

 

In the United States, where trucking companies survive, factoring providers are not considered accepting loan of in any capacity. This confidential contract then makes it possible for both parties to benefit and enjoy a good future-- it provides the factoring business a warranted asset of revenue to add to the list and it provides the trucking company the required finances that they sweated to acquire.

 

The trucking establishment provides their accounts to the factoring establishment. The trucking factoring firm then collect the payment amounts from the trucking company's clients. Factoring has been all around for hundreds of years and has been adopted for several years by several diverse markets-- but none exceeding so than truckers. While you may lose out on a small part of the money, something like 1-3 % depending upon who you work with, it signifies that you are receiving the cash today and can actually start putting the money to function.

 

Anyway, an IOU or an invoice is not actually going to cover costs, is it? For trucking establishments when the finances can be excellent one day and gone the next, it is up to the vehicle drivers to work smartly and to make sure they are leaving themselves with a notable quantity of time and money to get through the week up until they are paid for again.

 

So the next period your trucking company is enduring some temporary capital challenges and you are investing too much time chasing slow paying clients, why not start off considering using a factoring businesses as a way to get your finances and give yourself a more worry-free future in the eyes of your trucking workers and your bank balance?

 

 

 

 

 

 

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Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. While these loans are handy they are not available to every business. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. 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 give loans, and the money you get from the Trucking Factoring company does not put you in debt. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing 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. 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. 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. 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. 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 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. With a Trucking Factoring company you can actually get the money you need faster. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.Interest is Paid Up Front. With a bank loan interest continues to build, and this has to be paid the whole time you have a business loan; however with a Trucking Factoring company there is no interest - they take it right off the top by deducting it from the total amount of receivable accounts. So not only are you relieved of those monthly loan payments, but you also do not have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

As you can see, 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. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

In addition, since the Trucking Factoring company evaluates the credit quality of your customers prior to purchasing the accounts receivable you gain valuable information into which customers are likely to pay and which ones are not so likely to pay.While a Trucking Factoring company is not the only way for your business to obtain the money it needs to keep growing, it does offer a type of financing well worth considering.

 

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