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Cash Flow Satisfaction- or Else! - Our Receivable Factoring Company Can Provide
Your Trucking Company The Cash Your Company Needs

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factoring trucking receivables

freight broker factoring

freight factoring rates

factoring companies for trucking industry

Medium-Size freight companies, specifically those who have actually not been around for extremely long, will often find it difficult to secure a loan. Banks are commonly hesitant to provide cash to companies that do not have a great deal of income and assets. They also want evidence of the practicality of a company and therefore require that many operations, especially little ones, been around for a specific amount of time prior to they are willing to turn over any cash. Because of this, a small company typically has few cash generating choices when requires arise. One choice readily available, however commonly overlooked, is invoice factoring. This is an exceptional way for a small company to get money.

 

 

 

 

 

 

 

Thousands Now Play Who Never Thought They Could - Choose A Factoring Company Instead Of A Traditional Bank Funding

How to Enhance Money Flow Without Loaning -Cash Money flow is among the primary reasons businesses fail.

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

Cash flow does not have to be a problem any ever more. Do not be fooled -- banks are not the only places you can get funding. Other options are offered and you do not have to borrow. Exactly what is truck factoring ? One solution is called truck factoring. Trucking Factoring is the process of selling invoices to an investor rather than waiting to collect the cash from the client. Oh, the Irony- Truck factoring has a paradoxical distinction: It is the monetary foundation of many of America's most effective companies. Why is this paradoxical ? Since trucking factoring is not taught in business colleges, is rarely mentioned in business strategies and is fairly unidentified to bulk of most of American company individuals.

Yet it is a financial procedure that releases up billions of dollars every year, allowing thousands of companies to grow and prosper. Truck Factoring has been around for countless years. Invoice Factoring Businesses are financiers 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 client has actually agreed pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business transactions, a big portion of the retail company utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail deals. Using the purest meaning of the word, these large customer finance business are really just large Trucking Factoring Companies of customer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The shop makes money practically immediately, although you do not pay up until you are ready.

For this service, the credit card company charges Sears a fee (typical common normal fees range from two to four percent of the sale). The Advantages Receivable Funding can offer many advantages to cash-hungry business. Instead of waiting 30, 60, 90 days or longer for payment on an item that has actually currently been provided, a business can factor (sell) its receivables for money at a little discount off the amount of the invoice. Payroll, advertising efforts, and working capital are just a few of the business requirements that can be met with instant  cash.

Trucking Factoring provides the means for a producer to replenish inventory and make even more items to offer: There is no longer a requirement to wait for earlier sales to be paid. FACTORING is not just a money management tool for manufacturers: Almost any type business can take advantage of FACTORING. Typically, a company that extends credit will have 10 to 20 percent of its annual sales bound in accounts receivable at any given time. Think for a moment about exactly how much is bound in 60 days' worth of invoices: You can not pay the power bill or today 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 fast and easy process. The factoring company buys the invoice at a price cut, usually a few percentage points less than the face value of the invoice.

 

 

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The U.s. Truck Association
states that there around
195,000 work with freight trucking
businesses and
276,000 private service providers trucking
firms certified to
run in the States that transported,
according to their latest searchings for billions of
items, materials and
standard products .
There are a number of typical
providers either going solo or in
groups on our nation
highways transferring these
crucial items to our
stores, factories and ports.

Also freight invoice factoring
firms benefit
numerous of them and offer their
receivables financing services
nationallycounting
including the following states.

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

 

Laredo is the county seat of Webb County, Texas, United States, located on the north bank of the Rio Grande in South Texas, across from Nuevo Laredo, Tamaulipas, Mexico. According to the 2010 census, the city population was 236,191 making it the tenth most populous city in the state of Texas and 3rd most populated on the United States-Mexican border, after San Diego and El Paso. Its metropolitan area is the 178th-largest United States metropolitan area and covers all of Webb county, with a population of 250,304. Laredo is part of the Laredo-Nuevo Laredo Metropolitan Area with an estimate population of 636,516.Laredo's economy is based on international trade with Mexico. Most major transportation companies have a facility in Laredo. The city's location on the southern end of I-35 close to the manufacturers in northern Mexico promotes its vital role in trade between the two nations. Laredo International Airport is within the Laredo city limits, while the Quetzalcoatl International Airport is nearby in Nuevo Laredo on the Mexican side.Laredo has the distinction of flying seven flags (the Flag of the Republic of the Rio Grande in addition to the of Texas). Founded in 1755, Laredo grew from a villa to the capital of the brief Republic of the Rio Grande to the largest inland port on the United States-Mexican Border. Today, it has four international bridges and one railway bridge.Laredo has a professional soccer team, the Heat; baseball team, the Laredo Lemurs; and a women's full contact football team, the Laredo Roses. Texas A&M International University and Laredo Community College are located in Laredo.The biggest festival, Washington's Birthday Celebration is held all month long during February, attracting hundreds of thousands of tourists. The Jalape�o Festival, Border Beer Fest, Stockmen's Ball, Princess Pocahontas Pageant, Mr. South Texas Luncheon, an air show, and two major parades are all held in conjunction with the Washington's birthday events.

 

 

View Our Factoring YouTube Videos For More Information

 

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

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.

 

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.

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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

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

 

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.

 

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.

 

 

"

Since the mid 1980s Wood Truck & Haul have been successfully running their freight business. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the heady times from 2002 to 2007, Wood was a top rated accounts receivable mastermind of the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. Times were great for everyone, and the cash was flowing.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed to a crawl

 

. Worse still, it was noticed by Wood in early 2008 that even though most of their loyal customers were on time with their payments, there were a few late bloomers who were starting to spread the disease. And as spring turmed to summer and summer into the early days of fall, Randy Oliver, CEO of Wood felt a chill go down his spine whenever he would look at the weekly A/R 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. They had just gone home.The situation looked dire to Randy Oliver. He had employees to pay, goods to ship, trucks to maintain and overhead that was almost unbearable when compared against the lack of funds that were coming in. After work he would confide in his wife, Lori, and neither were unable to stop the constant worry over the lack of funds.""I have a bad feeling, Lin,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would ask.Randy would stare off into the distance, and then slowly close his eyes. He could see the fleet of trucks he had purchased over the years. He could see them on the road, delivering good to all his loyal customers. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What on earth was happening to create the death of his business?""I know what it is,"" Randy said. ""For way too long I've been relying solely on profits received from invoices. I've let too many of our customers go too long without paying on their bills."" Lori 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'.""Lori was trying so hard to support her husband in these worrying times, while Randy was weighed down with the worry of how he was going to handle this situation he found himself in.The next day Randy strolled into his office and was determined to sit down and make every phone call to every client who had owed Wood money. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. Wasting money, wasting time - even with the best of intentions, Randy knew that he was in trouble.

 

Poor Randy 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 Randy?"" she queried, standing in the doorway.

 

""Of course Patsy, please come in."" Randy relaxed back into his chair and looked up at Patsyerley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Randy."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard the word factoring?"" Patsyerley asked.""It sounds vaguely familiar. What is it?"" he said.""Well,"" she began, ""It�s actually quite simple really.

 

Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Immediately?"" Randy interrupted.""Yes, immediately,"" she continued, ""it is actually very simple. We can have an expert account manager review our numbers and help us complete a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It�s a broad view.""I see,� Randy 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. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

The company will advise us the cost to purchase factoring for our company's accounts receivable. We come to an agreement and the funding starts pouring out.�Randy was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""I do not know, Patsy - it just sounds too good to be true"", Randy said quietly.""Now, now, I know, I thought the same thing. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. They appear to be very flexible, Randy,"" she underlined a paragraph on the paper before him.""How flexible?"" asked Randy.""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. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" Randy said.He took a deep breath and looked at his secretary with something she recognized as hope.""Precisely�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Randy thought about this and agreed with Patsyerley. The clients who owed them money were long standing friends and professional resources of Wood. Just because they were experiencing difficulties paying their own bills now, Randy was very concerned about losing these relationships. Randy 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 Patsy, and thankyou."" Patsy stood up and left Randy's office, with the nice feeling of knowing that she may just have solved a very serious problem.Randy sat behind his desk and looked over the details Patsy had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Wood Truck & Haul 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, Wood could receive up to fifty-percent cash advances upon load pick-ups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""I must tell Christopher the good news,"" Randy muttered to himself.Christopher is Randy's son-in-law, and he really admired the ideas behind Wood, so much so that only two years before he had started his own transportation service business. At that time Randy knew the struggles Christopher would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Wood was hurting, a little guy like Christopher was about to catch his death. But, maybe the answer for both of them was in freight factoring, and Randy was going to find out very soon.Some months later, having successfully gone through the entire process of the application, having experts study his credit history and statements and review his accounts receivable, Randy found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They took that time and refocused effort to offering competitive prices in new territories. Randy recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. He probably wouldn't be in business today had he not learned just in time about freight factoring.

 

"

 

Laredo is the county seat of Webb County, Texas, United States, located on the north bank of the Rio Grande in South Texas, across from Nuevo Laredo, Tamaulipas, Mexico. According to the 2010 census, the city population was 236,191 making it the tenth most populous city in the state of Texas and 3rd most populated on the United States-Mexican border, after San Diego and El Paso. Its metropolitan area is the 178th-largest United States metropolitan area and covers all of Webb county, with a population of 250,304. Laredo is part of the Laredo-Nuevo Laredo Metropolitan Area with an estimate population of 636,516.Laredo's economy is based on international trade with Mexico. Most major transportation companies have a facility in Laredo. The city's location on the southern end of I-35 close to the manufacturers in northern Mexico promotes its vital role in trade between the two nations. Laredo International Airport is within the Laredo city limits, while the Quetzalcoatl International Airport is nearby in Nuevo Laredo on the Mexican side.Laredo has the distinction of flying seven flags (the Flag of the Republic of the Rio Grande in addition to the of Texas). Founded in 1755, Laredo grew from a villa to the capital of the brief Republic of the Rio Grande to the largest inland port on the United States-Mexican Border. Today, it has four international bridges and one railway bridge.Laredo has a professional soccer team, the Heat; baseball team, the Laredo Lemurs; and a women's full contact football team, the Laredo Roses. Texas A&M International University and Laredo Community College are located in Laredo.The biggest festival, Washington's Birthday Celebration is held all month long during February, attracting hundreds of thousands of tourists. The Jalape�o Festival, Border Beer Fest, Stockmen's Ball, Princess Pocahontas Pageant, Mr. South Texas Luncheon, an air show, and two major parades are all held in conjunction with the Washington's birthday events.

 

 

More Trucking Factoring Companies Story Articles

"

The Future of a Trucking Company, and Factoring Lawrence Richardson let the phone ring on his desk. He let his morning coffee cool and left his cigarette to ash itself in the tray, because he is trying to make the biggest decision ever for his trucking company. Richardson Trucking Company was at a turning point of growth and Lawrence had to decide if signing with a factoring company was the right way forward.

 

Lawrence�s father had started as an owner-operator and had grown Richardson Trucking Company into a fifteen trailer fleet over forty years. There had been some hard times when it seemed everything was going to go under and even Lawrence�s mother strapped herself into a cab to make hauls. His father had worked long enough to see the price of hires drop dramatically during the recession and to see the explosion of fuel prices afterwards. Now the company was solely in Lawrence�s hands and he wanted to live to see it in better shape for his sons.

 

There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. He had employees to pay. They all have families and the usual household bills. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. Every time he had to turn down a request, Richardson Trucking looked weak in a very strong market.

 

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

 

Lawrence believed a successful man is always thinking of his next step. What would be the next step for Richardson Trucking? And how would he be able to afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

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

 

Now it was time for Lawrence to do his homework. Lawrence had heard that there were companies that charged for same day money transfers and would only advance a percentage of the money owed to your company while holding the rest in a private account if they didn�t get their bill payment within 60 or so days. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

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

 

It was really refreshing dealing with the factoring people. They were extremely helpful and more personable than the bank staff. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar for a handout. The factoring companies didn�t worry over his credit and the debt troubles his father had had in the past of the company. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Lawrence because he and his father had created a very strong and loyal list of clientele over the years. So he knew they would understand when the factoring company contacted them for the invoices. His clients would not have any problems, nor would they think poorly of Richardson Trucking, because the factoring companies handle themselves in such a polite and professional manner, similar to the way his father had managed the business in the past.

 

Feeling happier now, Lawrence stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. He suddenly realized that, with this new cash flow, he could actually expand Richardson Trucking Company and who knows, move into Canada, which had always been his dream. His heart felt full knowing his sons wouldn�t have to worry about money because of the right decisions he had made for their trucking business.

 

"

 

 

View Our Factoring Video For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So, this is not a loan?� asked Willie Robertson, reclining back into his chair and crossing his legs. The woman sitting across the desk from Willie smiled at him, shaking her head.�No, not exactly,� she stated.Willie was the owner of a small trucking company which had fallen on some hard times recently. Trucking could be a profitable business, and for a little under a decade, it had been for Albert. His company was called Scott Trucking, named after both of his grandfathers, Harold and William. Both of these men had been very hardworking and had set a great example for Albert.Six months ago disaster struck Albert's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. Willie 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 Willie had on hand.A big problem a lot of trucking companies came across was how bills were paid in the industry. Waiting a month or longer for bills to be paid was quite normal. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Willie was an excellent business man, and he certainly hadn't done anything wrong. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.And that's why he found himself across the desk from this woman. Her name was Jamie and she worked for a factoring company. Willie 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.Jamie 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. This is a win-win situation: we are protected from a total loss, and you're protected from the ridiculous fees and charges you'd have to pay if you borrowed from a bank.Willie nodded. It sounded good to him, almost too good.The woman laughed. �I'm not sure that you believe me,� she said.�Oh no, I do: it just sounds too good to be true. I thought I was going to lose my company.�Jamie nodded. �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.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� said Jamie with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Willie completed the form, with Jamie offering advice as needed.

 

The completed profile gave Jamie and her company all the information they needed on Albert's business, and with this information they would determine if this business would in fact be suitable for Factoring. In truth, not all companies were. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. As Willie completed his form, Jamie listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Jamie took it and slid it into her briefcase. She then stood, reached across the desk and shook Albert�s hand. He also stood up, and they smiled at each other. Willie walked Jamie 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. Talking to Jamie though, learning about factoring, it felt like a weight had been lifted from 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. He could feel it all fading away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was there, he was on the right path, and he was working to make things right.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 it wasn't what he really wanted to do. He wasn't passionate about the food industry. He thought long and hard, and then he decided to sell the restaurant. He took six months off, and during that time he decided to create Scott Trucking. So he did it. For the second time in his short life he created a company from the ground up. The business had been an instant success.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was about to turn fifty. He didn�t think he had it in him, to save this company. But 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 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. Willie opened his eyes, sat forward, turned his computer on. He had lots to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

Reasons why Trucking Agencies Use Factoring Companies.

 

As the owner of your own firm, you may well be much more than conscious already of the challenge in making certain that cash flow issues do not become a problem down the line. After all, the most disappointing thing that can in all probability take place for your enterprise is to find yourself swept up in a long and challenging circumstance that leaves you forever searching for the cash you need on an on-going manner.

 

For any business in this condition, the dilemma can come for waiting for work to clear up and actually be paid out into your balance. Bill of sales, checks, and the like could take a long time to actually to beprocessed which can leave you with short-term cash flow problems. Gratefully, there are alternatives out there for companies to examine-- and one of these is factoring companies.

 

Factoring agencies will, in substitution for your statements, provide you with the cash money today so you do not have to stress over the delaying time frame which could make paying out the expenses and getting materialsmore hard. With this form of arrangement, invoice factoring can become incredibly useful for various firms who have to avoid a money lure which they have found themselves in.

 

Given that, depending on the volume of the task, it can take up to 60 days for several enterprises to get paid then it is very important to cover your own back and definitely not leave yourself cash short to pay the expenses. After all, how many companies have two months income just occupying there to deal with all their costs till they make money?

 

This is most notably true of trucking establishments. They generally manage numbers of statements which means a substantial quantity of collection period concerns business owner themselves. Seeking to get paid out in time can come to be an extraordinary inconvenience and this is the reason why you employ trucking factoring organizations who are pleased to help out truckers mainly.

 

As most of us realize, trucking is an unbelievably large business with a lot of agencies out there hiring hundreds of vehicle drivers. However, plenty of these drivers end up in cash predicaments given that they are still expecting work from six weeks ago to actually compensate them. When this is the circumstance for a truck business, consulting factoring firms for reinforcement may be the best alternative left.

 

This implies that a trucking business can pay the salaries of the work force, keep all the vehicles topped off with fuel and continue to go up, evolve and expand without consistently waiting for the funds which is taking too lengthy to come in. Trucking Companies functioning without a factoring system put in place are leaving themselves at considerable risk, as rivals cash out rapidly and proceed to expand.

 

There's honestly nothing at all to be stressed about when it comes to using a Factoring business-- they typically are not like a banking company or somebody who is going to leave you with a huge heap of debt to repay. You give them legitimate invoices from work you have already finalized , you are only just hastening the payment system.

 

In the Usa, where trucking enterprises grow, factoring enterprises are not considered taking on loan in any capacity. This confidential arrangement then allows both parties to make money and indulge in a comfortable future-- it provides the factoring company a warranted resource of income to include in the list and it offers the trucking company the needed money that they sweated to gain.

 

The trucking company presents their statements to the factoring firm. The trucking factoring company then take the installment payments from the trucking company's clients. Factoring has beenaround for hundreds of years and has been used for long times by lots of various sectors-- but none exceeding so than truckers. While you could miss out on a small part of the money, something like 1-3 % depending on who you deal with, it indicates that you are receiving the money today and can actually start off setting the cash to function.

 

After all, an IOU or an invoice is certainly not going to finance overheads, is it? For trucking agencies when the money can be fantastic one day and gone the next, it is up to the vehicle drivers to work prudently and to ensure they are leaving themselves with a significant amount of time and money to get through the week until they are compensated once again.

 

So the next moment your trucking business is having some temporary cash flow dilemmas and you are investing a lot of time chasing inactive paying clients, why not start taking into consideration employing a factoring businesses as a manner to get your cash and give yourself a more convenient future in the eyes of your trucking staff and your bank difference?

 

 

 

 

 

 

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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. Once the loan is paid off, you can then apply for another loan if the need arises.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to sell. Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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

 

1. 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. 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. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. No Collateral Required. Another great benefit of using the services of a Trucking Factoring company instead of a bank loan is that there is no collateral required for the Trucking Factoring company, because the Trucking Factoring company is buying your accounts receivables. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This 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. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.

 

4.You receive interest up-front. With a bank loan interest continues to build, and this has to be paid the whole time you have a business loan; however with a Trucking Factoring company there is no interest - they take it right off the top by deducting it from the total amount of receivable accounts. So 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 efficient at debt collecting, and this frees up your valuable time to devote to running your 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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Factoring Companies by City

New York City

Los Angeles


Chicago


Houston


Philadelphia


Phoenix


San Antonio


San Diego


Dallas


San Jose

Austin


Jacksonville


Indianapolis


San Francisco


Columbus


Fort Worth


Charlotte


Detroit


El Paso


Memphis

 

 

Boston


Seattle


Denver


Washington DC


Nashville-Davidson


Baltimore


Louisville/Jefferson


Portland


Oklahoma City


Milwaukee


Las Vegas


Albuquerque


Tucson


Fresno


Sacramento


Long Beach


Kansas City


Mesa


Virginia Beach


Atlanta

 

Colorado Springs


Raleigh


Omaha


Miami


Oakland


Tulsa


Minneapolis


Cleveland


Wichita


Arlington

 

New Orleans

Bakersfield

Tampa

Honolulu

Anaheim

Aurora

Santa Ana

St. Louis

Riverside

Corpus Christi

Pittsburgh

Lexington Fayette

Anchorage

Stockton

Cincinnati

St. Paul

Toledo


Newark

Greensboro

Plano

Henderson

Lincoln

Buffalo

Fort Wayne

Jersey

Chula Vista

Orlando

St. Petersburg

Norfolk

Chandler

Laredo

Madison

Durham

Lubbock

Winston Salem

Garland

Glendale

Hialeah

Reno

Baton Rouge

Irvine

Chesapeake

Irving

Scottsdale

North Las Vegas

Fremont

Gilbert town

San Bernardino

Boise

Birmingham

Rochester

Richmond

Spokane

Des Moines

 

 

 

 

 

Philadelphia

 

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