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The Most Expensive Mistake of Your Life - Our Freight Invoice Factoring Company Can Provide
Your Truck Company The Money You Want

factorinvoices.org

factoring for trucking companies

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trucking factoring services

Factoring invoices is beneficial for several factors. It enables a truck firm to raise money without obtaining brand-new debt. While debt is often needed, the majority of freight broker firm would like to raise money without obtaining cash. Debt is dangerous, and when it can not be paid back, assets can be repossessed. If the financial obligation is huge enough, it could even require a freight brokerage out of business.

 

 

 

 

 

 

 

I gave away my receivables - and made more money too - Select A Factoring Company Instead Of A Traditional Bank Funding

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

At one time or another, every business, even successful ones, have actually experienced bad cash flow.

Money flow does not have to be an issue any more. Do not be deceived -- banks are not the only locations you can get financing. Other solutions are offered and you do not have to borrow money. Exactly what is truck factoring ? One solution is called truck factoring. Truck Factoring is the process of offering accounts receivable to a financier rather than waiting to gather the money from the customer. Oh, the Irony- Trucking factoring has a paradoxical distinction: It is the financial backbone of numerous of America's most successful companies. Why is this ironic ? Because receivable loan funding is not taught in business colleges, is rarely mentioned in company plans and is relatively unknown to bulk of most of American business people.

Yet it is a financial procedure that releases up billions of dollars every year, enabling countless businesses to grow and prosper. Accounts Receivable Factoring has been around for thousands of years. FACTORING Companies are investors who pay money for the right to get the future payments on your invoices. An unpaid receivable or invoice has value. It is a debt your client has actually agreed pay in the near future. Factoring Principals--Although factoring offers solely with business-to-business transactions, a large percentage of the retail business uses a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail transactions. Using the purest meaning of the word, these big consumer finance business are really simply large Factoring Companies of consumer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The shop makes money practically instantly, even though you do not make payment up until you are prepared.

For this service, the charge card company charges Sears a charge (typical common normal fees range from two to four percent of the sale). The Advantages Staffing Factoring can offer many advantages to cash-hungry companies. Rather than wait 30, 60, 90 days or longer for payment on a product that has already been delivered, a business can factor (sell) its receivables for money at a small discount off the dollar value of the invoice. Payroll, marketing efforts, and working capital are simply a few of the business needs that can be met with instant  money.

Receivable Financing offers the ways for a manufacturer to renew stock and make even more products to offer: There is no longer a need to await for earlier sales to be paid. FACTORING is not just a money management device for producers: Practically any type company can take advantage of Truck Factoring. Typically, a business 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 exactly how much is tied up in 60 days' worth of invoices: You can not pay the power bill or this week s payroll with a customer s invoice, but you can sell that invoice for the cash to satisfy those responsibilities. Using truck factoring companies is a quick and easy procedure. The factor buys the invoice at a discount, typically a few percentage points less than the stated value of the invoice.

 

 

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irvine-factoring-companies

 

The U.s. Trucking Organization
states that there around
205,000 truck drivers with freight trucking
firms and
250,000 personal service providers trucking
firms accredited to
operate in the U.S. that transported,
according to their latest data of millions
products, supplies and
fundamental products .
There are several common
carriers either going solo or in
teams on our nation
roads carrying these
crucial items to our
shops, manufacturing facilities and harbors.

Plus freight bill factoring
companies benefit
many of them and offer their
factoring facilities
nationallycomprising
including the following states.

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

 

"

Irvine is an affluent suburban city in Orange County, California, United States. It is a planned city, mainly developed by the Irvine Company since the 1960s. Formally incorporated on December 28, 1971, the 66 square miles (170 km2) city has a population of 212,375 as of the 2010 census; the California Department of Finance estimates its 2013 population to be 223,729. It has annexed in the past an undeveloped area to the north, and has also annexed the former El Toro Marine Corps Air Station, most of which is planned to be converted into the Orange County Great Park. The city's mission statement is ""to create and maintain a community where people can live, work, and play in an environment that is safe, vibrant, and aesthetically pleasing"".Because Irvine is home to very good public schools, a large number of jobs requiring a skilled workforce, and residential housing, Irvine was chosen in 2008 by CNNMoney.com as the fourth best place to live in the United States. In 2012, it was ranked in sixth place. In September 2011, listed Irvine as the 5th best city in the US. In June 2010, the Federal Bureau of Investigation reported that Irvine had the lowest violent crime rate among cities in the United States with populations of more than 100,000, and in August 2008 the Census Bureau ranked Irvine as having the seventh highest median income among cities in the United States with populations of more than 65,000. In 2014, Irvine was named the best-run city in the U.S. by 24/7 Wall Street. . Irvine is also home to a number of corporations, particularly in the technology and semiconductor sectors.Irvine's tourism information is coordinated through the Destination Irvine program run by the Chamber of Commerce. The program provides information on Irvine as a place to vacation and as a destination for meetings, events and other business initiatives. Irvine has been rated one of the top cities for start-up businesses and its strong, fast-growing economy helped place Orange County as one of the top ten fastest growing job markets.Irvine is also used as a location for film projects. The city government grants free or low-cost filming permits and offers location information to prospective productions.

 

"

 

Watch Our Truck Factoring Companies YouTube Videos For More Information

 

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

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.

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.

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.

 

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

 

 

"

Since the mid 1980s Simpson Truck & Haul have been successfully running their freight business. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the heady times from 2002 to 2007, Simpson was a top rated accounts receivable mastermind of the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. The money was flowing, and times were great.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed down. And worse yet, Simpson had noticed during the early part of 2008 that though the bulk of their clients were always on time with payments, the few late-bloomers there were, had seemingly started to spread this illness. And as spring turmed to summer and summer into the early days of fall, Kyle Washington, CEO of Simpson felt a chill go down his spine whenever he would look at the weekly A/R reports. The number of clients who were late in their payments was continuing to grow.He had already been to the administrators to ask what the actual problem was. Were they doing things different, or wrong, when it came to collecting overdue accounts? By his bookkeepers records, this wasn't the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Simpson money had jumped ship and decided to leave him holding the bag.

 

. They could not afford to pay him their debt, but they could afford a lesser service, maybe. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Simpson hadn't gone elsewhere. The had just gone!.The situation looked dire to Kyle Washington. 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. At night he would speak to his wife Ellen and shake his head in frustration.

 

""I have a bad feeling, Lin,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would say.Kyle would stare off for a moment and then close eyes. He could see the fleet of trucks he had purchased over the years. He could see them on the road, delivering good to all his loyal customers. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. Why couldn�t he work out how to resolve this financial problem with his business?""I think I know what it could be,"" said Kyle. ""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."" All Ellen could do was hold his hand and look at him tenderly. 'We know it is a difficult economy at the moment - perhaps it will take a while for people to get on top of their bills'.""Ellen was trying so hard to support her husband in these worrying times, while Kyle was weighed down with the worry of how he was going to handle this situation he found himself in.The next day Kyle strolled into his office and was determined to sit down and make every phone call to every client who had owed Simpson 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. A waste of time - a waste of money - he had the best intentions, but all the while Kyle was realising just how much trouble he was in.Poor Kyle 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 Kyle?"" she asked standing in the doorway.

 

""Sure thing Nina, come on in."" Kyle leaned back in his chair and looked expectantly at Ninaerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Kyle."" 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?"" Ninaerley asked.""It sounds vaguely familiar. What is factoring""? he asked.""Well,"" she began, ""It�s actually quite simple really.

 

Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Kyle interrupted ""Immediately?"".""Immediately, yes"" she added, ""In a nutshell, it is pretty easy. We can have an expert account manager review our numbers and help us complete a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It provides a very broad view.""Kyle replied cautiously ""I see - and what happens then?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

This company tells us what the cost will be to purchase factoring for our accounts receivable. We come to an agreement and the funding starts pouring out.�Kyle was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""I do not know, Nina - it just sounds too good to be true"", Kyle said quietly.""Now, now, I know, I thought the same thing. But think about it, Kyle: they've guaranteed that experts will do all the paperwork, and that will free us up to do what we should be doing - focusing on our customers in good standing, and that kind of stuff. And they're flexible Kyle,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" asked Kyle.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. Apparently they can figure this all out in two to four days.

 

""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. 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,"" Kyle said.Kyle took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Kyle took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Simpson 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, Kyle was very concerned about losing these relationships. Kyle knew only too well that the whole economy was floundering, and that it was not going to change overnight. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both 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 Nina, and thankyou."" Nina stood up and left Kyle's office, with the nice feeling of knowing that she may just have solved a very serious problem.Kyle sat behind his desk and looked over the details Nina had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Simpson 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, Simpson 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.""Well, I'll have to tell Shawn about this,"" Kyle muttered to himself.His son-in-law Shawn had liked the idea of Simpson 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. At that time Kyle knew the struggles Shawn would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Simpson was hurting, a little guy like Shawn was about to catch his death. But, an antidote may have been found in freight factoring and Kyle was soon to find out.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, Kyle 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 used that time to refocus their efforts in being competitive in new territories. Kyle looked back on the dismal months of life before freight factoring and almost shuddered at the thought. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

"

Irvine is an affluent suburban city in Orange County, California, United States. It is a planned city, mainly developed by the Irvine Company since the 1960s. Formally incorporated on December 28, 1971, the 66 square miles (170 km2) city has a population of 212,375 as of the 2010 census; the California Department of Finance estimates its 2013 population to be 223,729. It has annexed in the past an undeveloped area to the north, and has also annexed the former El Toro Marine Corps Air Station, most of which is planned to be converted into the Orange County Great Park. The city's mission statement is ""to create and maintain a community where people can live, work, and play in an environment that is safe, vibrant, and aesthetically pleasing"".Because Irvine is home to very good public schools, a large number of jobs requiring a skilled workforce, and residential housing, Irvine was chosen in 2008 by CNNMoney.com as the fourth best place to live in the United States. In 2012, it was ranked in sixth place. In September 2011, listed Irvine as the 5th best city in the US. In June 2010, the Federal Bureau of Investigation reported that Irvine had the lowest violent crime rate among cities in the United States with populations of more than 100,000, and in August 2008 the Census Bureau ranked Irvine as having the seventh highest median income among cities in the United States with populations of more than 65,000. In 2014, Irvine was named the best-run city in the U.S. by 24/7 Wall Street. . Irvine is also home to a number of corporations, particularly in the technology and semiconductor sectors.Irvine's tourism information is coordinated through the Destination Irvine program run by the Chamber of Commerce. The program provides information on Irvine as a place to vacation and as a destination for meetings, events and other business initiatives. Irvine has been rated one of the top cities for start-up businesses and its strong, fast-growing economy helped place Orange County as one of the top ten fastest growing job markets.Irvine is also used as a location for film projects. The city government grants free or low-cost filming permits and offers location information to prospective productions.

 

"

 

More Trucking Factoring Companies Story Articles

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

 

Derek�s father had started as an owner-operator and had grown Spencer 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 Derek�s mother strapped herself into a cab to make hauls. His father had worked long enough to see the price of hires drop dramatically during the recession and to see the explosion of fuel prices afterwards. But now things were different: the company was in Derek's hands and he needed to ensure that this business would be left in great 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. His employees needed to be paid. 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, Spencer 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. Derek allowed himself a good hard chuckle. His father had been against placing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. 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.

 

Derek believed a successful man is always thinking of his next step. How would he take Spencer 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? There was a lot he didn�t understand about the process. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Now it was time for Derek to do his homework. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

However, it all turned out to be very simple. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He was quite happy to sign an exclusive contract. 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. Many companies offered a non-recourse factoring program that suited him just fine. He was more than happy with the figures he was offered in percentage terms on the freight bills. It sounded like a great scheme to him.

 

For Derek it was quite a relief to be dealing with the factoring company. They were more personable than those loan managers at the bank. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies didn�t worry over his credit and the debt troubles his father had had in the past of the company. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Derek because he and his father had created a very strong and loyal list of clientele over the years. So he knew they would understand when the factoring company contacted them for the invoices. His clients wouldn�t think poorly of Spencer 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, Derek 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 Spencer 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.

 

 

 

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Trucking Factoring  Articles

"

�So, this is not a loan?� Karl Weaver asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Karl smiled at him, shaking her head.�Not quite,� she said.Karl was the owner of a small trucking company which had fallen on some hard times recently. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Ricky. His company was called Howard Trucking, named after both of his grandfathers, Don and Alfredo. Both of these men had been very hardworking and had set a great example for Ricky.Disaster had struck half a year ago, when two trucks in Ricky�s fifteen truck fleet went down. One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. Karl depended on his full fleet, and missing two trucks was devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

You could go a month or more before bills were completely paid off. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Karl wasn�t a bad owner, and he hadn�t messed up. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.That�s where the woman across the desk came in. Karl knew she was employed by a Factoring company and that her name was Heather. Karl 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.Heather 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.Karl agreed. It sounded good to him, almost too good.Heather laughed. �You look like you don�t believe me,� she chuckled.�Oh no, I do: it just sounds too good to be true. I actually thought I might end up losing my business.�Heather 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. We all need help sometimes. That's why we do what we do.""Well, I'm very grateful that you came to see me today.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� Heather said with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.

 

Karl filled the form out, with Heather available to help him if he needed it. The completed profile gave Heather and her company all the information they needed on Ricky'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 businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. As Karl completed his form, Heather listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Heather took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Ricky's hand. He also stood up, and they smiled at each other. They said their goodbyes and Karl walked her to the door, and then returned to his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He leaned back and closed his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. But now, after speaking to Heather and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.All those long, sleepless nights. The terrifying panic attacks that occurred regardless of where he was. Already he could feel all the stress start to drain away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.His mind wandered back to the very beginning, when he first started his business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been successful. Home cooking in his hometown, and he had done very well.But it wasn't what he really wanted to do. His passion didn�t lie with 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 Howard Trucking. And that's exactly what he did. Once again he built a company from the ground up. The business had been an instant success.And then the trucks went down, and his success looked to be in flux. He was 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 didn�t know how to say quit.And now it seemed as though he would not have to - all because of Factoring. Ricky'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

The key reasons why Truck Companies Employ Factoring Firms.

 

As the owner of your own company, you may perhaps be much more than conscious already of the hardship in making certain that capital concerns do not become a predicament down the line. Anyway, the most disappointing thing that can possibly occur for your enterprise is to find yourself swept up in a long and difficult condition that leaves you forever trying to find the resources you need on an recurring basis.

 

For pretty much any enterprise in this circumstance, the complication can come for waiting for work to lapse and actually be compensated into your statement. Statements, checks, and the like can take some time to actually to be taken care of which may leave you with momentary capital problems. Gratefully, there are solutions out there for companies to look into-- and among these is factoring providers.

 

Factoring companies will, in exchange for your statements, grant you with the cash right away in order that you do not need to stress over the waiting duration that could make paying out the bills and acquiring materialsmore hard. With this type of system, invoice factoring can come to be exceptionally useful for several establishments who ought to get out of a cash lure which they have discovered themselves in.

 

Due to the fact that, relying on the volume of the work, it can take up to 60 days for some establishments to get paid then it is important to cover up your own back and definitely not leave yourself resources short to settle the bills. After all, how many firms have two months profits just lying there to deal with all their overheads until they make money?

 

This is primarily correct of trucking firms. They have the tendency to deal with good deals of accounts which means a serious amount of collection time concerns company owner themselves. Trying to get compensated promptly can turn into an amazing inconvenience and this is why you make use of truck factoring agencies who are thrilled to help out truckers particularly.

 

As most of us know, trucking is an unbelievably enormous field with many firms out there employing hundreds of vehicle drivers. Sadly, several of these drivers end up in finances difficulties given that they are still waiting on work from six weeks ago to actually pay them. When this is the case for a trucking organization, consulting factoring companies for support could be the most ideal alternative left.

 

This means that a trucking business can pay out the salaries of the workers, keep all the vehicles loaded with gas and continue to go up, thrive and expand without consistently waiting for the income which is taking too lengthy to come in. Trucking Firms functioning without a factoring system applied are leaving themselves at substantial risk, as competitions cash out promptly and proceed to develop.

 

There's absolutely almost nothing to be stressed about when it comes to working with a Factoring establishment-- they typically are not like a financial institution or somebody who is going to leave you with a significant pile of personal debt to pay back. You give them authentic invoices from output you have already finished , you are simply facilitating the repayment process.

 

In the United states of America, where trucking enterprises flourish, factoring companies are not considered getting a loan in any capacity. This confidential settlement then permits both parties to benefit and take joy in a good future-- it provides the factoring firm a guaranteed resource of money to add to the list and it supplies the trucking business the required funds that they worked hard to obtain.

 

The trucking company presents their invoices to the factoring establishment. The trucking factoring agency then receive the installment payments from the trucking company's customers. Factoring has beenaround for centuries and has been utilized for decades by plenty of varying fields-- but none more so than truckers. While you could lose out on a small part of the money, something like 1-3 % depending upon who you work with, it indicates that you are obtaining the finances today and can actually start off putting the money to operate.

 

Anyway, an IOU or an invoice is definitely not going to cover spendings, is it? For trucking companies when the income can be good 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 notable measure of time and money to get through the week till they are paid again.

 

So the next period your trucking business is enduring some temporary cash flow troubles and you are investing way too much time chasing sluggish paying clients, why not begin looking at using a factoring businesses as a manner to get your finances and give yourself a more worry-free future in the eyes of your trucking personnel and your bank balance?

 

 

 

 

 

 

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Traditional Bank Loans

 

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

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies do not offer loans, and you do not go into debt when you get money from a Trucking Factoring company. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but 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 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. You will not Incur Debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets to pay off a loan. 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 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. You'll receive the money faster. Using a Trucking Factoring company means that you'll get the finance quicker. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.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. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

Another bonus is that, because the Trucking Factoring company has evaluated the quality of your customers' credit before buying the accounts receivable, you learn valuable information regarding your customers, like which ones are likely to pay, and which ones are less likely to pay.A Trucking Factoring company is not the only method of gaining access to finance for the running and growing of your business, however it does offer a financing option well worth considering.

 

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Factoring Companies by City

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