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Free Book Tells You 12 Secrets of Better Cash Flow - Our Invoice Factoring Company Can Give
Your Trucking Company The Money You Need

smallbusinessfactoring.org

freight invoice factoring

factoring for trucking companies

best trucking factoring

trucking factoring company

Factoring invoices is advantageous for a number of factors. It permits a trucking business to raise money without acquiring new financial obligation. While financial obligation is often needed, the majority of trucking companies would prefer to raise money without obtaining money. Debt is high-risk, and when it cannot be paid back, properties can be repossessed. If the financial obligation is big enough, it may even compel a trucking firms out of business.

 

 

 

 

 

 

 

Will You Help me Get Money? - Select An Accounts Receivable Factoring Company Instead Of A Traditional Bank Financing

Exactly how to Enhance Cash Flow Without Borrowing -Cash Money flow is among the primary reasons businesses fail.

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

Cash flow does not have to be a problem any more. Do not be fooled -- banks are not the only locations you can get funding. Other options are available and you do not have to borrow money. Exactly what is trucking factoring ? One option is called trucking factoring. Trucking Factoring is the procedure of offering invoices to an investor rather than waiting to gather the cash from the customer. Oh, the Irony- Truck factoring has an ironic distinction: It is the financial foundation of numerous of America's most effective businesses. Why is this paradoxical ? Because trucking factoring is not taught in business colleges, is rarely mentioned in business strategies and is fairly unidentified to the majority of most of American business people.

Yet it is a monetary process that releases up billions of dollars every year, allowing thousands of businesses to grow and prosper. Receivable Funding has actually been around for thousands of years. Accounts Receivable Factoring Businesses are financiers who pay money for the right to get the future payments on your invoices. An overdue receivable or invoice has value. It is a financial obligation your customer has to pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business transactions, a big percentage of the retail business uses a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail deals. Utilizing the purest meaning of the word, these large customer finance business are really simply large Invoice Factoring Businesses of consumer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The store gets paid practically instantly, even though you do not make payment up until you are prepared.

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

Receivable Loan Financing offers the means for a manufacturer to renew inventory and make more items to sell: There is no longer a need to await for earlier sales to be paid. Receivable Loan Financing is not simply a cash management device for producers: Almost any type business can take advantage of Factoring. Generally, a business that extends credit will have 10 to 20 percent of its yearly sales bound in accounts receivable at any given time. Think for a minute about how much is tied up in 60 days' worth of invoices: You can not pay the power bill or this week s payroll with a customer s invoice, however you can sell that invoice for the money to satisfy those obligations. Using truck factoring companies is a fast and simple procedure. The factor purchases the invoice at a price cut, typically a few percentage points less than the face value of the invoice.

 

 

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The U.s. Truck Organization
mentions that there are about
200,000 employees with truck
firms and
276,000 personal companies trucking
companies licensed to
operate in the States that transferred,
according to their most current data of millions
items, supplies and
fundamental products .
There are numerous typical
providers either going solo or in
groups on our country
roadways carrying these
important products to our
shops, manufacturingplants and harbors.

Also truck factoring
firms benefit
several of them and offer their
receivables financing facilities
nationwideincluding
including the following states.

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

 

San Antonio has a diversified economy with an approximately $96.8 billion metropolitan GDP, ranking 4th among Texas metropolitan areas and 38th in the United States. San Antonio's economy is focused primarily within military, health care, government civil service, financial services, oil and gas and tourism sectors. Within the past twenty years, San Antonio has become a significant location for American-based call centers and has added a significant manufacturing sector centered around automobiles.Located about 10 miles northwest of Downtown is the Medical Center, which is a conglomerate of various hospitals, clinics, and research (see Southwest Research Institute) and higher educational institutions. The city is also home to one of the largest military concentrations in the United States. The defense industry in San Antonio employs over 89,000 and provides a $5.25 billion impact to the city's economy.Over twenty million tourists visit the city and its attractions every year, contributing substantially to the city's economy, primarily due to The Alamo and Riverwalk. The Convention Center alone hosts more than 300 events each year with over 750,000 convention delegates from around the world. Tourism employs 94,000 citizens and makes an economic impact of over $10.7 billion in the local economy as revealed in the Economic Impact Study conducted every two years by the San Antonio Tourism Council and the research team. Tourism also brings new annual revenues to the City of San Antonio and other governmental entities with the hotel & motel tax, sales taxes and other revenues from hospitality agreements and contracts. This number exceeded over $300 million in 2012date=March 2014.San Antonio is home to six Fortune 500 companies: Inc.. H-E-B, the 14th largest private company in the United States is also headquartered in San Antonio. Other companies headquartered in San Antonio include:In 2013, San Antonio ranked No. 11 on ' list of the Best Places for Business and Careers, boasting a ranking of 9th best market for job growth.

 

 

View Our Freight Factoring Companies YouTube Videos For More Information

 

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

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

 

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

 

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

 

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

 

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

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

 

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 Alvarez 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, Alvarez 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.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

 

. And worse yet, Alvarez 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. Spring changed to summer, summer changed to fall, and the CEO of Alvarez, Gabriel Hansen, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The numbers of clients who owed him back debt were growing.He had gone to his administrators and asked them what the problem had been. Were they doing something wrong or different when it came to reaching out to delinquent accounts? When checking his bookkeeper's records this was definitely not the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. The had just gone!.The situation looked dire to Gabriel Hansen. There were goods to ship, employees to pay, trucks to repair and maintain, and continuous overheads that were very extensive when compared to the funds (or lack of) that were incoming. After work he would confide in his wife, Charlene, and neither were unable to stop the constant worry over the lack of funds.""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would say.Gabriel 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 traveling, bringing goods to all of his clients. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. Why couldn�t he work out how to resolve this financial problem with his business?""I think I know what it could be,"" Gabriel said. ""For way too long I've been relying solely on profits received from invoices. For too long I've been allowing our clients to let their accounts become overdue."" Linda could only grab her husband's hand and look at him lovingly, ""it is a hard economy. It might be awhile until things get settled up.

 

""Gabriel knew very well that Charlene was only trying to help, but his responsibilities weighed heavily on his shoulders and he knew he had better do something soon to resolve this situation.The following day Gabriel walked into his office with a spring in his step, determined to call each and every client who owed money to Alvarez Truck & Haul. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. A waste of time - a waste of money - he had the best intentions, but all the while Gabriel was realising just how much trouble he was in.After a half day of contacting debtors in vain - they dodged his calls or promised to call back at worst or made minimal interest-only payments at best - he was about to throw in the towel when his secretary Tonyaerley knocked at his door.

 

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

 

""Sure thing Tonya, come on in."" Gabriel relaxed back into his chair and looked up at Tonyaerley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Gabriel."" 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?"" Tonyaerley asked.""It sounds vaguely familiar. What is factoring""? he asked.""Well,"" she began, ""It�s actually quite simple really.

 

So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Gabriel interrupted ""Immediately?"".""Immediately, yes"" she added, ""In a nutshell, it is pretty easy. We start by having a professional account manager review our figures and help us set up a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It�s a broad view.""I see,� Gabriel said. �And then what?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. There�s a lot of flexibility depending on the business volume and credit histories. This company tells us what the cost will be to purchase factoring for our accounts receivable. We come to an agreement and the funding starts pouring out.�Gabriel was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Tonya,"" he said.""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, Gabriel,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" he asked.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. Apparently they can figure this all out in two to four days.

 

""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" said Gabriel.Gabriel took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Precisely�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Gabriel took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Alvarez Truck & Haul were professional resources of the company, but they were also long-standing friends. Gabriel wasn't prepared to lose these relationships just because they were having financial issues at the moment. Gabriel 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. He did not want to lose business but he also did not want to lose any more money.""Let me go over this tonight Tonya, and thankyou."" Tonya nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Gabriel stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. He wondered if there might be other problems freight factoring could help Alvarez 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. Gabriel was surprised: it said that his company could get up to fifty percent cash advances on load pickups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""I must tell Alex the good news,"" Gabriel muttered to himself.Alex is Gabriel's son-in-law, and he really admired the ideas behind Alvarez, so much so that only two years before he had started his own transportation service business. Gabriel knew then what struggles Alex would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Alvarez was struggling then the little guys, like Alex, were going to be in even more trouble. Perhaps the antidote to these problems was in freight factoring, and they were about to find out.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Gabriel was beginning to find his way out of the hole his debtors had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They took that time and refocused effort to offering competitive prices in new territories. Gabriel 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.

 

"

 

San Antonio has a diversified economy with an approximately $96.8 billion metropolitan GDP, ranking 4th among Texas metropolitan areas and 38th in the United States. San Antonio's economy is focused primarily within military, health care, government civil service, financial services, oil and gas and tourism sectors. Within the past twenty years, San Antonio has become a significant location for American-based call centers and has added a significant manufacturing sector centered around automobiles.Located about 10 miles northwest of Downtown is the Medical Center, which is a conglomerate of various hospitals, clinics, and research (see Southwest Research Institute) and higher educational institutions. The city is also home to one of the largest military concentrations in the United States. The defense industry in San Antonio employs over 89,000 and provides a $5.25 billion impact to the city's economy.Over twenty million tourists visit the city and its attractions every year, contributing substantially to the city's economy, primarily due to The Alamo and Riverwalk. The Convention Center alone hosts more than 300 events each year with over 750,000 convention delegates from around the world. Tourism employs 94,000 citizens and makes an economic impact of over $10.7 billion in the local economy as revealed in the Economic Impact Study conducted every two years by the San Antonio Tourism Council and the research team. Tourism also brings new annual revenues to the City of San Antonio and other governmental entities with the hotel & motel tax, sales taxes and other revenues from hospitality agreements and contracts. This number exceeded over $300 million in 2012date=March 2014.San Antonio is home to six Fortune 500 companies: Inc.. H-E-B, the 14th largest private company in the United States is also headquartered in San Antonio. Other companies headquartered in San Antonio include:In 2013, San Antonio ranked No. 11 on ' list of the Best Places for Business and Careers, boasting a ranking of 9th best market for job growth.

 

 

More Trucking Factoring Companies Story Articles

Factoring in the Future of a Trucking Business: A Story Warren Gardner let the phone ring on his desk. His morning coffee cooled and his cigarette smoked away in the tray: Warren is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Gardner 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.

 

Warren�s father had started as an owner-operator and had grown Gardner Trucking Company into a fifteen trailer fleet over forty years. Yes, they had survived some very difficult times when it appeared like they might go under, and even Warren's mother had jumped into the cab at times to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. Now the company was solely in Warren�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. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. He knew that turning down these requests made Gardner Trucking look inefficient and weak in what was currently a strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Warren allowed himself a good hard chuckle. He remembered when his father was totally against installing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. His father days were long gone and technology was actually an important improvement for the business such as having Qualcomm to cut down on fruitless time communicating on the phone for bills of lading.

 

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

 

He wondered about factoring - was this the answer for him? There was a lot he didn�t understand about the process. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. 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 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.

 

Warren had to really consider what his next step was going to be. Warren had heard that there were companies that charged for same day money transfers and would only advance a percentage of the money owed to your company while holding the rest in a private account if they didn�t get their bill payment within 60 or so days. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost 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?

 

But it turned out to be quite easy. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He didn�t mind signing an exclusive contract. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. Many companies offered a non-recourse factoring program that suited him just fine. He was more than happy with the figures he was offered in percentage terms on the freight bills. It was good money.

 

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

 

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

 

 

 

View Our Truck Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So, this is not a loan?� Charlie Dunn asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Charlie smiled at him, shaking her head.�Not quite,� she stated.Charlie 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 Isaac. He named his business Cole Trucking, named after Manuel and Carlos, his two grandfathers. Both of these men had been very hardworking and had set a great example for Isaac.Six months ago disaster struck Isaac's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. Charlie 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 Charlie had on hand.A big problem a lot of trucking companies came across was how bills were paid in the industry. You could go a month or more before bills were completely paid off. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Charlie wasn�t a bad owner, and he hadn�t messed up. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.That�s where the woman across the desk came in. Charlie knew she was employed by a Factoring company and that her name was Diana. He had accidentally come across her company one night when he was working late, searching the internet to see if there was some solution to his financial dilemma.She sat there now, and explained. �it is really not a loan at all: we actually buy your accounts receivable. we are not giving you finance to be repaid later: we are purchasing something from you, and when you can you can buy it back. That way we�re protected from a complete loss, but you�re protected from the outrageous fees you would find in a loan from the bank.Charlie nodded. It sounded good to him, almost too good.The woman laughed. �I'm not sure that you believe me,� she chuckled.�Oh no, I do: it just sounds too good to be true. I actually thought I might end up losing my business.�Diana nodded. �We get that a lot. Listen, I�d hate to see you lose your company. You work hard, you�ve put everything you can into it. 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 Diana with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Charlie filled the form out, with Diana available to help him if he needed it. The profile filled Diana and her company in on Isaac�s company, and would help them determine if he was suitable for factoring. In truth, not all companies were. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. As Charlie completed his form, Diana listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Diana took it and slid it into her briefcase. She then stood, reached across the desk and shook Isaac�s hand. He stood before they shook as well, and then smiled. They said their goodbyes and Charlie walked her to the door, and then returned to his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He shut his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. But now, after speaking to Diana and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.The long nights, where he couldn�t sleep. The sudden panic attacks, not matter where he was. Already he could feel all the stress start to drain away. He 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 there, he was on the right path, and he was working to make things right.Charlie couldn�t help but think back to when he had first started the business. At twenty-two and straight out of school he had opened a restaurant. 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 six months off, and during that time he decided to create Cole Trucking. So he did it. Once again he built a company from the ground up. He had been successful.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was nearing fifty. He didn�t think he had it in him, to save this company. But giving up wasn't part of his personality either.

 

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 it seemed as though he would not have to - all because of Factoring. Isaac'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

Precisely why Truck Agencies Utilize Factoring Firms.

 

As the operator of your own establishment, you may likely be much more than knowledgeable already of the challenge in making sure that cash flow issues do not become a dilemma down the line. After all, the worst thing that can in all probability happen for your company is to find yourself involved in a long and hard situation that leaves you forever trying to find the money you need to have on an recurring basis.

 

For any kind of establishment in this circumstance, the concern can come for waiting for work to lapse and actually be settled into your balance. Statements, checks, and the like could take some time to actually to be taken care of which can certainly leave you with momentary available resources dilemmas. Thank goodness, there are solutions out there for firms to investigate-- and one of these is factoring firms.

 

Factoring companies will, in exchange for your accounts, offer you with the resources now so that you do not need to worry about the waiting time frame which could make paying the bills and obtaining toolsmore complicated. With this form of arrangement, invoice factoring can come to be extremely useful for lots of establishments who ought to get out of a money ploy which they have found themselves in.

 

Due to the fact that, depending on the volume of the job, it can take up to 60 days for many establishments to get paid then it is vital to cover your own back and not leave yourself resources short to pay off the expenses. After all, how many firms possess two months revenue just occupying there to handle all their bills till they get paid?

 

This is primarily true of truck agencies. They usually take care of numbers of accounts which means a substantial amount of collection period involves business owner themselves. Attempting to get paid off in time can end up being an unbelievable headache and this is the key reasons why you make use of truck factoring firms who are happy to help out truckers specifically.

 

As all of us recognize, trucking is an unbelievably huge market with plenty of organizations out there hiring hundreds of operators. Regretfully, quite a few of these drivers land up in income problems due to the fact that they are still waiting for work from six weeks in the past to actually pay them. When this is the situation for a trucking business, resorting to factoring firms for help could be the best option left.

 

This signifies that a truck firm can provide the paychecks of the people, keep all the cars topped off with fuel and continue to scale, grow and expand without constantly waiting for the income which is taking too lengthy to come in. Trucking Businesses running without a factoring program established are leaving themselves at notable danger, as competitors cash out quickly and proceed to grow.

 

There's absolutely almost nothing to be worried about when it comes to utilizing a Factoring firm-- they commonly are not like a financial institution or a person who is going to leave you with a significant mass of financial obligation to repay. You give them authentic invoices from job you have already completed , you are merely speeding up the repayment system.

 

In the Usa, where truck firms develop, factoring companies are not considered taking on loan in any capacity. This confidential arrangement then enables both groups to profit and delight in a good future-- it gives the factoring business a secured asset of cash flow to put into the list and it offers the trucking business the needed cash that they sweated to gain.

 

The trucking enterprise bestows their invoices to the factoring establishment. The trucking factoring business then obtain the payments from the trucking company's customers. Factoring has been in existence for centuries and has been adopted for long times by several various industries-- but none exceeding so than truckers. While you may well lose out on a small part of the money, something like 1-3 % depending on who you partner with, it signifies that you are obtaining the funds today and can actually begin putting the funds to function.

 

Anyway, an IOU or an invoice is definitely not going to cover spendings, is it? For trucking agencies when the resources can be excellent one day and gone the next, it is up to the vehicle drivers to work prudently and to make sure that they are leaving themselves with a notable measure of time and finance to get through the week up until they are paid for again.

 

So the next time your trucking establishment is enduring some short-term capital problems and you are spending way too much time chasing inactive paying clients, why not begin looking at using a factoring companies as a way to get your cash and give yourself a more worry-free future in the eyes of your trucking crew and your bank dividend?

 

 

 

 

 

 

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Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. These loans can be a life-saver, but they're not always available to every business. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

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 money you can receive is based on the amount of money you have earned and the accounts receivable you are willing 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

 

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

 

1. 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. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

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

 

3. Receive Your Money Faster. Using a Trucking Factoring company means that you'll get the finance quicker. 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. 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 from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

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

 

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