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Six Types of Companies - Which Group Are You In? - Our Freight Invoice Factoring Companies Can Give
Your Truck Company The Cash Your Company Needs

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Medium-Size freight brokerage companies, specifically those who have not been around for really long, will typically discover it challenging to secure a loan. Banks are typically hesitant to provide cash to businesses that do not have a great deal of income and properties. They likewise desire proof of the practicality of a company and thus need that many operations, especially small ones, been around for a certain quantity of time before they are willing to turn over any money. Due to the fact that of this, a medium-size company frequently has few money creating options when requires emerge. One alternative readily available, however frequently ignored, is invoice factoring. This is an exceptional method for a small company to get cash.

 

 

 

 

 

 

 

Imagine Holding Your banker Spellbound for 30 Minutes - Choose An Accounts Receivable Factoring Company Instead Of A Regular Bank Financing

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

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

Money flow does not have to be a problem any more. Do not be fooled -- banks are not the only places you can get financing. Other solutions are available and you do not have to borrow. Exactly what is trucking factoring ? One solution is called truck factoring. Truck Factoring is the process of selling invoices to an investor instead of waiting to gather the money from the customer. Oh, the Irony- Truck factoring has a paradoxical difference: It is the monetary foundation of many of America's most effective companies. Why is this paradoxical ? Since factoring is not instructed in business colleges, is rarely discussed in company plans and is relatively unidentified to bulk of most of American company people.

Yet it is a financial procedure that frees billions of dollars every year, enabling thousands of businesses to grow and prosper. Factoring has actually been around for thousands of years. FACTORING Companies 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 actually agreed pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business transactions, a large percentage of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail deals. Utilizing the purest definition of the word, these big consumer finance companies are truly just large Receivable Funding Companies of consumer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The shop gets paid practically immediately, although you do not make payment until you are prepared.

For this service, the charge card business charges Sears a fee (typical common normal charges vary from 2 to four percent of the sale). The Benefits Commercial Factoring can offer numerous benefits to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on an item that has already been provided, a company can factor (sell) its receivables for money at a small price cut off the dollar value of the invoice. Payroll, marketing efforts, and working capital are simply a few of the business requirements that can be satisfied with instant  money.

Staffing Factoring provides the means for a manufacturer to replenish inventory and make more products to offer: There is no longer a need to wait for earlier sales to be paid. Receivable Loan Financing is not just a money management device for producers: Practically any kind business can benefit from Trucking Factoring. Generally, a company 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 client s invoice, however you can sell that invoice for the money to meet those obligations. Using truck factoring companies is a quick and simple procedure. The factoring company purchases the invoice at a price cut, usually a few percentage points less than the stated value of the invoice.

 

 

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The American Transportation Association
mentions that there are about
195,000 work with truck
firms and
300,000 personal companies trucking
firms licensed to
run in the States that transferred,
according to their newest listings of millions of
items, supplies and
standard products .
There are numerous common
carriers either going solo or in
teams on our country
highways transporting these
crucial products to our
shops, factories and shipping ports.

And freight invoice factoring
companies aid
numerous of them and offer their
receivable loan 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

 

Charlotte has become a major U.S. financial center and is now the second largest banking center in the United States (after New York).[] The nation's second largest financial institution by assets, , calls the city home. The city was also the former corporate home of Wachovia until its 2008 acquisition by in San Francisco CA; with the two banks fully merged at the end of 2011, which included transitioning all of the branches in the Carolinas to o branches by October 2011. Since then, Charlotte became the regional headquarters for East Coast Operations of , which is headquartered in San Francisco, California. Charlotte also serves as the headquarters for capital markets activities including sales and trading, equity research, and investment banking. headquarters, along with other regional banking and financial services companies, are located primarily in the Uptown central business district.Charlotte has eight Fortune 500 companies in its metropolitan area, listed in order of their rank: was headquartered in Charlotte.Carowinds Amusement Park, owned by Cedar Fair Entertainment Company is located in Charlotte.Charlotte is the major center in the U.S. motorsports industry, housing multiple offices of industry's race teams, employees and drivers are based nearby. The large presence of the racing technology industry along with the newly built , is iuencing other top professional drag racers to move their shops to Charlotte as well. The Metrolina Speedway is expected to bring more local racing along with a skate park, shoppes, restaurants, and an cale hotel.Located in the western part of Mecklenburg County is the U.S. National Whitewater Center, which consists of man-made rapids of various degrees and is open to the public year round. One Center behind the in Uptown CharlotteThe Charlotte Region has a major base of energy-oriented organizations and has become known as �Charlotte USA � The New Energy Capital.� In the region there are more than 240 companies directly tied to energy sector collectively employing more than 26,400. Since 2007 more than 4,000 energy sector jobs have been announced. Major energy players in Charlotte include The University of North Carolina at Charlotte has a reputation in energy education and research and its Energy Production and Infrastructure Center (EPIC) trains energy engineers and conducts research.The area is an increasingly growing trucking and freight transportation hub for the East Coast. The Charlotte Center city has seen remarkable growth over the last decade. Numerous residential units continue to be built uptown, including over 20 skyscrapers under construction, recently completed, or in the planning stage. Many new restaurants, bars and clubs now operate in the Uptown area. Several projects are transforming the Midtown Charlotte/Elizabeth area.In 2013, named Charlotte among its list of Best Places for Business and Careers. Charlotte has also been listed as the #20 largest city in the US, and the #60 fastest growing city in the US between 2000-2008.

 

 

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

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

 

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

 

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.

 

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

 

 

"

Stanley Truck and Haul has been in business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the boom times from 2002 to 2007 Stanley Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. Times were great for everyone, and the cash was flowing.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 to a crawl

 

. Worse still, it was noticed by Stanley in early 2008 that even though most of their loyal customers were on time with their payments, there were a few late bloomers who were starting to spread the disease. Spring changed to summer, summer changed to fall, and the CEO of Stanley, Karl Myers, 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. 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 Stanley money had jumped ship and decided to leave him holding the bag.

 

. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Stanley hadn't gone elsewhere. They had just gone home.This current state-of-affairs was causing Karl Myers to have some very restless nights. Karl was very concerned, because there were constant overheads, goods to ship, employees to pay, and trucks which needed to be maintained, but there just wasn't the money coming back into the business. In the evenings he would discuss his concerns with his wife, Allison, and still find no relief from the worry and frustration.

 

""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""What could you do differently?"" she would say.Karl 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 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,"" said Karl. ""I've relied too long on the profits I receive from invoices alone. 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.

 

""Karl knew very well that Allison 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 Karl walked into his office with a spring in his step, determined to call each and every client who owed money to Stanley 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. 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 Karl 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 Joyceerley knocked at his door.

 

""Karl, can I have a word?"" she queried, standing in the doorway.

 

""Sure thing Joyce, come on in."" Karl leaned back in his chair and looked expectantly at Joyceerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Karl."" 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 the word factoring?"" Joyceerley 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.""Immediately?"" Karl interrupted.""Immediately, yes"" she added, ""it is actually very simple. We start by having a professional account manager review our figures and help us set up a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.""I see,� Karl said. �And then what?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

This company tells us what the cost will be to purchase factoring for our accounts receivable. Once we arrive at a mutual agreement, the funding begins.�Karl was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Joyce,"" he said.""Yes, I know; that's exactly what I thought at the beginning. 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. And they're flexible Karl,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" asked Karl.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. Apparently they can figure this all out in two to four days.

 

""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. 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 Karl.Karl 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.""Karl took a moment to think about this solution, and agreed with his secretary. The clients who owed them money were long standing friends and professional resources of Stanley. Karl wasn't prepared to lose these relationships just because they were having financial issues at the moment. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. That unknown amount of time could create a disaster situation for both of them if he wasn't careful in how these debtors were handled. He did not want to lose business but he also did not want to lose any more money.""Well, let me think about this tonight Joyce, thank you."" Joyce nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Karl stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. What other issues could freight factoring help Stanley 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, Stanley could receive up to fifty-percent cash advances upon load pick-ups. Karl was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""I must tell Adam the good news,"" muttered Karl to himself.Karl's son-in-law, Adam, loved the idea behind Stanley and highly respected his father-in-law for having such great business sense, that two years ago he got his capital together and started his own transportation company. At that time Karl knew the struggles Adam would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Stanley was hurting, a little guy like Adam was about to catch his death. Perhaps the antidote to these problems was in freight factoring, and they were about 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, Karl found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They took that time and refocused effort to offering competitive prices in new territories. Karl recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. He probably wouldn't be in business today had he not learned just in time about freight factoring.

 

"

 

Charlotte has become a major U.S. financial center and is now the second largest banking center in the United States (after New York).[] The nation's second largest financial institution by assets, , calls the city home. The city was also the former corporate home of Wachovia until its 2008 acquisition by in San Francisco CA; with the two banks fully merged at the end of 2011, which included transitioning all of the branches in the Carolinas to o branches by October 2011. Since then, Charlotte became the regional headquarters for East Coast Operations of , which is headquartered in San Francisco, California. Charlotte also serves as the headquarters for capital markets activities including sales and trading, equity research, and investment banking. headquarters, along with other regional banking and financial services companies, are located primarily in the Uptown central business district.Charlotte has eight Fortune 500 companies in its metropolitan area, listed in order of their rank: was headquartered in Charlotte.Carowinds Amusement Park, owned by Cedar Fair Entertainment Company is located in Charlotte.Charlotte is the major center in the U.S. motorsports industry, housing multiple offices of industry's race teams, employees and drivers are based nearby. The large presence of the racing technology industry along with the newly built , is iuencing other top professional drag racers to move their shops to Charlotte as well. The Metrolina Speedway is expected to bring more local racing along with a skate park, shoppes, restaurants, and an cale hotel.Located in the western part of Mecklenburg County is the U.S. National Whitewater Center, which consists of man-made rapids of various degrees and is open to the public year round. One Center behind the in Uptown CharlotteThe Charlotte Region has a major base of energy-oriented organizations and has become known as �Charlotte USA � The New Energy Capital.� In the region there are more than 240 companies directly tied to energy sector collectively employing more than 26,400. Since 2007 more than 4,000 energy sector jobs have been announced. Major energy players in Charlotte include The University of North Carolina at Charlotte has a reputation in energy education and research and its Energy Production and Infrastructure Center (EPIC) trains energy engineers and conducts research.The area is an increasingly growing trucking and freight transportation hub for the East Coast. The Charlotte Center city has seen remarkable growth over the last decade. Numerous residential units continue to be built uptown, including over 20 skyscrapers under construction, recently completed, or in the planning stage. Many new restaurants, bars and clubs now operate in the Uptown area. Several projects are transforming the Midtown Charlotte/Elizabeth area.In 2013, named Charlotte among its list of Best Places for Business and Careers. Charlotte has also been listed as the #20 largest city in the US, and the #60 fastest growing city in the US between 2000-2008.

 

 

More Trucking Factoring Companies Story Articles

"

The Future of a Trucking Company, and Factoring Alan Butler let the phone ring on his desk. He let his morning coffee cool and left his cigarette to ash itself in the tray, because he is trying to make the biggest decision ever for his trucking company. Butler 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.

 

More than forty years ago Alan's father had started this business working as an owner-operator and eventually growing Butler Trucking Company into a fifteen trailer fleet. There had been some hard times when it seemed everything was going to go under and even Alan�s mother strapped herself into a cab to make hauls. His father had worked long enough to see the price of hires drop dramatically during the recession and to see the explosion of fuel prices afterwards. Now the company was solely in Alan�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. 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, Butler 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. Alan allowed himself a good hard chuckle. He remembered when his father was totally against installing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). 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.

 

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

 

He wondered about factoring - was this the answer for him? If he was being honest, he did not really understand how it all worked. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Now it was time for Alan to do his homework. Alan 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. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He didn�t mind signing 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. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. He was more than happy with the figures he was offered in percentage terms on the freight bills. It sounded like a great scheme to him.

 

For Alan 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. Factoring was based on the credit of his customers and on their reliability which worked well for Alan because he and his father had built up good strong relationships over decades with their list of clients. 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 Butler 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, Alan stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. With the capabilities of this new cash flow, Alan could actually expand Butler Trucking Company further across the country and perhaps even go international into Canada. His heart felt full knowing his sons wouldn�t have to worry about money because of the right decisions he had made for their trucking business.

 

"

 

 

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Trucking Factoring  Articles

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�So It is not a loan?� asked Troy Miller, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�No, not exactly,� she stated.Troy 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 Mark. His company was called Rodney Trucking, named after both of his grandfathers, Richard and Javier. They had both been hardworking men, and had done a lot to make Troy the same.Disaster had struck half a year ago, when two trucks in Mark�s fifteen truck fleet went down. One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. Troy 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 Troy had on hand.A big problem a lot of trucking companies came across was how bills were paid in the industry. Waiting a month or longer for bills to be paid was quite normal. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Troy was an excellent business man, and he certainly hadn't done anything wrong. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.That�s where the woman across the desk came in. Her name was Christine and she worked for a factoring company. Troy 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.She sat there now, and explained. �it is really not a loan at all: we actually buy 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.Troy nodded. It sounded perfect - perhaps too good?.Christine laughed. �You look like you don�t believe me,� she said.�Oh no, I do: it just sounds too good to be true. I actually thought I might end up losing my business.�Christine smiled, agreeing. �Yes, we get a lot of that. There's no way we want to see you lose your business. We know how hard you work, and that you've invested everything in your business. Sometimes you need help. That�s what we�re here for.""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,� Christine said with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.

 

Troy completed the form, with Christine offering advice as needed.

 

The profile filled Christine and her company in on Mark�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 Troy completed his form, Christine listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Christine took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Mark's hand. He stood before they shook as well, and then smiled. Troy walked Christine to the door where they said 'Goodbye', then he went back into his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He shut his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. Talking to Christine though, learning about factoring, it felt like a weight had been lifted from his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.All those long, sleepless nights. The sudden panic attacks, not matter where he was. He could feel it all fading away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.His mind wandered back to the very beginning, when he first started his business. At twenty-two and straight out of school he had opened a restaurant. It had been really successful. Offering home cooking in his own hometown, his business had really prospered.But it wasn't what he really wanted to do. He wasn't passionate about the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took six months off, and during that time he decided to create Rodney Trucking. And that's exactly what he did. For the second time in his short life he created 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 about to turn fifty. He was concerned that he just did not have the energy left to try and save the business. But giving up wasn't part of his personality either.

 

The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He did not want to quit - both for himself and for his staff members.And now it seemed as though he would not have to - all because of Factoring. Troy opened his eyes, sat forward, turned his computer on. He had lots to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

Why Trucking Companies Work with Factoring Firms.

 

As the owner of your own company, you may likely be more than mindful already of the challenge in making sure that cash flow concerns do not become a dilemma down the line. After all, the most awful thing that can in all probability transpire for your business is to find yourself swept up in a long and hard condition that leaves you forever trying to find the funds you require on an continuing manner.

 

For virtually any firm in this scenario, the issue can come for waiting for work to lapse and actually be settled into your balance. Bill of sales, checks, and the like could take a while to actually to be taken care of which could leave you with momentary capital troubles. Gratefully, there are opportunities out there for establishments to explore-- and one of these is factoring companies.

 

Factoring providers will, in exchange for your bill of sales, provide you with the funds now in order that you do not need to worry about the delaying duration that could make paying out the bills and purchasing materialsmore hard. With this kind of system, invoice factoring can end up being extremely valuable for countless businesses who have to get out of a cash pitfall which they have found themselves in.

 

Given that, depending upon the size of the project, it can take up to 60 days for several enterprises to get paid then it is necessary to cover up your own back and definitely not leave yourself funds short to settle the bills. After all, how many businesses possess two months revenue just lying there to cover all their bills until they earn?

 

This is especially correct of truck agencies. They tend to deal with tons of accounts which means a significant volume of collection period entails company owner themselves. Making an effort to get paid off promptly can turn into an unbelievable trouble and this is the reason why you use truck factoring providers who are happy to help out truckers specifically.

 

As all of us realize, trucking is an astonishingly large field with countless organizations out there handling hundreds of operators. The sad thing is, plenty of these drivers wind up in money troubles considering that they are still waiting on work from six weeks in the past to actually pay them. When this is the scenario for a trucking company, depending on factoring firms for aid may be the best alternative left.

 

This implies that a truck business can provide the paychecks of the workers, keep all the vehicles loaded with fuel and continue to go up, evolve and expand without constantly waiting for the finances which is taking too lengthy to come in. Trucking Enterprises working without a factoring program established are leaving themselves at critical hazard, as contenders cash out promptly and go on to grow.

 

There's absolutely nothing to be worried about when it comes to making use of a Factoring firm-- they typically are not like a banking company or a person who is going to leave you with a big heap of financial obligation to repay. You give them legitimate invoices from output you have already completed , you are only just quickening the repayment process.

 

In the United States, where truck firms grow, factoring companies are not considered borrowing in any capacity. This private deal then permits both parties to make money and indulge in a comfortable future-- it provides the factoring provider a warranted resource of earnings to put into the list and it provides the trucking business the required finances that they worked hard to earn.

 

The trucking business gives their statements to the factoring firm. The trucking factoring business then acquire the payments from the trucking company's customers. Factoring has been all around for hundreds of years and has been utilized for many years by several different business sectors-- but none more so than truckers. While you might lose out on a small part of the money, something like 1-3 % depending upon who you collaborate with, it implies that you are receiving the cash today and can actually start setting the resources to function.

 

Once and for all, an IOU or an invoice is absolutely not going to finance costs, is it? For trucking establishments when the cash can be really good one day and gone the next, it is up to the drivers to work prudently and to ensure they are leaving themselves with a significant quantity of time and finance to get through the week up until they are paid for once more.

 

So the next time your trucking establishment is having some temporary cash flow dilemmas and you are devoting too much time chasing inactive paying clienteles, why not start off taking into consideration utilizing a factoring businesses as a way to get your finances and give yourself a more convenient future in the eyes of your trucking team 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. 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. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

What Are Trucking Factoring Companies?

 

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

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. 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. There's no collateral required. Another great benefit of using the services of a Trucking Factoring company instead of a bank loan is that there is no collateral required for the Trucking Factoring company, because the Trucking Factoring company is buying your accounts receivables. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This means that it is easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.

 

3. Receive Your Money Faster. Using a Trucking Factoring company means that you'll get the finance quicker. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. 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. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you do not have to continue to pay interest as they take it right off the top, deducting it from the total amount of accounts receivable. So not only are you relieved of those monthly loan payments, but you also do not have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. 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 efficient at debt collecting, and this frees up your valuable time to devote to running your 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.While a Trucking Factoring company is not the only way for your business to obtain the money it needs to keep growing, it does offer a type of financing well worth considering.

 

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