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Is The Life of a Receivable Worth $1 to You - Our Receivable Financing Company Can Give
Your Freight Company The Money You Need

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Truck Factoring is advantageous for numerous reasons. It permits a trucking business to raise cash without acquiring new financial obligation. While financial obligation is sometimes essential, many trucking companies would choose to raise cash without borrowing money. Debt is risky, and when it can not be paid back, assets can be repossessed. If the debt is large enough, it might even force a freight brokerage out of business.

 

 

 

 

 

 

 

They Grinned When the Banker Spoke to Me in French - Choose A Truck�Factoring Company  Instead Of A Regular Bank Financing

Exactly how to Increase Money Flow Without Loaning -Cash Money flow is among the main reasons businesses fail.

At one time or another, every business, even successful ones, have actually experienced poor 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 financing. Other solutions are offered and you do not have to borrow money. Exactly what is truck factoring ? One solution is called trucking factoring. Trucking Factoring is the process of selling invoices to a financier rather than waiting to gather the money from the customer. Oh, the Irony- Truck factoring has an ironic difference: It is the monetary backbone of many of America's most successful companies. Why is this ironic ? Because truck factoring is not instructed in business colleges, is rarely mentioned in company plans and is fairly unidentified to bulk of most of American business individuals.

Yet it is a monetary process that frees billions of dollars every year, allowing countless companies to grow and prosper. Trucking Factoring has actually been around for thousands of years. FACTORING Businesses are investors who pay cash for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your client has actually to pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business deals, a large portion of the retail company uses a factoring principal. MasterCard, Visa, and American Express all utilize a type of factoring in their retail deals. Using the purest definition of the word, these large customer finance companies are really simply big Receivable Financing Companies of consumer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The shop makes money practically instantly, although you do not make payment until you are prepared.

For this service, the credit card business charges Sears a fee (typical common normal fees range from two to four percent of the sale). The Benefits Commercial Factoring can provide many advantages to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on an item that has actually already been provided, a business can factor (sell) its receivables for money at a little discount off the dollar value of the invoice. Payroll, advertising efforts, and working capital are simply a few of the company needs that can be met with instant  money.

Factoring provides the means for a manufacturer to replenish stock and make even more items to sell: There is no longer a need to wait for earlier sales to be paid. FACTORING is not simply a money management device for producers: Practically any kind business can benefit from Receivable Financing. Generally, a company that extends credit will have 10 to 20 percent of its annual sales bound in invoices at any given time. Think for a minute about how much is bound in 60 days' worth of invoices: You can not pay the power expense or this week s payroll with a client s invoice, but you can sell that invoice for the money to meet those responsibilities. Using truck factoring companies is a quick and easy procedure. The factoring company buys the invoice at a price cut, typically a few percentage points less than the stated value of the invoice.

 

 

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The U.s. Transportation Organization
specifies that there are about
195,000 truck drivers with freight trucking
businesses and
250,000 private service providers trucking
firms accredited to
run in the States that transferred,
according to their newest data of millions
items, materials and
basic products .
There are several typical
providers either going solo or in
teams on our nation
roads transferring these
crucial products to our
stores, manufacturing facilities and ports.

Plus truck factoring
corporations support
many of them and offer their
receivables financing services
countrywideincluding
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

 

"

Reno is a city in the US state of Nevada. Known as ""The Biggest Little City in the World"", Reno is famous for its casinos. The city is situated in the northwestern part of the state and is the county seat of Washoe County. Reno is the most populous Nevada city outside of the Las Vegas metropolitan area. As of the 2010 census, the city had a population of 225,221 making it the fourth most populous city in the state after Las Vegas, Henderson, and North Las Vegas. The city sits in a high desert valley at the foot of the Sierra Nevada.Reno is the birthplace of . The Reno�Sparks metropolitan area is informally called the Truckee Meadows and consists of nearly 500,000 residentsBefore the late 1950s, Reno was the gambling capital of the United States, but in the last twenty years Las Vegas' rapid growth, American Airlines' 2000 buyout of Reno Air, and the growth of Native American gaming in California have reduced its business. Older casinos were torn down, or smaller casinos like were either closed or were converted into condos.Because of its location, Reno has traditionally drawn the majority of its California tourists and gamblers from the San Francisco Bay Area and Sacramento, while Las Vegas has historically served more tourists from Southern California and the Phoenix area.Several local large hotel casinos have shown significant growth and have moved gaming further away from the Virginia Street core. These larger hotel casinos are the .was chosen as the most outstanding Reno gaming/hotel property by Casino Player and Nevada magazines. In 2005, the Casino began a $300 million Tuscan-themed expansion.In an effort to bring more tourism to the area, Reno holds several events throughout the year, most of which have been extremely successful. They include Hot August Nights (a classic car convention), Street Vibrations (a motorcycle fan gathering and rally), The Great Reno Balloon Race, a Cinco de Mayo celebration, bowling tournaments (held in the National Bowling Stadium), and the Reno Air Races.Several large commercial developments were constructed during the mid-2000s boom, such as The Summit in 2007 and Legends at Sparks Marina in 2008.Reno is the location of the corporate headquarters for numerous companies have development and manufacturing presence in Reno.

 

"

 

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

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

 

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

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

 

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

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

 

Click below to find Trucking Companies in the United States:

Trucking Companies serving to/from points within the United States,
categorized by services offered. United States Trucking
Companies will be listed under all categories in which they provide specified Trucking Services.
To find companies offering specific Trucking Services in the United States, click on the list of services below.

Click below to find Trucking Companies in the United States:

Trucking Companies serving to/from points within the United States,
categorized by services offered. United States Trucking
Companies will be listed under all categories in which they provide specified Trucking Services.
To find companies offering specific Trucking Services in the United States, click on the list of services below.

 

"

Since the mid 1980s Gonzalez 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, Gonzalez was a top rated accounts receivable mastermind of the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. Cash was flowing and times were good for all.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, Gonzalez 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 Gonzalez, Joshua Jimenez, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The number of clients who were late in their payments was continuing to grow.He had gone to his administrators and asked them what the problem had been. Were they doing things different, or wrong, when it came to collecting overdue 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 Gonzalez money had jumped ship and decided to leave him holding the bag.

 

. They could not afford to pay him their debt, but they could afford a lesser service, maybe. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Gonzalez hadn't gone elsewhere. They had just gone home.To Joshua Jimenez the situation looked desperate. Joshua 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. At night he would speak to his wife Martha and shake his head in frustration.

 

""I have a bad feeling, Lin,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would ask.Joshua would stare off into the distance, and then slowly close his eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them on the road, delivering good to all his loyal customers. But 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 know what it is,"" Joshua said. ""For way too long I've been relying solely on profits received from invoices. I've let too many of our customers go too long without paying on their bills."" 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.

 

""Joshua knew his wife meant well, but he knew that he was responsible for too many people to sit idly by, waiting for the sun to peak over the clouds.The next day Joshua strolled into his office and was determined to sit down and make every phone call to every client who had owed Gonzalez money. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. Wasting money, wasting time - even with the best of intentions, Joshua knew that he was in trouble.

 

Poor Joshua spent the whole morning trying in vain to contact his debtors: they promised to call back, dodged his calls, or made small interest-only payments. He was beginning to feel quite despaired when his secretary knocked on his door.

 

""Joshua, can I have a word?"" she asked standing in the doorway.

 

""Of course Kathryn, please come in."" Joshua leaned back in his chair and looked expectantly at Kathrynerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Joshua."" 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?"" Kathrynerley asked.""It does sound vaguely familiar. What is factoring""? he asked.""Well,"" she began, ""It�s actually quite simple really.

 

Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Immediately?"" Joshua interrupted.""Immediately, yes"" she added, ""it is actually very simple. We can have an expert account manager review our numbers and help us complete a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It�s a broad view.""I see,� Joshua 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. We come to an agreement and the funding starts pouring out.�Joshua was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Kathryn,"" he said.""Now, now, I know, I thought the same thing. But think about it, Joshua: they've guaranteed that experts will do all the paperwork, and that will free us up to do what we should be doing - focusing on our customers in good standing, and that kind of stuff. They appear to be very flexible, Joshua,"" she drew a circle around a paragraph on the document before him.""How flexible?"" asked Joshua.""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. It only takes 2 to 4 days for this to be figured out. ""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" said Joshua.He took a deep breath and looked at his secretary with something she recognized as hope.""Precisely�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Joshua 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 Gonzalez. They did not want to throw away these relationships because they were having trouble paying their bills now. 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, if he handled these debtors incorrectly, could spell disaster for both of them. Of course he did not want to lose any more money, but he did not want to lose business either.""Well, let me think about this tonight Kathryn, thank you."" Kathryn nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Joshua keep the shirt on his back, and possibly hers too.Joshua sat behind his desk and looked over the details Kathryn had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Gonzalez Truck & Haul with? Running his pencil down the sheet, he noted that the freight factoring company could assist with fuel costs, fuel advances, and fuel discount cards. Joshua was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Joshua 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 Herman the good news,"" Joshua muttered to himself.His son-in-law Herman had liked the idea of Gonzalez so much and revered his father in law for having such business acumen that only two years before, he had gathered the venture capital to begin his own transportation service company. At that time Joshua knew the struggles Herman would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Gonzalez was struggling then the little guys, like Herman, were going to be in even more trouble.

 

But, maybe the answer for both of them was in freight factoring, and Joshua was going to find out very soon.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Joshua was beginning to find his way out of the hole his debtors had created for him.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They used that time to refocus their efforts in being competitive in new territories. Joshua 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.

 

"

 

"

Reno is a city in the US state of Nevada. Known as ""The Biggest Little City in the World"", Reno is famous for its casinos. The city is situated in the northwestern part of the state and is the county seat of Washoe County. Reno is the most populous Nevada city outside of the Las Vegas metropolitan area. As of the 2010 census, the city had a population of 225,221 making it the fourth most populous city in the state after Las Vegas, Henderson, and North Las Vegas. The city sits in a high desert valley at the foot of the Sierra Nevada.Reno is the birthplace of . The Reno�Sparks metropolitan area is informally called the Truckee Meadows and consists of nearly 500,000 residentsBefore the late 1950s, Reno was the gambling capital of the United States, but in the last twenty years Las Vegas' rapid growth, American Airlines' 2000 buyout of Reno Air, and the growth of Native American gaming in California have reduced its business. Older casinos were torn down, or smaller casinos like were either closed or were converted into condos.Because of its location, Reno has traditionally drawn the majority of its California tourists and gamblers from the San Francisco Bay Area and Sacramento, while Las Vegas has historically served more tourists from Southern California and the Phoenix area.Several local large hotel casinos have shown significant growth and have moved gaming further away from the Virginia Street core. These larger hotel casinos are the .was chosen as the most outstanding Reno gaming/hotel property by Casino Player and Nevada magazines. In 2005, the Casino began a $300 million Tuscan-themed expansion.In an effort to bring more tourism to the area, Reno holds several events throughout the year, most of which have been extremely successful. They include Hot August Nights (a classic car convention), Street Vibrations (a motorcycle fan gathering and rally), The Great Reno Balloon Race, a Cinco de Mayo celebration, bowling tournaments (held in the National Bowling Stadium), and the Reno Air Races.Several large commercial developments were constructed during the mid-2000s boom, such as The Summit in 2007 and Legends at Sparks Marina in 2008.Reno is the location of the corporate headquarters for numerous companies have development and manufacturing presence in Reno.

 

"

 

More Trucking Factoring Companies Story Articles

The Future of a Trucking Company, and Factoring Curtis Reynolds let the phone ring on his desk. His morning coffee cooled and his cigarette smoked away in the tray: Curtis is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Reynolds Trucking Company was at a turning point of growth and Curtis had to decide if signing with a factoring company was the right way forward.

 

Curtis�s father had started as an owner-operator and had grown Reynolds 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 Curtis's mother had jumped into the cab at times to make hauls. His father had worked long enough to see the price of hires drop dramatically during the recession and to see the explosion of fuel prices afterwards. But now things were different: the company was in Curtis's hands and he needed to ensure that this business would be left in great shape for his sons.

 

There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. He had employees to pay. They had families and household bills too. 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, Reynolds Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Curtis allowed himself a good hard chuckle. His father had been against placing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� 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.

 

Curtis believed a successful man is always thinking of his next step. What would be the next step for Reynolds Trucking? 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. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

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

 

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

 

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. 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 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 Curtis 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 would not have any problems, nor would they think poorly of Reynolds Trucking, because the factoring companies handle themselves in such a polite and professional manner, similar to the way his father had managed the business in the past.

 

Feeling happier now, Curtis 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, Curtis could actually expand Reynolds Trucking Company further across the country and perhaps even go international into Canada. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

 

 

 

 

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Trucking Factoring  Articles

"

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

 

One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. Willie depended on his full fleet, and missing two trucks was devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Willie had on hand.A big problem a lot of trucking companies came across was how bills were paid in the industry. Waiting a month or longer for bills to be paid was quite normal. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Willie was an excellent business man, and he certainly hadn't done anything wrong. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.And that's why he found himself across the desk from this woman. Her name was Jamie and she worked for a factoring company. Willie had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.Jamie explained. �It�s not a loan, we purchase your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. This is a win-win situation: we are protected from a total loss, and you're protected from the ridiculous fees and charges you'd have to pay if you borrowed from a bank.Willie nodded. It sounded good to him, almost too good.The woman laughed. �I'm not sure that you believe me,� she said.�Oh no, I do: it just sounds too good to be true. I thought I was going to lose my company.�Jamie nodded. �We get that a lot. Listen, I�d hate to see you lose your company. We know how hard you work, and that you've invested everything in your business. We all need help sometimes. That�s what we�re here for.""In any case, thank you for coming to see me.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� said Jamie with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Willie completed the form, with Jamie offering advice as needed.

 

The completed profile gave Jamie and her company all the information they needed on Albert's business, and with this information they would determine if this business would in fact be suitable for Factoring. In truth, not all companies were. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. As Willie completed his form, Jamie listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Jamie took it and slid it into her briefcase. She then stood, reached across the desk and shook Albert�s hand. He also stood up, and they smiled at each other. Willie walked Jamie to the door where they said 'Goodbye', then he went back into his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He shut his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. Talking to Jamie though, learning about factoring, it felt like a weight had been lifted from his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.The long nights, where he couldn�t sleep. The sudden panic attacks, not matter where he was. He could feel it all fading away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was there, he was on the right path, and he was working to make things right.His mind wandered back to the very beginning, when he first started his business. At twenty-two and straight out of school he had opened a restaurant. It had been successful. Offering home cooking in his own hometown, his business had really prospered.But it wasn't what he really wanted to do. He wasn't passionate about the food industry. He thought long and hard, and then he decided to sell the restaurant. He took six months off, and during that time he decided to create Scott Trucking. So he did it. For the second time in his short life he created a company from the ground up. The business had been an instant success.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was about to turn fifty. He didn�t think he had it in him, to save this company. But he couldn�t give up. Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He did not want to quit - both for himself and for his staff members.And now, because of factoring, he was sure he wouldn�t have to. Willie opened his eyes, sat forward, turned his computer on. He had lots to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

Reasons why Truck Agencies Work with Factoring Firms.

 

As the operator of your own business, you may perhaps be much more than wary already of the difficulty in making certain that capital concerns do not become a difficulty down the line. After all, the most disappointing thing that can potentially transpire for your business is to find yourself involved in a long and difficult predicament that leaves you forever searching for the cash you necessitate on an recurring manner.

 

For virtually any establishment in this circumstance, the complication can come for waiting for work to clear up and actually be paid out into your balance. Invoices, checks, and the like could take a while to actually to beprocessed which can leave you with temporary capital dilemmas. Thankfully, there are alternatives out there for businesses to look into-- and just one of these is factoring agencies.

 

Factoring firms will, in trade for your statements, supply you with the cash today so that you do not need to worry about the waiting duration that could make paying the bills and purchasing toolsmore difficult. With this sort of setup, invoice factoring can become extremely beneficial for various businesses who need to get out of a money ploy which they have discovered themselves in.

 

Due to the fact that, depending on the scale of the job, it can take up to 60 days for several businesses to get paid then it is significant to take care of your own back and definitely not leave yourself money short to settle the monthly bills. After all, how many business enterprises possess two months revenue just lying there to cover all their expenditures till they earn?

 

This is especially true of trucking enterprises. They usually handle bunches of accounts which means a serious volume of collection time entails company owner themselves. Seeking to get compensated promptly can eventually become an amazing hassle and this is why you make use of trucking factoring agencies who are happy to help out truckers mainly.

 

As we all recognize, trucking is an extremely large field with lots of organizations out there working with hundreds of vehicle drivers. Sadly, plenty of these drivers end up in income problems given that they are still waiting on work from six weeks earlier to actually compensate them. When this is the case for a truck agency, consulting factoring firms for solutions might be the best choice left.

 

This signifies that a truck business can pay the paychecks of the crew, keep all the cars loaded with fuel and continue to go up, thrive and expand without constantly waiting for the cash which is taking too prolonged to come in. Trucking Companies functioning without a factoring program established are leaving themselves at notable risk, as competitions cash out rapidly and proceed to grow.

 

There's absolutely nothing to be distressed about when it comes to working with a Factoring firm-- they commonly are not like a bank or any individual who is going to leave you with a substantial stockpile of liability to pay back. You give them authentic invoices from work you have already finalized , you are only expediting the payment process.

 

In the United states of America, where trucking establishments prosper, factoring companies are not considered borrowing in any capacity. This confidential settlement then lets both parties to benefit and experience a good future-- it provides the factoring business a guaranteed asset of revenue to add to the list and it offers the trucking company the needed money that they worked hard to obtain.

 

The trucking business provides their accounts to the factoring enterprise. The trucking factoring firm then obtain the payment amounts from the trucking company's customers. Factoring has been in existence for hundreds of years and has been adopted for several years by a lot of varying business-- but none much more so than truckers. While you could miss out on a small part of the money, something like 1-3 % depending upon who you deal with, it means that you are receiving the funds today and can actually start off putting the resources to operate.

 

Once and for all, an IOU or an invoice is certainly not going to fund costs, is it? For trucking enterprises when the finances can be good one day and gone the next, it is up to the drivers to work sensibly and to guarantee they are leaving themselves with a notable measure of time and finance to get through the week until they are handed over once again.

 

So the next moment your trucking enterprise is having some momentary cash flow problems and you are investing an excessive amount of time chasing inactive paying clienteles, why not start considering using a factoring companies as a way to get your finances and give yourself a more convenient future in the eyes of your trucking crew and your bank dividend?

 

 

 

 

 

 

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Bank Loans

 

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

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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

 

1. 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. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. 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. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

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

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The most important benefits is that once you sell your accounts receivable to the factory company, you do not have to take time away from running your business to collect the money owed from reluctant to pay customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very efficient at debt collecting, and this frees up your valuable time to devote to running your company.

 

In addition, since the Trucking Factoring company evaluates the credit quality of your customers prior to purchasing the accounts receivable you gain valuable information into which customers are likely to pay and which ones are not so likely to pay.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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