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

accountreceivablefactor.com

factoring trucking receivables

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freight factoring definition

Medium-Size freight brokerage companies, particularly those who have not been around for extremely long, will frequently discover it difficult to secure a loan. Banks are often reluctant to lend money to businesses that do not have a great deal of income and properties. They also want proof of the practicality of a business and hence require that a lot of operations, particularly small ones, been around for a certain quantity of time prior to they are eager to turn over any money. Because of this, a medium-size company commonly has few money creating alternatives when requires emerge. One choice readily available, but commonly overlooked, is factoring. This is an exceptional means for a small business to obtain cash.

 

 

 

 

 

 

 

How To Burn Off Receivables, Hour-by-Hour - Choose A Freight�Factoring Company  Instead Of A Regular Bank Financing

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

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

Money flow does not have to be a problem any ever more. Do not be deceived -- banks are not the only locations you can get financing. Other options are available and you do not have to borrow. What is trucking factoring ? One solution is called truck factoring. Truck Factoring is the procedure of offering accounts receivable to an investor instead of waiting to gather the cash from the client. Oh, the Irony- Truck factoring has a paradoxical distinction: It is the monetary backbone of numerous of America's most effective companies. Why is this ironic ? Because receivable financing is not instructed in business colleges, is seldom discussed in business plans and is fairly unknown to bulk of most of American company individuals.

Yet it is a monetary process that releases up billions of dollars every year, allowing countless businesses to grow and succeed. Receivable Loan Financing has been around for countless years. Receivable Financing Companies are investors who pay money for the right to get the future payments on your invoices. An unpaid receivable or invoice has value. It is a debt your customer has to pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business deals, a big percentage of the retail company utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail deals. Using the purest meaning of the word, these big consumer finance business are truly just large Commercial Factoring Businesses of customer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The store makes money practically immediately, even though you do not pay up 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 Staffing Factoring can provide numerous advantages to cash-hungry companies. Rather than wait 30, 60, 90 days or longer for payment on an item that has already been delivered, a business can factor (sell) its receivables for money at a little discount off the amount of the invoice. Payroll, advertising efforts, and working capital are just a few of the business needs that can be satisfied with instant  money.

Receivable Funding offers the means for a manufacturer to replenish inventory and make even more items to offer: There is no longer a requirement to wait for earlier sales to be paid. FACTORING is not simply a cash management tool for producers: Practically any kind business can benefit from Trucking Factoring. Typically, a business that extends credit will have 10 to 20 percent of its annual sales tied up in invoices 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 today s payroll with a client s invoice, but you can offer that invoice for the cash to satisfy those responsibilities. Using trucking factoring companies is a fast and easy process. The factor purchases the invoice at a discount, typically a few percentage points less than the face value of the invoice.

 

 

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The U.s. Trucking Association
specifies that there around
205,000 truck drivers with transportation
firms and
300,000 private providers trucking
firms certified to
operate in America that carried,
according to their most current listings of millions of
items, supplies and
fundamental materials .
There are several usual
carriers either going solo or in
teams on our nation
roadways carrying these
important items to our
stores, factories and harbors.

Plus freight factoring
firms benefit
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

 

 

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San Francisco has a diversified service economy, with employment spread across a wide range of professional services, including financial services, tourism, and (increasingly) high technology. In 2012, approximately 25% of workers were employed in professional business services; 16% in government services; 15% in leisure and hospitality; 11% in education and health care; and 9% in financial activities. In 2012, GDP in the five-county San Francisco metropolitan area grew by 7.4%, to US$360.4 billion; this was the fastest growth in the United States. California Street in the Financial DistrictThe legacy of the California Gold Rush turned San Francisco into the principal banking and finance center of the West Coast in the early twentieth century. Montgomery Street in the Financial District became known as the ""Wall Street of the West"", home to the Federal Reserve Bank of San Francisco, the corporate headquarters, and the site of the now-defunct Pacific Coast Stock Exchange. a pioneer in making banking services accessible to the middle class, was founded in San Francisco and in the 1960s, built the landmark modern skyscraper at 555 California Street for its corporate headquarters. Many large financial institutions, multinational banks, and venture capital firms are based in or have regional headquarters in the city. With over 30 international financial institutions, six Fortune 500 companies, and a large support infrastructure of professional services�including law, public relations, architecture and design�San Francisco is designated as an Alpha(-) World City, and is ranked in 10th place among the top global financial centers. Alcatraz receives 1.5 million annual visitors.Tourism is one of the city's largest private-sector industries, accounting for more than one out of seven jobs in the city. The city's frequent portrayal in music, film, and popular culture has made the city and its landmarks recognizable worldwide. San Francisco attracts the fifth-highest number of foreign tourists of any city in the U.S.[dated info] and ranks 43rd out of the 100 most visited cities worldwide according to Euromonitor International. More than 16.9 million visitors arrived in San Francisco in 2013, injecting US$9.4 billion into the economy. With a large hotel infrastructure and a world-class convention facility in the Moscone Center, San Francisco is a popular destination for annual conventions and conferences.Since the 1990s, San Francisco's economy has diversified away from finance and tourism towards the growing fields of high tech, biotechnology, and medical research. Technology jobs accounted for just 1 percent of San Francisco's economy in 1990, growing to 4 percent in 2010 and an estimated 8 percent by the end of 2013. San Francisco became an epicenter of Internet start-up companies during the dot-com bubble of the 1990s and the subsequent social media boom of the late 2000s. Since 2010, San Francisco proper has attracted an increasing share of venture capital investments as compared to nearby Silicon Valley, attracting 423 financings worth US$4.58 billion in 2013. In 2004, the city approved a payroll tax exemption for biotechnology companies[143] to foster growth in the Mission Bay neighborhood, site of a second campus and hospital of the University of California, San Francisco (UCSF). The top employer in the city is the city government itself, employing 5.3% (25,000+ people) of the city's population, followed by UCSF with over 22,000 employees. Third�at 1.8% (8,500+ people)�is , the largest private-sector employer.[146] Small businesses with fewer than 10 employees and self-employed firms make up 85% of city establishments,[147] and the number of San Franciscans employed by firms of more than 1,000 employees has fallen by half since 1977.[148] The growth of national big box and formula retail chains into the city has been made intentionally difficult by political and civic consensus. In an effort to buoy small privately owned businesses in San Francisco and preserve the unique retail personality of the city, the Small Business Commission supports a publicity campaign to keep a larger share of retail dollars in the local economy,[149] and the Board of Supervisors has used the planning code to limit the neighborhoods where formula retail establishments can set up shop, an effort affirmed by San Francisco voters.Like many U.S. cities, San Francisco once had a significant manufacturing sector employing nearly 60,000 workers in 1969, but nearly all production left for cheaper locations by the 1980s. As of 2014, San Francisco has seen a small resurgence in manufacturing, with more than 4,000 manufacturing jobs across 500 companies, doubling since 2011. The city's largest manufacturing employer is.

 

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

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

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

 

Searching for the right trucking companies to move your freight can be tough, with the large amount of local, regional, and national truck carriers out there. Center helps make freight shipping simple, finding you the safest, reliable trucking companies every time you ship. Trucking companies are licensed and insured to carry freight safely and efficiently across the country, no matter the size or type of freight you need to ship.Plus, with the high volume of freight we move, we will work to get you the best freight rates possible. Simply enter in a few details below and you�ll see instant freight rates from all the top trucking companies in one easy screen

 

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

 

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.

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

 

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

 

"

Torres Truck & Haul have been operating their 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 heady times from 2002 to 2007, Torres 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 down. Worse still, it was noticed by Torres 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 Torres, Bruce Terry, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. There was a growing list of clients who now owed them back debt.He had already been to the administrators to ask what the actual problem was. Were they doing things different, or wrong, when it came to collecting overdue accounts? By his bookkeepers records, this wasn't the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Torres 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 Torres hadn't gone elsewhere. They had just gone home.To Bruce Terry the situation looked desperate. He had employees to pay, goods to ship, trucks to maintain and overhead that was almost unbearable when compared against the lack of funds that were coming in. At night he would speak to his wife Kelly and shake his head in frustration.

 

""I have a bad feeling, Lin,"" he would say with deep woe.""Well, what do you think it is?"" she would ask.Bruce 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. What on earth was happening to create the death of his business?""I think I know what it could be,"" said Bruce. ""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."" Kelly would look at her husband lovingly, and holding his hand would say 'it is such a harsh economy these days and our clients must be having difficulty meeting their responsibilities'.""Bruce knew very well that Kelly 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 Bruce walked into his office with a spring in his step, determined to call each and every client who owed money to Torres Truck & Haul. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. Wasting money, wasting time - even with the best of intentions, Bruce knew that he was in trouble.

 

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 Olgaerley knocked at his door.

 

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

 

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

 

Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Bruce interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""it is actually very simple. We can have an expert account manager review our numbers and help us complete a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. 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,� Bruce said. �And then what?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. There�s a lot of flexibility depending on the business volume and credit histories. The company will advise us the cost to purchase factoring for our company's accounts receivable. Once we arrive at a mutual agreement, the funding begins.�Bruce was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""I do not know, Olga - it just sounds too good to be true"", Bruce said quietly.""Now, now, I know, I thought the same thing. But think about it, Bruce: 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, Bruce,"" she underlined a paragraph on the paper before him.""Just how flexible?"" he asked.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. Apparently they can figure this all out in two to four days.

 

""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" said Bruce.He took a deep breath and looked at his secretary with something she recognized as hope.""Precisely�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Bruce took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Torres Truck & Haul were professional resources of the company, but they were also long-standing friends. Bruce wasn't prepared to lose these relationships just because they were having financial issues at the moment. Bruce knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. 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. Of course he did not want to lose any more money, but he did not want to lose business either.""Let me go over this tonight Olga, and thankyou."" Olga nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Bruce stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. He wondered if there might be other problems freight factoring could help Torres 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. Bruce was surprised: it said that his company could get up to fifty percent cash advances on load pickups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""Well, I'll have to tell Ricardo about this,"" Bruce muttered to himself.Bruce's son-in-law, Ricardo, loved the idea behind Torres 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 Bruce knew the struggles Ricardo would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Torres was struggling then the little guys, like Ricardo, were going to be in even more trouble.

 

But, an antidote may have been found in freight factoring and Bruce was soon to find out.Some months later, having successfully gone through the entire process of the application, having experts study his credit history and statements and review his accounts receivable, Bruce found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They took that time and refocused effort to offering competitive prices in new territories. Bruce looked back on the dismal months of life before freight factoring and almost shuddered at the thought. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

 

More Trucking Factoring Companies Story Articles

The Future of a Trucking Company, and Factoring Chad Gomez 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. Gomez Trucking Company was at a turning point of growth and Chad had to decide if signing with a factoring company was the right way forward.

 

Chad�s father had started as an owner-operator and had grown Gomez Trucking Company into a fifteen trailer fleet over forty years. There had been some hard times when it seemed everything was going to go under and even Chad�s mother strapped herself into a cab to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. But now things were different: the company was in Chad's hands and he needed to ensure that this business would be left in great shape for his sons.

 

To move Gomez Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. His employees needed to be paid. 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, Gomez 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. Chad allowed himself a good hard chuckle. He remembered when his father was totally against installing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. He knew his father's days were long gone and new technology was very important for the business, like having Qualcomm to reduce communication time for bills of lading.

 

Chad knew he was right in his forward thinking. What would be the next step for Gomez Trucking? And how would he be able to afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

He wondered about factoring - was this the answer for him? 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. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. Without this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Chad had to really consider what his next step was going to be. Chad 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. 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. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. 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. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. He was more than happy with the figures he was offered in percentage terms on the freight bills. It was good money.

 

It was really refreshing dealing with the factoring people. They were extremely helpful and more personable than the bank staff. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar for a handout. The factoring companies were not interested in his credit nor the financial problems his father had experienced in the past. Factoring was based on the credit of his customers and on their reliability which worked well for Chad 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 would not have any problems, nor would they think poorly of Gomez 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.

 

Chad stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. He suddenly realized that, with this new cash flow, he could actually expand Gomez Trucking Company and who knows, move into Canada, which had always been his dream. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

 

 

 

 

 

 

 

Funding Company

 

Factoring Bank

 

 

 

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Trucking Factoring  Articles

"

�So It is not a loan?� Chad Andrews asked as he leaned back in his chair, crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she stated.Chad was the owner of a small trucking company which had fallen on some hard times recently. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Joshua. His company was called Meyer Trucking, named after both of his grandfathers, Chad and Kyle. They had both been hardworking men, and had done a lot to make Chad the same.Six months ago disaster struck Joshua's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. Chad 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 Chad 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.Chad was an excellent business man, and he certainly hadn't done anything wrong. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.That�s where the woman across the desk came in. Her name was Rita and she worked for a factoring company. He had accidentally come across her company one night when he was working late, searching the internet to see if there was some solution to his financial dilemma.She sat there now, and explained. �it is really not a loan at all: we actually buy your accounts receivable. We 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.Chad agreed. It sounded good to him, almost too good.The woman laughed. �I'm not sure that you believe me,� she chuckled.�Oh no, I do: it just sounds too good to be true. I thought I was going to lose my company.�Rita nodded. �Yes, we get a lot of that. 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.""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,� Rita said with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Chad completed the form, with Rita offering advice as needed.

 

The profile filled Rita and her company in on Joshua�s company, and would help them determine if he was suitable for factoring. Unfortunately, not all companies are. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. Listening as Chad filled out his form, Rita was pretty sure he was a perfect candidate for factoring.When the form was done Rita took it and slid it into her briefcase. She then stood, reached across the desk and shook Joshua�s hand. He stood before they shook as well, and then smiled. They said their goodbyes and Chad walked her to the door, and then returned to his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He leaned back and closed his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. But now, after speaking to Rita and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.All those long, sleepless nights. The terrifying panic attacks that occurred regardless of where he was. He could feel it all fading away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was there, he was on the right path, and he was working to make things right.Chad couldn�t help but think back to when he had first started the business. At twenty-two and straight out of school he had opened a restaurant. It had been successful. Offering home cooking in his own hometown, his business had really prospered.But it wasn't what he really wanted to do. His passion didn�t lie with the food industry. He thought long and hard, and then he decided to sell the restaurant. He took half a year off, and in that time he thought to start Meyer 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.And then the trucks went down, and his success looked to be in flux. He was nearing fifty. He was concerned that he just did not have the energy left to try and save the business. 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 it seemed as though he would not have to - all because of Factoring. Joshua's eyes opened, he sat forward in his chair and turned on his computer. He had things 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 Use Factoring Companies.

 

As the owner of your own company, you may well be much more than conscious already of the hardship in making certain that capital concerns do not become a problem down the line. After all, the most terrible thing that can quite possibly take place for your establishment is to find yourself involved in a long and challenging circumstance that leaves you forever searching for the money you need to have on an on-going manner.

 

For pretty much any firm in this condition, the problem can come for waiting for work to lapse and actually be paid out into your bank account. Statements, checks, and the like could take a long time to actually to beprocessed which could leave you with short-term cash flow issues. Luckily, there are approaches out there for establishments to delve into-- and one of these is factoring agencies.

 

Factoring agencies will, in trade for your bill of sales, provide you with the funds today so you do not have to fret about the lingering time span that could make paying out the bills and purchasing toolsmore complicated. With this form of arrangement, invoice factoring can become tremendously practical for countless enterprises who have to get out of a cash pitfall which they have found themselves in.

 

Given that, depending upon the scale of the job, it can take up to 60 days for a number of business enterprises to get compensated then it is critical to cover up your own back and certainly not leave yourself cash short to pay the bills. After all, how many companies possess two months earnings just occupying there to handle all their expenses until they make money?

 

This is specifically true of truck establishments. They often handle numbers of accounts which means a significant quantity of collection period entails company owner themselves. Seeking to get compensated promptly can come to be an amazing headache and this is the key reasons why you utilize trucking factoring providers who are delighted to help out truckers particularly.

 

As all of us determine, trucking is an remarkably big industry with countless organizations out there utilizing hundreds of drivers. Sadly, numerous of these drivers end up in money issues since they are still waiting for work from six weeks previously to actually compensate them. When this is the scenario for a trucking business, resorting to factoring providers for reinforcement might be the very best alternative left.

 

This indicates that a truck business can pay out the paychecks of the staff, keep all the cars refilled with fuel and continue to surmount, grow and expand without continually waiting for the money which is taking too long to come in. Trucking Business enterprises working without a factoring program established are leaving themselves at critical hazard, as competitors cash out rapidly and carry on to expand.

 

There's absolutely nothing at all to be distressed about when it comes to working with a Factoring company-- they are not like a financial institution or someone who is going to leave you with a big heap of financial obligation to pay back. You give them legitimate invoices from work you have already wrapped up , you are merely hastening the payment system.

 

In the United States, where truck establishments succeed, factoring companies are not considered taking on loan in any capacity. This confidential settlement then allows both parties to benefit and enjoy a good future-- it gives the factoring firm a warranted asset of earnings to put into the list and it supplies the trucking firm the required money that they sweated to acquire.

 

The trucking company presents their accounts to the factoring business. The trucking factoring agency then obtain the installment payments from the trucking company's clients. Factoring has beenaround for hundreds of years and has been utilized for decades by a lot of varying sectors-- but none exceeding so than truckers. While you may miss out on a small part of the money, something like 1-3 % depending upon who you team up with, it signifies that you are obtaining the cash today and can actually start off setting the money to do work.

 

Anyway, an IOU or an invoice is not actually going to finance spendings, is it? For trucking establishments when the income can be really good one day and gone the next, it is up to the drivers to work smartly and to ascertain they are leaving themselves with a significant measure of time and finance to get through the week up until they are handed over again.

 

So the next moment your trucking business is having some momentary capital troubles and you are spending a lot of time chasing slow paying customers, why not begin looking at utilizing a factoring businesses as a method to get your money and give yourself a more at ease future in the eyes of your trucking workers and your bank dividend?

 

 

 

 

 

 

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Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. While these loans are handy they are not available to every business. 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. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Once the loan is paid off, you can then apply for another loan if the need arises.

 

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. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to sell. Once 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.

 

What Are The Benefits Of A Trucking Factoring Company Versus A Traditional 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. 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. 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. 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 benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This means that it is easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.

 

3. Receive Your Money Faster. Using a Trucking Factoring company means that you'll get the finance quicker. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.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 you do not have to worry about monthly loan repayments, and you do not have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The most important benefits is that once you sell your accounts receivable to the factory company, you do not have to take time away from running your business to collect the money owed from reluctant to pay customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

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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