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The Secret to Being Wealthy - Our Receivable Financing Company Can Provide
Your Trucking Company The Cash You Want

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Factoring invoices is advantageous for numerous reasons. It allows a truck firm to raise money without acquiring new financial obligation. While debt is often required, most truck companies would choose to raise cash without borrowing money. Debt is high-risk, and when it cannot be paid back, possessions can be repossessed. If the financial obligation is huge enough, it could even force a truck companies out of business.

 

 

 

 

 

 

 

The Instrument of Profitable Companies - Select An Invoice Factoring Company Instead Of A Typical Bank Funding

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

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

Money flow does not have to be an issue any ever more. Do not be fooled -- banks are not the only locations you can get funding. Other options are available and you do not have to borrow. What is trucking factoring ? One option is called truck factoring. Truck Factoring is the procedure of selling accounts receivable to a financier instead of waiting to gather the cash from the customer. Oh, the Irony- Truck factoring has an ironic distinction: It is the financial backbone of many of America's most effective businesses. Why is this paradoxical ? Since receivable funding is not taught in business colleges, is rarely mentioned in business plans and is relatively unknown to the majority of most of American company individuals.

Yet it is a monetary process that releases up billions of dollars every year, allowing countless companies to grow and prosper. FACTORING has actually been around for thousands of years. Trucking Factoring Businesses are financiers who pay money for the right to get 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 solely with business-to-business transactions, a large portion of the retail company uses a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail transactions. Using the purest meaning of the word, these big consumer finance companies are really just large Staffing Factoring Businesses of consumer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The shop gets paid almost instantly, although you do not pay until you are ready.

For this service, the charge card company charges Sears a fee (typical common normal charges vary from 2 to 4 percent of the sale). The Advantages Trucking Factoring can offer many benefits to cash-hungry companies. Instead of waiting 30, 60, 90 days or longer for payment on an item that has currently been delivered, a business can factor (sell) its receivables for cash at a little price cut off the amount of the invoice. Payroll, marketing efforts, and working capital are simply a few of the business requirements that can be met with instant  cash.

Accounts Receivable Factoring provides the ways for a producer to replenish inventory and make more items to sell: There is no longer a need to wait for earlier sales to be paid. FACTORING is not just a money management tool for manufacturers: Practically any kind company can take advantage of Receivable Financing. Generally, 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 customer s invoice, however you can sell that invoice for the cash to satisfy those responsibilities. Using trucking factoring companies is a fast and easy process. The factor buys the invoice at a discount, typically a couple of percentage points less than the face value of the invoice.

 

 

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The U.s. Transportation Association
mentions that there around
200,000 workers with freight trucking
businesses and
276,000 private service providers trucking
companies certified to
run in the U.S. that carried,
according to their most current data of millions
products, supplies and
basic products .
There are numerous common
providers either going solo or in
groups on our nation
highways transporting these
important products to our
stores, manufacturingplants and shipping ports.

Plus freight invoice factoring
corporations support
countless of them and offer their
factoring services
nationallyincluding
including the following states.

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

 

"

San Bernardino is a city located in the Riverside-San Bernardino metropolitan area (sometimes called the ""Inland Empire""). It serves as the county seat of San Bernardino County, California, United States. As one of the Inland Empire's anchor cities, San Bernardino spans 81 square miles (210 km2) on the floor of the San Bernardino Valley, and has a population of 209,924 as of the 2010 census. San Bernardino is the 17th largest city in California, and the 99th largest city in the United States. San Bernardino is home to multiple diplomatic missions for the Inland Empire, being only one of only four California cities with multiple consulates (the three other cities being Los Angeles, San Diego and San Francisco). The governments of Guatemala (opening July 2014) and Mexico have established their consulates in the downtown area of the city.California State University, San Bernardino is located in the northeastern part of the city. The university also hosts the Coussoulis Arena. Other attractions in San Bernardino include ASU Fox Theatre, the McDonald's Museum, which is located on the original site of the world's first McDonald's, California Theatre, the San Bernardino Mountains, and San Manuel Amphitheater, the largest outdoor amphitheater in the United States. In addition, the city is home to the Inland Empire 66ers baseball team, they play their home games at San Manuel Stadium in downtown San Bernardino.In July 2012, San Bernardino became the largest city to that date to choose to file for protection under Chapter 9 of the U.S. Bankruptcy code; this has been superseded by Detroit's filing in July 2013. San Bernardino's case was filed on August 1. San Bernardino is the poorest city of its population size in California, and the second poorest in the US next to Detroit, MichiganGovernment, retail, and service industries dominate the economy of the city of San Bernardino. From 1998 to 2004, San Bernardino's economy grew by 26,217 jobs, a 37% increase, to 97,139. Government was both the largest and the fastest-growing employment sector, reaching close to 20,000 jobs in 2004. Other significant sectors were retail (16,000 jobs) and education (13,200 jobs). The Burlington Northern and Santa Fe Railway intermodal freight transport yard.The city's location close to the Cajon and San Gorgonio passes, and at the junctions of the I-10, I-215, and SR-210 freeways, positions it as an intermodal logistics hub. The city hosts the Burlington Northern and Santa Fe Railway's Intermodal freight transport yard, the Yellow Freight Systems' cross-docking trucking center, and Pacific Motor Trucking. Large warehouses for Kohl's, Mattel, Pep Boys, and Stater Bros. have been developed near the San Bernardino International Airport.Over the last few decades, the city's riverfront district along Hospitality Lane has drawn much of the regional economic development away from the historic downtown of the city so that the area now hosts a full complement of office buildings, big-box retailers, restaurants, and hotels situated around the Santa Ana River.[]The closing of Norton Air Force Base in 1994 resulted in the loss of 10,000 military and civilian jobs and sent San Bernardino's economy into a downturn that has been somewhat offset by more recent growth in the intermodal shipping industry. The jobless rate in the region rose to more than 12 percent during the years immediately after the base closing. As of 2007 households within one mile of the city core had a median income of only $20,480, less than half that of the Inland region as a whole. Over 15 percent of San Bernardino residents are unemployed as of 2012, and over 40 percent are on some form of public assistance. According to the US Census, 34.6 percent of residents live below the poverty level, making San Bernardino the poorest city for its population in California, and the second poorest in the US next to Detroit.Amazon.com has built a new 950,000-square-foot (22-acre) fulfillment warehouse on the south side of the airport, scheduled to open in fall of 2012, promising to create 1,000 new jobs, which will make it one of the city's largest employers

 

"

 

View Our Trucking Factoring Companies YouTube Videos For More Information

 

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:

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

 

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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.

 

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

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

 

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

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

 

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.

 

 

"

Weaver Truck & Haul have been operating their business since the mid 1980s. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the heady times from 2002 to 2007, Weaver was a top rated accounts receivable mastermind of the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. The money was flowing, and times were great.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed to a crawl

 

. Worse still, it was noticed by Weaver 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 Weaver, Shane Howard, 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 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. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. They could not afford to pay him their debt, but they could afford a lesser service, maybe. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. They had just gone home.The situation looked dire to Shane Howard. There were goods to ship, employees to pay, trucks to repair and maintain, and continuous overheads that were very extensive when compared to the funds (or lack of) that were incoming. At night he would speak to his wife Yolanda and shake his head in frustration.

 

""I have a bad feeling, Lin,"" he would say with deep woe.""What could you do differently?"" she would say.Shane 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 somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. Why couldn�t he work out how to resolve this financial problem with his business?""I know what it is,"" Shane 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.

 

""Shane 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 Shane strolled into his office and was determined to sit down and make every phone call to every client who had owed Weaver money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Shane knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. A waste of time - a waste of money - he had the best intentions, but all the while Shane was realising just how much trouble he was in.Poor Shane spent the whole morning trying in vain to contact his debtors: they promised to call back, dodged his calls, or made small interest-only payments. He was beginning to feel quite despaired when his secretary knocked on his door.

 

""Can I have a word with you Shane?"" she queried, standing in the doorway.

 

""Sure thing Marcia, come on in."" Shane leaned back in his chair and looked expectantly at Marciaerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Shane."" 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?"" Marciaerley asked.""It sounds vaguely familiar. What is it?"" he said.""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?"" Shane interrupted.""Immediately, yes"" she added, ""In a nutshell, it is pretty easy. We can have an expert account manager review our numbers and help us complete a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It provides a very broad view.""Shane replied cautiously ""I see - and what happens then?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

The company will advise us the cost to purchase factoring for our company's accounts receivable. We come to an agreement and the funding starts pouring out.�Shane leaned forward and reviewed the paperwork closely.""It sounds too good to be true, Marcia,"" he said.""Now, now, I know, I thought the same thing. But think about it, Shane: they've guaranteed that experts will do all the paperwork, and that will free us up to do what we should be doing - focusing on our customers in good standing, and that kind of stuff. And they're flexible Shane,"" she underlined a paragraph on the paper before him.""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. It only takes 2 to 4 days for this to be figured out. ""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. 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,"" Shane said.Shane took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Precisely�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Shane 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 Weaver. 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 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 Marcia, and thankyou."" Marcia stood up and left Shane's office, with the nice feeling of knowing that she may just have solved a very serious problem.Shane sat behind his desk and looked over the details Marcia had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Weaver Truck & Haul with? With his pencil gliding down the sheet he noticed that the factoring company could help fray the cost of fuel with fuel discount cards and fuel advances. In fact, Weaver could receive up to fifty-percent cash advances upon load pick-ups. Shane 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.""Well, I'll have to tell Karl about this,"" muttered Shane to himself.His son-in-law Karl had liked the idea of Weaver 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. Shane knew then what struggles Karl would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Weaver was struggling then the little guys, like Karl, were going to be in even more trouble. But, an antidote may have been found in freight factoring and Shane was soon to find out.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Shane found himself beginning to dig his way out of the hole his delinquent account holders had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They used that time to refocus their efforts in being competitive in new territories. Shane looked back on the dismal months of life before freight factoring and almost shuddered at the thought. If Shane hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

"

San Bernardino is a city located in the Riverside-San Bernardino metropolitan area (sometimes called the ""Inland Empire""). It serves as the county seat of San Bernardino County, California, United States. As one of the Inland Empire's anchor cities, San Bernardino spans 81 square miles (210 km2) on the floor of the San Bernardino Valley, and has a population of 209,924 as of the 2010 census. San Bernardino is the 17th largest city in California, and the 99th largest city in the United States. San Bernardino is home to multiple diplomatic missions for the Inland Empire, being only one of only four California cities with multiple consulates (the three other cities being Los Angeles, San Diego and San Francisco). The governments of Guatemala (opening July 2014) and Mexico have established their consulates in the downtown area of the city.California State University, San Bernardino is located in the northeastern part of the city. The university also hosts the Coussoulis Arena. Other attractions in San Bernardino include ASU Fox Theatre, the McDonald's Museum, which is located on the original site of the world's first McDonald's, California Theatre, the San Bernardino Mountains, and San Manuel Amphitheater, the largest outdoor amphitheater in the United States. In addition, the city is home to the Inland Empire 66ers baseball team, they play their home games at San Manuel Stadium in downtown San Bernardino.In July 2012, San Bernardino became the largest city to that date to choose to file for protection under Chapter 9 of the U.S. Bankruptcy code; this has been superseded by Detroit's filing in July 2013. San Bernardino's case was filed on August 1. San Bernardino is the poorest city of its population size in California, and the second poorest in the US next to Detroit, MichiganGovernment, retail, and service industries dominate the economy of the city of San Bernardino. From 1998 to 2004, San Bernardino's economy grew by 26,217 jobs, a 37% increase, to 97,139. Government was both the largest and the fastest-growing employment sector, reaching close to 20,000 jobs in 2004. Other significant sectors were retail (16,000 jobs) and education (13,200 jobs). The Burlington Northern and Santa Fe Railway intermodal freight transport yard.The city's location close to the Cajon and San Gorgonio passes, and at the junctions of the I-10, I-215, and SR-210 freeways, positions it as an intermodal logistics hub. The city hosts the Burlington Northern and Santa Fe Railway's Intermodal freight transport yard, the Yellow Freight Systems' cross-docking trucking center, and Pacific Motor Trucking. Large warehouses for Kohl's, Mattel, Pep Boys, and Stater Bros. have been developed near the San Bernardino International Airport.Over the last few decades, the city's riverfront district along Hospitality Lane has drawn much of the regional economic development away from the historic downtown of the city so that the area now hosts a full complement of office buildings, big-box retailers, restaurants, and hotels situated around the Santa Ana River.[]The closing of Norton Air Force Base in 1994 resulted in the loss of 10,000 military and civilian jobs and sent San Bernardino's economy into a downturn that has been somewhat offset by more recent growth in the intermodal shipping industry. The jobless rate in the region rose to more than 12 percent during the years immediately after the base closing. As of 2007 households within one mile of the city core had a median income of only $20,480, less than half that of the Inland region as a whole. Over 15 percent of San Bernardino residents are unemployed as of 2012, and over 40 percent are on some form of public assistance. According to the US Census, 34.6 percent of residents live below the poverty level, making San Bernardino the poorest city for its population in California, and the second poorest in the US next to Detroit.Amazon.com has built a new 950,000-square-foot (22-acre) fulfillment warehouse on the south side of the airport, scheduled to open in fall of 2012, promising to create 1,000 new jobs, which will make it one of the city's largest employers

 

"

 

More Trucking Factoring Companies Story Articles

"

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

 

More than forty years ago Cecil's father had started this business working as an owner-operator and eventually growing Johnston Trucking Company into a fifteen trailer fleet. Yes, they had survived some very difficult times when it appeared like they might go under, and even Cecil's mother had jumped into the cab at times to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. Now the company was solely in Cecil�s hands and he wanted to live to see it in better shape for his sons.

 

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

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Cecil allowed himself a good hard chuckle. His father had been against placing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). 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.

 

Cecil knew he was right in his forward thinking. How would he take Johnston Trucking to the next level? More importantly, how could he afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. 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 like a ninth grade math problem and he wondered how this would fit into the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without 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.

 

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

 

However, it all turned out to be very simple. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He was quite happy to sign an exclusive contract. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. 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. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It was good money.

 

For Cecil it was quite a relief to be dealing with the factoring company. 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 Cecil 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 Johnston 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, Cecil stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. He suddenly realized that, with this new cash flow, he could actually expand Johnston Trucking Company and who knows, move into Canada, which had always been his dream. His heart felt full knowing his sons wouldn�t have to worry about money because of the right decisions he had made for their trucking business.

 

"

 

 

View Our Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� Barry Green asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Barry smiled at him, shaking her head.�No, not exactly,� she stated.Barry 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 Eddie. His company was called Austin Trucking, named after both of his grandfathers, Lewis and Bob. Both of these men had been very hardworking and had set a great example for Eddie.Six months ago disaster struck Eddie'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. Barry depended on his full fleet, and missing two trucks was devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.A big problem a lot of trucking companies came across was how bills were paid in the industry. You could go a month or more before bills were completely paid off. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Barry 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.And that's why he found himself across the desk from this woman. Barry knew she was employed by a Factoring company and that her name was Loretta. 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. That way we�re protected from a complete loss, but you�re protected from the outrageous fees you would find in a loan from the bank.Barry nodded. It sounded perfect - perhaps too good?.Loretta laughed. �I'm not sure that you believe me,� she said.�No, I do, I just think it sounds a bit too good to be true. I actually thought I might end up losing my business.�Loretta smiled, agreeing. �We get that a lot. There's no way we want to see you lose your business. We know how hard you work, and that you've invested everything in your business. Sometimes you need help. That�s what we�re here for.""Well, I'm very grateful that you came to see me today.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� Loretta said with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.

 

Barry filled the form out, with Loretta available to help him if he needed it. The profile filled Loretta and her company in on Eddie�s company, and would help them determine if he was suitable for factoring. Unfortunately, not all companies are. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. Listening as Barry filled out his form, Loretta was pretty sure he was a perfect candidate for factoring.When the form was done Loretta took it and slid it into her briefcase. Standing up, she reached over the desk and shook Eddie's hand. He also stood up, and they smiled at each other. They said their goodbyes and Barry walked her to the door, and then returned to his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He shut his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. But now, after speaking to Loretta and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.The long nights, where he couldn�t sleep. The sudden panic attacks, not matter where he was. Already he could feel all the stress start to drain away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was there, he was on the right path, and he was working to make things right.His mind wandered back to the very beginning, when he first started his business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been successful. Offering home cooking in his own hometown, his business had really prospered.But it wasn't what he really wanted to do. He wasn't passionate about the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took six months off, and during that time he decided to create Austin 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.And then the trucks went down, and his success looked to be in flux. He was nearing fifty. He didn�t think he had it in him, to save this company. But giving up wasn't part of his personality either.

 

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

 

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More Trucking Factoring Company Story Articles

The reason why Truck Establishments Make use of Factoring Firms.

 

As the operator of your own company, you may likely be much more than knowledgeable already of the difficulty in making sure that capital issues do not become a predicament down the line. After all, the toughest thing that can in all probability come about for your firm is to find yourself involved in a long and hard situation that leaves you forever looking for the resources you really need on an on-going manner.

 

For pretty much any enterprise in this predicament, the trouble can come for waiting for work to clear up and actually be compensated into your bank account. Invoices, checks, and the like can take some time to actually to beprocessed which could leave you with temporary capital troubles. Luckily, there are approaches out there for establishments to investigate-- and among these is factoring firms.

 

Factoring firms will, in trade for your bill of sales, grant you with the cash right away so you do not need to fret about the lingering time frame that could make paying the expenses and getting materialsmore complicated. With this type of arrangement, invoice factoring can end up being tremendously valuable for various businesses who have to get out of a money lure which they have gotten themselves in.

 

Due to the fact that, relying on the scale of the work, it can take up to 60 days for several companies to get paid out then it is significant to cover your own back and definitely not leave yourself resources short to pay off the monthly bills. After all, how many firms possess two months earnings just lying there to address all their expenditures until they make money?

 

This is especially true of trucking firms. They have the tendency to manage lots of accounts which means a considerable quantity of collection time concerns business owner themselves. Striving to get paid off promptly can become an extraordinary trouble and this is the key reasons why you employ truck factoring companies who are pleased to help out truckers primarily.

 

As all of us determine, trucking is an incredibly big market with countless agencies out there handling hundreds of operators. Regrettably, many of these drivers land up in money difficulties simply because they are still waiting for work from six weeks earlier to actually pay them. When this is the circumstance for a trucking business, consulting factoring firms for solutions maybe the ideal choice left.

 

This means that a truck company can pay off the wages of the work force, keep all the cars refilled with gas and continue to surmount, develop and expand without continually waiting for the cash which is taking too lengthy to come in. Trucking Businesses working without a factoring program used are leaving themselves at critical risk, as competitors cash out quickly and go on to grow.

 

There's absolutely very little to be worried about when it comes to employing a Factoring agency-- they are not like a banking company or an individual who is going to leave you with a significant stockpile of financial debt to pay back. You give them legitimate invoices from job you have already completed , you are only speeding the payment system.

 

In the United states of America, where truck agencies thrive, factoring providers are not considered getting a loan in any capacity. This private arrangement then allows both parties to benefit and experience a convenient future-- it provides the factoring agency a guaranteed resource of cash flow to put into the list and it furnishes the trucking company the needed cash that they sweated to obtain.

 

The trucking company gives their invoices to the factoring company. The trucking factoring company then collect the payment amounts from the trucking company's customers. Factoring has been all around for hundreds of years and has been adopted for decades by lots of varying markets-- but none more so than truckers. While you could lose out on a small part of the money, something like 1-3 % depending upon who you work with, it signifies that you are getting the funds today and can actually begin setting the money to perform.

 

After all, an IOU or an invoice is not going to finance overheads, is it? For trucking establishments when the hard earned cash can be excellent one day and gone the next, it is up to the drivers to work prudently and to make sure they are leaving themselves with a notable quantity of time and money to get through the week until they are compensated once more.

 

So the next occasion your trucking company is having some momentary cash flow issues and you are putting in an excessive amount of time chasing inactive paying customers, why not begin thinking about employing a factoring businesses as a manner to get your money and give yourself a more pleasant future in the eyes of your trucking workers and your bank balance?

 

 

 

 

 

 

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Bank Loans

 

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

 

Trucking Factoring Companies

 

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

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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

 

1. There is no 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. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

2. No Collateral Required. Another 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. 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. 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.

 

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

 

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Factoring Companies by City

New York City

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Austin


Jacksonville


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Charlotte


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Boston


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Portland


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Colorado Springs


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Newark

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Jersey

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Gilbert town

San Bernardino

Boise

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Rochester

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