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Receivables Mysteriously Disappear from the Books - Our Trucking Factoring Company Can Provide
Your Trucking Company The Cash You Want

smallbusinessfactoring.org

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trucking invoice factoring companies

Medium-Size trucking businesses, specifically those who have not been in existence for really long, will frequently discover it challenging to protect a loan. Banks are often hesitant to lend money to businesses that do not have a lot of income and assets. They also want proof of the practicality of a company and therefore require that most operations, specifically little ones, been around for a certain amount of time prior to they are eager to hand over any money. Due to the fact that of this, a medium-size business commonly has few money producing options when requires develop. One alternative available, but typically ignored, is factoring. This is an outstanding means for a medium-size company to obtain money.

 

 

 

 

 

 

 

The Secrets of Making People Like You Get - Pick A Receivable Loan C0mpany Instead Of A Typical Bank Financing

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

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

Cash flow does not have to be a problem any ever more. Do not be fooled -- banks are not the only locations you can get financing. Other options are offered and you do not have to borrow money. Exactly what is trucking factoring ? One solution is called truck factoring. Truck Factoring is the procedure of selling accounts receivable to a financier instead of waiting to gather the money from the client. Oh, the Irony- Trucking factoring has an ironic difference: It is the monetary backbone of numerous of America's most successful companies. Why is this paradoxical ? Since invoice factoring is not instructed in business colleges, is rarely discussed in company strategies and is relatively unknown to bulk of most of American company individuals.

Yet it is a monetary procedure that frees billions of dollars every year, allowing thousands of companies to grow and prosper. Factoring has actually been around for countless years. Receivable Funding Companies are financiers who pay money for the right to receive 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 offers solely with business-to-business deals, a big percentage of the retail company utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a type of factoring in their retail deals. Utilizing the purest definition of the word, these large customer finance business are truly simply large FACTORING Businesses of customer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The store makes money practically instantly, even though you do not make payment until you are ready.

For this service, the charge card company charges Sears a fee (typical common normal fees range from 2 to 4 percent of the sale). The Benefits Staffing Factoring can offer numerous advantages to cash-hungry companies. Instead of waiting 30, 60, 90 days or longer for payment on a product that has actually already been delivered, a company can factor (sell) its receivables for money at a little discount off the amount of the invoice. Payroll, advertising efforts, and working capital are simply a few of the company requirements that can be satisfied with instant  money.

Receivable Funding offers the means for a producer to replenish stock and make more products to offer: There is no longer a need to await for earlier sales to be paid. Receivable Loan Financing is not just a cash management device for manufacturers: Practically any kind business can take advantage of Commercial Factoring. Typically, a business that extends credit will have 10 to 20 percent of its annual sales tied up in accounts receivable at any given time. Think for a moment about how much is tied up in 60 days' worth of invoices: You can not pay the power expense or today s payroll with a customer s invoice, however you can sell that invoice for the cash to meet those obligations. Using truck factoring companies is a quick and simple process. The factor purchases the invoice at a price cut, typically a couple of portion points less than the face value of the invoice.

 

 

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The American Transportation Organization
specifies that there around
195,000 truck drivers with transportation
firms and
250,000 personal providers trucking
firms accredited to
run in America that carried,
according to their latest searchings for billions of
products, materials and
standard materials .
There are numerous usual
carriers either going solo or in
groups on our nation
roadways transferring these
vital items to our
shops, manufacturing facilities and shipping ports.

Also trucking factoring
corporations service
countless of them and offer their
receivables financing 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

 

Long Beach is the seventh-largest city in California and is situated on San Pedro Bay, south of Los Angeles, in Los Angeles County.The town was laid out and settled in 1881 by developer W. E. Willmore, who sold lots on the site as a seaside resort community called Willmore City. It was renamed Long Beach for its 81/2-mile beach in 1884. The city was incorporated in 1888 and reincorporated in 1897.Long Beach is a major industrial port, ranked second-busiest in the U.S. and tenth-busiest in the world. In addition to international trade through the port, high technology has also been an important economic engine for the Long Beach area. Major technology and aerospace corporations such as Gulfstream, Boeing, and Laserfiche have large facilities in Long Beach. Boeing continues to be a top employer, with over 7,100 employees.Tourism is also important to the economy. Major attractions are the RMS Queen Mary, the Aquarium of the Pacific, whale watching tours, and water sports.Long Beach is a city in Los Angeles County in Southern California, on the Pacific coast of the United States. The city is the 36th-largest city in the United States and the seventh-largest in California. As of 2010, its population was 462,257. In addition, Long Beach is the second largest city within Greater Los Angeles Area, after Los Angeles, and a principal city of the Los Angeles-Long Beach-Santa Ana metropolitan area.The city is a dominant maritime center of the United States. The Port of Long Beach is the United States' second busiest container port and one of the world's largest shipping ports. The city also maintains a large oil industry with wells located both underground and offshore. Manufacturing sectors include those in aircraft, car parts, electronic and audiovisual equipment, and home furnishings.though the two cities border each other for several miles on Long Beach's southwestern portion. Long Beach borders Orange County on its southeast edge

 

 

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

 

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.

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

 

Click below to find Trucking Companies in the United States:

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

Click below to find Trucking Companies in the United States:

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

Click below to find Trucking Companies in the United States:

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

 

"

Since the mid 1980s Fox Truck & Haul have been successfully running their freight business. 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 boom times from 2002 to 2007 Fox Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. 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. And worse yet, Fox had noticed during the early part of 2008 that though the bulk of their clients were always on time with payments, the few late-bloomers there were, had seemingly started to spread this illness. Spring changed to summer, summer changed to fall, and the CEO of Fox, Roberto Green, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The number of clients who were late in their payments was continuing to grow.He had gone to his administrators and asked them what the problem had been. Were they doing something wrong or different when it came to reaching out to delinquent accounts? By his bookkeepers records, this wasn't the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. They had just gone home.This current state-of-affairs was causing Roberto Green to have some very restless nights. Roberto was very concerned, because there were constant overheads, goods to ship, employees to pay, and trucks which needed to be maintained, but there just wasn't the money coming back into the business. At night he would speak to his wife Holly 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.Roberto would stare off for a moment and then close eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them on the road, delivering good to all his loyal customers. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. Why couldn�t he work out how to resolve this financial problem with his business?""I think I know what it could be,"" said Roberto. ""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.

 

""Roberto 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 Roberto strolled into his office and was determined to sit down and make every phone call to every client who had owed Fox money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Roberto 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. Wasting money, wasting time - even with the best of intentions, Roberto 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 Juneerley knocked at his door.

 

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

 

""Of course June, please come in."" Roberto relaxed back into his chair and looked up at Juneerley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Roberto."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard the word factoring?"" she asked.""It sounds vaguely familiar. What is factoring""? he asked.""Well,"" she began, ""It�s actually quite simple really.

 

So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Immediately?"" Roberto interrupted.""Yes, immediately,"" she continued, ""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. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It�s a broad view.""I see,� Roberto 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. We come to an agreement and the funding starts pouring out.�Leaning forward, Roberto studied the documents very closely.""I do not know, June - it just sounds too good to be true"", Roberto said quietly.""Now, now, I know, I thought the same thing. But think about it, Roberto: 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 Roberto,"" she underlined a paragraph on the paper before him.""How flexible?"" asked Roberto.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. Apparently they can figure this all out in two to four days.

 

""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 Roberto.Roberto took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Roberto took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Fox Truck & Haul were professional resources of the company, but they were also long-standing friends. Just because they were experiencing difficulties paying their own bills now, Roberto was very concerned about losing these relationships. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. He did not want to lose business but he also did not want to lose any more money.""Well, let me think about this tonight June, thank you."" June stood up and left Roberto's office, with the nice feeling of knowing that she may just have solved a very serious problem.Roberto stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. What other issues could freight factoring help Fox 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. Roberto was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Roberto was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""I must tell Frank the good news,"" muttered Roberto to himself.His son-in-law Frank had liked the idea of Fox so much and revered his father in law for having such business acumen that only two years before, he had gathered the venture capital to begin his own transportation service company. At that time Roberto knew the struggles Frank would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Fox was hurting, a little guy like Frank was about to catch his death. Perhaps the antidote to these problems was in freight factoring, and they were about to find out.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Roberto was beginning to find his way out of the hole his debtors had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They used that time to refocus their efforts in being competitive in new territories. Roberto looked back on the dismal months of life before freight factoring and almost shuddered at the thought. If Roberto hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

Long Beach is the seventh-largest city in California and is situated on San Pedro Bay, south of Los Angeles, in Los Angeles County.The town was laid out and settled in 1881 by developer W. E. Willmore, who sold lots on the site as a seaside resort community called Willmore City. It was renamed Long Beach for its 81/2-mile beach in 1884. The city was incorporated in 1888 and reincorporated in 1897.Long Beach is a major industrial port, ranked second-busiest in the U.S. and tenth-busiest in the world. In addition to international trade through the port, high technology has also been an important economic engine for the Long Beach area. Major technology and aerospace corporations such as Gulfstream, Boeing, and Laserfiche have large facilities in Long Beach. Boeing continues to be a top employer, with over 7,100 employees.Tourism is also important to the economy. Major attractions are the RMS Queen Mary, the Aquarium of the Pacific, whale watching tours, and water sports.Long Beach is a city in Los Angeles County in Southern California, on the Pacific coast of the United States. The city is the 36th-largest city in the United States and the seventh-largest in California. As of 2010, its population was 462,257. In addition, Long Beach is the second largest city within Greater Los Angeles Area, after Los Angeles, and a principal city of the Los Angeles-Long Beach-Santa Ana metropolitan area.The city is a dominant maritime center of the United States. The Port of Long Beach is the United States' second busiest container port and one of the world's largest shipping ports. The city also maintains a large oil industry with wells located both underground and offshore. Manufacturing sectors include those in aircraft, car parts, electronic and audiovisual equipment, and home furnishings.though the two cities border each other for several miles on Long Beach's southwestern portion. Long Beach borders Orange County on its southeast edge

 

 

More Trucking Factoring Companies Story Articles

"

The Future of a Trucking Company, and Factoring The phone was ringing on his desk, and Danny Myers just sat there letting it ring. 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. Myers Trucking Company was at a turning point of growth and Danny had to decide if signing with a factoring company was the right way forward.

 

Danny�s father had started as an owner-operator and had grown Myers Trucking Company into a fifteen trailer fleet over forty years. Yes, they had survived some very difficult times when it appeared like they might go under, and even Danny's mother had jumped into the cab at times to make hauls. His father had worked long enough to see the price of hires drop dramatically during the recession and to see the explosion of fuel prices afterwards. Now the company was solely in Danny�s hands and he wanted to live to see it in better shape for his sons.

 

There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. He had employees to pay. They all have families and the usual household bills. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. Every time he had to turn down a request, Myers 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. Danny chuckled, thinking about his father. He remembered when his father was totally against installing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. His father days were long gone and technology was actually an important improvement for the business such as having Qualcomm to cut down on fruitless time communicating on the phone for bills of lading.

 

Danny knew he was right in his forward thinking. How would he take Myers 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.

 

But was factoring the answer? 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. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Now it was time for Danny to do his homework. 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. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

But it turned out to be quite easy. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He 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. 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 sounded like a great scheme to him.

 

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 didn�t worry over his credit and the debt troubles his father had had in the past of the company. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Danny because he and his father had created a very strong and loyal list of clientele over the years. So he knew they would understand when the factoring company contacted them for the invoices. His clients wouldn�t think poorly of Myers Trucking and the factoring companies appeared capable of handling the accounts receivable in the same polite manner that his father had used over the years.

 

Danny stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. With the capabilities of this new cash flow, Danny could actually expand Myers Trucking Company further across the country and perhaps even go international into Canada. His heart felt full knowing his sons wouldn�t have to worry about money because of the right decisions he had made for their trucking business.

 

"

 

 

Watch Our Trucking Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� Patrick Hughes asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Patrick smiled at him, shaking her head.�Not quite,� she stated.Patrick Hughes owned a small trucking company, and his business had recently fallen on difficult times. Trucking could be a profitable business, and for a little under a decade, it had been for Francisco. His company was called Payne Trucking, named after both of his grandfathers, Albert and Miguel. They had both been hardworking men, and had done a lot to make Patrick the same.Disaster had struck half a year ago, when two trucks in Francisco�s fifteen truck fleet went down. One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. The financial security of Francisco's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Patrick had on hand.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

Waiting a month or longer for bills to be paid was quite normal. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Patrick was an excellent business man, and he certainly hadn't done anything wrong. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.That�s where the woman across the desk came in. Patrick knew she was employed by a Factoring company and that her name was Sally. 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.Patrick nodded. It sounded good to him, almost too good.The woman laughed. �I'm not sure that you believe me,� she chuckled.�No, I do, I just think it sounds a bit too good to be true. I thought I was going to lose my company.�Sally nodded. �Yes, we get a lot of that. Listen, I�d hate to see you lose your company. You work hard, you�ve put everything you can into it. Sometimes you need help. That's why we do what we do.""In any case, thank you for coming to see me.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� said Sally with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Patrick filled the form out, with Sally available to help him if he needed it. The profile filled Sally and her company in on Francisco�s company, and would help them determine if he was suitable for factoring. In truth, not all companies were. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. As Patrick completed his form, Sally listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Sally took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Francisco's hand. He stood before they shook as well, and then smiled. They said their goodbyes and Patrick 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. Talking to Sally though, learning about factoring, it felt like a weight had been lifted from his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.The long nights, where he couldn�t sleep. The terrifying panic attacks that occurred regardless of 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 still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.Patrick 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 Payne Trucking. And that's exactly what he did. Once again he built 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 about to turn fifty. He didn�t think he had it in him, to save this company. But giving up wasn't part of his personality either.

 

Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He didn�t know how to say quit.And now, because of factoring, he was sure he wouldn�t have to. Patrick opened his eyes, sat forward, turned his computer on. He had lots to do. He could be thankful later, for now, it was time to work.

 

"

 

 

 

More Trucking Factoring Company Story Articles

Reasons why Truck Corporations Work with Factoring Firms.

 

As the operator of your own establishment, you may likely be more than wary already of the challenge in making certain that capital issues do not become a predicament down the line. After all, the most unfortunate thing that can quite possibly develop for your company is to find yourself embroiled in a long and difficult situation that leaves you forever looking for the resources you require on an continual manner.

 

For any kind of business in this case, the problem can come for waiting for work to clear up and actually be provided into your statement. Invoices, checks, and the like could take some time to actually to beprocessed which can easily leave you with momentary available resources dilemmas. Fortunately, there are approaches out there for enterprises to explore-- and just one of these is factoring companies.

 

Factoring agencies will, in trade for your statements, give you with the finances right now to ensure that you do not need to worry about the lingering time span which could make paying the bills and getting materialsmore challenging. With this type of setup, invoice factoring can end up being extraordinarily useful for numerous establishments who ought to get out of a cash pitfall 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 a number of business enterprises to get paid then it is vital to blanket your own back and not leave yourself cash short to pay off the costs. After all, how many firms have two months cash flow just lying there to handle all their expenditures until they get paid?

 

This is primarily true of trucking enterprises. They generally take care of tons of invoices which means a huge volume of collection time demands business owner themselves. Seeking to get paid out in time can become an incredible hassle and this is precisely why you make use of trucking factoring companies who are happy to help out truckers particularly.

 

As we all know, trucking is an remarkably large business with many firms out there hiring hundreds of vehicle drivers. The sad thing is, several of these drivers end up in income predicaments for the reason that they are still waiting for work from six weeks in the past to actually pay them. When this is the condition for a truck organization, depending on factoring companies for reinforcement may be the most recommended option left.

 

This indicates that a truck organization can pay off the paychecks of the workers, keep all the cars refilled with fuel and continue to escalate, evolve and expand without continually waiting for the funds which is taking too long to come in. Trucking Companies functioning without a factoring program used are leaving themselves at substantial risk, as rivals cash out fast and go on to grow.

 

There's absolutely almost nothing to be troubled about when it comes to employing a Factoring establishment-- they are not like a banking company or any individual who is going to leave you with a large pile of personal debt to pay back. You give them legitimate invoices from job you have already accomplished , you are just speeding the payment process.

 

In the United states of America, where truck firms prosper, factoring establishments are not considered accepting loan of in any capacity. This private contract then permits both parties to profit and take joy in a comfortable future-- it gives the factoring agency a guaranteed asset of income to put into the list and it furnishes the trucking business the required funds that they worked hard to obtain.

 

The trucking firm provides their accounts to the factoring company. The trucking factoring provider then take the installment payments from the trucking company's customers. Factoring has beenaround for hundreds of years and has been employed for decades by many varying business sectors-- but none much more so than truckers. While you could lose out on a small part of the money, something like 1-3 % depending upon who you collaborate with, it signifies that you are acquiring the money today and can actually start off setting the resources to function.

 

Anyway, an IOU or an invoice is not going to cover overheads, is it? For trucking establishments when the funds can be good one day and gone the next, it is up to the drivers to work prudently and to guarantee they are leaving themselves with a significant quantity of time and finance to get through the week until they are compensated again.

 

So the next period your trucking business is enduring some temporary capital dilemmas and you are spending excessive time chasing slowly paying clienteles, why not begin looking into making use of a factoring companies as a means to get your finances and give yourself a more at ease future in the eyes of your trucking staff and your bank balance?

 

 

 

 

 

 

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Bank Loans

 

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

 

Trucking Factoring Companies

 

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

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

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

 

3. Receive Your Money Faster. Using a Trucking Factoring company means that you'll get the finance quicker. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. 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 not only are you relieved of those monthly loan payments, but you also do not have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. 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 main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

In addition, since the Trucking Factoring company evaluates the credit quality of your customers prior to purchasing the accounts receivable you gain valuable information into which customers are likely to pay and which ones are not so likely to pay.While a Trucking Factoring company is not the only way for your business to obtain the money it needs to keep growing, it does offer a type of financing well worth considering.

 

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Factoring Companies by City

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