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I liked this product so much - that I - Our Receivable Factoring Company Can Give
Your Truck Company The Cash Your Company Needs

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Trucking Factoring is advantageous for a number of reasons. It enables a trucking business to raise cash without obtaining brand-new debt. While debt is in some cases essential, a lot of freight brokerage would choose to raise money without borrowing cash. Financial obligation is high-risk, and when it cannot be repaid, possessions can be repossessed. If the financial obligation is large enough, it could even force a truck businesses out of business.

 

 

 

 

 

 

 

For The Business Who Wants To Look Better - Select A Freight�Brokerage Factoring Company  Instead Of A Regular Bank Funding

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

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

Cash flow does not have to be a problem any more. Do not be deceived -- banks are not the only places you can get financing. Other solutions are offered and you do not have to borrow money. What is truck factoring ? One solution is called trucking factoring. Trucking Factoring is the process of selling accounts receivable to an investor rather than waiting to gather the cash from the customer. Oh, the Irony- Truck factoring has an ironic difference: It is the financial foundation of numerous of America's most effective companies. Why is this paradoxical ? Because factoring is not instructed in business colleges, is rarely discussed in business strategies and is fairly unknown to the majority of most of American business individuals.

Yet it is a monetary procedure that frees billions of dollars every year, allowing thousands of businesses to grow and prosper. Trucking Factoring has actually been around for thousands of years. Accounts Receivable Factoring Businesses are financiers who pay cash for the right to receive the future payments on your invoices. An overdue receivable or invoice has value. It is a debt your customer has agreed pay in the near future. Factoring Principals--Although factoring offers solely with business-to-business transactions, a big portion of the retail company uses a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail deals. Utilizing the purest meaning of the word, these large customer finance companies are really simply big Accounts Receivable Factoring Businesses of consumer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The shop gets paid almost immediately, although you do not make payment until you are ready.

For this service, the credit card business charges Sears a charge (typical common normal charges range from 2 to four percent of the sale). The Advantages Invoice Factoring can provide numerous benefits to cash-hungry companies. Rather than wait 30, 60, 90 days or longer for payment on an item that has already been delivered, a company can factor (sell) its receivables for cash at a little discount off the dollar value of the invoice. Payroll, marketing efforts, and working capital are just a few of the company needs that can be met with instant  money.

Invoice Factoring offers the means for a producer to replenish stock and make more items to offer: There is no longer a requirement to wait for earlier sales to be paid. FACTORING is not simply a cash management device for manufacturers: Almost any type business can take advantage of Accounts Receivable Factoring. Typically, a business that extends credit will have 10 to 20 percent of its yearly sales bound in invoices at any given time. Think for a minute about exactly how much is bound in 60 days' worth of invoices: You can not pay the power expense or this week s payroll with a client s invoice, however you can sell that invoice for the money to meet those obligations. Using truck factoring companies is a fast and simple procedure. The factoring company purchases the invoice at a discount, usually a few portion points less than the face value of the invoice.

 

 

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The American Trucking Association
mentions that there around
205,000 workers with transportation
companies and
250,000 personal providers trucking
firms accredited to
run in the U.S. that transported,
according to their latest listings of millions of
items, materials and
basic products .
There are a number of typical
providers either going solo or in
groups on our nation
roads carrying these
vital products to our
shops, factories and ports.

Furthermore freight factoring
corporations service
numerous of them and offer their
receivable loan services
countrywidecomprising
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

 

The fourth largest city in the nation and the largest in the entire South and Southwest, Houston is a port of entry; a great industrial, commercial, and financial hub; one of the world's major oil centers; and the second busiest tonnage-handling port in the United States (after New York). Houston has numerous space and science research firms; electronics plants; giant oil refineries; high-tech and computer-technology industries; one of the world's greatest concentrations of petrochemical works; steel and paper mills; shipyards; breweries; meatpacking houses; and factories manufacturing oil-drilling equipment, clothing, glass, and seismic instruments. More recently, Houston has become a major center of finance with a large number of banks, many of them foreign. The Medical Center is the world's largest hospital complex and a leading medical research facility. Houston is served by two international airports and Ellington Field, a joint use civil and military airport. Cruise ships began sailing from the port in 1997. Because of its proximity to the Gulf of Mexico, the city is subject to hurricanes.

 

 

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

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.

 

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 Diaz Truck & Haul have been successfully running their freight business. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the heady times from 2002 to 2007, Diaz 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.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed down. And worse yet, Diaz 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. And as spring turmed to summer and summer into the early days of fall, Jimmy Harper, CEO of Diaz felt a chill go down his spine whenever he would look at the weekly A/R reports. The numbers of clients who owed him back debt were growing.He had already been to the administrators to ask what the actual problem was. Were they doing things different, or wrong, when it came to collecting overdue accounts? 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. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Diaz hadn't gone elsewhere. They had just gone home.To Jimmy Harper the situation looked desperate. 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. After work he would confide in his wife, Emily, and neither were unable to stop the constant worry over the lack of funds.""Lin, I have a really bad feeling,"" he would say with deep woe.""Well, what do you think it is?"" she would say.Jimmy 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 traveling, bringing goods to all of his clients. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What on earth was happening to create the death of his business?""I know what it is,"" Jimmy said. ""I've relied too long on the profits I receive from invoices alone. For too long I've been allowing our clients to let their accounts become overdue."" Linda could only grab her husband's hand and look at him lovingly, ""it is a hard economy. It might be awhile until things get settled up.

 

""Jimmy knew very well that Emily was only trying to help, but his responsibilities weighed heavily on his shoulders and he knew he had better do something soon to resolve this situation.The following day Jimmy walked into his office with a spring in his step, determined to call each and every client who owed money to Diaz Truck & Haul. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. A waste of time - a waste of money - he had the best intentions, but all the while Jimmy was realising just how much trouble he was in.After a half day of contacting debtors in vain - they dodged his calls or promised to call back at worst or made minimal interest-only payments at best - he was about to throw in the towel when his secretary Roseerley knocked at his door.

 

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

 

""Of course Rose, please come in."" Jimmy leaned back in his chair and looked expectantly at Roseerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Jimmy."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard of factoring?"" she asked.""It does sound vaguely familiar. What is it?"" he said.She began, ""Well, it is really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Jimmy interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""In a nutshell, it is pretty easy. We start by having a professional account manager review our figures and help us set up a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.""Jimmy 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.�Jimmy was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Rose,"" he said.""Now, now, I know, I thought the same thing. But think about it, Jimmy: they've guaranteed that experts will do all the paperwork, and that will free us up to do what we should be doing - focusing on our customers in good standing, and that kind of stuff. They appear to be very flexible, Jimmy,"" she underlined a paragraph on the paper before him.""How flexible?"" he asked.""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,"" Jimmy said.Jimmy 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.""Jimmy thought about this and agreed with Roseerley. The customers who were in debt to Diaz Truck & Haul were professional resources of the company, but they were also long-standing friends. Jimmy wasn't prepared to lose these relationships just because they were having financial issues at the moment. Jimmy knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. That unknown amount of time, 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.""Let me go over this tonight Rose, and thankyou."" Rose nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Jimmy sat behind his desk and looked over the details Rose had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Diaz Truck & Haul with? Running his pencil down the sheet, he noted that the freight factoring company could assist with fuel costs, fuel advances, and fuel discount cards. In fact, Diaz could receive up to fifty-percent cash advances upon load pick-ups. Jimmy 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 Oscar the good news,"" muttered Jimmy to himself.His son-in-law Oscar had liked the idea of Diaz 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. Jimmy knew then what struggles Oscar would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Diaz was struggling then the little guys, like Oscar, were going to be in even more trouble. But, maybe the answer for both of them was in freight factoring, and Jimmy was going to find out very soon.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Jimmy 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. Jimmy recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. If Jimmy hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

The fourth largest city in the nation and the largest in the entire South and Southwest, Houston is a port of entry; a great industrial, commercial, and financial hub; one of the world's major oil centers; and the second busiest tonnage-handling port in the United States (after New York). Houston has numerous space and science research firms; electronics plants; giant oil refineries; high-tech and computer-technology industries; one of the world's greatest concentrations of petrochemical works; steel and paper mills; shipyards; breweries; meatpacking houses; and factories manufacturing oil-drilling equipment, clothing, glass, and seismic instruments. More recently, Houston has become a major center of finance with a large number of banks, many of them foreign. The Medical Center is the world's largest hospital complex and a leading medical research facility. Houston is served by two international airports and Ellington Field, a joint use civil and military airport. Cruise ships began sailing from the port in 1997. Because of its proximity to the Gulf of Mexico, the city is subject to hurricanes.

 

 

More Trucking Factoring Companies Story Articles

"

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

 

More than forty years ago Clarence's father had started this business working as an owner-operator and eventually growing Foster 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 Clarence'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 Clarence�s hands and he wanted to live to see it in better shape for his sons.

 

To move Foster Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. His employees needed to be paid. They had families and household bills too. 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. He knew that turning down these requests made Foster Trucking look inefficient and weak in what was currently a strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Clarence 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). 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.

 

Clarence believed a successful man is always thinking of his next step. How would he take Foster Trucking to the next level? And how would he be able to afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

He wondered about factoring - was this the answer for him? If he was being honest, he did not really understand how it all worked. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. 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 this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Now it was time for Clarence 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. 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! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

However, it all turned out to be very simple. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He didn�t mind signing an exclusive contract. 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. He was more than happy with the figures he was offered in percentage terms on the freight bills. It was good money.

 

It was really refreshing dealing with the factoring people. They were extremely helpful and more personable than the bank staff. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies didn�t worry over his credit and the debt troubles his father had had in the past of the company. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Clarence because he and his father had created a very strong and loyal list of clientele over the years. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients would not have any problems, nor would they think poorly of Foster 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.

 

Clarence stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. With the capabilities of this new cash flow, Clarence could actually expand Foster Trucking Company further across the country and perhaps even go international into Canada. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

"

 

 

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Trucking Factoring  Articles

"

�So, this is not a loan?� Travis Ramos asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Travis smiled at him, shaking her head.�Not quite,� she stated.Travis 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 Willie. He named his business Hall Trucking, named after Rick and Julio, his two grandfathers. They had both been hardworking men, and had done a lot to make Travis the same.Disaster had struck half a year ago, when two trucks in Willie�s fifteen truck fleet went down. One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. Travis 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.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.Travis wasn�t a bad owner, and he hadn�t messed up. 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. Travis knew she was employed by a Factoring company and that her name was Brittany. Travis had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.She sat there now, and explained. �it is really not a loan at all: we actually buy your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. This is a win-win situation: we are protected from a total loss, and you're protected from the ridiculous fees and charges you'd have to pay if you borrowed from a bank.Travis agreed. It sounded perfect - perhaps too good?.Brittany laughed. �You look like you don�t believe me,� she said.�No, I do, I just think it sounds a bit too good to be true. I thought I was going to lose my company.�Brittany smiled, agreeing. �Yes, we get a lot of that. There's no way we want to see you lose your business. You work hard, you�ve put everything you can into it. Sometimes you need help. That�s what we�re here for.""Well, I'm very grateful that you came to see me today.""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 Brittany with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.

 

Travis filled the form out, with Brittany available to help him if he needed it. The profile filled Brittany and her company in on Willie�s company, and would help them determine if he was suitable for factoring. Unfortunately, not all companies are. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. Listening as Travis filled out his form, Brittany was pretty sure he was a perfect candidate for factoring.When the form was done Brittany took it and slid it into her briefcase. She then stood, reached across the desk and shook Willie�s hand. He stood before they shook as well, and then smiled. They said their goodbyes and Travis walked her to the door, and then returned to his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He shut his eyes. He 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 Brittany and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.All those long, sleepless nights. The terrifying panic attacks that occurred regardless of where he was. 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.Travis couldn�t help but think back to when he had first started the business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been successful. Home cooking in his hometown, and he had done very well.But he had gotten bored. His passion didn�t lie with the food industry. He thought long and hard, and then he decided to sell the restaurant. He took six months off, and during that time he decided to create Hall Trucking. And that's exactly what he did. 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 he couldn�t give up. Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He did not want to quit - both for himself and for his staff members.And now it seemed as though he would not have to - all because of Factoring. Travis opened his eyes, sat forward, turned his computer on. He had things to do. He could be thankful later, for now, it was time to work.

 

"

 

 

 

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The reason why Trucking Establishments Employ Factoring Companies.

 

As the manager of your own establishment, you may likely be more than knowledgeable already of the hardship in making certain that cash flow matters do not become a problem down the line. Anyway, the most unfortunate thing that can in all probability develop for your firm is to find yourself swept up in a long and complicated situation that leaves you forever trying to find the finances you need to have on an on-going basis.

 

For any kind of business in this scenario, the concern can come for waiting for work to clear up and actually be compensated into your statement. Statements, checks, and the like can take a while to actually to beprocessed which can certainly leave you with temporary capital dilemmas. The good news is, there are approaches out there for enterprises to explore-- and just one of these is factoring agencies.

 

Factoring providers will, in exchange for your accounts, grant you with the cash immediately so that you do not need to stress over the lingering period that could make paying out the bills and acquiring materialsmore tough. With this type of system, invoice factoring can come to be tremendously beneficial for many establishments who need to get out of a cash ploy which they have found themselves in.

 

Considering that, relying on the scale of the project, it can take up to 60 days for some business enterprises to get paid out then it is necessary to take care of your own back and not leave yourself funds short to pay the bills. After all, how many business enterprises have two months revenue just lying there to cover all their costs until they make money?

 

This is particularly correct of truck firms. They tend to manage bunches of invoices which means a substantial quantity of collection time concerns business owner themselves. Attempting to get compensated in time can eventually become an extraordinary hassle and this is precisely why you make use of truck factoring companies who are delighted to help out truckers mainly.

 

As most of us recognize, trucking is an surprisingly big field with a lot of firms out there working with hundreds of vehicle drivers. Unfortunately, quite a few of these drivers end up in finances troubles for the reason that they are still expecting work from six weeks back to actually compensate them. When this is the circumstance for a truck agency, choosing factoring providers for reinforcement maybe the finest alternative left.

 

This implies that a truck business can pay the salaries of the crew, keep all the vehicles refilled with gas and continue to scale, progress and expand without consistently waiting for the resources which is taking too lengthy to come in. Trucking Businesses functioning without a factoring program applied are leaving themselves at considerable hazard, as rivals cash out fast and go on to broaden.

 

There's absolutely not much to be distressed about when it comes to making use of a Factoring contractor-- they typically are not like a bank or someone who is going to leave you with a big stockpile of personal debt to pay back. You give them authentic invoices from job you have already finished , you are only just facilitating the repayment system.

 

In the United states of America, where truck establishments develop, factoring providers are not considered getting a loan in any capacity. This private settlement then lets both parties to profit and enjoy a comfortable future-- it gives the factoring agency a warranted asset of profit to include in the list and it supplies the trucking firm the required cash that they worked hard to acquire.

 

The trucking business provides their invoices to the factoring enterprise. The trucking factoring firm then obtain the payments from the trucking company's clients. Factoring has been all around for centuries and has been used for many years by many diverse markets-- but none much more so than truckers. While you might lose out on a small part of the money, something like 1-3 % depending on who you work with, it indicates that you are obtaining the money today and can actually start putting the money to do work.

 

Once and for all, an IOU or an invoice is absolutely not going to cover spendings, is it? For trucking establishments when the funds can be really good one day and gone the next, it is up to the drivers to work prudently and to make certain they are leaving themselves with a significant volume of time and money to get through the week till they are handed over again.

 

So the next moment your trucking business is bearing some momentary capital challenges and you are devoting way too much time chasing inactive paying clients, why not begin looking into using a factoring companies as a means to get your cash and give yourself a more convenient future in the eyes of your trucking staff and your bank difference?

 

 

 

 

 

 

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Traditional 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. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Once the loan is paid off, you can then apply for another loan if the need arises.

 

What Are Trucking Factoring Companies?

 

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

 

What Are The Benefits Of A Trucking Factoring Company Versus A Traditional 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. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets to pay off a loan. 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. You'll receive the money faster. Using a Trucking Factoring company means that you'll get the finance quicker. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.

 

4.Interest is Paid Up Front. 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. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a 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. The Trucking Factoring company takes over that chore, since it is now their money to collect. 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.

 

Another bonus is that, because the Trucking Factoring company has evaluated the quality of your customers' credit before buying the accounts receivable, you learn valuable information regarding your customers, like which ones are likely to pay, and which ones are less likely to pay.While a Trucking Factoring company is not the only way for your business to obtain the money it needs to keep growing, it does offer a type of financing well worth considering.

 

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Factoring Companies by City

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