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I gave away my receivables - and made more money too - Our Receivable Financing Company Can Give
Your Trucking Company The Money Your Company Needs

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Factoring invoices is beneficial for several reasons. It enables a truck company to raise money without obtaining new debt. While debt is often essential, the majority of freight brokerage would choose to raise cash without obtaining cash. Debt is high-risk, and when it can not be paid back, possessions can be repossessed. If the debt is huge enough, it may even require a truck businesses out of business.

 

 

 

 

 

 

 

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

How to Enhance Cash Flow Without Borrowing -Cash Money flow is among the primary 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 places you can get funding. Other options are available and you do not have to borrow money. Exactly what is truck factoring ? One solution is called trucking factoring. Trucking Factoring is the process of selling invoices to an investor rather than waiting to gather the money from the client. Oh, the Irony- Truck factoring has an ironic difference: It is the financial foundation of numerous of America's most effective businesses. Why is this paradoxical ? Because receivable financing is not taught in business colleges, is seldom mentioned in company plans and is relatively unknown to the majority of most of American business people.

Yet it is a financial procedure that frees billions of dollars every year, enabling countless companies to grow and succeed. Factoring has actually been around for countless years. Staffing Factoring Companies are financiers who pay cash for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your customer has actually to pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business transactions, a big portion of the retail company utilizes a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail deals. Using the purest definition of the word, these large consumer finance business are really simply large FACTORING Companies of customer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The store makes money practically immediately, even though you do not make payment up until you are ready.

For this service, the charge card business charges Sears a fee (typical common normal fees range from 2 to four percent of the sale). The Advantages Receivable Loan Funding can offer many benefits to cash-hungry business. Instead of waiting 30, 60, 90 days or longer for payment on an item that has already been delivered, a business can factor (sell) its receivables for money at a little discount off the dollar value of the invoice. Payroll, advertising efforts, and working capital are just a few of the business requirements that can be met with instant  money.

Receivable Funding offers the means for a manufacturer to renew inventory and make even more items to sell: There is no longer a requirement to await for earlier sales to be paid. FACTORING is not just a cash management tool for manufacturers: Practically any kind company can take advantage of Receivable Loan Funding. Typically, a company that extends credit will have 10 to 20 percent of its annual sales tied up in invoices at any given time. Think for a moment about exactly how much is bound in 60 days' worth of invoices: You can not pay the power bill or today s payroll with a client s invoice, but you can offer that invoice for the cash to satisfy those obligations. Using trucking factoring companies is a fast and easy procedure. The factor buys the invoice at a price cut, usually a couple of percentage points less than the face value of the invoice.

 

 

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The American Truck Association
states that there around
195,000 workers with transportation
companies and
250,000 personal companies trucking
firms accredited to
operate in the States that transferred,
according to their most current searchings for billions of
items, materials and
basic materials .
There are numerous usual
providers either going solo or in
groups on our country
roadways carrying these
important products to our
shops, manufacturing facilities and harbors.

And trucking factoring
corporations benefit
numerous of them and offer their
factoring services
nationwidecomprising
including the following states.

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

 

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Encompassing $304 billion, the Atlanta metropolitan area is the eighth-largest economy in the country and 17th-largest in the world. Corporate operations comprise a large portion of the Atlanta's economy, with the city serving as the regional, national, or global headquarters for many corporations. Atlanta contains the country's third largest concentration of Fortune 500 companies, and the city is the global headquarters of corporations such as Over 75 percent of Fortune 1000 companies conduct business operations in the Atlanta metropolitan area, and the region hosts offices of about 1,250 multinational corporations. Many corporations are drawn to Atlanta on account of the city's educated workforce; as of 2010, nearly 43% of adults in the city of Atlanta have college degrees, compared to 27% in the nation as a whole. world headquartersAtlanta began as a railroad town and logistics has remained a major component of the city's economy to this day. Atlanta is an important rail junction and contains major classification yards for . Since its construction in the 1950s, Hartsfield-Jackson Atlanta International Airport has served as a key engine of Atlanta's economic growth. Delta Air Lines, the city's largest employer and the metro area's third largest, operates the world's largest airline hub at Hartsfield-Jackson Atlanta International Airport and has helped make Hartsfield-Jackson the world's busiest airport, both in terms of passenger traffic and aircraft operations. Partly due to the airport, Atlanta has become a hub for diplomatic missions; as of 2012, the city contains 25 general consulates, the seventh-highest concentration of diplomatic missions in the United States.Media is also an important aspect of Atlanta's economy. The city is a major cable television programming center. the country's third-largest cable television service and the publisher of over a dozen major American newspapers, is headquartered in the city. T. Indeed, Atlanta has been nicknamed the Silicon peach due to its burgeoning technology sector. As of 2013, Atlanta contains the fourth-largest concentration of information technology jobs in the United States, numbering 85,000. Atlanta also ranks as the sixth-fastest growing city for information technology jobs, with an employment growth of 4.8% in 2012 and a three-year growth near 9%, or 16,000 jobs. Information technology companies are drawn to Atlanta's lower costs and educated workforce.Largely due to a state-wide tax incentive enacted in 2005, the Georgia Entertainment Industry Investment Act, which awards qualified productions a transferable income tax credit of 20% of all in-state costs for film and television investments of $500,000 or more, Atlanta has become a center for film and television production. Film and television production facilities in Film and television production injected $1 billion into Georgia's economy in 2010, with Atlanta garnering most of the projects. Atlanta has gained recognition as a center of production of horror and zombie-related productions, with Atlanta magazine dubbing the city the ""Zombie Capital of the World"". newsroomCompared to its peer cities, Atlanta's economy has been disproportionately affected by the 2008 financial crisis and the subsequent recession. The city's economic problems are displayed in its elevated unemployment rate, declining real income levels, and depressed housing market. From 2010-2011, Atlanta saw a 0.9% contraction in employment and a meager 0.4% rise in income. As of 2012, the unemployment rate in Atlanta was over 9%, higher than the national average of 8.2%. These dismal statistics have garnered Atlanta recognition as one of the world's worst economic performers, with the city's economy earning a ranking of 189 among 200 global cities, down from a ranking of 89 during the 1990s, when the city realized 1.6% income growth and 2.6% employment growth. However, even when the 2008-2009 period is excluded, the 2001-2007 period is still one of the worst on record for Atlanta: the city never recovered the jobs it lost during the Early 2000s recession, and per capita income declined nearly 5% from 2000 to 2006, the largest decline among major U.S. cities. Thus, Atlanta's current economic crisis was only worsened, and not caused, by the Recession. Adding to the city's employment and income woes is the spectacular collapse of its housing market. Atlanta home prices fell by 2.1% in January 2012, reaching levels not seen since 1996, a decline that measured among the worst in the country. Compared with a year earlier, the average home price in Atlanta fell 17.3% in February 2012, the largest annual drop in the history of the index for any city. Atlanta home values average $85,000 as of January 2012, second-worst among major metropolitan areas, coming in just behind Detroit. This unprecedented collapse in home prices has led some economists to deem Atlanta the worst housing market in the country. Nevertheless, in August 2013, Atlanta appeared on magazine's list of the Best Places for Business and Careers

 

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

Click below to find Trucking Companies in the United States:

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

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.

 

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

 

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

 

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

 

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.

 

 

"

Since the mid 1980s Roberts 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 boom times from 2002 to 2007 Roberts Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. Cash was flowing and times were good for all.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. Worse still, it was noticed by Roberts 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 Roberts, Peter Burke, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. There was a growing list of clients who now owed them back debt.He had already been to the administrators to ask what the actual problem was. Were they doing something wrong or different when it came to reaching out to delinquent 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.To Peter Burke the situation looked desperate. He had employees to pay, goods to ship, trucks to maintain and overhead that was almost unbearable when compared against the lack of funds that were coming in. In the evenings he would discuss his concerns with his wife, Christine, and still find no relief from the worry and frustration.

 

""Lin, I have a really bad feeling,"" he would say with deep woe.""What could you do differently?"" she would say.Peter 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. What on earth was happening to create the death of his business?""I think I know what it could be,"" Peter said. ""I've relied too long on the profits I receive from invoices alone. I've let too many of our customers go too long without paying on their bills."" Christine would look at her husband lovingly, and holding his hand would say 'it is such a harsh economy these days and our clients must be having difficulty meeting their responsibilities'.""Peter 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 Peter strolled into his office and was determined to sit down and make every phone call to every client who had owed Roberts money. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. Wasting money, wasting time - even with the best of intentions, Peter knew that he was in trouble.

 

Poor Peter 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 Peter?"" she queried, standing in the doorway.

 

""Sure thing Sonia, come on in."" Peter relaxed back into his chair and looked up at Soniaerley.""Well Peter, this afternoon I did some research, trying to work out how we are going to get out of this mess."" 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 sounds vaguely familiar. What is factoring""? he asked.She began, ""Well, it is really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Peter interrupted ""Immediately?"".""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. 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.""Peter replied cautiously ""I see - and what happens then?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

This company tells us what the cost will be to purchase factoring for our accounts receivable. The funding commences once we�ve arrived at an agreement.�Leaning forward, Peter studied the documents very closely.""I do not know, Sonia - it just sounds too good to be true"", Peter said quietly.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Peter: 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, Peter,"" 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.

 

""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. 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,"" Peter said.Peter took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Precisely�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Peter thought about this and agreed with Soniaerley. The clients who owed them money were long standing friends and professional resources of Roberts. Peter wasn't prepared to lose these relationships just because they were having financial issues at the moment. 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. He did not want to lose business but he also did not want to lose any more money.""Let me go over this tonight Sonia, and thankyou."" Sonia nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Peter keep the shirt on his back, and possibly hers too.Peter sat behind his desk and looked over the details Sonia had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Roberts 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. Peter was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Peter 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 Ralph the good news,"" muttered Peter to himself.Peter's son-in-law, Ralph, loved the idea behind Roberts and highly respected his father-in-law for having such great business sense, that two years ago he got his capital together and started his own transportation company. Peter knew then what struggles Ralph would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Roberts was struggling then the little guys, like Ralph, were going to be in even more trouble.

 

But, an antidote may have been found in freight factoring and Peter was soon 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 Peter 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. Peter recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

 

 

More Trucking Factoring Companies Story Articles

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

 

More than forty years ago Donald's father had started this business working as an owner-operator and eventually growing Harris 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 Donald'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 Donald�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. He knew that turning down these requests made Harris Trucking look inefficient and weak in what was currently a strong market.

 

His father would have told him to wait and to take his time adding on new technology. Donald chuckled, thinking about his father. He remembered when his father was totally against installing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� 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.

 

Donald believed a successful man is always thinking of his next step. How would he take Harris 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? There was a lot he didn�t understand about the process. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. Without this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Donald had to really consider what his next step was going to be. Donald had heard that there were companies that charged for same day money transfers and would only advance a percentage of the money owed to your company while holding the rest in a private account if they didn�t get their bill payment within 60 or so days. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

But it turned out to be quite easy. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He didn�t mind signing an exclusive contract. 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. Many companies offered a non-recourse factoring program that suited him just fine. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It was good money.

 

For Donald it was quite a relief to be dealing with the factoring company. 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 Donald 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 wouldn�t think poorly of Harris 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.

 

Feeling happier now, Donald 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 Harris 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.

 

 

 

 

 

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Trucking Factoring  Articles

"

�So, this is not a loan?� asked Todd White, reclining back into his chair and crossing his legs. The woman sitting across the desk from Todd smiled at him, shaking her head.�No, not exactly,� she stated.Todd White owned a small trucking company, and his business had recently fallen on difficult times. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Fernando. His company was called Stevens Trucking, named after both of his grandfathers, Wesley and Clifford. They had both been hardworking men, and had done a lot to make Todd the same.Disaster had struck half a year ago, when two trucks in Fernando�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 Fernando's company relied on his full fleet on fifteen being on the road, and missing two trucks was just 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. 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.Todd wasn�t a bad owner, and he hadn�t messed up. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.That�s where the woman across the desk came in. Todd knew she was employed by a Factoring company and that her name was Lisa. Todd 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.Lisa 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.Todd nodded. It sounded perfect - perhaps too good?.Lisa laughed. �You look like you don�t believe me,� she chuckled.�Oh no, I do: it just sounds too good to be true. I actually thought I might end up losing my business.�Lisa nodded. �We get that a lot. 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.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� Lisa said with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Todd filled the form out, with Lisa available to help him if he needed it. The profile filled Lisa and her company in on Fernando�s company, and would help them determine if he was suitable for factoring. In truth, not all companies were. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. Listening as Todd filled out his form, Lisa was pretty sure he was a perfect candidate for factoring.When the form was done Lisa took it and slid it into her briefcase. Standing up, she reached over the desk and shook Fernando's hand. He also stood up, and they smiled at each other. They said their goodbyes and Todd walked her to the door, and then returned to his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He leaned back and closed his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. Talking to Lisa 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.All those long, sleepless nights. The sudden panic attacks, not matter where he was. He could feel it all fading away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was 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.His mind wandered back to the very beginning, when he first started his business. At twenty-two and straight out of school he had opened a restaurant. It had been really successful. Home cooking in his hometown, and he had done very well.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 Stevens Trucking. So he did it. For the second time in his short life he created a company from the ground up. He had been successful.And then the trucks went down, and his success looked to be in flux. He was about to turn fifty. He didn�t think he had it in him, to save this company. But he couldn�t give up. 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, because of factoring, he was sure he wouldn�t have to. Fernando's eyes opened, he sat forward in his chair and turned on his computer. He had things to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

Precisely why Truck Corporations Employ Factoring Firms.

 

As the owner of your own business enterprise, you may be much more than perceptive already of the challenge in making certain that capital matters do not become a predicament down the line. Anyway, the worst thing that can in all probability transpire for your company is to find yourself involved in a long and difficult situation that leaves you forever trying to find the funds you require on an recurring basis.

 

For any sort of company in this position, the concern can come for waiting for work to lapse and actually be paid into your balance. Bill of sales, checks, and the like could take a long time to actually to be taken care of which can certainly leave you with momentary available resources issues. Fortunately, there are alternatives out there for establishments to check out-- and among these is factoring firms.

 

Factoring firms will, in substitution for your bill of sales, give you with the money now to ensure that you do not need to fret about the delaying time span which could make paying the bills and obtaining materialsmore difficult. With this type of system, invoice factoring can end up being tremendously valuable for lots of enterprises who have to avoid a cash ploy which they have discovered themselves in.

 

Simply because, relying on the volume of the work, it can take up to 60 days for some enterprises to get paid out then it is essential to blanket your own back and not leave yourself resources short to pay off the costs. After all, how many establishments possess two months revenue just occupying there to pay for all their costs till they make money?

 

This is specifically correct of truck agencies. They have the tendency to manage good deals of invoices which means a notable amount of collection period demands business owner themselves. Attempting to get paid off promptly can become an amazing headache and this is exactly why you work with truck factoring providers who are delighted to help out truckers specifically.

 

As we all understand, trucking is an remarkably large business with lots of firms out there employing hundreds of vehicle drivers. The sad thing is, many of these drivers end up in money troubles given that they are still anticipating work from six weeks earlier to actually compensate them. When this is the circumstance for a trucking organization, choosing factoring companies for reinforcement might be the best option left.

 

This means that a truck organization can provide the salaries of the work force, keep all the cars filled with fuel and continue to scale, evolve and expand without consistently waiting for the cash which is taking too prolonged to come in. Trucking Firms operating without a factoring program implemented are leaving themselves at notable hazard, as contenders cash out promptly and go on to broaden.

 

There's genuinely not a thing to be distressed about when it comes to working with a Factoring company-- they are not like a bank or a person who is going to leave you with a substantial stack of personal debt to repay. You give them genuine invoices from output you have already finalized , you are only facilitating the payment system.

 

In the United states of America, where truck firms thrive, factoring agencies are not considered accepting loan of in any capacity. This private agreement then allows both parties to make money and delight in a comfortable future-- it provides the factoring provider a warranted asset of revenue to put into the list and it offers the trucking business the needed money that they worked hard to earn.

 

The trucking business provides their invoices to the factoring firm. The trucking factoring firm then collect the installment payments from the trucking company's clients. Factoring has been all around for centuries and has been utilized for several years by a lot of various fields-- but none much more so than truckers. While you might miss out on a small part of the money, something like 1-3 % depending on who you collaborate with, it signifies that you are obtaining the resources today and can actually start off putting the resources to work.

 

After all, an IOU or an invoice is not actually going to pay for spendings, is it? For trucking establishments when the funds can be fantastic one day and gone the next, it is up to the drivers to work smartly and to ascertain they are leaving themselves with a substantial volume of time and money to get through the week until they are handed over again.

 

So the next time your trucking enterprise is having some short-term cash flow dilemmas and you are putting in way too much time chasing sluggish paying clienteles, why not begin thinking about using a factoring businesses as a method to get your cash and give yourself a more comfortable future in the eyes of your trucking workers and your bank dividend?

 

 

 

 

 

 

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Traditional Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. 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. Once the loan is paid off, you can then apply for another loan if the need arises.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing 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.

 

What Are The Benefits Of A Trucking Factoring Company Versus A Traditional Bank Loan?

 

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

 

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

 

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

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The 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.

 

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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