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I gave away my receivables - and made more money too - Our Receivable Loan Company Can Provide
Your Freight Company The Money You Want

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Medium-Size trucking businesses, especially those who have not been in existence for very long, will often discover it hard to secure a loan. Banks are often reluctant to lend money to businesses that do not have a great deal of earnings and assets. They likewise want proof of the viability of a business and hence require that many operations, especially little ones, be in business for a certain amount of time before they are prepared to turn over any money. Due to the fact that of this, a medium-size business commonly has a couple of cash creating alternatives when needs arise. One choice available, however commonly overlooked, is receivable Financing. This is an outstanding way for a small business to acquire money.

 

 

 

 

 

 

 

I gave away my receivables - and made more money too - Choose An Invoice Factoring Company Instead Of A Typical Bank Financing

Exactly how to Increase Cash Flow Without Loaning -Cash Money flow is one of the main reasons businesses fail.

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

Money flow does not have to be an issue any 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. What is trucking factoring ? One solution is called trucking factoring. Trucking Factoring is the procedure of selling accounts receivable to a financier rather than waiting to gather the cash from the customer. Oh, the Irony- Truck factoring has a paradoxical difference: It is the monetary foundation of numerous of America's most effective businesses. Why is this paradoxical ? Since accounts receivable factoring is not taught in business colleges, is seldom discussed in company plans and is fairly unknown to the majority of most of American business people.

Yet it is a monetary procedure that releases up billions of dollars every year, enabling thousands of businesses to grow and succeed. Truck Factoring has actually been around for thousands of years. FACTORING Businesses are financiers who pay money for the right to get the future payments on your invoices. An overdue receivable or invoice has value. It is a financial obligation your client has agreed pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business deals, a big percentage of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail deals. Utilizing the purest meaning of the word, these large customer finance business are really simply large Truck Factoring Companies of customer paper. Consider it: You make a purchase at Sears and charge it to your MasterCard. The shop makes money almost instantly, even though you do not make payment until you are prepared.

For this service, the charge card company charges Sears a fee (typical common normal fees range from 2 to four percent of the sale). The Advantages Truck Factoring can provide numerous benefits to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on an item that has currently been provided, a business can factor (sell) its receivables for money at a small price cut off the amount of the invoice. Payroll, advertising efforts, and working capital are just a few of the business needs that can be satisfied with instant  cash.

Invoice Factoring offers the ways for a producer to renew inventory 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 simply a cash management device for manufacturers: Practically any type company can benefit from Receivable Loan Financing. Generally, a business that extends credit will have 10 to 20 percent of its annual sales bound in invoices at any given time. Think for a moment about exactly how much is tied up in 60 days' worth of invoices: You can not pay the power bill or this week s payroll with a customer s invoice, but you can offer that invoice for the cash to satisfy those responsibilities. Using trucking factoring companies is a quick and simple process. The factoring company buys the invoice at a discount, typically a few portion points less than the face value of the invoice.

 

 

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The U.s. Transportation Organization
mentions that there around
195,000 workers with truck
businesses and
250,000 private service providers trucking
companies accredited to
run in America that carried,
according to their newest data of millions
items, materials and
basic products .
There are numerous typical
providers either going solo or in
groups on our country
roadways carrying these
crucial items to our
stores, manufacturing facilities and shipping ports.

Plus truck factoring
businesses aid
many of them and offer their
accounts receivablesfinancing facilities
countrywideincluding
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

 

Washington has a growing, diversified economy with an increasing percentage of professional and business service jobs. The gross state product of the District in 2010 was $103.3 billion, which would rank it No. 34 compared to the 50 U.S. states. The gross product of the Washington Metropolitan Area was $425 billion in 2010, making it the fourth-largest metropolitan economy in the United States. As of June 2011, the Washington Metropolitan Area had an unemployment rate of 6.2%; the second-lowest rate among the 49 largest metro areas in the nation. The District of Columbia itself had an unemployment rate of 9.8% during the same time period.A wide, one story red brick building with a sloping black roof behind numerous white-topped tents selling assorted wares. Eastern Market on Capitol Hill houses food vendors and artisan stalls.In 2012, the federal government accounted for about 29% of the jobs in Washington, D.C. This is thought to immunize Washington to national economic downturns because the federal government continues operations even during recessions. Many organizations such as law firms, independent contractors (both defense and civilian), non-profit organizations, lobbying firms, trade unions, industry trade gro, and professional associations have their headquarters in or near D.C. to be close to the federal government.Tourism is Washington's second largest industry. Approximately 18.9 million visitors contributed an estimated $4.8 billion to the local economy in 2012. The District also hosts nearly 200 foreign embassies and international organizations such as the World Bank,five non-government-related employers in the city as of 2009. According to statistics compiled in 2011, four of the largest 500 companies in the country were headquartered in the District

 

 

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

 

"

Snyder Truck & Haul have been operating their business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the heady times from 2002 to 2007, Snyder was a top rated accounts receivable mastermind of the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. Cash was flowing and times were good for all.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 to a crawl

 

. And worse yet, Snyder 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, Derrick Diaz, CEO of Snyder felt a chill go down his spine whenever he would look at the weekly A/R reports. The number of clients who were late in their payments was continuing to grow.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? By his bookkeepers records, this wasn't the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Snyder money had jumped ship and decided to leave him holding the bag.

 

. 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. The had just gone!.This current state-of-affairs was causing Derrick Diaz to have some very restless nights. Derrick 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. In the evenings he would discuss his concerns with his wife, Marion, and still find no relief from the worry and frustration.

 

""I have a bad feeling, Lin,"" he would say with deep woe.""What could you do differently?"" she would ask.Derrick would stare off for a moment and then close eyes. He could see the fleet of trucks he had purchased over the years. He could see them on the road, delivering good to all his loyal customers. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What could cause this ultimate death spiral of business?""I know what it is,"" said Derrick. ""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."" All Marion could do was hold his hand and look at him tenderly. 'We know it is a difficult economy at the moment - perhaps it will take a while for people to get on top of their bills'.""Derrick knew very well that Marion 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 next day Derrick strolled into his office and was determined to sit down and make every phone call to every client who had owed Snyder 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. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. Wasting money, wasting time - even with the best of intentions, Derrick knew that he was in trouble.

 

Poor Derrick 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.

 

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

 

""Of course Arlene, please come in."" Derrick leaned back in his chair and looked expectantly at Arleneerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Derrick."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard of factoring?"" Arleneerley asked.""It does sound vaguely familiar. What is factoring""? he asked.She began, ""Well, it is really very simple. So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Immediately?"" Derrick interrupted.""Immediately, yes"" she added, ""In a nutshell, it is pretty easy. We can have an expert account manager review our numbers and help us complete a company profile. 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.""I see,� Derrick said. �And then what?""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.�Leaning forward, Derrick studied the documents very closely.""I do not know, Arlene - it just sounds too good to be true"", Derrick said quietly.""Yes, I know; that's exactly what I thought at the beginning. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. And they're flexible Derrick,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" asked Derrick.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. It only takes 2 to 4 days for this to be figured out. ""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. 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,"" Derrick said.Derrick took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Derrick took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Snyder Truck & Haul were professional resources of the company, but they were also long-standing friends. Derrick 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, if he handled these debtors incorrectly, could spell disaster for both of them. Of course he did not want to lose any more money, but he did not want to lose business either.""Let me go over this tonight Arlene, and thankyou."" Arlene nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Derrick keep the shirt on his back, and possibly hers too.Derrick sat behind his desk and looked over the details Arlene had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Snyder Truck & Haul with? With his pencil gliding down the sheet he noticed that the factoring company could help fray the cost of fuel with fuel discount cards and fuel advances. Derrick was surprised: it said that his company could get up to fifty percent cash advances on load pickups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""I must tell Chris the good news,"" muttered Derrick to himself.Derrick's son-in-law, Chris, loved the idea behind Snyder and highly respected his father-in-law for having such great business sense, that two years ago he got his capital together and started his own transportation company. At that time Derrick knew the struggles Chris would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Snyder was struggling then the little guys, like Chris, were going to be in even more trouble.

 

But, maybe the answer for both of them was in freight factoring, and Derrick was going to find out very soon.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Derrick was beginning to find his way out of the hole his debtors had created for him.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They used that time to refocus their efforts in being competitive in new territories. Derrick 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.

 

"

 

Washington has a growing, diversified economy with an increasing percentage of professional and business service jobs. The gross state product of the District in 2010 was $103.3 billion, which would rank it No. 34 compared to the 50 U.S. states. The gross product of the Washington Metropolitan Area was $425 billion in 2010, making it the fourth-largest metropolitan economy in the United States. As of June 2011, the Washington Metropolitan Area had an unemployment rate of 6.2%; the second-lowest rate among the 49 largest metro areas in the nation. The District of Columbia itself had an unemployment rate of 9.8% during the same time period.A wide, one story red brick building with a sloping black roof behind numerous white-topped tents selling assorted wares. Eastern Market on Capitol Hill houses food vendors and artisan stalls.In 2012, the federal government accounted for about 29% of the jobs in Washington, D.C. This is thought to immunize Washington to national economic downturns because the federal government continues operations even during recessions. Many organizations such as law firms, independent contractors (both defense and civilian), non-profit organizations, lobbying firms, trade unions, industry trade gro, and professional associations have their headquarters in or near D.C. to be close to the federal government.Tourism is Washington's second largest industry. Approximately 18.9 million visitors contributed an estimated $4.8 billion to the local economy in 2012. The District also hosts nearly 200 foreign embassies and international organizations such as the World Bank,five non-government-related employers in the city as of 2009. According to statistics compiled in 2011, four of the largest 500 companies in the country were headquartered in the District

 

 

More Trucking Factoring Companies Story Articles

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

 

Michael�s father had started as an owner-operator and had grown Jones Trucking Company into a fifteen trailer fleet over forty years. There had been some hard times when it seemed everything was going to go under and even Michael�s mother strapped herself into a cab to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. Now the company was solely in Michael�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. His employees needed to be paid. They had families and household bills too. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. Every time he had to turn down a request, Jones Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Michael allowed himself a good hard chuckle. He remembered when his father was totally against installing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� 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.

 

Michael believed a successful man is always thinking of his next step. What would be the next step for Jones Trucking? And how would he be able to afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. 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? 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. 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. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Now it was time for Michael 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. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

But it turned out to be quite easy. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. 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. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. Many companies offered a non-recourse factoring program that suited him just fine. 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 more personable than those loan managers at the bank. 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 Michael 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 would not have any problems, nor would they think poorly of Jones 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.

 

Michael 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. He suddenly realized that, with this new cash flow, he could actually expand Jones Trucking Company and who knows, move into Canada, which had always been his dream. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

 

 

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Trucking Factoring  Articles

"

�So, this is not a loan?� asked Allen Hall, reclining back into his chair and crossing his legs. The woman sitting across the desk from Allen smiled at him, shaking her head.�No, not exactly,� she said.Allen was the owner of a small trucking company which had fallen on some hard times recently. Trucking could be a profitable business, and for a little under a decade, it had been for Kevin. His company was called Morales Trucking, named after both of his grandfathers, Sean and Barry. Both of these men had been very hardworking and had set a great example for Kevin.Disaster had struck half a year ago, when two trucks in Kevin�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 Kevin'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.Allen 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. Her name was Gertrude and she worked for a factoring company. Allen 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�s not a loan, we purchase 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.Allen agreed. It sounded perfect - perhaps too good?.Gertrude 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 actually thought I might end up losing my business.�Gertrude 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,� Gertrude said with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Allen filled the form out, with Gertrude available to help him if he needed it. The completed profile gave Gertrude and her company all the information they needed on Kevin's business, and with this information they would determine if this business would in fact be suitable for Factoring. Unfortunately, not all companies are. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. Listening as Allen filled out his form, Gertrude was pretty sure he was a perfect candidate for factoring.Gertrude took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Kevin's hand. He stood before they shook as well, and then smiled. They said their goodbyes and Allen 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 Gertrude though, learning about factoring, it felt like a weight had been lifted from his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.The long nights, where he couldn�t sleep. The terrifying panic attacks that occurred regardless of 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 he had gotten bored. He wasn't passionate about 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 Morales 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 nearing fifty. He was concerned that he just did not have the energy left to try and save the business. But he couldn�t give up. The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He did not want to quit - both for himself and for his staff members.And now it seemed as though he would not have to - all because of Factoring. Kevin's eyes opened, he sat forward in his chair and turned on his computer. He had things to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

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More Trucking Factoring Company Story Articles

The reason why Truck Agencies Use Factoring Firms.

 

As the owner of your own company, you may perhaps be more than perceptive already of the difficulty in making sure that capital issues do not become a dilemma down the line. Anyway, the most awful thing that can potentially occur for your company is to find yourself swept up in a long and troublesome condition that leaves you forever searching for the finances you really need on an continuing basis.

 

For any enterprise in this position, the trouble can come for waiting for work to lapse and actually be compensated into your bank account. Bill of sales, checks, and the like can take a while to actually to be taken care of which can certainly leave you with momentary cash flow troubles. Thank goodness, there are alternatives out there for industries to consider-- and just one of these is factoring firms.

 

Factoring companies will, in substitution for your statements, supply you with the cash money immediately to make sure that you do not have to stress over the lingering period which could make paying out the expenses and purchasing toolsmore troublesome. With this kind of setup, invoice factoring can come to be extremely beneficial for various enterprises who ought to get out of a cash trap which they have discovered themselves in.

 

Simply because, depending upon the size of the task, it can take up to 60 days for some firms to get paid out then it is necessary to cover your own back and definitely not leave yourself money short to pay off the bills. After all, how many establishments have two months earnings just lying there to deal with all their overheads till they earn?

 

This is especially true of truck agencies. They generally deal with tons of accounts which means a considerable volume of collection period entails business owner themselves. Making an effort to get paid out promptly can turn into an extraordinary struggle and this is precisely why you use truck factoring providers who are pleased to help out truckers particularly.

 

As we all realize, trucking is an unbelievably huge industry with countless companies out there utilizing hundreds of operators. Unfortunately, many of these drivers land up in income difficulties for the reason that they are still waiting for work from six weeks earlier to actually compensate them. When this is the condition for a truck company, turning to factoring agencies for assistance might be the most recommended choice left.

 

This implies that a truck organization can pay off the salaries of the crew, keep all the trucks filled with gas and continue to surmount, evolve and expand without constantly waiting for the money which is taking too long to come in. Trucking Firms working without a factoring program established are leaving themselves at considerable hazard, as rivals cash out quickly and continue to broaden.

 

There's genuinely nothing at all to be distressed about when it comes to utilizing a Factoring establishment-- they typically are not like a banking company or an individual who is going to leave you with a considerable heap of debt to repay. You give them legitimate invoices from job you have already finished , you are only just hastening the repayment system.

 

In the United states of America, where truck agencies thrive, factoring firms are not considered getting a loan in any capacity. This confidential settlement then makes it possible for both groups to benefit and experience a good future-- it provides the factoring company a secured resource of cash flow to put into the list and it offers the trucking company the needed money that they sweated to obtain.

 

The trucking enterprise presents their accounts to the factoring agency. The trucking factoring company then obtain the payment amounts from the trucking company's customers. Factoring has beenaround for centuries and has been employed for several years by plenty of diverse business-- but none more so than truckers. While you might lose out on a small part of the money, something like 1-3 % depending upon who you deal with, it implies that you are obtaining the funds today and can actually begin setting the resources to perform.

 

Anyway, an IOU or an invoice is not going to finance expenses, is it? For trucking companies when the finances can be fantastic one day and gone the next, it is up to the drivers to work prudently and to ascertain they are leaving themselves with a substantial measure of time and money to get through the week up until they are compensated again.

 

So the next moment your trucking business is bearing some short-term capital concerns and you are shelling out too much time chasing slowly paying clients, why not start off considering using a factoring businesses as a method to get your finances and give yourself a more pleasant future in the eyes of your trucking crew and your bank dividend?

 

 

 

 

 

 

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Traditional Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. While these loans are handy they are not available to every business. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. 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. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to sell. Once you have set up Trucking Factoring account it continues as long as you wish it too and the amount of money available to you even can grow as your business grows, giving you the ready cash you need to meet your own obligations.

 

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

 

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

 

1. You will not Incur Debt. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. 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. 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 benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. 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 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. You'll receive the money faster. With a Trucking Factoring company you can actually get the money you need faster. 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 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 most important benefits is that once you sell your accounts receivable to the factory company, you do not have to take time away from running your business to collect the money owed from reluctant to pay customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

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

 

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Factoring Companies by City

New York City

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Charlotte


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Boston


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Portland


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Colorado Springs


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Newark

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Jersey

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Gilbert town

San Bernardino

Boise

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Rochester

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