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Cash For Companies. Tell Us What You Want - Our Freight Factoring Company Can Give
Your Truck Company The Money You Need

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Factoring invoices is beneficial for numerous reasons. It permits a trucking company to raise cash without acquiring brand-new debt. While financial obligation is sometimes required, the majority of trucking companies would like to raise money without obtaining cash. Financial obligation is dangerous, and when it can not be paid back, possessions can be repossessed. If the debt is large enough, it might even require a trucking firms out of business.

 

 

 

 

 

 

 

How to Get Cash And Grow Your Company - Select A Freight Bill�Factoring Company  Instead Of A Regular Bank Funding

How to Enhance Cash Flow Without Loaning -Cash Money flow is one of the primary reasons businesses fail.

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

Cash flow does not have to be an issue any more. Do not be deceived -- banks are not the only locations you can get funding. Other solutions are available and you do not have to borrow. What is truck factoring ? One solution is called trucking factoring. Trucking Factoring is the procedure of offering accounts receivable to an investor rather than waiting to gather the money from the client. Oh, the Irony- Truck factoring has a paradoxical distinction: It is the monetary backbone of many of America's most effective companies. Why is this ironic ? Because trucking factoring is not taught in business colleges, is rarely discussed in company strategies and is fairly unidentified to the majority of most of American company people.

Yet it is a financial process that frees billions of dollars every year, enabling countless businesses to grow and prosper. Accounts Receivable Factoring has actually been around for countless years. FACTORING Businesses are financiers who pay money for the right to get the future payments on your invoices. An unpaid receivable or invoice has value. It is a debt your customer has to pay in the near future. Factoring Principals--Although factoring deals solely with business-to-business deals, a large percentage 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 big consumer finance companies are really just big Receivable Funding Businesses of consumer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The store gets paid practically immediately, 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 charges vary from two to four percent of the sale). The Advantages Receivable Loan Funding can provide many benefits to cash-hungry companies. Instead of waiting 30, 60, 90 days or longer for payment on an item that has already been provided, a company can factor (sell) its receivables for cash at a small discount off the amount of the invoice. Payroll, advertising efforts, and working capital are just a few of the business requirements that can be met with instant  money.

Invoice Factoring provides the ways for a producer to renew inventory and make even more products to sell: There is no longer a need to await for earlier sales to be paid. Receivable Loan Financing is not simply a money management device for manufacturers: Practically any type company can benefit from Invoice Factoring. Generally, a company that extends credit will have 10 to 20 percent of its yearly sales tied up in accounts receivable at any given time. Think for a moment about how much is bound in 60 days' worth of invoices: You can not pay the power expense or today s payroll with a client s invoice, but you can offer that invoice for the money to satisfy those responsibilities. Using truck factoring companies is a quick and easy procedure. The factoring company purchases the invoice at a discount, typically a few percentage points less than the stated value of the invoice.

 

 

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The United states Truck Association
mentions that there around
205,000 truck drivers with freight trucking
companies and
276,000 private service providers trucking
companies licensed to
operate in the U.S. that transported,
according to their latest listings of millions of
items, materials and
basic products .
There are a number of typical
providers either going solo or in
groups on our country
roads transferring these
crucial products to our
shops, manufacturing facilities and harbors.

And freight factoring
businesses benefit
several of them and offer their
accounts receivablesfinancing facilities
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

 

"

Corpus Christi is a coastal city in the South Texas region of the U.S. state of Texas. The county seat of Nueces County, it also extends into Aransas, Kleberg, and San Patricio counties. The metropolitan area US Census estimated population in 2013, was 442,600. The population was 316,381 at the 2013 US Census estimate, making it the eighth most populous city in the state of Texas. It is the principal city of the tri-county Corpus Christi metropolitan area, as well as the larger six county Corpus Christi-Kingsville-Alice Combined Statistical Area, with a 2013 Census estimate at 516,793. The translation from Latin of the city's name (Corpus Christi) means Body of Christ. The name was given to the settlement and surrounding bay by Spanish explorer Alonso �lvarez de Pineda in 1519, when he discovered the lush semi-tropical bay on the feast day celebrating the ""Body of Christ."" The city has the nicknames ""Texas Riviera"" and ""Sparkling City by the Sea"", particularly in literature promoting tourism.The city is home to the Port of Corpus Christi, the fifth largest in the United States, and is served by the Corpus Christi International Airport.The majority of the population is employed in the Services, Wholesale and Retail Trades and Government sectors. Corpus Christi has an unemployment rate of 7.0% as of July 2012.The Port of Corpus Christi, which is the fifth largest U.S. port and deepest inshore port on the Gulf of Mexico, handles mostly oil and agricultural products. Much of the local economy is driven by tourism and the oil & petrochemicals industry. In 2005, the Port was ranked as the 47th largest in the world by cargo tonnage.Corpus Christi is home to two installations of the United States military: the Corpus Christi Army Depot, and Naval Air Station Corpus Christi. Combined, these installations provide 6,200 civilian jobs to the local economy, making them the single largest employer in the city. Corpus Christi Army Depot, located on NAS Corpus Christi, is the largest helicopter repair facility in the world. A third military installation, also located on NAS Corpus Christi, is the United States Coast Guard Sector/Air Station Corpus Christi.Corpus Christi is the original home of the headquarters of Whataburger, a fast food restaurant operator and franchiser with 650 stores in ten states and Mexico; however, the company relocated its headquarters to San Antonio in 2009. Other large employers include CHRISTUS Spohn Health System at 5,400 local employees, the Corpus Christi Independent School District with 5,178, H-E-B at 5,000, and Bay Ltd. at 2,100. Other companies based in Corpus Christi include Stripes Convenience Stores and AEP Texas.Corpus Christi became the first major city to offer city wide free wi-fi[when?] in order to allow remote meter reading after a meter reader was attacked by a dog. In 2007, the network was purchased by Earthlink for $5.5 million, and stopped being a free service on May 31, 2007Corpus Christi (k�r'p?s kris'te) [key], city (1990 pop. 257,453), seat of Nueces co., S Tex.; inc. 1852. It is a port on Corpus Christi Bay at the entrance to Nueces Bay (at the mouth of the Nueces River). The city is an oil and gas center, with refineries, smelters, chemical works, and food-processing plants, as well as large seafood, fishing, and health-care industries. Sports-fishing facilities, beaches, and a mild climate make Corpus Christi a tourist and convention center, and it is the gateway to Padre Island National Seashore. Tradition holds that the bay was named by the Spanish explorer Alonzo Alvarez de Pineda, who found it on Corpus Christi Day in 1519, but there is evidence that it was named instead by the first settlers, who arrived from the lower Rio Grande valley in the 1760s. In 1839, Col. H. L. Kinney founded a trading post, and traders and adventurers collected in a raffish colony on land claimed by both Texas and Mexico. The small port and terminus for overland wagon-train traffic boomed during the Mexican War. It was briefly captured by the U.S. navy in the Civil War. Corpus Christi developed industrially after the discovery of oil in the area and the completion (1926) of a deepwater channel past Mustang Island.The city has many historical sites and is the seat of Texas A&M Univ.�Corpus Christi. A naval air station is on the southern shore of the bay. The city has suffered from occasional hurricanes; it is partially protected from flooding by a sea wall 12,300 ft (3,749 m) long, built between 1939 and 1941.

 

"

 

View Our Truck Factoring YouTube Videos For More Information

 

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.

 

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

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

 

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

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

 

Click below to find Trucking Companies in the United States:

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

Click below to find Trucking Companies in the United States:

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

Click below to find Trucking Companies in the United States:

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

 

"

Since the mid 1980s Garza 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 Garza 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. The money was flowing, and times were great.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed to a crawl

 

. And worse yet, Garza had noticed during the early part of 2008 that though the bulk of their clients were always on time with payments, the few late-bloomers there were, had seemingly started to spread this illness. Spring changed to summer, summer changed to fall, and the CEO of Garza, Arnold Ward, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The numbers of clients who owed him back debt were growing.He had already been to the administrators to ask what the actual problem was. Were they doing things different, or wrong, when it came to collecting overdue accounts? When checking his bookkeeper's records this was definitely not the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. They could not afford to pay him their debt, but they could afford a lesser service, maybe. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Garza hadn't gone elsewhere. They had just gone home.The situation looked dire to Arnold Ward. There were goods to ship, employees to pay, trucks to repair and maintain, and continuous overheads that were very extensive when compared to the funds (or lack of) that were incoming. After work he would confide in his wife, Pearl, and neither were unable to stop the constant worry over the lack of funds.""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""What could you do differently?"" she would ask.Arnold 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 traveling, bringing goods to all of his clients. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What on earth was happening to create the death of his business?""I think I know what it could be,"" Arnold said. ""For way too long I've been relying solely on profits received from invoices. For too long I've been allowing our clients to let their accounts become overdue."" Linda could only grab her husband's hand and look at him lovingly, ""it is a hard economy. It might be awhile until things get settled up.

 

""Arnold knew very well that Pearl was only trying to help, but his responsibilities weighed heavily on his shoulders and he knew he had better do something soon to resolve this situation.The following day Arnold walked into his office with a spring in his step, determined to call each and every client who owed money to Garza Truck & Haul. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. 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, Arnold knew that he was in trouble.

 

After a half day of contacting debtors in vain - they dodged his calls or promised to call back at worst or made minimal interest-only payments at best - he was about to throw in the towel when his secretary Kellyerley knocked at his door.

 

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

 

""Sure thing Kelly, come on in."" Arnold leaned back in his chair and looked expectantly at Kellyerely.""Well Arnold, this afternoon I did some research, trying to work out how we are going to get out of this mess."" 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 the word factoring?"" she asked.""It does sound 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.""Arnold interrupted ""Immediately?"".""Immediately, yes"" she added, ""it is actually very simple. We start by having a professional account manager review our figures and help us set up a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It provides a very broad view.""I see,� Arnold said. �And then what?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. 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. The funding commences once we�ve arrived at an agreement.�Leaning forward, Arnold studied the documents very closely.""It sounds too good to be true, Kelly,"" he said.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Arnold: 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, Arnold,"" she underlined a paragraph on the paper before him.""How flexible?"" asked Arnold.""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. ""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" said Arnold.He took a deep breath and looked at his secretary with something she recognized as hope.""Precisely�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Arnold thought about this and agreed with Kellyerley. The clients who owed them money were long standing friends and professional resources of Garza. They did not want to throw away these relationships because they were having trouble paying their bills now. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. He did not want to lose business but he also did not want to lose any more money.""Well, let me think about this tonight Kelly, thank you."" Kelly nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Arnold keep the shirt on his back, and possibly hers too.Arnold stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. He wondered if there might be other problems freight factoring could help Garza Truck & Haul with? With his pencil gliding down the sheet he noticed that the factoring company could help fray the cost of fuel with fuel discount cards and fuel advances. In fact, Garza could receive up to fifty-percent cash advances upon load pick-ups. Arnold 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 Shane the good news,"" muttered Arnold to himself.Shane is Arnold's son-in-law, and he really admired the ideas behind Garza, so much so that only two years before he had started his own transportation service business. Arnold knew then what struggles Shane would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Garza was struggling then the little guys, like Shane, were going to be in even more trouble.

 

Perhaps the antidote to these problems was in freight factoring, and they were about to find out.Some months later, having successfully gone through the entire process of the application, having experts study his credit history and statements and review his accounts receivable, Arnold found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They took that time and refocused effort to offering competitive prices in new territories. Arnold 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.

 

"

 

"

Corpus Christi is a coastal city in the South Texas region of the U.S. state of Texas. The county seat of Nueces County, it also extends into Aransas, Kleberg, and San Patricio counties. The metropolitan area US Census estimated population in 2013, was 442,600. The population was 316,381 at the 2013 US Census estimate, making it the eighth most populous city in the state of Texas. It is the principal city of the tri-county Corpus Christi metropolitan area, as well as the larger six county Corpus Christi-Kingsville-Alice Combined Statistical Area, with a 2013 Census estimate at 516,793. The translation from Latin of the city's name (Corpus Christi) means Body of Christ. The name was given to the settlement and surrounding bay by Spanish explorer Alonso �lvarez de Pineda in 1519, when he discovered the lush semi-tropical bay on the feast day celebrating the ""Body of Christ."" The city has the nicknames ""Texas Riviera"" and ""Sparkling City by the Sea"", particularly in literature promoting tourism.The city is home to the Port of Corpus Christi, the fifth largest in the United States, and is served by the Corpus Christi International Airport.The majority of the population is employed in the Services, Wholesale and Retail Trades and Government sectors. Corpus Christi has an unemployment rate of 7.0% as of July 2012.The Port of Corpus Christi, which is the fifth largest U.S. port and deepest inshore port on the Gulf of Mexico, handles mostly oil and agricultural products. Much of the local economy is driven by tourism and the oil & petrochemicals industry. In 2005, the Port was ranked as the 47th largest in the world by cargo tonnage.Corpus Christi is home to two installations of the United States military: the Corpus Christi Army Depot, and Naval Air Station Corpus Christi. Combined, these installations provide 6,200 civilian jobs to the local economy, making them the single largest employer in the city. Corpus Christi Army Depot, located on NAS Corpus Christi, is the largest helicopter repair facility in the world. A third military installation, also located on NAS Corpus Christi, is the United States Coast Guard Sector/Air Station Corpus Christi.Corpus Christi is the original home of the headquarters of Whataburger, a fast food restaurant operator and franchiser with 650 stores in ten states and Mexico; however, the company relocated its headquarters to San Antonio in 2009. Other large employers include CHRISTUS Spohn Health System at 5,400 local employees, the Corpus Christi Independent School District with 5,178, H-E-B at 5,000, and Bay Ltd. at 2,100. Other companies based in Corpus Christi include Stripes Convenience Stores and AEP Texas.Corpus Christi became the first major city to offer city wide free wi-fi[when?] in order to allow remote meter reading after a meter reader was attacked by a dog. In 2007, the network was purchased by Earthlink for $5.5 million, and stopped being a free service on May 31, 2007Corpus Christi (k�r'p?s kris'te) [key], city (1990 pop. 257,453), seat of Nueces co., S Tex.; inc. 1852. It is a port on Corpus Christi Bay at the entrance to Nueces Bay (at the mouth of the Nueces River). The city is an oil and gas center, with refineries, smelters, chemical works, and food-processing plants, as well as large seafood, fishing, and health-care industries. Sports-fishing facilities, beaches, and a mild climate make Corpus Christi a tourist and convention center, and it is the gateway to Padre Island National Seashore. Tradition holds that the bay was named by the Spanish explorer Alonzo Alvarez de Pineda, who found it on Corpus Christi Day in 1519, but there is evidence that it was named instead by the first settlers, who arrived from the lower Rio Grande valley in the 1760s. In 1839, Col. H. L. Kinney founded a trading post, and traders and adventurers collected in a raffish colony on land claimed by both Texas and Mexico. The small port and terminus for overland wagon-train traffic boomed during the Mexican War. It was briefly captured by the U.S. navy in the Civil War. Corpus Christi developed industrially after the discovery of oil in the area and the completion (1926) of a deepwater channel past Mustang Island.The city has many historical sites and is the seat of Texas A&M Univ.�Corpus Christi. A naval air station is on the southern shore of the bay. The city has suffered from occasional hurricanes; it is partially protected from flooding by a sea wall 12,300 ft (3,749 m) long, built between 1939 and 1941.

 

"

 

More Trucking Factoring Companies Story Articles

"

The Future of a Trucking Company, and Factoring Peter Roberts let the phone ring on his desk. He let his morning coffee cool and left his cigarette to ash itself in the tray, because he is trying to make the biggest decision ever for his trucking company. Roberts Trucking Company had reached a turning point and he now had to make a decision as to whether he should sign up with a factoring company, and indeed if this would be a good or regrettable decision for his business.

 

More than forty years ago Peter's father had started this business working as an owner-operator and eventually growing Roberts Trucking Company into a fifteen trailer fleet. There had been some hard times when it seemed everything was going to go under and even Peter�s mother strapped herself into a cab 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. But now things were different: the company was in Peter's hands and he needed to ensure that this business would be left in great 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 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 Roberts 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. Peter allowed himself a good hard chuckle. His father had been against placing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). His father days were long gone and technology was actually an important improvement for the business such as having Qualcomm to cut down on fruitless time communicating on the phone for bills of lading.

 

Peter knew he was right in his forward thinking. How would he take Roberts Trucking to the next level? 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. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

He wondered about factoring - was this the answer for him? If he was being honest, he did not really understand how it all worked. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. 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. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Now it was time for Peter to do his homework. Peter 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. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

However, it all turned out to be very simple. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He 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. 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. Factoring was based on the credit of his customers and on their reliability which worked well for Peter because he and his father had built up good strong relationships over decades with their list of clients. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients wouldn�t think poorly of Roberts 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, Peter 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 Roberts 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?� Jeremy Campbell asked as he leaned back in his chair, crossing his legs. The woman who sat across the desk smiled and shook her head.�No, not exactly,� she said.Jeremy Campbell 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 Bradley. His company was called Ramirez Trucking, named after both of his grandfathers, Johnny and Lee. Both of these men had been very hardworking and had set a great example for Bradley.Six months ago disaster struck Bradley's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. Jeremy depended on his full fleet, and missing two trucks was devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.A big problem a lot of trucking companies came across was how bills were paid in the industry. You could go a month or more before bills were completely paid off. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Jeremy wasn�t a bad owner, and he hadn�t messed up. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.That�s where the woman across the desk came in. Her name was Ruby and she worked for a factoring company. Jeremy had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.She sat there now, and explained. �it is really not a loan at all: we actually buy your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. This is a win-win situation: we are protected from a total loss, and you're protected from the ridiculous fees and charges you'd have to pay if you borrowed from a bank.Jeremy agreed. It sounded perfect - perhaps too good?.Ruby laughed. �You look like you don�t believe me,� she said.�Oh no, I do: it just sounds too good to be true. I thought I was going to lose my company.�Ruby smiled, agreeing. �We get that a lot. There's no way we want to see you lose your business. You work hard, you�ve put everything you can into it. Sometimes you need help. That�s what we�re here for.""Well, I'm very grateful that you came to see me today.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Ruby with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.

 

Jeremy completed the form, with Ruby offering advice as needed.

 

The profile filled Ruby and her company in on Bradley�s company, and would help them determine if he was suitable for factoring. Unfortunately, not all companies are. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. Listening as Jeremy filled out his form, Ruby was pretty sure he was a perfect candidate for factoring.When the form was done Ruby took it and slid it into her briefcase. Standing up, she reached over the desk and shook Bradley's hand. He also stood up, and they smiled at each other. Jeremy walked Ruby to the door where they said 'Goodbye', then he went back into his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He shut his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. But now, after speaking to Ruby and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.The long nights, where he couldn�t sleep. The sudden panic attacks, not matter where he was. 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 there, he was on the right path, and he was working to make things right.His mind wandered back to the very beginning, when he first started his business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been really successful. Offering home cooking in his own hometown, his business had really prospered.But he had gotten bored. His passion didn�t lie with the food industry. He thought long and hard, and then he decided to sell the restaurant. He took six months off, and during that time he decided to create Ramirez 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.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was about to turn 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. Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He did not want to quit - both for himself and for his staff members.And now it seemed as though he would not have to - all because of Factoring. Jeremy opened his eyes, sat forward, turned his computer on. He had lots 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

Precisely why Truck Firms Utilize Factoring Firms.

 

As the manager of your own business, you may well be much more than perceptive already of the hardship in making certain that cash flow concerns do not become a problem down the line. Anyway, the most terrible thing that can in all probability take place for your business is to find yourself embroiled in a long and tough predicament that leaves you forever trying to find the resources you necessitate on an continuing basis.

 

For just about any business in this scenario, the trouble can come for waiting for work to lapse and actually be repaid into your account. Invoices, checks, and the like can take some time to actually to be taken care of which can certainly leave you with temporary cash flow difficulties. The good news is, there are alternatives out there for industries to examine-- and just one of these is factoring agencies.

 

Factoring agencies will, in trade for your invoices, supply you with the funds now to ensure you do not have to fret about the lingering duration that could make paying off the expenses and obtaining toolsmore hard. With this form of setup, invoice factoring can become extremely valuable for various enterprises who have to get out of a money ploy which they have discovered themselves in.

 

Considering that, depending upon the size of the task, it can take up to 60 days for some businesses to get compensated then it is very important to blanket your own back and certainly not leave yourself money short to settle the monthly bills. After all, how many companies have two months cash flow just lying there to cover all their overheads until they earn?

 

This is primarily true of truck establishments. They often tend to handle lots of statements which means a huge quantity of collection time concerns company owner themselves. Trying to get paid promptly can end up being an amazing struggle and this is precisely why you make use of truck factoring providers who are happy to help out truckers exclusively.

 

As all of us realize, trucking is an astonishingly enormous market with many companies out there handling hundreds of operators. Regretfully, several of these drivers wind up in income difficulties since they are still waiting on work from six weeks previously to actually pay them. When this is the circumstance for a truck business, turning to factoring agencies for help might be the very best alternative left.

 

This means that a trucking business can pay off the paychecks of the workers, keep all the vehicles refilled with gas and continue to escalate, progress and expand without consistently waiting for the cash which is taking too lengthy to come in. Trucking Firms running without a factoring system implemented are leaving themselves at notable threat, as competitions cash out promptly and continue to broaden.

 

There's genuinely very little to be stressed about when it comes to utilizing a Factoring establishment-- they usually are not like a bank or someone who is going to leave you with a large mound of liability to pay back. You give them genuine invoices from job you have already accomplished , you are only facilitating the repayment system.

 

In the United states of America, where trucking establishments succeed, factoring enterprises are not considered taking on loan in any capacity. This private agreement then allows both parties to benefit and experience a worry-free future-- it gives the factoring provider a secured resource of profit to add to the list and it furnishes the trucking business the required finances that they sweated to obtain.

 

The trucking establishment provides their statements to the factoring company. The trucking factoring agency then collect the payment amounts from the trucking company's customers. Factoring has been all around for centuries and has been used for decades by plenty of diverse fields-- 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 partner with, it implies that you are receiving the resources today and can actually begin putting the resources to operate.

 

Anyway, an IOU or an invoice is not going to cover bills, is it? For trucking companies when the income can be excellent one day and gone the next, it is up to the drivers to work smartly and to ensure they are leaving themselves with a substantial amount of time and finance to get through the week till they are paid once again.

 

So the next occasion your trucking company is having some momentary cash flow problems and you are putting in a lot of time chasing sluggish paying customers, why not start taking into consideration making use of a factoring companies as a way to get your money and give yourself a more convenient future in the eyes of your trucking team 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. 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 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 finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to sell. Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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

 

1. 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. 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. 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 means that it is easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.

 

3. Receive Your Money Faster. With a Trucking Factoring company you can actually get the money you need faster. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.Interest is Paid Up Front. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you do not have to continue to pay interest as they take it right off the top, deducting it from the total amount of accounts receivable. So you do not have to worry about monthly loan repayments, and you do not have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. 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 efficient at debt collecting, and this frees up your valuable time to devote to running your 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.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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