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New Factoring Program Leaves Your Company Rolling in Profits - Our Trucking Factoring Company Can Give
Your Freight Company The Cash You Want

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freight invoice factoring

Invoice Factoring is beneficial for numerous reasons. It permits a truck firm to raise money without getting brand-new financial obligation. While debt is often needed, a lot of trucking firms would prefer to raise cash without borrowing money. Debt is high-risk, and when it cannot be repaid, possessions can be repossessed. If the financial obligation is big enough, it may even force a freight brokerage out of business.

 

 

 

 

 

 

 

How To Rob Banks Legally - Select A Freight�Invoice Factoring Company  Instead Of A Regular Bank Funding

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

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

Cash flow does not have to be an issue any ever more. Do not be deceived -- banks are not the only locations you can get funding. Other options are offered and you do not have to borrow money. What is truck factoring ? One solution is called truck factoring. Trucking Factoring is the procedure of selling invoices to a financier instead of waiting to collect the cash from the customer. Oh, the Irony- Truck factoring has an ironic distinction: It is the financial backbone of numerous of America's most successful businesses. Why is this ironic ? Because receivable funding is not instructed in business colleges, is rarely discussed in business plans and is fairly unknown to the majority of most of American business people.

Yet it is a monetary process that frees billions of dollars every year, enabling thousands of companies to grow and succeed. Truck Factoring has been around for countless years. Receivable Loan Funding Companies are financiers who pay cash for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a debt your customer has agreed pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business transactions, a large portion of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail deals. Using the purest meaning of the word, these large consumer finance business are really simply large Receivable Funding Businesses of customer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The store makes money practically immediately, although you do not pay until you are ready.

For this service, the credit card company charges Sears a fee (typical common normal charges range from 2 to four percent of the sale). The Benefits Receivable Financing can offer numerous advantages to cash-hungry companies. Rather than wait 30, 60, 90 days or longer for payment on a product that has actually currently been delivered, a business can factor (sell) its receivables for money at a small price cut off the dollar value of the invoice. Payroll, advertising efforts, and working capital are just a few of the company requirements that can be satisfied with instant  cash.

Receivable Loan Funding offers the means for a manufacturer to replenish inventory and make more products to offer: There is no longer a need to wait for earlier sales to be paid. Receivable Loan Financing is not simply a cash management device for producers: Almost any type company can benefit from Staffing Factoring. Generally, a business 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 exactly how much is tied up in 60 days' worth of invoices: You can not pay the power bill or today s payroll with a customer s invoice, but you can sell that invoice for the cash to meet those responsibilities. Using truck factoring companies is a quick and easy procedure. The factor buys the invoice at a discount, usually a couple of percentage points less than the stated value of the invoice.

 

 

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The United states Transportation Organization
mentions that there around
205,000 workers with transportation
businesses and
276,000 personal companies trucking
companies accredited to
run in the United States that carried,
according to their most current searchings for billions of
products, supplies and
fundamental products .
There are a number of usual
providers either going solo or in
groups on our nation
roadways transferring these
vital items to our
shops, manufacturingplants and shipping ports.

Also truck factoring
businesses support
several of them and offer their
factoring 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

 

Honolulu is the capital and largest city of Hawaii, on the southeast coast of the island of Oahu. The city is legally coextensive with the county of Honolulu, which includes the entire island of Oahu and most of the Northwest Hawaiian Islands, from Nihoa to Kure Atoll, except Midway. The population of Oahu makes up 73% of the state's total population. It is situated in the central Pacific Ocean 2,397 mi west-southwest of San Francisco. Honolulu's name derives from the native words hono, meaning �a bay,� and lulu, meaning �sheltered.�Honolulu's early history was one of turbulence and coict. One of the last areas on the globe to be explored and exploited by Europeans (it was first visited by British captain James Cook in 1778), Hawaii was subject to strong pressures from many forces, including American missionaries, who arrived in 1820, and opportunistic whalers. These whalers were among those who built Honolulu originally, bringing trade, commerce, and prosperity that led to expansion into the sugar and pineapple industries.As early as 1814, Russia tried to move in, and Russian soldiers built a bastion at the harbor's edge. The British flag was raised in 1843 and French forces occupied Honolulu in 1849. Each time control was returned to the independent native kingdom without bloodshed. In 1898, a group of Americans completed a project attempted at intervals during the previous 65 years�annexation to the United States. Honolulu was incorporated as a city in 1907.The Honolulu area was bombed by Japan in a surprise attack on the unprepared U.S. naval base at Pearl Harbor on Dec. 7, 1941. This action forced the United States to enter World War II. �Remember Pearl Harbor� became a famous American wartime slogan.Hawaiian statehood in 1959 and the viability of commercial air travel to the island brought boom times to Honolulu. Tourism is the city's principal industry, followed by federal defense expenditures and agricultural exports (chiefly pineapples).

 

 

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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):
Enter the amount of your monthly factoring loans company payment:
(invoice amount):
Enter the your factoring loans company's current interest rate:

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

 

If you're like most drivers, you're looking for a better company in trucking that might be offering the best jobs in terms of pay, freight, and hometime ' not to mention benefits or a sign on bonus. We've got all of our clients listed based on the states where they're hiring, so you can quickly find the best job in your home state. You'll see the very best nationwide trucking companies that have positions available.

 

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.

Searching for the right trucking companies to move your freight can be tough, with the large amount of local, regional, and national truck carriers out there. Center helps make freight shipping simple, finding you the safest, reliable trucking companies every time you ship. Trucking companies are licensed and insured to carry freight safely and efficiently across the country, no matter the size or type of freight you need to ship.Plus, with the high volume of freight we move, we will work to get you the best freight rates possible. Simply enter in a few details below and you�ll see instant freight rates from all the top trucking companies in one easy screen

 

Searching for the right trucking companies to move your freight can be tough, with the large amount of local, regional, and national truck carriers out there. Center helps make freight shipping simple, finding you the safest, reliable trucking companies every time you ship. Trucking companies are licensed and insured to carry freight safely and efficiently across the country, no matter the size or type of freight you need to ship.Plus, with the high volume of freight we move, we will work to get you the best freight rates possible. Simply enter in a few details below and you�ll see instant freight rates from all the top trucking companies in one easy screen

 

 

"

Since the mid 1980s Crawford Truck & Haul have been successfully running their freight business. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the heady times from 2002 to 2007, Crawford 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.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

 

. Worse still, it was noticed by Crawford in early 2008 that even though most of their loyal customers were on time with their payments, there were a few late bloomers who were starting to spread the disease. And as spring turmed to summer and summer into the early days of fall, Ray Barnes, CEO of Crawford felt a chill go down his spine whenever he would look at the weekly A/R reports. There was a growing list of clients who now owed them back debt.He had already been to the administrators to ask what the actual problem was. Were they doing something wrong or different when it came to reaching out to delinquent accounts? By his bookkeepers records, this wasn't the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. 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 Crawford hadn't gone elsewhere. They had just gone home.The situation looked dire to Ray Barnes. He had employees to pay, goods to ship, trucks to maintain and overhead that was almost unbearable when compared against the lack of funds that were coming in. At night he would speak to his wife Esther and shake his head in frustration.

 

""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would say.Ray would stare off into the distance, and then slowly close his eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them traveling, bringing goods to all of his clients. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. What on earth was happening to create the death of his business?""I know what it is,"" said Ray. ""I've relied too long on the profits I receive from invoices alone. For too long I've been allowing our clients to let their accounts become overdue."" Esther would look at her husband lovingly, and holding his hand would say 'it is such a harsh economy these days and our clients must be having difficulty meeting their responsibilities'.""Ray knew his wife meant well, but he knew that he was responsible for too many people to sit idly by, waiting for the sun to peak over the clouds.The next day Ray strolled into his office and was determined to sit down and make every phone call to every client who had owed Crawford money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Ray knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. A waste of time - a waste of money - he had the best intentions, but all the while Ray was realising just how much trouble he was in.After a half day of contacting debtors in vain - they dodged his calls or promised to call back at worst or made minimal interest-only payments at best - he was about to throw in the towel when his secretary Terrierley knocked at his door.

 

""Can I have a word with you Ray?"" she asked standing in the doorway.

 

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

 

So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Immediately?"" Ray interrupted.""Immediately, yes"" she added, ""it is actually very simple. 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.""Ray replied cautiously ""I see - and what happens then?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

This company tells us what the cost will be to purchase factoring for our accounts receivable. The funding commences once we�ve arrived at an agreement.�Leaning forward, Ray studied the documents very closely.""I do not know, Terri - it just sounds too good to be true"", Ray said quietly.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Ray: they've guaranteed that experts will do all the paperwork, and that will free us up to do what we should be doing - focusing on our customers in good standing, and that kind of stuff. And they're flexible Ray,"" she underlined a paragraph on the paper before him.""Just how flexible?"" he asked.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. 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,"" said Ray.Ray took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Ray took a moment to think about this solution, and agreed with his secretary. The clients who owed them money were long standing friends and professional resources of Crawford. Just because they were experiencing difficulties paying their own bills now, Ray was very concerned about losing these relationships. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. That unknown amount of time could create a disaster situation for both of them if he wasn't careful in how these debtors were handled. Of course he did not want to lose any more money, but he did not want to lose business either.""Well, let me think about this tonight Terri, thank you."" Terri nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Ray keep the shirt on his back, and possibly hers too.Ray sat behind his desk and looked over the details Terri had not mentioned in their meeting. What other issues could freight factoring help Crawford with? Running his pencil down the sheet, he noted that the freight factoring company could assist with fuel costs, fuel advances, and fuel discount cards. In fact, Crawford could receive up to fifty-percent cash advances upon load pick-ups. Ray 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.""Well, I'll have to tell Marc about this,"" muttered Ray to himself.Marc is Ray's son-in-law, and he really admired the ideas behind Crawford, so much so that only two years before he had started his own transportation service business. At that time Ray knew the struggles Marc would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Crawford was hurting, a little guy like Marc was about to catch his death. Perhaps the antidote to these problems was in freight factoring, and they were about to find out.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Ray found himself beginning to dig his way out of the hole his delinquent account holders had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They used that time to refocus their efforts in being competitive in new territories. Ray 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.

 

"

 

Honolulu is the capital and largest city of Hawaii, on the southeast coast of the island of Oahu. The city is legally coextensive with the county of Honolulu, which includes the entire island of Oahu and most of the Northwest Hawaiian Islands, from Nihoa to Kure Atoll, except Midway. The population of Oahu makes up 73% of the state's total population. It is situated in the central Pacific Ocean 2,397 mi west-southwest of San Francisco. Honolulu's name derives from the native words hono, meaning �a bay,� and lulu, meaning �sheltered.�Honolulu's early history was one of turbulence and coict. One of the last areas on the globe to be explored and exploited by Europeans (it was first visited by British captain James Cook in 1778), Hawaii was subject to strong pressures from many forces, including American missionaries, who arrived in 1820, and opportunistic whalers. These whalers were among those who built Honolulu originally, bringing trade, commerce, and prosperity that led to expansion into the sugar and pineapple industries.As early as 1814, Russia tried to move in, and Russian soldiers built a bastion at the harbor's edge. The British flag was raised in 1843 and French forces occupied Honolulu in 1849. Each time control was returned to the independent native kingdom without bloodshed. In 1898, a group of Americans completed a project attempted at intervals during the previous 65 years�annexation to the United States. Honolulu was incorporated as a city in 1907.The Honolulu area was bombed by Japan in a surprise attack on the unprepared U.S. naval base at Pearl Harbor on Dec. 7, 1941. This action forced the United States to enter World War II. �Remember Pearl Harbor� became a famous American wartime slogan.Hawaiian statehood in 1959 and the viability of commercial air travel to the island brought boom times to Honolulu. Tourism is the city's principal industry, followed by federal defense expenditures and agricultural exports (chiefly pineapples).

 

 

More Trucking Factoring Companies Story Articles

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

 

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

 

To move Olson Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. He had employees to pay. They had families and household bills too. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. Every time he had to turn down a request, Olson Trucking looked weak in a very strong market.

 

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

 

Jorge believed a successful man is always thinking of his next step. How would he take Olson Trucking to the next level? More importantly, how could he afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

He wondered about factoring - was this the answer for him? There was a lot he didn�t understand about the process. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Now it was time for Jorge to do his homework. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

However, it all turned out to be very simple. 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 was quite happy to sign an exclusive contract. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. Many companies offered a non-recourse factoring program that suited him just fine. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It sounded like a great scheme to him.

 

It was really refreshing dealing with the factoring people. They were extremely helpful and more personable than the bank staff. 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 were not interested in his credit nor the financial problems his father had experienced in the past. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Jorge 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 Olson 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.

 

Jorge 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 Olson Trucking Company and who knows, move into Canada, which had always been his dream. His heart felt full knowing his sons wouldn�t have to worry about money because of the right decisions he had made for their trucking business.

 

 

 

 

 

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Trucking Factoring  Articles

"

�So It is not a loan?� Gerald Daniels asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Gerald smiled at him, shaking her head.�Not quite,� she said.Gerald 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 Jacob. He named his business Johnston Trucking, named after Ruben and Marshall, his two grandfathers. They had both been hardworking men, and had done a lot to make Gerald the same.Six months ago disaster struck Jacob's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. Gerald 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.Gerald was an excellent business man, and he certainly hadn't done anything wrong. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.That�s where the woman across the desk came in. Her name was Barbara and she worked for a factoring company. He had accidentally come across her company one night when he was working late, searching the internet to see if there was some solution to his financial dilemma.She sat there now, and explained. �It�s not a loan, we purchase your accounts receivable. we are not giving you finance to be repaid later: we are purchasing something from you, and when you can you can buy it back. 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.Gerald nodded. It sounded perfect - perhaps too good?.The woman laughed. �I'm not sure that you believe me,� she chuckled.�No, I do, I just think it sounds a bit too good to be true. I thought I was going to lose my company.�Barbara smiled, agreeing. �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. We all need help sometimes. That's why we do what we do.""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,� Barbara said with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Gerald completed the form, with Barbara offering advice as needed.

 

The profile filled Barbara and her company in on Jacob�s company, and would help them determine if he was suitable for factoring. In truth, not all companies were. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. As Gerald completed his form, Barbara listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Barbara took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Jacob�s hand. He also stood up, and they smiled at each other. They said their goodbyes and Gerald walked her to the door, and then returned to his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He leaned back and closed his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. Talking to Barbara 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. Already he could feel all the stress start to drain away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was there, he was on the right path, and he was working to make things right.Gerald couldn�t help but think back to when he had first started the business. At twenty-two and straight out of school he had opened a restaurant. It had been really successful. Offering home cooking in his own hometown, his business had really prospered.But he had gotten bored. He wasn't passionate about the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took half a year off, and in that time he thought to start Johnston 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 didn�t think he had it in him, to save this company. But giving up wasn't part of his personality either.

 

The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He didn�t know how to say quit.And now it seemed as though he would not have to - all because of Factoring. Jacob's eyes opened, he sat forward in his chair and turned on his computer. He had things to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

Why Trucking Companies Use Factoring Companies.

 

As the owner of your own company, you may perhaps be more than conscious already of the challenge in making sure that capital matters do not become a dilemma down the line. After all, the toughest thing that can potentially occur for your firm is to find yourself embroiled in a long and tough predicament that leaves you forever searching for the resources you need on an ongoing basis.

 

For any sort of business in this situation, the dilemma can come for waiting for work to lapse and actually be settled into your bank account. Bill of sales, checks, and the like can take a long time to actually to beprocessed which may leave you with short-term cash flow troubles. Fortunately, there are solutions out there for businesses to investigate-- and one of these is factoring providers.

 

Factoring providers will, in exchange for your statements, offer you with the cash immediately to ensure that you do not need to worry about the waiting time span which could make paying out the bills and acquiring materialsmore difficult. With this type of system, invoice factoring can become incredibly beneficial for a lot of firms who have to get out of a cash lure which they have found themselves in.

 

Given that, depending on the volume of the task, it can take up to 60 days for many businesses to get paid then it is significant to cover your own back and definitely not leave yourself resources short to pay off the expenses. After all, how many businesses possess two months income just lying there to pay for all their bills till they make money?

 

This is especially true of trucking firms. They generally manage great deals of invoices which means a substantial volume of collection period involves business owner themselves. Trying to get paid off in time can eventually become an unbelievable trouble and this is the key reasons why you use trucking factoring organizations who are pleased to help out truckers exclusively.

 

As we all know, trucking is an extremely big business with countless firms out there utilizing hundreds of vehicle drivers. Unfortunately, numerous of these drivers land up in finances difficulties since they are still awaiting work from six weeks ago to actually pay them. When this is the case for a truck organization, resorting to factoring agencies for assistance might be the most recommended choice left.

 

This means that a truck organization can pay off the wages of the personnel, keep all the trucks topped off with gas and continue to scale, develop and expand without consistently waiting for the resources which is taking too long to come in. Trucking Enterprises working without a factoring program used are leaving themselves at substantial danger, as competitors cash out fast and carry on to grow.

 

There's absolutely almost nothing to be distressed about when it comes to using a Factoring establishment-- they are not like a bank or somebody who is going to leave you with a considerable heap of personal debt to repay. You give them legitimate invoices from output you have already wrapped up , you are only just facilitating the repayment system.

 

In the United states of America, where trucking companies grow, factoring establishments are not considered borrowing in any capacity. This confidential deal then makes it possible for both groups to profit and delight in a comfortable future-- it provides the factoring company a secured resource of income to put into the list and it offers the trucking business the needed finances that they worked hard to earn.

 

The trucking company presents their invoices to the factoring agency. The trucking factoring business then acquire the payment amounts from the trucking company's customers. Factoring has beenaround for hundreds of years and has been utilized for decades by a lot of varying markets-- but none much more so than truckers. While you might miss out on a small part of the money, something like 1-3 % depending on who you deal with, it signifies that you are obtaining the funds today and can actually begin putting the cash to operate.

 

Anyway, an IOU or an invoice is definitely not going to cover costs, is it? For trucking establishments when the money can be very good one day and gone the next, it is up to the vehicle drivers to work smartly and to ascertain they are leaving themselves with a considerable quantity of time and money to get through the week up until they are paid for once more.

 

So the next moment your trucking business is enduring some momentary capital concerns and you are shelling out a bit too much time chasing slow paying clienteles, why not start off thinking about using a factoring companies as a way to get your money and give yourself a more pleasant future in the eyes of your trucking crew and your bank difference?

 

 

 

 

 

 

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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. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

What Are 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. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. 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. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

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. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This means that it is easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.

 

3. Receive Your Money Faster. 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 from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

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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