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You Can Laugh at Money Worries - if You Follow This Simple Plan - Our Accounts Receivable Factoring Company Can Provide
Your Truck Company The Cash You Want

workingcapitalfactoring.org

trucking invoice factoring

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trucking invoice factoring companies

trucking factoring services

Small freight companies, specifically those who have not been in existence for very long, will frequently find it hard to protect a loan. Banks are commonly hesitant to provide cash to companies that do not have a lot of earnings and assets. They likewise want proof of the practicality of a business and therefore require that a lot of operations, particularly little ones, be in company for a specific quantity of time before they want to turn over any cash. Because of this, a medium-size company typically has a couple of cash producing options when requires occur. One alternative offered, however frequently ignored, is invoice factoring. This is an outstanding way for a small company to get money.

 

 

 

 

 

 

 

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

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

At one time or another, every company, even effective ones, have experienced bad money flow.

Money flow does not have to be an issue any ever more. Do not be fooled -- banks are not the only locations you can get financing. Other solutions are available and you do not have to borrow. What is trucking factoring ? One option is called truck factoring. Trucking Factoring is the process of offering accounts receivable to an investor instead of waiting to collect the cash from the client. Oh, the Irony- Truck factoring has a paradoxical distinction: It is the financial backbone of many of America's most successful businesses. Why is this paradoxical ? Since trucking factoring is not instructed in business colleges, is seldom discussed in company plans and is fairly unidentified to bulk of most of American company people.

Yet it is a financial procedure that frees billions of dollars every year, enabling thousands of businesses to grow and succeed. Receivable Loan Funding has actually been around for countless years. Invoice Factoring Businesses are financiers who pay money for the right to receive the future payments on your invoices. An overdue receivable or invoice has value. It is a financial obligation your client has to pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business transactions, a big portion of the retail company utilizes a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail transactions. Using the purest meaning of the word, these large customer finance business are truly just big Receivable Loan Funding Businesses of customer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The store makes money almost immediately, although you do not pay up until you are prepared.

For this service, the charge card business charges Sears a charge (typical common normal fees vary from 2 to 4 percent of the sale). The Advantages Receivable Funding can provide numerous benefits to cash-hungry companies. Rather than wait 30, 60, 90 days or longer for payment on an item that has actually already been provided, a business can factor (sell) its receivables for cash at a little price cut off the amount of the invoice. Payroll, marketing efforts, and working capital are simply a few of the business requirements that can be met with instant  cash.

Account Receivable Financing offers the means for a manufacturer to renew inventory and make more products to sell: There is no longer a requirement to await for earlier sales to be paid. FACTORING is not just a cash management device for producers: Almost any kind company can take advantage of Receivable Financing. Generally, a company that extends credit will have 10 to 20 percent of its annual sales tied up in invoices at any given time. Think for a minute about how much is bound in 60 days' worth of invoices: You can not pay the power bill or this week s payroll with a client s invoice, however you can sell that invoice for the cash to meet those obligations. Using truck factoring companies is a quick and easy process. The factor purchases the invoice at a discount, typically a couple of portion points less than the stated value of the invoice.

 

 

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The U.s. Truck Organization
states that there are about
195,000 truck drivers with transportation
firms and
250,000 personal providers trucking
firms certified to
operate in the United States that carried,
according to their newest searchings for billions of
items, materials and
standard products .
There are several typical
carriers either going solo or in
teams on our country
roadways transferring these
vital products to our
stores, factories and harbors.

Also truck factoring
corporations help
numerous of them and offer their
receivable loan services
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

 

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Virginia Beach is best known for its tourism but the military and agribusiness sectors contribute to the City's economy. The City's economy also contains a large retail component at places such as Lynnhaven Mall. Major companies headquartered in Virginia Beach Virginia Beach was ranked at number 45 on list of best places for business and careers.Tourism produces a large share of Virginia Beach's economy. With an estimated $857 million spent in tourism related industries, 14,900 jobs cater to 2.75 million visitors. City coffers benefit as visitors provide $73 million in revenue. Virginia Beach opened a Convention Center in 2005 which caters to large group meetings and events. Hotels not only line the Oceanfront but also cluster around Virginia Beach Town Center and other parts of the City. Restaurants and entertainment industries also directly benefit from Virginia Beach's tourism.Ecotourism has a large portion of the tourism market in Virginia Beach. There are many eco-adventures companies which offer tours on the land and on the water. Coyotes, foxes and bobcats can be seen inland of Virginia Beach in False Cape State Park. There are tours available to see dolphins in their natural habitat.The Virginia Aquarium & Marine Science Center conducts tours of the coast for bird sightings as well as whales if the season is right. They offer school field trips and overnight adventures into the various surrounding regions with a focus on education. Lessons for surfing, stand up paddling and kayaking are popular in the area. In the summer these programs may even offer dolphin sighting tours.Virginia Beach has a large agribusiness sector which produces $80 million for the city economy. One hundred-seventy-two farms exist in Virginia Beach, mostly below the greenline in the southern portion of the City. Farmers are able to sell their goods and products at the City's Farmer's Market. A VF-41 F-4J over NAS Oceana in the late 1960sVirginia Beach is home to several United States Military bases. These include the United States Navy's NAS Oceana and Training Support Center Hampton Roads, and the Joint Expeditionary Base East located at Cape Henry. Additionally, NAB Little Creek is located mostly within the city of Virginia Beach but carries a Norfolk address.NAS Oceana is the largest employer in Virginia Beach; it was decreed by the 2005 BRAC Commission that NAS Oceana must close unless the city of Virginia Beach condemns houses in areas designated as ""Accident Potential Zones."" This action has never been the position of the United States Navy; indeed, the Navy had not recommended NAS Oceana to the BRAC Commission for potential closure. The issue of closure of NAS Oceana remains unresolved as of May, 2008 [dubious � discuss]Both NAS Oceana and Training Support Center Hampton Roads are considered to be the largest of their respective kind in the world. Furthermore, located in nearby Norfolk is the central hub of the United States Navy's Atlantic Fleet, Norfolk Navy Base.[4

 

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

 

Click below to find Trucking Companies in the United States:

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

Life of a Truck driver, like many other professionals can be very challenging, rewarding, and frustrating at the same time. �The com� is an information site for many of the Truckers needs. It is designed to encompass the needs of the Trucker, both on the Road and at Home.

List of Trucking Companies for Owner/Operators and Company Drivers

 

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

 

 

"

Since the mid 1980s Taylor 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, Taylor was a top rated accounts receivable mastermind of the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. The money was flowing, and times were great.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 down. And worse yet, Taylor had noticed during the early part of 2008 that though the bulk of their clients were always on time with payments, the few late-bloomers there were, had seemingly started to spread this illness. And as spring turmed to summer and summer into the early days of fall, Thomas Lawrence, CEO of Taylor 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? 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. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Taylor hadn't gone elsewhere. They had just gone home.This current state-of-affairs was causing Thomas Lawrence to have some very restless nights. 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. After work he would confide in his wife, Dorothy, and neither were unable to stop the constant worry over the lack of funds.""I have a bad feeling, Lin,"" he would say with deep woe.""Well, what do you think it is?"" she would say.Thomas would stare off into the distance, and then slowly close his eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them on the road, delivering good to all his loyal customers. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. Why couldn�t he work out how to resolve this financial problem with his business?""I think I know what it could be,"" said Thomas. ""I've relied too long on the profits I receive from invoices alone. I've let too many of our customers go too long without paying on their bills."" 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.

 

""Thomas knew very well that Dorothy 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 Thomas walked into his office with a spring in his step, determined to call each and every client who owed money to Taylor Truck & Haul. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. Wasting money, wasting time - even with the best of intentions, Thomas knew that he was in trouble.

 

Poor Thomas spent the whole morning trying in vain to contact his debtors: they promised to call back, dodged his calls, or made small interest-only payments. He was beginning to feel quite despaired when his secretary knocked on his door.

 

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

 

""Sure thing Marilyn, come on in."" Thomas relaxed back into his chair and looked up at Marilynerley.""Well Thomas, 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 of factoring?"" she asked.""It does sound vaguely familiar. What is it?"" he said.She began, ""Well, it is really very simple. So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Immediately?"" Thomas interrupted.""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. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It provides a very broad view.""Thomas replied cautiously ""I see - and what happens then?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. There�s a lot of flexibility depending on the business volume and credit histories. This company tells us what the cost will be to purchase factoring for our accounts receivable. We come to an agreement and the funding starts pouring out.�Thomas was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Marilyn,"" he said.""Now, now, I know, I thought the same thing. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. And they're flexible Thomas,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" asked Thomas.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. Apparently they can figure this all out in two to four days.

 

""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" said Thomas.Thomas 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.""Thomas thought about this and agreed with Marilynerley. The customers who were in debt to Taylor Truck & Haul were professional resources of the company, but they were also long-standing friends. Thomas wasn't prepared to lose these relationships just because they were having financial issues at the moment. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. That unknown amount of time could create a disaster situation for both of them if he wasn't careful in how these debtors were handled. Of course he did not want to lose any more money, but he did not want to lose business either.""Let me go over this tonight Marilyn, and thankyou."" Marilyn nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Thomas 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 Taylor 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, Taylor could receive up to fifty-percent cash advances upon load pick-ups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""Well, I'll have to tell Micheal about this,"" muttered Thomas to himself.His son-in-law Micheal had liked the idea of Taylor so much and revered his father in law for having such business acumen that only two years before, he had gathered the venture capital to begin his own transportation service company. At that time Thomas knew the struggles Micheal would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Taylor was struggling then the little guys, like Micheal, were going to be in even more trouble.

 

But, maybe the answer for both of them was in freight factoring, and Thomas was going to find out very soon.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, Thomas found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They used that time to refocus their efforts in being competitive in new territories. Thomas looked back on the dismal months of life before freight factoring and almost shuddered at the thought. He probably wouldn't be in business today had he not learned just in time about freight factoring.

 

"

 

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Virginia Beach is best known for its tourism but the military and agribusiness sectors contribute to the City's economy. The City's economy also contains a large retail component at places such as Lynnhaven Mall. Major companies headquartered in Virginia Beach Virginia Beach was ranked at number 45 on list of best places for business and careers.Tourism produces a large share of Virginia Beach's economy. With an estimated $857 million spent in tourism related industries, 14,900 jobs cater to 2.75 million visitors. City coffers benefit as visitors provide $73 million in revenue. Virginia Beach opened a Convention Center in 2005 which caters to large group meetings and events. Hotels not only line the Oceanfront but also cluster around Virginia Beach Town Center and other parts of the City. Restaurants and entertainment industries also directly benefit from Virginia Beach's tourism.Ecotourism has a large portion of the tourism market in Virginia Beach. There are many eco-adventures companies which offer tours on the land and on the water. Coyotes, foxes and bobcats can be seen inland of Virginia Beach in False Cape State Park. There are tours available to see dolphins in their natural habitat.The Virginia Aquarium & Marine Science Center conducts tours of the coast for bird sightings as well as whales if the season is right. They offer school field trips and overnight adventures into the various surrounding regions with a focus on education. Lessons for surfing, stand up paddling and kayaking are popular in the area. In the summer these programs may even offer dolphin sighting tours.Virginia Beach has a large agribusiness sector which produces $80 million for the city economy. One hundred-seventy-two farms exist in Virginia Beach, mostly below the greenline in the southern portion of the City. Farmers are able to sell their goods and products at the City's Farmer's Market. A VF-41 F-4J over NAS Oceana in the late 1960sVirginia Beach is home to several United States Military bases. These include the United States Navy's NAS Oceana and Training Support Center Hampton Roads, and the Joint Expeditionary Base East located at Cape Henry. Additionally, NAB Little Creek is located mostly within the city of Virginia Beach but carries a Norfolk address.NAS Oceana is the largest employer in Virginia Beach; it was decreed by the 2005 BRAC Commission that NAS Oceana must close unless the city of Virginia Beach condemns houses in areas designated as ""Accident Potential Zones."" This action has never been the position of the United States Navy; indeed, the Navy had not recommended NAS Oceana to the BRAC Commission for potential closure. The issue of closure of NAS Oceana remains unresolved as of May, 2008 [dubious � discuss]Both NAS Oceana and Training Support Center Hampton Roads are considered to be the largest of their respective kind in the world. Furthermore, located in nearby Norfolk is the central hub of the United States Navy's Atlantic Fleet, Norfolk Navy Base.[4

 

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More Trucking Factoring Companies Story Articles

"

The Future of a Trucking Company, and Factoring Lloyd Dunn 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. Dunn Trucking Company was at a turning point of growth and Lloyd had to decide if signing with a factoring company was the right way forward.

 

More than forty years ago Lloyd's father had started this business working as an owner-operator and eventually growing Dunn Trucking Company into a fifteen trailer fleet. Yes, they had survived some very difficult times when it appeared like they might go under, and even Lloyd'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. But now things were different: the company was in Lloyd'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. He had employees to pay. They all have families and the usual household bills. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. He knew that turning down these requests made Dunn 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. Lloyd allowed himself a good hard chuckle. He remembered when his father was totally against installing 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.

 

Lloyd believed a successful man is always thinking of his next step. What would be the next step for Dunn Trucking? And how would he be able to afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

But was factoring the answer? 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 Lloyd 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! 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?

 

But it turned out to be quite easy. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He didn�t mind signing an exclusive contract. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. Many companies offered a non-recourse factoring program that suited him just fine. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It was good money.

 

It was really refreshing dealing with the factoring people. They were extremely helpful and more personable than the bank staff. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar 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 Lloyd because he and his father had created a very strong and loyal list of clientele over the years. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients would not have any problems, nor would they think poorly of Dunn 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.

 

Feeling happier now, Lloyd 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. With the capabilities of this new cash flow, Lloyd could actually expand Dunn Trucking Company further across the country and perhaps even go international into Canada. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

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Watch Our Trucking Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

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�So It is not a loan?� asked Max Stephens, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�No, not exactly,� she said.Max was the owner of a small trucking company which had fallen on some hard times recently. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Darrell. He named his business Wood Trucking, named after Andre and Johnny, his two grandfathers. They had both been hardworking men, and had done a lot to make Max the same.Disaster had struck half a year ago, when two trucks in Darrell�s fifteen truck fleet went down. One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. Max 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. Waiting a month or longer for bills to be paid was quite normal. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Max 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.And that's why he found himself across the desk from this woman. Max knew she was employed by a Factoring company and that her name was Marian. 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 aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. That way we�re protected from a complete loss, but you�re protected from the outrageous fees you would find in a loan from the bank.Max agreed. It sounded perfect - perhaps too good?.Marian laughed. �I'm not sure that you 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.�Marian smiled, agreeing. �Yes, we get a lot of that. Listen, I�d hate to see you lose your company. You work hard, you�ve put everything you can into it. Sometimes you need help. That�s 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 Marian with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Max completed the form, with Marian offering advice as needed.

 

The completed profile gave Marian and her company all the information they needed on Darrell's business, and with this information they would determine if this business would in fact be suitable for Factoring. Unfortunately, not all companies are. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. Listening as Max filled out his form, Marian was pretty sure he was a perfect candidate for factoring.When the form was done Marian took it and slid it into her briefcase. She then stood, reached across the desk and shook Darrell�s hand. He stood before they shook as well, and then smiled. They said their goodbyes and Max walked her to the door, and then returned to his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He 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 Marian 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.All those long, sleepless nights. The sudden panic attacks, not matter where he was. Already he could feel all the stress start to drain away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.His mind wandered back to the very beginning, when he first started his business. 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 about it for a long time, then decided it was time to sell his restaurant. He took six months off, and during that time he decided to create Wood Trucking. And that's exactly what he did. For the second time in his short life he created a company from the ground up. The business had been an instant success.And then the trucks went down, and his success looked to be in flux. He was about to turn fifty. He didn�t think he had it in him, to save this company. But he couldn�t give up. Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He didn�t know how to say quit.And now, because of factoring, he was sure he wouldn�t have to. Darrell's eyes opened, he sat forward in his chair and turned on his computer. He had things to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

Precisely why Trucking Corporations Utilize Factoring Companies.

 

As the owner of your own firm, you may likely be much more than conscious already of the hardship in making certain that capital concerns do not become a difficulty down the line. After all, the most horrible thing that can potentially come about for your enterprise is to find yourself swept up in a long and tough situation that leaves you forever looking for the cash you necessitate on an recurring basis.

 

For just about any business in this predicament, the issue can come for waiting for work to clear up and actually be paid into your statement. Bill of sales, checks, and the like could take a while to actually to be taken care of which could leave you with temporary capital difficulties. Thankfully, there are options out there for establishments to investigate-- and one of these is factoring agencies.

 

Factoring providers will, in trade for your invoices, supply you with the cash right away to ensure you do not need to fret about the lingering phase that could make paying the bills and purchasing materialsmore complicated. With this style of arrangement, invoice factoring can end up being exceptionally valuable for lots of enterprises who need to avoid a money pitfall which they have discovered themselves in.

 

Considering that, basing on the volume of the task, it can take up to 60 days for a number of firms to get compensated then it is crucial to take care of your own back and not leave yourself money short to pay off the bills. After all, how many establishments have two months cash flow just lying there to address all their bills until they make money?

 

This is primarily true of truck firms. They usually manage numbers of invoices which means a significant quantity of collection period entails company owner themselves. Trying to get paid off promptly can develop into an amazing difficulty and this is precisely why you utilize truck factoring providers who are thrilled to help out truckers primarily.

 

As most of us realize, trucking is an exceptionally enormous business with many firms out there utilizing hundreds of operators. However, many of these drivers wind up in finances predicaments simply because they are still expecting work from six weeks back to actually pay them. When this is the situation for a trucking company, choosing factoring firms for support may be the ideal option left.

 

This implies that a trucking corporation can pay the salaries of the personnel, keep all the cars refilled with gas and continue to scale, rise and expand without consistently waiting for the finances which is taking too long to come in. Trucking Firms working without a factoring program used are leaving themselves at substantial threat, as competitions cash out fast and proceed to broaden.

 

There's genuinely not a thing to be distressed about when it comes to using a Factoring business-- they are not like a bank or an individual who is going to leave you with a substantial stack of personal debt to pay back. You give them authentic invoices from work you have already accomplished , you are only just expediting the payment system.

 

In the United States, where trucking establishments grow, factoring companies are not considered taking on loan in any capacity. This private arrangement then lets both groups to benefit and indulge in a good future-- it gives the factoring company a guaranteed asset of income to include in the list and it furnishes the trucking business the needed cash that they sweated to earn.

 

The trucking company provides their accounts to the factoring agency. The trucking factoring firm then collect the payment amounts from the trucking company's customers. Factoring has beenaround for centuries and has been used for decades by a lot of diverse markets-- but none exceeding so than truckers. While you may well miss out on a small part of the money, something like 1-3 % depending on who you deal with, it means that you are acquiring the resources today and can actually begin setting the cash to perform.

 

Once and for all, an IOU or an invoice is certainly not going to finance spendings, is it? For trucking firms when the resources can be good one day and gone the next, it is up to the drivers to work prudently and to make sure they are leaving themselves with a notable quantity of time and money to get through the week up until they are paid for once more.

 

So the next moment your trucking establishment is bearing some temporary capital concerns and you are spending a lot of time chasing sluggish paying clients, why not begin looking into employing a factoring companies as a means to get your cash and give yourself a more pleasant future in the eyes of your trucking workers and your bank balance?

 

 

 

 

 

 

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Traditional Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. These loans can be a life-saver, but they're not always available to every business. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. 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 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. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once you have set up Trucking Factoring account it continues as long as you wish it too and the amount of money available to you even can grow as your business grows, giving you the ready cash you need to meet your own obligations.

 

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

 

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

 

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

 

2. There's no collateral required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This means that it is easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.

 

3. You'll receive the money faster. With a Trucking Factoring company you can actually get the money you need faster. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.Interest is Paid Up Front. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you do not have to continue to pay interest as they take it right off the top, deducting it from the total amount of accounts receivable. So not only are you relieved of those monthly loan payments, but you also do not have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

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