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The Instrument of Profitable Companies - Our Freight Factoring Company Can Provide
Your Trucking Company The Cash You Want

financingreceivable.com

freight broker factoring

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factoring trucking receivables

Truck Factoring is beneficial for several reasons. It allows a trucking business to raise money without obtaining new financial obligation. While financial obligation is in some cases essential, most truck businesses would like to raise cash without borrowing money. Financial obligation is dangerous, and when it can not be paid back, assets can be repossessed. If the debt is huge enough, it might even require a freight broker firm out of business.

 

 

 

 

 

 

 

Cash Flow Satisfaction- or Else! - Pick A Trucking�Factoring Company  Instead Of A Regular Bank Financing

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

At one time or another, every company, even effective ones, have experienced poor cash flow.

Money flow does not have to be an issue any more. Do not be deceived -- banks are not the only places you can get funding. Other options are available and you do not have to borrow money. Exactly what is trucking factoring ? One solution is called trucking factoring. Trucking Factoring is the process of offering invoices to a financier rather than waiting to collect the cash from the customer. Oh, the Irony- Trucking factoring has an ironic difference: It is the monetary foundation of numerous of America's most effective companies. Why is this ironic ? Because receivable funding is not taught in business colleges, is rarely discussed in business strategies and is relatively unidentified to bulk of most of American business individuals.

Yet it is a monetary procedure that frees billions of dollars every year, allowing thousands of businesses to grow and succeed. Receivable Loan Financing has actually been around for thousands of years. Receivable Financing Companies are investors who pay money for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your client has agreed pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business deals, a big portion of the retail company utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a type of factoring in their retail transactions. Using the purest definition of the word, these big consumer finance business are truly just large FACTORING Companies of consumer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The store gets paid practically immediately, although you do not make payment until you are prepared.

For this service, the charge card company charges Sears a charge (typical common normal charges vary from 2 to four percent of the sale). The Benefits Invoice Factoring can provide many benefits to cash-hungry companies. Instead of waiting 30, 60, 90 days or longer for payment on an item that has already been provided, a business can factor (sell) its receivables for money at a little price cut off the dollar value of the invoice. Payroll, marketing efforts, and working capital are simply a few of the company requirements that can be satisfied with instant  money.

Accounts Receivable Factoring provides the means for a manufacturer to renew stock and make more products to sell: There is no longer a need to await for earlier sales to be paid. FACTORING is not simply a money management device for producers: Almost any type company can benefit from Factoring. Generally, a company that extends credit will have 10 to 20 percent of its yearly sales tied up in accounts receivable at any given time. Think for a minute about how much is bound in 60 days' worth of invoices: You can not pay the power bill or today s payroll with a customer s invoice, however you can sell that invoice for the money to meet those responsibilities. Using trucking factoring companies is a quick and simple procedure. The factor purchases the invoice at a discount, typically a couple of portion points less than the face value of the invoice.

 

 

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The United states Trucking Organization
specifies that there are about
200,000 work with truck
companies and
276,000 private providers trucking
firms licensed to
operate in America that transported,
according to their most current searchings for billions of
items, materials and
basic materials .
There are a number of typical
providers either going solo or in
groups on our country
roads carrying these
vital products to our
shops, factories and harbors.

Also truck factoring
companies benefit
numerous of them and offer their
accounts receivablesfinancing services
nationwideincluding
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

 

"

Everett is the county seat of and the largest city in Snohomish County, Washington, United States.[6] Named for Everett Colby, son of founder Charles L. Colby,[7] it lies 25 miles (40 km) north of Seattle. The city had a total population of 103,019 at the 2010 census, making it the 7th largest in the state and fifth-largest in the Puget Sound area. It received an All-America City Award in 2002.Everett is home to the largest public marina on the west coast of the United States[8] and is the western terminus of the western segment of U.S. Route 2. It is also home to assembly plant for the 747, 767, 777 and the new 787. Everett facility is known for being the largest building in the world by volume at 116.5 million cubic feet (3,300,000 m3).In 1984, Everett was selected as the site of a U.S. Navy Homeport, Naval Station Everett. The Naval Station formally opened in 1992 and on January 8, 1997 welcomed the aircraft carrier USS Abraham Lincoln. The Lincoln is no longer homeported in Everett as of Winter, 2011. The aircraft carrier, USS Nimitz (CVN-68) has replaced the Lincoln as Everett's homeported ship, as of March 9, 2012. Everett is also home to the Port of Everett, an international shipping port, that brings trade, commerce, jobs and recreational opportunities to the city.In 2003, Xfinity Arena (then known as Everett Events Center), effectively opened Everett to tourism. The $83 million arena continues to host events, once exclusive to Seattle's KeyArena, to present day. From concerts to trade shows, hockey (Everett Silvertips) to high school graduations, the characteristic ""Twin Masts"" now add their unique signature to Everett's skyline.[9]Everett's early economy was tied to the lumber trade. The city's 2006 Labor workforce was more than 80,000, predominantly employed in technology, aerospace, and service-based industries.[23]

 

"

 

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

 

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

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

 

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

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

 

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

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

 

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

 

"

Grant Truck and Haul has been in business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the boom times from 2002 to 2007 Grant Truck & Haul was the mastermind of a top-rated accounts receivable in 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.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed down. Worse still, it was noticed by Grant 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, Tom Banks, CEO of Grant felt a chill go down his spine whenever he would look at the weekly A/R reports. The number of clients who were late in their payments was continuing to grow.He had gone to his administrators and asked them what the problem had been. Were they doing things different, or wrong, when it came to collecting overdue accounts? When checking his bookkeeper's records this was definitely not the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Grant money had jumped ship and decided to leave him holding the bag.

 

. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. They had just gone home.The situation looked dire to Tom Banks. 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, Michele, and neither were unable to stop the constant worry over the lack of funds.""Lin, I have a really bad feeling,"" he would say with deep woe.""What could you do differently?"" she would ask.Tom would stare off for a moment and then close 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 then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What on earth was happening to create the death of his business?""I think I know what it could be,"" said Tom. ""For way too long I've been relying solely on profits received from invoices. For too long I've been allowing our clients to let their accounts become overdue."" Linda could only grab her husband's hand and look at him lovingly, ""it is a hard economy. It might be awhile until things get settled up.

 

""Michele was trying so hard to support her husband in these worrying times, while Tom was weighed down with the worry of how he was going to handle this situation he found himself in.The next day Tom strolled into his office and was determined to sit down and make every phone call to every client who had owed Grant money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Tom 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 Tom 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 Feliciaerley knocked at his door.

 

""Tom, can I have a word?"" she asked standing in the doorway.

 

""Of course Felicia, please come in."" Tom relaxed back into his chair and looked up at Feliciaerley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Tom."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard the word factoring?"" she asked.""It does sound vaguely familiar. What is factoring""? he asked.She began, ""Well, it is really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Tom interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""In a nutshell, it is pretty easy. We can have an expert account manager review our numbers and help us complete a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.""Tom replied cautiously ""I see - and what happens then?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

The company will advise us the cost to purchase factoring for our company's accounts receivable. The funding commences once we�ve arrived at an agreement.�Leaning forward, Tom studied the documents very closely.""It sounds too good to be true, Felicia,"" he said.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Tom: 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 Tom,"" she underlined a paragraph on the paper before him.""Just how flexible?"" he asked.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. Apparently they can figure this all out in two to four days.

 

""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" said Tom.Tom took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Precisely�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Tom took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Grant Truck & Haul were professional resources of the company, but they were also long-standing friends. They did not want to throw away these relationships because they were having trouble paying their bills now. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. He did not want to lose business but he also did not want to lose any more money.""Let me go over this tonight Felicia, and thankyou."" Felicia stood up and left Tom's office, with the nice feeling of knowing that she may just have solved a very serious problem.Tom 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 Grant 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, Grant could receive up to fifty-percent cash advances upon load pick-ups. Tom was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""I must tell Jorge the good news,"" Tom muttered to himself.Tom's son-in-law, Jorge, loved the idea behind Grant and highly respected his father-in-law for having such great business sense, that two years ago he got his capital together and started his own transportation company. At that time Tom knew the struggles Jorge would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Grant was struggling then the little guys, like Jorge, were going to be in even more trouble. Perhaps the antidote to these problems was in freight factoring, and they were about to find out.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Tom was beginning to find his way out of the hole his debtors had created for him.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They took that time and refocused effort to offering competitive prices in new territories. Tom 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.

 

"

 

"

Everett is the county seat of and the largest city in Snohomish County, Washington, United States.[6] Named for Everett Colby, son of founder Charles L. Colby,[7] it lies 25 miles (40 km) north of Seattle. The city had a total population of 103,019 at the 2010 census, making it the 7th largest in the state and fifth-largest in the Puget Sound area. It received an All-America City Award in 2002.Everett is home to the largest public marina on the west coast of the United States[8] and is the western terminus of the western segment of U.S. Route 2. It is also home to assembly plant for the 747, 767, 777 and the new 787. Everett facility is known for being the largest building in the world by volume at 116.5 million cubic feet (3,300,000 m3).In 1984, Everett was selected as the site of a U.S. Navy Homeport, Naval Station Everett. The Naval Station formally opened in 1992 and on January 8, 1997 welcomed the aircraft carrier USS Abraham Lincoln. The Lincoln is no longer homeported in Everett as of Winter, 2011. The aircraft carrier, USS Nimitz (CVN-68) has replaced the Lincoln as Everett's homeported ship, as of March 9, 2012. Everett is also home to the Port of Everett, an international shipping port, that brings trade, commerce, jobs and recreational opportunities to the city.In 2003, Xfinity Arena (then known as Everett Events Center), effectively opened Everett to tourism. The $83 million arena continues to host events, once exclusive to Seattle's KeyArena, to present day. From concerts to trade shows, hockey (Everett Silvertips) to high school graduations, the characteristic ""Twin Masts"" now add their unique signature to Everett's skyline.[9]Everett's early economy was tied to the lumber trade. The city's 2006 Labor workforce was more than 80,000, predominantly employed in technology, aerospace, and service-based industries.[23]

 

"

 

More Trucking Factoring Companies Story Articles

"

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

 

Leroy�s father had started as an owner-operator and had grown Shaw 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 Leroy'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 Leroy's hands and he needed to ensure that this business would be left in great shape for his sons.

 

To move Shaw 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 all have families and the usual household bills. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. Every time he had to turn down a request, Shaw Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Leroy 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?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. 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.

 

Leroy knew he was right in his forward thinking. How would he take Shaw 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 this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Leroy had to really consider what his next step was going to be. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

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. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He was quite happy to sign an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. He was more than happy with the figures he was offered in percentage terms on the freight bills. It was good money.

 

It was really refreshing dealing with the factoring people. They were more personable than those loan managers at the bank. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies 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 Leroy 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 Shaw 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, Leroy stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. 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 Shaw Trucking Company and who knows, move into Canada, which had always been his dream. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

"

 

 

 

 

Hamradiocast.Com

 

Commercialinvoice.Net

 

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Trucking Factoring  Articles

"

�So It is not a loan?� Cecil Berry asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Cecil smiled at him, shaking her head.�Not quite,� she stated.Cecil 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 Steven. His company was called Hale Trucking, named after both of his grandfathers, Dwight and Steven. Both of these men had been very hardworking and had set a great example for Steven.Disaster had struck half a year ago, when two trucks in Steven�s fifteen truck fleet went down. One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. Cecil 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.Cecil wasn�t a bad owner, and he hadn�t messed up. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.And that's why he found himself across the desk from this woman. Her name was Lucille 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 is really not a loan at all: we actually buy 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.Cecil agreed. It sounded perfect - perhaps too good?.The woman laughed. �You look like you don�t believe me,� she said.�Oh no, I do: it just sounds too good to be true. I actually thought I might end up losing my business.�Lucille smiled, agreeing. �We get that a lot. Listen, I�d hate to see you lose your company. We know how hard you work, and that you've invested everything in your business. 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.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� Lucille said with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Cecil completed the form, with Lucille offering advice as needed.

 

The profile filled Lucille and her company in on Steven�s company, and would help them determine if he was 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 Cecil filled out his form, Lucille was pretty sure he was a perfect candidate for factoring.Lucille took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Steven's hand. He stood before they shook as well, and then smiled. Cecil walked Lucille to the door where they said 'Goodbye', then he went back into his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He shut his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. Talking to Lucille though, learning about factoring, it felt like a weight had been lifted from his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.The long nights, where he couldn�t sleep. The terrifying panic attacks that occurred regardless of where he was. He could feel it all fading away. He 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 still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.His mind wandered back to the very beginning, when he first started his business. At twenty-two and straight out of school he had opened a restaurant. It had been 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 half a year off, and in that time he thought to start Hale Trucking. And that's exactly what he did. For the second time in his short life he created a company from the ground up. He had been successful.And then the trucks went down, and his success looked to be in flux. He was about to turn fifty. He was concerned that he just did not have the energy left to try and save the business. 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, because of factoring, he was sure he wouldn�t have to. Steven's eyes opened, he sat forward in his chair and turned on his computer. He had lots 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 Truck Establishments Employ Factoring Companies.

 

As the manager of your own firm, you may likely be more than wary already of the difficulty in making certain that cash flow issues do not become a difficulty down the line. Anyway, the toughest thing that can quite possibly happen for your business is to find yourself involved in a long and problematic predicament that leaves you forever trying to find the funds you really need on an recurring manner.

 

For any enterprise in this circumstance, the trouble can come for waiting for work to clear up and actually be repaid into your balance. Invoices, checks, and the like could take some time to actually to be taken care of which can easily leave you with temporary cash flow issues. Fortunately, there are solutions out there for industries to investigate-- and among these is factoring firms.

 

Factoring providers will, in trade for your invoices, give you with the funds today so that you do not need to stress over the waiting time span which could make paying the bills and acquiring toolsmore troublesome. With this form of system, invoice factoring can become remarkably useful for many businesses who ought to get out of a cash pitfall which they have discovered themselves in.

 

For the reason that, relying on the scale of the work, it can take up to 60 days for a number of companies to get paid out then it is very important to blanket your own back and certainly not leave yourself cash short to settle the costs. After all, how many business enterprises possess two months earnings just lying there to pay for all their expenditures until they earn?

 

This is primarily correct of truck agencies. They tend to manage tons of accounts which means a significant volume of collection time involves business owner themselves. Trying to get paid promptly can become an extraordinary difficulty and this is why you make use of truck factoring companies who are pleased to help out truckers exclusively.

 

As most of us determine, trucking is an exceptionally massive field with lots of agencies out there utilizing hundreds of operators. However, several of these drivers wind up in cash dilemmas because they are still expecting work from six weeks earlier to actually pay them. When this is the condition for a truck company, choosing factoring companies for reinforcement may be the most suitable alternative left.

 

This implies that a truck organization can pay the salaries of the people, keep all the vehicles filled with fuel and continue to go up, flourish and expand without always waiting for the cash which is taking too prolonged to come in. Trucking Firms functioning without a factoring system put in place are leaving themselves at critical hazard, as competitors cash out rapidly and proceed to broaden.

 

There's absolutely not much to be stressed about when it comes to utilizing a Factoring firm-- they are not like a banking company or someone who is going to leave you with a huge mass of liability to repay. You give them authentic invoices from work you have already finalized , you are simply facilitating the payment process.

 

In the United States, where truck enterprises succeed, factoring agencies are not considered borrowing in any capacity. This private deal then permits both parties to profit and take pleasure in a convenient future-- it provides the factoring provider a secured resource of earnings to put into the list and it furnishes the trucking firm the required finances that they worked hard to generate.

 

The trucking firm presents their accounts to the factoring agency. The trucking factoring company then take the installment payments from the trucking company's clients. Factoring has been in existence for hundreds of years and has been utilized for many years by a lot of different fields-- but none exceeding so than truckers. While you may well lose out on a small part of the money, something like 1-3 % depending upon who you deal with, it indicates that you are getting the funds today and can actually start putting the resources to work.

 

Anyway, an IOU or an invoice is certainly not going to cover expenditures, is it? For trucking agencies when the finances can be great one day and gone the next, it is up to the vehicle drivers to work prudently and to make sure they are leaving themselves with a notable volume of time and money to get through the week until they are paid for again.

 

So the next period your trucking establishment is bearing some temporary cash flow concerns and you are devoting a bit too much time chasing slowly paying customers, why not start looking at employing a factoring companies as a means to get your money and give yourself a more at ease future in the eyes of your trucking staff and your bank difference?

 

 

 

 

 

 

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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. Once the loan is paid off, you can then apply for another loan if the need arises.

 

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. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to sell. Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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

 

1. There is no debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. There's no collateral required. Another great benefit of using the services of a Trucking Factoring company instead of a bank loan is that there is no collateral required for the Trucking Factoring company, because the Trucking Factoring company is buying your accounts receivables. 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. Using a Trucking Factoring company means that you'll get the finance quicker. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been 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 from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a bank. The most important benefits is that once you sell your accounts receivable to the factory company, you do not have to take time away from running your business to collect the money owed from reluctant to pay customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

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

 

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