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Business Owners! Want Quick Curls? - Our Accounts Receivable Factoring Company Can Give
Your Freight Company The Cash You Want

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Medium-Size trucking businesses, particularly those who have not been in existence for very long, will commonly discover it tough to protect a loan. Banks are frequently reluctant to provide money to companies that do not have a lot of earnings and possessions. They likewise want proof of the practicality of a business and thus need that many operations, especially small ones, been around for a specific quantity of time prior to they are ready to turn over any cash. Because of this, a medium-size business frequently has a couple of cash producing choices when requires occur. One alternative offered, however typically overlooked, is invoice factoring. This is an outstanding way for a medium-size business to obtain cash.

 

 

 

 

 

 

 

Imagine Holding Your banker Spellbound for 30 Minutes - Pick An Accounts Receivable Factoring Company Instead Of A Regular Bank Financing

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

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

Money flow does not have to be an issue any more. Do not be fooled -- banks are not the only places you can get funding. Other options are offered and you do not have to borrow money. What is trucking factoring ? One option is called truck factoring. Truck Factoring is the procedure of selling invoices to a financier instead of waiting to collect the cash from the client. Oh, the Irony- Truck factoring has an ironic difference: It is the financial backbone of many of America's most effective businesses. Why is this ironic ? Because truck factoring is not taught in business colleges, is rarely discussed in company plans and is fairly unidentified to bulk of most of American company people.

Yet it is a monetary process that frees billions of dollars every year, allowing countless businesses to grow and prosper. Receivable Financing has actually been around for countless years. Truck Factoring Companies are financiers who pay money for the right to get the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your customer has actually to pay in the near future. Factoring Principals--Although factoring offers solely with business-to-business transactions, a big percentage of the retail business uses a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail transactions. Utilizing the purest meaning of the word, these large customer finance companies are really simply large Factoring Businesses of customer paper. Consider it: You make a purchase at Sears and charge it to your MasterCard. The shop makes money almost immediately, even though you do not make payment up until you are prepared.

For this service, the charge card business charges Sears a charge (typical common normal charges vary from 2 to four percent of the sale). The Advantages Commercial Factoring can offer numerous advantages to cash-hungry companies. Instead of waiting 30, 60, 90 days or longer for payment on an item that has actually already been delivered, a company can factor (sell) its receivables for money at a small 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.

Receivable Loan Funding offers the means for a producer to renew inventory and make even more products to sell: There is no longer a requirement to wait for earlier sales to be paid. FACTORING is not simply a cash management device for manufacturers: Practically any kind company can benefit from Receivable Financing. Generally, a company that extends credit will have 10 to 20 percent of its yearly sales tied up in accounts receivable at any given time. Think for a moment about how much is bound in 60 days' worth of invoices: You can not pay the power expense or this week s payroll with a customer s invoice, however you can sell that invoice for the money to meet those obligations. Using truck factoring companies is a quick and simple procedure. The factoring company purchases the invoice at a price cut, usually a few portion points less than the face value of the invoice.

 

 

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The American Trucking Organization
specifies that there around
205,000 truck drivers with truck
firms and
250,000 private companies trucking
companies certified to
run in the United States that transferred,
according to their most current searchings for billions of
products, materials and
fundamental products .
There are a number of common
providers either going solo or in
groups on our country
roadways transferring these
important products to our
stores, manufacturingplants and harbors.

Plus freight factoring
firms aid
several of them and offer their
receivables financing facilities
countrywideincluding
including the following states.

: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho State, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming

 

Long Beach is the seventh-largest city in California and is situated on San Pedro Bay, south of Los Angeles, in Los Angeles County.The town was laid out and settled in 1881 by developer W. E. Willmore, who sold lots on the site as a seaside resort community called Willmore City. It was renamed Long Beach for its 81/2-mile beach in 1884. The city was incorporated in 1888 and reincorporated in 1897.Long Beach is a major industrial port, ranked second-busiest in the U.S. and tenth-busiest in the world. In addition to international trade through the port, high technology has also been an important economic engine for the Long Beach area. Major technology and aerospace corporations such as Gulfstream, Boeing, and Laserfiche have large facilities in Long Beach. Boeing continues to be a top employer, with over 7,100 employees.Tourism is also important to the economy. Major attractions are the RMS Queen Mary, the Aquarium of the Pacific, whale watching tours, and water sports.Long Beach is a city in Los Angeles County in Southern California, on the Pacific coast of the United States. The city is the 36th-largest city in the United States and the seventh-largest in California. As of 2010, its population was 462,257. In addition, Long Beach is the second largest city within Greater Los Angeles Area, after Los Angeles, and a principal city of the Los Angeles-Long Beach-Santa Ana metropolitan area.The city is a dominant maritime center of the United States. The Port of Long Beach is the United States' second busiest container port and one of the world's largest shipping ports. The city also maintains a large oil industry with wells located both underground and offshore. Manufacturing sectors include those in aircraft, car parts, electronic and audiovisual equipment, and home furnishings.though the two cities border each other for several miles on Long Beach's southwestern portion. Long Beach borders Orange County on its southeast edge

 

 

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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:

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

 

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

 

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.

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.

 

 

"

Dunn Truck & Haul have been operating their business since the mid 1980s. 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, Dunn 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.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed to a crawl

 

. Worse still, it was noticed by Dunn 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, Lloyd Cole, CEO of Dunn 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. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. They could not afford to pay him their debt, but they could afford a lesser service, maybe. 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.This current state-of-affairs was causing Lloyd Cole to have some very restless nights. There were goods to ship, employees to pay, trucks to repair and maintain, and continuous overheads that were very extensive when compared to the funds (or lack of) that were incoming. At night he would speak to his wife Erin and shake his head in frustration.

 

""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""What could you do differently?"" she would say.Lloyd would stare off into the distance, and then slowly close his eyes. He could see the fleet of trucks he had purchased over the years. He could see them traveling, bringing goods to all of his clients. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What could cause this ultimate death spiral of business?""I think I know what it could be,"" said Lloyd. ""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."" Erin would look at her husband lovingly, and holding his hand would say 'it is such a harsh economy these days and our clients must be having difficulty meeting their responsibilities'.""Lloyd knew his wife meant well, but he knew that he was responsible for too many people to sit idly by, waiting for the sun to peak over the clouds.The following day Lloyd walked into his office with a spring in his step, determined to call each and every client who owed money to Dunn Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Lloyd 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. Wasting money, wasting time - even with the best of intentions, Lloyd knew that he was in trouble.

 

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

 

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

 

""Of course Theresa, please come in."" Lloyd leaned back in his chair and looked expectantly at Theresaerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Lloyd."" 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. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Lloyd interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""it is actually very simple. We can have an expert account manager review our numbers and help us complete 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�s a broad view.""Lloyd replied cautiously ""I see - and what happens then?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

This company tells us what the cost will be to purchase factoring for our accounts receivable. Once we arrive at a mutual agreement, the funding begins.�Lloyd leaned forward and reviewed the paperwork closely.""It sounds too good to be true, Theresa,"" 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. They appear to be very flexible, Lloyd,"" she drew a circle around a paragraph on the document before him.""How flexible?"" asked Lloyd.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. It only takes 2 to 4 days for this to be figured out. ""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. 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,"" Lloyd said.He took a deep breath and looked at his secretary with something she recognized as hope.""Precisely�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Lloyd took a moment to think about this solution, and agreed with his secretary. The clients who owed them money were long standing friends and professional resources of Dunn. They did not want to throw away these relationships because they were having trouble paying their bills now. Lloyd knew only too well that the whole economy was floundering, and that it was not going to change overnight. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. He did not want to lose business but he also did not want to lose any more money.""Well, let me think about this tonight Theresa, thank you."" Theresa nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Lloyd keep the shirt on his back, and possibly hers too.Lloyd 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 Dunn Truck & Haul with? Running his pencil down the sheet, he noted that the freight factoring company could assist with fuel costs, fuel advances, and fuel discount cards. Lloyd was surprised: it said that his company could get up to fifty percent cash advances on load pickups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""Well, I'll have to tell Charlie about this,"" muttered Lloyd to himself.Charlie is Lloyd's son-in-law, and he really admired the ideas behind Dunn, so much so that only two years before he had started his own transportation service business. At that time Lloyd knew the struggles Charlie would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Dunn was struggling then the little guys, like Charlie, were going to be in even more trouble.

 

But, an antidote may have been found in freight factoring and Lloyd was soon to find out.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Lloyd found himself beginning to dig his way out of the hole his delinquent account holders had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They used that time to refocus their efforts in being competitive in new territories. Lloyd recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. If Lloyd hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

Long Beach is the seventh-largest city in California and is situated on San Pedro Bay, south of Los Angeles, in Los Angeles County.The town was laid out and settled in 1881 by developer W. E. Willmore, who sold lots on the site as a seaside resort community called Willmore City. It was renamed Long Beach for its 81/2-mile beach in 1884. The city was incorporated in 1888 and reincorporated in 1897.Long Beach is a major industrial port, ranked second-busiest in the U.S. and tenth-busiest in the world. In addition to international trade through the port, high technology has also been an important economic engine for the Long Beach area. Major technology and aerospace corporations such as Gulfstream, Boeing, and Laserfiche have large facilities in Long Beach. Boeing continues to be a top employer, with over 7,100 employees.Tourism is also important to the economy. Major attractions are the RMS Queen Mary, the Aquarium of the Pacific, whale watching tours, and water sports.Long Beach is a city in Los Angeles County in Southern California, on the Pacific coast of the United States. The city is the 36th-largest city in the United States and the seventh-largest in California. As of 2010, its population was 462,257. In addition, Long Beach is the second largest city within Greater Los Angeles Area, after Los Angeles, and a principal city of the Los Angeles-Long Beach-Santa Ana metropolitan area.The city is a dominant maritime center of the United States. The Port of Long Beach is the United States' second busiest container port and one of the world's largest shipping ports. The city also maintains a large oil industry with wells located both underground and offshore. Manufacturing sectors include those in aircraft, car parts, electronic and audiovisual equipment, and home furnishings.though the two cities border each other for several miles on Long Beach's southwestern portion. Long Beach borders Orange County on its southeast edge

 

 

More Trucking Factoring Companies Story Articles

Factoring in the Future of a Trucking Business: A Story Ron Morrison 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. Morrison Trucking Company had reached a turning point and he now had to make a decision as to whether he should sign up with a factoring company, and indeed if this would be a good or regrettable decision for his business.

 

More than forty years ago Ron's father had started this business working as an owner-operator and eventually growing Morrison 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 Ron's mother had jumped into the cab at times to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. Now the company was solely in Ron�s hands and he wanted to live to see it in better shape for his sons.

 

To move Morrison 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. He knew that turning down these requests made Morrison Trucking look inefficient and weak in what was currently a strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Ron allowed himself a good hard chuckle. His father had been against placing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). His father days were long gone and technology was actually an important improvement for the business such as having Qualcomm to cut down on fruitless time communicating on the phone for bills of lading.

 

Ron knew he was right in his forward thinking. How would he take Morrison 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. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

He wondered about factoring - was this the answer for him? If he was being honest, he did not really understand how it all worked. 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.

 

Ron 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. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He didn�t mind signing an exclusive contract. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. 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. 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. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies didn�t worry over his credit and the debt troubles his father had had in the past of the company. Factoring was based on the credit of his customers and on their reliability which worked well for Ron because he and his father had built up good strong relationships over decades with their list of clients. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients wouldn�t think poorly of Morrison Trucking and the factoring companies appeared capable of handling the accounts receivable in the same polite manner that his father had used over the years.

 

Feeling happier now, Ron 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 Morrison Trucking Company and who knows, move into Canada, which had always been his dream. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

 

 

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Trucking Factoring  Articles

"

�So It is not a loan?� asked Steve Allen, reclining back into his chair and crossing his legs. The woman sitting across the desk from Steve smiled at him, shaking her head.�No, not exactly,� she stated.Steve Allen owned a small trucking company, and his business had recently fallen on difficult times. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Terrance. His company was called Stanley Trucking, named after both of his grandfathers, Stephen and Roberto. Both of these men had been very hardworking and had set a great example for Terrance.Disaster had struck half a year ago, when two trucks in Terrance�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. Steve 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.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

Waiting a month or longer for bills to be paid was quite normal. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Steve was an excellent business man, and he certainly hadn't done anything wrong. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.That�s where the woman across the desk came in. Her name was Miriam and she worked for a factoring company. He had accidentally come across her company one night when he was working late, searching the internet to see if there was some solution to his financial dilemma.She sat there now, and explained. �It�s not a loan, we purchase your accounts receivable. we are not giving you finance to be repaid later: we are purchasing something from you, and when you can you can buy it back. 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.Steve agreed. It sounded perfect - perhaps too good?.Miriam laughed. �I'm not sure that you 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.�Miriam smiled, agreeing. �We get that a lot. There's no way we want to see you lose your business. We know how hard you work, and that you've invested everything in your business. Sometimes you need help. That�s what we�re here for.""In any case, thank you for coming to see me.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� Miriam said with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Steve completed the form, with Miriam offering advice as needed.

 

The completed profile gave Miriam and her company all the information they needed on Terrance's business, and with this information they would determine if this business would in fact be suitable for Factoring. In truth, not all companies were. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. As Steve completed his form, Miriam listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Miriam took it and slid it into her briefcase. Standing up, she reached over the desk and shook Terrance's hand. He also stood up, and they smiled at each other. They said their goodbyes and Steve walked her to the door, and then returned to his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He shut his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. Talking to Miriam 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. 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 there, he was on the right path, and he was working to make things right.His mind wandered back to the very beginning, when he first started his business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been really successful. Offering home cooking in his own hometown, his business had really prospered.But it wasn't what he really wanted to do. His passion didn�t lie with the food industry. He thought long and hard, and then he decided to sell the restaurant. He took six months off, and during that time he decided to create Stanley Trucking. And that's exactly what he did. Once again he built a company from the ground up. The business had been an instant success.And then the trucks went down, and his success looked to be in flux. He was about to turn fifty. He didn�t think he had it in him, to save this company. But he couldn�t give up. The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He did not want to quit - both for himself and for his staff members.And now it seemed as though he would not have to - all because of Factoring. Terrance's eyes opened, he sat forward in his chair and turned on his computer. He had lots to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

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More Trucking Factoring Company Story Articles

Why Truck Establishments Use Factoring Companies.

 

As the operator of your own firm, you may likely be much more than perceptive already of the challenge in making sure that cash flow matters do not become a dilemma down the line. Anyway, the most unfortunate thing that can in all probability take place for your firm is to find yourself involved in a long and challenging condition that leaves you forever looking for the resources you need on an on-going basis.

 

For any type of business enterprise in this case, the problem can come for waiting for work to clear up and actually be compensated into your balance. Bill of sales, checks, and the like can take a while to actually to beprocessed which can leave you with temporary capital dilemmas. Luckily, there are alternatives out there for businesses to examine-- and one of these is factoring firms.

 

Factoring providers will, in trade for your invoices, give you with the cash now to make sure that you do not need to fret about the delaying time frame that could make paying off the expenses and acquiring materialsmore difficult. With this type of system, invoice factoring can come to be extraordinarily practical for several firms who ought to get out of a cash pitfall which they have gotten themselves in.

 

Given that, relying on the volume of the project, it can take up to 60 days for some establishments to get paid then it is necessary to cover up your own back and not leave yourself cash short to pay the monthly bills. After all, how many firms have two months income just occupying there to handle all their expenditures until they get paid?

 

This is most especially correct of trucking agencies. They tend to handle tons of accounts which means a serious quantity of collection period entails company owner themselves. Attempting to get paid out promptly can come to be an amazing headache and this is precisely why you work with trucking factoring companies who are glad to help out truckers primarily.

 

As all of us recognize, trucking is an remarkably large industry with plenty of organizations out there utilizing hundreds of operators. Regretfully, many of these drivers end up in finances predicaments for the reason that they are still expecting work from six weeks earlier to actually pay them. When this is the circumstance for a truck business, resorting to factoring companies for solutions might be the very best choice left.

 

This means that a truck corporation can pay out the salaries of the personnel, keep all the trucks loaded with gas and continue to scale, thrive and expand without always waiting for the money which is taking too long to come in. Trucking Companies operating without a factoring system used are leaving themselves at considerable hazard, as rivals cash out fast and proceed to broaden.

 

There's absolutely almost nothing to be worried about when it comes to utilizing a Factoring contractor-- they commonly are not like a financial institution or an individual who is going to leave you with a big stockpile of financial obligation to repay. You give them legitimate invoices from work you have already wrapped up , you are only facilitating the repayment system.

 

In the United States, where trucking agencies do well, factoring companies are not considered taking on loan in any capacity. This private agreement then enables both parties to make money and experience a good future-- it gives the factoring agency a warranted asset of revenue to include in the list and it gives the trucking firm the required money that they worked hard to get.

 

The trucking enterprise provides their accounts to the factoring enterprise. The trucking factoring business then collect the payment amounts from the trucking company's clients. Factoring has been in existence for centuries and has been adopted for decades by plenty of various business-- but none more so than truckers. While you could lose out on a small part of the money, something like 1-3 % depending on who you work with, it indicates that you are acquiring the finances today and can actually start off setting the funds to function.

 

Once and for all, an IOU or an invoice is absolutely not going to pay for expenditures, is it? For trucking establishments when the hard earned cash can be good one day and gone the next, it is up to the vehicle drivers to work smartly and to guarantee they are leaving themselves with a substantial quantity of time and money to get through the week up until they are compensated once more.

 

So the next time your trucking company is having some momentary capital issues and you are devoting way too much time chasing sluggish paying clienteles, why not begin taking into consideration employing a factoring companies as a method to get your money and give yourself a more at ease future in the eyes of your trucking workers 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. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

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. 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 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

 

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 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. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

3. You'll receive the money faster. 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. With a bank loan interest continues to build, and this has to be paid the whole time you have a business loan; however with a Trucking Factoring company there is no interest - they take it right off the top by deducting it from the total amount of receivable accounts. So not only are you relieved of those monthly loan payments, but you also do not have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

As you can see, 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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Factoring Companies by City

New York City

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Dallas


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Jacksonville


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Columbus


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Charlotte


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Boston


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Portland


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Virginia Beach


Atlanta

 

Colorado Springs


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New Orleans

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Newark

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Jersey

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North Las Vegas

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Gilbert town

San Bernardino

Boise

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Rochester

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