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161 New Ways to Finance Your Company - in This fascinating - Our Freight Invoice Factoring Company Can Provide
Your Truck Company The Cash You Want

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Medium-Size freight businesses, specifically those who have not been around for extremely long, will frequently find it challenging to secure a loan. Banks are often reluctant to provide money to companies that do not have a lot of income and assets. They likewise want evidence of the viability of a business and hence need that the majority of operations, especially little ones, been around for a certain amount of time before they are eager to hand over any cash. Because of this, a medium-size business typically has few money producing options when needs occur. One alternative available, however frequently overlooked, is factoring. This is an outstanding method for a small business to acquire cash.

 

 

 

 

 

 

 

Receivables Mysteriously Disappear from the Books - Select An Invoice Factoring Company Instead Of A Traditional Bank Financing

Exactly how to Enhance 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 actually experienced poor money flow.

Cash 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 offered and you do not have to borrow money. What is trucking factoring ? One option is called trucking factoring. Truck Factoring is the process of offering invoices to a financier instead of waiting to collect the cash from the customer. Oh, the Irony- Trucking factoring has an ironic difference: It is the monetary backbone of many of America's most successful companies. Why is this ironic ? Because trucking factoring is not instructed in business colleges, is seldom discussed in business strategies and is fairly unknown to the majority of most of American company individuals.

Yet it is a monetary process that releases up billions of dollars every year, allowing thousands of businesses to grow and succeed. Receivable Funding has been around for countless years. FACTORING Businesses are investors who pay money for the right to receive the future payments on your invoices. An overdue receivable or invoice has value. It is a debt your customer has to pay in the near future. Factoring Principals--Although factoring offers solely with business-to-business transactions, a large portion of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail transactions. Utilizing the purest definition of the word, these large customer finance business are really just large FACTORING Companies of customer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The store gets paid practically immediately, although you do not make payment up until you are ready.

For this service, the charge card business charges Sears a fee (typical common normal charges range from 2 to four percent of the sale). The Advantages Receivable Loan Funding can provide many advantages to cash-hungry business. Instead of waiting 30, 60, 90 days or longer for payment on an item that has actually currently been delivered, a business can factor (sell) its receivables for money at a small discount off the amount of the invoice. Payroll, advertising efforts, and working capital are simply a few of the business requirements that can be met with instant  cash.

Factoring offers the means for a manufacturer to renew stock and make even more items to offer: There is no longer a need to wait for earlier sales to be paid. FACTORING is not just a cash management tool for manufacturers: Practically any type company can benefit from Truck Factoring. Typically, a business that extends credit will have 10 to 20 percent of its annual sales tied up in accounts receivable at any given time. Think for a minute about how much is tied up in 60 days' worth of invoices: You can not pay the power bill or today s payroll with a client s invoice, however you can offer that invoice for the money to satisfy those responsibilities. Using trucking factoring companies is a fast and easy process. The factoring company purchases the invoice at a discount, typically a couple of portion points less than the stated value of the invoice.

 

 

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The American Transportation Association
specifies that there are about
195,000 truck drivers with truck
firms and
300,000 personal companies trucking
firms licensed to
run in America that transferred,
according to their latest searchings for billions of
products, supplies and
fundamental materials .
There are a number of common
providers either going solo or in
teams on our nation
roadways transporting these
crucial products to our
shops, manufacturingplants and shipping ports.

Furthermore freight factoring
firms service
several of them and offer their
receivables financing facilities
countrywidecomprising
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

 

 

The Denver MSA has a gross metropolitan product of $157.6 billion in 2010, making it the 18th largest metro economy in the United States. Denver's economy is based partially on its geographic position and its connection to some of the major transportation systems of the country. Because Denver is the largest city within 500 miles (800 km), it has become a natural location for storage and distribution of goods and services to the Mountain States, Southwest states, as well as all western states. Another benefit for distribution is that Denver is nearly equidistant from large cities of the Midwest, such as Chicago and St. Louis and some large cities of the West Coast, such as Los Angeles and San Diego.Over the years, the city has been home to other large corporations in the central United States, making Denver a key trade point for the country. Several well-known companies originated in or have relocated to Denver. Instrument Company in 1895 to make analytical balances for gold assayers. Its factory is now in Arvada. �the largest owner and operator of apartment communities in the United States, with approximately 870 communities comprising nearly 136,000 units in 44 states�is headquartered in Denver, employing approximately 3,500 people. Also producer of automotive belts and hoses, was established in S. Denver in 1919. Denver. . Along with federal agencies come many companies based on US defense and space projects, and more jobs are brought to the city by virtue of its being the capital of the state of Colorado. The Denver area is home to the former nuclear weapons plant Rocky Flats, the Denver Federal Center, the Denver Mint and the National Renewable Energy Laboratory.In 2005, a $310.7 million expansion for the Colorado Convention Center was completed, doubling its size. The hope was that the center's expansion would elevate the city to one of the top 10 cities in the nation for holding a convention.Denver's position near the mineral-rich Rocky Mountains encouraged mining and energy companies to spring up in the area. In the early days of the city, gold and silver booms and busts played a large role in the economic success of the city. In the 1970s and early 1980s, the energy crisis in America and resulting high oil prices created an energy boom in Denver captured in the soap opera Dynasty. Denver was built up considerably during this time with the construction of many new downtown skyscrapers. When the price of oil dropped from $34 a barrel in 1981 to $9 a barrel in 1986, the Denver economy dropped with it, leaving almost 15,000 oil industry workers in the area unemployed (including former mayor and current governor r, a former geologist), and the highest office vacancy rate in the nation (30%). Since then, the industry has recovered and there remain 700 employed petroleum engineers in the region. Advances is hydraulic fracturing has made the DJ Basin of Colorado into an accessible and lucrative oil play. Energy and mining are still important in Denver's economy today, with companies such The Downtown region has seen increased real estate investment with the construction of several new skyscrapers set to be completed in 2010�2013.Denver has also enjoyed success as a pioneer in the fast casual restaurant industry, with many popular national chain restaurants founded and based in Denver. In 2013, Denver ranked No. 6 on list of the Best Places for Business and Careers

 

 

 

 

View Our Freight Factoring Companies YouTube Videos For More Information

 

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

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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

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

 

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

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

 

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

 

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

 

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

 

 

"

Clark 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 heady times from 2002 to 2007, Clark was a top rated accounts receivable mastermind of the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. Cash was flowing and times were good for all.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 Clark 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, Ronald Welch, CEO of Clark 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 already been to the administrators to ask what the actual problem was. Were they doing something wrong or different when it came to reaching out to delinquent accounts? When checking his bookkeeper's records this was definitely not the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. They could not afford to pay him their debt, but they could afford a lesser service, maybe. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Clark hadn't gone elsewhere. They had just gone home.The situation looked dire to Ronald Welch. 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 Michelle and shake his head in frustration.

 

""Lin, I have a really bad feeling,"" he would say with deep woe.""Well, what do you think it is?"" she would ask.Ronald 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 on the road, delivering good to all his loyal customers. 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 know what it is,"" said Ronald. ""For way too long I've been relying solely on profits received from invoices. I've let too many of our customers go too long without paying on their bills."" Linda could only grab her husband's hand and look at him lovingly, ""it is a hard economy. It might be awhile until things get settled up.

 

""Michelle was trying so hard to support her husband in these worrying times, while Ronald was weighed down with the worry of how he was going to handle this situation he found himself in.The next day Ronald strolled into his office and was determined to sit down and make every phone call to every client who had owed Clark money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Ronald 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. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. Wasting money, wasting time - even with the best of intentions, Ronald knew that he was in trouble.

 

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

 

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

 

""Of course Cassandra, please come in."" Ronald leaned back in his chair and looked expectantly at Cassandraerely.""Well Ronald, this afternoon I did some research, trying to work out how we are going to get out of this mess."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard the word factoring?"" Cassandraerley asked.""It does sound vaguely familiar. What is factoring""? he asked.""Well,"" she began, ""It�s actually quite simple really.

 

Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Ronald interrupted ""Immediately?"".""Immediately, yes"" she added, ""In a nutshell, it is pretty easy. We start by having a professional account manager review our figures and help us set up a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.""Ronald 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.

 

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.�Ronald leaned forward and reviewed the paperwork closely.""I do not know, Cassandra - it just sounds too good to be true"", Ronald said quietly.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Ronald: 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 Ronald,"" she underlined a paragraph on the paper before him.""How flexible?"" asked Ronald.""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. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" said Ronald.Ronald took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Precisely�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Ronald took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Clark Truck & Haul were professional resources of the company, but they were also long-standing friends. Ronald wasn't prepared to lose these relationships just because they were having financial issues at the moment. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. Of course he did not want to lose any more money, but he did not want to lose business either.""Let me go over this tonight Cassandra, and thankyou."" Cassandra stood up and left Ronald's office, with the nice feeling of knowing that she may just have solved a very serious problem.Ronald sat behind his desk and looked over the details Cassandra had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Clark 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. Ronald was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Ronald was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""Well, I'll have to tell Marshall about this,"" Ronald muttered to himself.Marshall is Ronald's son-in-law, and he really admired the ideas behind Clark, so much so that only two years before he had started his own transportation service business. Ronald knew then what struggles Marshall would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Clark was struggling then the little guys, like Marshall, were going to be in even more trouble.

 

But, maybe the answer for both of them was in freight factoring, and Ronald was going to find out very soon.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Ronald 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 used that time to refocus their efforts in being competitive in new territories. Ronald recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. If Ronald hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

 

More Trucking Factoring Companies Story Articles

Factoring in the Future of a Trucking Business: A Story Lance Day let the phone ring on his desk. His morning coffee cooled and his cigarette smoked away in the tray: Lance is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Day 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 Lance's father had started this business working as an owner-operator and eventually growing Day 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 Lance'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 Lance's hands and he needed to ensure that this business would be left in great shape for his sons.

 

To move Day Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. His employees needed to be paid. 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 Day Trucking look inefficient and weak in what was currently a strong market.

 

His father would have told him to wait and to take his time adding on new technology. Lance chuckled, thinking about his father. 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?� 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.

 

Lance knew he was right in his forward thinking. What would be the next step for Day Trucking? 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.

 

But was factoring the answer? If he was being honest, he did not really understand how it all worked. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. 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.

 

Lance 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! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

However, it all turned out to be very simple. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. 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. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. 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 more personable than those loan managers at the bank. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar for a handout. The factoring companies didn�t worry over his credit and the debt troubles his father had had in the past of the company. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Lance 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 Day 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, Lance stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. With the capabilities of this new cash flow, Lance could actually expand Day Trucking Company further across the country and perhaps even go international into Canada. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

 

 

 

 

 

 

 

Factoring With Recourse

 

Cash For Invoices

 

 

 

Watch Our Truck Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So, this is not a loan?� asked Julio Rose, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she said.Julio Rose 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 Claude. He named his business Caldwell Trucking, named after Isaac and Nathaniel, his two grandfathers. They had both been hardworking men, and had done a lot to make Julio the same.Disaster had struck half a year ago, when two trucks in Claude�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. The financial security of Claude's company relied on his full fleet on fifteen being on the road, and missing two trucks was just 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.Julio 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.And that's why he found himself across the desk from this woman. Julio knew she was employed by a Factoring company and that her name was Emma. Julio had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.She sat there now, and explained. �it is really not a loan at all: we actually buy your accounts receivable. we 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.Julio agreed. It sounded perfect - perhaps too good?.Emma laughed. �You look like you don�t believe me,� she said.�No, I do, I just think it sounds a bit too good to be true. I thought I was going to lose my company.�Emma smiled, agreeing. �Yes, we get a lot of that. There's no way we want to see you lose your business. You work hard, you�ve put everything you can into it. We all need help sometimes. That's why we do what we do.""Well, I'm very grateful that you came to see me today.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� Emma said with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Julio filled the form out, with Emma available to help him if he needed it. The profile filled Emma and her company in on Claude�s company, and would help them determine if he was suitable for factoring. In truth, not all companies were. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. As Julio completed his form, Emma listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Emma took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Claude's hand. He also stood up, and they smiled at each other. Julio walked Emma 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 leaned back and closed his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. Talking to Emma though, learning about factoring, it felt like a weight had been lifted from his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.All those long, sleepless nights. The sudden panic attacks, not matter where he was. Already he could feel all the stress start to drain away. He 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.Julio couldn�t help but think back to when he had first started the business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been successful. Home cooking in his hometown, and he had done very well.But he had gotten bored. He wasn't passionate about the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took half a year off, and in that time he thought to start Caldwell 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.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was nearing fifty. He was concerned that he just did not have the energy left to try and save the business. But he couldn�t give up. Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He didn�t know how to say quit.And now, because of factoring, he was sure he wouldn�t have to. Claude's eyes opened, he sat forward in his chair and turned on his computer. He had things 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

The key reasons why Trucking Agencies Employ Factoring Companies.

 

As the owner of your own establishment, you may likely be more than conscious already of the hardship in making certain that cash flow matters do not become a predicament down the line. After all, the most disappointing thing that can quite possibly develop for your enterprise is to find yourself dragged in a long and tough situation that leaves you forever trying to find the finances you require on an continuing manner.

 

For virtually any firm in this situation, the issue can come for waiting for work to clear up and actually be brought in into your statement. Statements, checks, and the like can take a long time to actually to be taken care of which can easily leave you with temporary capital issues. Thank goodness, there are opportunities out there for industries to examine-- and just one of these is factoring companies.

 

Factoring firms will, in trade for your statements, provide you with the finances immediately so that you do not have to fret about the waiting period which could make paying out the expenses and acquiring toolsmore challenging. With this form of arrangement, invoice factoring can end up being incredibly beneficial for many establishments who have to get out of a money pitfall which they have gotten themselves in.

 

Since, basing on the volume of the project, it can take up to 60 days for several businesses to get paid out then it is vital to take care of your own back and definitely not leave yourself funds short to pay the costs. After all, how many business enterprises have two months earnings just lying there to address all their bills until they earn?

 

This is primarily true of trucking enterprises. They tend to take care of good deals of statements which means a significant amount of collection period demands company owner themselves. Striving to get paid out in time can become an amazing trouble and this is why you work with trucking factoring firms who are happy to help out truckers specifically.

 

As most of us realize, trucking is an astonishingly enormous industry with many agencies out there working with hundreds of drivers. Unfortunately, plenty of these drivers end up in finances predicaments considering that they are still waiting for work from six weeks back to actually compensate them. When this is the situation for a truck agency, turning to factoring firms for solutions maybe the finest choice left.

 

This implies that a truck company can pay out the paychecks of the workers, keep all the vehicles loaded with fuel and continue to scale, evolve and expand without always waiting for the funds which is taking too lengthy to come in. Trucking Establishments functioning without a factoring program applied are leaving themselves at critical risk, as rivals cash out rapidly and proceed to expand.

 

There's genuinely nothing at all to be troubled about when it comes to employing a Factoring company-- they commonly are not like a bank or someone who is going to leave you with a massive pile of debt to repay. You give them authentic invoices from job you have already finalized , you are only just expediting the repayment system.

 

In the United States, where trucking firms grow, factoring providers are not considered borrowing in any capacity. This confidential arrangement then enables both groups to profit and indulge in a comfortable future-- it provides the factoring company a warranted resource of earnings to put into the list and it gives the trucking business the required funds that they worked hard to get.

 

The trucking enterprise gives their statements to the factoring enterprise. The trucking factoring business then acquire the payments from the trucking company's clients. Factoring has been all around for centuries and has been adopted for long times by lots of different business sectors-- but none exceeding so than truckers. While you could lose out on a small part of the money, something like 1-3 % depending on who you collaborate with, it implies that you are acquiring the finances today and can actually start off putting the cash to operate.

 

After all, an IOU or an invoice is not going to fund overheads, is it? For trucking establishments when the income can be very good one day and gone the next, it is up to the vehicle drivers to work smartly and to make certain they are leaving themselves with a significant measure of time and finance to get through the week up until they are compensated again.

 

So the next moment your trucking enterprise is having some temporary cash flow concerns and you are shelling out too much time chasing slow paying clients, why not start taking into consideration using a factoring businesses as a method to get your finances and give yourself a more comfortable future in the eyes of your trucking staff and your bank balance?

 

 

 

 

 

 

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Traditional Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. While these loans are handy they are not available to every business. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. 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 you have set up Trucking Factoring account it continues as long as you wish it too and the amount of money available to you even can grow as your business grows, giving you the ready cash you need to meet your own obligations.

 

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

 

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

 

1. There is no debt. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. No Collateral Required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This 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. With a Trucking Factoring company you can actually get the money you need faster. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.Interest is Paid Up Front. 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. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very efficient at debt collecting, and this frees up your valuable time to devote to running your 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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Factoring Companies by City

New York City

Los Angeles


Chicago


Houston


Philadelphia


Phoenix


San Antonio


San Diego


Dallas


San Jose

Austin


Jacksonville


Indianapolis


San Francisco


Columbus


Fort Worth


Charlotte


Detroit


El Paso


Memphis

 

 

Boston


Seattle


Denver


Washington DC


Nashville-Davidson


Baltimore


Louisville/Jefferson


Portland


Oklahoma City


Milwaukee


Las Vegas


Albuquerque


Tucson


Fresno


Sacramento


Long Beach


Kansas City


Mesa


Virginia Beach


Atlanta

 

Colorado Springs


Raleigh


Omaha


Miami


Oakland


Tulsa


Minneapolis


Cleveland


Wichita


Arlington