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Here Is a Quick way to Shore Up Your Cash Flow - Our Receivable Factoring Company Can Give
Your Trucking Company The Money Your Company Needs

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Using a Truck Factoring Company is advantageous for several reasons. It permits a trucking company to raise money without getting brand-new debt. While debt is occasionally required, a lot of truck companies would like to raise cash without obtaining money. Debt is high-risk, and when it can not be repaid, assets can be repossessed. If the debt is huge enough, it may even force a freight brokerage out of business.

 

 

 

 

 

 

 

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

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

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

Money flow does not have to be an issue any more. Do not be deceived -- banks are not the only places you can get funding. Other solutions are available and you do not have to borrow. What is trucking factoring ? One solution is called trucking factoring. Trucking Factoring is the process of offering invoices to an investor instead of waiting to collect the cash from the customer. Oh, the Irony- Trucking factoring has an ironic distinction: It is the financial backbone of many of America's most successful businesses. Why is this paradoxical ? Since receivable funding is not taught in business colleges, is seldom discussed in business plans and is relatively unknown to bulk of most of American company people.

Yet it is a monetary process that frees billions of dollars every year, enabling countless companies to grow and succeed. Receivable Loan Funding has actually been around for thousands of years. Trucking Factoring Companies are financiers who pay cash for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your customer has actually to pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business transactions, a big percentage of the retail company uses a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail deals. Using the purest meaning of the word, these large consumer finance business are truly just large Receivable Financing Companies of consumer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The store gets paid practically instantly, although you do not pay until you are ready.

For this service, the charge card company charges Sears a charge (typical common normal fees range from two to four percent of the sale). The Benefits Truck Factoring can provide numerous advantages to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on an item that has currently been delivered, a company can factor (sell) its receivables for money at a little price cut off the amount of the invoice. Payroll, marketing efforts, and working capital are simply a few of the business needs that can be met with instant  cash.

Staffing Factoring offers the ways for a producer to renew inventory and make even more products to offer: There is no longer a requirement to wait for earlier sales to be paid. Receivable Loan Financing is not just a cash management device for producers: Practically any type business can take advantage of Accounts Receivable Factoring. Generally, a business that extends credit will have 10 to 20 percent of its yearly sales tied up in invoices at any given time. Think for a moment about exactly how much is bound in 60 days' worth of invoices: You can not pay the power bill or this week s payroll with a customer s invoice, but you can offer that invoice for the cash to satisfy those obligations. Using trucking factoring companies is a fast and simple process. The factoring company purchases the invoice at a price cut, typically a few portion points less than the face value of the invoice.

 

 

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The U.s. Transportation Organization
mentions that there around
195,000 truck drivers with truck
businesses and
276,000 private companies trucking
firms licensed to
operate in the United States that transferred,
according to their newest data of millions
products, supplies and
basic materials .
There are several typical
carriers either going solo or in
teams on our nation
roadways transferring these
crucial products to our
stores, manufacturing facilities and ports.

Also trucking factoring
firms support
numerous of them and offer their
accounts receivablesfinancing 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

 

Sacramento is the capital city of the U.S. state of California and the seat of government of Sacramento County. It is at the couence of the Sacramento River and the American River in the northern portion of California's expansive Central Valley. With an estimated 2011 population of 477,892, it is the sixth-largest city in California and the 35th largest city in the United States. Sacramento is the core cultural and economic center of the Sacramento metropolitan area which includes seven counties with an estimated 2009 population of 2,527,123. Its metropolitan area is the fourth largest in California after the Greater Los Angeles Area, San Francisco Bay Area, and the San Diego metropolitan area, as well as the 27th largest in the United States. In 2002, the Civil Rights Project at Harvard University conducted for TIME magazine named Sacramento �America�s Most Diverse City.�Sacramento became a city through the efforts of the Swiss immigrant John Sutter, Sr., his son John Sutter, Jr., and James W. Marshall. Sacramento grew quickly thanks to the protection of Sutter's Fort, which was established by Sutter in 1839. During the California Gold Rush, Sacramento was a major distribution point, a commercial and agricultural center, and a terminus for wagon trains, stagecoaches, riverboats, the telegraph, the Pony Express, and the First Transcontinental Railroad.California State University, Sacramento, more commonly known as Sacramento State or Sac State, is the largest university in the city and one of 23 campuses in the California State University system. Drexel University Sacramento and the University of the Pacific McGeorge School of Law are in Sacramento. In addition, the University of California, Davis, is in nearby Davis, 15 miles (24 km) west of the capital. The UC Davis Medical Center, a world-renowned research hospital, is located in the city of Sacramento.

 

 

Watch Our Factoring YouTube Video For More Information

 

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

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.

 

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.

 

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.

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.

 

"

Since the mid 1980s Anderson Truck & Haul have been successfully running their freight business. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the boom times from 2002 to 2007 Anderson Truck & Haul was the mastermind of a top-rated accounts receivable in 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 down. And worse yet, Anderson had noticed during the early part of 2008 that though the bulk of their clients were always on time with payments, the few late-bloomers there were, had seemingly started to spread this illness. And as spring turmed to summer and summer into the early days of fall, Christopher Willis, CEO of Anderson felt a chill go down his spine whenever he would look at the weekly A/R reports. There was a growing list of clients who now owed them back debt.He had already been to the administrators to ask what the actual problem was. Were they doing things different, or wrong, when it came to collecting overdue accounts? By his bookkeepers records, this wasn't the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Anderson money had jumped ship and decided to leave him holding the bag.

 

. 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 Anderson hadn't gone elsewhere. They had just gone home.The situation looked dire to Christopher Willis. He had employees to pay, goods to ship, trucks to maintain and overhead that was almost unbearable when compared against the lack of funds that were coming in. In the evenings he would discuss his concerns with his wife, Lisa, and still find no relief from the worry and frustration.

 

""I have a bad feeling, Lin,"" he'd sadly say to his wife.""What could you do differently?"" she would ask.Christopher would stare off into the distance, and then slowly close his eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them traveling, bringing goods to all of his clients. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. Why couldn�t he work out how to resolve this financial problem with his business?""I know what it is,"" Christopher said. ""For way too long I've been relying solely on profits received from invoices. For too long I've been allowing our clients to let their accounts become overdue."" Lisa 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'.""Christopher knew his wife meant well, but he knew that he was responsible for too many people to sit idly by, waiting for the sun to peak over the clouds.The next day Christopher strolled into his office and was determined to sit down and make every phone call to every client who had owed Anderson money. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. A waste of time - a waste of money - he had the best intentions, but all the while Christopher was realising just how much trouble he was in.After a half day of contacting debtors in vain - they dodged his calls or promised to call back at worst or made minimal interest-only payments at best - he was about to throw in the towel when his secretary Juditherley knocked at his door.

 

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

 

""Of course Judith, please come in."" Christopher relaxed back into his chair and looked up at Juditherley.""Well Christopher, this afternoon I did some research, trying to work out how we are going to get out of this mess."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard of factoring?"" Juditherley asked.""It sounds 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.""Immediately?"" Christopher interrupted.""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. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It provides a very broad view.""I see,� Christopher said. �And then what?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

This company tells us what the cost will be to purchase factoring for our accounts receivable. The funding commences once we�ve arrived at an agreement.�Christopher was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Judith,"" 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, Christopher,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" he asked.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. It only takes 2 to 4 days for this to be figured out. ""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" said Christopher.He took a deep breath and looked at his secretary with something she recognized as hope.""Precisely�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Christopher thought about this and agreed with Juditherley. The customers who were in debt to Anderson Truck & Haul were professional resources of the company, but they were also long-standing friends. They did not want to throw away these relationships because they were having trouble paying their bills now. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. Of course he did not want to lose any more money, but he did not want to lose business either.""Well, let me think about this tonight Judith, thank you."" Judith nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Christopher keep the shirt on his back, and possibly hers too.Christopher 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 Anderson 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. Christopher was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Christopher was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""I must tell Angel the good news,"" muttered Christopher to himself.Christopher's son-in-law, Angel, loved the idea behind Anderson and highly respected his father-in-law for having such great business sense, that two years ago he got his capital together and started his own transportation company. Christopher knew then what struggles Angel would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Anderson was hurting, a little guy like Angel was about to catch his death. Perhaps the antidote to these problems was in freight factoring, and they were about to find out.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Christopher 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 took that time and refocused effort to offering competitive prices in new territories. Christopher recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. He probably wouldn't be in business today had he not learned just in time about freight factoring.

 

"

 

Sacramento is the capital city of the U.S. state of California and the seat of government of Sacramento County. It is at the couence of the Sacramento River and the American River in the northern portion of California's expansive Central Valley. With an estimated 2011 population of 477,892, it is the sixth-largest city in California and the 35th largest city in the United States. Sacramento is the core cultural and economic center of the Sacramento metropolitan area which includes seven counties with an estimated 2009 population of 2,527,123. Its metropolitan area is the fourth largest in California after the Greater Los Angeles Area, San Francisco Bay Area, and the San Diego metropolitan area, as well as the 27th largest in the United States. In 2002, the Civil Rights Project at Harvard University conducted for TIME magazine named Sacramento �America�s Most Diverse City.�Sacramento became a city through the efforts of the Swiss immigrant John Sutter, Sr., his son John Sutter, Jr., and James W. Marshall. Sacramento grew quickly thanks to the protection of Sutter's Fort, which was established by Sutter in 1839. During the California Gold Rush, Sacramento was a major distribution point, a commercial and agricultural center, and a terminus for wagon trains, stagecoaches, riverboats, the telegraph, the Pony Express, and the First Transcontinental Railroad.California State University, Sacramento, more commonly known as Sacramento State or Sac State, is the largest university in the city and one of 23 campuses in the California State University system. Drexel University Sacramento and the University of the Pacific McGeorge School of Law are in Sacramento. In addition, the University of California, Davis, is in nearby Davis, 15 miles (24 km) west of the capital. The UC Davis Medical Center, a world-renowned research hospital, is located in the city of Sacramento.

 

 

More Trucking Factoring Companies Story Articles

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

 

Ricky�s father had started as an owner-operator and had grown Kennedy Trucking Company into a fifteen trailer fleet over forty years. There had been some hard times when it seemed everything was going to go under and even Ricky�s mother strapped herself into a cab 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 Ricky�s hands and he wanted to live to see it in better shape for his sons.

 

There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. His employees needed to be paid. They had families and household bills too. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. Every time he had to turn down a request, Kennedy Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Ricky chuckled, thinking about his father. He remembered when his father was totally against installing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). He knew his father's days were long gone and new technology was very important for the business, like having Qualcomm to reduce communication time for bills of lading.

 

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

 

But was factoring the answer? 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. 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 the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Ricky had to really consider what his next step was going to be. Ricky had heard that there were companies that charged for same day money transfers and would only advance a percentage of the money owed to your company while holding the rest in a private account if they didn�t get their bill payment within 60 or so days. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

However, it all turned out to be very simple. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He was quite happy to sign an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. Many companies offered a non-recourse factoring program that suited him just fine. He was more than happy with the figures he was offered in percentage terms on the freight bills. It was good money.

 

It was really refreshing dealing with the factoring people. They were more personable than those loan managers at the bank. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies were not interested in his credit nor the financial problems his father had experienced in the past. Factoring was based on the credit of his customers and on their reliability which worked well for Ricky because he and his father had built up good strong relationships over decades with their list of clients. So he knew they would understand when the factoring company contacted them for the invoices. His clients wouldn�t think poorly of Kennedy 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, Ricky 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. With the capabilities of this new cash flow, Ricky could actually expand Kennedy Trucking Company further across the country and perhaps even go international into Canada. His heart felt full knowing his sons wouldn�t have to worry about money because of the right decisions he had made for their trucking business.

 

 

 

 

 

Receivablesfactoring.Co.Uk

 

Staffingcompany.Org

 

View Our Truck Factoring Companies Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� Jordan Hernandez asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Jordan smiled at him, shaking her head.�Not quite,� she said.Jordan Hernandez 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 Chester. He named his business Morrison Trucking, named after Clyde and Ronnie, his two grandfathers. Both of these men had been very hardworking and had set a great example for Chester.Disaster had struck half a year ago, when two trucks in Chester�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 Chester's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Jordan had on hand.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

You could go a month or more before bills were completely paid off. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Jordan 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 Violet and she worked for a factoring company. Jordan 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.Jordan nodded. It sounded good to him, almost too good.The woman laughed. �You look like you don�t believe me,� she said.�Oh no, I do: it just sounds too good to be true. I actually thought I might end up losing my business.�Violet smiled, agreeing. �Yes, we get a lot of that. Listen, I�d hate to see you lose your company. We know how hard you work, and that you've invested everything in your business. Sometimes you need help. That's why we do what we do.""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,� Violet said with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Jordan completed the form, with Violet offering advice as needed.

 

The completed profile gave Violet and her company all the information they needed on Chester'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 were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. As Jordan completed his form, Violet listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Violet took it and slid it into her briefcase. She then stood, reached across the desk and shook Chester�s hand. He stood before they shook as well, and then smiled. Jordan walked Violet to the door where they said 'Goodbye', then he went back into his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He shut his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. Talking to Violet though, learning about factoring, it felt like a weight had been lifted from his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.The long nights, where he couldn�t sleep. The terrifying panic attacks that occurred regardless of where he was. Already he could feel all the stress start to drain away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.His mind wandered back to the very beginning, when he first started his business. At twenty-two and straight out of school he had opened a restaurant. It had been really 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 Morrison Trucking. So he did it. For the second time in his short life he created a company from the ground up. The business had been an instant success.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was about to turn fifty. He didn�t think he had it in him, to save this company. But giving up wasn't part of his personality either.

 

The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He 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. Chester's eyes opened, he sat forward in his chair and turned on his computer. He had lots to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

Precisely why Truck Agencies Use Factoring Companies.

 

As the operator of your own establishment, you may be more than wary already of the difficulty in making sure that cash flow matters do not become a dilemma down the line. Anyway, the most disappointing thing that can in all probability take place for your business is to find yourself embroiled in a long and troublesome predicament that leaves you forever trying to find the money you really need on an recurring manner.

 

For any kind of enterprise in this scenario, the concern can come for waiting for work to lapse and actually be paid into your bank account. Invoices, checks, and the like could take some time to actually to beprocessed which may leave you with momentary capital troubles. Fortunately, there are approaches out there for firms to consider-- and just one of these is factoring firms.

 

Factoring providers will, in exchange for your statements, supply you with the money immediately to ensure that you do not need to fret about the waiting duration which could make paying out the bills and obtaining materialsmore hard. With this type of arrangement, invoice factoring can become incredibly useful for plenty of businesses who have to get out of a cash ploy which they have gotten themselves in.

 

Since, relying on the scale of the project, it can take up to 60 days for some establishments to get paid then it is critical to blanket your own back and not leave yourself money short to pay the costs. After all, how many companies possess two months earnings just lying there to pay for all their spendings until they make money?

 

This is specifically true of trucking enterprises. They generally take care of bunches of statements which means a notable amount of collection time demands business owner themselves. Trying to get compensated in time can eventually become an incredible inconvenience and this is exactly why you make use of truck factoring agencies who are glad to help out truckers specifically.

 

As most of us understand, trucking is an incredibly big business with countless agencies out there handling hundreds of vehicle drivers. The sad thing is, plenty of these drivers land up in income predicaments considering that they are still waiting for work from six weeks in the past to actually pay them. When this is the case for a trucking firm, depending on factoring firms for aid could be the finest choice left.

 

This indicates that a trucking corporation can pay out the salaries of the personnel, keep all the trucks filled with gas and continue to go up, rise and expand without constantly waiting for the money which is taking too prolonged to come in. Trucking Enterprises operating without a factoring system applied are leaving themselves at substantial danger, as contenders cash out rapidly and continue to expand.

 

There's genuinely not much to be distressed about when it comes to utilizing a Factoring establishment-- they are not like a banking company or any individual who is going to leave you with a considerable pile of financial obligation to repay. You give them legitimate invoices from job you have already completed , you are just facilitating the payment system.

 

In the United states of America, where truck establishments do well, factoring providers are not considered taking on loan in any capacity. This private arrangement then enables both parties to benefit and experience a worry-free future-- it provides the factoring firm a guaranteed asset of earnings to add to the list and it furnishes the trucking firm the required finances that they worked hard to get.

 

The trucking firm bestows their invoices to the factoring enterprise. The trucking factoring provider then acquire the payments from the trucking company's clients. Factoring has been in existence for centuries and has been used for long times by a lot of diverse 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 upon who you team up with, it signifies that you are getting the money today and can actually begin putting the money to operate.

 

Once and for all, an IOU or an invoice is not actually going to pay for expenditures, is it? For trucking agencies when the money can be excellent one day and gone the next, it is up to the vehicle drivers to work prudently and to ascertain they are leaving themselves with a substantial quantity of time and money to get through the week up until they are paid for again.

 

So the next occasion your trucking establishment is enduring some temporary capital troubles and you are shelling out way too much time chasing slow paying clients, why not begin taking into consideration making use of a factoring businesses 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

 

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. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Once the loan is paid off, you can then apply for another loan if the need arises.

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies do not offer loans, and you do not go into debt when you get money from a Trucking Factoring company. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once you have set up Trucking Factoring account it continues as long as you wish it too and the amount of money available to you even can grow as your business grows, giving you the ready cash you need to meet your own obligations.

 

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. 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. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. 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. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

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

 

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

 

4.You receive interest 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 you do not have to worry about monthly loan repayments, and you do not have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a bank. The most important benefits is that once you sell your accounts receivable to the factory company, you do not have to take time away from running your business to collect the money owed from reluctant to pay customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very 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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