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How to Swim with The Banks without Being Eaten Alive - Our Freight Factoring Companies Can Provide
Your Trucking Company The Cash Your Company Needs

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freight invoice factoring

Factoring invoices is useful for several factors. It enables a truck company to raise money without obtaining new financial obligation. While debt is in some cases necessary, most freight broker firm would like to raise money without obtaining cash. Financial obligation is dangerous, and when it can not be repaid, properties can be repossessed. If the debt is large enough, it might even require a truck businesses out of business.

 

 

 

 

 

 

 

Only Companies with imagination can take it - Choose A Factoring Company Instead Of A Typical Bank Financing

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

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

Money flow does not have to be an issue any ever more. Do not be deceived -- banks are not the only locations you can get financing. Other solutions are available and you do not have to borrow money. Exactly what is trucking factoring ? One solution is called truck factoring. Trucking Factoring is the procedure of offering accounts receivable to a financier rather than waiting to gather the money from the client. Oh, the Irony- Truck factoring has an ironic difference: It is the monetary foundation of many of America's most successful companies. Why is this paradoxical ? Because truck factoring is not instructed in business colleges, is rarely discussed in company plans and is fairly unknown to the majority of most of American company individuals.

Yet it is a monetary process that frees billions of dollars every year, allowing thousands of companies to grow and succeed. Accounts Receivable Factoring has actually been around for thousands of years. Truck Factoring Businesses are investors who pay cash 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 actually to pay in the near future. Factoring Principals--Although factoring offers solely with business-to-business deals, a large portion of the retail company uses a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail deals. Using the purest definition of the word, these large customer finance business are really simply large Receivable Funding Companies of consumer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The shop makes money almost instantly, even though you do not make payment until you are prepared.

For this service, the credit card company charges Sears a fee (typical common normal fees vary from 2 to 4 percent of the sale). The Advantages Trucking Factoring can offer numerous benefits to cash-hungry companies. Rather than wait 30, 60, 90 days or longer for payment on an item that has currently been provided, a business can factor (sell) its receivables for cash at a little price cut off the dollar value of the invoice. Payroll, advertising efforts, and working capital are simply a few of the business needs that can be met with instant  money.

Invoice Factoring provides the ways for a manufacturer to renew stock and make more products to offer: There is no longer a need to wait for earlier sales to be paid. FACTORING is not just a cash management device for manufacturers: Practically any type business can benefit from Receivable Funding. Generally, a company that extends credit will have 10 to 20 percent of its yearly sales tied up in accounts receivable at any given time. Think for a moment about exactly how much is tied up 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 sell that invoice for the money to meet those obligations. Using trucking factoring companies is a fast and easy process. The factor buys the invoice at a price cut, typically a couple of percentage points less than the face value of the invoice.

 

 

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The American Truck Organization
mentions that there are about
205,000 workers with freight trucking
companies and
300,000 personal companies trucking
companies accredited to
operate in the U.S. that transported,
according to their most current data of millions
products, materials and
standard products .
There are numerous usual
providers either going solo or in
groups on our country
roads transporting these
crucial items to our
stores, factories and ports.

Also trucking factoring
businesses aid
several of them and offer their
receivable loan services
nationwidecounting
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

 

Laredo is the county seat of Webb County, Texas, United States, located on the north bank of the Rio Grande in South Texas, across from Nuevo Laredo, Tamaulipas, Mexico. According to the 2010 census, the city population was 236,191 making it the tenth most populous city in the state of Texas and 3rd most populated on the United States-Mexican border, after San Diego and El Paso. Its metropolitan area is the 178th-largest United States metropolitan area and covers all of Webb county, with a population of 250,304. Laredo is part of the Laredo-Nuevo Laredo Metropolitan Area with an estimate population of 636,516.Laredo's economy is based on international trade with Mexico. Most major transportation companies have a facility in Laredo. The city's location on the southern end of I-35 close to the manufacturers in northern Mexico promotes its vital role in trade between the two nations. Laredo International Airport is within the Laredo city limits, while the Quetzalcoatl International Airport is nearby in Nuevo Laredo on the Mexican side.Laredo has the distinction of flying seven flags (the Flag of the Republic of the Rio Grande in addition to the of Texas). Founded in 1755, Laredo grew from a villa to the capital of the brief Republic of the Rio Grande to the largest inland port on the United States-Mexican Border. Today, it has four international bridges and one railway bridge.Laredo has a professional soccer team, the Heat; baseball team, the Laredo Lemurs; and a women's full contact football team, the Laredo Roses. Texas A&M International University and Laredo Community College are located in Laredo.The biggest festival, Washington's Birthday Celebration is held all month long during February, attracting hundreds of thousands of tourists. The Jalape�o Festival, Border Beer Fest, Stockmen's Ball, Princess Pocahontas Pageant, Mr. South Texas Luncheon, an air show, and two major parades are all held in conjunction with the Washington's birthday events.

 

 

Watch Our Factoring 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

 

If you're like most drivers, you're looking for a better company in trucking that might be offering the best jobs in terms of pay, freight, and hometime ' not to mention benefits or a sign on bonus. We've got all of our clients listed based on the states where they're hiring, so you can quickly find the best job in your home state. You'll see the very best nationwide trucking companies that have positions available.

 

Click below to find Trucking Companies in the United States:

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

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

If you're like most drivers, you're looking for a better company in trucking that might be offering the best jobs in terms of pay, freight, and hometime ' not to mention benefits or a sign on bonus. We've got all of our clients listed based on the states where they're hiring, so you can quickly find the best job in your home state. You'll see the very best nationwide trucking companies that have positions available.

 

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

 

"

Since the mid 1980s Riley Truck & Haul have been successfully running their freight business. 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, Riley was a top rated accounts receivable mastermind of the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. 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, Riley 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. Spring changed to summer, summer changed to fall, and the CEO of Riley, Clyde Fields, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The numbers of clients who owed him back debt were growing.He had gone to his administrators and asked them what the problem had been. Were they doing things different, or wrong, when it came to collecting overdue accounts? When checking his bookkeeper's records this was definitely not the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. They could not afford to pay him their debt, but they could afford a lesser service, maybe. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Riley hadn't gone elsewhere. They had just gone home.The situation looked dire to Clyde Fields. 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. After work he would confide in his wife, Brittany, and neither were unable to stop the constant worry over the lack of funds.""Lin, I have a really bad feeling,"" he would say with deep woe.""Well, what do you think it is?"" she would say.Clyde 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 on earth was happening to create the death of his business?""I think I know what it could be,"" Clyde said. ""I've relied too long on the profits I receive from invoices alone. For too long I've been allowing our clients to let their accounts become overdue."" All Brittany could do was hold his hand and look at him tenderly. 'We know it is a difficult economy at the moment - perhaps it will take a while for people to get on top of their bills'.""Clyde knew very well that Brittany was only trying to help, but his responsibilities weighed heavily on his shoulders and he knew he had better do something soon to resolve this situation.The following day Clyde walked into his office with a spring in his step, determined to call each and every client who owed money to Riley Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Clyde knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. A waste of time - a waste of money - he had the best intentions, but all the while Clyde 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 Danielleerley knocked at his door.

 

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

 

""Sure thing Danielle, come on in."" Clyde leaned back in his chair and looked expectantly at Danielleerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Clyde."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard of factoring?"" she asked.""It does sound vaguely familiar. What is it?"" he said.She began, ""Well, it is really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Clyde interrupted ""Immediately?"".""Immediately, yes"" she added, ""In a nutshell, it is pretty easy. We can have an expert account manager review our numbers and help us complete a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.""I see,� Clyde 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.

 

The company will advise us the cost to purchase factoring for our company's accounts receivable. The funding commences once we�ve arrived at an agreement.�Clyde was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""I do not know, Danielle - it just sounds too good to be true"", Clyde said quietly.""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, Clyde,"" she underlined a paragraph on the paper before him.""Just how flexible?"" asked Clyde.""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.

 

""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" said Clyde.Clyde took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Clyde thought about this and agreed with Danielleerley. The clients who owed them money were long standing friends and professional resources of Riley. Clyde 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.""Well, let me think about this tonight Danielle, thank you."" Danielle nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Clyde sat behind his desk and looked over the details Danielle had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Riley 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. Clyde was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Clyde 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 Leroy about this,"" muttered Clyde to himself.Clyde's son-in-law, Leroy, loved the idea behind Riley 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. Clyde knew then what struggles Leroy would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Riley was struggling then the little guys, like Leroy, were going to be in even more trouble. But, an antidote may have been found in freight factoring and Clyde was soon to find out.Some months later, having successfully gone through the entire process of the application, having experts study his credit history and statements and review his accounts receivable, Clyde found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They used that time to refocus their efforts in being competitive in new territories. Clyde looked back on the dismal months of life before freight factoring and almost shuddered at the thought. If Clyde hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

Laredo is the county seat of Webb County, Texas, United States, located on the north bank of the Rio Grande in South Texas, across from Nuevo Laredo, Tamaulipas, Mexico. According to the 2010 census, the city population was 236,191 making it the tenth most populous city in the state of Texas and 3rd most populated on the United States-Mexican border, after San Diego and El Paso. Its metropolitan area is the 178th-largest United States metropolitan area and covers all of Webb county, with a population of 250,304. Laredo is part of the Laredo-Nuevo Laredo Metropolitan Area with an estimate population of 636,516.Laredo's economy is based on international trade with Mexico. Most major transportation companies have a facility in Laredo. The city's location on the southern end of I-35 close to the manufacturers in northern Mexico promotes its vital role in trade between the two nations. Laredo International Airport is within the Laredo city limits, while the Quetzalcoatl International Airport is nearby in Nuevo Laredo on the Mexican side.Laredo has the distinction of flying seven flags (the Flag of the Republic of the Rio Grande in addition to the of Texas). Founded in 1755, Laredo grew from a villa to the capital of the brief Republic of the Rio Grande to the largest inland port on the United States-Mexican Border. Today, it has four international bridges and one railway bridge.Laredo has a professional soccer team, the Heat; baseball team, the Laredo Lemurs; and a women's full contact football team, the Laredo Roses. Texas A&M International University and Laredo Community College are located in Laredo.The biggest festival, Washington's Birthday Celebration is held all month long during February, attracting hundreds of thousands of tourists. The Jalape�o Festival, Border Beer Fest, Stockmen's Ball, Princess Pocahontas Pageant, Mr. South Texas Luncheon, an air show, and two major parades are all held in conjunction with the Washington's birthday events.

 

 

More Trucking Factoring Companies Story Articles

"

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

 

More than forty years ago Herbert's father had started this business working as an owner-operator and eventually growing Hunter 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 Herbert'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 Herbert's hands and he needed to ensure that this business would be left in great shape for his sons.

 

To move Hunter 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. Every time he had to turn down a request, Hunter Trucking looked weak in a very strong market.

 

His father would have told him to wait and to take his time adding on new technology. Herbert allowed himself a good hard chuckle. He remembered when his father was totally against installing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. 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.

 

Herbert believed a successful man is always thinking of his next step. How would he take Hunter 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 this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Now it was time for Herbert to do his homework. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His 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. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

But it turned out to be quite easy. 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. 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.

 

For Herbert it was quite a relief to be dealing with the factoring company. 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. Factoring was based on the credit of his customers and on their reliability which worked well for Herbert because he and his father had built up good strong relationships over decades with their list of clients. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients would not have any problems, nor would they think poorly of Hunter 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, Herbert 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. He suddenly realized that, with this new cash flow, he could actually expand Hunter Trucking Company and who knows, move into Canada, which had always been his dream. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

"

 

 

Watch Our Trucking Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So, this is not a loan?� Lewis Wallace asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Lewis smiled at him, shaking her head.�No, not exactly,� she said.Lewis Wallace owned a small trucking company, and his business had recently fallen on difficult times. Trucking could be a profitable business, and for a little under a decade, it had been for Tim. His company was called Webb Trucking, named after both of his grandfathers, Brad and Andy. They had both been hardworking men, and had done a lot to make Lewis the same.Six months ago disaster struck Tim's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. Lewis depended on his full fleet, and missing two trucks was devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.A big problem a lot of trucking companies came across was how bills were paid in the industry. Waiting a month or longer for bills to be paid was quite normal. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Lewis 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. Her name was Gladys and she worked for a factoring company. Lewis 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.Gladys explained. �it is really not a loan at all: we actually buy your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. That way we�re protected from a complete loss, but you�re protected from the outrageous fees you would find in a loan from the bank.Lewis agreed. It sounded good to him, almost too good.Gladys laughed. �I'm not sure that you believe me,� she chuckled.�No, I do, I just think it sounds a bit too good to be true. I thought I was going to lose my company.�Gladys nodded. �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. We all need help sometimes. That�s what we�re here for.""Well, I'm very grateful that you came to see me today.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Gladys with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Lewis filled the form out, with Gladys available to help him if he needed it. The completed profile gave Gladys and her company all the information they needed on Tim's business, and with this information they would determine if this business would in fact be suitable for Factoring. Unfortunately, not all companies are. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. Listening as Lewis filled out his form, Gladys was pretty sure he was a perfect candidate for factoring.Gladys took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Tim�s hand. He also stood up, and they smiled at each other. They said their goodbyes and Lewis walked her to the door, and then returned to his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He leaned back and closed his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. Talking to Gladys though, learning about factoring, it felt like a weight had been lifted from his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.The long nights, where he couldn�t sleep. The sudden panic attacks, not matter where he was. Already he could feel all the stress start to drain away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was there, he was on the right path, and he was working to make things right.His mind wandered back to the very beginning, when he first started his business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been really successful. Home cooking in his hometown, and he had done very well.But he had gotten bored. His passion didn�t lie with the food industry. He thought long and hard, and then he decided to sell the restaurant. He took half a year off, and in that time he thought to start Webb Trucking. So he did it. Once again he built 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 about to turn 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 did not want to quit - both for himself and for his staff members.And now, because of factoring, he was sure he wouldn�t have to. Tim'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

Reasons why Trucking Agencies Use Factoring Companies.

 

As the operator of your own company, you may well be much more than aware already of the challenge in making certain that capital issues do not become a problem down the line. Anyway, the worst thing that can in all probability transpire for your enterprise is to find yourself swept up in a long and problematic situation that leaves you forever looking for the money you necessitate on an continuing basis.

 

For any company in this condition, the issue can come for waiting for work to clear up and actually be provided into your balance. Bill of sales, checks, and the like can take some time to actually to beprocessed which can certainly leave you with temporary cash flow problems. Gratefully, there are solutions out there for businesses to look into-- and just one of these is factoring companies.

 

Factoring firms will, in substitution for your bill of sales, grant you with the resources asap so you do not need to stress over the lingering time frame that could make paying off the expenses and getting materialsmore challenging. With this type of system, invoice factoring can end up being exceptionally useful for various establishments who ought to avoid a money pitfall which they have found themselves in.

 

Since, basing on the scale of the work, it can take up to 60 days for many establishments to get paid out then it is very important to blanket your own back and definitely not leave yourself funds short to pay off the costs. After all, how many establishments possess two months profits just lying there to cover all their spendings until they get paid?

 

This is particularly true of trucking establishments. They often handle good deals of invoices which means a notable quantity of collection time entails company owner themselves. Attempting to get paid off in time can turn into an extraordinary headache and this is the reason why you make use of truck factoring companies who are happy to help out truckers mainly.

 

As we all know, trucking is an remarkably massive field with countless organizations out there handling hundreds of operators. Unfortunately, numerous of these drivers land up in money predicaments given that they are still awaiting work from six weeks back to actually pay them. When this is the scenario for a truck company, depending on factoring providers for help maybe the finest choice left.

 

This means that a trucking organization can provide the wages of the work force, keep all the vehicles loaded with fuel and continue to go up, rise and expand without always waiting for the income which is taking too lengthy to come in. Trucking Companies running without a factoring program used are leaving themselves at considerable hazard, as rivals cash out rapidly and carry on to grow.

 

There's absolutely very little to be distressed about when it comes to using a Factoring firm-- they commonly are not like a banking company or an individual who is going to leave you with a huge pile of financial obligation to repay. You give them authentic invoices from work you have already accomplished , you are only accelerating the repayment process.

 

In the Usa, where trucking firms develop, factoring establishments are not considered taking on loan in any capacity. This confidential deal then lets both parties to make money and indulge in a comfortable future-- it gives the factoring business a guaranteed resource of money to put into the list and it furnishes the trucking business the needed cash that they sweated to generate.

 

The trucking company gives their invoices to the factoring agency. The trucking factoring business then receive the payment amounts from the trucking company's customers. Factoring has been all around for centuries and has been utilized for many years by plenty of diverse markets-- but none much more so than truckers. While you might lose out on a small part of the money, something like 1-3 % depending on who you deal with, it signifies that you are acquiring the finances today and can actually start off setting the resources to do work.

 

Once and for all, an IOU or an invoice is absolutely not going to pay for spendings, is it? For trucking firms when the hard earned cash can be really good one day and gone the next, it is up to the drivers to work prudently and to make sure they are leaving themselves with a significant volume of time and money to get through the week up until they are paid for once more.

 

So the next instance your trucking company is enduring some temporary cash flow problems and you are putting in way too much time chasing inactive paying clienteles, why not begin considering employing a factoring companies as a method to get your cash and give yourself a more convenient future in the eyes of your trucking workers and your bank dividend?

 

 

 

 

 

 

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Traditional Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. These loans can be a life-saver, but they're not always available to every business. 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 offer loans, and you do not go into debt when you get money from a Trucking Factoring company. 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 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

 

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

 

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

 

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

 

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

 

4.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 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. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

Another bonus is that, because the Trucking Factoring company has evaluated the quality of your customers' credit before buying the accounts receivable, you learn valuable information regarding your customers, like which ones are likely to pay, and which ones are less likely to pay.While a Trucking Factoring company is not the only way for your business to obtain the money it needs to keep growing, it does offer a type of financing well worth considering.

 

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