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To Companies Who Want To Write - but Can't Get Started - Our Truck Factoring Company Can Give
Your Trucking Company The Cash You Need

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Medium-Size trucking businesses, specifically those who have not been in existence for really long, will frequently discover it challenging to protect a loan. Banks are often hesitant to lend money to businesses that do not have a lot of income and assets. They also want proof of the practicality of a company and therefore require that most operations, specifically little ones, been around for a certain amount of time prior to they are eager to hand over any money. Due to the fact that of this, a medium-size business commonly has few money producing options when requires develop. One alternative available, but typically ignored, is factoring. This is an outstanding means for a medium-size company to obtain money.

 

 

 

 

 

 

 

The Secrets of Making People Like You Get - Pick A Factoring Company Instead Of A Regular Bank Financing

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

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

Cash flow does not have to be an issue any ever more. Do not be fooled -- banks are not the only places you can get funding. Other options are offered and you do not have to borrow. Exactly what is trucking factoring ? One option is called trucking factoring. Truck Factoring is the process of selling invoices to an investor rather than waiting to collect the money from the customer. Oh, the Irony- Truck factoring has a paradoxical difference: It is the financial backbone of numerous of America's most successful companies. Why is this ironic ? Because trucking factoring is not instructed in business colleges, is seldom mentioned in business plans and is fairly unknown to the majority of most of American business individuals.

Yet it is a monetary process that releases up billions of dollars every year, enabling countless companies to grow and succeed. Receivable Loan Financing has been around for countless years. Receivable Financing Businesses are financiers who pay money for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a debt your client has to pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business deals, a big portion of the retail business uses a factoring principal. MasterCard, Visa, and American Express all utilize a type of factoring in their retail deals. Utilizing the purest definition of the word, these big consumer finance companies are truly just big Factoring Businesses of consumer paper. Consider it: You make a purchase at Sears and charge it to your MasterCard. The shop makes money practically immediately, although you do not make payment up until you are prepared.

For this service, the credit card business charges Sears a charge (typical common normal fees vary from 2 to four percent of the sale). The Advantages Accounts Receivable Factoring can provide numerous benefits to cash-hungry business. Instead of waiting 30, 60, 90 days or longer for payment on a product that has currently been provided, a business can factor (sell) its receivables for money at a small price cut off the dollar value of the invoice. Payroll, marketing efforts, and working capital are simply a few of the business needs that can be satisfied with instant  cash.

Receivable Loan Funding provides the means for a manufacturer to renew inventory and make more products to sell: There is no longer a need to wait for earlier sales to be paid. FACTORING is not just a money management device for producers: Practically any kind company can benefit from Staffing Factoring. Typically, a company 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 exactly how much is bound in 60 days' worth of invoices: You can not pay the power expense or today s payroll with a customer s invoice, but you can offer that invoice for the money to satisfy those obligations. Using truck factoring companies is a quick and easy process. The factoring company buys the invoice at a discount, usually a couple of portion points less than the stated value of the invoice.

 

 

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The United states Transportation Organization
specifies that there around
205,000 employees with truck
companies and
276,000 private providers trucking
firms licensed to
run in the United States that transported,
according to their most current data of millions
items, supplies and
standard products .
There are a number of common
providers either going solo or in
groups on our nation
roadways transporting these
crucial products to our
shops, manufacturingplants and harbors.

Furthermore truck factoring
companies benefit
countless of them and offer their
accounts receivablesfinancing 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

 

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 Trucking Factoring YouTube Videos For More Information

 

Factoring Companies Calculator
This calculator will show you how much you will make by using our Factoring Companies . But, as your about to discover, you will certainly notice the increased cash flow that will occur when you use our Factoring Companies
Enter the principal balance of your Factoring Companies
(call your Factoring Companies lender and ask for the current payoff amount):
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Click below to find Trucking Companies in the United States:

Trucking Companies serving to/from points within the United States,
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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.

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

 

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

 

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

 

 

"

Jackson 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, Jackson 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

 

. And worse yet, Jackson 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, Paul Morris, CEO of Jackson felt a chill go down his spine whenever he would look at the weekly A/R reports. The number of clients who were late in their payments was continuing to grow.He had gone to his administrators and asked them what the problem had been. Were they doing things different, or wrong, when it came to collecting overdue accounts? When checking his bookkeeper's records this was definitely not the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Jackson 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 Jackson hadn't gone elsewhere. The had just gone!.To Paul Morris the situation looked desperate. He had employees to pay, goods to ship, trucks to maintain and overhead that was almost unbearable when compared against the lack of funds that were coming in. After work he would confide in his wife, Karen, and neither were unable to stop the constant worry over the lack of funds.""I have a bad feeling, Lin,"" he would say with deep woe.""Well, what do you think it is?"" she would ask.Paul would stare off into the distance, and then slowly close his eyes. He could see the fleet of trucks he had purchased over the years. He could see them on the road, delivering good to all his loyal customers. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. What on earth was happening to create the death of his business?""I know what it is,"" Paul 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."" 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.

 

""Paul knew very well that Karen 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 Paul walked into his office with a spring in his step, determined to call each and every client who owed money to Jackson Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Paul knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. Wasting money, wasting time - even with the best of intentions, Paul knew that he was in trouble.

 

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

 

""Can I have a word with you Paul?"" she queried, standing in the doorway.

 

""Sure thing Brandy, come on in."" Paul relaxed back into his chair and looked up at Brandyerley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Paul."" 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?"" Brandyerley asked.""It sounds vaguely familiar. What is factoring""? he asked.She began, ""Well, it is really very simple. So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Paul interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""it is actually very simple. 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. 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,� Paul said. �And then what?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. There�s a lot of flexibility depending on the business volume and credit histories. The company will advise us the cost to purchase factoring for our company's accounts receivable. We come to an agreement and the funding starts pouring out.�Paul leaned forward and reviewed the paperwork closely.""I do not know, Brandy - it just sounds too good to be true"", Paul 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. And they're flexible Paul,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" asked Paul.""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. 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 Paul.He took a deep breath and looked at his secretary with something she recognized as hope.""Exactly�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Paul took a moment to think about this solution, and agreed with his secretary. The clients who owed them money were long standing friends and professional resources of Jackson. They did not want to throw away these relationships because they were having trouble paying their bills now. Paul knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. That unknown amount of time could create a disaster situation for both of them if he wasn't careful in how these debtors were handled. 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 Brandy, and thankyou."" Brandy nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Paul sat behind his desk and looked over the details Brandy had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Jackson Truck & Haul with? With his pencil gliding down the sheet he noticed that the factoring company could help fray the cost of fuel with fuel discount cards and fuel advances. In fact, Jackson could receive up to fifty-percent cash advances upon load pick-ups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""Well, I'll have to tell Michael about this,"" muttered Paul to himself.His son-in-law Michael had liked the idea of Jackson so much and revered his father in law for having such business acumen that only two years before, he had gathered the venture capital to begin his own transportation service company. Paul knew then what struggles Michael would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Jackson was struggling then the little guys, like Michael, were going to be in even more trouble.

 

But, an antidote may have been found in freight factoring and Paul was soon to find out.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Paul found himself beginning to dig his way out of the hole his delinquent account holders had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They used that time to refocus their efforts in being competitive in new territories. Paul 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.

 

"

 

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

 

 

More Trucking Factoring Companies Story Articles

"

Factoring in the Future of a Trucking Business: A Story The phone was ringing on his desk, and Gene Lawson just sat there letting it ring. He let his morning coffee cool and left his cigarette to ash itself in the tray, because he is trying to make the biggest decision ever for his trucking company. Lawson Trucking Company was at a turning point of growth and Gene had to decide if signing with a factoring company was the right way forward.

 

Gene�s father had started as an owner-operator and had grown Lawson 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 Gene�s mother strapped herself into a cab 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. Now the company was solely in Gene�s hands and he wanted to live to see it in better shape for his sons.

 

To move Lawson 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 had families and household bills too. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. He knew that turning down these requests made Lawson 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. Gene allowed himself a good hard chuckle. He remembered when his father was totally against installing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. His father days were long gone and technology was actually an important improvement for the business such as having Qualcomm to cut down on fruitless time communicating on the phone for bills of lading.

 

Gene knew he was right in his forward thinking. How would he take Lawson Trucking to the next level? More importantly, how could he afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

He wondered about factoring - was this the answer for him? If he was being honest, he did not really understand how it all worked. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without 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.

 

Now it was time for Gene to do his homework. Gene 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. 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 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?

 

However, it all turned out to be very simple. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. 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. 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. He was more than happy with the figures he was offered in percentage terms on the freight bills. It was good money.

 

For Gene it was quite a relief to be dealing with the factoring company. They were more personable than those loan managers at the bank. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies were not interested in his credit nor the financial problems his father had experienced in the past. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Gene because he and his father had created a very strong and loyal list of clientele over the years. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients wouldn�t think poorly of Lawson 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, Gene 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 Lawson Trucking Company and who knows, move into Canada, which had always been his dream. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

"

 

 

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Trucking Factoring  Articles

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�So It is not a loan?� asked Lawrence Holmes, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�No, not exactly,� she said.Lawrence Holmes 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 Willard. He named his business Chavez Trucking, named after Brett and Brian, his two grandfathers. Both of these men had been very hardworking and had set a great example for Willard.Disaster had struck half a year ago, when two trucks in Willard�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. Lawrence 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. You could go a month or more before bills were completely paid off. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Lawrence was an excellent business man, and he certainly hadn't done anything wrong. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.That�s where the woman across the desk came in. Lawrence knew she was employed by a Factoring company and that her name was Angela. Lawrence 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 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.Lawrence agreed. It sounded good to him, almost too good.Angela laughed. �I'm not sure that you believe me,� she said.�Oh no, I do: it just sounds too good to be true. I actually thought I might end up losing my business.�Angela smiled, agreeing. �Yes, we get a lot of that. Listen, I�d hate to see you lose your company. You work hard, you�ve put everything you can into it. We all need help sometimes. That�s what we�re here for.""In any case, thank you for coming to see me.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Angela with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Lawrence filled the form out, with Angela available to help him if he needed it. The completed profile gave Angela and her company all the information they needed on Willard'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. Listening as Lawrence filled out his form, Angela was pretty sure he was a perfect candidate for factoring.When the form was done Angela took it and slid it into her briefcase. She then stood, reached across the desk and shook Willard�s hand. He also stood up, and they smiled at each other. Lawrence walked Angela to the door where they said 'Goodbye', then he went back into his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He shut his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. But now, after speaking to Angela and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off 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 terrifying panic attacks that occurred regardless of where he was. He could feel it all fading away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.His mind wandered back to the very beginning, when he first started his business. 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. His passion didn�t lie with the food industry. He thought long and hard, and then he decided to sell the restaurant. He took six months off, and during that time he decided to create Chavez Trucking. So he did it. For the second time in his short life he created a company from the ground up. He had been successful.And then the trucks went down, and his success looked to be in flux. He was about to turn fifty. He was concerned that he just did not have the energy left to try and save the business. But he couldn�t give up. The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He didn�t know how to say quit.And now it seemed as though he would not have to - all because of Factoring. Lawrence opened his eyes, sat forward, turned his computer on. 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

Reasons why Truck Corporations Use Factoring Firms.

 

As the manager of your own business, you may perhaps be more than mindful already of the challenge in making certain that cash flow concerns do not become a predicament down the line. After all, the most terrible thing that can potentially develop for your enterprise is to find yourself dragged in a long and challenging situation that leaves you forever searching for the finances you are in need of on an continual basis.

 

For pretty much any enterprise in this position, the dilemma can come for waiting for work to clear up and actually be paid into your account. Invoices, checks, and the like could take some time to actually to beprocessed which can certainly leave you with short-term cash flow problems. Luckily, there are alternatives out there for enterprises to explore-- and just one of these is factoring providers.

 

Factoring companies will, in exchange for your statements, offer you with the money immediately so that you do not need to fret about the waiting time span that could make paying the bills and acquiring materialsmore hard. With this type of setup, invoice factoring can come to be exceptionally valuable for various firms who ought to avoid a money lure which they have gotten themselves in.

 

For the reason that, basing on the volume of the project, it can take up to 60 days for many business enterprises to get compensated then it is important to cover up your own back and certainly not leave yourself money short to settle the bills. After all, how many establishments possess two months profits just occupying there to deal with all their spendings until they make money?

 

This is most especially correct of trucking companies. They have the tendency to take care of numbers of invoices which means a huge amount of collection time concerns business owner themselves. Trying to get paid promptly can eventually become an amazing struggle and this is the key reasons why you use truck factoring companies who are thrilled to help out truckers exclusively.

 

As most of us know, trucking is an unbelievably large industry with many agencies out there employing hundreds of operators. The sad thing is, quite a few of these drivers land up in money issues considering that they are still anticipating work from six weeks in the past to actually compensate them. When this is the condition for a truck business, turning to factoring companies for support could be the most effective alternative left.

 

This indicates that a truck business can pay the salaries of the work force, keep all the trucks topped off with fuel and continue to scale, develop and expand without always waiting for the resources which is taking too long to come in. Trucking Firms working without a factoring system put in place are leaving themselves at notable hazard, as contenders cash out promptly and proceed to broaden.

 

There's genuinely not a thing to be distressed about when it comes to using a Factoring company-- they are not like a financial institution or any individual who is going to leave you with a large mound of personal debt to repay. You give them legitimate invoices from output you have already finished , you are simply quickening the payment process.

 

In the United states of America, where truck companies develop, factoring establishments are not considered taking on loan in any capacity. This confidential agreement then allows both parties to make money and indulge in a worry-free future-- it gives the factoring firm a guaranteed resource of cash flow to put into the list and it supplies the trucking firm the required money that they worked hard to generate.

 

The trucking business provides their invoices to the factoring firm. The trucking factoring firm then obtain the installment payments from the trucking company's customers. Factoring has beenaround for centuries and has been adopted for decades by lots of different business sectors-- but none exceeding so than truckers. While you may lose out on a small part of the money, something like 1-3 % depending on who you team up with, it implies that you are getting the cash today and can actually start setting the money to do work.

 

After all, an IOU or an invoice is not actually going to fund costs, is it? For trucking firms when the resources can be fantastic one day and gone the next, it is up to the drivers to work smartly and to ascertain they are leaving themselves with a significant measure of time and money to get through the week till they are handed over again.

 

So the next time your trucking company is enduring some short-term cash flow problems and you are putting in too much time chasing slow paying customers, why not start taking into consideration employing a factoring businesses as a means to get your cash and give yourself a more at ease future in the eyes of your trucking personnel 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. These loans can be a life-saver, but they're not always available to every business. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Once the loan is paid off, you can then apply for another loan if the need arises.

 

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. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to sell. Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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

 

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

 

3. Receive Your Money Faster. Using a Trucking Factoring company means that you'll get the finance quicker. 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. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.

 

4.Interest is Paid Up Front. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you do not have to continue to pay interest as they take it right off the top, deducting it from the total amount of accounts receivable. So 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, 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.

 

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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