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My Company has 9 New Products - Imagine - Our Factoring Company Can Provide
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truck factoring definition

factoring services for trucking companies

trucking invoice factoring companies

freight bill factoring companies

Trucking Factoring is beneficial for a number of factors. It permits a truck firm to raise cash without obtaining new debt. While financial obligation is sometimes required, many truck companies would choose to raise cash without borrowing money. Financial obligation is risky, and when it can not be repaid, possessions can be repossessed. If the financial obligation is big enough, it might even force a freight brokerage out of business.

 

 

 

 

 

 

 

Receivables Mysteriously Disappear from the Books - Choose A Freight�Brokerage Factoring Company  Instead Of A Traditional Bank Financing

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

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

Cash flow does not have to be a problem any ever more. Do not be deceived -- banks are not the only places you can get financing. Other options are offered and you do not have to borrow. What is truck factoring ? One option is called truck factoring. Truck Factoring is the process of selling invoices to a financier instead of waiting to gather the cash from the customer. Oh, the Irony- Truck factoring has an ironic difference: It is the financial backbone of many of America's most successful businesses. Why is this paradoxical ? Because receivable financing is not taught in business colleges, is rarely mentioned in business plans and is fairly unidentified to the majority of most of American company people.

Yet it is a monetary process that releases up billions of dollars every year, enabling thousands of businesses to grow and prosper. Trucking Factoring has actually been around for countless years. Truck Factoring Businesses are investors who pay cash for the right to get the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your client has to pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business deals, a large portion of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail deals. Using the purest meaning of the word, these big customer finance companies are truly simply large Receivable Loan Funding Companies of customer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The shop gets paid practically instantly, even though you do not make payment until you are ready.

For this service, the credit card business charges Sears a fee (typical common normal charges range from two to four percent of the sale). The Benefits Commercial Factoring can offer numerous benefits to cash-hungry companies. Rather than wait 30, 60, 90 days or longer for payment on a product that has already been provided, a company can factor (sell) its receivables for cash at a little price cut off the amount of the invoice. Payroll, marketing efforts, and working capital are simply a few of the company requirements that can be met with instant  cash.

Commercial Factoring provides the ways for a producer to renew inventory and make more items to sell: There is no longer a requirement to await for earlier sales to be paid. Receivable Loan Financing is not simply a cash management device for producers: Practically any type business can take advantage of Accounts Receivable Factoring. Generally, 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 moment about how much is bound in 60 days' worth of invoices: You can not pay the power expense or today s payroll with a client s invoice, however you can sell that invoice for the money to satisfy those responsibilities. Using truck factoring companies is a fast and easy process. The factor purchases the invoice at a discount, usually a couple of percentage points less than the stated value of the invoice.

 

 

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The United states Trucking Organization
states that there around
195,000 truck drivers with transportation
businesses and
300,000 private companies trucking
firms licensed to
operate in America that carried,
according to their most current listings of millions of
items, supplies and
standard products .
There are several usual
carriers either going solo or in
teams on our country
roadways transporting these
vital items to our
shops, factories and ports.

Also trucking factoring
companies service
several of them and offer their
accounts receivablesfinancing services
nationallycounting
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

 

Arlington, the seventh-largest city in Texas and the 50th largest city in the United States/. It is located in Tarrant County, between Dallas and Fort Worth. It was named for Arlington, Va., home of General Robert E. Lee.In 1875, the Texas and Pacific Railroad chose a site for a new station, which opened as Arlington Station in 1876. The surrounding city of Arlington was incorporated in 1884. Arlington College opened in 1895; it would, in 1966, become the University of Texas at Arlington. Arlington is one of the nation's fastest-growing cities, more than doubling in population between 1980 and 2000. Its plant employs 3,000, producing automobiles and parts. The city also produces medical, electronic, and oil-field equipment, plus rubber and plastic products.Arlington is perhaps best known for its recreational and sports attractions. In 1961, the amusement park opened its doors. In 1972, the baseball team moved to their new home at Turnpike Stadium (now Ameriquest Field), becoming the . A new $650 million football stadium for the s was approved by Arlington voters in 2004 and completed in 2009. The stadium seats 80,000, making it the third largest stadium in the . Located just five miles from the Dallas/Fort Worth International Airport, Arlington continues to serve as a transportational hub for the area.Arlington is a city in the U.S. state of Texas, within the Dallas�Fort Worth�Arlington metropolitan area and Tarrant County. According to the U.S. Census Bureau's estimate, the city had a population of almost 374,000 at the end of 2011, making it the third largest municipality in the metropolitan area. Arlington is the fiftieth most populous city in the United States, the seventh most populous city in the state of Texas, and the largest city in the state that is not a county seat. Arlington is the largest city in the United States without a comprehensive public transit system.Located approximately 12 miles (19 km) east of downtown Fort Worth and 20 miles (32 km) west of downtown Dallas, Arlington is home to the University of Texas at Arlington, a doctoral-granting institution, and a General Motors assembly plant. Additionally Arlington hosts the Texas Rangers' Globe Life Park in Arlington, AT&T Stadium, the International Bowling Campus (which houses the United States Bowling Congress, International Bowling Museum and the International Bowling Hall of Fame), . Arlington is the headquarters of the Nuclear Regulatory Commission Region IV.Arlington borders Kennedale, Grand Prairie, Mansfield and Fort Worth, and surrounds the smaller communities of Dalworthington Gardens and Pantego.

 

 

 

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

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

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

 

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

 

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.

 

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

 

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.

 

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.

 

 

"

Rodriguez Truck & Haul have been operating their business since the mid 1980s. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the boom times from 2002 to 2007 Rodriguez Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. Cash was flowing and times were good for all.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed down. And worse yet, Rodriguez 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 Rodriguez, Anthony Young, 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 already been to the administrators to ask what the actual problem was. Were they doing things different, or wrong, when it came to collecting overdue accounts? By his bookkeepers records, this wasn't the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. They could not afford to pay him their debt, but they could afford a lesser service, maybe. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. The had just gone!.To Anthony Young the situation looked desperate. 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. In the evenings he would discuss his concerns with his wife, Laura, and still find no relief from the worry and frustration.

 

""I have a bad feeling, Lin,"" he'd sadly say to his wife.""What could you do differently?"" she would say.Anthony 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 think I know what it could be,"" said Anthony. ""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."" Laura would look at her husband lovingly, and holding his hand would say 'it is such a harsh economy these days and our clients must be having difficulty meeting their responsibilities'.""Anthony knew his wife meant well, but he knew that he was responsible for too many people to sit idly by, waiting for the sun to peak over the clouds.The following day Anthony walked into his office with a spring in his step, determined to call each and every client who owed money to Rodriguez Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Anthony knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. A waste of time - a waste of money - he had the best intentions, but all the while Anthony 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 Nancyerley knocked at his door.

 

""Can I have a word with you Anthony?"" she asked standing in the doorway.

 

""Sure thing Nancy, come on in."" Anthony leaned back in his chair and looked expectantly at Nancyerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Anthony."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard of factoring?"" she asked.""It sounds vaguely familiar. What is it?"" he said.""Well,"" she began, ""It�s actually quite simple really.

 

Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Anthony 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 provides a very broad view.""I see,� Anthony said. �And then what?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

This company tells us what the cost will be to purchase factoring for our accounts receivable. Once we arrive at a mutual agreement, the funding begins.�Anthony was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""I do not know, Nancy - it just sounds too good to be true"", Anthony said quietly.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Anthony: they've guaranteed that experts will do all the paperwork, and that will free us up to do what we should be doing - focusing on our customers in good standing, and that kind of stuff. They appear to be very flexible, Anthony,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" asked Anthony.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. It only takes 2 to 4 days for this to be figured out. ""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" Anthony said.Anthony took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Anthony 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 Rodriguez. Just because they were experiencing difficulties paying their own bills now, Anthony was very concerned about losing these relationships. 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 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.""Well, let me think about this tonight Nancy, thank you."" Nancy stood up and left Anthony's office, with the nice feeling of knowing that she may just have solved a very serious problem.Anthony stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. He wondered if there might be other problems freight factoring could help Rodriguez 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, Rodriguez could receive up to fifty-percent cash advances upon load pick-ups. Anthony 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 Samuel about this,"" muttered Anthony to himself.His son-in-law Samuel had liked the idea of Rodriguez 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. Anthony knew then what struggles Samuel would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Rodriguez was hurting, a little guy like Samuel was about to catch his death. But, an antidote may have been found in freight factoring and Anthony was soon to find out.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Anthony was beginning to find his way out of the hole his debtors 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. Anthony recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

 

 

More Trucking Factoring Companies Story Articles

Factoring in the Future of a Trucking Business: A Story Warren Gardner let the phone ring on his desk. His morning coffee cooled and his cigarette smoked away in the tray: Warren is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Gardner Trucking Company had reached a turning point and he now had to make a decision as to whether he should sign up with a factoring company, and indeed if this would be a good or regrettable decision for his business.

 

Warren�s father had started as an owner-operator and had grown Gardner Trucking Company into a fifteen trailer fleet over forty years. Yes, they had survived some very difficult times when it appeared like they might go under, and even Warren's mother had jumped into the cab at times to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. Now the company was solely in Warren�s hands and he wanted to live to see it in better shape for his sons.

 

There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. He had employees to pay. They all have families and the usual household bills. 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 Gardner Trucking look inefficient and weak in what was currently a strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Warren allowed himself a good hard chuckle. He remembered when his father was totally against installing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� 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.

 

Warren knew he was right in his forward thinking. How would he take Gardner Trucking to the next level? More importantly, how could he afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

He wondered about factoring - was this the answer for him? There was a lot he didn�t understand about the process. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. Without this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Warren had to really consider what his next step was going to be. Warren 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! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. 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. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He didn�t mind signing an exclusive contract. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. Many companies offered a non-recourse factoring program that suited him just fine. He was more than happy with the figures he was offered in percentage terms on the freight bills. It was good money.

 

It was really refreshing dealing with the factoring people. They were more personable than those loan managers at the bank. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies didn�t worry over his credit and the debt troubles his father had had in the past of the company. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Warren 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 Gardner 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.

 

Warren stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. 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 Gardner 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.

 

 

 

 

 

Accountsreceivablecredit.Com

 

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Trucking Factoring  Articles

"

�So It is not a loan?� asked Albert Williams, 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 stated.Albert Williams 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 Leroy. His company was called Wright Trucking, named after both of his grandfathers, Marcus and Derek. They had both been hardworking men, and had done a lot to make Albert the same.Disaster had struck half a year ago, when two trucks in Leroy�s fifteen truck fleet went down. One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. Albert depended on his full fleet, and missing two trucks was devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Albert had on hand.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. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Albert 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.And that's why he found himself across the desk from this woman. Her name was Monica and she worked for a factoring company. He had accidentally come across her company one night when he was working late, searching the internet to see if there was some solution to his financial dilemma.Monica explained. �It�s not a loan, we purchase your accounts receivable. we are not giving you finance to be repaid later: we are purchasing something from you, and when you can you can buy it back. This is a win-win situation: we are protected from a total loss, and you're protected from the ridiculous fees and charges you'd have to pay if you borrowed from a bank.Albert agreed. It sounded good to him, almost too good.The woman laughed. �I'm not sure that you believe me,� she said.�Oh no, I do: it just sounds too good to be true. I thought I was going to lose my company.�Monica 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 why we do what we do.""In any case, thank you for coming to see me.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� Monica said with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.

 

Albert filled the form out, with Monica available to help him if he needed it. The completed profile gave Monica and her company all the information they needed on Leroy'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 businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. As Albert completed his form, Monica listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Monica took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Leroy's hand. He also stood up, and they smiled at each other. Albert walked Monica to the door where they said 'Goodbye', then he went back into his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He shut his eyes. He 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 Monica though, learning about factoring, it felt like a weight had been lifted from his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.All those long, sleepless nights. The terrifying panic attacks that occurred regardless of where he was. Already he could feel all the stress start to drain away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was there, he was on the right path, and he was working to make things right.His mind wandered back to the very beginning, when he first started his business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been really successful. Offering home cooking in his own hometown, his business had really prospered.But he had gotten bored. He wasn't passionate about the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took half a year off, and in that time he thought to start Wright Trucking. So he did it. For the second time in his short life he created a company from the ground up. The business had been an instant success.And then the trucks went down, and his success looked to be in flux. He was nearing fifty. He was concerned that he just did not have the energy left to try and save the business. But giving up wasn't part of his personality either.

 

Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He didn�t know how to say quit.And now, because of factoring, he was sure he wouldn�t have to. Albert opened his eyes, sat forward, turned his computer on. He had lots to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

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More Trucking Factoring Company Story Articles

Why Truck Corporations Work with Factoring Firms.

 

As the manager of your own establishment, you may perhaps be more than wary already of the challenge in making sure that capital issues do not become a difficulty down the line. After all, the most unfortunate thing that can possibly take place for your company is to find yourself dragged in a long and challenging condition that leaves you forever searching for the funds you necessitate on an continuing manner.

 

For virtually any business enterprise in this situation, the trouble can come for waiting for work to clear up and actually be paid out into your bank account. Statements, checks, and the like can take a long time to actually to beprocessed which may leave you with momentary capital troubles. Thank goodness, there are approaches out there for firms to look into-- and among these is factoring agencies.

 

Factoring agencies will, in exchange for your statements, provide you with the cash today to ensure that you do not have to worry about the delaying phase that could make paying the expenses and obtaining toolsmore troublesome. With this kind of setup, invoice factoring can become tremendously helpful for lots of companies who have to get out of a cash lure which they have gotten themselves in.

 

Since, depending on the scale of the work, it can take up to 60 days for some business enterprises to get compensated then it is very important to blanket your own back and not leave yourself funds short to settle the monthly bills. After all, how many companies possess two months income just occupying there to cover all their costs till they make money?

 

This is most especially true of truck firms. They often manage bunches of accounts which means a notable amount of collection period involves business owner themselves. Making an effort to get paid promptly can turn into an unbelievable struggle and this is why you make use of truck factoring firms who are glad to help out truckers specifically.

 

As all of us realize, trucking is an extremely large business with a lot of organizations out there employing hundreds of vehicle drivers. However, several of these drivers end up in money difficulties given that they are still awaiting work from six weeks previously to actually compensate them. When this is the case for a truck business, depending on factoring firms for support maybe the most effective option left.

 

This means that a trucking business can pay the wages of the work force, keep all the trucks loaded with gas and continue to escalate, evolve and expand without constantly waiting for the money which is taking too long to come in. Trucking Business enterprises running without a factoring system put in place are leaving themselves at considerable danger, as contenders cash out fast and carry on to grow.

 

There's honestly very little to be troubled about when it comes to employing a Factoring establishment-- they typically are not like a bank or an individual who is going to leave you with a large stockpile of financial debt to pay back. You give them authentic invoices from work you have already finished , you are only facilitating the payment system.

 

In the Usa, where trucking agencies thrive, factoring enterprises are not considered getting a loan in any capacity. This private settlement then makes it possible for both groups to benefit and experience a good future-- it provides the factoring provider a secured asset of cash flow to put into the list and it offers the trucking firm the needed finances that they sweated to earn.

 

The trucking establishment presents their statements to the factoring establishment. The trucking factoring business then acquire the installment payments from the trucking company's customers. Factoring has beenaround for hundreds of years and has been used for several years by a lot of various business sectors-- but none exceeding so than truckers. While you may miss out on a small part of the money, something like 1-3 % depending on who you work with, it means that you are obtaining the finances today and can actually start off setting the funds to operate.

 

After all, an IOU or an invoice is not going to fund spendings, is it? For trucking establishments when the funds can be really good one day and gone the next, it is up to the drivers to work prudently and to make certain they are leaving themselves with a substantial amount of time and finance to get through the week till they are paid for again.

 

So the next occasion your trucking company is enduring some temporary cash flow issues and you are shelling out excessive time chasing slow paying customers, why not start off looking into making use of a factoring businesses as a means to get your money and give yourself a more worry-free future in the eyes of your trucking team and your bank difference?

 

 

 

 

 

 

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Traditional 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. 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. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies do not 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. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

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

 

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

 

1. There is no debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. 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. 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. 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.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 not only are you relieved of those monthly loan payments, but you also do not have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The 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 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.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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