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Get Rid of Those Receivables! - Our Invoice Factoring Company Can Provide
Your Truck Company The Cash You Want

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Factoring invoices is helpful for a number of reasons. It allows a truck company to raise money without getting new financial obligation. While financial obligation is sometimes required, most freight broker firm would prefer to raise cash without borrowing money. Debt is dangerous, and when it can not be paid back, properties can be repossessed. If the financial obligation is huge enough, it might even require a truck businesses out of business.

 

 

 

 

 

 

 

Cash Flow Satisfaction- or Else! - Select The Best Factoring Company Instead Of A Typical Bank Financing

How to Increase Cash Flow Without Borrowing -Cash Money flow is among the primary reasons companies fail.

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

Money flow does not have to be an issue any ever more. Do not be deceived -- banks are not the only places you can get funding. Other options are offered and you do not have to borrow money. What is truck factoring ? One option is called truck factoring. Trucking Factoring is the procedure of offering accounts receivable to an investor instead of waiting to collect the money from the customer. Oh, the Irony- Truck factoring has a paradoxical difference: It is the financial foundation of numerous of America's most successful businesses. Why is this paradoxical ? Since staffing factoring is not instructed in business colleges, is rarely discussed in company strategies and is relatively unknown to the majority of most of American company individuals.

Yet it is a monetary process that releases up billions of dollars every year, enabling thousands of companies to grow and prosper. Receivable Loan Funding has actually been around for countless years. Receivable Loan Financing Companies 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 debt your customer has actually agreed pay in the near future. Factoring Principals--Although factoring offers solely with business-to-business transactions, a big percentage of the retail business uses a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail transactions. Utilizing the purest definition of the word, these large customer finance business are truly simply big Receivable Funding Companies of customer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The store makes money practically immediately, even though you do not pay up until you are prepared.

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

Staffing Factoring offers the ways for a producer to replenish stock and make even more items to offer: There is no longer a need to await for earlier sales to be paid. Receivable Loan Financing is not simply a money management tool for manufacturers: Practically any kind company can take advantage of Truck Factoring. Generally, a company that extends credit will have 10 to 20 percent of its yearly sales bound in invoices at any given time. Think for a moment about exactly how much is bound in 60 days' worth of invoices: You can not pay the power bill or today s payroll with a client s invoice, however you can sell that invoice for the money to meet those obligations. Using trucking factoring companies is a fast and easy process. The factoring company purchases the invoice at a discount, typically a couple of portion points less than the stated value of the invoice.

 

 

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The American Trucking Organization
states that there are about
195,000 employees with transportation
businesses and
300,000 private companies trucking
firms licensed to
run in America that carried,
according to their newest searchings for billions of
items, supplies and
standard products .
There are a number of common
providers either going solo or in
teams on our country
roads transporting these
important products to our
stores, factories and ports.

And freight invoice factoring
businesses aid
countless of them and offer their
accounts receivablesfinancing facilities
countrywidecounting
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

 

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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:

United States Trucking Companies

Click below to find Trucking Companies in the United States:

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

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

Searching for the right trucking companies to move your freight can be tough, with the large amount of local, regional, and national truck carriers out there. FreightCenter helps make freight shipping simple, finding you the safest, reliable trucking companies every time you ship. Our 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

 

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. FreightCenter helps make freight shipping simple, finding you the safest, reliable trucking companies every time you ship. Our 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

 

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. FreightCenter helps make freight shipping simple, finding you the safest, reliable trucking companies every time you ship. Our 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

 

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. FreightCenter helps make freight shipping simple, finding you the safest, reliable trucking companies every time you ship. Our 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

 

 

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Morris Truck & Haul have been operating their 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 boom times from 2002 to 2007 Morris 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. Times were great for everyone, and the cash was flowing.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, Morris 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, Jack Woods, CEO of Morris felt a chill go down his spine whenever he would look at the weekly A/R reports. The number of clients who were late in their payments was continuing to grow.He had already been to the administrators to ask what the actual problem was. Were they doing things different, or wrong, when it came to collecting overdue accounts? By his bookkeepers records, this wasn't the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Morris money had jumped ship and decided to leave him holding the bag.

 

. They couldn't 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 Morris hadn't gone elsewhere. The had just gone!.The situation looked dire to Jack Woods. Jack was very concerned, because there were constant overheads, goods to ship, employees to pay, and trucks which needed to be maintained, but there just wasn't the money coming back into the business. In the evenings he would discuss his concerns with his wife, Heather, and still find no relief from the worry and frustration.

 

""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""What could you do differently?"" she would say.Jack would stare off for a moment and then close 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. Why couldn�t he work out how to resolve this financial problem with his business?""I think I know what it could be,"" Jack said. ""I've relied too long on the profits I receive from invoices alone. For too long I've been allowing our clients to let their accounts become overdue."" Linda could only grab her husband's hand and look at him lovingly, ""It's a hard economy. It might be awhile until things get settled up.

 

""Heather was trying so hard to support her husband in these worrying times, while Jack was weighed down with the worry of how he was going to handle this situation he found himself in.The next day Jack strolled into his office and was determined to sit down and make every phone call to every client who had owed Morris money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Jack 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, Jack knew that he was in trouble.

 

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

 

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

 

""Sure thing Kristen, come on in."" Jack relaxed back into his chair and looked up at Kristenerley.""Well Jack, this afternoon I did some research, trying to work out how we're going to get out of this mess."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard the word factoring?"" Kristenerley asked.""It does sound vaguely familiar. What is it?"" he said.""Well,"" she began, ""It�s actually quite simple really.

 

So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""""Immediately?"" Jack interrupted.""Yes, immediately,"" she continued, ""It's actually very simple. We can have an expert account manager review our numbers and help us complete 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�s a broad view.��I see,� Jack said. �And then what?��Following the completion of their review and once we've been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. 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. The funding commences once we�ve arrived at an agreement.�Leaning forward, Jack studied the documents very closely.""I don't know, Kristen - it just sounds too good to be true"", Jack 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 Jack,"" she underlined a paragraph on the paper before him.""Just how flexible?"" asked Jack.""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. 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's imperative that we keep the business rolling as usual, and every day we go unpaid we're getting closer and closer to dealing with some serious issues in both the short term and the long term,"" said Jack.Jack took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. I think this might just be a way out of the trouble we're in with these folks who owe us money.""Jack thought about this and agreed with Kristenerley. The customers who were in debt to Morris Truck & Haul were professional resources of the company, but they were also long-standing friends. Just because they were experiencing difficulties paying their own bills now, Jack was very concerned about losing these relationships. Jack knew only too well that the whole economy was floundering, and that it was not going to change overnight. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. He didn't want to lose business but he also didn't want to lose any more money.""Well, let me think about this tonight Kristen, thank you."" Kristen nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Jack keep the shirt on his back, and possibly hers too.Jack sat behind his desk and looked over the details Kristen had not mentioned in their meeting. What other issues could freight factoring help Morris 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. Jack was surprised: it said that his company could get up to fifty percent cash advances on load pickups. 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 Bryan about this,"" muttered Jack to himself.Bryan is Jack's son-in-law, and he really admired the ideas behind Morris, so much so that only two years before he had started his own transportation service business. Jack knew then what struggles Bryan would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Morris was hurting, a little guy like Bryan was about to catch his death. Perhaps the antidote to these problems was in freight factoring, and they were about to find out.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Jack found himself beginning to dig his way out of the hole his delinquent account holders had created for him.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They took that time and refocused effort to offering competitive prices in new territories. Jack looked back on the dismal months of life before freight factoring and almost shuddered at the thought. He probably wouldn't be in business today had he not learned just in time about freight factoring.

 

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In its beginnings, Dallas relied on farming, neighboring Fort Worth's Stockyards, and its prime location on Native American trade routes to sustain itself. Dallas' key to growth came in 1873 with the building of multiple rail lines through the city. As Dallas grew and technology developed, cotton became its boon and by 1900 Dallas was the largest inland cotton market in the world, becoming a leader in cotton gin machinery manufacturing. By the early 1900s Dallas was a hub for economic activity all over the Southern United States and was selected in 1914 as the seat of the Eleventh Federal Reserve District. By 1925 Texas churned out more than ? of the nation's cotton crop, with 31% of Texas cotton produced within a 100-mile (160 km) radius of Dallas. In the 1930s petroleum was discovered east of Dallas near Kilgore, Texas. Dallas' proximity to the discovery put it immediately at the center of the nation's petroleum market. Petroleum discoveries in the Permian Basin, the Panhandle, the Gulf Coast, and Oklahoma in the following years further solidified Dallas' position as the hub of the market.[67]The end of World War II left Dallas seeded with a nexus of communications, engineering, and production talent by companies such as Collins Radio Corporation. Decades later, the telecommunications and information revolutions still drive a large portion of the local economy. The city is sometimes referred to as the heart of ""Silicon Prairie"" because of a high concentration of telecommunications companies in the region, the epicenter of which lies along the Telecom Corridor located in Richardson, a northern suburb of Dallas. The Corridor is home to more than 5,700 companies[68] including Texas Instruments (headquartered in Dallas), Nortel Networks, Alcatel Lucent, AT&T, Ericsson, Fujitsu, Nokia, Rockwell Collins, Cisco Systems, Sprint, Verizon Communications, XO Communications and until recently[when?] CompUSA (which is now headquartered in Miami,FL).In the 1980s Dallas was a real estate hotbed, with the increasing metropolitan population bringing with it a demand for new housing and office space. Several of Downtown Dallas' largest buildings are the fruit of this boom, but over-speculation and the savings and loan crisis prevented any further additions to Dallas' skyline. Between the late 1980s and the early 2000s, central Dallas went through a slow period of growth and has only recently recovered. Since 2000, the real estate market in the Dallas�Fort Worth metroplex has been relatively resilient. However, Dallas is among the largest cities in the U.S. where rent declined significantly. Whereas the national decline in rent is approximately 4%, Dallas rent declined an average of 8% in early 2010.[69]Texas Instruments, a major manufacturer, employs 10,400 people at its corporate headquarters and chip plants in Dallas. Defense and aircraft manufacturing dominates the economy of nearby Fort Worth.[70][71]The Dallas-Fort Worth Metroplex has one of the largest concentrations of corporate headquarters for publicly traded companies in the United States. The city of Dallas has 12 Fortune 500 companies,[12] and the DFW region as a whole has 20.[72] In 2007�08, Comerica Bank and AT&T located their headquarters in Dallas. Irving is home to four Fortune 500 companies of its own, including ExxonMobil, the most profitable company in the world and the second largest by revenue for 2008,[73] Kimberly-Clark, Fluor (engineering), and Commercial Metals.[74] Additional companies headquartered in the Metroplex include Southwest Airlines, American Airlines, RadioShack, Neiman Marcus, 7-Eleven, Brinker International, AMS Pictures, id Software, ENSCO Offshore Drilling, Mary Kay Cosmetics, Chuck E. Cheese's, Zales and Fossil. Corporate headquarters in the northern suburb of Plano include HP Enterprise Services, Frito Lay, Dr Pepper Snapple Group, and JCPenney. Many of these companies�and others throughout the DFW metroplex�comprise the Dallas Regional Chamber.Susan G. Komen for the Cure, the world's largest breast cancer organization[75] was founded and is headquartered in Dallas.In addition to its large number of businesses, Dallas has more shopping centers per capita than any other city in the United States and is also home to the second shopping center ever built in the United States, Highland Park Village, which opened in 1931.[76] Dallas is home of the two other major malls in North Texas, the Dallas Galleria and NorthPark Center, which is the 2nd largest mall in Texas. Both malls feature high-end stores and are major tourist draws for the region.[citation needed]According to Forbes magazine's annual list of ""The Richest People in America"" published September 21, 2011, the city itself is now home to 17 billionaires, up from 14 in 2009. In 2009 (with 14 billionaires) the city placed 6th worldwide among cities with the most billionaires.[77][78] The ranking does not even take into account the 8 billionaires who live in the neighboring city of Fort Worth. In 2013, Forbes also ranked Dallas No. 13 on its list of the Best Places for Business and Careers.[79]Dallas is currently the third most popular destination for business travel in the United States, and the Dallas Convention Center is one of the largest and busiest convention centers in the country, at over 1,000,000 square feet (93,000 m2), and the world's single-largest column-free exhibit hall

 

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More Trucking Factoring Companies Story Articles

The Future of a Trucking Company, and Factoring Jessie Lynch let the phone ring on his desk. 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. Lynch Trucking Company had reached a turning point and he now had to make a decision as to whether he should sign up with a factoring company, and indeed if this would be a good or regrettable decision for his business.

 

More than forty years ago Jessie's father had started this business working as an owner-operator and eventually growing Lynch Trucking Company into a fifteen trailer fleet. There had been some hard times when it seemed everything was going to go under and even Jessie�s mother strapped herself into a cab to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. But now things were different: the company was in Jessie's hands and he needed to ensure that this business would be left in great shape for his sons.

 

To move Lynch Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. His employees needed to be paid. They all have families and the usual household bills. 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. Every time he had to turn down a request, Lynch Trucking looked weak in a very strong market.

 

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

 

Jessie believed a successful man is always thinking of his next step. What would be the next step for Lynch Trucking? More importantly, how could he afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

But was factoring the answer? There was a lot he didn�t understand about the process. 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. During those thirty days the trucking company can't pay its employees and bills with invoices.

 

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

 

However, it all turned out to be very simple. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. 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. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the 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 sounded like a great scheme to him.

 

For Jessie it was quite a relief to be dealing with the factoring company. They were extremely helpful and more personable than the bank staff. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar for a handout. The factoring companies 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 Jessie 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 have any problems, nor would they think poorly of Lynch Trucking, because the factoring companies handle themselves in such a polite and professional manner, similar to the way his father had managed the business in the past.

 

Jessie stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. With the capabilities of this new cash flow, Jessie could actually expand Lynch Trucking Company further across the country and perhaps even go international into Canada. His heart felt full knowing his sons wouldn�t have to worry about money because of the right decisions he had made for their trucking business.

 

 

 

 

 

Factoring Accounts Recievable

 

Factoring Accounts Recievable

 

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Trucking Factoring  Articles

�So, this is not a loan?� Howard Nelson asked as he leaned back in his chair, crossing his legs. The woman who sat across the desk smiled and shook her head.�No, not exactly,� she said.Howard was the owner of a small trucking company which had fallen on some hard times recently. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Theodore. His company was called Butler Trucking, named after both of his grandfathers, Eddie and Brad. They had both been hardworking men, and had done a lot to make Howard the same.Disaster had struck half a year ago, when two trucks in Theodore�s fifteen truck fleet went down. One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. The financial security of Theodore's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Howard had on hand.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.Howard was an excellent business man, and he certainly hadn't done anything wrong. Things had happened that he couldn't have predicted, and he had to figure out a way to keep his business from hurting, or even going under.And that's why he found himself across the desk from this woman. Howard knew she was employed by a Factoring company and that her name was Kristina. Howard 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�s not a loan, we purchase 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. This is a win-win situation: we're 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.Howard nodded. It sounded perfect - perhaps too good?.The woman laughed. �You look like you don�t believe me,� she said.�No, I do, I just think it sounds a bit too good to be true. I actually thought I might end up losing my business.�Kristina nodded. �Yes, we get a lot of that. There's no way we want to see you lose your business. You work hard, you�ve put everything you can into it. Sometimes you need help. 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,� said Kristina with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.

 

Howard completed the form, with Kristina offering advice as needed.

 

The profile filled Kristina and her company in on Theodore�s company, and would help them determine if he was suitable for factoring. Unfortunately, not all companies are. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. As Howard completed his form, Kristina listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Kristina took it and slid it into her briefcase. Standing up, she reached over the desk and shook Theodore's hand. He also stood up, and they smiled at each other. They said their goodbyes and Howard walked her to the door, and then returned to 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 leaned back and closed his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. But now, after speaking to Kristina 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. 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. At twenty-two and straight out of school he had opened a restaurant. It had been successful. Offering home cooking in his own hometown, his business had really prospered.But it wasn't what he really wanted to do. 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 Butler Trucking. So he did it. Once again he built a company from the ground up. He had been successful.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was about to turn fifty. He didn�t think he had it in him, to save this company. But giving up wasn't part of his personality either.

 

The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He didn�t know how to say quit.And now, because of factoring, he was sure he wouldn�t have to. Theodore's eyes opened, he sat forward in his chair and turned on his computer. He had things to do. He could be thankful later, for now, it was time to work.

 

 

 

 

More Trucking Factoring Company Story Articles

The reason why Truck Firms Utilize Factoring Companies.

 

As the operator of your own firm, you may perhaps be more than mindful already of the hardship in making certain that capital concerns do not become a difficulty down the line. After all, the toughest thing that can possibly take place for your company is to find yourself swept up in a long and perplexing situation that leaves you forever trying to find the resources you necessitate on an continual basis.

 

For any type of enterprise in this situation, the issue can come for waiting for work to clear up and actually be provided into your account. Bill of sales, checks, and the like can take some time to actually to beprocessed which could leave you with momentary capital troubles. Thankfully, there are solutions out there for businesses to look into-- and one of these is factoring agencies.

 

Factoring firms will, in substitution for your accounts, grant you with the funds right away to ensure that you don't need to stress over the lingering time span that could make paying off the expenses and acquiring toolsmore hard. With this kind of arrangement, invoice factoring can come to be incredibly useful for countless enterprises who have to avoid a cash pitfall which they have discovered themselves in.

 

For the reason that, depending upon the size of the job, it can take up to 60 days for some firms to get compensated then it's very important to cover your own back and definitely not leave yourself funds short to pay the costs. After all, how many establishments possess two months revenue just lying there to address all their costs until they earn?

 

This is particularly correct of trucking agencies. They often deal with tons of statements which means a huge volume of collection time involves company owner themselves. Striving to get compensated in time can turn into an unbelievable headache and this is the key reasons why you employ truck factoring organizations who are glad to help out truckers particularly.

 

As we all recognize, trucking is an exceptionally massive market with many companies out there employing hundreds of drivers. Unfortunately, numerous of these drivers land up in finances difficulties simply because they are still expecting work from six weeks earlier to actually pay them. When this is the case for a truck agency, depending on factoring providers for reinforcement maybe the best choice left.

 

This means that a trucking business can pay out the paychecks of the staff, keep all the trucks loaded with fuel and continue to go up, develop and expand without constantly waiting for the funds which is taking too prolonged to come in. Trucking Companies working without a factoring program implemented are leaving themselves at substantial risk, as contenders cash out promptly and proceed to expand.

 

There's absolutely not much to be troubled about when it comes to employing a Factoring contractor-- they commonly are not like a banking company or somebody who is going to leave you with a huge mass of personal debt to pay back. You give them legitimate invoices from output you have already completed , you are merely quickening the repayment system.

 

In the United states of America, where truck companies survive, factoring firms are not considered getting a loan in any capacity. This confidential arrangement then lets both parties to make money and indulge in a comfortable future-- it gives the factoring provider a warranted asset of revenue to put into the list and it provides the trucking firm the required money that they sweated to get.

 

The trucking business presents their invoices to the factoring business. The trucking factoring agency then acquire the payments from the trucking company's customers. Factoring has been all around for centuries and has been used for several years by several various markets-- but none more so than truckers. While you might possibly miss out on a small part of the money, something like 1-3 % depending upon who you work with, it means that you are acquiring the funds today and can actually begin setting the resources to work.

 

Once and for all, an IOU or an invoice is not going to cover overheads, is it? For trucking agencies when the funds can be excellent one day and gone the next, it's up to the drivers to work smartly and to guarantee they are leaving themselves with a notable volume of time and finance to get through the week till they are handed over once again.

 

So the next moment your trucking establishment is enduring some momentary cash flow dilemmas and you are putting in too much time chasing slow paying customers, why not start off looking into employing a factoring businesses as a means to get your finances and give yourself a more convenient future in the eyes of your trucking workers 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. While these loans are handy they are not available to every business. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Once the loan is paid off, you can then apply for another loan if the need arises.

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. 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 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. You Won't Incur Debt. Since the Trucking Factoring company actually buys your accounts receivable you don't 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 won't be affected. Should the unforeseeable happen and your business fails, you won't have to worry about anyone coming after your personal as well as your business assets to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. No Collateral Required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you aren't required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This means that it's 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. 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. 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. With a bank loan interest continues to build, and this has to be paid the whole time you have a business loan; however with a Trucking Factoring company there is no interest - they take it right off the top by deducting it from the total amount of receivable accounts. So you don't have to worry about monthly loan repayments, and you don't have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very 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.While a Trucking Factoring company is not the only way for your business to obtain the money it needs to keep growing, it does offer a type of financing well worth considering.

 

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