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How Much is Your Cash Flow "Tension" Costing Your Company - Our Freight Factoring Companies Can Provide
Your Trucking Company The Cash You Need

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trucking and factoring

Factoring invoices is helpful for numerous factors. It enables a truck company to raise cash without getting new financial obligation. While financial obligation is in some cases essential, most truck companies would prefer to raise money without obtaining cash. Debt is high-risk, and when it cannot be repaid, assets can be repossessed. If the financial obligation is huge enough, it might even force a freight brokerage out of business.

 

 

 

 

 

 

 

To Companies Who Want To Write - but Can't Get Started - Select An Accounts Receivable Factoring Company Instead Of A Regular Bank Financing

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

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

Cash flow does not have to be a problem any more. Do not be deceived -- banks are not the only places you can get funding. Other options are available and you do not have to borrow money. Exactly what is truck factoring ? One solution is called trucking factoring. Truck Factoring is the process of selling invoices to an investor instead of waiting to gather the money from the customer. Oh, the Irony- Trucking factoring has a paradoxical difference: It is the financial backbone of many of America's most successful companies. Why is this ironic ? Because accounts receivable factoring is not instructed in business colleges, is rarely mentioned in company strategies and is relatively unidentified to the majority of most of American business people.

Yet it is a financial procedure that releases up billions of dollars every year, enabling thousands of companies to grow and prosper. FACTORING has actually been around for countless years. Receivable Loan Funding Companies are financiers 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 client has actually agreed pay in the near future. Factoring Principals--Although factoring offers solely with business-to-business deals, a big portion of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a type of factoring in their retail transactions. Utilizing the purest meaning of the word, these large consumer finance business are really just big Factoring Companies of customer paper. Consider it: You make a purchase at Sears and charge it to your MasterCard. The shop makes money almost instantly, even though you do not make payment up until you are prepared.

For this service, the charge card company charges Sears a fee (typical common normal fees vary from 2 to 4 percent of the sale). The Advantages Staffing Factoring can provide numerous benefits to cash-hungry companies. Instead of waiting 30, 60, 90 days or longer for payment on a product that has currently been provided, a business can factor (sell) its receivables for cash at a small discount off the amount of the invoice. Payroll, marketing efforts, and working capital are just a few of the business needs that can be met with instant  cash.

Truck Factoring offers the ways for a manufacturer to replenish inventory and make more items to offer: There is no longer a need to wait for earlier sales to be paid. FACTORING is not just a money management tool for producers: Practically any type company can benefit from 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 how much is bound in 60 days' worth of invoices: You can not pay the power bill or this week s payroll with a client s invoice, however you can sell that invoice for the cash to meet those obligations. Using truck factoring companies is a quick and simple procedure. The factoring company purchases the invoice at a discount, usually a couple of portion points less than the stated value of the invoice.

 

 

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The United states Trucking Association
mentions that there around
205,000 work with truck
businesses and
250,000 private providers trucking
companies accredited to
operate in America that transported,
according to their most current listings of millions of
items, supplies and
basic materials .
There are several usual
providers either going solo or in
groups on our nation
roads carrying these
crucial products to our
stores, manufacturing facilities and harbors.

Furthermore freight bill factoring
companies help
many of them and offer their
factoring facilities
nationallyincluding
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

 

"

Garland is a city in the U.S. state of Texas. It is a large city northeast of Dallas and is a part of the Dallas�Fort Worth metroplex. It is located almost entirely within Dallas County, except a small portion located in Collin County. As of the 2010 census, the city had a population of 226,876, making it the eighty-seventh most populous city in the United States of America and the twelfth most populous city in the state of Texas.In 2008, Garland was ranked #67 on CNN and Money magazine's list of the ""Top 100 Places to Live""In the late 1930s the food company, which manufactured pickles, moved to town. In 1937 the KRLD (Dallas) radio tower was constructed in Garland. During World War II several aircraft plants operated in the Garland area. After the war Foods bought the Continental Motors Plant to retool for its manufacture. The Foods plant still operates to this day. As a station on two railroads, Garland was a major onion-shipping point in the 1940s. Istol Hats in Garland is a notable manufacturer of premium hats, many of which have been worn by or given to notable figures around the world. The company has long been an important part of Garland's manufacturing base.The company was founded by E.R. Byer and Harry Rolnick, who established Byer-Rolnick in Dallas in 1927. At the time, the company produced men's felt hats. The company used the name ""Hats"" to indicate that the hats could ""resist-all"" weather conditions. Some accounts contend the name was given because the headbands in the company's hats were more resistant to scalp oil.The growing firm needed to expand. In 1938, it moved to a larger facility in Garland, where continue to be manufactured today. For decades, residents surrounding the hat factory could set their clocks to its whistle.In the early 1980s Garland had one of the lowest poverty rates of cities in the country. In 1990 it had a population of 180,650 and 2,227 businesses, making it Dallas County's second largest city and the tenth largest in the state. Garland had a variety of industries, including electronics, steel fabrication, oilfield equipment, aluminum die casting, hat manufacture, dairy products, and food processors.

 

"

 

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

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

 

Click below to find Trucking Companies in the United States:

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

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

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

 

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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

 

 

"

Kelley Truck and Haul has been in 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 heady times from 2002 to 2007, Kelley was a top rated accounts receivable mastermind of the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. Times were great for everyone, and the cash was flowing.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed down. And worse yet, Kelley 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 Kelley, Tyler Owens, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. There was a growing list of clients who now owed them back debt.He had already been to the administrators to ask what the actual problem was. Were they doing something wrong or different when it came to reaching out to delinquent 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 Kelley money had jumped ship and decided to leave him holding the bag.

 

. They could not afford to pay him their debt, but they could afford a lesser service, maybe. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Kelley hadn't gone elsewhere. The had just gone!.To Tyler Owens the situation looked desperate. Tyler 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. After work he would confide in his wife, Elsie, and neither were unable to stop the constant worry over the lack of funds.""I have a bad feeling, Lin,"" he would say with deep woe.""What could you do differently?"" she would ask.Tyler would stare off for a moment and then close eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them on the road, delivering good to all his loyal customers. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. What on earth was happening to create the death of his business?""I know what it is,"" said Tyler. ""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 is a hard economy. It might be awhile until things get settled up.

 

""Tyler knew his wife meant well, but he knew that he was responsible for too many people to sit idly by, waiting for the sun to peak over the clouds.The next day Tyler strolled into his office and was determined to sit down and make every phone call to every client who had owed Kelley money. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. A waste of time - a waste of money - he had the best intentions, but all the while Tyler 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 Saraerley knocked at his door.

 

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

 

""Of course Sara, please come in."" Tyler leaned back in his chair and looked expectantly at Saraerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Tyler."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard of factoring?"" Saraerley asked.""It does sound vaguely familiar. What is factoring""? he asked.""Well,"" she began, ""It�s actually quite simple really.

 

Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Tyler interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""In a nutshell, it is pretty easy. 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. 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,� Tyler said. �And then what?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

The company will advise us the cost to purchase factoring for our company's accounts receivable. The funding commences once we�ve arrived at an agreement.�Tyler was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Sara,"" he said.""Now, now, I know, I thought the same thing. But think about it, Tyler: 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, Tyler,"" she underlined a paragraph on the paper before him.""Just how flexible?"" asked Tyler.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. Apparently they can figure this all out in two to four days.

 

""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. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" said Tyler.He took a deep breath and looked at his secretary with something she recognized as hope.""Precisely�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Tyler thought about this and agreed with Saraerley. The customers who were in debt to Kelley Truck & Haul were professional resources of the company, but they were also long-standing friends. They did not want to throw away these relationships because they were having trouble paying their bills now. Tyler knew only too well that the whole economy was floundering, and that it was not going to change overnight. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. Of course he did not want to lose any more money, but he did not want to lose business either.""Well, let me think about this tonight Sara, thank you."" Sara nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Tyler keep the shirt on his back, and possibly hers too.Tyler stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. What other issues could freight factoring help Kelley 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, Kelley could receive up to fifty-percent cash advances upon load pick-ups. Tyler 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 Edwin about this,"" muttered Tyler to himself.Tyler's son-in-law, Edwin, loved the idea behind Kelley and highly respected his father-in-law for having such great business sense, that two years ago he got his capital together and started his own transportation company. Tyler knew then what struggles Edwin would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Kelley was hurting, a little guy like Edwin was about to catch his death. But, an antidote may have been found in freight factoring and Tyler was soon to find out.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Tyler found himself beginning to dig his way out of the hole his delinquent account holders had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They took that time and refocused effort to offering competitive prices in new territories. Tyler recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. If Tyler hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

"

Garland is a city in the U.S. state of Texas. It is a large city northeast of Dallas and is a part of the Dallas�Fort Worth metroplex. It is located almost entirely within Dallas County, except a small portion located in Collin County. As of the 2010 census, the city had a population of 226,876, making it the eighty-seventh most populous city in the United States of America and the twelfth most populous city in the state of Texas.In 2008, Garland was ranked #67 on CNN and Money magazine's list of the ""Top 100 Places to Live""In the late 1930s the food company, which manufactured pickles, moved to town. In 1937 the KRLD (Dallas) radio tower was constructed in Garland. During World War II several aircraft plants operated in the Garland area. After the war Foods bought the Continental Motors Plant to retool for its manufacture. The Foods plant still operates to this day. As a station on two railroads, Garland was a major onion-shipping point in the 1940s. Istol Hats in Garland is a notable manufacturer of premium hats, many of which have been worn by or given to notable figures around the world. The company has long been an important part of Garland's manufacturing base.The company was founded by E.R. Byer and Harry Rolnick, who established Byer-Rolnick in Dallas in 1927. At the time, the company produced men's felt hats. The company used the name ""Hats"" to indicate that the hats could ""resist-all"" weather conditions. Some accounts contend the name was given because the headbands in the company's hats were more resistant to scalp oil.The growing firm needed to expand. In 1938, it moved to a larger facility in Garland, where continue to be manufactured today. For decades, residents surrounding the hat factory could set their clocks to its whistle.In the early 1980s Garland had one of the lowest poverty rates of cities in the country. In 1990 it had a population of 180,650 and 2,227 businesses, making it Dallas County's second largest city and the tenth largest in the state. Garland had a variety of industries, including electronics, steel fabrication, oilfield equipment, aluminum die casting, hat manufacture, dairy products, and food processors.

 

"

 

More Trucking Factoring Companies Story Articles

The Future of a Trucking Company, and Factoring The phone was ringing on his desk, and Derrick Snyder just sat there letting it ring. His morning coffee cooled and his cigarette smoked away in the tray: Derrick is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Snyder 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.

 

Derrick�s father had started as an owner-operator and had grown Snyder Trucking Company into a fifteen trailer fleet over forty years. There had been some hard times when it seemed everything was going to go under and even Derrick�s mother strapped herself into a cab to make hauls. His father had worked long enough to see the price of hires drop dramatically during the recession and to see the explosion of fuel prices afterwards. But now things were different: the company was in Derrick's hands and he needed to ensure that this business would be left in great shape for his sons.

 

To move Snyder Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. His employees needed to be paid. They had families and household bills too. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. He knew that turning down these requests made Snyder Trucking look inefficient and weak in what was currently a strong market.

 

His father would have told him to wait and to take his time adding on new technology. Derrick 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). 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.

 

Derrick knew he was right in his forward thinking. What would be the next step for Snyder Trucking? 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. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

He wondered about factoring - was this the answer for him? If he was being honest, he did not really understand how it all worked. It sounded 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 the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Now it was time for Derrick to do his homework. Derrick had heard that there were companies that charged for same day money transfers and would only advance a percentage of the money owed to your company while holding the rest in a private account if they didn�t get their bill payment within 60 or so days. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! 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 was quite happy to sign an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It sounded like a great scheme to him.

 

It was really refreshing dealing with the factoring people. 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 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 Derrick because he and his father had created a very strong and loyal list of clientele over the years. So he knew they would understand when the factoring company contacted them for the invoices. His clients wouldn�t think poorly of Snyder Trucking and the factoring companies appeared capable of handling the accounts receivable in the same polite manner that his father had used over the years.

 

Feeling happier now, Derrick stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. He suddenly realized that, with this new cash flow, he could actually expand Snyder Trucking Company and who knows, move into Canada, which had always been his dream. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

 

 

 

 

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Trucking Factoring  Articles

"

�So, this is not a loan?� Nathaniel Ross asked as he leaned back in his chair, crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she stated.Nathaniel was the owner of a small trucking company which had fallen on some hard times recently. Trucking could be a profitable business, and for a little under a decade, it had been for Marcus. He named his business Hunter Trucking, named after Claude and Richard, his two grandfathers. Both of these men had been very hardworking and had set a great example for Marcus.Disaster had struck half a year ago, when two trucks in Marcus�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. Nathaniel 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 Nathaniel had on hand.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

You could go a month or more before bills were completely paid off. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Nathaniel 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. Nathaniel knew she was employed by a Factoring company and that her name was Louise. 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.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 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.Nathaniel nodded. It sounded good to him, almost too good.Louise laughed. �I'm not sure that you 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.�Louise nodded. �We get that a lot. Listen, I�d hate to see you lose your company. We know how hard you work, and that you've invested everything in your business. Sometimes you need help. That�s what we�re here for.""Well, I'm very grateful that you came to see me today.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� Louise said with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Nathaniel filled the form out, with Louise available to help him if he needed it. The completed profile gave Louise and her company all the information they needed on Marcus'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. Listening as Nathaniel filled out his form, Louise was pretty sure he was a perfect candidate for factoring.Louise took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Marcus's hand. He also stood up, and they smiled at each other. Nathaniel walked Louise to the door where they said 'Goodbye', then he went back into his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He shut his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. But now, after speaking to Louise and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.The long nights, where he couldn�t sleep. The terrifying panic attacks that occurred regardless of where he was. He could feel it all fading away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.His mind wandered back to the very beginning, when he first started his business. 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 he had gotten bored. His passion didn�t lie with 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 Hunter Trucking. And that's exactly what he did. Once again he built a company from the ground up. He had been successful.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was about to turn fifty. He was concerned that he just did not have the energy left to try and save the business. But 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 did not want to quit - both for himself and for his staff members.And now it seemed as though he would not have to - all because of Factoring. Marcus's eyes opened, he sat forward in his chair and turned on his computer. He had lots to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

The key reasons why Trucking Companies Employ Factoring Companies.

 

As the owner of your own company, you may likely be more than mindful already of the challenge in making certain that capital concerns do not become a problem down the line. Anyway, the most awful thing that can in all probability develop for your establishment is to find yourself embroiled in a long and troublesome situation that leaves you forever searching for the finances you really need on an continuous manner.

 

For just about any establishment in this condition, the complication 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 be taken care of which can easily leave you with short-term cash flow troubles. Thankfully, there are solutions out there for businesses to look into-- and one of these is factoring companies.

 

Factoring agencies will, in substitution for your statements, supply you with the funds immediately in order that you do not have to worry about the lingering phase which could make paying off the expenses and purchasing materialsmore troublesome. With this kind of setup, invoice factoring can become tremendously useful for lots of enterprises who have to get out of a cash trap which they have discovered themselves in.

 

For the reason that, depending upon the size of the task, it can take up to 60 days for a number of firms to get compensated then it is very important to take care of your own back and definitely not leave yourself resources short to pay the costs. After all, how many establishments possess two months cash flow just occupying there to cover all their overheads till they earn?

 

This is particularly true of trucking establishments. They tend to take care of numbers of accounts which means a considerable quantity of collection time involves business owner themselves. Attempting to get paid in time can become an amazing inconvenience and this is the reason why you utilize trucking factoring firms who are pleased to help out truckers specifically.

 

As all of us determine, trucking is an amazingly huge field with a lot of companies out there utilizing hundreds of drivers. However, several of these drivers end up in money difficulties given that they are still anticipating work from six weeks ago to actually pay them. When this is the scenario for a truck business, depending on factoring providers for solutions maybe the most suitable option left.

 

This indicates that a trucking business can provide the wages of the personnel, keep all the trucks refilled with gas and continue to surmount, develop and expand without constantly waiting for the resources which is taking too prolonged to come in. Trucking Business enterprises operating without a factoring system implemented are leaving themselves at considerable risk, as contenders cash out quickly and carry on to expand.

 

There's honestly almost nothing to be distressed about when it comes to using a Factoring firm-- they usually are not like a banking company or somebody who is going to leave you with a significant mound of financial obligation to pay back. You give them authentic invoices from work you have already accomplished , you are merely accelerating the repayment system.

 

In the United states of America, where truck enterprises develop, factoring enterprises are not considered borrowing in any capacity. This private arrangement then lets both parties to make money and delight in a worry-free future-- it provides the factoring provider a guaranteed resource of earnings to add to the list and it gives the trucking firm the needed finances that they worked hard to get.

 

The trucking enterprise bestows their accounts to the factoring enterprise. The trucking factoring agency then obtain the payment amounts from the trucking company's clients. Factoring has been in existence for centuries and has been utilized for many years by a lot of various industries-- but none more so than truckers. While you might lose out on a small part of the money, something like 1-3 % depending on who you deal with, it signifies that you are receiving the finances today and can actually begin putting the funds to perform.

 

After all, an IOU or an invoice is not actually going to pay for expenses, is it? For trucking enterprises when the funds can be great one day and gone the next, it is up to the drivers to work prudently and to guarantee they are leaving themselves with a notable measure of time and money to get through the week up until they are paid for again.

 

So the next instance your trucking establishment is enduring some short-term capital problems and you are devoting too much time chasing slowly paying customers, why not begin thinking of making use of a factoring companies as a manner to get your finances and give yourself a more at ease future in the eyes of your trucking team and your bank balance?

 

 

 

 

 

 

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Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. These loans can be a life-saver, but they're not always available to every business. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. 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.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not offer loans, and you do not go into debt when you get money from a Trucking Factoring company. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once 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 will not Incur Debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

2. No Collateral Required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

3. Receive Your Money Faster. With a Trucking Factoring company you can actually get the money you need faster. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. 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. With a bank loan interest continues to build, and this has to be paid the whole time you have a business loan; however with a Trucking Factoring company there is no interest - they take it right off the top by deducting it from the total amount of receivable accounts. So not only are you relieved of those monthly loan payments, but you also do not have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. 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 most important benefits is that once you sell your accounts receivable to the factory company, you do not have to take time away from running your business to collect the money owed from reluctant to pay customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very efficient at debt collecting, and this frees up your valuable time to devote to running your company.

 

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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