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Check the Kind of Bank Account You Want - Our Truck Factoring Companies Can Give
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Factoring invoices is useful for several reasons. It allows a trucking company to raise cash without obtaining brand-new financial obligation. While debt is occasionally required, the majority of trucking companies would choose to raise cash without obtaining cash. Debt is dangerous, and when it cannot be paid back, possessions can be repossessed. If the debt is large enough, it may even require a trucking companies out of business.

 

 

 

 

 

 

 

Receivables Mysteriously Disappear from the Books - Pick A Factoring Company Instead Of A Regular Bank Financing

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

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

Cash flow does not have to be an issue any ever more. Do not be fooled -- banks are not the only locations you can get funding. Other solutions are offered and you do not have to borrow money. Exactly what is trucking factoring ? One solution is called truck factoring. Trucking Factoring is the procedure of offering accounts receivable to a financier instead of waiting to gather the cash from the client. Oh, the Irony- Trucking factoring has a paradoxical distinction: It is the monetary backbone of numerous of America's most successful companies. Why is this paradoxical ? Because factoring is not instructed in business colleges, is seldom discussed in business strategies and is fairly unidentified to bulk of most of American company individuals.

Yet it is a financial procedure that releases up billions of dollars every year, allowing countless companies to grow and prosper. FACTORING has actually been around for countless years. Invoice Factoring Companies are financiers who pay cash for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your customer has agreed pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business deals, a big portion of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail deals. Utilizing the purest definition of the word, these large customer finance business are truly just large Invoice Factoring Businesses of customer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The store makes money almost instantly, although you do not pay up until you are ready.

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

Invoice Factoring provides the ways for a manufacturer to renew inventory and make even more products to offer: There is no longer a requirement to wait for earlier sales to be paid. FACTORING is not just a cash management device for manufacturers: Almost any type business can benefit from Receivable Loan Funding. Generally, a business that extends credit will have 10 to 20 percent of its annual sales tied up in accounts receivable at any given time. Think for a moment about exactly 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 offer that invoice for the money to satisfy those responsibilities. Using truck factoring companies is a fast and simple process. The factor purchases the invoice at a discount, usually a few percentage points less than the face value of the invoice.

 

 

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The U.s. Truck Association
states that there are about
195,000 truck drivers with freight trucking
businesses and
300,000 personal providers trucking
firms accredited to
operate in the United States that carried,
according to their most current data of millions
items, supplies and
standard materials .
There are numerous usual
providers either going solo or in
teams on our country
roadways transferring these
crucial items to our
shops, manufacturing facilities and shipping ports.

Moreover truck factoring
companies service
countless of them and offer their
receivables financing 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

 

A global city, Boston is placed among the top 30 most economically powerful cities in the world. Encompassing $363 billion, the Greater Boston metropolitan area has the sixth-largest economy in the country and 12th-largest in the world.Boston's colleges and universities have a significant effect on the regional economy. Boston attracts more than 350,000 college students from around the world, who contribute more than $4.8 billion annually to the city's economy. The area's schools are major employers and attract industries to the city and surrounding region. The city is home to a number of technology companies and is a hub for biotechnology, with the Institute rating Boston as the top life sciences cluster in the country. Boston receives the highest absolute amount of annual funding from the National Institutes of Health of all cities in the United States. The city is also considered highly innovative for a variety of reasons that include the presence of academia, access to venture capital, and the presence of many high-tech companies.Tourism comprises a large part of Boston's economy, with 21.2 million domestic and international visitors spending $8.3 billion in 2011. Because of Boston's status as a state capital and the regional home of federal agencies, law and government are another major component of the city's economy. The city is a major seaport along the United States' East Coast and the oldest continuously operated industrial and fishing port in the Western Hemisphere.Other important industries are financial services, especially mutual funds and insurance. Boston-based Fidelity Investments helped popularize the mutual fund in the 1980s and has made Boston one of the top financial cities in the United States. The city is home to the headquarters of publishing units also employ several hundred people in Boston. The city is home to three major convention centers�the Hynes Convention Center in the Back Bay, and the Seaport World Trade Center and Boston Convention and Exhibition Center on the South Boston waterfront.Several major companies headquartered within Boston or nearby�especially along Route 128,[143] the center of the region's high-tech industry. In 2006 Boston and its metropolitan area ranked as the fourth-largest cybercity in the United States with 191,700 high-tech jobs

 

 

Watch Our Trucking Factoring Companies YouTube Videos For More Information

 

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

The largest trucking companies in the U.S. set a revenue record in 2013, but revenuegrowth slowed for the second year in a row.

The combined revenue of the 50 largest motor carriers rose to $106.6 billion last year, according to The Top 50 Trucking Companies list, based on data prepared by Consulting Group in Pittsburgh.

 

The largest trucking companies in the U.S. set a revenue record in 2013, but revenuegrowth slowed for the second year in a row.

The combined revenue of the 50 largest motor carriers rose to $106.6 billion last year, according to The Top 50 Trucking Companies list, based on data prepared by Consulting Group in Pittsburgh.

 

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

 

Searching for the right trucking companies to move your freight can be tough, with the large amount of local, regional, and national truck carriers out there. Center helps make freight shipping simple, finding you the safest, reliable trucking companies every time you ship. Trucking companies are licensed and insured to carry freight safely and efficiently across the country, no matter the size or type of freight you need to ship.Plus, with the high volume of freight we move, we will work to get you the best freight rates possible. Simply enter in a few details below and you�ll see instant freight rates from all the top trucking companies in one easy screen

 

The largest trucking companies in the U.S. set a revenue record in 2013, but revenuegrowth slowed for the second year in a row.

The combined revenue of the 50 largest motor carriers rose to $106.6 billion last year, according to The Top 50 Trucking Companies list, based on data prepared by Consulting Group in Pittsburgh.

 

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

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

 

 

"

Since the mid 1980s Little Truck & Haul have been successfully running their freight business. 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, Little was a top rated accounts receivable mastermind of the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. The money was flowing, and times were great.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed to a crawl

 

. And worse yet, Little 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, Jared Henderson, CEO of Little felt a chill go down his spine whenever he would look at the weekly A/R reports. The number of clients who were late in their payments was continuing to grow.He had gone to his administrators and asked them what the problem had been. Were they doing things different, or wrong, when it came to collecting overdue accounts? By his bookkeepers records, this wasn't the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Little hadn't gone elsewhere. The had just gone!.To Jared Henderson the situation looked desperate. He had employees to pay, goods to ship, trucks to maintain and overhead that was almost unbearable when compared against the lack of funds that were coming in. In the evenings he would discuss his concerns with his wife, Maureen, and still find no relief from the worry and frustration.

 

""Lin, I have a really bad feeling,"" he would say with deep woe.""What could you do differently?"" she would say.Jared would stare off into the distance, and then slowly close his eyes. He could see the fleet of trucks he had purchased over the years. He could see them traveling, bringing goods to all of his clients. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What could cause this ultimate death spiral of business?""I think I know what it could be,"" Jared said. ""For way too long I've been relying solely on profits received from invoices. I've let too many of our customers go too long without paying on their bills."" 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.

 

""Jared 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 Jared strolled into his office and was determined to sit down and make every phone call to every client who had owed Little 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. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. A waste of time - a waste of money - he had the best intentions, but all the while Jared was realising just how much trouble he was in.Poor Jared 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.

 

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

 

""Sure thing Pamela, come on in."" Jared relaxed back into his chair and looked up at Pamelaerley.""Well Jared, this afternoon I did some research, trying to work out how we are 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 of factoring?"" she asked.""It sounds vaguely familiar. What is it?"" he said.She began, ""Well, it is really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Immediately?"" Jared interrupted.""Immediately, yes"" she added, ""In a nutshell, it is pretty easy. We can have an expert account manager review our numbers and help us complete a company profile. 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�s a broad view.""Jared replied cautiously ""I see - and what happens then?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

This company tells us what the cost will be to purchase factoring for our accounts receivable. The funding commences once we�ve arrived at an agreement.�Jared was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Pamela,"" he said.""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 Jared,"" she underlined a paragraph on the paper before him.""How flexible?"" he asked.""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. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" said Jared.Jared took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Precisely�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Jared thought about this and agreed with Pamelaerley. The customers who were in debt to Little Truck & Haul were professional resources of the company, but they were also long-standing friends. Jared wasn't prepared to lose these relationships just because they were having financial issues at the moment. Jared knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. 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 Pamela, thank you."" Pamela nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Jared stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. He wondered if there might be other problems freight factoring could help Little Truck & Haul with? Running his pencil down the sheet, he noted that the freight factoring company could assist with fuel costs, fuel advances, and fuel discount cards. Jared was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Jared 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.""I must tell Theodore the good news,"" muttered Jared to himself.His son-in-law Theodore had liked the idea of Little so much and revered his father in law for having such business acumen that only two years before, he had gathered the venture capital to begin his own transportation service company. Jared knew then what struggles Theodore would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Little was struggling then the little guys, like Theodore, were going to be in even more trouble. But, an antidote may have been found in freight factoring and Jared was soon to find out.Some months later, having successfully gone through the entire process of the application, having experts study his credit history and statements and review his accounts receivable, Jared found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They took that time and refocused effort to offering competitive prices in new territories. Jared looked back on the dismal months of life before freight factoring and almost shuddered at the thought. If Jared hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

A global city, Boston is placed among the top 30 most economically powerful cities in the world. Encompassing $363 billion, the Greater Boston metropolitan area has the sixth-largest economy in the country and 12th-largest in the world.Boston's colleges and universities have a significant effect on the regional economy. Boston attracts more than 350,000 college students from around the world, who contribute more than $4.8 billion annually to the city's economy. The area's schools are major employers and attract industries to the city and surrounding region. The city is home to a number of technology companies and is a hub for biotechnology, with the Institute rating Boston as the top life sciences cluster in the country. Boston receives the highest absolute amount of annual funding from the National Institutes of Health of all cities in the United States. The city is also considered highly innovative for a variety of reasons that include the presence of academia, access to venture capital, and the presence of many high-tech companies.Tourism comprises a large part of Boston's economy, with 21.2 million domestic and international visitors spending $8.3 billion in 2011. Because of Boston's status as a state capital and the regional home of federal agencies, law and government are another major component of the city's economy. The city is a major seaport along the United States' East Coast and the oldest continuously operated industrial and fishing port in the Western Hemisphere.Other important industries are financial services, especially mutual funds and insurance. Boston-based Fidelity Investments helped popularize the mutual fund in the 1980s and has made Boston one of the top financial cities in the United States. The city is home to the headquarters of publishing units also employ several hundred people in Boston. The city is home to three major convention centers�the Hynes Convention Center in the Back Bay, and the Seaport World Trade Center and Boston Convention and Exhibition Center on the South Boston waterfront.Several major companies headquartered within Boston or nearby�especially along Route 128,[143] the center of the region's high-tech industry. In 2006 Boston and its metropolitan area ranked as the fourth-largest cybercity in the United States with 191,700 high-tech jobs

 

 

More Trucking Factoring Companies Story Articles

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

 

More than forty years ago Eddie's father had started this business working as an owner-operator and eventually growing Morales Trucking Company into a fifteen trailer fleet. There had been some hard times when it seemed everything was going to go under and even Eddie�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 Eddie's hands and he needed to ensure that this business would be left in great shape for his sons.

 

To move Morales Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. His employees needed to be paid. They had families and household bills too. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. Every time he had to turn down a request, Morales Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Eddie 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?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. His father days were long gone and technology was actually an important improvement for the business such as having Qualcomm to cut down on fruitless time communicating on the phone for bills of lading.

 

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

 

He wondered about factoring - was this the answer for him? If he was being honest, he did not really understand how it all worked. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Eddie had to really consider what his next step was going to be. Eddie 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. 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. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. Many companies offered a non-recourse factoring program that suited him just fine. 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. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies were not interested in his credit nor the financial problems his father had experienced in the past. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Eddie 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 Morales 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.

 

Eddie stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. He suddenly realized that, with this new cash flow, he could actually expand Morales 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.

 

 

 

 

 

Veloxenergy

 

Accountsreceivablefactors.Com

 

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Trucking Factoring  Articles

"

�So It is not a loan?� asked Ernest Boyd, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she stated.Ernest Boyd owned a small trucking company, and his business had recently fallen on difficult times. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Martin. His company was called Robertson Trucking, named after both of his grandfathers, Troy and Norman. Both of these men had been very hardworking and had set a great example for Martin.Disaster had struck half a year ago, when two trucks in Martin�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 Martin's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.A big problem a lot of trucking companies came across was how bills were paid in the industry. Waiting a month or longer for bills to be paid was quite normal. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Ernest was an excellent business man, and he certainly hadn't done anything wrong. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.That�s where the woman across the desk came in. Ernest knew she was employed by a Factoring company and that her name was Deanna. 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.Ernest agreed. It sounded good to him, almost too good.Deanna laughed. �You look like you don�t believe me,� she chuckled.�Oh no, I do: it just sounds too good to be true. I actually thought I might end up losing my business.�Deanna smiled, agreeing. �Yes, we get a lot of that. Listen, I�d hate to see you lose your company. We know how hard you work, and that you've invested everything in your business. We all need help sometimes. That's why we do what we do.""In any case, thank you for coming to see me.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Deanna with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.

 

Ernest filled the form out, with Deanna available to help him if he needed it. The completed profile gave Deanna and her company all the information they needed on Martin's business, and with this information they would determine if this business would in fact be suitable for Factoring. In truth, not all companies were. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. As Ernest completed his form, Deanna listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Deanna took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Martin�s hand. He also stood up, and they smiled at each other. Ernest walked Deanna to the door where they said 'Goodbye', then he went back into his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He leaned back and closed his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. But now, after speaking to Deanna 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 sudden panic attacks, not matter where he was. Already he could feel all the stress start to drain away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was there, he was on the right path, and he was working to make things right.His mind wandered back to the very beginning, when he first started his business. 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 six months off, and during that time he decided to create Robertson Trucking. And that's exactly what he did. For the second time in his short life he created a company from the ground up. The business had been an instant success.And then the trucks went down, and his success looked to be in flux. He was about to turn fifty. He didn�t think he had it in him, to save this company. But he couldn�t give up. Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He did not want to quit - both for himself and for his staff members.And now, because of factoring, he was sure he wouldn�t have to. Martin'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.

 

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More Trucking Factoring Company Story Articles

The reason why Trucking Firms Make use of Factoring Firms.

 

As the owner of your own company, you may be much more than aware already of the challenge in making certain that capital concerns do not become a dilemma down the line. Anyway, the most terrible thing that can potentially transpire for your enterprise is to find yourself involved in a long and tough condition that leaves you forever searching for the cash you are in need of on an ongoing manner.

 

For virtually any company in this condition, the issue can come for waiting for work to lapse and actually be brought in into your balance. Invoices, checks, and the like could take some time to actually to be taken care of which can easily leave you with temporary available resources problems. The good news is, there are alternatives out there for enterprises to examine-- and just one of these is factoring agencies.

 

Factoring companies will, in substitution for your invoices, grant you with the cash right now in order that you do not have to worry about the delaying duration that could make paying off the bills and purchasing materialsmore tough. With this sort of system, invoice factoring can end up being incredibly helpful for several enterprises who have to avoid a money pitfall which they have discovered themselves in.

 

For the reason that, basing on the volume of the job, it can take up to 60 days for many establishments to get paid then it is vital to cover your own back and definitely not leave yourself funds short to pay off the monthly bills. After all, how many enterprises have two months revenue just lying there to cover all their expenditures till they earn?

 

This is specifically true of trucking companies. They generally manage numbers of invoices which means a huge quantity of collection time involves business owner themselves. Trying to get paid off promptly can turn into an incredible struggle and this is precisely why you employ trucking factoring organizations who are pleased to help out truckers mainly.

 

As most of us know, trucking is an exceptionally massive market with many firms out there utilizing hundreds of operators. Regretfully, numerous of these drivers wind up in finances predicaments because they are still awaiting work from six weeks previously to actually compensate them. When this is the scenario for a trucking business, consulting factoring providers for assistance might be the ideal choice left.

 

This signifies that a truck business can compensate the salaries of the crew, keep all the trucks refilled with gas and continue to escalate, grow and expand without always waiting for the income which is taking too prolonged to come in. Trucking Business enterprises working without a factoring program established are leaving themselves at notable threat, as contenders cash out quickly and continue to broaden.

 

There's honestly not much to be distressed about when it comes to using a Factoring company-- they usually are not like a banking company or a person who is going to leave you with a massive mound of financial debt to repay. You give them genuine invoices from output you have already finalized , you are only speeding the payment system.

 

In the United States, where truck agencies survive, factoring establishments are not considered borrowing in any capacity. This private settlement then permits both parties to make money and take pleasure in a worry-free future-- it gives the factoring firm a secured resource of income to add to the list and it offers the trucking company the required cash that they sweated to get.

 

The trucking enterprise gives their statements to the factoring firm. The trucking factoring business then receive the payments from the trucking company's clients. Factoring has been in existence for centuries and has been employed for decades by plenty of different industries-- but none exceeding so than truckers. While you may miss out on a small part of the money, something like 1-3 % depending on who you work with, it signifies that you are acquiring the cash today and can actually begin setting the resources to operate.

 

Anyway, an IOU or an invoice is absolutely not going to cover costs, is it? For trucking establishments when the resources can be fantastic one day and gone the next, it is up to the drivers to work smartly and to make sure that they are leaving themselves with a substantial volume of time and finance to get through the week until they are handed over once more.

 

So the next instance your trucking company is having some momentary capital issues and you are investing an excessive amount of time chasing slowly paying clienteles, why not start off thinking about making use of a factoring businesses as a manner to get your cash and give yourself a more pleasant future in the eyes of your trucking personnel and your bank dividend?

 

 

 

 

 

 

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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. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Once the loan is paid off, you can then apply for another loan if the need arises.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to sell. Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

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. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. 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. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. There's no collateral required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. 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. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.You receive interest up-front. With a bank loan interest continues to build, and this has to be paid the whole time you have a business loan; however with a Trucking Factoring company there is no interest - they take it right off the top by deducting it from the total amount of receivable accounts. So you do not have to worry about monthly loan repayments, and you do not have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

As you can see 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 good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

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

 

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