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How To Make a Good Profits - Our Freight Factoring Company Can Give
Your Freight Company The Money Your Company Needs

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trucking invoice factoring companies

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factoring companies for trucking industry

Invoice Factoring is advantageous for numerous factors. It allows a trucking business to raise cash without acquiring new debt. While financial obligation is in some cases needed, a lot of trucking companies would prefer to raise cash without borrowing cash. Financial obligation is dangerous, and when it cannot be paid back, possessions can be repossessed. If the financial obligation is huge enough, it could even require a trucking firms out of business.

 

 

 

 

 

 

 

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

Exactly how to Enhance Money Flow Without Borrowing -Cash Money flow is among the main reasons businesses fail.

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

Money flow does not have to be a problem any ever more. Do not be deceived -- banks are not the only locations you can get financing. Other options are available and you do not have to borrow money. What is truck factoring ? One solution is called trucking factoring. Trucking Factoring is the process of selling invoices to an investor rather than waiting to gather the cash from the client. Oh, the Irony- Truck factoring has a paradoxical difference: It is the monetary backbone of many of America's most effective companies. Why is this paradoxical ? Because receivable funding is not taught in business colleges, is seldom discussed in business plans and is fairly unidentified to bulk of most of American company people.

Yet it is a financial procedure that releases up billions of dollars every year, enabling countless companies to grow and prosper. Receivable Financing has actually been around for countless years. Receivable Funding Companies are investors who pay cash for the right to get the future payments on your invoices. An unpaid receivable or invoice has value. It is a debt your customer has actually to pay in the near future. Factoring Principals--Although factoring offers solely with business-to-business transactions, a big percentage of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a type of factoring in their retail transactions. Using the purest definition of the word, these big consumer finance companies are really just large Trucking Factoring Companies of consumer paper. Consider it: You make a purchase at Sears and charge it to your MasterCard. The shop makes money almost immediately, although you do not pay up until you are ready.

For this service, the credit card business charges Sears a fee (typical common normal fees range from 2 to 4 percent of the sale). The Benefits Receivable Financing can offer many advantages to cash-hungry companies. Rather than wait 30, 60, 90 days or longer for payment on an item that has currently been provided, a company can factor (sell) its receivables for money at a small discount off the amount of the invoice. Payroll, marketing efforts, and working capital are just a few of the company requirements that can be satisfied with instant  cash.

Invoice Factoring provides the ways for a producer to replenish inventory and make more items to sell: There is no longer a requirement to wait for earlier sales to be paid. FACTORING is not just a money management tool for manufacturers: Practically any kind business can benefit from Accounts Receivable Factoring. Typically, a company that extends credit will have 10 to 20 percent of its annual sales bound 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 expense or today s payroll with a customer s invoice, but you can offer that invoice for the cash to satisfy those obligations. Using trucking factoring companies is a fast and easy process. The factoring company purchases the invoice at a discount, usually a couple of percentage points less than the face value of the invoice.

 

 

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The American Truck Organization
states that there are about
200,000 employees with transportation
businesses and
276,000 personal providers trucking
firms licensed to
run in America that transferred,
according to their latest listings of millions of
products, supplies and
fundamental materials .
There are a number of usual
carriers either going solo or in
teams on our nation
roadways transferring these
crucial items to our
stores, manufacturing facilities and ports.

And truck factoring
corporations support
many of them and offer their
receivables financing facilities
countrywidecomprising
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

 

 

Phoenix, the capital of Arizona and seat of Maricopa County, is the largest city in the state. It is located in the center of Arizona, on the Salt River.The prehistoric Hohokam Indians first settled the area about 300 B.C. and dug a system of extensive irrigation canals for farming. The Indian culture mysteriously broke up in the 1400s.The site was permanently resettled by Jack Swilling and �Lord Darrell� Duppa about 1867. Because the city was founded on the ruins of the ancient civilization, it was named Phoenix after the legendary bird that could regenerate itself. The irrigation canals were restored for farming, and ranching and prospecting began in the surrounding area. The city quickly grew as an important trading center. Phoenix was incorporated as a city in 1881 and was made the territorial capital in 1889. It became the state capital when Arizona was admitted to the Union in 1912.Partly owing to its warm, dry climate, the city developed rapidly in the decades after World War II. Between 1950 and 1990 the population increased from 100,000 to 980,000. Phoenix continued was one of the fastest-growing cities in the U.S. between 1990 and 2000 when its population increased another 34%, to 1.3 million. A more modest 9% increase brought its numbers to 1.44 million in 2010.Phoenix is a commercial and manufacturing center in an agricultural region. Major industries include government, agricultural products, aerospace technology, electronics, air-conditioning, leather goods, and Indian arts and crafts. Mining, timbering, and tourism also contribute to the economyPhoenix, city (1990 pop. 983,403), state capital and seat of Maricopa co., S Ariz., on the Salt River; inc. 1881. It is the largest city in Arizona, the hub of the rich agricultural region of the Salt River valley, and an important center for research and development, electronics, telecommunications, semiconductors, and the aerospace industry. Food processing and the production of aircraft parts, electrical appliances, agricultural chemicals, machinery, tools, plastic and wood products, cosmetics, and leather goods remains central to its manufacturing base. Greater Phoenix is a popular resort area, and tourism is also important to the economy. The city was founded on the site of ancient Native American canals; hence its name, signifying a new town which had risen from the ruins of an old civilization. In 1868, pioneers developed what remained of the Native Americans' irrigation system; water was diverted from the Salt River, and farming began, supplemented by mining and ranching in the surrounding desert and mountains. The completion (1911) of the Roosevelt Dam on the Salt River brought power and abundant water to the community, and opened a new era of farming in the valley.Phoenix grew as an important trade and distribution center. It boomed during World War II, when three airfields were opened. The phenomenal growth continued after the war; veterans who had been stationed in Phoenix returned to stay, and manufacturing concerns moved there to utilize the large labor supply. The expanding metropolitan area includes the suburbs of Mesa, Scottsdale, Tempe, Glendale, Chandler, and Peoria, all of which are among the fastest-growing cities in the United States.Among the area's many outstanding parks are the Desert Botanical Gardens, Camelback Mountain, and the nearby South Mountain Park, which has an active gold mine. Also in the area are a number of Native American communities and reservations, national monuments, and state parks. Among its museums are the Heard Museum, with Native American art of the Southwest; the Phoenix Art Museum; the Pioneer Arizona Living History Museum, with pioneer relics; the Pueblo Grande Museum, containing excavations of Native American ruins c.800 years old; and the Arizona Capitol Museum. Other attractions are the Phoenix Zoo, the Arizona Science Center, and the Mystery Castle, built of native rock.Phoenix is the seat of the Univ. of Phoenix, Arizona State Univ. West, Grand Canyon Univ., and Southwestern College. It has a symphony orchestra, as well as opera and ballet companies. .

 

 

 

 

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

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.

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.

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.

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.

 

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.

 

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.

 

 

"

Since the mid 1980s Elliott Truck & Haul have been successfully running their freight business. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the heady times from 2002 to 2007, Elliott 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

 

. Worse still, it was noticed by Elliott in early 2008 that even though most of their loyal customers were on time with their payments, there were a few late bloomers who were starting to spread the disease. Spring changed to summer, summer changed to fall, and the CEO of Elliott, Rick Price, 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 things different, or wrong, when it came to collecting overdue accounts? When checking his bookkeeper's records this was definitely not the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Elliott money had jumped ship and decided to leave him holding the bag.

 

. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. They had just gone home.To Rick Price the situation looked desperate. Rick 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. At night he would speak to his wife Katie and shake his head in frustration.

 

""Lin, I have a really bad feeling,"" he would say with deep woe.""What could you do differently?"" she would ask.Rick would stare off for a moment and then close eyes. He could see the fleet of trucks he had purchased over the years. He could see them on the road, delivering good to all his loyal customers. But 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 know what it is,"" Rick said. ""For way too long I've been relying solely on profits received from invoices. For too long I've been allowing our clients to let their accounts become overdue."" Linda could only grab her husband's hand and look at him lovingly, ""it is a hard economy. It might be awhile until things get settled up.

 

""Rick knew very well that Katie was only trying to help, but his responsibilities weighed heavily on his shoulders and he knew he had better do something soon to resolve this situation.The following day Rick walked into his office with a spring in his step, determined to call each and every client who owed money to Elliott Truck & Haul. 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 Rick 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 Heathererley knocked at his door.

 

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

 

""Of course Heather, please come in."" Rick relaxed back into his chair and looked up at Heathererley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Rick."" 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?"" Heathererley asked.""It sounds vaguely familiar. What is factoring""? he asked.She began, ""Well, it is really very simple. So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Rick interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""In a nutshell, it is pretty easy. We start by having a professional account manager review our figures and help us set up a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.""I see,� Rick said. �And then what?""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. There�s a lot of flexibility depending on the business volume and credit histories. The company will advise us the cost to purchase factoring for our company's accounts receivable. The funding commences once we�ve arrived at an agreement.�Rick leaned forward and reviewed the paperwork closely.""It sounds too good to be true, Heather,"" he said.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Rick: 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, Rick,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" asked Rick.""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 Rick.He took a deep breath and looked at his secretary with something she recognized as hope.""Exactly�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Rick thought about this and agreed with Heathererley. The clients who owed them money were long standing friends and professional resources of Elliott. They did not want to throw away these relationships because they were having trouble paying their bills now. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. He did not want to lose business but he also did not want to lose any more money.""Let me go over this tonight Heather, and thankyou."" Heather nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Rick keep the shirt on his back, and possibly hers too.Rick sat behind his desk and looked over the details Heather had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Elliott Truck & Haul with? With his pencil gliding down the sheet he noticed that the factoring company could help fray the cost of fuel with fuel discount cards and fuel advances. Rick was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Rick 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 Aaron the good news,"" Rick muttered to himself.Aaron is Rick's son-in-law, and he really admired the ideas behind Elliott, so much so that only two years before he had started his own transportation service business. At that time Rick knew the struggles Aaron would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Elliott was struggling then the little guys, like Aaron, were going to be in even more trouble. Perhaps the antidote to these problems was in freight factoring, and they were about 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, Rick 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 used that time to refocus their efforts in being competitive in new territories. Rick looked back on the dismal months of life before freight factoring and almost shuddered at the thought. If Rick hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

 

More Trucking Factoring Companies Story Articles

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

 

More than forty years ago Billy's father had started this business working as an owner-operator and eventually growing Brooks Trucking Company into a fifteen trailer fleet. Yes, they had survived some very difficult times when it appeared like they might go under, and even Billy's mother had jumped into the cab at times to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. But now things were different: the company was in Billy's hands and he needed to ensure that this business would be left in great shape for his sons.

 

There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. His employees needed to be paid. They all have families and the usual household bills. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. He knew that turning down these requests made Brooks 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. Billy 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.

 

Billy believed a successful man is always thinking of his next step. What would be the next step for Brooks Trucking? And how would he be able to afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

He wondered about factoring - was this the answer for him? 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. 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. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Billy had to really consider what his next step was going to be. Billy 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. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. 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. 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 was good money.

 

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

 

 

 

 

 

 

 

 

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Trucking Factoring  Articles

"

�So, this is not a loan?� Angel Anderson asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Angel smiled at him, shaking her head.�Not quite,� she stated.Angel Anderson 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 Calvin. His company was called Willis Trucking, named after both of his grandfathers, Terry and Wesley. Both of these men had been very hardworking and had set a great example for Calvin.Six months ago disaster struck Calvin's business when two out of his fleet of fifteen trucks were taken off the road.

 

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 Calvin's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Angel had on hand.A big problem a lot of trucking companies came across was how bills were paid in the industry. You could go a month or more before bills were completely paid off. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Angel wasn�t a bad owner, and he hadn�t messed up. 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.And that's why he found himself across the desk from this woman. Her name was Myrtle and she worked for a factoring company. He had accidentally come across her company one night when he was working late, searching the internet to see if there was some solution to his financial dilemma.Myrtle explained. �it is really not a loan at all: we actually buy your accounts receivable. we are not giving you finance to be repaid later: we are purchasing something from you, and when you can you can buy it back. That way we�re protected from a complete loss, but you�re protected from the outrageous fees you would find in a loan from the bank.Angel nodded. It sounded perfect - perhaps too good?.Myrtle laughed. �You look like you don�t believe me,� she said.�No, I do, I just think it sounds a bit too good to be true. I thought I was going to lose my company.�Myrtle smiled, agreeing. �Yes, we get a lot of that. There's no way we want to see you lose your business. You work hard, you�ve put everything you can into it. We all need help sometimes. That's why we do what we do.""In any case, thank you for coming to see me.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� said Myrtle with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Angel completed the form, with Myrtle offering advice as needed.

 

The profile filled Myrtle and her company in on Calvin�s company, and would help them determine if he was suitable for factoring. In truth, not all companies were. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. As Angel completed his form, Myrtle listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Myrtle took it and slid it into her briefcase. She then stood, reached across the desk and shook Calvin�s hand. He also stood up, and they smiled at each other. Angel walked Myrtle to the door where they said 'Goodbye', then he went back into his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He shut his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. Talking to Myrtle though, learning about factoring, it felt like a weight had been lifted from his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.All those long, sleepless nights. The terrifying panic attacks that occurred regardless of where he was. Already he could feel all the stress start to drain away. He 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 really successful. Home cooking in his hometown, and he had done very well.But he had gotten bored. He wasn't passionate about the food industry. He thought long and hard, and then he decided to sell the restaurant. He took six months off, and during that time he decided to create Willis Trucking. And that's exactly what he did. For the second time in his short life he created 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.

 

The idea of cutting his losses, shutting down, laying off his workers, it actually made him 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. Angel opened his eyes, sat forward, turned his computer on. He had things to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

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More Trucking Factoring Company Story Articles

Why Truck Agencies Employ Factoring Firms.

 

As the operator of your own business, you may likely be more than wary already of the hardship in making certain that capital issues do not become a problem down the line. After all, the most awful thing that can in all probability occur for your establishment is to find yourself involved in a long and challenging situation that leaves you forever trying to find the resources you really need on an ongoing basis.

 

For just about any establishment in this instance, the concern can come for waiting for work to lapse and actually be paid out into your balance. Bill of sales, checks, and the like can take some time to actually to be taken care of which can certainly leave you with temporary available resources dilemmas. Thankfully, there are solutions out there for enterprises to check out-- and one of these is factoring companies.

 

Factoring companies will, in substitution for your invoices, give you with the money now to ensure that you do not have to worry about the delaying period which could make paying off the bills and obtaining materialsmore hard. With this form of system, invoice factoring can become tremendously helpful for countless establishments who need to avoid a money pitfall which they have found themselves in.

 

Simply because, depending on the volume of the job, it can take up to 60 days for several business enterprises to get paid then it is critical to cover up your own back and definitely not leave yourself resources short to settle the expenses. After all, how many companies have two months cash flow just lying there to handle all their expenditures until they make money?

 

This is particularly correct of truck companies. They often tend to manage great deals of invoices which means a considerable amount of collection time demands company owner themselves. Seeking to get paid promptly can turn into an unbelievable hassle and this is why you use truck factoring firms who are happy to help out truckers mainly.

 

As we all realize, trucking is an surprisingly enormous industry with many companies out there utilizing hundreds of operators. Regretfully, many of these drivers land up in money difficulties for the reason that they are still waiting on work from six weeks earlier to actually pay them. When this is the case for a truck agency, resorting to factoring agencies for solutions may be the most ideal alternative left.

 

This signifies that a trucking business can pay out the wages of the personnel, keep all the cars filled with gas and continue to escalate, evolve and expand without always waiting for the resources which is taking too long to come in. Trucking Businesses functioning without a factoring program established are leaving themselves at considerable danger, as competitors cash out quickly and go on to grow.

 

There's absolutely not a thing to be worried about when it comes to utilizing a Factoring agency-- they usually are not like a financial institution or somebody who is going to leave you with a significant heap of financial obligation to repay. You give them legitimate invoices from work you have already finished , you are merely quickening the repayment process.

 

In the Usa, where trucking establishments survive, factoring companies are not considered borrowing in any capacity. This confidential settlement then permits both parties to profit and experience a convenient future-- it provides the factoring company a secured asset of cash flow to add to the list and it offers the trucking firm the required cash that they worked hard to obtain.

 

The trucking company presents their accounts to the factoring agency. The trucking factoring provider then take the payment amounts from the trucking company's clients. Factoring has been all around for centuries and has been utilized for decades by plenty of diverse business sectors-- but none more so than truckers. While you may well lose out on a small part of the money, something like 1-3 % depending upon who you team up with, it implies that you are acquiring the funds today and can actually start off putting the cash to perform.

 

After all, an IOU or an invoice is not going to fund expenses, is it? For trucking companies when the money can be fantastic one day and gone the next, it is up to the vehicle drivers to work sensibly and to ascertain they are leaving themselves with a substantial amount of time and money to get through the week till they are handed over once more.

 

So the next moment your trucking company is bearing some short-term capital troubles and you are investing excessive time chasing slowly paying clienteles, why not start taking into consideration using a factoring companies as a method to get your cash and give yourself a more pleasant future in the eyes of your trucking crew and your bank dividend?

 

 

 

 

 

 

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Traditional 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. 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. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies do not offer loans, and you do not go into debt when you get money from a Trucking Factoring company. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. 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 you have set up Trucking Factoring account it continues as long as you wish it too and the amount of money available to you even can grow as your business grows, giving you the ready cash you need to meet your own obligations.

 

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. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

2. There's no collateral required. Another 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 means that it is easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.

 

3. Receive Your Money Faster. 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. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.

 

4.Interest is Paid Up Front. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you do not have to continue to pay interest as they take it right off the top, deducting it from the total amount of accounts receivable. So you do not have to worry about monthly loan repayments, and you do not have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

As you can see 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.

 

In addition, since the Trucking Factoring company evaluates the credit quality of your customers prior to purchasing the accounts receivable you gain valuable information into which customers are likely to pay and which ones are not so likely to pay.A Trucking Factoring company is not the only method of gaining access to finance for the running and growing of your business, however it does offer a financing option well worth considering.

 

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Factoring Companies by City

New York City

Los Angeles


Chicago


Houston


Philadelphia


Phoenix


San Antonio


San Diego


Dallas


San Jose

Austin


Jacksonville


Indianapolis


San Francisco


Columbus


Fort Worth


Charlotte


Detroit


El Paso


Memphis

 

 

Boston


Seattle


Denver


Washington DC


Nashville-Davidson


Baltimore


Louisville/Jefferson


Portland


Oklahoma City


Milwaukee


Las Vegas


Albuquerque


Tucson


Fresno


Sacramento


Long Beach


Kansas City


Mesa


Virginia Beach


Atlanta

 

Colorado Springs


Raleigh


Omaha


Miami


Oakland


Tulsa


Minneapolis


Cleveland


Wichita


Arlington