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Do You Do Any Of These Embarrassing Things? - Our Freight Invoice Factoring Company Can Give
Your Freight Company The Cash Your Company Needs

smallbusinessfactoring.org

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Trucking Factoring is advantageous for several factors. It enables a trucking business to raise cash without getting new debt. While financial obligation is often necessary, a lot of freight brokerage would like to raise money without borrowing cash. Debt is dangerous, and when it cannot be paid back, properties can be repossessed. If the financial obligation is huge enough, it might even require a trucking companies out of business.

 

 

 

 

 

 

 

How I Improved My Profits in One Evening - Pick An Accounts Receivable Factoring Company Instead Of A Typical Bank Funding

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

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

Money flow does not have to be a problem any more. Do not be deceived -- banks are not the only places you can get financing. Other options are offered and you do not have to borrow money. Exactly what is truck factoring ? One solution is called trucking factoring. Truck Factoring is the process of selling invoices to an investor instead of waiting to gather the cash from the client. Oh, the Irony- Truck factoring has an ironic difference: It is the financial foundation of many of America's most successful companies. Why is this ironic ? Since trucking factoring is not instructed in business colleges, is seldom discussed in business strategies and is relatively unknown to the majority of most of American company individuals.

Yet it is a financial process that frees billions of dollars every year, enabling thousands of companies to grow and prosper. Invoice Factoring has been around for countless years. Trucking Factoring Businesses are investors who pay cash for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a debt your client has agreed pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business deals, a big percentage of the retail company utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a type of factoring in their retail transactions. Using the purest meaning of the word, these big consumer finance business are really simply large Commercial Factoring Companies of customer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The store makes money practically instantly, although you do not pay up until you are ready.

For this service, the credit card business charges Sears a charge (typical common normal fees range from 2 to four percent of the sale). The Advantages Truck Factoring can offer many advantages to cash-hungry companies. Rather than wait 30, 60, 90 days or longer for payment on an item that has already been delivered, a company can factor (sell) its receivables for cash at a small discount off the dollar value of the invoice. Payroll, advertising efforts, and working capital are simply a few of the business requirements that can be met with instant  money.

Receivable Loan Financing offers 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 money management tool for manufacturers: Practically any kind company can benefit from Invoice Factoring. Typically, a company that extends credit will have 10 to 20 percent of its annual sales tied up in accounts receivable at any given time. Think for a moment about 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 sell that invoice for the money to meet those obligations. Using truck factoring companies is a fast and simple procedure. The factor buys the invoice at a discount, typically a few portion points less than the face value of the invoice.

 

 

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The American Transportation Organization
specifies that there are about
200,000 work with transportation
businesses and
300,000 private providers trucking
companies licensed to
run in the United States that carried,
according to their most current listings of millions of
items, supplies and
fundamental materials .
There are numerous typical
carriers either going solo or in
groups on our nation
highways transporting these
important items to our
stores, manufacturingplants and shipping ports.

Plus freight factoring
companies service
several of them and offer their
receivable loan facilities
nationallycounting
including the following states.

: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho State, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming

 

Charlotte has become a major U.S. financial center and is now the second largest banking center in the United States (after New York).[] The nation's second largest financial institution by assets, , calls the city home. The city was also the former corporate home of Wachovia until its 2008 acquisition by in San Francisco CA; with the two banks fully merged at the end of 2011, which included transitioning all of the branches in the Carolinas to o branches by October 2011. Since then, Charlotte became the regional headquarters for East Coast Operations of , which is headquartered in San Francisco, California. Charlotte also serves as the headquarters for capital markets activities including sales and trading, equity research, and investment banking. headquarters, along with other regional banking and financial services companies, are located primarily in the Uptown central business district.Charlotte has eight Fortune 500 companies in its metropolitan area, listed in order of their rank: was headquartered in Charlotte.Carowinds Amusement Park, owned by Cedar Fair Entertainment Company is located in Charlotte.Charlotte is the major center in the U.S. motorsports industry, housing multiple offices of industry's race teams, employees and drivers are based nearby. The large presence of the racing technology industry along with the newly built , is iuencing other top professional drag racers to move their shops to Charlotte as well. The Metrolina Speedway is expected to bring more local racing along with a skate park, shoppes, restaurants, and an cale hotel.Located in the western part of Mecklenburg County is the U.S. National Whitewater Center, which consists of man-made rapids of various degrees and is open to the public year round. One Center behind the in Uptown CharlotteThe Charlotte Region has a major base of energy-oriented organizations and has become known as �Charlotte USA � The New Energy Capital.� In the region there are more than 240 companies directly tied to energy sector collectively employing more than 26,400. Since 2007 more than 4,000 energy sector jobs have been announced. Major energy players in Charlotte include The University of North Carolina at Charlotte has a reputation in energy education and research and its Energy Production and Infrastructure Center (EPIC) trains energy engineers and conducts research.The area is an increasingly growing trucking and freight transportation hub for the East Coast. The Charlotte Center city has seen remarkable growth over the last decade. Numerous residential units continue to be built uptown, including over 20 skyscrapers under construction, recently completed, or in the planning stage. Many new restaurants, bars and clubs now operate in the Uptown area. Several projects are transforming the Midtown Charlotte/Elizabeth area.In 2013, named Charlotte among its list of Best Places for Business and Careers. Charlotte has also been listed as the #20 largest city in the US, and the #60 fastest growing city in the US between 2000-2008.

 

 

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

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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

 

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.

 

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

 

"

Since the mid 1980s Cook 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 boom times from 2002 to 2007 Cook Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. Cash was flowing and times were good for all.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed down. And worse yet, Cook had noticed during the early part of 2008 that though the bulk of their clients were always on time with payments, the few late-bloomers there were, had seemingly started to spread this illness. Spring changed to summer, summer changed to fall, and the CEO of Cook, Justin Perry, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The number of clients who were late in their payments was continuing to grow.He had already been to the administrators to ask what the actual problem was. Were they doing things different, or wrong, when it came to collecting overdue accounts? By his bookkeepers records, this wasn't the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Cook money had jumped ship and decided to leave him holding the bag.

 

. They could not afford to pay him their debt, but they could afford a lesser service, maybe. 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.This current state-of-affairs was causing Justin Perry to have some very restless nights. There were goods to ship, employees to pay, trucks to repair and maintain, and continuous overheads that were very extensive when compared to the funds (or lack of) that were incoming. At night he would speak to his wife Gloria and shake his head in frustration.

 

""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would ask.Justin would stare off for a moment and then close eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them on the road, delivering good to all his loyal customers. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. Why couldn�t he work out how to resolve this financial problem with his business?""I know what it is,"" said Justin. ""I've relied too long on the profits I receive from invoices alone. For too long I've been allowing our clients to let their accounts become overdue."" All Gloria could do was hold his hand and look at him tenderly. 'We know it is a difficult economy at the moment - perhaps it will take a while for people to get on top of their bills'.""Gloria was trying so hard to support her husband in these worrying times, while Justin was weighed down with the worry of how he was going to handle this situation he found himself in.The following day Justin walked into his office with a spring in his step, determined to call each and every client who owed money to Cook 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 Justin 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 Tammyerley knocked at his door.

 

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

 

""Of course Tammy, please come in."" Justin relaxed back into his chair and looked up at Tammyerley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Justin."" 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?"" Justin 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. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It provides a very broad view.""I see,� Justin said. �And then what?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. 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. Once we arrive at a mutual agreement, the funding begins.�Justin was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Tammy,"" he said.""Now, now, I know, I thought the same thing. But think about it, Justin: 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. And they're flexible Justin,"" she underlined a paragraph on the paper before him.""Just how flexible?"" he asked.""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 Justin.Justin took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Justin took a moment to think about this solution, and agreed with his secretary. The clients who owed them money were long standing friends and professional resources of Cook. They did not want to throw away these relationships because they were having trouble paying their bills now. Justin 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. He did not want to lose business but he also did not want to lose any more money.""Let me go over this tonight Tammy, and thankyou."" Tammy nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Justin keep the shirt on his back, and possibly hers too.Justin 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 Cook 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. Justin was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Justin was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""Well, I'll have to tell Kent about this,"" muttered Justin to himself.His son-in-law Kent had liked the idea of Cook 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. At that time Justin knew the struggles Kent would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Cook was hurting, a little guy like Kent was about to catch his death. Perhaps the antidote to these problems was in freight factoring, and they were about to find out.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Justin was beginning to find his way out of the hole his debtors had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They used that time to refocus their efforts in being competitive in new territories. Justin looked back on the dismal months of life before freight factoring and almost shuddered at the thought. He probably wouldn't be in business today had he not learned just in time about freight factoring.

 

"

 

Charlotte has become a major U.S. financial center and is now the second largest banking center in the United States (after New York).[] The nation's second largest financial institution by assets, , calls the city home. The city was also the former corporate home of Wachovia until its 2008 acquisition by in San Francisco CA; with the two banks fully merged at the end of 2011, which included transitioning all of the branches in the Carolinas to o branches by October 2011. Since then, Charlotte became the regional headquarters for East Coast Operations of , which is headquartered in San Francisco, California. Charlotte also serves as the headquarters for capital markets activities including sales and trading, equity research, and investment banking. headquarters, along with other regional banking and financial services companies, are located primarily in the Uptown central business district.Charlotte has eight Fortune 500 companies in its metropolitan area, listed in order of their rank: was headquartered in Charlotte.Carowinds Amusement Park, owned by Cedar Fair Entertainment Company is located in Charlotte.Charlotte is the major center in the U.S. motorsports industry, housing multiple offices of industry's race teams, employees and drivers are based nearby. The large presence of the racing technology industry along with the newly built , is iuencing other top professional drag racers to move their shops to Charlotte as well. The Metrolina Speedway is expected to bring more local racing along with a skate park, shoppes, restaurants, and an cale hotel.Located in the western part of Mecklenburg County is the U.S. National Whitewater Center, which consists of man-made rapids of various degrees and is open to the public year round. One Center behind the in Uptown CharlotteThe Charlotte Region has a major base of energy-oriented organizations and has become known as �Charlotte USA � The New Energy Capital.� In the region there are more than 240 companies directly tied to energy sector collectively employing more than 26,400. Since 2007 more than 4,000 energy sector jobs have been announced. Major energy players in Charlotte include The University of North Carolina at Charlotte has a reputation in energy education and research and its Energy Production and Infrastructure Center (EPIC) trains energy engineers and conducts research.The area is an increasingly growing trucking and freight transportation hub for the East Coast. The Charlotte Center city has seen remarkable growth over the last decade. Numerous residential units continue to be built uptown, including over 20 skyscrapers under construction, recently completed, or in the planning stage. Many new restaurants, bars and clubs now operate in the Uptown area. Several projects are transforming the Midtown Charlotte/Elizabeth area.In 2013, named Charlotte among its list of Best Places for Business and Careers. Charlotte has also been listed as the #20 largest city in the US, and the #60 fastest growing city in the US between 2000-2008.

 

 

More Trucking Factoring Companies Story Articles

"

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

 

More than forty years ago Adrian's father had started this business working as an owner-operator and eventually growing Burton Trucking Company into a fifteen trailer fleet. There had been some hard times when it seemed everything was going to go under and even Adrian�s mother strapped herself into a cab to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. Now the company was solely in Adrian�s hands and he wanted to live to see it in better shape for his sons.

 

There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. He had employees to pay. They all have families and the usual household bills. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. Every time he had to turn down a request, Burton Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Adrian chuckled, thinking about his father. His father had been against placing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows 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. He knew his father's days were long gone and new technology was very important for the business, like having Qualcomm to reduce communication time for bills of lading.

 

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

 

He wondered about factoring - was this the answer for him? 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. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Now it was time for Adrian to do his homework. Adrian had heard that there were companies that charged for same day money transfers and would only advance a percentage of the money owed to your company while holding the rest in a private account if they didn�t get their bill payment within 60 or so days. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

But it turned out to be quite easy. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. 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. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. He was more than happy with the figures he was offered in percentage terms on the freight bills. It sounded like a great scheme to him.

 

It was really refreshing dealing with the factoring people. They were more personable than those loan managers at the bank. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies 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 Adrian because he and his father had created a very strong and loyal list of clientele over the years. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients wouldn�t think poorly of Burton 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, Adrian stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. With the capabilities of this new cash flow, Adrian could actually expand Burton Trucking Company further across the country and perhaps even go international into Canada. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

"

 

 

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Trucking Factoring  Articles

"

�So, this is not a loan?� Ramon Myers asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Ramon smiled at him, shaking her head.�No, not exactly,� she stated.Ramon was the owner of a small trucking company which had fallen on some hard times recently. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Richard. His company was called Walters Trucking, named after both of his grandfathers, Corey and Ray. Both of these men had been very hardworking and had set a great example for Richard.Six months ago disaster struck Richard's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. The financial security of Richard'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.Ramon was an excellent business man, and he certainly hadn't done anything wrong. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.That�s where the woman across the desk came in. Her name was Irene and she worked for a factoring company. Ramon had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.She sat there now, and explained. �It�s not a loan, we purchase your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. This is a win-win situation: we 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.Ramon nodded. It sounded good to him, almost too good.Irene laughed. �You look like you don�t believe me,� she chuckled.�Oh no, I do: it just sounds too good to be true. I thought I was going to lose my company.�Irene nodded. �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 what we�re here for.""Well, I'm very grateful that you came to see me today.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� Irene said with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.

 

Ramon completed the form, with Irene offering advice as needed.

 

The completed profile gave Irene and her company all the information they needed on Richard'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 Ramon completed his form, Irene listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Irene took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Richard's hand. He stood before they shook as well, and then smiled. Ramon walked Irene to the door where they said 'Goodbye', then he went back into his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He shut his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. But now, after speaking to Irene and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.All those long, sleepless nights. The sudden panic attacks, not matter where he was. He could feel it all fading away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was there, he was on the right path, and he was working to make things right.His mind wandered back to the very beginning, when he first started his business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been really successful. Offering home cooking in his own hometown, his business had really prospered.But it wasn't what he really wanted to do. His passion didn�t lie with the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took half a year off, and in that time he thought to start Walters Trucking. So he did it. 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 nearing fifty. He was concerned that he just did not have the energy left to try and save the business. 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 it seemed as though he would not have to - all because of Factoring. Ramon opened his eyes, sat forward, turned his computer on. 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 Corporations Work with Factoring Companies.

 

As the owner of your own establishment, you may well be much more than conscious already of the hardship in making sure that capital issues do not become a problem down the line. After all, the toughest thing that can potentially transpire for your enterprise is to find yourself dragged in a long and challenging condition that leaves you forever searching for the finances you need to have on an recurring basis.

 

For virtually any firm in this scenario, the concern can come for waiting for work to clear up and actually be settled into your account. Invoices, checks, and the like can take a while to actually to be taken care of which could leave you with temporary capital dilemmas. The good news is, there are opportunities out there for businesses to consider-- and one of these is factoring companies.

 

Factoring agencies will, in trade for your bill of sales, supply you with the resources asap in order that you do not need to stress over the waiting time frame which could make paying the expenses and acquiring toolsmore tough. With this sort of system, invoice factoring can come to be extraordinarily beneficial for countless businesses who ought to avoid a money lure which they have found themselves in.

 

For the reason that, depending on the volume of the work, it can take up to 60 days for many business enterprises to get paid out then it is important to take care of your own back and definitely not leave yourself money short to pay the expenses. After all, how many business enterprises possess two months income just lying there to address all their bills until they earn?

 

This is specifically true of trucking firms. They have the tendency to take care of bunches of invoices which means a notable quantity of collection period entails business owner themselves. Trying to get paid off promptly can develop into an unbelievable difficulty and this is precisely why you utilize trucking factoring firms who are thrilled to help out truckers specifically.

 

As most of us recognize, trucking is an remarkably huge market with a lot of companies out there employing hundreds of vehicle drivers. However, numerous of these drivers land up in income issues because they are still anticipating work from six weeks in the past to actually compensate them. When this is the case for a trucking organization, choosing factoring agencies for reinforcement could be the very best option left.

 

This indicates that a truck company can compensate the salaries of the personnel, keep all the cars refilled with gas and continue to go up, evolve and expand without constantly waiting for the money which is taking too long to come in. Trucking Businesses running without a factoring system established are leaving themselves at notable hazard, as rivals cash out fast and carry on to expand.

 

There's genuinely almost nothing to be troubled about when it comes to employing a Factoring agency-- they usually are not like a banking company or someone who is going to leave you with a massive pile of personal debt to repay. You give them legitimate invoices from work you have already wrapped up , you are only speeding up the payment system.

 

In the Usa, where trucking agencies thrive, factoring providers are not considered taking on loan in any capacity. This private agreement then makes it possible for both groups to benefit and indulge in a good future-- it gives the factoring firm a secured asset of earnings to put into the list and it supplies the trucking firm the required funds that they sweated to obtain.

 

The trucking company gives their accounts to the factoring enterprise. The trucking factoring business then acquire the payment amounts from the trucking company's customers. Factoring has been all around for hundreds of years and has been used for several years by a lot of various industries-- but none exceeding so than truckers. While you may lose out on a small part of the money, something like 1-3 % depending upon who you collaborate with, it implies that you are receiving the resources today and can actually start off setting the money to perform.

 

After all, an IOU or an invoice is certainly not going to fund costs, is it? For trucking agencies when the money can be very good one day and gone the next, it is up to the drivers to work sensibly and to ensure they are leaving themselves with a significant quantity of time and money to get through the week up until they are compensated once more.

 

So the next time your trucking company is having some temporary capital issues and you are spending a bit too much time chasing sluggish paying customers, why not start looking at employing a factoring businesses as a means to get your money and give yourself a more worry-free future in the eyes of your trucking staff and your bank balance?

 

 

 

 

 

 

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Traditional Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. These loans can be a life-saver, but they're not always available to every business. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

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 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. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

2. There's no collateral required. Another 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. 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 not only are you relieved of those monthly loan payments, but you also do not have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

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