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Will You Help me Get Money? - Our Receivable Factoring Company Can Provide
Your Trucking Company The Money You Need

businessfinanceresource.org

factoring trucking receivables

factoring truck loads

freight broker factoring companies

factoring transportation brokers

Truck Factoring is helpful for several factors. It allows a truck company to raise cash without getting brand-new financial obligation. While financial obligation is sometimes needed, most freight brokerage would choose to raise cash without borrowing money. Debt is risky, and when it cannot be paid back, assets can be repossessed. If the debt is large enough, it could even force a truck companies out of business.

 

 

 

 

 

 

 

Profits That Lie Hidden In Your Company - Choose A Trucking�Factoring Company  Instead Of A Typical Bank Financing

How to Increase Money Flow Without Loaning -Cash Money flow is among the main reasons businesses fail.

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

Cash flow does not have to be a problem any ever more. Do not be fooled -- banks are not the only locations you can get funding. Other solutions are offered and you do not have to borrow money. What is truck factoring ? One option is called trucking factoring. Trucking Factoring is the process of offering invoices to a financier instead of waiting to gather the cash from the client. Oh, the Irony- Truck factoring has an ironic difference: It is the financial backbone of many of America's most effective companies. Why is this ironic ? Since commercial factoring is not taught in business colleges, is seldom discussed in business strategies and is relatively unidentified to the majority of most of American company people.

Yet it is a monetary process that frees billions of dollars every year, allowing countless companies to grow and prosper. Trucking Factoring has actually been around for countless years. Receivable Loan Funding Businesses are financiers who pay money for the right to receive the future payments on your invoices. An overdue receivable or invoice has value. It is a debt your client has actually to pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business transactions, a big portion of the retail company utilizes a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail deals. Utilizing the purest meaning of the word, these large consumer finance business are really simply large Commercial Factoring Businesses of customer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The store makes money practically immediately, although you do not make payment until you are ready.

For this service, the credit card company charges Sears a charge (typical common normal fees vary from 2 to four percent of the sale). The Benefits Staffing Factoring can offer numerous benefits to cash-hungry companies. Instead of waiting 30, 60, 90 days or longer for payment on a product that has actually already been delivered, a business can factor (sell) its receivables for money at a small price cut 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.

Factoring provides the means for a producer to replenish inventory and make more products to sell: There is no longer a requirement to wait for earlier sales to be paid. FACTORING is not just a cash management tool for producers: Almost any kind business can take advantage of FACTORING. Generally, a business that extends credit will have 10 to 20 percent of its yearly sales tied up in invoices at any given time. Think for a minute about how much is tied up in 60 days' worth of invoices: You can not pay the power expense or today s payroll with a customer s invoice, however you can sell that invoice for the cash to meet those obligations. Using trucking factoring companies is a quick and simple process. The factor buys the invoice at a discount, typically a couple of portion points less than the stated value of the invoice.

 

 

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virginia-beach-factoring-companies

 

The American Trucking Association
mentions that there around
195,000 work with transportation
companies and
300,000 private companies trucking
companies certified to
run in the States that transferred,
according to their most current listings of millions of
products, materials and
basic products .
There are several usual
providers either going solo or in
teams on our country
roads transferring these
crucial items to our
shops, manufacturing facilities and ports.

Also freight bill factoring
corporations support
countless 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

 

"

Virginia Beach is best known for its tourism but the military and agribusiness sectors contribute to the City's economy. The City's economy also contains a large retail component at places such as Lynnhaven Mall. Major companies headquartered in Virginia Beach Virginia Beach was ranked at number 45 on list of best places for business and careers.Tourism produces a large share of Virginia Beach's economy. With an estimated $857 million spent in tourism related industries, 14,900 jobs cater to 2.75 million visitors. City coffers benefit as visitors provide $73 million in revenue. Virginia Beach opened a Convention Center in 2005 which caters to large group meetings and events. Hotels not only line the Oceanfront but also cluster around Virginia Beach Town Center and other parts of the City. Restaurants and entertainment industries also directly benefit from Virginia Beach's tourism.Ecotourism has a large portion of the tourism market in Virginia Beach. There are many eco-adventures companies which offer tours on the land and on the water. Coyotes, foxes and bobcats can be seen inland of Virginia Beach in False Cape State Park. There are tours available to see dolphins in their natural habitat.The Virginia Aquarium & Marine Science Center conducts tours of the coast for bird sightings as well as whales if the season is right. They offer school field trips and overnight adventures into the various surrounding regions with a focus on education. Lessons for surfing, stand up paddling and kayaking are popular in the area. In the summer these programs may even offer dolphin sighting tours.Virginia Beach has a large agribusiness sector which produces $80 million for the city economy. One hundred-seventy-two farms exist in Virginia Beach, mostly below the greenline in the southern portion of the City. Farmers are able to sell their goods and products at the City's Farmer's Market. A VF-41 F-4J over NAS Oceana in the late 1960sVirginia Beach is home to several United States Military bases. These include the United States Navy's NAS Oceana and Training Support Center Hampton Roads, and the Joint Expeditionary Base East located at Cape Henry. Additionally, NAB Little Creek is located mostly within the city of Virginia Beach but carries a Norfolk address.NAS Oceana is the largest employer in Virginia Beach; it was decreed by the 2005 BRAC Commission that NAS Oceana must close unless the city of Virginia Beach condemns houses in areas designated as ""Accident Potential Zones."" This action has never been the position of the United States Navy; indeed, the Navy had not recommended NAS Oceana to the BRAC Commission for potential closure. The issue of closure of NAS Oceana remains unresolved as of May, 2008 [dubious � discuss]Both NAS Oceana and Training Support Center Hampton Roads are considered to be the largest of their respective kind in the world. Furthermore, located in nearby Norfolk is the central hub of the United States Navy's Atlantic Fleet, Norfolk Navy Base.[4

 

"

 

View Our Factoring YouTube Video For More Information

 

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:

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.

 

Click below to find Trucking Companies in the United States:

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

Life of a Truck driver, like many other professionals can be very challenging, rewarding, and frustrating at the same time. �The 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.

 

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

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

 

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

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

 

 

"

Johnston Truck & Haul have been operating their business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the boom times from 2002 to 2007 Johnston 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. The money was flowing, and times were great.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. Worse still, it was noticed by Johnston 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 Johnston, Cecil Thompson, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The numbers of clients who owed him back debt were growing.He had already been to the administrators to ask what the actual problem was. Were they doing something wrong or different when it came to reaching out to delinquent accounts? By his bookkeepers records, this wasn't the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. 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. The had just gone!.This current state-of-affairs was causing Cecil Thompson 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 Kristin and shake his head in frustration.

 

""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""What could you do differently?"" she would ask.Cecil would stare off into the distance, and then slowly close his eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them on the road, delivering good to all his loyal customers. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. What on earth was happening to create the death of his business?""I know what it is,"" Cecil said. ""I've relied too long on the profits I receive from invoices alone. I've let too many of our customers go too long without paying on their bills."" Kristin would look at her husband lovingly, and holding his hand would say 'it is such a harsh economy these days and our clients must be having difficulty meeting their responsibilities'.""Kristin was trying so hard to support her husband in these worrying times, while Cecil was weighed down with the worry of how he was going to handle this situation he found himself in.The following day Cecil walked into his office with a spring in his step, determined to call each and every client who owed money to Johnston 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. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. Wasting money, wasting time - even with the best of intentions, Cecil knew that he was in trouble.

 

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

 

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

 

""Sure thing Patricia, come on in."" Cecil relaxed back into his chair and looked up at Patriciaerley.""Well Cecil, this afternoon I did some research, trying to work out how we are going to get out of this mess."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard of factoring?"" she asked.""It does sound vaguely familiar. What is factoring""? he asked.She began, ""Well, it is really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Cecil interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""In a nutshell, it is pretty easy. We can have an expert account manager review our numbers and help us complete a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It provides a very broad view.""I see,� Cecil 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. This company tells us what the cost will be to purchase factoring for our accounts receivable. Once we arrive at a mutual agreement, the funding begins.�Leaning forward, Cecil studied the documents very closely.""I do not know, Patricia - it just sounds too good to be true"", Cecil said quietly.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Cecil: 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, Cecil,"" she drew a circle around a paragraph on the document before him.""How flexible?"" asked Cecil.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. Apparently they can figure this all out in two to four days.

 

""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. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" Cecil said.He took a deep breath and looked at his secretary with something she recognized as hope.""Precisely�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Cecil took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Johnston Truck & Haul were professional resources of the company, but they were also long-standing friends. Just because they were experiencing difficulties paying their own bills now, Cecil was very concerned about losing these relationships. 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. 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.""Well, let me think about this tonight Patricia, thank you."" Patricia nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Cecil keep the shirt on his back, and possibly hers too.Cecil sat behind his desk and looked over the details Patricia had not mentioned in their meeting. What other issues could freight factoring help Johnston with? With his pencil gliding down the sheet he noticed that the factoring company could help fray the cost of fuel with fuel discount cards and fuel advances. In fact, Johnston could receive up to fifty-percent cash advances upon load pick-ups. Cecil 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 Bradley about this,"" muttered Cecil to himself.His son-in-law Bradley had liked the idea of Johnston 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. Cecil knew then what struggles Bradley would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Johnston was struggling then the little guys, like Bradley, were going to be in even more trouble.

 

But, an antidote may have been found in freight factoring and Cecil was soon to find out.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Cecil found himself beginning to dig his way out of the hole his delinquent account holders had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They took that time and refocused effort to offering competitive prices in new territories. Cecil recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

"

Virginia Beach is best known for its tourism but the military and agribusiness sectors contribute to the City's economy. The City's economy also contains a large retail component at places such as Lynnhaven Mall. Major companies headquartered in Virginia Beach Virginia Beach was ranked at number 45 on list of best places for business and careers.Tourism produces a large share of Virginia Beach's economy. With an estimated $857 million spent in tourism related industries, 14,900 jobs cater to 2.75 million visitors. City coffers benefit as visitors provide $73 million in revenue. Virginia Beach opened a Convention Center in 2005 which caters to large group meetings and events. Hotels not only line the Oceanfront but also cluster around Virginia Beach Town Center and other parts of the City. Restaurants and entertainment industries also directly benefit from Virginia Beach's tourism.Ecotourism has a large portion of the tourism market in Virginia Beach. There are many eco-adventures companies which offer tours on the land and on the water. Coyotes, foxes and bobcats can be seen inland of Virginia Beach in False Cape State Park. There are tours available to see dolphins in their natural habitat.The Virginia Aquarium & Marine Science Center conducts tours of the coast for bird sightings as well as whales if the season is right. They offer school field trips and overnight adventures into the various surrounding regions with a focus on education. Lessons for surfing, stand up paddling and kayaking are popular in the area. In the summer these programs may even offer dolphin sighting tours.Virginia Beach has a large agribusiness sector which produces $80 million for the city economy. One hundred-seventy-two farms exist in Virginia Beach, mostly below the greenline in the southern portion of the City. Farmers are able to sell their goods and products at the City's Farmer's Market. A VF-41 F-4J over NAS Oceana in the late 1960sVirginia Beach is home to several United States Military bases. These include the United States Navy's NAS Oceana and Training Support Center Hampton Roads, and the Joint Expeditionary Base East located at Cape Henry. Additionally, NAB Little Creek is located mostly within the city of Virginia Beach but carries a Norfolk address.NAS Oceana is the largest employer in Virginia Beach; it was decreed by the 2005 BRAC Commission that NAS Oceana must close unless the city of Virginia Beach condemns houses in areas designated as ""Accident Potential Zones."" This action has never been the position of the United States Navy; indeed, the Navy had not recommended NAS Oceana to the BRAC Commission for potential closure. The issue of closure of NAS Oceana remains unresolved as of May, 2008 [dubious � discuss]Both NAS Oceana and Training Support Center Hampton Roads are considered to be the largest of their respective kind in the world. Furthermore, located in nearby Norfolk is the central hub of the United States Navy's Atlantic Fleet, Norfolk Navy Base.[4

 

"

 

More Trucking Factoring Companies Story Articles

"

The Future of a Trucking Company, and Factoring The phone was ringing on his desk, and Earl Griffin just sat there letting it ring. His morning coffee cooled and his cigarette smoked away in the tray: Earl is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Griffin Trucking Company had reached a turning point and he now had to make a decision as to whether he should sign up with a factoring company, and indeed if this would be a good or regrettable decision for his business.

 

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

 

To move Griffin Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. His employees needed to be paid. They had families and household bills too. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. He knew that turning down these requests made Griffin Trucking look inefficient and weak in what was currently a strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Earl allowed himself a good hard chuckle. He remembered when his father was totally against installing 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?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). His father days were long gone and technology was actually an important improvement for the business such as having Qualcomm to cut down on fruitless time communicating on the phone for bills of lading.

 

Earl knew he was right in his forward thinking. How would he take Griffin Trucking to the next level? And how would he be able to afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. 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? There was a lot he didn�t understand about the process. 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 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 Earl to do his homework. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge 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?

 

However, it all turned out to be very simple. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He was quite happy to sign an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. 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. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It was good money.

 

For Earl it was quite a relief to be dealing with the factoring company. 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 didn�t worry over his credit and the debt troubles his father had had in the past of the company. Factoring was based on the credit of his customers and on their reliability which worked well for Earl because he and his father had built up good strong relationships over decades with their list of clients. So he knew they would understand when the factoring company contacted them for the invoices. His clients wouldn�t think poorly of Griffin 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, Earl 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. He suddenly realized that, with this new cash flow, he could actually expand Griffin Trucking Company and who knows, move into Canada, which had always been his dream. 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.

 

"

 

 

View Our Freight Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So, this is not a loan?� asked Sean Moore, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she said.Sean 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 Juan. He named his business Reed Trucking, named after Sidney and Philip, his two grandfathers. They had both been hardworking men, and had done a lot to make Sean the same.Six months ago disaster struck Juan'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 Juan'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 Sean had on hand.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

Waiting a month or longer for bills to be paid was quite normal. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Sean was an excellent business man, and he certainly hadn't done anything wrong. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.That�s where the woman across the desk came in. Sean knew she was employed by a Factoring company and that her name was Carmen. Sean 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 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.Sean nodded. It sounded perfect - perhaps too good?.The woman laughed. �I'm not sure that you 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.�Carmen nodded. �We get that a lot. Listen, I�d hate to see you lose your company. You work hard, you�ve put everything you can into it. Sometimes you need help. That�s what we�re here for.""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 Carmen with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Sean completed the form, with Carmen offering advice as needed.

 

The completed profile gave Carmen and her company all the information they needed on Juan'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 businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. As Sean completed his form, Carmen listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Carmen took it and slid it into her briefcase. She then stood, reached across the desk and shook Juan�s hand. He stood before they shook as well, and then smiled. They said their goodbyes and Sean walked her to the door, and then returned to 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 felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. But now, after speaking to Carmen and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.All those long, sleepless nights. The sudden panic attacks, not matter where he was. He could feel it all fading away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was there, he was on the right path, and he was working to make things right.Sean couldn�t help but think back to when he had first started the business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been successful. Home cooking in his hometown, and he had done very well.But it wasn't what he really wanted to do. He wasn't passionate about the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took half a year off, and in that time he thought to start Reed 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 nearing fifty. He was concerned that he just did not have the energy left to try and save the business. But giving up wasn't part of his personality either.

 

Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He didn�t know how to say quit.And now, because of factoring, he was sure he wouldn�t have to. Sean 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

The reason why Truck Companies Work with Factoring Firms.

 

As the manager of your own company, you may likely be more than perceptive already of the difficulty in making certain that capital matters do not become a difficulty down the line. After all, the most disappointing thing that can possibly occur for your company is to find yourself involved in a long and difficult circumstance that leaves you forever trying to find the resources you need on an recurring basis.

 

For any kind of establishment in this scenario, the dilemma can come for waiting for work to lapse and actually be paid out into your bank account. Statements, checks, and the like could take some time to actually to be taken care of which can certainly leave you with short-term capital problems. Thankfully, there are options out there for businesses to explore-- and one of these is factoring companies.

 

Factoring providers will, in trade for your bill of sales, provide you with the cash today so you do not need to stress over the delaying time frame that could make paying off the bills and purchasing materialsmore difficult. With this form of system, invoice factoring can end up being extraordinarily beneficial for countless businesses who need to avoid a money ploy which they have gotten themselves in.

 

Since, depending on the scale of the work, it can take up to 60 days for several firms to get paid then it is significant to blanket your own back and not leave yourself resources short to settle the expenses. After all, how many establishments possess two months cash flow just occupying there to address all their overheads till they get paid?

 

This is most notably correct of trucking enterprises. They usually deal with good deals of invoices which means a considerable quantity of collection time concerns business owner themselves. Striving to get paid in time can eventually become an unbelievable struggle and this is the key reasons why you work with trucking factoring providers who are thrilled to help out truckers specifically.

 

As all of us recognize, trucking is an incredibly enormous business with many organizations out there handling hundreds of drivers. However, many of these drivers end up in money issues for the reason that they are still awaiting work from six weeks back to actually pay them. When this is the situation for a trucking organization, resorting to factoring agencies for solutions maybe the most effective alternative left.

 

This indicates that a trucking corporation can compensate the salaries of the work force, keep all the cars filled with gas and continue to escalate, rise and expand without continually waiting for the funds which is taking too lengthy to come in. Trucking Establishments operating without a factoring system implemented are leaving themselves at substantial danger, as contenders cash out rapidly and proceed to broaden.

 

There's genuinely not much to be stressed about when it comes to utilizing a Factoring establishment-- they usually are not like a financial institution or an individual who is going to leave you with a huge mass of debt to pay back. You give them genuine invoices from output you have already accomplished , you are only speeding the payment process.

 

In the United States, where trucking establishments develop, factoring agencies are not considered borrowing in any capacity. This confidential arrangement then allows both groups to profit and experience a comfortable future-- it provides the factoring company a warranted asset of money to add to the list and it provides the trucking business the needed funds that they worked hard to get.

 

The trucking company bestows their statements to the factoring establishment. The trucking factoring firm then receive the payment amounts from the trucking company's clients. Factoring has been in existence for centuries and has been adopted for decades by several varied markets-- but none much more so than truckers. While you could miss out on a small part of the money, something like 1-3 % depending on who you collaborate with, it implies that you are getting the money today and can actually start off setting the cash to perform.

 

After all, an IOU or an invoice is definitely not going to pay for bills, is it? For trucking establishments when the resources can be really good one day and gone the next, it is up to the drivers to work prudently and to ensure they are leaving themselves with a considerable quantity of time and finance to get through the week until they are paid for once more.

 

So the next moment your trucking business is bearing some momentary cash flow challenges and you are putting in an excessive amount of time chasing slow paying customers, why not begin looking at making use of a factoring businesses as a manner to get your finances and give yourself a more convenient 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. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. 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 give loans, and the money you get from the Trucking Factoring company does not put you in debt. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of 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.

 

Benefits of a Trucking Factoring Company Vs. A 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. There is no 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. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This means that it 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. Using a Trucking Factoring company means that you'll get the finance quicker. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.

 

4.You receive interest 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 main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

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

 

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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

 

New Orleans

Bakersfield

Tampa

Honolulu

Anaheim

Aurora

Santa Ana

St. Louis

Riverside

Corpus Christi

Pittsburgh

Lexington Fayette

Anchorage

Stockton

Cincinnati

St. Paul

Toledo


Newark

Greensboro

Plano

Henderson

Lincoln

Buffalo

Fort Wayne

Jersey

Chula Vista

Orlando

St. Petersburg

Norfolk

Chandler

Laredo

Madison

Durham

Lubbock

Winston Salem

Garland

Glendale

Hialeah

Reno

Baton Rouge

Irvine

Chesapeake

Irving

Scottsdale

North Las Vegas

Fremont

Gilbert town

San Bernardino

Boise

Birmingham

Rochester

Richmond

Spokane

Des Moines

 

 

 

 

 

Philadelphia

 

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