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Don't Even Think About Going To The Bank Without Reading This Report - Our Trucking Factoring Companies Can Give
Your Truck Company The Cash Your Company Needs

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factoring for trucking companies

Medium-Size trucking businesses, especially those who have not been in existence for very long, will often discover it hard to secure a loan. Banks are often reluctant to lend money to businesses that do not have a great deal of earnings and assets. They likewise want proof of the viability of a business and hence require that many operations, especially little ones, be in business for a certain amount of time before they are prepared to turn over any money. Due to the fact that of this, a medium-size business commonly has a couple of cash creating alternatives when needs arise. One choice available, however commonly overlooked, is receivable Financing. This is an outstanding way for a small business to acquire money.

 

 

 

 

 

 

 

The Secret to Being Wealthy - Select A Freight�Factoring Company  Instead Of A Typical Bank Funding

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

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

Money flow does not have to be an issue any ever more. Do not be deceived -- banks are not the only locations you can get financing. Other solutions are offered and you do not have to borrow money. Exactly what is trucking factoring ? One option is called truck factoring. Trucking Factoring is the procedure of selling accounts receivable to a financier instead of waiting to gather the money from the customer. Oh, the Irony- Trucking factoring has an ironic distinction: It is the monetary backbone of many of America's most successful companies. Why is this ironic ? Since receivable funding is not taught in business colleges, is rarely mentioned in business plans and is relatively unknown to the majority of most of American company individuals.

Yet it is a financial process that releases up billions of dollars every year, enabling countless companies to grow and succeed. Receivable Loan Financing has been around for countless years. FACTORING Businesses are financiers who pay cash for the right to receive the future payments on your invoices. An overdue receivable or invoice has value. It is a debt your customer has actually agreed pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business transactions, a large percentage of the retail company uses a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail transactions. Using the purest meaning of the word, these large customer finance business are really just big Factoring Businesses of customer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The shop gets paid almost immediately, even though you do not pay up until you are ready.

For this service, the charge card company charges Sears a charge (typical common normal charges vary from 2 to 4 percent of the sale). The Advantages Trucking Factoring can offer many benefits to cash-hungry business. Instead of waiting 30, 60, 90 days or longer for payment on a product that has currently been delivered, a business can factor (sell) its receivables for cash at a little price cut off the amount of the invoice. Payroll, marketing efforts, and working capital are simply a few of the business requirements that can be satisfied with instant  money.

Truck Factoring provides the ways for a manufacturer to replenish stock and make even more items to offer: There is no longer a need to wait for earlier sales to be paid. Receivable Loan Financing is not simply a cash management device for producers: Almost any type business can benefit from Receivable Loan Funding. Generally, a company 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 exactly how much is tied up in 60 days' worth of invoices: You can not pay the power bill or this week s payroll with a customer s invoice, however you can sell that invoice for the money to satisfy those responsibilities. Using trucking factoring companies is a fast and simple process. The factoring company buys the invoice at a discount, typically a couple of portion points less than the stated value of the invoice.

 

 

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The American Truck Association
specifies that there are about
195,000 work with transportation
companies and
300,000 private service providers trucking
companies accredited to
run in the States that transferred,
according to their latest data of millions
items, supplies and
fundamental products .
There are numerous typical
carriers either going solo or in
teams on our nation
roads transferring these
important items to our
stores, manufacturing facilities and ports.

And trucking factoring
businesses support
countless of them and offer their
receivable loan services
nationwidecomprising
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

 

Long Beach is the seventh-largest city in California and is situated on San Pedro Bay, south of Los Angeles, in Los Angeles County.The town was laid out and settled in 1881 by developer W. E. Willmore, who sold lots on the site as a seaside resort community called Willmore City. It was renamed Long Beach for its 81/2-mile beach in 1884. The city was incorporated in 1888 and reincorporated in 1897.Long Beach is a major industrial port, ranked second-busiest in the U.S. and tenth-busiest in the world. In addition to international trade through the port, high technology has also been an important economic engine for the Long Beach area. Major technology and aerospace corporations such as Gulfstream, Boeing, and Laserfiche have large facilities in Long Beach. Boeing continues to be a top employer, with over 7,100 employees.Tourism is also important to the economy. Major attractions are the RMS Queen Mary, the Aquarium of the Pacific, whale watching tours, and water sports.Long Beach is a city in Los Angeles County in Southern California, on the Pacific coast of the United States. The city is the 36th-largest city in the United States and the seventh-largest in California. As of 2010, its population was 462,257. In addition, Long Beach is the second largest city within Greater Los Angeles Area, after Los Angeles, and a principal city of the Los Angeles-Long Beach-Santa Ana metropolitan area.The city is a dominant maritime center of the United States. The Port of Long Beach is the United States' second busiest container port and one of the world's largest shipping ports. The city also maintains a large oil industry with wells located both underground and offshore. Manufacturing sectors include those in aircraft, car parts, electronic and audiovisual equipment, and home furnishings.though the two cities border each other for several miles on Long Beach's southwestern portion. Long Beach borders Orange County on its southeast edge

 

 

View Our Factoring YouTube Video For More Information

 

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

 

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

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

 

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.

Click below to find Trucking Companies in the United States:

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

Click below to find Trucking Companies in the United States:

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

 

"

Since the mid 1980s Lynch Truck & Haul have been successfully running their freight business. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the heady times from 2002 to 2007, Lynch was a top rated accounts receivable mastermind of the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. Cash was flowing and times were good for all.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed to a crawl

 

. And worse yet, Lynch had noticed during the early part of 2008 that though the bulk of their clients were always on time with payments, the few late-bloomers there were, had seemingly started to spread this illness. And as spring turmed to summer and summer into the early days of fall, Jessie Stewart, CEO of Lynch felt a chill go down his spine whenever he would look at the weekly A/R reports. There was a growing list of clients who now owed them back debt.He had gone to his administrators and asked them what the problem had been. Were they doing something wrong or different when it came to reaching out to delinquent accounts? When checking his bookkeeper's records this was definitely not the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Lynch money had jumped ship and decided to leave him holding the bag.

 

. They could not afford to pay him their debt, but they could afford a lesser service, maybe. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Lynch hadn't gone elsewhere. They had just gone home.This current state-of-affairs was causing Jessie Stewart 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 Jackie and shake his head in frustration.

 

""I have a bad feeling, Lin,"" he'd sadly say to his wife.""What could you do differently?"" she would ask.Jessie would stare off into the distance, and then slowly close his eyes. He could see the fleet of trucks he had purchased over the years. He could see them traveling, bringing goods to all of his clients. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What on earth was happening to create the death of his business?""I think I know what it could be,"" said Jessie. ""For way too long I've been relying solely on profits received from invoices. I've let too many of our customers go too long without paying on their bills."" All Jackie 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'.""Jessie knew his wife meant well, but he knew that he was responsible for too many people to sit idly by, waiting for the sun to peak over the clouds.The following day Jessie walked into his office with a spring in his step, determined to call each and every client who owed money to Lynch 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 Jessie was realising just how much trouble he was in.Poor Jessie 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.

 

""Jessie, can I have a word?"" she asked standing in the doorway.

 

""Sure thing Erika, come on in."" Jessie relaxed back into his chair and looked up at Erikaerley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Jessie."" 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?"" Erikaerley asked.""It sounds vaguely familiar. What is it?"" he said.""Well,"" she began, ""It�s actually quite simple really.

 

So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Immediately?"" Jessie interrupted.""Yes, immediately,"" she continued, ""it is actually very simple. 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.""Jessie replied cautiously ""I see - and what happens then?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

This company tells us what the cost will be to purchase factoring for our accounts receivable. We come to an agreement and the funding starts pouring out.�Jessie leaned forward and reviewed the paperwork closely.""It sounds too good to be true, Erika,"" he said.""Yes, I know; that's exactly what I thought at the beginning. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. And they're flexible Jessie,"" she drew a circle around a paragraph on the document before him.""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. It only takes 2 to 4 days for this to be figured out. ""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 Jessie.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.""Jessie took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Lynch Truck & Haul were professional resources of the company, but they were also long-standing friends. They did not want to throw away these relationships because they were having trouble paying their bills now. Jessie 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. That unknown amount of time could create a disaster situation for both of them if he wasn't careful in how these debtors were handled. He did not want to lose business but he also did not want to lose any more money.""Let me go over this tonight Erika, and thankyou."" Erika nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Jessie sat behind his desk and looked over the details Erika had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Lynch Truck & Haul with? With his pencil gliding down the sheet he noticed that the factoring company could help fray the cost of fuel with fuel discount cards and fuel advances. Jessie was surprised: it said that his company could get up to fifty percent cash advances on load pickups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""Well, I'll have to tell George about this,"" Jessie muttered to himself.George is Jessie's son-in-law, and he really admired the ideas behind Lynch, so much so that only two years before he had started his own transportation service business. Jessie knew then what struggles George would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Lynch was struggling then the little guys, like George, were going to be in even more trouble. But, maybe the answer for both of them was in freight factoring, and Jessie was going to find out very soon.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Jessie found himself beginning to dig his way out of the hole his delinquent account holders had created for him.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They took that time and refocused effort to offering competitive prices in new territories. Jessie recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. He probably wouldn't be in business today had he not learned just in time about freight factoring.

 

"

 

Long Beach is the seventh-largest city in California and is situated on San Pedro Bay, south of Los Angeles, in Los Angeles County.The town was laid out and settled in 1881 by developer W. E. Willmore, who sold lots on the site as a seaside resort community called Willmore City. It was renamed Long Beach for its 81/2-mile beach in 1884. The city was incorporated in 1888 and reincorporated in 1897.Long Beach is a major industrial port, ranked second-busiest in the U.S. and tenth-busiest in the world. In addition to international trade through the port, high technology has also been an important economic engine for the Long Beach area. Major technology and aerospace corporations such as Gulfstream, Boeing, and Laserfiche have large facilities in Long Beach. Boeing continues to be a top employer, with over 7,100 employees.Tourism is also important to the economy. Major attractions are the RMS Queen Mary, the Aquarium of the Pacific, whale watching tours, and water sports.Long Beach is a city in Los Angeles County in Southern California, on the Pacific coast of the United States. The city is the 36th-largest city in the United States and the seventh-largest in California. As of 2010, its population was 462,257. In addition, Long Beach is the second largest city within Greater Los Angeles Area, after Los Angeles, and a principal city of the Los Angeles-Long Beach-Santa Ana metropolitan area.The city is a dominant maritime center of the United States. The Port of Long Beach is the United States' second busiest container port and one of the world's largest shipping ports. The city also maintains a large oil industry with wells located both underground and offshore. Manufacturing sectors include those in aircraft, car parts, electronic and audiovisual equipment, and home furnishings.though the two cities border each other for several miles on Long Beach's southwestern portion. Long Beach borders Orange County on its southeast edge

 

 

More Trucking Factoring Companies Story Articles

"

The Future of a Trucking Company, and Factoring The phone was ringing on his desk, and Joshuauaua Gonzalez just sat there letting it ring. He let his morning coffee cool and left his cigarette to ash itself in the tray, because he is trying to make the biggest decision ever for his trucking company. Gonzalez 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.

 

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

 

To move Gonzalez Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. His employees needed to be paid. They had families and household bills too. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. Every time he had to turn down a request, Gonzalez Trucking looked weak in a very strong market.

 

His father would have told him to wait and to take his time adding on new technology. Joshuauaua chuckled, thinking about his father. 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?� 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.

 

Joshuauaua knew he was right in his forward thinking. What would be the next step for Gonzalez Trucking? And how would he be able to afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

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

 

Joshuauaua had to really consider what his next step was going to be. 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! 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 colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. 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. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. Many companies offered a non-recourse factoring program that suited him just fine. 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.

 

For Joshuauaua it was quite a relief to be dealing with the factoring company. They were extremely helpful and more personable than the bank staff. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar for a handout. The factoring companies were not interested in his credit nor the financial problems his father had experienced in the past. Factoring was based on the credit of his customers and on their reliability which worked well for Joshuauaua 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 Gonzalez 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, Joshuauaua stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. With the capabilities of this new cash flow, Joshuauaua could actually expand Gonzalez Trucking Company further across the country and perhaps even go international into Canada. His heart felt full knowing his sons wouldn�t have to worry about money because of the right decisions he had made for their trucking business.

 

"

 

 

View Our Freight Factoring Companies Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� Kenneth Griffin asked as he leaned back in his chair, crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she said.Kenneth Griffin owned a small trucking company, and his business had recently fallen on difficult times. Trucking could be a profitable business, and for a little under a decade, it had been for Guy. He named his business Allen Trucking, named after Darrell and Aaron, his two grandfathers. They had both been hardworking men, and had done a lot to make Kenneth the same.Disaster had struck half a year ago, when two trucks in Guy�s fifteen truck fleet went down. One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. Kenneth depended on his full fleet, and missing two trucks was devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.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.Kenneth wasn�t a bad owner, and he hadn�t messed up. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.That�s where the woman across the desk came in. Her name was Ramona and she worked for a factoring company. He had accidentally come across her company one night when he was working late, searching the internet to see if there was some solution to his financial dilemma.Ramona 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. 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.Kenneth nodded. It sounded perfect - perhaps too good?.Ramona laughed. �You look like you don�t believe me,� she said.�Oh no, I do: it just sounds too good to be true. I thought I was going to lose my company.�Ramona nodded. �Yes, we get a lot of that. 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.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� Ramona said with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Kenneth filled the form out, with Ramona available to help him if he needed it. The completed profile gave Ramona and her company all the information they needed on Guy's business, and with this information they would determine if this business would in fact be suitable for Factoring. Unfortunately, not all companies are. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. Listening as Kenneth filled out his form, Ramona was pretty sure he was a perfect candidate for factoring.When the form was done Ramona took it and slid it into her briefcase. She then stood, reached across the desk and shook Guy�s hand. He also stood up, and they smiled at each other. They said their goodbyes and Kenneth walked her to the door, and then returned to 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 leaned back and closed his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. But now, after speaking to Ramona 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 terrifying panic attacks that occurred regardless of where he was. Already he could feel all the stress start to drain away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was there, he was on the right path, and he was working to make things right.His mind wandered back to the very beginning, when he first started his business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been successful. Offering home cooking in his own hometown, his business had really prospered.But he had gotten bored. He wasn't passionate about the food industry. He thought long and hard, and then he decided to sell the restaurant. He took six months off, and during that time he decided to create Allen 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 about to turn fifty. He didn�t think he had it in him, to save this company. But he couldn�t give up. Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He did not want to quit - both for himself and for his staff members.And now, because of factoring, he was sure he wouldn�t have to. Guy's eyes opened, he sat forward in his chair and turned on his computer. He had lots 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 key reasons why Trucking Agencies Utilize Factoring Firms.

 

As the owner of your own company, you may well be much more than perceptive already of the challenge in making certain that cash flow matters do not become a dilemma down the line. After all, the most disappointing thing that can possibly transpire for your business is to find yourself embroiled in a long and difficult situation that leaves you forever trying to find the funds you necessitate on an on-going basis.

 

For pretty much any establishment in this instance, the issue can come for waiting for work to clear up and actually be compensated into your statement. Statements, checks, and the like can take some time to actually to beprocessed which may leave you with temporary cash flow difficulties. Fortunately, there are approaches out there for businesses to consider-- and among these is factoring companies.

 

Factoring agencies will, in exchange for your accounts, grant you with the funds immediately to make sure that you do not have to fret about the lingering duration which could make paying off the expenses and obtaining toolsmore troublesome. With this style of arrangement, invoice factoring can end up being incredibly valuable for many firms who need to avoid a money ploy which they have found themselves in.

 

Considering that, depending upon the volume of the project, it can take up to 60 days for several firms to get compensated then it is necessary to cover up your own back and certainly not leave yourself funds short to settle the expenses. After all, how many establishments have two months cash flow just lying there to deal with all their expenses until they make money?

 

This is most notably true of truck enterprises. They often handle good deals of statements which means a significant volume of collection period concerns business owner themselves. Striving to get paid out in time can end up being an unbelievable hassle and this is the key reasons why you make use of trucking factoring firms who are delighted to help out truckers mainly.

 

As we all recognize, trucking is an unbelievably huge market with many agencies out there utilizing hundreds of operators. Regretfully, numerous of these drivers end up in cash predicaments given that they are still awaiting work from six weeks ago to actually pay them. When this is the situation for a trucking organization, turning to factoring companies for solutions could be the most ideal choice left.

 

This signifies that a trucking organization can pay off the salaries of the people, keep all the vehicles refilled with gas and continue to go up, progress and expand without continually waiting for the income which is taking too prolonged to come in. Trucking Enterprises operating without a factoring system used are leaving themselves at critical risk, as competitors cash out quickly and carry on to expand.

 

There's genuinely not a thing to be troubled about when it comes to working with a Factoring firm-- they typically are not like a banking company or somebody who is going to leave you with a substantial heap of liability to pay back. You give them authentic invoices from job you have already completed , you are only just quickening the repayment system.

 

In the United states of America, where truck establishments survive, factoring companies are not considered accepting loan of in any capacity. This private agreement then allows both groups to profit and indulge in a good future-- it gives the factoring company a guaranteed resource of revenue to include in the list and it furnishes the trucking business the needed finances that they worked hard to acquire.

 

The trucking firm presents their statements to the factoring firm. The trucking factoring agency then receive the installment payments from the trucking company's customers. Factoring has beenaround for centuries and has been utilized for long times by many diverse business sectors-- but none exceeding so than truckers. While you may miss out on a small part of the money, something like 1-3 % depending on who you work with, it signifies that you are getting the cash today and can actually start putting the funds to operate.

 

After all, an IOU or an invoice is not actually going to cover spendings, is it? For trucking firms when the income can be fantastic one day and gone the next, it is up to the drivers to work sensibly and to ascertain they are leaving themselves with a considerable amount of time and finance to get through the week until they are paid again.

 

So the next instance your trucking enterprise is enduring some short-term cash flow problems and you are shelling out excessive time chasing inactive paying clienteles, why not begin taking into consideration making use of a factoring companies as a method to get your money and give yourself a more worry-free future in the eyes of your trucking team and your bank difference?

 

 

 

 

 

 

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Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. While these loans are handy they are not available to every business. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Once the loan is paid off, you can then apply for another loan if the need arises.

 

Trucking Factoring Companies

 

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

 

What Are The Benefits Of A Trucking Factoring Company Versus A Traditional Bank Loan?

 

Not every business can benefit from Trucking Factoring account financing because you have to have a business with accounts receivable, however there are many benefits for those who can access this type of finance.

 

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. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

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

 

3. Receive Your Money Faster. Using a Trucking Factoring company means that you'll get the finance quicker. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.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 you do not have to worry about monthly loan repayments, and you do not have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

As you can see, 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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Factoring Companies by City

New York City

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Boston


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Colorado Springs


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