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The Company Who Won the Prize For - Our Truck Factoring Companies Can Give
Your Trucking Company The Cash You Need

businessfinanceresource.org

freight factoring companies for brokers

trucking invoice factoring companies

trucking invoice factoring

trucking invoice factoring companies

Small truck companies, particularly those who have actually not been around for really long, will frequently find it tough to secure a loan. Banks are frequently reluctant to provide cash to companies that do not have a lot of income and possessions. They also desire evidence of the viability of a company and thus require that most operations, specifically little ones, been around for a specific quantity of time before they want to turn over any cash. Due to the fact that of this, a medium-size company frequently has a couple of money generating options when needs emerge. One choice available, but frequently neglected, is receivable Financing. This is an excellent method for a small business to obtain money.

 

 

 

 

 

 

 

The Company Who Won the Prize For - Select A Freight�Invoice Factoring Company  Instead Of A Traditional Bank Financing

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

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

Money flow does not have to be a problem any ever more. Do not be deceived -- banks are not the only places you can get financing. Other options are offered and you do not have to borrow money. Exactly what is trucking factoring ? One solution is called trucking factoring. Truck Factoring is the process of selling accounts receivable to an investor instead of waiting to gather the money from the customer. Oh, the Irony- Truck factoring has an ironic difference: It is the financial foundation of numerous of America's most successful businesses. Why is this ironic ? Since trucking factoring is not taught in business colleges, is rarely mentioned in business strategies and is fairly unknown to the majority of most of American company people.

Yet it is a financial process that releases up billions of dollars every year, allowing thousands of companies to grow and succeed. Truck Factoring has actually been around for countless years. Receivable Financing Companies are investors 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 customer has agreed pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business deals, a big percentage of the retail business uses a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail transactions. Utilizing the purest definition of the word, these big consumer finance companies are really simply large Truck Factoring Businesses of customer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The shop makes money practically immediately, even though you do not pay until you are prepared.

For this service, the charge card company charges Sears a fee (typical common normal charges vary from two to four percent of the sale). The Benefits Commercial Factoring can provide many advantages to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on a product that has actually already been provided, a business can factor (sell) its receivables for money at a little discount off the amount of the invoice. Payroll, advertising efforts, and working capital are simply a few of the company requirements that can be met with instant  money.

Truck Factoring offers the ways for a manufacturer to renew stock and make 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 tool for manufacturers: Almost any kind company can take advantage of Receivable Loan Financing. Typically, 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 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 offer that invoice for the money to meet those responsibilities. Using trucking factoring companies is a quick and easy procedure. The factor purchases the invoice at a price cut, usually a few portion points less than the stated value of the invoice.

 

 

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irvine-factoring-companies

 

The United states Truck Organization
states that there are about
200,000 workers with truck
businesses and
276,000 personal service providers trucking
firms accredited to
run in the U.S. that transported,
according to their newest listings of millions of
products, supplies and
standard materials .
There are several usual
providers either going solo or in
teams on our country
roadways carrying these
crucial products to our
shops, manufacturing facilities and ports.

And freight factoring
corporations service
numerous of them and offer their
factoring facilities
nationallycounting
including the following states.

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

 

"

Irvine is an affluent suburban city in Orange County, California, United States. It is a planned city, mainly developed by the Irvine Company since the 1960s. Formally incorporated on December 28, 1971, the 66 square miles (170 km2) city has a population of 212,375 as of the 2010 census; the California Department of Finance estimates its 2013 population to be 223,729. It has annexed in the past an undeveloped area to the north, and has also annexed the former El Toro Marine Corps Air Station, most of which is planned to be converted into the Orange County Great Park. The city's mission statement is ""to create and maintain a community where people can live, work, and play in an environment that is safe, vibrant, and aesthetically pleasing"".Because Irvine is home to very good public schools, a large number of jobs requiring a skilled workforce, and residential housing, Irvine was chosen in 2008 by CNNMoney.com as the fourth best place to live in the United States. In 2012, it was ranked in sixth place. In September 2011, listed Irvine as the 5th best city in the US. In June 2010, the Federal Bureau of Investigation reported that Irvine had the lowest violent crime rate among cities in the United States with populations of more than 100,000, and in August 2008 the Census Bureau ranked Irvine as having the seventh highest median income among cities in the United States with populations of more than 65,000. In 2014, Irvine was named the best-run city in the U.S. by 24/7 Wall Street. . Irvine is also home to a number of corporations, particularly in the technology and semiconductor sectors.Irvine's tourism information is coordinated through the Destination Irvine program run by the Chamber of Commerce. The program provides information on Irvine as a place to vacation and as a destination for meetings, events and other business initiatives. Irvine has been rated one of the top cities for start-up businesses and its strong, fast-growing economy helped place Orange County as one of the top ten fastest growing job markets.Irvine is also used as a location for film projects. The city government grants free or low-cost filming permits and offers location information to prospective productions.

 

"

 

Watch Our Factoring YouTube Videos 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:

If you're like most drivers, you're looking for a better company in trucking that might be offering the best jobs in terms of pay, freight, and hometime ' not to mention benefits or a sign on bonus. We've got all of our clients listed based on the states where they're hiring, so you can quickly find the best job in your home state. You'll see the very best nationwide trucking companies that have positions available.

 

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

 

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

 

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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

 

 

"

Garrett Truck and Haul has been in 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 heady times from 2002 to 2007, Garrett was a top rated accounts receivable mastermind of the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. 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

 

. Worse still, it was noticed by Garrett 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. And as spring turmed to summer and summer into the early days of fall, Fernando Torres, CEO of Garrett 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 things different, or wrong, when it came to collecting overdue accounts? When checking his bookkeeper's records this was definitely not the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. They had just gone home.This current state-of-affairs was causing Fernando Torres 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. In the evenings he would discuss his concerns with his wife, Nellie, and still find no relief from the worry and frustration.

 

""Lin, I have a really bad feeling,"" he would say with deep woe.""What could you do differently?"" she would say.Fernando would stare off for a moment and then close eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them on the road, delivering good to all his loyal customers. But 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 know what it is,"" said Fernando. ""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 Nellie 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'.""Fernando 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 Fernando walked into his office with a spring in his step, determined to call each and every client who owed money to Garrett Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Fernando knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. 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 Fernando was realising just how much trouble he was in.Poor Fernando 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.

 

""Fernando, can I have a word?"" she queried, standing in the doorway.

 

""Sure thing Amanda, come on in."" Fernando leaned back in his chair and looked expectantly at Amandaerely.""Well Fernando, this afternoon I did some research, trying to work out how we are going to get out of this mess."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard the word factoring?"" Amandaerley asked.""It sounds vaguely familiar. What is it?"" he said.""Well,"" she began, ""It�s actually quite simple really.

 

Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Fernando 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,� Fernando 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. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

The company will advise us the cost to purchase factoring for our company's accounts receivable. The funding commences once we�ve arrived at an agreement.�Leaning forward, Fernando studied the documents very closely.""I do not know, Amanda - it just sounds too good to be true"", Fernando said quietly.""Now, now, I know, I thought the same thing. But think about it, Fernando: they've guaranteed that experts will do all the paperwork, and that will free us up to do what we should be doing - focusing on our customers in good standing, and that kind of stuff. And they're flexible Fernando,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" he asked.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. Apparently they can figure this all out in two to four days.

 

""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" said Fernando.Fernando took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Fernando thought about this and agreed with Amandaerley. The clients who owed them money were long standing friends and professional resources of Garrett. They did not want to throw away these relationships because they were having trouble paying their bills now. Fernando 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 Amanda, and thankyou."" Amanda nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Fernando keep the shirt on his back, and possibly hers too.Fernando stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. He wondered if there might be other problems freight factoring could help Garrett 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. In fact, Garrett could receive up to fifty-percent cash advances upon load pick-ups. Fernando was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""I must tell Sam the good news,"" muttered Fernando to himself.Fernando's son-in-law, Sam, loved the idea behind Garrett and highly respected his father-in-law for having such great business sense, that two years ago he got his capital together and started his own transportation company. At that time Fernando knew the struggles Sam would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Garrett was struggling then the little guys, like Sam, were going to be in even more trouble. Perhaps the antidote to these problems was in freight factoring, and they were about to find out.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Fernando was beginning to find his way out of the hole his debtors had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They took that time and refocused effort to offering competitive prices in new territories. Fernando 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.

 

"

 

"

Irvine is an affluent suburban city in Orange County, California, United States. It is a planned city, mainly developed by the Irvine Company since the 1960s. Formally incorporated on December 28, 1971, the 66 square miles (170 km2) city has a population of 212,375 as of the 2010 census; the California Department of Finance estimates its 2013 population to be 223,729. It has annexed in the past an undeveloped area to the north, and has also annexed the former El Toro Marine Corps Air Station, most of which is planned to be converted into the Orange County Great Park. The city's mission statement is ""to create and maintain a community where people can live, work, and play in an environment that is safe, vibrant, and aesthetically pleasing"".Because Irvine is home to very good public schools, a large number of jobs requiring a skilled workforce, and residential housing, Irvine was chosen in 2008 by CNNMoney.com as the fourth best place to live in the United States. In 2012, it was ranked in sixth place. In September 2011, listed Irvine as the 5th best city in the US. In June 2010, the Federal Bureau of Investigation reported that Irvine had the lowest violent crime rate among cities in the United States with populations of more than 100,000, and in August 2008 the Census Bureau ranked Irvine as having the seventh highest median income among cities in the United States with populations of more than 65,000. In 2014, Irvine was named the best-run city in the U.S. by 24/7 Wall Street. . Irvine is also home to a number of corporations, particularly in the technology and semiconductor sectors.Irvine's tourism information is coordinated through the Destination Irvine program run by the Chamber of Commerce. The program provides information on Irvine as a place to vacation and as a destination for meetings, events and other business initiatives. Irvine has been rated one of the top cities for start-up businesses and its strong, fast-growing economy helped place Orange County as one of the top ten fastest growing job markets.Irvine is also used as a location for film projects. The city government grants free or low-cost filming permits and offers location information to prospective productions.

 

"

 

More Trucking Factoring Companies Story Articles

"

Factoring in the Future of a Trucking Business: A Story The phone was ringing on his desk, and Duane Banks 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. Banks Trucking Company was at a turning point of growth and Duane had to decide if signing with a factoring company was the right way forward.

 

Duane�s father had started as an owner-operator and had grown Banks 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 Duane�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. Now the company was solely in Duane�s hands and he wanted to live to see it in better shape for his sons.

 

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

 

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

 

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

 

He wondered about factoring - was this the answer for him? If he was being honest, he did not really understand how it all worked. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Now it was time for Duane 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. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly 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. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He didn�t mind signing an exclusive contract. 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 sounded like a great scheme to him.

 

It was really refreshing dealing with the factoring people. They were more personable than those loan managers at the bank. 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. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Duane because he and his father had created a very strong and loyal list of clientele over the years. So he knew they would understand when the factoring company contacted them for the invoices. His clients would not have any problems, nor would they think poorly of Banks Trucking, because the factoring companies handle themselves in such a polite and professional manner, similar to the way his father had managed the business in the past.

 

Duane stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. 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, Duane could actually expand Banks Trucking Company further across the country and perhaps even go international into Canada. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

"

 

 

View Our Truck Factoring Companies Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So, this is not a loan?� asked Allen Hall, reclining back into his chair and crossing his legs. The woman sitting across the desk from Allen smiled at him, shaking her head.�No, not exactly,� she said.Allen was the owner of a small trucking company which had fallen on some hard times recently. Trucking could be a profitable business, and for a little under a decade, it had been for Kevin. His company was called Morales Trucking, named after both of his grandfathers, Sean and Barry. Both of these men had been very hardworking and had set a great example for Kevin.Disaster had struck half a year ago, when two trucks in Kevin�s fifteen truck fleet went down. One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. The financial security of Kevin's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.A big problem a lot of trucking companies came across was how bills were paid in the industry. Waiting a month or longer for bills to be paid was quite normal. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Allen 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 Gertrude and she worked for a factoring company. Allen had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.She sat there now, and explained. �It�s not a loan, we purchase your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. 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.Allen agreed. It sounded perfect - perhaps too good?.Gertrude laughed. �I'm not sure that you believe me,� she chuckled.�No, I do, I just think it sounds a bit too good to be true. I actually thought I might end up losing my business.�Gertrude 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 why we do what we do.""In any case, thank you for coming to see me.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� Gertrude said with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Allen filled the form out, with Gertrude available to help him if he needed it. The completed profile gave Gertrude and her company all the information they needed on Kevin'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 Allen filled out his form, Gertrude was pretty sure he was a perfect candidate for factoring.Gertrude took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Kevin's hand. He stood before they shook as well, and then smiled. They said their goodbyes and Allen 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. Talking to Gertrude though, learning about factoring, it felt like a weight had been lifted from his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.The long nights, where he couldn�t sleep. The terrifying panic attacks that occurred regardless of where he was. He could feel it all fading away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.His mind wandered back to the very beginning, when he first started his business. At twenty-two and straight out of school he had opened a restaurant. It had been really successful. Home cooking in his hometown, and he had done very well.But he had gotten bored. He wasn't passionate about the food industry. He thought long and hard, and then he decided to sell the restaurant. He took half a year off, and in that time he thought to start Morales Trucking. And that's exactly what he did. Once again he built a company from the ground up. The business had been an instant success.And then the trucks went down, and his success looked to be in flux. He was nearing fifty. He was concerned that he just did not have the energy left to try and save the business. But he couldn�t give up. The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He did not want to quit - both for himself and for his staff members.And now it seemed as though he would not have to - all because of Factoring. Kevin's eyes opened, he sat forward in his chair and turned on his computer. 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 key reasons why Trucking Corporations Make use of Factoring Companies.

 

As the manager of your own business, you may likely be more than mindful already of the hardship in making certain that cash flow issues do not become a difficulty down the line. Anyway, the most terrible thing that can possibly happen for your establishment is to find yourself dragged in a long and troublesome predicament that leaves you forever trying to find the finances you really need on an on-going basis.

 

For any sort of business enterprise in this situation, the challenge can come for waiting for work to clear up and actually be settled into your statement. Invoices, checks, and the like can take a long time to actually to beprocessed which can easily leave you with short-term cash flow difficulties. Luckily, there are opportunities out there for businesses to delve into-- and one of these is factoring agencies.

 

Factoring companies will, in substitution for your invoices, give you with the funds now to ensure that you do not need to worry about the lingering time frame that could make paying out the bills and obtaining materialsmore tough. With this sort of setup, invoice factoring can end up being tremendously useful for numerous establishments who need to avoid a money trap which they have gotten themselves in.

 

For the reason that, basing on the volume of the work, it can take up to 60 days for several firms to get paid then it is critical to cover your own back and certainly not leave yourself funds short to settle the monthly bills. After all, how many enterprises have two months cash flow just occupying there to deal with all their costs till they get paid?

 

This is most notably true of truck establishments. They often deal with lots of statements which means a notable volume of collection time involves company owner themselves. Seeking to get paid in time can develop into an unbelievable struggle and this is the key reasons why you employ trucking factoring providers who are delighted to help out truckers exclusively.

 

As all of us recognize, trucking is an amazingly massive field with a lot of organizations out there employing hundreds of drivers. Regrettably, plenty of these drivers wind up in money difficulties considering that they are still expecting work from six weeks previously to actually pay them. When this is the scenario for a truck organization, turning to factoring companies for solutions might be the very best choice left.

 

This implies that a truck organization can pay off the salaries of the work force, keep all the vehicles topped off with fuel and continue to go up, evolve and expand without constantly waiting for the resources which is taking too long to come in. Trucking Businesses working without a factoring program applied are leaving themselves at significant threat, as contenders cash out rapidly and continue to broaden.

 

There's genuinely nothing at all to be distressed about when it comes to using a Factoring firm-- they are not like a bank or an individual who is going to leave you with a considerable pile of personal debt to pay back. You give them genuine invoices from work you have already finalized , you are just speeding up the payment process.

 

In the United States, where trucking firms survive, factoring firms are not considered getting a loan in any capacity. This private settlement then allows both groups to profit and enjoy a worry-free future-- it provides the factoring provider a guaranteed asset of earnings to add to the list and it provides the trucking firm the required money that they sweated to get.

 

The trucking establishment bestows their statements to the factoring agency. The trucking factoring provider then acquire the payments from the trucking company's clients. Factoring has beenaround for centuries and has been utilized for several years by several varied business-- but none more so than truckers. While you may well lose out on a small part of the money, something like 1-3 % depending upon who you team up with, it implies that you are getting the resources today and can actually start off setting the resources to do work.

 

Anyway, an IOU or an invoice is not going to finance spendings, is it? For trucking companies when the resources can be excellent one day and gone the next, it is up to the vehicle drivers to work sensibly and to make certain they are leaving themselves with a substantial quantity of time and money to get through the week up until they are compensated again.

 

So the next instance your trucking company is enduring some temporary capital challenges and you are spending a bit too much time chasing inactive paying clienteles, why not begin thinking of using a factoring businesses as a manner to get your money and give yourself a more at ease future in the eyes of your trucking crew and your bank difference?

 

 

 

 

 

 

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Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. While these loans are handy they are not available to every business. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not 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 money you can receive is based on the amount of money you have earned and the accounts receivable you are willing 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

 

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. You will not Incur Debt. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

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

 

3. Receive Your Money Faster. 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. With a bank loan interest continues to build, and this has to be paid the whole time you have a business loan; however with a Trucking Factoring company there is no interest - they take it right off the top by deducting it from the total amount of receivable accounts. So 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 from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a 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. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very efficient at debt collecting, and this frees up your valuable time to devote to running your company.

 

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

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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