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How to Get Cash And Grow Your Company - Our Receivable Loan Company Can Give
Your Truck Company The Money You Need

smallbusinessfactoring.org

trucking invoice factoring companies

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Small truck companies, especially those who have actually not been in existence for very long, will frequently find it tough to protect a loan. Banks are often hesitant to provide cash to businesses that do not have a lot of income and possessions. They also desire proof of the viability of a company and therefore need that many operations, especially small ones, be in business for a certain quantity of time before they are prepared to turn over any cash. Because of this, a small company frequently has a couple of money generating alternatives when needs emerge. One choice available, but typically overlooked, is receivable Financing. This is an exceptional means for a medium-size company to obtain cash.

 

 

 

 

 

 

 

Thousands Now Play Who Never Thought They Could - Pick An Invoice Factoring Company Instead Of A Regular Bank Financing

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

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

Cash flow does not have to be a problem any 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. What is truck factoring ? One solution is called trucking factoring. Truck Factoring is the procedure of offering accounts receivable to an investor rather than waiting to collect the money from the customer. Oh, the Irony- Trucking factoring has a paradoxical distinction: It is the monetary foundation of numerous of America's most effective companies. Why is this ironic ? Because truck factoring is not taught in business colleges, is seldom discussed in company plans and is fairly unidentified to bulk of most of American company individuals.

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

For this service, the credit card company charges Sears a fee (typical common normal fees vary from two to 4 percent of the sale). The Advantages Invoice Factoring can provide numerous advantages to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on an item that has actually currently been provided, a business can factor (sell) its receivables for money at a small discount off the amount of the invoice. Payroll, marketing efforts, and working capital are just a few of the business needs that can be met with instant  money.

Receivable Funding provides the ways for a manufacturer to replenish stock and make more products to offer: There is no longer a need to await for earlier sales to be paid. Receivable Loan Financing is not simply a money management device for producers: Almost any kind company can take advantage of Accounts Receivable Factoring. Generally, a business that extends credit will have 10 to 20 percent of its yearly sales tied up in invoices at any given time. Think for a moment about how much is bound in 60 days' worth of invoices: You can not pay the power bill or this week s payroll with a customer s invoice, but you can offer that invoice for the money to meet those responsibilities. Using truck factoring companies is a quick and easy procedure. The factor buys the invoice at a discount, usually a few portion points less than the face value of the invoice.

 

 

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columbus-factoring-companies

 

The American Transportation Organization
specifies that there are about
195,000 employees with truck
firms and
300,000 personal service providers trucking
companies licensed to
run in the United States that transported,
according to their latest data of millions
items, supplies and
basic products .
There are a number of typical
carriers either going solo or in
teams on our country
roadways transporting these
vital products to our
shops, factories and harbors.

Furthermore freight invoice factoring
firms help
countless of them and offer their
factoring services
nationwideincluding
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

 

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Columbus has a generally strong and diverse economy based on education, insurance, banking, fashion, defense, aviation, food, logistics, steel, energy, medical research, health care, hospitality, retail, and technology. Overall, it was ranked as one of the top 10 best big cities in the country in 2010, according to Relocate America, a real estate research firm. ranked Columbus and its metro area as the No. 7 best place in the country to operate a business in 2008. In 2012, Magazine ranked the city as the best city for working moms. In 2007, the city was ranked No. 3 in the United States by fDi magazine for ""Cities of the Future"", and No. 4 for most business-friendly in the country. Columbus was ranked as the seventh strongest economy in the United States in 2006, and the best in Ohio, according to Corp. In 2011, the Columbus metropolitan area's GDP was $94.7 billion, up from $90 billion in 2009, up from $85.5 billion in 2006, $75.43 billion in 2005, and $69.98 billion in 2001. SERS building, downtownDuring the recession beginning in late 2007, Columbus' economy was not impacted as much as the rest of the country, due to decades of diversification work by long-time corporate residents, business leaders, and political leaders. The current administration of mayor has continued this work, although the city faced financial turmoil and had to increase taxes, due in part to alleged fiscal mismanagement. Because Columbus is the state capital, there is a large government presence in the city. Including city, county, state, and federal employers, government jobs provide the largest single source of employment within Columbus.In 2013, the city had four corporations named to the U.S. Fortune 500 list: located in suburban Dublin. Other major employers in the area include numerous schools (for example, The Ohio State University) and hospitals, hi-tech research and development including the in Columbus. Major foreign corporations operating or with divisions in the city include .

 

"

 

View Our Freight Factoring YouTube Videos For More Information

 

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

Click below to find Trucking Companies in the United States:

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

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

 

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.

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

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

 

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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.

 

 

"

Since the mid 1980s Diaz Truck & Haul have been successfully running their freight business. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the heady times from 2002 to 2007, Diaz 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. The money was flowing, and times were great.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed down. And worse yet, Diaz 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, Jimmy Harper, CEO of Diaz felt a chill go down his spine whenever he would look at the weekly A/R reports. The numbers of clients who owed him back debt were growing.He had already been to the administrators to ask what the actual problem was. Were they doing 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. 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 Diaz hadn't gone elsewhere. They had just gone home.To Jimmy Harper the situation looked desperate. 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. After work he would confide in his wife, Emily, and neither were unable to stop the constant worry over the lack of funds.""Lin, I have a really bad feeling,"" he would say with deep woe.""Well, what do you think it is?"" she would say.Jimmy 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 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 know what it is,"" Jimmy said. ""I've relied too long on the profits I receive from invoices alone. For too long I've been allowing our clients to let their accounts become overdue."" Linda could only grab her husband's hand and look at him lovingly, ""it is a hard economy. It might be awhile until things get settled up.

 

""Jimmy knew very well that Emily was only trying to help, but his responsibilities weighed heavily on his shoulders and he knew he had better do something soon to resolve this situation.The following day Jimmy walked into his office with a spring in his step, determined to call each and every client who owed money to Diaz Truck & Haul. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. A waste of time - a waste of money - he had the best intentions, but all the while Jimmy was realising just how much trouble he was in.After a half day of contacting debtors in vain - they dodged his calls or promised to call back at worst or made minimal interest-only payments at best - he was about to throw in the towel when his secretary Roseerley knocked at his door.

 

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

 

""Of course Rose, please come in."" Jimmy leaned back in his chair and looked expectantly at Roseerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Jimmy."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard of factoring?"" she asked.""It does sound vaguely familiar. What is it?"" he said.She began, ""Well, it is really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Jimmy interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""In a nutshell, it is pretty easy. We start by having a professional account manager review our figures and help us set up a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.""Jimmy replied cautiously ""I see - and what happens then?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. 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. We come to an agreement and the funding starts pouring out.�Jimmy was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Rose,"" he said.""Now, now, I know, I thought the same thing. But think about it, Jimmy: they've guaranteed that experts will do all the paperwork, and that will free us up to do what we should be doing - focusing on our customers in good standing, and that kind of stuff. They appear to be very flexible, Jimmy,"" she underlined a paragraph on the paper before him.""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.

 

""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,"" Jimmy said.Jimmy took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Jimmy thought about this and agreed with Roseerley. The customers who were in debt to Diaz Truck & Haul were professional resources of the company, but they were also long-standing friends. Jimmy wasn't prepared to lose these relationships just because they were having financial issues at the moment. Jimmy 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, if he handled these debtors incorrectly, could spell disaster for both of them. He did not want to lose business but he also did not want to lose any more money.""Let me go over this tonight Rose, and thankyou."" Rose nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Jimmy sat behind his desk and looked over the details Rose had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Diaz Truck & Haul with? Running his pencil down the sheet, he noted that the freight factoring company could assist with fuel costs, fuel advances, and fuel discount cards. In fact, Diaz could receive up to fifty-percent cash advances upon load pick-ups. Jimmy 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 Oscar the good news,"" muttered Jimmy to himself.His son-in-law Oscar had liked the idea of Diaz so much and revered his father in law for having such business acumen that only two years before, he had gathered the venture capital to begin his own transportation service company. Jimmy knew then what struggles Oscar would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Diaz was struggling then the little guys, like Oscar, were going to be in even more trouble. But, maybe the answer for both of them was in freight factoring, and Jimmy 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, Jimmy found himself beginning to dig his way out of the hole his delinquent account holders had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They used that time to refocus their efforts in being competitive in new territories. Jimmy recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. If Jimmy hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

"

Columbus has a generally strong and diverse economy based on education, insurance, banking, fashion, defense, aviation, food, logistics, steel, energy, medical research, health care, hospitality, retail, and technology. Overall, it was ranked as one of the top 10 best big cities in the country in 2010, according to Relocate America, a real estate research firm. ranked Columbus and its metro area as the No. 7 best place in the country to operate a business in 2008. In 2012, Magazine ranked the city as the best city for working moms. In 2007, the city was ranked No. 3 in the United States by fDi magazine for ""Cities of the Future"", and No. 4 for most business-friendly in the country. Columbus was ranked as the seventh strongest economy in the United States in 2006, and the best in Ohio, according to Corp. In 2011, the Columbus metropolitan area's GDP was $94.7 billion, up from $90 billion in 2009, up from $85.5 billion in 2006, $75.43 billion in 2005, and $69.98 billion in 2001. SERS building, downtownDuring the recession beginning in late 2007, Columbus' economy was not impacted as much as the rest of the country, due to decades of diversification work by long-time corporate residents, business leaders, and political leaders. The current administration of mayor has continued this work, although the city faced financial turmoil and had to increase taxes, due in part to alleged fiscal mismanagement. Because Columbus is the state capital, there is a large government presence in the city. Including city, county, state, and federal employers, government jobs provide the largest single source of employment within Columbus.In 2013, the city had four corporations named to the U.S. Fortune 500 list: located in suburban Dublin. Other major employers in the area include numerous schools (for example, The Ohio State University) and hospitals, hi-tech research and development including the in Columbus. Major foreign corporations operating or with divisions in the city include .

 

"

 

More Trucking Factoring Companies Story Articles

"

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

 

More than forty years ago Patrick's father had started this business working as an owner-operator and eventually growing Perez Trucking Company into a fifteen trailer fleet. There had been some hard times when it seemed everything was going to go under and even Patrick�s mother strapped herself into a cab to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. But now things were different: the company was in Patrick's hands and he needed to ensure that this business would be left in great shape for his sons.

 

To move Perez 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 all have families and the usual household bills. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. Every time he had to turn down a request, Perez Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Patrick 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?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). 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.

 

Patrick knew he was right in his forward thinking. How would he take Perez Trucking to the next level? And how would he be able to afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

But was factoring the answer? There was a lot he didn�t understand about the process. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Now it was time for Patrick 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! 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?

 

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 was quite happy to sign an exclusive contract. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. Many companies offered a non-recourse factoring program that suited him just fine. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It sounded like a great scheme to him.

 

For Patrick 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. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Patrick 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 Perez 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.

 

Feeling happier now, Patrick stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. He suddenly realized that, with this new cash flow, he could actually expand Perez Trucking Company and who knows, move into Canada, which had always been his dream. His heart felt full knowing his sons wouldn�t have to worry about money because of the right decisions he had made for their trucking business.

 

"

 

 

Watch Our Trucking Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� Andy Sanders asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Andy smiled at him, shaking her head.�No, not exactly,� she stated.Andy 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 Andre. He named his business Bryant Trucking, named after Tracy and Herbert, his two grandfathers. Both of these men had been very hardworking and had set a great example for Andre.Disaster had struck half a year ago, when two trucks in Andre�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 Andre's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Andy had on hand.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

Waiting a month or longer for bills to be paid was quite normal. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Andy wasn�t a bad owner, and he hadn�t messed up. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.And that's why he found himself across the desk from this woman. Her name was Nellie and she worked for a factoring company. Andy 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.Andy nodded. It sounded good to him, almost too good.Nellie laughed. �You look like you don�t believe me,� she chuckled.�Oh no, I do: it just sounds too good to be true. I thought I was going to lose my company.�Nellie smiled, agreeing. �We get that a lot. There's no way we want to see you lose your business. We know how hard you work, and that you've invested everything in your business. We all need help sometimes. 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,� said Nellie with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Andy completed the form, with Nellie offering advice as needed.

 

The profile filled Nellie and her company in on Andre�s company, and would help them determine if he was 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 Andy filled out his form, Nellie was pretty sure he was a perfect candidate for factoring.When the form was done Nellie took it and slid it into her briefcase. She then stood, reached across the desk and shook Andre�s hand. He stood before they shook as well, and then smiled. Andy walked Nellie to the door where they said 'Goodbye', then he went back into his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He shut his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. But now, after speaking to Nellie and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.All those long, sleepless nights. The terrifying panic attacks that occurred regardless of where he was. He could feel it all fading away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was 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 successful. Offering home cooking in his own hometown, his business had really prospered.But he had gotten bored. His passion didn�t lie with 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 Bryant Trucking. And that's exactly what he did. For the second time in his short life he created 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 didn�t think he had it in him, to save this company. 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 didn�t know how to say quit.And now it seemed as though he would not have to - all because of Factoring. Andy opened his eyes, sat forward, turned his computer on. He had lots to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

The key reasons why Trucking Firms Use Factoring Firms.

 

As the owner of your own company, you may perhaps be more than conscious already of the hardship in making sure that capital concerns do not become a difficulty down the line. After all, the most disappointing thing that can quite possibly transpire for your business is to find yourself embroiled in a long and problematic circumstance that leaves you forever trying to find the finances you are in need of on an on-going manner.

 

For virtually any business enterprise in this instance, the concern can come for waiting for work to clear up and actually be provided into your balance. Statements, checks, and the like can take a long time to actually to beprocessed which may leave you with short-term capital issues. Gratefully, there are alternatives out there for firms to delve into-- and one of these is factoring providers.

 

Factoring agencies will, in substitution for your bill of sales, provide you with the cash now so you do not need to fret about the delaying phase which could make paying off the expenses and getting toolsmore hard. With this type of setup, invoice factoring can become tremendously useful for various establishments who need to get out of a cash ploy which they have gotten themselves in.

 

Because, depending on the size of the project, it can take up to 60 days for several business enterprises to get paid then it is critical to cover your own back and certainly not leave yourself funds short to pay the monthly bills. After all, how many companies possess two months earnings just occupying there to deal with all their overheads till they make money?

 

This is primarily correct of trucking companies. They usually deal with bunches of invoices which means a significant amount of collection period entails company owner themselves. Attempting to get paid in time can turn into an unbelievable headache and this is exactly why you employ truck factoring organizations who are glad to help out truckers exclusively.

 

As we all determine, trucking is an remarkably massive field with a lot of firms out there hiring hundreds of operators. Regrettably, numerous of these drivers wind up in finances issues due to the fact that they are still anticipating work from six weeks in the past to actually compensate them. When this is the scenario for a truck firm, choosing factoring firms for support may be the most effective option left.

 

This indicates that a truck business can pay off the wages of the crew, keep all the cars refilled with gas and continue to scale, thrive and expand without constantly waiting for the funds which is taking too prolonged to come in. Trucking Enterprises working without a factoring system applied are leaving themselves at significant danger, as competitors cash out rapidly and go on to expand.

 

There's honestly almost nothing to be worried about when it comes to employing a Factoring agency-- they are not like a bank or an individual who is going to leave you with a massive heap of personal debt to pay back. You give them legitimate invoices from output you have already completed , you are only just speeding the repayment process.

 

In the United States, where trucking agencies grow, factoring firms are not considered accepting loan of in any capacity. This private arrangement then allows both parties to benefit and take joy in a worry-free future-- it provides the factoring agency a guaranteed resource of revenue to include in the list and it offers the trucking firm the required funds that they sweated to obtain.

 

The trucking company presents their invoices to the factoring business. The trucking factoring company then obtain the payment amounts from the trucking company's clients. Factoring has been in existence for centuries and has been employed for decades by lots of diverse markets-- but none exceeding so than truckers. While you might miss out on a small part of the money, something like 1-3 % depending on who you team up with, it signifies that you are getting the money today and can actually start setting the money to perform.

 

After all, an IOU or an invoice is absolutely not going to finance spendings, is it? For trucking enterprises when the finances can be really good one day and gone the next, it is up to the vehicle drivers to work sensibly and to make sure that they are leaving themselves with a considerable measure of time and money to get through the week till they are compensated again.

 

So the next time your trucking establishment is enduring some temporary capital concerns and you are investing too much time chasing inactive paying clients, why not begin looking at employing a factoring businesses as a way to get your money and give yourself a more pleasant future in the eyes of your trucking workers and your bank balance?

 

 

 

 

 

 

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Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. These loans can be a life-saver, but they're not always available to every business. 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. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. 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. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once you have set up Trucking Factoring account it continues as long as you wish it too and the amount of money available to you even can grow as your business grows, giving you the ready cash you need to meet your own obligations.

 

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

 

While not every business can take advantage of Trucking Factoring account financing (you have to have a business that has account receivables) for those that can use this type of financing there are several distinct benefits.

 

1. There is no debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

2. There's no collateral required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This means that it is easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.

 

3. Receive Your Money Faster. Using a Trucking Factoring company means that you'll get the finance quicker. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.

 

4.You receive interest up-front. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you do not have to continue to pay interest as they take it right off the top, deducting it from the total amount of accounts receivable. So not only are you relieved of those monthly loan payments, but you also do not have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. 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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