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How To Get More Profit From Your Receivables - Our Receivable Loan Company Can Provide
Your Freight Company The Cash Your Company Needs

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Trucking Factoring is helpful for a number of factors. It enables a trucking company to raise money without acquiring brand-new financial obligation. While debt is sometimes essential, the majority of freight broker firm would prefer to raise money without borrowing money. Financial obligation is high-risk, and when it cannot be repaid, possessions can be repossessed. If the debt is big enough, it might even require a truck companies out of business.

 

 

 

 

 

 

 

This is Marie Antoinette - Escaping - Choose An Accounts Receivable Factoring Company Instead Of A Regular Bank Financing

How to Increase Money Flow Without Borrowing -Cash Money flow is among the primary reasons companies fail.

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

Money flow does not have to be a problem any more. Do not be fooled -- banks are not the only locations you can get financing. Other options are available and you do not have to borrow money. Exactly what is truck factoring ? One option is called truck factoring. Truck Factoring is the procedure of offering accounts receivable to a financier rather than waiting to collect the money from the client. Oh, the Irony- Trucking factoring has an ironic difference: It is the monetary backbone of many of America's most successful businesses. Why is this ironic ? Because truck factoring is not instructed in business colleges, is seldom discussed in company strategies and is relatively unknown to bulk of most of American business individuals.

Yet it is a monetary procedure that frees billions of dollars every year, allowing thousands of businesses to grow and succeed. FACTORING has been around for countless 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 customer has actually to pay in the near future. Factoring Principals--Although factoring offers solely with business-to-business transactions, a big portion of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail transactions. Using the purest meaning of the word, these large consumer finance business are truly simply big Accounts Receivable Factoring Businesses of consumer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The store makes money practically immediately, even though you do not pay until you are ready.

For this service, the charge card business charges Sears a fee (typical common normal fees range from 2 to 4 percent of the sale). The Benefits Factoring can provide numerous advantages to cash-hungry business. Instead of waiting 30, 60, 90 days or longer for payment on an item that has actually already been provided, a business can factor (sell) its receivables for money at a small price cut off the amount of the invoice. Payroll, marketing efforts, and working capital are just a few of the business requirements that can be satisfied with instant  money.

Receivable Funding offers the means for a producer to renew inventory and make even more items to sell: There is no longer a requirement to await for earlier sales to be paid. FACTORING is not just a cash management device for producers: Almost any type company can benefit from Trucking Factoring. Generally, a business that extends credit will have 10 to 20 percent of its yearly sales bound in accounts receivable at any given time. Think for a moment about exactly how much is tied up in 60 days' worth of invoices: You can not pay the power expense or today s payroll with a customer s invoice, but you can offer that invoice for the money to meet those obligations. Using truck factoring companies is a quick and simple procedure. The factoring company buys the invoice at a discount, usually a couple of portion points less than the face value of the invoice.

 

 

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The American Transportation Association
states that there around
195,000 work with transportation
companies and
276,000 personal service providers trucking
firms accredited to
run in America that carried,
according to their newest listings of millions of
items, materials and
standard materials .
There are numerous typical
providers either going solo or in
teams on our nation
roads transferring these
important items to our
stores, manufacturing facilities and shipping ports.

And trucking factoring
firms help
numerous of them and offer their
receivables financing services
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

 

The largest industry sectors by employment in Indianapolis are manufacturing, health care and social services, and retail trade. Compared to Indiana as a whole, the Indianapolis metropolitan area has a lower proportion of manufacturing jobs and a higher concentration of jobs in wholesale trade; administrative, support, and waste management; professional, scientific, and technical services; and transportation and warehousing.Companies[edit] ounded in the city in 1876. in downtown Indianapolis.Many of Indiana's largest and most recognized companies are headquartered in Indianapolis, including pharmaceutical manufacturer and Company; are also located in Indianapolis. Other major Indianapolis area employers include . In addition, Indianapolis hosted auto parts companies such as , which provided acetylene generators for brass era headlights and acetylene gas starters.ATA ) was headquartered in Indianapolis prior to its collapse.Business climate and real estate[edit] magazine ranked Indianapolis the sixth-best city for jobs in 2008, based on a combined graded balance of perceived median household incomes, lack of unemployment, income growth, cost of living and job growth. However, in 2008, Indiana ranked 12th nationally in total home foreclosures and Indianapolis led the state.Indianapolis the most afable major housing market in the U.S. for the fourth quarter of 2009. That year, Indianapolis also ranked first on CNN/Money's list of the top ten cities for recent graduates.In 2010, Indianapolis was rated the tenth best city for relocation by Yahoo Real Estate, and tenth among U.S. metropolitan areas for GDP growth.In 2011, Indianapolis ranked sixth among U.S. cities as a retirement destination, as one of the best Midwestern cities for relocation, best for rental property investing, and best in a composite measure that considered local employment outlook and housing afability.A 2013 analysis by site selection consulting firm ranked Indianapolis as the most cost competitive market for corporate headquarters facilities in the United States. Also in 2013, Indianapolis appeared on list of Best Places for Business and Careers

 

 

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

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.

 

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

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

 

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

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

 

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

 

 

"

Harper Truck & Haul have been operating their business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the boom times from 2002 to 2007 Harper Truck & Haul was the mastermind of a top-rated accounts receivable in 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. Worse still, it was noticed by Harper 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, Vernon Johnson, CEO of Harper 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 gone to his administrators and asked them what the problem had been. Were they doing something wrong or different when it came to reaching out to delinquent accounts? When checking his bookkeeper's records this was definitely not the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Harper money had jumped ship and decided to leave him holding the bag.

 

. They could not afford to pay him their debt, but they could afford a lesser service, maybe. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Harper hadn't gone elsewhere. They had just gone home.This current state-of-affairs was causing Vernon Johnson 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, Roberta, and still find no relief from the worry and frustration.

 

""I have a bad feeling, Lin,"" he'd sadly say to his wife.""What could you do differently?"" she would ask.Vernon 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. Why couldn�t he work out how to resolve this financial problem with his business?""I think I know what it could be,"" said Vernon. ""I've relied too long on the profits I receive from invoices alone. I've let too many of our customers go too long without paying on their bills."" All Roberta 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'.""Vernon knew very well that Roberta 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 Vernon walked into his office with a spring in his step, determined to call each and every client who owed money to Harper Truck & Haul. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. Wasting money, wasting time - even with the best of intentions, Vernon knew that he was in trouble.

 

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 Eileenerley knocked at his door.

 

""Can I have a word with you Vernon?"" she queried, standing in the doorway.

 

""Sure thing Eileen, come on in."" Vernon relaxed back into his chair and looked up at Eileenerley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Vernon."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard of factoring?"" Eileenerley asked.""It sounds vaguely familiar. What is factoring""? he asked.She began, ""Well, it is really very simple. So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Vernon 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. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. 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,� Vernon said. �And then what?""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.

 

This company tells us what the cost will be to purchase factoring for our accounts receivable. We come to an agreement and the funding starts pouring out.�Vernon leaned forward and reviewed the paperwork closely.""I do not know, Eileen - it just sounds too good to be true"", Vernon said quietly.""Now, now, I know, I thought the same thing. But think about it, Vernon: 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, Vernon,"" she underlined a paragraph on the paper 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. It only takes 2 to 4 days for this to be figured out. ""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" Vernon said.Vernon took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Vernon took a moment to think about this solution, and agreed with his secretary. The clients who owed them money were long standing friends and professional resources of Harper. Just because they were experiencing difficulties paying their own bills now, Vernon was very concerned about losing these relationships. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. 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. Of course he did not want to lose any more money, but he did not want to lose business either.""Well, let me think about this tonight Eileen, thank you."" Eileen nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Vernon keep the shirt on his back, and possibly hers too.Vernon stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. What other issues could freight factoring help Harper 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. Vernon was surprised: it said that his company could get up to fifty percent cash advances on load pickups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""I must tell Tommy the good news,"" muttered Vernon to himself.Tommy is Vernon's son-in-law, and he really admired the ideas behind Harper, so much so that only two years before he had started his own transportation service business. At that time Vernon knew the struggles Tommy would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Harper was hurting, a little guy like Tommy was about to catch his death. But, maybe the answer for both of them was in freight factoring, and Vernon was going to find out very soon.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Vernon was beginning to find his way out of the hole his debtors had created for him.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They took that time and refocused effort to offering competitive prices in new territories. Vernon looked back on the dismal months of life before freight factoring and almost shuddered at the thought. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

The largest industry sectors by employment in Indianapolis are manufacturing, health care and social services, and retail trade. Compared to Indiana as a whole, the Indianapolis metropolitan area has a lower proportion of manufacturing jobs and a higher concentration of jobs in wholesale trade; administrative, support, and waste management; professional, scientific, and technical services; and transportation and warehousing.Companies[edit] ounded in the city in 1876. in downtown Indianapolis.Many of Indiana's largest and most recognized companies are headquartered in Indianapolis, including pharmaceutical manufacturer and Company; are also located in Indianapolis. Other major Indianapolis area employers include . In addition, Indianapolis hosted auto parts companies such as , which provided acetylene generators for brass era headlights and acetylene gas starters.ATA ) was headquartered in Indianapolis prior to its collapse.Business climate and real estate[edit] magazine ranked Indianapolis the sixth-best city for jobs in 2008, based on a combined graded balance of perceived median household incomes, lack of unemployment, income growth, cost of living and job growth. However, in 2008, Indiana ranked 12th nationally in total home foreclosures and Indianapolis led the state.Indianapolis the most afable major housing market in the U.S. for the fourth quarter of 2009. That year, Indianapolis also ranked first on CNN/Money's list of the top ten cities for recent graduates.In 2010, Indianapolis was rated the tenth best city for relocation by Yahoo Real Estate, and tenth among U.S. metropolitan areas for GDP growth.In 2011, Indianapolis ranked sixth among U.S. cities as a retirement destination, as one of the best Midwestern cities for relocation, best for rental property investing, and best in a composite measure that considered local employment outlook and housing afability.A 2013 analysis by site selection consulting firm ranked Indianapolis as the most cost competitive market for corporate headquarters facilities in the United States. Also in 2013, Indianapolis appeared on list of Best Places for Business and Careers

 

 

More Trucking Factoring Companies Story Articles

The Future of a Trucking Company, and Factoring The phone was ringing on his desk, and Ronnie Stone 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. Stone Trucking Company was at a turning point of growth and Ronnie had to decide if signing with a factoring company was the right way forward.

 

More than forty years ago Ronnie's father had started this business working as an owner-operator and eventually growing Stone Trucking Company into a fifteen trailer fleet. There had been some hard times when it seemed everything was going to go under and even Ronnie�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 Ronnie�s hands and he wanted to live to see it in better shape for his sons.

 

There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. He had employees to pay. They had families and household bills too. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. He knew that turning down these requests made Stone Trucking look inefficient and weak in what was currently a strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Ronnie allowed himself a good hard chuckle. He remembered when his father was totally against installing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that 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.

 

Ronnie believed a successful man is always thinking of his next step. What would be the next step for Stone Trucking? More importantly, how could he afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

But was factoring the answer? There was a lot he didn�t understand about the process. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. 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. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Now it was time for Ronnie to do his homework. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

But it turned out to be quite easy. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He was quite happy to sign an exclusive contract. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. 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 was good money.

 

For Ronnie it was quite a relief to be dealing with the factoring company. 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. Factoring was based on the credit of his customers and on their reliability which worked well for Ronnie because he and his father had built up good strong relationships over decades with their list of clients. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients wouldn�t think poorly of Stone Trucking and the factoring companies appeared capable of handling the accounts receivable in the same polite manner that his father had used over the years.

 

Feeling happier now, Ronnie stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. With the capabilities of this new cash flow, Ronnie could actually expand Stone Trucking Company further across the country and perhaps even go international into Canada. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

 

 

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Trucking Factoring  Articles

"

�So It is not a loan?� Dave Arnold asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Dave smiled at him, shaking her head.�Not quite,� she said.Dave Arnold owned a small trucking company, and his business had recently fallen on difficult times. Trucking could be a profitable business, and for a little under a decade, it had been for George. His company was called Taylor Trucking, named after both of his grandfathers, Daniel and Isaac. Both of these men had been very hardworking and had set a great example for George.Six months ago disaster struck George's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. The financial security of George'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 Dave had on hand.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

You could go a month or more before bills were completely paid off. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Dave wasn�t a bad owner, and he hadn�t messed up. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.That�s where the woman across the desk came in. Her name was Maureen and she worked for a factoring company. He had accidentally come across her company one night when he was working late, searching the internet to see if there was some solution to his financial dilemma.She sat there now, and explained. �it is really not a loan at all: we actually buy your accounts receivable. we are not giving you finance to be repaid later: we are purchasing something from you, and when you can you can buy it back. That way we�re protected from a complete loss, but you�re protected from the outrageous fees you would find in a loan from the bank.Dave nodded. It sounded good to him, almost too good.The woman 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 thought I was going to lose my company.�Maureen 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. We all need help sometimes. That�s what we�re here for.""Well, I'm very grateful that you came to see me today.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� Maureen said with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Dave filled the form out, with Maureen available to help him if he needed it. The completed profile gave Maureen and her company all the information they needed on George's business, and with this information they would determine if this business would in fact be suitable for Factoring. In truth, not all companies were. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. As Dave completed his form, Maureen listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Maureen took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook George's hand. He also stood up, and they smiled at each other. They said their goodbyes and Dave walked her to the door, and then returned to his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He leaned back and closed his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. Talking to Maureen though, learning about factoring, it felt like a weight had been lifted from his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.The long nights, where he couldn�t sleep. The terrifying panic attacks that occurred regardless of where he was. Already he could feel all the stress start to drain away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was there, he was on the right path, and he was working to make things right.Dave couldn�t help but think back to when he had first started the business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been 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 Taylor Trucking. So he did it. For the second time in his short life he created a company from the ground up. He had been successful.And then the trucks went down, and his success looked to be in flux. He was about to turn fifty. He was concerned that he just did not have the energy left to try and save the business. But giving up wasn't part of his personality either.

 

Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He didn�t know how to say quit.And now, because of factoring, he was sure he wouldn�t have to. George's eyes opened, he sat forward in his chair and turned on his computer. He had lots to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

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More Trucking Factoring Company Story Articles

Precisely why Trucking Agencies Use Factoring Firms.

 

As the owner of your own business, you may well be much more than aware already of the challenge in making sure that capital matters do not become a problem down the line. Anyway, the most awful thing that can quite possibly transpire for your firm is to find yourself swept up in a long and problematic condition that leaves you forever trying to find the money you need to have on an recurring manner.

 

For any kind of establishment in this scenario, the dilemma can come for waiting for work to lapse and actually be repaid into your account. Bill of sales, checks, and the like could take some time to actually to be taken care of which may leave you with momentary capital troubles. Luckily, there are solutions out there for industries to delve into-- and among these is factoring companies.

 

Factoring firms will, in substitution for your statements, supply you with the cash immediately so that you do not need to worry about the lingering phase which could make paying out the bills and purchasing toolsmore difficult. With this style of system, invoice factoring can become exceptionally useful for a lot of businesses who need to avoid a cash pitfall which they have gotten themselves in.

 

Due to the fact that, depending on the volume of the work, it can take up to 60 days for several companies to get paid then it is critical to blanket your own back and not leave yourself money short to settle the bills. After all, how many establishments possess two months cash flow just lying there to cover all their overheads until they make money?

 

This is specifically correct of trucking enterprises. They often handle lots of invoices which means a substantial amount of collection time entails business owner themselves. Attempting to get compensated promptly can end up being an unbelievable trouble and this is precisely why you make use of truck factoring organizations who are thrilled to help out truckers exclusively.

 

As we all realize, trucking is an incredibly large market with numerous organizations out there employing hundreds of operators. Sadly, many of these drivers end up in income problems considering that they are still waiting for work from six weeks ago to actually compensate them. When this is the situation for a trucking firm, resorting to factoring firms for aid maybe the ideal option left.

 

This signifies that a truck corporation can provide the wages of the crew, keep all the cars loaded with gas and continue to escalate, flourish and expand without consistently waiting for the money which is taking too long to come in. Trucking Companies working without a factoring program used are leaving themselves at critical threat, as contenders cash out rapidly and proceed to grow.

 

There's absolutely nothing at all to be troubled about when it comes to working with a Factoring company-- they usually are not like a financial institution or an individual who is going to leave you with a massive pile of personal debt to repay. You give them legitimate invoices from work you have already accomplished , you are only facilitating the repayment system.

 

In the United States, where truck agencies flourish, factoring enterprises are not considered borrowing in any capacity. This confidential settlement then allows both parties to benefit and take pleasure in a convenient future-- it provides the factoring agency a guaranteed resource of earnings to put into the list and it furnishes the trucking firm the needed funds that they worked hard to earn.

 

The trucking enterprise presents their invoices to the factoring firm. The trucking factoring company then take the payments from the trucking company's clients. Factoring has been all around for hundreds of years and has been utilized for many years by plenty of varying industries-- but none more so than truckers. While you may lose out on a small part of the money, something like 1-3 % depending upon who you collaborate with, it implies that you are receiving the funds today and can actually begin putting the resources to do work.

 

After all, an IOU or an invoice is not actually going to finance spendings, is it? For trucking enterprises when the hard earned cash can be good one day and gone the next, it is up to the drivers to work smartly and to make sure that they are leaving themselves with a considerable quantity of time and money to get through the week till they are paid for once again.

 

So the next period your trucking company is bearing some short-term cash flow issues and you are putting in excessive time chasing sluggish paying clienteles, why not start looking into employing a factoring companies as a means to get your cash and give yourself a more comfortable future in the eyes of your trucking staff and your bank balance?

 

 

 

 

 

 

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Traditional 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. 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. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not offer loans, and you do not go into debt when you get money from a Trucking Factoring company. 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 finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to sell. Once you have set up Trucking Factoring account it continues as long as you wish it too and the amount of money available to you even can grow as your business grows, giving you the ready cash you need to meet your own obligations.

 

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

 

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

 

1. You will not Incur Debt. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. 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. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

3. You'll receive the money faster. With a Trucking Factoring company you can actually get the money you need faster. 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. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.Interest is Paid 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 most important benefits is that once you sell your accounts receivable to the factory company, you do not have to take time away from running your business to collect the money owed from reluctant to pay customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

Another bonus is that, because the Trucking Factoring company has evaluated the quality of your customers' credit before buying the accounts receivable, you learn valuable information regarding your customers, like which ones are likely to pay, and which ones are less likely to pay.A Trucking Factoring company is not the only method of gaining access to finance for the running and growing of your business, however it does offer a financing option well worth considering.

 

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Factoring Companies by City

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