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To Companies Who Want To Write - but Can't Get Started - Our Freight Factoring Company Can Give
Your Trucking Company The Money Your Company Needs

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Small freight businesses, especially those who have not been in existence for really long, will typically discover it tough to secure a loan. Banks are typically reluctant to lend money to businesses that do not have a lot of earnings and properties. They also want evidence of the practicality of a business and thus need that most operations, specifically little ones, be in business for a specific amount of time before they are prepared to hand over any cash. Since of this, a medium-size company frequently has a couple of money generating alternatives when requires develop. One alternative available, but typically ignored, is invoice factoring. This is an outstanding means for a medium-size company to obtain cash.

 

 

 

 

 

 

 

Is The Life of a Receivable Worth $1 to You - Pick A Freight�Invoice Factoring Company  Instead Of A Traditional Bank Financing

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

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

Cash flow does not have to be an issue any ever more. Do not be fooled -- banks are not the only locations you can get financing. Other solutions are available and you do not have to borrow. Exactly what is trucking factoring ? One option is called trucking factoring. Trucking Factoring is the procedure of selling accounts receivable to a financier instead of waiting to collect the money from the client. Oh, the Irony- Trucking factoring has an ironic difference: It is the monetary foundation of many of America's most effective businesses. Why is this paradoxical ? Because commercial factoring is not taught in business colleges, is rarely discussed in business plans and is fairly unidentified to bulk of most of American business individuals.

Yet it is a monetary process that releases up billions of dollars every year, enabling thousands of businesses to grow and prosper. Truck Factoring has actually been around for thousands of years. Receivable Loan Financing Companies are financiers who pay cash for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your client has actually agreed pay in the near future. Factoring Principals--Although factoring offers solely with business-to-business deals, a big percentage of the retail business uses a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail transactions. Using the purest meaning of the word, these large customer finance companies are really just big Factoring Companies of consumer paper. Consider it: You make a purchase at Sears and charge it to your MasterCard. The shop makes money practically instantly, even though you do not pay up until you are ready.

For this service, the charge card company charges Sears a charge (typical common normal charges vary from two to 4 percent of the sale). The Advantages Truck Factoring can offer numerous benefits to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on a product that has currently been delivered, a business can factor (sell) its receivables for cash at a little price cut off the dollar value of the invoice. Payroll, marketing efforts, and working capital are just a few of the business needs that can be met with instant  cash.

Invoice Factoring offers the ways for a manufacturer to renew stock and make even more items to sell: There is no longer a need to await for earlier sales to be paid. Receivable Loan Financing is not just a cash management device for producers: Practically any kind business can benefit from Commercial 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 how much is bound in 60 days' worth of invoices: You can not pay the power expense or this week s payroll with a customer s invoice, however you can sell that invoice for the money to satisfy those responsibilities. Using truck factoring companies is a quick and simple procedure. The factor purchases the invoice at a price cut, usually a few percentage points less than the face value of the invoice.

 

 

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mesa-factoring-companies

 

The United states Transportation Organization
states that there around
195,000 employees with freight trucking
companies and
276,000 private service providers trucking
companies licensed to
run in America that transported,
according to their most current listings of millions of
items, supplies and
basic materials .
There are a number of common
providers either going solo or in
groups on our country
highways carrying these
crucial products to our
shops, manufacturing facilities and harbors.

Furthermore freight bill factoring
businesses support
numerous of them and offer their
receivables financing services
nationwidecomprising
including the following states.

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

 

"

Mesa has over 2,280 acres of parkland in the city limits. Mesa's largest park is Red Mountain Park which spans 1,146 acres. It includes a lake, playgrounds, a basketball court and a cement volleyball court.Golf[edit]Mesa is home to numerous championship golf courses, including the original course in town, Mesa Country Club (www.mesacountryclub.com). This course was founded in the late 1940s by the original leaders of the town, and ""Country Club Drive"" - the most prominent street in Mesa - was at one point the modest entrance to the club.West Mesa[edit]Main articles: Fiesta Mall and Mesa RiverviewThe Fiesta Mall is located in West Mesa, and owned by Westcor. It is located near several shopping centers, Mesa's , and other retail stores, banks, and restaurants. An expansion of Fiesta Mall has been planned.Mesa Riverview is a new outdoor destination retail center in the northwestern corner of the city, near Loop 202 and Dobson Road. At build-out the center will include of 1,300,000 square feet (120,000 m2) of retail space. in the State of Arizona and is a suburb located about 20 miles (32 km) east of Phoenix. Mesa is the central city of the East Valley section of the Phoenix Metropolitan Area. It is bordered by Tempe on the west, the Salt River Pima-Maricopa Indian Community on the north, Chandler and Gilbert on the south, and Apache Junction on the east. As of the 2010 Census Mesa became Arizona's center of population.Mesa is the third-largest city in Arizona, after Phoenix and Tucson. and the 38th-largest city in the US. The city is home to 439,041 people as of 2010 according to the Census Bureau. Mesa is home to numerous higher education facilities including Polytechnic campus of Arizona State University.

 

"

 

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

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

 

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

 

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

 

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

 

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

 

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

 

 

"

Since the mid 1980s Dean Truck & Haul have been successfully running their freight business. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the boom times from 2002 to 2007 Dean Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. Cash was flowing and times were good for all.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed to a crawl

 

. And worse yet, Dean 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. Spring changed to summer, summer changed to fall, and the CEO of Dean, Christian Carroll, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. There was a growing list of clients who now owed them back debt.He had gone to his administrators and asked them what the problem had been. Were they doing something wrong or different when it came to reaching out to delinquent accounts? By his bookkeepers records, this wasn't the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. They could not afford to pay him their debt, but they could afford a lesser service, maybe. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. They had just gone home.The situation looked dire to Christian Carroll. 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, Marcia, and neither were unable to stop the constant worry over the lack of funds.""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""What could you do differently?"" she would say.Christian would stare off into the distance, and then slowly close his eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them traveling, bringing goods to all of his clients. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. What on earth was happening to create the death of his business?""I think I know what it could be,"" said Christian. ""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."" Marcia would look at her husband lovingly, and holding his hand would say 'it is such a harsh economy these days and our clients must be having difficulty meeting their responsibilities'.""Marcia was trying so hard to support her husband in these worrying times, while Christian was weighed down with the worry of how he was going to handle this situation he found himself in.The next day Christian strolled into his office and was determined to sit down and make every phone call to every client who had owed Dean money. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. Wasting money, wasting time - even with the best of intentions, Christian 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 Anaerley knocked at his door.

 

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

 

""Sure thing Ana, come on in."" Christian relaxed back into his chair and looked up at Anaerley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Christian."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard the word factoring?"" Anaerley asked.""It does sound vaguely familiar. What is factoring""? he asked.""Well,"" she began, ""It�s actually quite simple really.

 

So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Immediately?"" Christian interrupted.""Immediately, yes"" she added, ""it is actually very simple. We start by having a professional account manager review our figures and help us set up 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,� Christian said. �And then what?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. There�s a lot of flexibility depending on the business volume and credit histories. This company tells us what the cost will be to purchase factoring for our accounts receivable. Once we arrive at a mutual agreement, the funding begins.�Leaning forward, Christian studied the documents very closely.""I do not know, Ana - it just sounds too good to be true"", Christian said quietly.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Christian: 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, Christian,"" 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. 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. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" Christian said.He took a deep breath and looked at his secretary with something she recognized as hope.""Exactly�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Christian thought about this and agreed with Anaerley. The clients who owed them money were long standing friends and professional resources of Dean. Christian wasn't prepared to lose these relationships just because they were having financial issues at the moment. 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. He did not want to lose business but he also did not want to lose any more money.""Let me go over this tonight Ana, and thankyou."" Ana nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Christian keep the shirt on his back, and possibly hers too.Christian stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. He wondered if there might be other problems freight factoring could help Dean 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, Dean could receive up to fifty-percent cash advances upon load pick-ups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""Well, I'll have to tell Antonio about this,"" muttered Christian to himself.Antonio is Christian's son-in-law, and he really admired the ideas behind Dean, so much so that only two years before he had started his own transportation service business. Christian knew then what struggles Antonio would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Dean was struggling then the little guys, like Antonio, were going to be in even more trouble.

 

But, an antidote may have been found in freight factoring and Christian was soon to find out.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Christian was beginning to find his way out of the hole his debtors had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They took that time and refocused effort to offering competitive prices in new territories. Christian looked back on the dismal months of life before freight factoring and almost shuddered at the thought. He probably wouldn't be in business today had he not learned just in time about freight factoring.

 

"

 

"

Mesa has over 2,280 acres of parkland in the city limits. Mesa's largest park is Red Mountain Park which spans 1,146 acres. It includes a lake, playgrounds, a basketball court and a cement volleyball court.Golf[edit]Mesa is home to numerous championship golf courses, including the original course in town, Mesa Country Club (www.mesacountryclub.com). This course was founded in the late 1940s by the original leaders of the town, and ""Country Club Drive"" - the most prominent street in Mesa - was at one point the modest entrance to the club.West Mesa[edit]Main articles: Fiesta Mall and Mesa RiverviewThe Fiesta Mall is located in West Mesa, and owned by Westcor. It is located near several shopping centers, Mesa's , and other retail stores, banks, and restaurants. An expansion of Fiesta Mall has been planned.Mesa Riverview is a new outdoor destination retail center in the northwestern corner of the city, near Loop 202 and Dobson Road. At build-out the center will include of 1,300,000 square feet (120,000 m2) of retail space. in the State of Arizona and is a suburb located about 20 miles (32 km) east of Phoenix. Mesa is the central city of the East Valley section of the Phoenix Metropolitan Area. It is bordered by Tempe on the west, the Salt River Pima-Maricopa Indian Community on the north, Chandler and Gilbert on the south, and Apache Junction on the east. As of the 2010 Census Mesa became Arizona's center of population.Mesa is the third-largest city in Arizona, after Phoenix and Tucson. and the 38th-largest city in the US. The city is home to 439,041 people as of 2010 according to the Census Bureau. Mesa is home to numerous higher education facilities including Polytechnic campus of Arizona State University.

 

"

 

More Trucking Factoring Companies Story Articles

"

The Future of a Trucking Company, and Factoring Corey Lane let the phone ring on his desk. 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. Lane Trucking Company had reached a turning point and he now had to make a decision as to whether he should sign up with a factoring company, and indeed if this would be a good or regrettable decision for his business.

 

More than forty years ago Corey's father had started this business working as an owner-operator and eventually growing Lane Trucking Company into a fifteen trailer fleet. There had been some hard times when it seemed everything was going to go under and even Corey�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. Now the company was solely in Corey�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 all have families and the usual household bills. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. Every time he had to turn down a request, Lane Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Corey allowed himself a good hard chuckle. He remembered when his father was totally against installing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). His father days were long gone and technology was actually an important improvement for the business such as having Qualcomm to cut down on fruitless time communicating on the phone for bills of lading.

 

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

 

He wondered about factoring - was this the answer for him? If he was being honest, he did not really understand how it all worked. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. 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 this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Now it was time for Corey to do his homework. Corey had heard that there were companies that charged for same day money transfers and would only advance a percentage of the money owed to your company while holding the rest in a private account if they didn�t get their bill payment within 60 or so days. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

But it turned out to be quite easy. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He was quite happy to sign an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. Many companies offered a non-recourse factoring program that suited him just fine. He was more than happy with the figures he was offered in percentage terms on the freight bills. It sounded like a great scheme to him.

 

It was really refreshing dealing with the factoring people. They were extremely helpful and more personable than the bank staff. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies 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 Corey because he and his father had created a very strong and loyal list of clientele over the years. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients would not have any problems, nor would they think poorly of Lane 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.

 

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

 

"

 

 

View Our Trucking Factoring Companies Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So, this is not a loan?� Billy Watkins asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Billy smiled at him, shaking her head.�Not quite,� she said.Billy Watkins owned a small trucking company, and his business had recently fallen on difficult times. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Dean. His company was called Nguyen Trucking, named after both of his grandfathers, Ben and Gregory. They had both been hardworking men, and had done a lot to make Billy the same.Disaster had struck half a year ago, when two trucks in Dean�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 Dean'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 Billy had on hand.A big problem a lot of trucking companies came across was how bills were paid in the industry. Waiting a month or longer for bills to be paid was quite normal. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Billy was an excellent business man, and he certainly hadn't done anything wrong. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.That�s where the woman across the desk came in. Her name was Terri and she worked for a factoring company. Billy had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.She sat there now, and explained. �It�s not a loan, we purchase your accounts receivable. we are not giving you finance to be repaid later: we are purchasing something from you, and when you can you can buy it back. This is a win-win situation: we are protected from a total loss, and you're protected from the ridiculous fees and charges you'd have to pay if you borrowed from a bank.Billy nodded. It sounded good to him, almost too good.The woman laughed. �You look like you don�t believe me,� she chuckled.�No, I do, I just think it sounds a bit too good to be true. I actually thought I might end up losing my business.�Terri nodded. �Yes, we get a lot of that. Listen, I�d hate to see you lose your company. We know how hard you work, and that you've invested everything in your business. Sometimes you need help. That�s what we�re here for.""In any case, thank you for coming to see me.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� Terri said with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Billy filled the form out, with Terri available to help him if he needed it. The profile filled Terri and her company in on Dean�s company, and would help them determine if he was suitable for factoring. Unfortunately, not all companies are. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. Listening as Billy filled out his form, Terri was pretty sure he was a perfect candidate for factoring.When the form was done Terri took it and slid it into her briefcase. She then stood, reached across the desk and shook Dean�s hand. He also stood up, and they smiled at each other. Billy walked Terri 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 leaned back and closed his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. Talking to Terri though, learning about factoring, it felt like a weight had been lifted from his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.All those long, sleepless nights. The terrifying panic attacks that occurred regardless of where he was. Already he could feel all the stress start to drain away. He 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. He had opened a restaurant at age twenty two when he was fresh out of school. It had been successful. Home cooking in his hometown, and he had done very well.But he had gotten bored. He wasn't passionate about the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took half a year off, and in that time he thought to start Nguyen Trucking. So he did it. For the second time in his short life he created a company from the ground up. The business had been an instant success.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was about to turn fifty. He didn�t think he had it in him, to save this company. But giving up wasn't part of his personality either.

 

The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He did not want to quit - both for himself and for his staff members.And now it seemed as though he would not have to - all because of Factoring. Billy opened his eyes, sat forward, turned his computer on. He had lots to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

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More Trucking Factoring Company Story Articles

The reason why Truck Agencies Utilize Factoring Companies.

 

As the manager of your own establishment, you may well be more than mindful already of the challenge in making sure that cash flow concerns do not become a predicament down the line. Anyway, the most awful thing that can quite possibly take place for your enterprise is to find yourself dragged in a long and complicated situation that leaves you forever looking for the finances you need to have on an continuing manner.

 

For pretty much any enterprise in this predicament, the concern can come for waiting for work to lapse and actually be provided into your balance. Statements, checks, and the like can take some time to actually to beprocessed which can certainly leave you with short-term capital difficulties. Fortunately, there are solutions out there for businesses to investigate-- and one of these is factoring agencies.

 

Factoring providers will, in exchange for your invoices, provide you with the finances asap to ensure that you do not need to worry about the lingering time frame which could make paying out the bills and obtaining materialsmore difficult. With this sort of setup, invoice factoring can come to be extraordinarily valuable for numerous businesses who have to get out of a money trap which they have discovered themselves in.

 

Due to the fact that, depending upon the size of the project, it can take up to 60 days for some businesses to get paid then it is significant to blanket your own back and certainly not leave yourself resources short to pay off the expenses. After all, how many businesses possess two months revenue just lying there to deal with all their overheads until they get paid?

 

This is most especially correct of truck companies. They tend to take care of great deals of accounts which means a huge quantity of collection period concerns company owner themselves. Trying to get paid promptly can come to be an unbelievable trouble and this is the reason why you utilize trucking factoring agencies who are happy to help out truckers specifically.

 

As we all recognize, trucking is an unbelievably large business with many agencies out there hiring hundreds of operators. However, several of these drivers end up in cash problems since they are still waiting for work from six weeks back to actually compensate them. When this is the scenario for a trucking organization, turning to factoring providers for reinforcement may be the most effective alternative left.

 

This signifies that a trucking organization can pay off the salaries of the work force, keep all the cars loaded with gas and continue to go up, develop and expand without continually waiting for the money which is taking too lengthy to come in. Trucking Firms functioning without a factoring system applied are leaving themselves at substantial threat, as competitions cash out quickly and carry on to expand.

 

There's honestly almost nothing to be worried about when it comes to utilizing a Factoring establishment-- they usually are not like a banking company or somebody who is going to leave you with a big pile of debt to repay. You give them genuine invoices from job you have already wrapped up , you are merely speeding up the repayment process.

 

In the United States, where truck establishments thrive, factoring firms are not considered getting a loan in any capacity. This confidential arrangement then makes it possible for both parties to benefit and delight in a convenient future-- it provides the factoring company a secured asset of cash flow to add to the list and it offers the trucking business the required finances that they worked hard to gain.

 

The trucking establishment presents their statements to the factoring enterprise. The trucking factoring company then receive the installment payments from the trucking company's customers. Factoring has been all around for hundreds of years and has been employed for many years by lots of varying industries-- but none exceeding so than truckers. While you might lose out on a small part of the money, something like 1-3 % depending upon who you team up with, it implies that you are obtaining the money today and can actually begin setting the money to operate.

 

Once and for all, an IOU or an invoice is absolutely not going to fund expenditures, is it? For trucking establishments when the resources can be great one day and gone the next, it is up to the vehicle drivers to work sensibly and to ensure they are leaving themselves with a significant amount of time and money to get through the week up until they are paid once more.

 

So the next time your trucking establishment is enduring some short-term capital issues and you are putting in too much time chasing slowly paying clients, why not start looking into making use of a factoring businesses as a way to get your cash and give yourself a more pleasant future in the eyes of your trucking workers and your bank balance?

 

 

 

 

 

 

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Traditional Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. 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. 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 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.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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

 

1. You will not Incur Debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. 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. 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. Receive Your Money Faster. Using a Trucking Factoring company means that you'll get the finance quicker. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.You receive interest up-front. 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. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The most important benefits is that once you sell your accounts receivable to the factory company, you do not have to take time away from running your business to collect the money owed from reluctant to pay customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very efficient at debt collecting, and this frees up your valuable time to devote to running your company.

 

In addition, since the Trucking Factoring company evaluates the credit quality of your customers prior to purchasing the accounts receivable you gain valuable information into which customers are likely to pay and which ones are not so likely to pay.While a Trucking Factoring company is not the only way for your business to obtain the money it needs to keep growing, it does offer a type of financing well worth considering.

 

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Factoring Companies by City

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