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You Can Laugh at Money Worries - if You Follow This Simple Plan - Our Freight Factoring Company Can Provide
Your Freight Company The Cash You Need

businessfinanceresource.org

factoring for trucking companies

trucking invoice factoring companies

transportation factoring trucking

freight invoice factoring

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

 

 

 

 

 

 

 

How To Get More Profit From Your Receivables - Pick An Invoice Factoring Company Instead Of A Regular Bank Financing

Exactly how to Enhance Cash Flow Without Borrowing -Cash Money flow is one of the primary reasons businesses fail.

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

Cash flow does not have to be a problem any more. Do not be deceived -- banks are not the only places you can get financing. Other options are offered and you do not have to borrow money. What is truck factoring ? One option is called truck factoring. Truck Factoring is the process of selling invoices to an investor instead of waiting to collect the cash from the customer. Oh, the Irony- Truck factoring has a paradoxical difference: It is the monetary foundation of numerous of America's most effective businesses. Why is this paradoxical ? Because trucking factoring is not instructed in business colleges, is seldom discussed in business strategies and is relatively unknown to bulk of most of American company people.

Yet it is a financial procedure that releases up billions of dollars every year, allowing thousands of businesses to grow and succeed. Commercial Factoring has actually been around for countless years. Accounts Receivable Factoring 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 customer has actually agreed pay in the near future. Factoring Principals--Although factoring deals solely with business-to-business deals, a large percentage of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail deals. Utilizing the purest meaning of the word, these big customer finance companies are really simply big Receivable Loan Funding Businesses of customer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The shop gets paid practically immediately, although you do not pay until you are prepared.

For this service, the credit card business charges Sears a charge (typical common normal fees vary from 2 to four percent of the sale). The Advantages Receivable Loan Funding can provide numerous advantages to cash-hungry business. Instead of waiting 30, 60, 90 days or longer for payment on a product that has actually already been delivered, a business can factor (sell) its receivables for cash at a little discount off the amount of the invoice. Payroll, marketing efforts, and working capital are simply a few of the business requirements that can be met with instant  cash.

Invoice Factoring offers the means for a producer to renew inventory and make even more items to offer: There is no longer a need to wait for earlier sales to be paid. Receivable Loan Financing is not simply a money management tool for producers: Practically any kind company can benefit from Truck Factoring. Generally, a company that extends credit will have 10 to 20 percent of its yearly sales bound in invoices at any given time. Think for a moment about how much is tied up in 60 days' worth of invoices: You can not pay the power bill or today s payroll with a client s invoice, but you can sell that invoice for the cash to satisfy those obligations. Using trucking factoring companies is a quick and easy process. The factoring company buys the invoice at a price cut, typically a couple of portion points less than the face value of the invoice.

 

 

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The American Truck Organization
states that there around
200,000 workers with truck
firms and
250,000 private companies trucking
companies licensed to
run in the States that carried,
according to their most current listings of millions of
products, materials and
standard materials .
There are several common
carriers either going solo or in
teams on our nation
roads carrying these
important items to our
stores, manufacturing facilities and harbors.

Moreover freight bill factoring
firms benefit
numerous of them and offer their
factoring facilities
nationallycomprising
including the following states.

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

 

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Seattle's economy is driven by a mix of older industrial companies, and ""new economy"" Internet and technology companies, service, design and clean technology companies. The city's gross metropolitan product was $231 billion in 2010, making it the 12th largest metropolitan economy in the United States. The Port of Seattle, which also operates Seattle�Tacoma International Airport, is a major gateway for trade with Asia and cruises to Alaska, and is the 8th largest port in the United States in terms of container capacity. Though it was affected by the Great Recession, Seattle has retained a comparatively strong economy, and remains a hotbed for start-up businesses, especially in green building and clean technologies: it was ranked as America's No. 1 ""smarter city"" based on its government policies and green economy. February 2010, the city government committed Seattle to becoming North America's first ""climate neutral"" city, with a goal of reaching zero net per capita greenhouse gas emissions by 2030. Amazon headquarters building in South Lake UnionStill, very large companies dominate the business landscape. Four companies on the 2013 Fortune 500 list of the United States' largest companies, based on total revenue, are headquartered in Seattle: , is based in Federal Way. Finally, Bellevue is home to truck manufacturer Paccar (#168). Other major companies in the area include There are also many successful independent artisanal espresso roasters and caf�s.Prior to moving its headquarters to Chicago, aerospace manufacturer Boeing (#30) was the largest company based in Seattle. Its largest division is still headquartered in nearby Renton, and the company has large aircraft manufacturing plants in Everett and Renton, so it remains the largest private employer in the Seattle metropolitan area. Former Seattle Mayor announced a desire to spark a new economic boom driven by the biotechnology industry in 2006. Major redevelopment of the South Lake Union neighborhood is underway, in an effort to attract new and established biotech companies to the city, joining biotech companies is behind most of the development projects in the region. While some see the new development as an economic boon, others have criticized Nickels and the Seattle City Council for pandering to Allen's interests at taxpayers' expense. Also in 2006, Magazine ranked Seattle among the top 10 metropolitan areas in the nation for climates favorable to business expansion. In 2005, ranked Seattle as the most expensive American city for buying a house based on the local income levels. In 2013, however, the magazine ranked Seattle No. 9 on its list of the Best Places for Business and Careers.operating a hub at Seattle�Tacoma International Airport, maintains its headquarters in the city of SeaTac, next to the airport

 

"

 

Watch Our Truck Factoring YouTube Videos For More Information

 

Factoring Companies Calculator
This calculator will show you how much you will make by using our Factoring Companies . But, as your about to discover, you will certainly notice the increased cash flow that will occur when you use our Factoring Companies
Enter the principal balance of your Factoring Companies
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EveryJob is a free service dedicated to helping professional truck drivers find new truck driving jobs with the best trucking companies hiring today!

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

 

Click below to find Trucking Companies in the United States:

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

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

 

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.

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

 

"

Day 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 Day 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 down. And worse yet, Day had noticed during the early part of 2008 that though the bulk of their clients were always on time with payments, the few late-bloomers there were, had seemingly started to spread this illness. And as spring turmed to summer and summer into the early days of fall, Lance Gonzales, CEO of Day 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? 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. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. The had just gone!.This current state-of-affairs was causing Lance Gonzales to have some very restless nights. Lance was very concerned, because there were constant overheads, goods to ship, employees to pay, and trucks which needed to be maintained, but there just wasn't the money coming back into the business. At night he would speak to his wife Courtney and shake his head in frustration.

 

""Lin, I have a really bad feeling,"" he would say with deep woe.""Well, what do you think it is?"" she would ask.Lance would stare off into the distance, and then slowly close his eyes. He could see the fleet of trucks he had purchased over the years. He could see them traveling, bringing goods to all of his clients. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. Why couldn�t he work out how to resolve this financial problem with his business?""I know what it is,"" said Lance. ""I've relied too long on the profits I receive from invoices alone. For too long I've been allowing our clients to let their accounts become overdue."" Linda could only grab her husband's hand and look at him lovingly, ""it is a hard economy. It might be awhile until things get settled up.

 

""Lance knew very well that Courtney 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 next day Lance strolled into his office and was determined to sit down and make every phone call to every client who had owed Day 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. A waste of time - a waste of money - he had the best intentions, but all the while Lance was realising just how much trouble he was in.After a half day of contacting debtors in vain - they dodged his calls or promised to call back at worst or made minimal interest-only payments at best - he was about to throw in the towel when his secretary Ellaerley knocked at his door.

 

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

 

""Of course Ella, please come in."" Lance leaned back in his chair and looked expectantly at Ellaerely.""Well Lance, this afternoon I did some research, trying to work out how we are going to get out of this mess."" 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 the word factoring?"" Ellaerley asked.""It does sound vaguely familiar. What is it?"" he said.""Well,"" she began, ""It�s actually quite simple really.

 

So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Immediately?"" Lance interrupted.""Immediately, yes"" she added, ""it is actually very simple. We can have an expert account manager review our numbers and help us complete a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It provides a very broad view.""I see,� Lance said. �And then what?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. 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.�Lance leaned forward and reviewed the paperwork closely.""It sounds too good to be true, Ella,"" he said.""Now, now, I know, I thought the same thing. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. They appear to be very flexible, Lance,"" she underlined a paragraph on the paper before him.""Just how flexible?"" he asked.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. Apparently they can figure this all out in two to four days.

 

""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" said Lance.He took a deep breath and looked at his secretary with something she recognized as hope.""Precisely�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Lance thought about this and agreed with Ellaerley. The clients who owed them money were long standing friends and professional resources of Day. Just because they were experiencing difficulties paying their own bills now, Lance was very concerned about losing these relationships. Lance knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. That unknown amount of time could create a disaster situation for both of them if he wasn't careful in how these debtors were handled. 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 Ella, thank you."" Ella stood up and left Lance's office, with the nice feeling of knowing that she may just have solved a very serious problem.Lance sat behind his desk and looked over the details Ella had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Day 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, Day 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 Rene about this,"" muttered Lance to himself.His son-in-law Rene had liked the idea of Day so much and revered his father in law for having such business acumen that only two years before, he had gathered the venture capital to begin his own transportation service company. At that time Lance knew the struggles Rene would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Day was struggling then the little guys, like Rene, were going to be in even more trouble. But, an antidote may have been found in freight factoring and Lance 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 Lance 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 used that time to refocus their efforts in being competitive in new territories. Lance 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.

 

"

 

"

Seattle's economy is driven by a mix of older industrial companies, and ""new economy"" Internet and technology companies, service, design and clean technology companies. The city's gross metropolitan product was $231 billion in 2010, making it the 12th largest metropolitan economy in the United States. The Port of Seattle, which also operates Seattle�Tacoma International Airport, is a major gateway for trade with Asia and cruises to Alaska, and is the 8th largest port in the United States in terms of container capacity. Though it was affected by the Great Recession, Seattle has retained a comparatively strong economy, and remains a hotbed for start-up businesses, especially in green building and clean technologies: it was ranked as America's No. 1 ""smarter city"" based on its government policies and green economy. February 2010, the city government committed Seattle to becoming North America's first ""climate neutral"" city, with a goal of reaching zero net per capita greenhouse gas emissions by 2030. Amazon headquarters building in South Lake UnionStill, very large companies dominate the business landscape. Four companies on the 2013 Fortune 500 list of the United States' largest companies, based on total revenue, are headquartered in Seattle: , is based in Federal Way. Finally, Bellevue is home to truck manufacturer Paccar (#168). Other major companies in the area include There are also many successful independent artisanal espresso roasters and caf�s.Prior to moving its headquarters to Chicago, aerospace manufacturer Boeing (#30) was the largest company based in Seattle. Its largest division is still headquartered in nearby Renton, and the company has large aircraft manufacturing plants in Everett and Renton, so it remains the largest private employer in the Seattle metropolitan area. Former Seattle Mayor announced a desire to spark a new economic boom driven by the biotechnology industry in 2006. Major redevelopment of the South Lake Union neighborhood is underway, in an effort to attract new and established biotech companies to the city, joining biotech companies is behind most of the development projects in the region. While some see the new development as an economic boon, others have criticized Nickels and the Seattle City Council for pandering to Allen's interests at taxpayers' expense. Also in 2006, Magazine ranked Seattle among the top 10 metropolitan areas in the nation for climates favorable to business expansion. In 2005, ranked Seattle as the most expensive American city for buying a house based on the local income levels. In 2013, however, the magazine ranked Seattle No. 9 on its list of the Best Places for Business and Careers.operating a hub at Seattle�Tacoma International Airport, maintains its headquarters in the city of SeaTac, next to the airport

 

"

 

More Trucking Factoring Companies Story Articles

Factoring in the Future of a Trucking Business: A Story Craig Washington let the phone ring on his desk. His morning coffee cooled and his cigarette smoked away in the tray: Craig is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Washington 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 Craig's father had started this business working as an owner-operator and eventually growing Washington Trucking Company into a fifteen trailer fleet. Yes, they had survived some very difficult times when it appeared like they might go under, and even Craig's mother had jumped into the cab at times 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. But now things were different: the company was in Craig's hands and he needed to ensure that this business would be left in great shape for his sons.

 

To move Washington Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. His employees needed to be paid. They all have families and the usual household bills. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. He knew that turning down these requests made Washington Trucking look inefficient and weak in what was currently a strong market.

 

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

 

Craig knew he was right in his forward thinking. What would be the next step for Washington 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. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

He wondered about factoring - was this the answer for him? There was a lot he didn�t understand about the process. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. Without this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Now it was time for Craig to do his homework. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

But it turned out to be quite easy. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He didn�t mind signing 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 Craig it was quite a relief to be dealing with the factoring company. They were extremely helpful and more personable than the bank staff. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar for a handout. The factoring companies didn�t worry over his credit and the debt troubles his father had had in the past of the company. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Craig 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 Washington Trucking, because the factoring companies handle themselves in such a polite and professional manner, similar to the way his father had managed the business in the past.

 

Feeling happier now, Craig stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. With the capabilities of this new cash flow, Craig could actually expand Washington Trucking Company further across the country and perhaps even go international into Canada. His heart felt full knowing his sons wouldn�t have to worry about money because of the right decisions he had made for their trucking business.

 

 

 

View Our Trucking Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� Dustin Bryant asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Dustin smiled at him, shaking her head.�Not quite,� she said.Dustin Bryant 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 Clifford. He named his business Coleman Trucking, named after Anthony and Theodore, his two grandfathers. They had both been hardworking men, and had done a lot to make Dustin the same.Six months ago disaster struck Clifford's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. The financial security of Clifford'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 Dustin had on hand.A big problem a lot of trucking companies came across was how bills were paid in the industry. 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.Dustin was an excellent business man, and he certainly hadn't done anything wrong. 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.And that's why he found himself across the desk from this woman. Her name was Holly 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.Holly explained. �it is really not a loan at all: we actually buy your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. 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.Dustin agreed. It sounded good to him, almost too good.The woman laughed. �I'm not sure that you believe me,� she said.�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.�Holly smiled, agreeing. �We get that a lot. There's no way we want to see you lose your business. You work hard, you�ve put everything you can into it. We all need help sometimes. That�s what we�re here for.""In any case, thank you for coming to see me.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� Holly said with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Dustin filled the form out, with Holly available to help him if he needed it. The profile filled Holly and her company in on Clifford�s company, and would help them determine if he was suitable for factoring. In truth, not all companies were. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. As Dustin completed his form, Holly listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Holly took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Clifford's hand. He also stood up, and they smiled at each other. Dustin walked Holly to the door where they said 'Goodbye', then he went back into his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He 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 Holly though, learning about factoring, it felt like a weight had been lifted from his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.The long nights, where he couldn�t sleep. The sudden panic attacks, not matter 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.Dustin 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 successful. Home cooking in his hometown, and he had done very well.But he had gotten bored. His passion didn�t lie with the food industry. He thought long and hard, and then he decided to sell the restaurant. He took six months off, and during that time he decided to create Coleman 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 nearing fifty. He didn�t think he had it in him, to save this company. But he couldn�t give up. Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He did not want to quit - both for himself and for his staff members.And now it seemed as though he would not have to - all because of Factoring. Dustin opened his eyes, sat forward, turned his computer on. He had lots to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

Reasons why Trucking Companies Employ Factoring Companies.

 

As the manager of your own firm, you may perhaps be more than mindful already of the hardship in making sure that capital matters do not become a dilemma down the line. Anyway, the most disappointing thing that can possibly happen for your business is to find yourself involved in a long and troublesome condition that leaves you forever searching for the finances you necessitate on an on-going manner.

 

For pretty much any business in this condition, the dilemma can come for waiting for work to lapse and actually be paid out into your balance. Bill of sales, checks, and the like can take a long time to actually to be taken care of which may leave you with short-term capital issues. Gratefully, there are solutions out there for companies to delve into-- and one of these is factoring companies.

 

Factoring agencies will, in trade for your invoices, grant you with the money right now in order that you do not need to worry about the waiting phase that could make paying off the bills and obtaining materialsmore hard. With this style of setup, invoice factoring can end up being extremely valuable for several companies who need to get out of a money ploy which they have found themselves in.

 

For the reason that, basing on the scale of the work, it can take up to 60 days for a number of companies to get compensated then it is very important to blanket your own back and certainly not leave yourself funds short to pay the bills. After all, how many companies possess two months earnings just occupying there to pay for all their expenses till they make money?

 

This is particularly true of trucking enterprises. They tend to deal with numbers of statements which means a huge quantity of collection time entails company owner themselves. Making an effort to get paid out promptly can eventually become an amazing hassle and this is the reason why you utilize trucking factoring firms who are delighted to help out truckers mainly.

 

As we all recognize, trucking is an incredibly huge field with many agencies out there utilizing hundreds of drivers. The sad thing is, quite a few of these drivers wind up in cash predicaments because they are still awaiting work from six weeks back to actually pay them. When this is the situation for a truck firm, depending on factoring companies for solutions may be the most effective choice left.

 

This means that a truck organization can provide the wages of the workers, keep all the trucks loaded with gas and continue to go up, thrive and expand without continually waiting for the funds which is taking too prolonged to come in. Trucking Business enterprises working without a factoring system used are leaving themselves at notable risk, as competitions cash out rapidly and go on to grow.

 

There's absolutely almost nothing to be stressed about when it comes to utilizing a Factoring firm-- they commonly are not like a banking company or any individual who is going to leave you with a substantial heap of liability to repay. You give them authentic invoices from output you have already accomplished , you are only just speeding up the repayment process.

 

In the United states of America, where truck companies develop, factoring providers are not considered getting a loan in any capacity. This confidential agreement then makes it possible for both groups to make money and delight in a good future-- it provides the factoring firm a guaranteed resource of income to include in the list and it furnishes the trucking firm the needed cash that they worked hard to gain.

 

The trucking company bestows their invoices to the factoring firm. The trucking factoring firm then take the payment amounts from the trucking company's customers. Factoring has been in existence for centuries and has been utilized for many years by a lot of varying markets-- but none much more so than truckers. While you may well miss out on a small part of the money, something like 1-3 % depending upon who you team up with, it indicates that you are acquiring the cash today and can actually start setting the funds to perform.

 

After all, an IOU or an invoice is definitely not going to finance overheads, is it? For trucking firms when the funds can be excellent one day and gone the next, it is up to the drivers to work smartly and to guarantee they are leaving themselves with a notable quantity of time and finance to get through the week up until they are handed over once more.

 

So the next moment your trucking business is enduring some short-term cash flow dilemmas and you are shelling out an excessive amount of time chasing slowly paying clienteles, why not start looking into employing a factoring companies as a way to get your finances and give yourself a more pleasant future in the eyes of your trucking workers and your bank difference?

 

 

 

 

 

 

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Traditional Bank Loans

 

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

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once you have set up Trucking Factoring account it continues as long as you wish it too and the amount of money available to you even can grow as your business grows, giving you the ready cash you need to meet your own obligations.

 

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

 

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

 

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

 

3. 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.You receive interest up-front. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you do not have to continue to pay interest as they take it right off the top, deducting it from the total amount of accounts receivable. So you do not have to worry about monthly loan repayments, and you do not have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

As you can see 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 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

New York City

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Chicago


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Philadelphia


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San Antonio


San Diego


Dallas


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Austin


Jacksonville


Indianapolis


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Columbus


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Charlotte


Detroit


El Paso


Memphis

 

 

Boston


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Denver


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Baltimore


Louisville/Jefferson


Portland


Oklahoma City


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Colorado Springs


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Arlington

 

New Orleans

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Anchorage

Stockton

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Newark

Greensboro

Plano

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Jersey

Chula Vista

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Norfolk

Chandler

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Madison

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Garland

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Irving

Scottsdale

North Las Vegas

Fremont

Gilbert town

San Bernardino

Boise

Birmingham

Rochester

Richmond

Spokane

Des Moines

 

 

 

 

 

Seattle

 

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Philadelphia

 

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