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Will You Help me Get Money? - Our Receivable Factoring Company Can Provide
Your Freight Company The Money Your Company Needs

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Medium-Size freight companies, specifically those who have actually not been around for extremely long, will often find it difficult to secure a loan. Banks are commonly hesitant to provide cash to companies that do not have a great deal of income and assets. They also want evidence of the practicality of a company and therefore require that many operations, especially little ones, been around for a specific amount of time prior to they are willing to turn over any cash. Because of this, a small company typically has few cash generating choices when requires arise. One choice readily available, however commonly overlooked, is invoice factoring. This is an exceptional way for a small company to get money.

 

 

 

 

 

 

 

For The Business Who Wants To Look Better - Pick An Invoice Factoring Company Instead Of A Regular Bank Financing

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

At one time or another, every business, even successful ones, have experienced poor money flow.

Money flow does not have to be a problem any ever more. Do not be deceived -- banks are not the only locations you can get funding. Other solutions are available and you do not have to borrow money. Exactly what is trucking factoring ? One option is called truck factoring. Truck Factoring is the process of offering invoices to an investor rather than waiting to gather the cash from the customer. Oh, the Irony- Truck factoring has a paradoxical difference: It is the financial foundation of numerous of America's most effective businesses. Why is this paradoxical ? Since receivable loan funding is not taught in business colleges, is seldom mentioned in company plans and is relatively unknown to bulk of most of American business individuals.

Yet it is a financial process that frees billions of dollars every year, allowing countless companies to grow and prosper. Accounts Receivable Factoring has been around for thousands of years. Receivable Financing Companies are investors who pay cash for the right to get the future payments on your invoices. An unpaid receivable or invoice has value. It is a debt your customer has to pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business deals, a big portion of the retail company uses a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail deals. Utilizing the purest meaning of the word, these large customer finance business are truly just big Receivable Financing Companies of customer paper. Think about it: You 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 charges vary from two to four percent of the sale). The Advantages Accounts Receivable Factoring can provide many advantages to cash-hungry companies. Rather than wait 30, 60, 90 days or longer for payment on an item that has currently been delivered, a company can factor (sell) its receivables for money at a small price cut off the amount of the invoice. Payroll, marketing efforts, and working capital are just a few of the company needs that can be met with instant  cash.

Invoice Factoring provides the means for a producer to replenish stock and make more items to offer: There is no longer a requirement to await for earlier sales to be paid. Receivable Loan Financing is not just a money management tool for manufacturers: Practically any type business can take advantage of Staffing Factoring. Typically, 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 this week s payroll with a customer s invoice, but you can sell that invoice for the cash to meet those obligations. Using trucking factoring companies is a fast and simple process. The factor purchases the invoice at a discount, usually a couple of percentage points less than the stated value of the invoice.

 

 

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The U.s. Transportation Association
specifies that there around
195,000 work with transportation
companies and
276,000 private providers trucking
firms licensed to
run in the States that transferred,
according to their newest searchings for billions of
products, supplies and
basic products .
There are several common
carriers either going solo or in
groups on our country
highways carrying these
crucial products to our
stores, manufacturingplants and ports.

Furthermore truck factoring
companies benefit
countless of them and offer their
receivable loan facilities
nationwideincluding
including the following states.

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

 

 

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Miami, the second-largest city in Florida and seat of Miami-Dade County, is located in the southeast part of the state, on Biscayne Bay.The area was once the home of the Tequesta Indians until they were nearly wiped out by European diseases and warfare brought on by two centuries of Spanish control of Florida. Miami was founded in 1870 near the site of Ft. Dallas, built in 1835 during the Seminole Indian wars. The city's name is probably derived from �Mayaimi,� an Indian word for �big water.�Miami is the only U.S. city to have been planned by a woman. Julia Tuttle, a Clevelander, arrived there in 1891 and bought several hundred acres on the bank of the Miami River. She convinced New York financier Henry M. Flagler of the area's vast potential and persuaded him to extend his Florida East Coast Railroad to Miami in 1896, the year the city was incorporated. Flagler dredged Miami Harbor, built the renowned Royal Palm Hotel, and promoted the area as a winter playground. Tourists flocked there, and by 1910 the city was a thriving recreational area. Miami survived the collapse of a land speculation boom in the 1920s and severe hurricanes in 1926 and 1935 and continued to grow. It experienced a monumental population boost during the 1960s, when about 260,000 Cuban refugees arrived on its shore. They made a great impact on Miami, which is now a bilingual metropolis.Miami is an international banking and finance center and has the greatest concentration of international and Edge Act banks (banks making only foreign loans and deposits) in North America; these constitute a major employment base. Greater Miami has a highly diversified economy with numerous multinational and Fortune 500 companies. It is a national leader in biomedical technology, and the health care sector is a major industry. Greater Miami is also part of an area known as the Computer Coast of Florida, and its growing technologies include computers, electrical engineering, and plastics manufacturing.Miami is one of the world's leading year-round resort centers. The city is a major transportation hub, and the port of Miami is the world's largest cruise port and a major seaport for cargo. The famous island resort of Miami Beach, incorporated in 1915, is connected to Miami by four causeways.Miami is a major center of commerce, finance, and boasts a strong international business community. According to the ranking of world cities undertaken by the Globalization and World Cities Study Group & Network (GaWC) in 2010 and based on the level of presence of global corporate service organizations, Miami is considered a ""Alpha minus world city"". Miami has a Gross Metropolitan Product of $257 billion and is ranked 20th worldwide in P, and 11th in the United States.Several large companies are headquartered in or around Miami, Miami is a major television production center, and the most important city in the U.S. for Spanish language media. Miami is also a major music recording center, along with many other smaller record labels. The city also attracts many artists for music video and film shootings.Since 2001, Miami has been undergoing a large building boom with more than 50 skyscrapers rising over 400 feet (122 m) built or currently under construction in the city. Miami's skyline is ranked third most impressive in the U.S., behind New York City and Chicago, and 19th in the world according to the Almanac of Architecture and Design. The city currently has the eight tallest (as well as thirteen of the fourteen tallest) skyscrapers in the state of Florida, with the tallest being the 789-foot (240 m) Four Seasons Hotel & Tower.During the mid-2000s, the city witnessed its largest real estate boom since the Florida land boom of the 1920s. During this period, the city had well over a hundred approved high-rise construction projects in which 50 were actually built. In 2007, however, the housing market crashed causing lots of foreclosures on houses. This rapid high-rise construction, has led to fast population growth in the city's inner neighborhoods, primarily in Downtown, Brickell and Edgewater, with these neighborhoods becoming the fastest-growing areas in the city. The Miami area ranks 8th in the nation in foreclosures. In 2011, Magazine named Miami the second most miserable city in the United States due to its high foreclosure rate and past decade of corruption among public officials. In 2012, Magazine named Miami the most miserable city in the United States because of a crippling housing crisis that has cost multitudes of residents their homes and jobs. The metro area has one of the highest violent crime rates in the country and workers face lengthy daily commutes.Miami International Airport and PortMiami are among the nation's busiest ports of entry, especially for cargo from South America and the Caribbean. The Port of Miami is the world's busiest cruise port, and MIA is the busiest airport in Florida, and the largest gateway between the United States and Latin America. Additionally, the city has the largest concentration of international banks in the country, primarily along Brickell Avenue in Brickell, Miami's financial district. Due to its strength in international business, finance and trade, many international banks have offices in Downtown such as , which has its U.S. headquarters in Miami. Miami was also the host city of the 2003 Free Trade Area of the Americas negotiations, and is one of the leading candidates to become the trading bloc's headquarters.As of 2011, PortMiami accounts for 176,000 jobs and has an annual economic impact in Miami of $18 billion. It is the 11th-largest cargo container port in the United States. In 2010, a record 4.33 million passengers traveled through PortMiami. One in seven of all the world�s cruise passengers start from Miami.[] The Civic Center has the country's second-largest concentration of medical and research facilities. It is the center of Miami's growing biotechnology sectors.Tourism is also an important industry in Miami. Along with finance and business, the beaches, conventions, festivals and events draw over 38 million visitors annually into the city, from across the country and around the world, spending $17.1 billion. The Art Deco District in South Beach, is reputed as one of the most glamorous in the world for its nightclubs, beaches, historical buildings, and shopping. Annual events such as the Miami is the home to the National Hurricane Center and the headquarters of the United States Southern Command, responsible for military operations in Central and South America. In addition to these roles, Miami is also an industrial center, especially for stone quarrying and warehousing. These industries are centered largely on the western fringes of the city near Doral and Hialeah.According to the U.S. Census Bureau, in 2004, Miami had the third highest incidence of family incomes below the federal poverty line in the United States, making it the third poorest city in the USA, behind only Detroit, Michigan (ranked #1) and El Paso, Texas (ranked #2). Miami is also one of the very few cities where its local government went bankrupt, in 2001. However, since that time, Miami has experienced a revival: in 2008, Miami was ranked as ""America's Cleanest City"" according to for its year-round good air quality, vast green spaces, clean drinking water, clean streets and city-wide recycling programs. In a 2009 UBS study of 73 world cities, Miami was ranked as the richest city in the United States (of four U.S. cities included in the survey) and the world's fifth-richest city, in terms of purchasing power

 

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Oilfield services Receivables Financing company Calculator
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(call your Oilfield services Receivables Financing company lender and ask for the current payoff amount):
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The largest trucking companies in the U.S. set a revenue record in 2013, but revenuegrowth slowed for the second year in a row.

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

 

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

 

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.

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.

 

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

 

 

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Since the mid 1980s Hernandez Truck & Haul have been successfully running their freight business. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the boom times from 2002 to 2007 Hernandez Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. Times were great for everyone, and the cash was flowing.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. Worse still, it was noticed by Hernandez in early 2008 that even though most of their loyal customers were on time with their payments, there were a few late bloomers who were starting to spread the disease. Spring changed to summer, summer changed to fall, and the CEO of Hernandez, Larry Morrison, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The number of clients who were late in their payments was continuing to grow.He had already been to the administrators to ask what the actual problem was. 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. The had just gone!.The situation looked dire to Larry Morrison. There were goods to ship, employees to pay, trucks to repair and maintain, and continuous overheads that were very extensive when compared to the funds (or lack of) that were incoming. In the evenings he would discuss his concerns with his wife, Angela, and still find no relief from the worry and frustration.

 

""I have a bad feeling, Lin,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would say.Larry would stare off for a moment and then close eyes. He could see the fleet of trucks he had purchased over the years. He could see them on the road, delivering good to all his loyal customers. 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,"" Larry said. ""I've relied too long on the profits I receive from invoices alone. For too long I've been allowing our clients to let their accounts become overdue."" Angela 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'.""Larry knew his wife meant well, but he knew that he was responsible for too many people to sit idly by, waiting for the sun to peak over the clouds.The next day Larry strolled into his office and was determined to sit down and make every phone call to every client who had owed Hernandez money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Larry knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. A waste of time - a waste of money - he had the best intentions, but all the while Larry was realising just how much trouble he was in.Poor Larry spent the whole morning trying in vain to contact his debtors: they promised to call back, dodged his calls, or made small interest-only payments. He was beginning to feel quite despaired when his secretary knocked on his door.

 

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

 

""Sure thing Melissa, come on in."" Larry leaned back in his chair and looked expectantly at Melissaerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Larry."" 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?"" Melissaerley asked.""It sounds 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.""Larry interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""In a nutshell, it is pretty easy. We start by having a professional account manager review our figures and help us set up a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.""I see,� Larry 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. We come to an agreement and the funding starts pouring out.�Larry leaned forward and reviewed the paperwork closely.""It sounds too good to be true, Melissa,"" he said.""Yes, I know; that's exactly what I thought at the beginning. 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, Larry,"" 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. ""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" Larry 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.""Larry thought about this and agreed with Melissaerley. The clients who owed them money were long standing friends and professional resources of Hernandez. Just because they were experiencing difficulties paying their own bills now, Larry was very concerned about losing these relationships. Larry knew only too well that the whole economy was floundering, and that it was not going to change overnight. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. Of course he did not want to lose any more money, but he did not want to lose business either.""Let me go over this tonight Melissa, and thankyou."" Melissa nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Larry keep the shirt on his back, and possibly hers too.Larry 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 Hernandez 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, Hernandez could receive up to fifty-percent cash advances upon load pick-ups. Larry was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""Well, I'll have to tell Jordan about this,"" muttered Larry to himself.Larry's son-in-law, Jordan, loved the idea behind Hernandez and highly respected his father-in-law for having such great business sense, that two years ago he got his capital together and started his own transportation company. At that time Larry knew the struggles Jordan would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Hernandez was hurting, a little guy like Jordan was about to catch his death. Perhaps the antidote to these problems was in freight factoring, and they were about to find out.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Larry found himself beginning to dig his way out of the hole his delinquent account holders 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. Larry recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. He probably wouldn't be in business today had he not learned just in time about freight factoring.

 

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More Trucking Factoring Companies Story Articles

Factoring in the Future of a Trucking Business: A Story Randy Wood let the phone ring on his desk. His morning coffee cooled and his cigarette smoked away in the tray: Randy is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Wood 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 Randy's father had started this business working as an owner-operator and eventually growing Wood 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 Randy's mother had jumped into the cab at times 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 Randy�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. His employees needed to be paid. They had families and household bills too. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. Every time he had to turn down a request, Wood Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Randy allowed himself a good hard chuckle. His father had been against placing 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.

 

Randy believed a successful man is always thinking of his next step. What would be the next step for Wood Trucking? More importantly, how could he 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.

 

But was factoring the answer? There was a lot he didn�t understand about the process. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Now it was time for Randy to do his homework. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His 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. 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 Randy it was quite a relief to be dealing with the factoring company. They were more personable than those loan managers at the bank. 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 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 Randy 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 wouldn�t think poorly of Wood Trucking and the factoring companies appeared capable of handling the accounts receivable in the same polite manner that his father had used over the years.

 

Randy 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 Wood Trucking Company and who knows, move into Canada, which had always been his dream. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

 

 

 

 

 

 

 

Receivables Discounting

 

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Trucking Factoring  Articles

"

�So It is not a loan?� asked Ralph Roberts, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she stated.Ralph was the owner of a small trucking company which had fallen on some hard times recently. Trucking could be a profitable business, and for a little under a decade, it had been for Franklin. He named his business Burke Trucking, named after Melvin and Jack, his two grandfathers. Both of these men had been very hardworking and had set a great example for Franklin.Six months ago disaster struck Franklin'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. Ralph depended on his full fleet, and missing two trucks was devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

Waiting a month or longer for bills to be paid was quite normal. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Ralph 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. Ralph knew she was employed by a Factoring company and that her name was Tracy. Ralph 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. That way we�re protected from a complete loss, but you�re protected from the outrageous fees you would find in a loan from the bank.Ralph nodded. It sounded perfect - perhaps too good?.Tracy 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.�Tracy nodded. �Yes, we get a lot of that. There's no way we want to see you lose your business. We know how hard you work, and that you've invested everything in your business. Sometimes you need help. That's why we do what we do.""Well, I'm very grateful that you came to see me today.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� said Tracy with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Ralph filled the form out, with Tracy available to help him if he needed it. The completed profile gave Tracy and her company all the information they needed on Franklin's business, and with this information they would determine if this business would in fact be suitable for Factoring. Unfortunately, not all companies are. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. As Ralph completed his form, Tracy listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Tracy took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Franklin's hand. He stood before they shook as well, and then smiled. Ralph walked Tracy 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 shut his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. But now, after speaking to Tracy and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off 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.Ralph couldn�t help but think back to when he had first started the business. At twenty-two and straight out of school he had opened a restaurant. It had been successful. Offering home cooking in his own hometown, his business had really prospered.But it wasn't what he really wanted to do. 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 Burke 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.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was about to turn fifty. He was concerned that he just did not have the energy left to try and save the business. But he couldn�t give up. The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He didn�t know how to say quit.And now it seemed as though he would not have to - all because of Factoring. Franklin's eyes opened, he sat forward in his chair and turned on his computer. He had lots to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

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More Trucking Factoring Company Story Articles

The reason why Truck Corporations Work with Factoring Firms.

 

As the operator of your own firm, you may perhaps be much more than conscious already of the difficulty in making sure that cash flow matters do not become a difficulty down the line. After all, the most disappointing thing that can possibly happen for your business is to find yourself dragged in a long and problematic circumstance that leaves you forever trying to find the resources you necessitate on an continuing manner.

 

For just about any firm in this condition, the concern can come for waiting for work to lapse and actually be repaid into your account. Statements, checks, and the like can take a long time to actually to beprocessed which can leave you with momentary cash flow problems. Thank goodness, there are options out there for businesses to look into-- and one of these is factoring companies.

 

Factoring agencies will, in substitution for your accounts, provide you with the cash money today to make sure that you do not need to stress over the waiting time frame which could make paying out the expenses and getting toolsmore complicated. With this style of system, invoice factoring can end up being remarkably valuable for several firms who have to get out of a cash pitfall which they have gotten themselves in.

 

Simply because, depending on the scale of the job, it can take up to 60 days for some companies to get paid out then it is critical to take care of your own back and not leave yourself funds short to settle the expenses. After all, how many firms have two months earnings just lying there to handle all their expenditures till they earn?

 

This is most notably correct of truck firms. They often take care of great deals of statements which means a significant volume of collection time concerns business owner themselves. Making an effort to get compensated promptly can develop into an extraordinary headache and this is the reason why you work with trucking factoring providers who are delighted to help out truckers mainly.

 

As we all understand, trucking is an surprisingly enormous business with a lot of companies out there employing hundreds of vehicle drivers. Unfortunately, many of these drivers wind up in cash difficulties due to the fact that they are still awaiting work from six weeks back to actually pay them. When this is the condition for a truck organization, turning to factoring firms for reinforcement may be the most effective option left.

 

This indicates that a truck corporation can provide the paychecks of the people, keep all the cars topped off with fuel and continue to escalate, evolve and expand without always waiting for the funds which is taking too prolonged to come in. Trucking Enterprises working without a factoring system applied are leaving themselves at significant hazard, as contenders cash out fast and continue to grow.

 

There's absolutely nothing to be stressed about when it comes to utilizing a Factoring firm-- they are not like a banking company or somebody who is going to leave you with a significant stack of debt to repay. You give them genuine invoices from work you have already finalized , you are simply accelerating the repayment system.

 

In the United states of America, where truck establishments flourish, factoring agencies are not considered taking on loan in any capacity. This private agreement then makes it possible for both groups to profit and experience a good future-- it provides the factoring business a warranted asset of revenue to include in the list and it gives the trucking firm the required cash that they sweated to gain.

 

The trucking business presents their invoices to the factoring agency. The trucking factoring company then take the payment amounts from the trucking company's clients. Factoring has beenaround for hundreds of years and has been employed for decades by numerous varying business-- but none exceeding so than truckers. While you may well lose out on a small part of the money, something like 1-3 % depending on who you collaborate with, it implies that you are getting the money today and can actually start setting the resources to work.

 

Once and for all, an IOU or an invoice is definitely not going to finance expenses, is it? For trucking enterprises when the funds can be great one day and gone the next, it is up to the drivers to work smartly and to make certain they are leaving themselves with a notable volume of time and finance to get through the week till they are handed over once more.

 

So the next period your trucking establishment is enduring some momentary capital troubles and you are spending too much time chasing slowly paying customers, why not begin thinking of employing a factoring businesses as a way to get your cash and give yourself a more at ease future in the eyes of your trucking crew 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. These loans can be a life-saver, but they're not always available to every business. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Once the loan is paid off, you can then apply for another loan if the need arises.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not offer loans, and you do not go into debt when you get money from a Trucking Factoring company. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of 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.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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

 

1. You will not Incur Debt. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. 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 great benefit of using the services of a Trucking Factoring company instead of a bank loan is that there is no collateral required for the Trucking Factoring company, because the Trucking Factoring company is buying your accounts receivables. 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. With a Trucking Factoring company you can actually get the money you need faster. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.Interest is Paid Up Front. 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. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very efficient at debt collecting, and this frees up your valuable time to devote to running your company.

 

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

 

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