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Don't Even Think About Going To The Bank Without Reading This Report - Our Freight Factoring Companies Can Give
Your Trucking Company The Money You Want

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freight broker factoring companies

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Medium-Size freight businesses, particularly those who have not been in existence for really long, will commonly find it tough to secure a loan. Banks are typically hesitant to provide money to businesses that do not have a great deal of income and assets. They likewise want evidence of the practicality of a company and thus require that many operations, particularly little ones, been around for a certain quantity of time before they are prepared to hand over any cash. Due to the fact that of this, a small company typically has few money producing options when needs occur. One option readily available, but often overlooked, is factoring. This is an exceptional means for a small business to get money.

 

 

 

 

 

 

 

How You can Get a Quick Loan of $50,000 - Pick A Freight�Factoring Company  Instead Of A Traditional Bank Funding

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

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

Cash flow does not have to be an issue any ever more. Do not be fooled -- banks are not the only places you can get financing. Other solutions are offered and you do not have to borrow. Exactly what is trucking factoring ? One option is called trucking factoring. Truck Factoring is the process of offering accounts receivable to an investor instead of waiting to collect the money from the client. Oh, the Irony- Trucking factoring has a paradoxical difference: It is the monetary backbone of many of America's most successful companies. Why is this ironic ? Since commercial factoring is not instructed in business colleges, is seldom mentioned in company plans and is relatively unknown to the majority of most of American company people.

Yet it is a financial process that releases up billions of dollars every year, allowing thousands of businesses to grow and succeed. Invoice Factoring has been around for countless years. Receivable Funding Businesses are financiers who pay cash for the right to receive the future payments on your invoices. An overdue receivable or invoice has value. It is a debt your customer has to pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business transactions, a big percentage of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a type of factoring in their retail transactions. Utilizing the purest definition of the word, these large consumer finance companies are truly just 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 almost instantly, even though you do not pay up until you are prepared.

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

Trucking Factoring offers the ways for a producer to replenish inventory and make more items to sell: There is no longer a requirement to await for earlier sales to be paid. FACTORING is not just a money management device for manufacturers: Almost any type company can take advantage of Commercial Factoring. Generally, a business that extends credit will have 10 to 20 percent of its annual sales tied up in invoices at any given time. Think for a moment about exactly how much is tied up in 60 days' worth of invoices: You can not pay the power expense or today s payroll with a customer s invoice, but you can offer that invoice for the money to satisfy those obligations. Using trucking factoring companies is a quick and simple procedure. The factor buys the invoice at a discount, typically a few percentage points less than the stated value of the invoice.

 

 

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The U.s. Truck Organization
specifies that there are about
205,000 truck drivers with truck
companies and
300,000 private service providers trucking
companies certified to
run in the United States that carried,
according to their newest searchings for billions of
items, materials and
fundamental products .
There are several usual
providers either going solo or in
teams on our country
roads transferring these
crucial items to our
stores, manufacturingplants and ports.

Plus truck factoring
businesses support
countless of them and offer their
receivable loan facilities
countrywideincluding
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

 

Montgomery /m?nt'g?m?ri/ is the capital of the U.S. state of Alabama and is the county seat of Montgomery County.[7] Named for Richard Montgomery, it is located on the Alabama River, in the Gulf Coastal Plain. As of the 2010 Census, Montgomery had a population of 205,764. It is the second-largest city in Alabama, after Birmingham,[8] and the 103rd largest in the United States. The Montgomery Metropolitan Statistical Area had a 2010 estimated population of 374,536. It is the fourth-largest in the state and 136th among United States metropolitan areas.[9]The city was incorporated in 1819, as a merger of two towns situated along the Alabama River. It became the state capital in 1846, representing the shift of power to the south-central area with the growth of cotton as a commodity crop of the Black Belt and Mobile's rise as a mercantile port. In February 1861, Montgomery was selected as the first capital of the Confederate States of America, until the seat of government moved to Richmond, Virginia, in May of that year. During the mid-20th century, Montgomery was a major site of events in the African-American Civil Rights Movement,[10] including the Montgomery Bus Boycott and the Selma to Montgomery marches.In addition to housing many Alabama government agencies, Montgomery has a large military presence due to Maxwell Air Force Base; public universities Alabama State University, Troy University (Montgomery campus), and Auburn University at Montgomery; private colleges/universities Faulkner University and Huntingdon College; high-tech manufacturing, including Hyundai Motor Manufacturing Alabama;[11] and cultural attractions such as the Alabama Shakespeare Festival and Montgomery Museum of Fine Arts.Two ships of the United States Navy have been named after the city, including USS Montgomery (LCS-8).[12]Montgomery has won several national awards including being voted Best Historic City by USA Today, being named an All-America City in 2014 by the National Civic League, and being named the happiest city in Alabama. Montgomery has also been recognized nationally for its successful, and ongoing downtown revitalization and new urbanism projects with Montgomery having been one of he first cities in the nation to implement Smart Code Zoning.Montgomery's central location in Alabama's Black Belt makes it a processing hub for crops such as cotton, peanuts, and soybeans. In 1840 Montgomery County led the state in cotton production,[52] and by 1911, the city processed 160,000�200,000 bales of cotton annually.[53] Montgomery has long had large metal fabrication and lumber production sectors.[53] Due to its location along the Alabama River and extensive rail connections, Montgomery has and continues to be a regional distribution hub for a wide range of industries and has diversified its economy in recent years with increased employment in sectors such as healthcare, business, government, and manufacturing. Today, the city's Gross Metropolitan Product is $12.15 billion, representing 8.7% of the Gross State Product of Alabama.[54]

 

 

Watch Our Factoring YouTube Video For More Information

 

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

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

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

 

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

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

 

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

 

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

 

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.

 

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

 

 

"

Bailey Truck & Haul have been operating their business since the mid 1980s. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the heady times from 2002 to 2007, Bailey was a top rated accounts receivable mastermind of 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. 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. And worse yet, Bailey 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, Samuel Mcdonald, CEO of Bailey felt a chill go down his spine whenever he would look at the weekly A/R reports. There was a growing list of clients who now owed them back debt.He had gone to his administrators and asked them what the problem had been. Were they doing things different, or wrong, when it came to collecting overdue accounts? By his bookkeepers records, this wasn't the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Bailey money had jumped ship and decided to leave him holding the bag.

 

. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Bailey hadn't gone elsewhere. They had just gone home.To Samuel Mcdonald the situation looked desperate. He had employees to pay, goods to ship, trucks to maintain and overhead that was almost unbearable when compared against the lack of funds that were coming in. In the evenings he would discuss his concerns with his wife, Mildred, 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 ask.Samuel would stare off into the distance, and then slowly close his eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them on the road, delivering good to all his loyal customers. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What on earth was happening to create the death of his business?""I think I know what it could be,"" Samuel said. ""I've relied too long on the profits I receive from invoices alone. For too long I've been allowing our clients to let their accounts become overdue."" Linda could only grab her husband's hand and look at him lovingly, ""it is a hard economy. It might be awhile until things get settled up.

 

""Mildred was trying so hard to support her husband in these worrying times, while Samuel was weighed down with the worry of how he was going to handle this situation he found himself in.The next day Samuel strolled into his office and was determined to sit down and make every phone call to every client who had owed Bailey money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Samuel 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. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. Wasting money, wasting time - even with the best of intentions, Samuel knew that he was in trouble.

 

After a half day of contacting debtors in vain - they dodged his calls or promised to call back at worst or made minimal interest-only payments at best - he was about to throw in the towel when his secretary Joyerley knocked at his door.

 

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

 

""Sure thing Joy, come on in."" Samuel relaxed back into his chair and looked up at Joyerley.""Well Samuel, 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?"" she asked.""It sounds vaguely familiar. What is factoring""? he asked.""Well,"" she began, ""It�s actually quite simple really.

 

Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Immediately?"" Samuel interrupted.""Immediately, yes"" she added, ""In a nutshell, it is pretty easy. We can have an expert account manager review our numbers and help us complete a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It�s a broad view.""Samuel replied cautiously ""I see - and what happens then?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. 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. The funding commences once we�ve arrived at an agreement.�Samuel was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Joy,"" 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, Samuel,"" she underlined a paragraph on the paper before him.""Just how flexible?"" he asked.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. Apparently they can figure this all out in two to four days.

 

""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. 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 Samuel.He took a deep breath and looked at his secretary with something she recognized as hope.""Precisely�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Samuel took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Bailey Truck & Haul were professional resources of the company, but they were also long-standing friends. They did not want to throw away these relationships because they were having trouble paying their bills now. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. 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 Joy, and thankyou."" Joy stood up and left Samuel's office, with the nice feeling of knowing that she may just have solved a very serious problem.Samuel 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 Bailey 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. Samuel was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Samuel 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 Jack about this,"" Samuel muttered to himself.Jack is Samuel's son-in-law, and he really admired the ideas behind Bailey, so much so that only two years before he had started his own transportation service business. At that time Samuel knew the struggles Jack would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Bailey was struggling then the little guys, like Jack, were going to be in even more trouble.

 

But, an antidote may have been found in freight factoring and Samuel was soon 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, Samuel found himself beginning to dig his way out of the hole his delinquent account holders had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They used that time to refocus their efforts in being competitive in new territories. Samuel recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. If Samuel hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

Montgomery /m?nt'g?m?ri/ is the capital of the U.S. state of Alabama and is the county seat of Montgomery County.[7] Named for Richard Montgomery, it is located on the Alabama River, in the Gulf Coastal Plain. As of the 2010 Census, Montgomery had a population of 205,764. It is the second-largest city in Alabama, after Birmingham,[8] and the 103rd largest in the United States. The Montgomery Metropolitan Statistical Area had a 2010 estimated population of 374,536. It is the fourth-largest in the state and 136th among United States metropolitan areas.[9]The city was incorporated in 1819, as a merger of two towns situated along the Alabama River. It became the state capital in 1846, representing the shift of power to the south-central area with the growth of cotton as a commodity crop of the Black Belt and Mobile's rise as a mercantile port. In February 1861, Montgomery was selected as the first capital of the Confederate States of America, until the seat of government moved to Richmond, Virginia, in May of that year. During the mid-20th century, Montgomery was a major site of events in the African-American Civil Rights Movement,[10] including the Montgomery Bus Boycott and the Selma to Montgomery marches.In addition to housing many Alabama government agencies, Montgomery has a large military presence due to Maxwell Air Force Base; public universities Alabama State University, Troy University (Montgomery campus), and Auburn University at Montgomery; private colleges/universities Faulkner University and Huntingdon College; high-tech manufacturing, including Hyundai Motor Manufacturing Alabama;[11] and cultural attractions such as the Alabama Shakespeare Festival and Montgomery Museum of Fine Arts.Two ships of the United States Navy have been named after the city, including USS Montgomery (LCS-8).[12]Montgomery has won several national awards including being voted Best Historic City by USA Today, being named an All-America City in 2014 by the National Civic League, and being named the happiest city in Alabama. Montgomery has also been recognized nationally for its successful, and ongoing downtown revitalization and new urbanism projects with Montgomery having been one of he first cities in the nation to implement Smart Code Zoning.Montgomery's central location in Alabama's Black Belt makes it a processing hub for crops such as cotton, peanuts, and soybeans. In 1840 Montgomery County led the state in cotton production,[52] and by 1911, the city processed 160,000�200,000 bales of cotton annually.[53] Montgomery has long had large metal fabrication and lumber production sectors.[53] Due to its location along the Alabama River and extensive rail connections, Montgomery has and continues to be a regional distribution hub for a wide range of industries and has diversified its economy in recent years with increased employment in sectors such as healthcare, business, government, and manufacturing. Today, the city's Gross Metropolitan Product is $12.15 billion, representing 8.7% of the Gross State Product of Alabama.[54]

 

 

More Trucking Factoring Companies Story Articles

Factoring in the Future of a Trucking Business: A Story Timothy Allen let the phone ring on his desk. His morning coffee cooled and his cigarette smoked away in the tray: Timothy is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Allen Trucking Company was at a turning point of growth and Timothy had to decide if signing with a factoring company was the right way forward.

 

More than forty years ago Timothy's father had started this business working as an owner-operator and eventually growing Allen 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 Timothy'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 Timothy's hands and he needed to ensure that this business would be left in great 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, Allen Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Timothy 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?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). He knew his father's days were long gone and new technology was very important for the business, like having Qualcomm to reduce communication time for bills of lading.

 

Timothy knew he was right in his forward thinking. What would be the next step for Allen Trucking? More importantly, how could he 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? If he was being honest, he did not really understand how it all worked. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of 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 Timothy to do his homework. Timothy had heard that there were companies that charged for same day money transfers and would only advance a percentage of the money owed to your company while holding the rest in a private account if they didn�t get their bill payment within 60 or so days. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! 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 friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. 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. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He didn�t mind signing an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. Many companies offered a non-recourse factoring program that suited him just fine. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It sounded like a great scheme to him.

 

For Timothy it was quite a relief to be dealing with the factoring company. They were more personable than those loan managers at the bank. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar for a handout. The factoring companies were not interested in his credit nor the financial problems his father had experienced in the past. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Timothy 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 Allen Trucking and the factoring companies appeared capable of handling the accounts receivable in the same polite manner that his father had used over the years.

 

Feeling happier now, Timothy stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. He suddenly realized that, with this new cash flow, he could actually expand Allen 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.

 

 

 

 

 

Nursestaffingagency.Org

 

Rjbstudio.Com

 

Watch Our Freight Factoring Companies Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� Miguel Henderson asked as he leaned back in his chair, crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she said.Miguel Henderson 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 Timothy. He named his business Ferguson Trucking, named after Guy and Dustin, his two grandfathers. Both of these men had been very hardworking and had set a great example for Timothy.Six months ago disaster struck Timothy's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. The financial security of Timothy's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.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. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Miguel wasn�t a bad owner, and he hadn�t messed up. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.That�s where the woman across the desk came in. Miguel knew she was employed by a Factoring company and that her name was Felicia. Miguel 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 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. 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.Miguel nodded. It sounded good to him, almost too good.Felicia laughed. �I'm not sure that you believe me,� she chuckled.�No, I do, I just think it sounds a bit too good to be true. I actually thought I might end up losing my business.�Felicia smiled, agreeing. �We get that a lot. There's no way we want to see you lose your business. We know how hard you work, and that you've invested everything in your business. We all need help sometimes. That�s 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,� Felicia said with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Miguel filled the form out, with Felicia available to help him if he needed it. The profile filled Felicia and her company in on Timothy�s company, and would help them determine if he was suitable for factoring. In truth, not all companies were. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. Listening as Miguel filled out his form, Felicia was pretty sure he was a perfect candidate for factoring.Felicia took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Timothy's hand. He also stood up, and they smiled at each other. Miguel walked Felicia 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. Talking to Felicia 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. He could feel it all fading away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.His mind wandered back to the very beginning, when he first started his business. At twenty-two and straight out of school he had opened a restaurant. It had been really 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 long and hard, and then he decided to sell the restaurant. He took six months off, and during that time he decided to create Ferguson Trucking. And that's exactly what he did. For the second time in his short life he created a company from the ground up. The business had been an instant success.And then the trucks went down, and his success looked to be in flux. He was nearing fifty. He didn�t think he had it in him, to save this company. But he couldn�t give up. The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He didn�t know how to say quit.And now, because of factoring, he was sure he wouldn�t have to. Miguel opened his eyes, sat forward, turned his computer on. He had things 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 Corporations Employ Factoring Firms.

 

As the owner of your own business, you may be more than mindful already of the difficulty in making sure that capital matters do not become a problem down the line. After all, the worst thing that can potentially occur for your business is to find yourself dragged in a long and difficult condition that leaves you forever trying to find the money you require on an continuous manner.

 

For any firm in this situation, the complication can come for waiting for work to clear up and actually be paid out into your balance. Statements, checks, and the like could take a long time to actually to beprocessed which may leave you with momentary available resources issues. Fortunately, there are alternatives out there for enterprises to delve into-- and one of these is factoring companies.

 

Factoring companies will, in substitution for your invoices, give you with the money right away so you do not need to stress over the waiting period that could make paying the bills and getting materialsmore complicated. With this kind of setup, invoice factoring can become incredibly beneficial for several establishments who ought to avoid a cash ploy which they have found themselves in.

 

Simply because, relying on the scale of the work, it can take up to 60 days for some business enterprises to get compensated then it is important to take care of your own back and certainly not leave yourself funds short to pay the bills. After all, how many enterprises have two months revenue just lying there to handle all their costs until they get paid?

 

This is most notably true of truck firms. They tend to take care of good deals of statements which means a huge quantity of collection time concerns company owner themselves. Attempting to get paid out promptly can turn into an unbelievable hassle and this is exactly why you work with trucking factoring companies who are delighted to help out truckers primarily.

 

As all of us understand, trucking is an surprisingly massive industry with numerous companies out there utilizing hundreds of drivers. Sadly, numerous of these drivers wind up in money predicaments due to the fact that they are still anticipating work from six weeks in the past to actually compensate them. When this is the scenario for a truck organization, turning to factoring firms for support could be the most effective alternative left.

 

This means that a trucking firm can provide the paychecks of the crew, keep all the trucks loaded with gas and continue to surmount, progress and expand without constantly waiting for the finances which is taking too long to come in. Trucking Companies working without a factoring system applied are leaving themselves at significant danger, as rivals cash out fast and carry on to grow.

 

There's genuinely almost nothing to be stressed about when it comes to employing a Factoring firm-- they usually are not like a bank or a person who is going to leave you with a substantial pile of personal debt to repay. You give them genuine invoices from work you have already finalized , you are only just expediting the payment system.

 

In the United states of America, where trucking establishments grow, factoring agencies are not considered accepting loan of in any capacity. This private agreement then makes it possible for both parties to profit and indulge in a worry-free future-- it provides the factoring agency a guaranteed asset of income to put into the list and it supplies the trucking company the required finances that they worked hard to obtain.

 

The trucking business provides their statements to the factoring firm. The trucking factoring firm then receive the installment payments from the trucking company's clients. Factoring has beenaround for hundreds of years and has been adopted for many years by many diverse business sectors-- but none more so than truckers. While you may well lose out on a small part of the money, something like 1-3 % depending on who you team up with, it signifies that you are getting the resources today and can actually start setting the money to work.

 

Once and for all, an IOU or an invoice is absolutely not going to fund bills, is it? For trucking companies when the money can be fantastic one day and gone the next, it is up to the vehicle drivers to work smartly and to ensure they are leaving themselves with a significant quantity of time and money to get through the week until they are paid once again.

 

So the next moment your trucking business is bearing some short-term capital issues and you are shelling out a lot of time chasing sluggish paying clients, why not start off thinking of utilizing a factoring companies as a method to get your money and give yourself a more comfortable future in the eyes of your trucking staff 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 offer loans, and you do not go into debt when you get money from a Trucking Factoring company. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to sell. Once you have set up Trucking Factoring account it continues as long as you wish it too and the amount of money available to you even can grow as your business grows, giving you the ready cash you need to meet your own obligations.

 

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

 

2. There's no collateral required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

3. You'll receive the money faster. Using a Trucking Factoring company means that you'll get the finance quicker. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.

 

4.Interest is Paid Up Front. With a bank loan interest continues to build, and this has to be paid the whole time you have a business loan; however with a Trucking Factoring company there is no interest - they take it right off the top by deducting it from the total amount of receivable accounts. So 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.

 

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.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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