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They Grinned When the Banker Spoke to Me in French - Our Freight Invoice Factoring Companies Can Provide
Your Trucking Company The Cash You Need

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Medium-Size freight brokerage businesses, especially those who have not been around for really long, will frequently find it hard to secure a loan. Banks are often reluctant to provide cash to companies that do not have a lot of income and properties. They likewise want evidence of the practicality of a business and hence require that most operations, specifically little ones, been around for a certain amount of time prior to they want to turn over any money. Because of this, a small company typically has a couple of money producing alternatives when requires occur. One choice offered, however often neglected, is invoice factoring. This is an excellent method for a medium-size business to obtain cash.

 

 

 

 

 

 

 

The Secret to Being Wealthy - Choose A Freight�Brokerage Factoring Company  Instead Of A Traditional Bank Financing

How to Increase Cash Flow Without Borrowing -Cash Money flow is one of the primary reasons businesses fail.

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

Money flow does not have to be an issue any more. Do not be fooled -- banks are not the only places you can get funding. Other solutions are available and you do not have to borrow. What is truck factoring ? One option is called truck factoring. Trucking Factoring is the process of selling accounts receivable to an investor rather than waiting to collect the cash from the client. Oh, the Irony- Trucking factoring has an ironic difference: It is the financial backbone of numerous of America's most successful businesses. Why is this ironic ? Since receivable loan funding is not taught in business colleges, is seldom discussed in company strategies and is relatively unknown to bulk of most of American company individuals.

Yet it is a monetary process that frees billions of dollars every year, enabling countless companies to grow and prosper. Receivable Loan Funding has been around for thousands of years. Receivable Funding Companies are financiers who pay money 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 actually agreed pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business transactions, a big percentage of the retail business uses a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail deals. Utilizing the purest meaning of the word, these big customer finance business are really just big Receivable Financing Companies of customer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The store gets paid practically immediately, although you do not pay until you are ready.

For this service, the credit card business charges Sears a fee (typical common normal charges vary from 2 to four percent of the sale). The Advantages Factoring can offer many advantages to cash-hungry business. Instead of waiting 30, 60, 90 days or longer for payment on a product that has actually already been delivered, a company can factor (sell) its receivables for cash at a small price cut off the amount of the invoice. Payroll, marketing efforts, and working capital are simply a few of the business needs that can be met with instant  cash.

Receivable Loan Financing offers the ways for a producer to replenish stock and make even more products to offer: There is no longer a need to wait for earlier sales to be paid. Receivable Loan Financing is not simply a cash management tool for manufacturers: Practically any type company can benefit from Receivable Loan Funding. Generally, a company that extends credit will have 10 to 20 percent of its yearly sales tied up in accounts receivable at any given time. Think for a minute about exactly how much is bound in 60 days' worth of invoices: You can not pay the power bill or today s payroll with a client s invoice, however you can offer that invoice for the cash to meet those responsibilities. Using trucking factoring companies is a fast and simple procedure. The factor buys the invoice at a price cut, typically a couple of percentage points less than the face value of the invoice.

 

 

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albuquerque-factoring-companies

 

The U.s. Truck Association
mentions that there are about
195,000 truck drivers with freight trucking
businesses and
300,000 personal providers trucking
firms certified to
operate in the States that carried,
according to their most current data of millions
items, supplies and
fundamental materials .
There are a number of usual
carriers either going solo or in
teams on our country
roads transferring these
important products to our
stores, manufacturingplants and shipping ports.

Plus truck factoring
corporations help
numerous of them and offer their
receivable loan facilities
countrywidecomprising
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

 

"

Albuquerque lies at the center of the New Mexico Technology Corridor, a concentration of high-tech private companies and government institutions along the Rio Grande. Larger institutions whose employees contribute to the population are numerous and include Sandia National Laboratories, Kirtland Air Force Base, and the attendant contracting companies which bring highly educated workers to a somewhat isolated region. Intel operates a large semiconductor factory or ""fab"" in suburban Rio Rancho, in neighboring Sandoval County, with its attendant large capital investment. Northrop Grumman is located along I-25 in northeast Albuquerque, and TempurPedic is located on the West Mesa next to I-40.The solar energy and architectural-design innovator Steve Baer located his company, Zomeworks, to the region in the late 1960s; and Los Alamos National Laboratory, Sandia, and Lawrence Livermore National Laboratory cooperate here in an enterprise that began with the Manhattan Project. In January 2007, opened an 800,000-square-foot (74,000 m2) mattress factory in northwest Albuquerque. ., announced in January 2008 they will open a 200,000-square-foot (19,000 m2) facility manufacturing receivers for concentrated solar thermal power plants (CSP) and 64MW of photovoltaic (PV) modules. The facility closed in 2012. Magazine rated Albuquerque as the best city in America for business and careers in 2006 and as the 13th best (out of 200 metro areas) in 2008. The city was rated seventh among America's Engineering Capitals in 2014 by Magazine. Albuquerque ranked among the Top 10 Best Cities to Live by & World Report in 2009 and was recognized as the fourth best place to live for families by the TLC network. It was ranked among the Top Best Cities for Jobs in 2007 and among the Top 50 Best Places to Live and Play by National Geographic Adventure magazine.

 

"

 

Watch Our Trucking Factoring YouTube Videos For More Information

 

Factoring Companies Calculator
This calculator will show you how much you will make by using our Factoring Companies . But, as your about to discover, you will certainly notice the increased cash flow that will occur when you use our Factoring Companies
Enter the principal balance of your Factoring Companies
(call your Factoring Companies lender and ask for the current payoff amount):
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Locate truck driving jobs by city, state, position andenefits offered. Search current driving jobs and fill out the EZ truck driver application customized for cdl trucking jobs

 

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

 

EveryJob is a free service dedicated to helping professional truck drivers find new truck driving jobs with the best trucking companies hiring today!

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

 

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

 

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

 

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

 

 

"

Walker Truck & Haul have been operating their business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the boom times from 2002 to 2007 Walker Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. Cash was flowing and times were good for all.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed to a crawl

 

. Worse still, it was noticed by Walker in early 2008 that even though most of their loyal customers were on time with their payments, there were a few late bloomers who were starting to spread the disease. And as spring turmed to summer and summer into the early days of fall, Matthew Cox, CEO of Walker 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 already been to the administrators to ask what the actual problem was. Were they doing things different, or wrong, when it came to collecting overdue 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. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Walker hadn't gone elsewhere. They had just gone home.To Matthew Cox the situation looked desperate. 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. At night he would speak to his wife Deborah and shake his head in frustration.

 

""Lin, I have a really bad feeling,"" he would say with deep woe.""Well, what do you think it is?"" she would say.Matthew would stare off into the distance, and then slowly close his eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them traveling, bringing goods to all of his clients. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. Why couldn�t he work out how to resolve this financial problem with his business?""I think I know what it could be,"" said Matthew. ""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.

 

""Matthew knew very well that Deborah was only trying to help, but his responsibilities weighed heavily on his shoulders and he knew he had better do something soon to resolve this situation.The next day Matthew strolled into his office and was determined to sit down and make every phone call to every client who had owed Walker money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Matthew 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. A waste of time - a waste of money - he had the best intentions, but all the while Matthew was realising just how much trouble he was in.After a half day of contacting debtors in vain - they dodged his calls or promised to call back at worst or made minimal interest-only payments at best - he was about to throw in the towel when his secretary Dianaerley knocked at his door.

 

""Matthew, can I have a word?"" she queried, standing in the doorway.

 

""Of course Diana, please come in."" Matthew relaxed back into his chair and looked up at Dianaerley.""Well Matthew, 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 it?"" he said.She began, ""Well, it is really very simple. So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Immediately?"" Matthew interrupted.""Immediately, yes"" she added, ""it is actually very simple. We start by having a professional account manager review our figures and help us set up a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It provides a very broad view.""I see,� Matthew said. �And then what?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

This company tells us what the cost will be to purchase factoring for our accounts receivable. The funding commences once we�ve arrived at an agreement.�Matthew leaned forward and reviewed the paperwork closely.""I do not know, Diana - it just sounds too good to be true"", Matthew said quietly.""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, Matthew,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" asked Matthew.""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.

 

""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" Matthew said.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.""Matthew took a moment to think about this solution, and agreed with his secretary. The clients who owed them money were long standing friends and professional resources of Walker. Matthew wasn't prepared to lose these relationships just because they were having financial issues at the moment. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both 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 Diana, and thankyou."" Diana nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Matthew keep the shirt on his back, and possibly hers too.Matthew sat behind his desk and looked over the details Diana had not mentioned in their meeting. What other issues could freight factoring help Walker with? With his pencil gliding down the sheet he noticed that the factoring company could help fray the cost of fuel with fuel discount cards and fuel advances. In fact, Walker could receive up to fifty-percent cash advances upon load pick-ups. Matthew 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 Jeffrey about this,"" Matthew muttered to himself.Jeffrey is Matthew's son-in-law, and he really admired the ideas behind Walker, so much so that only two years before he had started his own transportation service business. At that time Matthew knew the struggles Jeffrey would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Walker was hurting, a little guy like Jeffrey was about to catch his death. But, maybe the answer for both of them was in freight factoring, and Matthew was going to find out very soon.Some months later, having successfully gone through the entire process of the application, having experts study his credit history and statements and review his accounts receivable, Matthew found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.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. Matthew 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.

 

"

 

"

Albuquerque lies at the center of the New Mexico Technology Corridor, a concentration of high-tech private companies and government institutions along the Rio Grande. Larger institutions whose employees contribute to the population are numerous and include Sandia National Laboratories, Kirtland Air Force Base, and the attendant contracting companies which bring highly educated workers to a somewhat isolated region. Intel operates a large semiconductor factory or ""fab"" in suburban Rio Rancho, in neighboring Sandoval County, with its attendant large capital investment. Northrop Grumman is located along I-25 in northeast Albuquerque, and TempurPedic is located on the West Mesa next to I-40.The solar energy and architectural-design innovator Steve Baer located his company, Zomeworks, to the region in the late 1960s; and Los Alamos National Laboratory, Sandia, and Lawrence Livermore National Laboratory cooperate here in an enterprise that began with the Manhattan Project. In January 2007, opened an 800,000-square-foot (74,000 m2) mattress factory in northwest Albuquerque. ., announced in January 2008 they will open a 200,000-square-foot (19,000 m2) facility manufacturing receivers for concentrated solar thermal power plants (CSP) and 64MW of photovoltaic (PV) modules. The facility closed in 2012. Magazine rated Albuquerque as the best city in America for business and careers in 2006 and as the 13th best (out of 200 metro areas) in 2008. The city was rated seventh among America's Engineering Capitals in 2014 by Magazine. Albuquerque ranked among the Top 10 Best Cities to Live by & World Report in 2009 and was recognized as the fourth best place to live for families by the TLC network. It was ranked among the Top Best Cities for Jobs in 2007 and among the Top 50 Best Places to Live and Play by National Geographic Adventure magazine.

 

"

 

More Trucking Factoring Companies Story Articles

"

The Future of a Trucking Company, and Factoring The phone was ringing on his desk, and Ruben Ryan just sat there letting it ring. He let his morning coffee cool and left his cigarette to ash itself in the tray, because he is trying to make the biggest decision ever for his trucking company. Ryan 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.

 

Ruben�s father had started as an owner-operator and had grown Ryan Trucking Company into a fifteen trailer fleet over forty years. Yes, they had survived some very difficult times when it appeared like they might go under, and even Ruben'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. Now the company was solely in Ruben�s hands and he wanted to live to see it in better shape for his sons.

 

There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. He had employees to pay. They had families and household bills too. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. He knew that turning down these requests made Ryan Trucking look inefficient and weak in what was currently a strong market.

 

His father would have told him to wait and to take his time adding on new technology. Ruben chuckled, thinking about his father. His father had been against placing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). His father days were long gone and technology was actually an important improvement for the business such as having Qualcomm to cut down on fruitless time communicating on the phone for bills of lading.

 

Ruben knew he was right in his forward thinking. How would he take Ryan Trucking to the next level? 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? If he was being honest, he did not really understand how it all worked. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. Without 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.

 

Ruben had to really consider what his next step was going to be. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! 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. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

But it turned out to be quite easy. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He was quite happy to sign an exclusive contract. 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. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It was good money.

 

It was really refreshing dealing with the factoring people. They were more personable than those loan managers at the bank. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar for a handout. The factoring companies were not interested in his credit nor the financial problems his father had experienced in the past. Factoring was based on the credit of his customers and on their reliability which worked well for Ruben because he and his father had built up good strong relationships over decades with their list of clients. So he knew they would understand when the factoring company contacted them for the invoices. His clients would not have any problems, nor would they think poorly of Ryan Trucking, because the factoring companies handle themselves in such a polite and professional manner, similar to the way his father had managed the business in the past.

 

Feeling happier now, Ruben stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. With the capabilities of this new cash flow, Ruben could actually expand Ryan Trucking Company further across the country and perhaps even go international into Canada. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

"

 

 

View Our Truck Factoring Companies Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So, this is not a loan?� Harry Woods asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Harry smiled at him, shaking her head.�No, not exactly,� she stated.Harry 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 Edward. He named his business Ross Trucking, named after Benjamin and Michael, his two grandfathers. They had both been hardworking men, and had done a lot to make Harry the same.Six months ago disaster struck Edward'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. Harry depended on his full fleet, and missing two trucks was devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Harry had on hand.A big problem a lot of trucking companies came across was how bills were paid in the industry. Waiting a month or longer for bills to be paid was quite normal. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Harry 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.And that's why he found himself across the desk from this woman. Her name was Linda and she worked for a factoring company. Harry 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 are not giving you finance to be repaid later: we are purchasing something from you, and when you can you can buy it back. This is a win-win situation: we are protected from a total loss, and you're protected from the ridiculous fees and charges you'd have to pay if you borrowed from a bank.Harry agreed. It sounded perfect - perhaps too good?.The woman laughed. �You look like you don�t believe me,� she said.�Oh no, I do: it just sounds too good to be true. I actually thought I might end up losing my business.�Linda smiled, agreeing. �We get that a lot. Listen, I�d hate to see you lose your company. We know how hard you work, and that you've invested everything in your business. Sometimes you need help. That�s what we�re here for.""Well, I'm very grateful that you came to see me today.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Linda with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.

 

Harry filled the form out, with Linda available to help him if he needed it. The completed profile gave Linda and her company all the information they needed on Edward'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 businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. Listening as Harry filled out his form, Linda was pretty sure he was a perfect candidate for factoring.When the form was done Linda took it and slid it into her briefcase. She then stood, reached across the desk and shook Edward�s hand. He stood before they shook as well, and then smiled. Harry walked Linda to the door where they said 'Goodbye', then he went back into his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He 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 Linda and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.The long nights, where he couldn�t sleep. The terrifying panic attacks that occurred regardless of where he was. Already he could feel all the stress start to drain away. He 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. Home cooking in his hometown, and he had done very well.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 Ross Trucking. And that's exactly what he did. Once again he built 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. Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He did not want to quit - both for himself and for his staff members.And now, because of factoring, he was sure he wouldn�t have to. Edward's eyes opened, he sat forward in his chair and turned on his computer. 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

The reason why Trucking Establishments Work with Factoring Companies.

 

As the manager of your own business enterprise, you may well be much more than wary already of the hardship in making certain that cash flow concerns do not become a difficulty down the line. After all, the worst thing that can potentially develop for your firm is to find yourself dragged in a long and perplexing condition that leaves you forever looking for the money you require on an on-going basis.

 

For any type of company in this condition, the trouble can come for waiting for work to lapse and actually be brought in into your account. Statements, checks, and the like can take a while to actually to be taken care of which can leave you with temporary capital troubles. Gratefully, there are opportunities out there for enterprises to explore-- and just one of these is factoring firms.

 

Factoring companies will, in trade for your statements, give you with the resources today to make sure that you do not need to stress over the lingering period which could make paying off the bills and purchasing toolsmore difficult. With this type of arrangement, invoice factoring can end up being exceptionally practical for countless enterprises who need to avoid a money trap which they have gotten themselves in.

 

Due to the fact that, basing on the scale of the project, it can take up to 60 days for many enterprises to get compensated then it is crucial to take care of your own back and certainly not leave yourself cash short to pay off the bills. After all, how many business enterprises have two months revenue just occupying there to address all their overheads till they get paid?

 

This is particularly true of trucking companies. They tend to deal with great deals of invoices which means a substantial amount of collection time concerns business owner themselves. Seeking to get paid promptly can eventually become an incredible headache and this is the reason why you work with truck factoring companies who are pleased to help out truckers particularly.

 

As most of us determine, trucking is an exceptionally massive business with a lot of agencies out there utilizing hundreds of operators. However, plenty of these drivers wind up in money dilemmas considering that they are still awaiting work from six weeks earlier to actually compensate them. When this is the circumstance for a truck company, turning to factoring providers for solutions might be the most recommended alternative left.

 

This signifies that a truck organization can pay off the salaries of the workers, keep all the vehicles refilled with gas and continue to go up, flourish and expand without continually waiting for the cash which is taking too prolonged to come in. Trucking Enterprises working without a factoring system established are leaving themselves at critical risk, as competitors cash out fast and go on to develop.

 

There's genuinely not much to be troubled about when it comes to utilizing a Factoring contractor-- they usually are not like a financial institution or any individual who is going to leave you with a huge stockpile of liability to repay. You give them legitimate invoices from job you have already completed , you are merely speeding the payment system.

 

In the United states of America, where truck companies flourish, factoring enterprises are not considered getting a loan in any capacity. This confidential contract then makes it possible for both groups to make money and take pleasure in a convenient future-- it gives the factoring company a secured resource of revenue to put into the list and it furnishes the trucking firm the required funds that they worked hard to gain.

 

The trucking establishment presents their accounts to the factoring business. The trucking factoring provider then acquire the payment amounts from the trucking company's clients. Factoring has been in existence for centuries and has been adopted for several years by numerous different fields-- but none more so than truckers. While you may miss out on a small part of the money, something like 1-3 % depending upon who you work with, it indicates that you are receiving the money today and can actually start off setting the cash to work.

 

Once and for all, an IOU or an invoice is not actually going to finance overheads, is it? For trucking companies when the income can be excellent one day and gone the next, it is up to the drivers to work sensibly and to guarantee they are leaving themselves with a notable volume of time and finance to get through the week until they are paid once again.

 

So the next occasion your trucking establishment is having some short-term cash flow concerns and you are investing an excessive amount of time chasing slow paying clienteles, why not begin considering utilizing a factoring businesses as a way to get your finances and give yourself a more comfortable future in the eyes of your trucking staff and your bank balance?

 

 

 

 

 

 

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Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. 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.

 

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. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have 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 a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

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. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

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

 

3. You'll receive the money faster. With a Trucking Factoring company you can actually get the money you need faster. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.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, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

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

 

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