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My Company has 9 New Products - Imagine - Our Accounts Receivable Factoring Company Can Give
Your Truck Company The Cash You Want

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trucking and factoring

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Small freight brokerage businesses, specifically those who have not been around for extremely long, will typically discover it tough to secure a loan. Banks are commonly hesitant to lend cash to companies that do not have a lot of earnings and possessions. They likewise want evidence of the viability of a company and thus require that a lot of operations, particularly little ones, been around for a particular amount of time prior to they want to hand over any money. Because of this, a medium-size company frequently has a couple of cash producing options when needs arise. One alternative offered, however typically ignored, is invoice factoring. This is an exceptional means for a small business to obtain money.

 

 

 

 

 

 

 

The Most Expensive Mistake of Your Life - Pick A Receivable Loan C0mpany Instead Of A Typical Bank Funding

Exactly how to Enhance Cash Flow Without Loaning -Cash Money flow is one of the main reasons companies fail.

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

Money flow does not have to be an issue any more. Do not be deceived -- banks are not the only locations you can get funding. Other options are available and you do not have to borrow money. Exactly what is truck factoring ? One option is called truck factoring. Truck Factoring is the procedure of selling invoices to a financier instead of waiting to gather the cash from the customer. Oh, the Irony- Truck factoring has a paradoxical distinction: It is the financial foundation of many of America's most effective companies. Why is this ironic ? Because receivable financing is not taught in business colleges, is rarely mentioned in company strategies and is relatively unknown to the majority of most of American business people.

Yet it is a financial process that frees billions of dollars every year, allowing thousands of businesses to grow and prosper. Trucking Factoring has actually been around for countless years. Receivable Loan Financing Businesses are investors who pay money for the right to get the future payments on your invoices. An overdue receivable or invoice has value. It is a debt your customer has agreed pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business transactions, a large portion of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail transactions. Utilizing the purest meaning of the word, these big consumer finance companies are really just big Accounts Receivable Factoring Companies of customer paper. Consider it: You make a purchase at Sears and charge it to your MasterCard. The store gets paid almost immediately, even though you do not pay until you are prepared.

For this service, the credit card company charges Sears a charge (typical common normal fees vary from two to 4 percent of the sale). The Advantages Receivable Loan Funding can offer many benefits 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 little discount off the dollar value of the invoice. Payroll, advertising efforts, and working capital are just a few of the business requirements that can be met with instant  cash.

Commercial Factoring provides the ways for a producer to replenish stock and make more items to offer: There is no longer a need to wait for earlier sales to be paid. FACTORING is not simply a money management device for manufacturers: Almost any type business can take advantage of FACTORING. Generally, a company that extends credit will have 10 to 20 percent of its yearly sales bound in accounts receivable at any given time. Think for a minute about exactly how much is tied up in 60 days' worth of invoices: You can not pay the power bill or today s payroll with a customer s invoice, however you can sell that invoice for the cash to satisfy those responsibilities. Using truck factoring companies is a quick and easy process. The factoring company buys the invoice at a discount, usually a few portion points less than the stated value of the invoice.

 

 

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The American Trucking Association
specifies that there around
205,000 workers with freight trucking
firms and
250,000 personal companies trucking
firms licensed to
operate in the United States that transferred,
according to their latest listings of millions of
items, supplies and
standard products .
There are several common
providers either going solo or in
groups on our country
roadways carrying these
vital products to our
shops, manufacturingplants and ports.

And freight factoring
corporations aid
many of them and offer their
accounts receivablesfinancing 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

 

Los Angeles is a shipping, industrial, communication, financial, fashion, and distribution center for the W United States and much of the Pacific Rim. It is also the motion picture, television, radio, and recording capital of the United States, if not the world, housing numerous studios. Once an agricultural distribution center, Los Angeles is a leading producer of clothing and textiles, aircraft, computers and software, paper, toys, glass, furniture, wire, biomedical products, electrical and electronic machinery, pharmaceuticals, petrochemicals, and fabricated metal. Tourism, printing and publishing, food processing, and oil refining are also important.Los Angeles has one of the busiest ports in the United States, with roughly half of its commerce coming from other nations, and its international airport is one of the world's busiest. The metropolitan area's vast freeway system has made Los Angeles the archetypal auto-dependent urban area. The huge number of motor vehicles, combined with the city's valley location, often creates dangerously high smog levels. A light-rail system (opened in 1990) and buses alleviate freeway congestion only a little; a new subway (completed 2000) also provides insignificant relief.Maintaining an adequate water supply has long been a problem for Los Angeles. The city obtains most of its water from California's Central Valley to the north. In 1992 the city ended protracted litigation with environmentalists when it agreed to curtail water diversion in certain areas until ecological recovery had been achieved.

 

 

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

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.

 

Click below to find Trucking Companies in the United States:

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

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

 

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

 

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

 

 

"

Powell Truck and Haul has been in 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 heady times from 2002 to 2007, Powell 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. The money was flowing, and times were great.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed to a crawl

 

. Worse still, it was noticed by Powell in early 2008 that even though most of their loyal customers were on time with their payments, there were a few late bloomers who were starting to spread the disease. Spring changed to summer, summer changed to fall, and the CEO of Powell, Martin Gomez, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. There was a growing list of clients who now owed them back debt.He had 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 Powell hadn't gone elsewhere. The had just gone!.The situation looked dire to Martin Gomez. Martin was very concerned, because there were constant overheads, goods to ship, employees to pay, and trucks which needed to be maintained, but there just wasn't the money coming back into the business. After work he would confide in his wife, Anne, and neither were unable to stop the constant worry over the lack of funds.""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would say.Martin would stare off for a moment and then close 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. Why couldn�t he work out how to resolve this financial problem with his business?""I know what it is,"" said Martin. ""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."" Anne would look at her husband lovingly, and holding his hand would say 'it is such a harsh economy these days and our clients must be having difficulty meeting their responsibilities'.""Anne was trying so hard to support her husband in these worrying times, while Martin was weighed down with the worry of how he was going to handle this situation he found himself in.The next day Martin strolled into his office and was determined to sit down and make every phone call to every client who had owed Powell money. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. Wasting money, wasting time - even with the best of intentions, Martin 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 Lisaerley knocked at his door.

 

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

 

""Of course Lisa, please come in."" Martin leaned back in his chair and looked expectantly at Lisaerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Martin."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard of factoring?"" she asked.""It sounds vaguely familiar. What is it?"" he said.""Well,"" she began, ""It�s actually quite simple really.

 

Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Martin interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""In a nutshell, it is pretty easy. We start by having a professional account manager review our figures and help us set up a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. 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.""I see,� Martin 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. Once we arrive at a mutual agreement, the funding begins.�Martin leaned forward and reviewed the paperwork closely.""I do not know, Lisa - it just sounds too good to be true"", Martin said quietly.""Yes, I know; that's exactly what I thought at the beginning. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. And they're flexible Martin,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" asked Martin.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. Apparently they can figure this all out in two to four days.

 

""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" said Martin.Martin took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Martin took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Powell Truck & Haul were professional resources of the company, but they were also long-standing friends. Just because they were experiencing difficulties paying their own bills now, Martin was very concerned about losing these relationships. Martin knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. That unknown amount of time could create a disaster situation for both of them if he wasn't careful in how these debtors were handled. Of course he did not want to lose any more money, but he did not want to lose business either.""Well, let me think about this tonight Lisa, thank you."" Lisa nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Martin keep the shirt on his back, and possibly hers too.Martin 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 Powell Truck & Haul with? Running his pencil down the sheet, he noted that the freight factoring company could assist with fuel costs, fuel advances, and fuel discount cards. In fact, Powell could receive up to fifty-percent cash advances upon load pick-ups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""Well, I'll have to tell Eric about this,"" muttered Martin to himself.Eric is Martin's son-in-law, and he really admired the ideas behind Powell, so much so that only two years before he had started his own transportation service business. At that time Martin knew the struggles Eric would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Powell was struggling then the little guys, like Eric, were going to be in even more trouble.

 

But, an antidote may have been found in freight factoring and Martin was soon to find out.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Martin was beginning to find his way out of the hole his debtors had created for him.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They used that time to refocus their efforts in being competitive in new territories. Martin recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

Los Angeles is a shipping, industrial, communication, financial, fashion, and distribution center for the W United States and much of the Pacific Rim. It is also the motion picture, television, radio, and recording capital of the United States, if not the world, housing numerous studios. Once an agricultural distribution center, Los Angeles is a leading producer of clothing and textiles, aircraft, computers and software, paper, toys, glass, furniture, wire, biomedical products, electrical and electronic machinery, pharmaceuticals, petrochemicals, and fabricated metal. Tourism, printing and publishing, food processing, and oil refining are also important.Los Angeles has one of the busiest ports in the United States, with roughly half of its commerce coming from other nations, and its international airport is one of the world's busiest. The metropolitan area's vast freeway system has made Los Angeles the archetypal auto-dependent urban area. The huge number of motor vehicles, combined with the city's valley location, often creates dangerously high smog levels. A light-rail system (opened in 1990) and buses alleviate freeway congestion only a little; a new subway (completed 2000) also provides insignificant relief.Maintaining an adequate water supply has long been a problem for Los Angeles. The city obtains most of its water from California's Central Valley to the north. In 1992 the city ended protracted litigation with environmentalists when it agreed to curtail water diversion in certain areas until ecological recovery had been achieved.

 

 

More Trucking Factoring Companies Story Articles

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

 

More than forty years ago Leonard's father had started this business working as an owner-operator and eventually growing Woods Trucking Company into a fifteen trailer fleet. There had been some hard times when it seemed everything was going to go under and even Leonard�s mother strapped herself into a cab 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 Leonard�s hands and he wanted to live to see it in better shape for his sons.

 

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

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Leonard chuckled, thinking about his father. He remembered when his father was totally against installing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� 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.

 

Leonard believed a successful man is always thinking of his next step. How would he take Woods Trucking to the next level? And how would he be able to afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. 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. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without 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 Leonard to do his homework. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His 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. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

But it turned out to be quite easy. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. 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. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a 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.

 

For Leonard it was quite a relief to be dealing with the factoring company. They were extremely helpful and more personable than the bank staff. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies were not interested in his credit nor the financial problems his father had experienced in the past. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Leonard because he and his father had created a very strong and loyal list of clientele over the years. 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 Woods 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.

 

Leonard stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. With the capabilities of this new cash flow, Leonard could actually expand Woods 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.

 

 

 

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Trucking Factoring  Articles

"

�So It is not a loan?� Harvey Ford asked as he leaned back in his chair, crossing his legs. The woman who sat across the desk smiled and shook her head.�No, not exactly,� she stated.Harvey Ford owned a small trucking company, and his business had recently fallen on difficult times. Trucking could be a profitable business, and for a little under a decade, it had been for Victor. His company was called Weaver Trucking, named after both of his grandfathers, Marion and Tommy. Both of these men had been very hardworking and had set a great example for Victor.Six months ago disaster struck Victor's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. Harvey 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 Harvey had on hand.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

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.Harvey 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.And that's why he found himself across the desk from this woman. Harvey knew she was employed by a Factoring company and that her name was Caroline. Harvey had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.She sat there now, and explained. �It�s not a loan, we purchase your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. This is a win-win situation: we are protected from a total loss, and you're protected from the ridiculous fees and charges you'd have to pay if you borrowed from a bank.Harvey agreed. It sounded good to him, almost too good.The woman laughed. �You look like you don�t believe me,� she chuckled.�Oh no, I do: it just sounds too good to be true. I actually thought I might end up losing my business.�Caroline nodded. �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. Sometimes you need help. That�s what we�re here for.""In any case, thank you for coming to see me.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Caroline with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Harvey completed the form, with Caroline offering advice as needed.

 

The profile filled Caroline and her company in on Victor�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. As Harvey completed his form, Caroline listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Caroline took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Victor's hand. He stood before they shook as well, and then smiled. Harvey walked Caroline 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 had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. But now, after speaking to Caroline 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.All those long, sleepless nights. The sudden panic attacks, not matter 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 there, he was on the right path, and he was working to make things right.Harvey couldn�t help but think back to when he had first started the business. At twenty-two and straight out of school he had opened a restaurant. It had been successful. Home cooking in his hometown, and he had done very well.But it wasn't what he really wanted to do. His passion didn�t lie with the food industry. He thought long and hard, and then he decided to sell the restaurant. He took half a year off, and in that time he thought to start Weaver Trucking. And that's exactly what he did. Once again he built 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 about to turn fifty. He was concerned that he just did not have the energy left to try and save the business. But giving up wasn't part of his personality either.

 

The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He didn�t know how to say quit.And now, because of factoring, he was sure he wouldn�t have to. Harvey 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

Why Truck Companies Utilize Factoring Companies.

 

As the owner of your own business enterprise, you may likely be more than perceptive already of the difficulty in making certain that capital matters do not become a problem down the line. Anyway, the toughest thing that can possibly take place for your company is to find yourself swept up in a long and difficult circumstance that leaves you forever searching for the money you need to have on an continuing basis.

 

For virtually any business enterprise in this instance, the trouble can come for waiting for work to clear up and actually be compensated into your statement. Invoices, checks, and the like could take a long time to actually to be taken care of which can leave you with momentary cash flow issues. Fortunately, there are solutions out there for establishments to check out-- and just one of these is factoring providers.

 

Factoring agencies will, in trade for your invoices, grant you with the finances right away to ensure you do not need to fret about the delaying time span that could make paying out the expenses and getting materialsmore difficult. With this sort of setup, invoice factoring can come to be extremely beneficial for plenty of firms who have to get out of a money ploy which they have found themselves in.

 

Simply because, basing on the volume of the project, it can take up to 60 days for some businesses to get paid then it is critical to cover up your own back and certainly not leave yourself funds short to pay off the monthly bills. After all, how many businesses have two months profits just lying there to pay for all their expenses till they get paid?

 

This is primarily true of trucking agencies. They usually manage tons of accounts which means a huge quantity of collection period involves company owner themselves. Striving to get paid out promptly can become an incredible headache and this is the key reasons why you employ trucking factoring agencies who are glad to help out truckers primarily.

 

As we all determine, trucking is an exceptionally massive business with lots of agencies out there working with hundreds of operators. Regrettably, several of these drivers end up in money dilemmas since they are still awaiting work from six weeks ago to actually compensate them. When this is the scenario for a trucking firm, resorting to factoring agencies for help might be the finest alternative left.

 

This means that a truck company can pay out the salaries of the crew, keep all the trucks loaded with fuel and continue to escalate, grow and expand without constantly waiting for the cash which is taking too lengthy to come in. Trucking Establishments operating without a factoring program put in place are leaving themselves at considerable threat, as rivals cash out rapidly and continue to broaden.

 

There's absolutely very little to be worried about when it comes to utilizing a Factoring establishment-- they commonly are not like a financial institution or someone who is going to leave you with a significant stockpile of liability to repay. You give them legitimate invoices from work you have already finalized , you are only just expediting the payment system.

 

In the United States, where trucking firms succeed, factoring providers are not considered borrowing in any capacity. This private arrangement then enables both parties to benefit and enjoy a good future-- it provides the factoring provider a guaranteed resource of profit to add to the list and it provides the trucking business the needed finances that they sweated to get.

 

The trucking firm provides their invoices to the factoring agency. The trucking factoring company then receive the payment amounts from the trucking company's customers. Factoring has beenaround for centuries and has been adopted for several years by a lot of varying markets-- but none much more so than truckers. While you might possibly lose out on a small part of the money, something like 1-3 % depending on who you partner with, it indicates that you are receiving the finances today and can actually start putting the money to operate.

 

After all, an IOU or an invoice is certainly not going to pay for bills, is it? For trucking firms when the resources can be great one day and gone the next, it is up to the drivers to work smartly and to make certain they are leaving themselves with a substantial quantity of time and finance to get through the week up until they are paid once again.

 

So the next instance your trucking enterprise is enduring some momentary cash flow issues and you are spending a bit too much time chasing slowly paying customers, why not start off looking at making use of a factoring businesses as a way to get your finances and give yourself a more comfortable future in the eyes of your trucking workers and your bank dividend?

 

 

 

 

 

 

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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. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once 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

 

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

 

1. You will not Incur Debt. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. 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. 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 great benefit of using the services of a Trucking Factoring company instead of a bank loan is that there is no collateral required for the Trucking Factoring company, because the Trucking Factoring company is buying your accounts receivables. 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 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. 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. 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 not only are you relieved of those monthly loan payments, but you also do not have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

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

 

In addition, since the Trucking Factoring company evaluates the credit quality of your customers prior to purchasing the accounts receivable you gain valuable information into which customers are likely to pay and which ones are not so likely to pay.A Trucking Factoring company is not the only method of gaining access to finance for the running and growing of your business, however it does offer a financing option well worth considering.

 

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