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Do You Do Any Of These Embarrassing Things? - Our Truck Factoring Company Can Provide
Your Trucking Company The Money You Want

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transportation invoice factoring

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Factoring invoices is advantageous for numerous reasons. It allows a truck firm to raise money without acquiring new financial obligation. While debt is often required, most truck companies would choose to raise cash without borrowing money. Debt is high-risk, and when it cannot be paid back, possessions can be repossessed. If the financial obligation is huge enough, it could even force a truck companies out of business.

 

 

 

 

 

 

 

How To Burn Off Receivables, Hour-by-Hour - Choose A Receivable Loan C0mpany Instead Of A Regular Bank Financing

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

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

Cash flow does not have to be a problem any more. Do not be deceived -- banks are not the only locations you can get funding. Other options are offered and you do not have to borrow. What is truck factoring ? One option is called trucking factoring. Truck Factoring is the procedure of selling invoices to an investor rather than waiting to collect the money from the client. Oh, the Irony- Truck factoring has a paradoxical difference: It is the financial foundation of numerous of America's most successful companies. Why is this paradoxical ? Because staffing factoring is not taught in business colleges, is seldom discussed in company plans and is fairly unknown to the majority of most of American company individuals.

Yet it is a financial process that releases up billions of dollars every year, allowing countless businesses to grow and succeed. Factoring has actually been around for countless years. Truck Factoring Businesses are investors who pay money for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a debt your customer has to pay in the near future. Factoring Principals--Although factoring deals solely with business-to-business transactions, a large percentage of the retail company utilizes a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail transactions. Utilizing the purest meaning of the word, these large consumer finance companies are really simply large Trucking Factoring Companies of consumer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The store makes money almost instantly, even though you do not pay up until you are prepared.

For this service, the credit card company charges Sears a charge (typical common normal fees range from two to 4 percent of the sale). The Advantages Receivable Loan Funding can provide many advantages to cash-hungry companies. Rather than wait 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 little price cut off the amount of the invoice. Payroll, marketing efforts, and working capital are simply a few of the company needs that can be satisfied with instant  money.

Receivable Funding offers the ways for a producer to renew stock and make even more products to sell: There is no longer a requirement to wait for earlier sales to be paid. FACTORING is not simply a cash management device for manufacturers: Practically any kind business can benefit from Receivable Loan Funding. Typically, a company that extends credit will have 10 to 20 percent of its annual sales bound in invoices at any given time. Think for a moment about exactly how much is bound in 60 days' worth of invoices: You can not pay the power expense or today s payroll with a customer s invoice, however you can offer that invoice for the cash to meet those responsibilities. Using trucking factoring companies is a quick and easy procedure. The factor buys the invoice at a discount, usually a few percentage points less than the stated value of the invoice.

 

 

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The United states Truck Organization
specifies that there around
200,000 work with transportation
companies and
276,000 private providers trucking
companies licensed to
operate in the States that transported,
according to their most current searchings for billions of
products, materials and
basic materials .
There are numerous common
providers either going solo or in
teams on our country
highways transferring these
vital products to our
stores, manufacturingplants and ports.

Furthermore freight bill factoring
businesses service
numerous of them and offer their
accounts receivablesfinancing facilities
nationallyincluding
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

 

"

San Francisco has a diversified service economy, with employment spread across a wide range of professional services, including financial services, tourism, and (increasingly) high technology. In 2012, approximately 25% of workers were employed in professional business services; 16% in government services; 15% in leisure and hospitality; 11% in education and health care; and 9% in financial activities. In 2012, GDP in the five-county San Francisco metropolitan area grew by 7.4%, to US$360.4 billion; this was the fastest growth in the United States. California Street in the Financial DistrictThe legacy of the California Gold Rush turned San Francisco into the principal banking and finance center of the West Coast in the early twentieth century. Montgomery Street in the Financial District became known as the ""Wall Street of the West"", home to the Federal Reserve Bank of San Francisco, the corporate headquarters, and the site of the now-defunct Pacific Coast Stock Exchange. a pioneer in making banking services accessible to the middle class, was founded in San Francisco and in the 1960s, built the landmark modern skyscraper at 555 California Street for its corporate headquarters. Many large financial institutions, multinational banks, and venture capital firms are based in or have regional headquarters in the city. With over 30 international financial institutions, six Fortune 500 companies, and a large support infrastructure of professional services�including law, public relations, architecture and design�San Francisco is designated as an Alpha(-) World City, and is ranked in 10th place among the top global financial centers. Alcatraz receives 1.5 million annual visitors.Tourism is one of the city's largest private-sector industries, accounting for more than one out of seven jobs in the city. The city's frequent portrayal in music, film, and popular culture has made the city and its landmarks recognizable worldwide. San Francisco attracts the fifth-highest number of foreign tourists of any city in the U.S.[dated info] and ranks 43rd out of the 100 most visited cities worldwide according to Euromonitor International. More than 16.9 million visitors arrived in San Francisco in 2013, injecting US$9.4 billion into the economy. With a large hotel infrastructure and a world-class convention facility in the Moscone Center, San Francisco is a popular destination for annual conventions and conferences.Since the 1990s, San Francisco's economy has diversified away from finance and tourism towards the growing fields of high tech, biotechnology, and medical research. Technology jobs accounted for just 1 percent of San Francisco's economy in 1990, growing to 4 percent in 2010 and an estimated 8 percent by the end of 2013. San Francisco became an epicenter of Internet start-up companies during the dot-com bubble of the 1990s and the subsequent social media boom of the late 2000s. Since 2010, San Francisco proper has attracted an increasing share of venture capital investments as compared to nearby Silicon Valley, attracting 423 financings worth US$4.58 billion in 2013. In 2004, the city approved a payroll tax exemption for biotechnology companies[143] to foster growth in the Mission Bay neighborhood, site of a second campus and hospital of the University of California, San Francisco (UCSF). The top employer in the city is the city government itself, employing 5.3% (25,000+ people) of the city's population, followed by UCSF with over 22,000 employees. Third�at 1.8% (8,500+ people)�is , the largest private-sector employer.[146] Small businesses with fewer than 10 employees and self-employed firms make up 85% of city establishments,[147] and the number of San Franciscans employed by firms of more than 1,000 employees has fallen by half since 1977.[148] The growth of national big box and formula retail chains into the city has been made intentionally difficult by political and civic consensus. In an effort to buoy small privately owned businesses in San Francisco and preserve the unique retail personality of the city, the Small Business Commission supports a publicity campaign to keep a larger share of retail dollars in the local economy,[149] and the Board of Supervisors has used the planning code to limit the neighborhoods where formula retail establishments can set up shop, an effort affirmed by San Francisco voters.Like many U.S. cities, San Francisco once had a significant manufacturing sector employing nearly 60,000 workers in 1969, but nearly all production left for cheaper locations by the 1980s. As of 2014, San Francisco has seen a small resurgence in manufacturing, with more than 4,000 manufacturing jobs across 500 companies, doubling since 2011. The city's largest manufacturing employer is.

 

"

 

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

 

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

 

Click below to find Trucking Companies in the United States:

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

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

 

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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.

 

 

"

Medina Truck and Haul has been in business since the mid 1980s. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the heady times from 2002 to 2007, Medina was a top rated accounts receivable mastermind of the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. 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 Medina 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 Medina, Kurt Sutton, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The numbers of clients who owed him back debt were growing.He had gone to his administrators and asked them what the problem had been. Were they doing things different, or wrong, when it came to collecting overdue accounts? By his bookkeepers records, this wasn't the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Medina money had jumped ship and decided to leave him holding the bag.

 

. They could not afford to pay him their debt, but they could afford a lesser service, maybe. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. The had just gone!.This current state-of-affairs was causing Kurt Sutton to have some very restless nights. He had employees to pay, goods to ship, trucks to maintain and overhead that was almost unbearable when compared against the lack of funds that were coming in. After work he would confide in his wife, Dora, and neither were unable to stop the constant worry over the lack of funds.""Lin, I have a really bad feeling,"" he would say with deep woe.""Well, what do you think it is?"" she would say.Kurt would stare off into the distance, and then slowly close his eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them on the road, delivering good to all his loyal customers. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What could cause this ultimate death spiral of business?""I think I know what it could be,"" said Kurt. ""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.

 

""Kurt knew very well that Dora 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 Kurt strolled into his office and was determined to sit down and make every phone call to every client who had owed Medina 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, Kurt knew that he was in trouble.

 

Poor Kurt spent the whole morning trying in vain to contact his debtors: they promised to call back, dodged his calls, or made small interest-only payments. He was beginning to feel quite despaired when his secretary knocked on his door.

 

""Kurt, can I have a word?"" she asked standing in the doorway.

 

""Sure thing Sally, come on in."" Kurt leaned back in his chair and looked expectantly at Sallyerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Kurt."" 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.""Well,"" she began, ""It�s actually quite simple really.

 

Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Immediately?"" Kurt interrupted.""Immediately, yes"" she added, ""In a nutshell, it is pretty easy. We can have an expert account manager review our numbers and help us complete a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It�s a broad view.""I see,� Kurt said. �And then what?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. 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. We come to an agreement and the funding starts pouring out.�Leaning forward, Kurt studied the documents very closely.""It sounds too good to be true, Sally,"" he said.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Kurt: they've guaranteed that experts will do all the paperwork, and that will free us up to do what we should be doing - focusing on our customers in good standing, and that kind of stuff. And they're flexible Kurt,"" she underlined a paragraph on the paper before him.""How flexible?"" asked Kurt.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. It only takes 2 to 4 days for this to be figured out. ""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. 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,"" Kurt said.He took a deep breath and looked at his secretary with something she recognized as hope.""Exactly�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Kurt 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 Medina. Kurt wasn't prepared to lose these relationships just because they were having financial issues at the moment. Kurt 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 Sally, thank you."" Sally nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Kurt sat behind his desk and looked over the details Sally had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Medina Truck & Haul 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, Medina could receive up to fifty-percent cash advances upon load pick-ups. Kurt 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 Phillip about this,"" Kurt muttered to himself.Kurt's son-in-law, Phillip, loved the idea behind Medina and highly respected his father-in-law for having such great business sense, that two years ago he got his capital together and started his own transportation company. Kurt knew then what struggles Phillip would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Medina was struggling then the little guys, like Phillip, were going to be in even more trouble.

 

Perhaps the antidote to these problems was in freight factoring, and they were about 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 Kurt 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. Kurt looked back on the dismal months of life before freight factoring and almost shuddered at the thought. If Kurt hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

"

San Francisco has a diversified service economy, with employment spread across a wide range of professional services, including financial services, tourism, and (increasingly) high technology. In 2012, approximately 25% of workers were employed in professional business services; 16% in government services; 15% in leisure and hospitality; 11% in education and health care; and 9% in financial activities. In 2012, GDP in the five-county San Francisco metropolitan area grew by 7.4%, to US$360.4 billion; this was the fastest growth in the United States. California Street in the Financial DistrictThe legacy of the California Gold Rush turned San Francisco into the principal banking and finance center of the West Coast in the early twentieth century. Montgomery Street in the Financial District became known as the ""Wall Street of the West"", home to the Federal Reserve Bank of San Francisco, the corporate headquarters, and the site of the now-defunct Pacific Coast Stock Exchange. a pioneer in making banking services accessible to the middle class, was founded in San Francisco and in the 1960s, built the landmark modern skyscraper at 555 California Street for its corporate headquarters. Many large financial institutions, multinational banks, and venture capital firms are based in or have regional headquarters in the city. With over 30 international financial institutions, six Fortune 500 companies, and a large support infrastructure of professional services�including law, public relations, architecture and design�San Francisco is designated as an Alpha(-) World City, and is ranked in 10th place among the top global financial centers. Alcatraz receives 1.5 million annual visitors.Tourism is one of the city's largest private-sector industries, accounting for more than one out of seven jobs in the city. The city's frequent portrayal in music, film, and popular culture has made the city and its landmarks recognizable worldwide. San Francisco attracts the fifth-highest number of foreign tourists of any city in the U.S.[dated info] and ranks 43rd out of the 100 most visited cities worldwide according to Euromonitor International. More than 16.9 million visitors arrived in San Francisco in 2013, injecting US$9.4 billion into the economy. With a large hotel infrastructure and a world-class convention facility in the Moscone Center, San Francisco is a popular destination for annual conventions and conferences.Since the 1990s, San Francisco's economy has diversified away from finance and tourism towards the growing fields of high tech, biotechnology, and medical research. Technology jobs accounted for just 1 percent of San Francisco's economy in 1990, growing to 4 percent in 2010 and an estimated 8 percent by the end of 2013. San Francisco became an epicenter of Internet start-up companies during the dot-com bubble of the 1990s and the subsequent social media boom of the late 2000s. Since 2010, San Francisco proper has attracted an increasing share of venture capital investments as compared to nearby Silicon Valley, attracting 423 financings worth US$4.58 billion in 2013. In 2004, the city approved a payroll tax exemption for biotechnology companies[143] to foster growth in the Mission Bay neighborhood, site of a second campus and hospital of the University of California, San Francisco (UCSF). The top employer in the city is the city government itself, employing 5.3% (25,000+ people) of the city's population, followed by UCSF with over 22,000 employees. Third�at 1.8% (8,500+ people)�is , the largest private-sector employer.[146] Small businesses with fewer than 10 employees and self-employed firms make up 85% of city establishments,[147] and the number of San Franciscans employed by firms of more than 1,000 employees has fallen by half since 1977.[148] The growth of national big box and formula retail chains into the city has been made intentionally difficult by political and civic consensus. In an effort to buoy small privately owned businesses in San Francisco and preserve the unique retail personality of the city, the Small Business Commission supports a publicity campaign to keep a larger share of retail dollars in the local economy,[149] and the Board of Supervisors has used the planning code to limit the neighborhoods where formula retail establishments can set up shop, an effort affirmed by San Francisco voters.Like many U.S. cities, San Francisco once had a significant manufacturing sector employing nearly 60,000 workers in 1969, but nearly all production left for cheaper locations by the 1980s. As of 2014, San Francisco has seen a small resurgence in manufacturing, with more than 4,000 manufacturing jobs across 500 companies, doubling since 2011. The city's largest manufacturing employer is.

 

"

 

More Trucking Factoring Companies Story Articles

"

The Future of a Trucking Company, and Factoring Theodore Hunt let the phone ring on his desk. His morning coffee cooled and his cigarette smoked away in the tray: Theodore is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Hunt Trucking Company had reached a turning point and he now had to make a decision as to whether he should sign up with a factoring company, and indeed if this would be a good or regrettable decision for his business.

 

More than forty years ago Theodore's father had started this business working as an owner-operator and eventually growing Hunt Trucking Company into a fifteen trailer fleet. Yes, they had survived some very difficult times when it appeared like they might go under, and even Theodore's mother had jumped into the cab at times to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. But now things were different: the company was in Theodore's hands and he needed to ensure that this business would be left in great shape for his sons.

 

There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. His employees needed to be paid. They had families and household bills too. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. Every time he had to turn down a request, Hunt Trucking looked weak in a very strong market.

 

His father would have told him to wait and to take his time adding on new technology. Theodore allowed himself a good hard chuckle. 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). He knew his father's days were long gone and new technology was very important for the business, like having Qualcomm to reduce communication time for bills of lading.

 

Theodore believed a successful man is always thinking of his next step. How would he take Hunt Trucking to the next level? More importantly, how could he 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.

 

He wondered about factoring - was this the answer for him? There was a lot he didn�t understand about the process. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. 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 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.

 

Theodore 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. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

However, it all turned out to be very simple. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He was quite happy to sign an exclusive contract. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. Many companies offered a non-recourse factoring program that suited him just fine. He was more than happy with the figures he was offered in percentage terms on the freight bills. It was good money.

 

For Theodore it was quite a relief to be dealing with the factoring company. They were more personable than those loan managers at the bank. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies 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 Theodore because he and his father had created a very strong and loyal list of clientele over the years. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients would not have any problems, nor would they think poorly of Hunt 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.

 

Theodore stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. With the capabilities of this new cash flow, Theodore could actually expand Hunt Trucking Company further across the country and perhaps even go international into Canada. His heart felt full knowing his sons wouldn�t have to worry about money because of the right decisions he had made for their trucking business.

 

"

 

 

 

 

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Trucking Factoring  Articles

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�So It is not a loan?� asked Ray Davis, reclining back into his chair and crossing his legs. The woman sitting across the desk from Ray smiled at him, shaking her head.�No, not exactly,� she said.Ray Davis owned a small trucking company, and his business had recently fallen on difficult times. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Darryl. He named his business Castro Trucking, named after Kyle and Enrique, his two grandfathers. Both of these men had been very hardworking and had set a great example for Darryl.Disaster had struck half a year ago, when two trucks in Darryl�s fifteen truck fleet went down. One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. The financial security of Darryl's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.A big problem a lot of trucking companies came across was how bills were paid in the industry. Waiting a month or longer for bills to be paid was quite normal. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Ray was an excellent business man, and he certainly hadn't done anything wrong. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.And that's why he found himself across the desk from this woman. Ray knew she was employed by a Factoring company and that her name was Connie. He had accidentally come across her company one night when he was working late, searching the internet to see if there was some solution to his financial dilemma.She sat there now, and explained. �It�s not a loan, we purchase your accounts receivable. we are not giving you finance to be repaid later: we are purchasing something from you, and when you can you can buy it back. 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.Ray nodded. It sounded perfect - perhaps too good?.Connie laughed. �I'm not sure that you 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.�Connie nodded. �Yes, we get a lot of that. There's no way we want to see you lose your business. You work hard, you�ve put everything you can into it. Sometimes you need help. That's why we do what we do.""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 Connie with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Ray completed the form, with Connie offering advice as needed.

 

The completed profile gave Connie and her company all the information they needed on Darryl's business, and with this information they would determine if this business would in fact be suitable for Factoring. Unfortunately, not all companies are. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. As Ray completed his form, Connie listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Connie took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Darryl�s hand. He stood before they shook as well, and then smiled. Ray walked Connie to the door where they said 'Goodbye', then he went back into his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He leaned back and closed his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. Talking to Connie though, learning about factoring, it felt like a weight had been lifted from his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.The long nights, where he couldn�t sleep. The sudden panic attacks, not matter where he was. He could feel it all fading away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was there, he was on the right path, and he was working to make things right.His mind wandered back to the very beginning, when he first started his business. At twenty-two and straight out of school he had opened a restaurant. It had been really successful. Offering home cooking in his own hometown, his business had really prospered.But it wasn't what he really wanted to do. He wasn't passionate about the food industry. He thought 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 Castro Trucking. So he did it. Once again he built a company from the ground up. He had been successful.And then the trucks went down, and his success looked to be in flux. He was nearing fifty. He didn�t think he had it in him, to save this company. But 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 did not want to quit - both for himself and for his staff members.And now it seemed as though he would not have to - all because of Factoring. Ray opened his eyes, sat forward, turned his computer on. He had things to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

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More Trucking Factoring Company Story Articles

Precisely why Truck Firms Use Factoring Companies.

 

As the operator of your own establishment, you may be more than mindful already of the difficulty in making sure that cash flow concerns do not become a difficulty down the line. Anyway, the most awful thing that can potentially come about for your establishment is to find yourself swept up in a long and tough circumstance that leaves you forever searching for the finances you need on an continuous basis.

 

For pretty much any enterprise in this position, the issue can come for waiting for work to lapse and actually be paid into your bank account. Statements, checks, and the like can take a long time to actually to be taken care of which can easily leave you with temporary capital problems. Thankfully, there are approaches out there for companies to explore-- and one of these is factoring providers.

 

Factoring providers will, in trade for your invoices, give you with the cash right now in order that you do not have to stress over the lingering time frame that could make paying the expenses and acquiring toolsmore difficult. With this kind of system, invoice factoring can become extraordinarily useful for countless enterprises who ought to avoid a cash ploy which they have discovered themselves in.

 

For the reason that, relying on the scale of the task, it can take up to 60 days for several firms to get paid out then it is necessary to blanket your own back and certainly not leave yourself money short to pay the costs. After all, how many companies possess two months revenue just lying there to cover all their overheads till they make money?

 

This is most especially correct of truck companies. They usually manage good deals of accounts which means a notable quantity of collection period demands business owner themselves. Making an effort to get compensated promptly can turn into an amazing difficulty and this is the reason why you make use of trucking factoring agencies who are delighted to help out truckers mainly.

 

As all of us determine, trucking is an astonishingly large market with many companies out there hiring hundreds of vehicle drivers. Regrettably, quite a few of these drivers land up in finances troubles since they are still waiting on work from six weeks in the past to actually pay them. When this is the circumstance for a truck agency, consulting factoring companies for aid might be the very best choice left.

 

This implies that a trucking corporation can provide the paychecks of the workers, keep all the cars refilled with gas and continue to scale, thrive and expand without always waiting for the cash which is taking too prolonged to come in. Trucking Establishments running without a factoring program established are leaving themselves at significant danger, as contenders cash out promptly and proceed to develop.

 

There's genuinely not a thing to be distressed about when it comes to employing a Factoring business-- they typically are not like a financial institution or a person who is going to leave you with a significant pile of financial debt to repay. You give them genuine invoices from output you have already completed , you are only just accelerating the repayment system.

 

In the United States, where trucking agencies thrive, factoring enterprises are not considered accepting loan of in any capacity. This confidential contract then permits both parties to benefit and delight in a worry-free future-- it provides the factoring business a secured resource of revenue to put into the list and it gives the trucking company the needed funds that they worked hard to generate.

 

The trucking establishment provides their accounts to the factoring enterprise. The trucking factoring business then acquire the payments from the trucking company's clients. Factoring has been in existence for hundreds of years and has been used for long times by numerous varied business sectors-- but none much more so than truckers. While you might miss out on a small part of the money, something like 1-3 % depending on who you partner with, it indicates that you are acquiring the money today and can actually start off putting the cash to work.

 

Once and for all, an IOU or an invoice is not actually going to finance overheads, is it? For trucking agencies when the income can be really good one day and gone the next, it is up to the vehicle drivers to work smartly and to make certain they are leaving themselves with a considerable volume of time and money to get through the week till they are compensated again.

 

So the next moment your trucking establishment is enduring some momentary cash flow concerns and you are investing way too much time chasing slow paying customers, why not start looking at making use of a factoring businesses as a way to get your money and give yourself a more pleasant 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. 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 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. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once you have set up Trucking Factoring account it continues as long as you wish it too and the amount of money available to you even can grow as your business grows, giving you the ready cash you need to meet your own obligations.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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

 

1. You will not Incur Debt. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

2. There's no collateral required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This 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. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you do not have to continue to pay interest as they take it right off the top, deducting it from the total amount of accounts receivable. So you do not have to worry about monthly loan repayments, and you do not have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

As you can see, 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 most important benefits is that once you sell your accounts receivable to the factory company, you do not have to take time away from running your business to collect the money owed from reluctant to pay customers. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very efficient at debt collecting, and this frees up your valuable time to devote to running your company.

 

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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