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

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Using a Truck Factoring Company is advantageous for a number of factors. It permits a trucking company to raise cash without obtaining new financial obligation. While debt is often needed, most truck businesses would choose to raise money without obtaining money. Financial obligation is dangerous, and when it cannot be paid back, assets can be repossessed. If the debt is big enough, it could even compel a truck companies out of business.

 

 

 

 

 

 

 

The Secrets of Making People Like You Get - Choose A Freight�Brokerage Factoring Company  Instead Of A Typical Bank Funding

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

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

Money flow does not have to be an issue any more. Do not be fooled -- banks are not the only locations you can get funding. Other solutions are offered and you do not have to borrow money. What is trucking factoring ? One solution is called truck factoring. Trucking Factoring is the procedure of selling accounts receivable to a financier rather than waiting to collect the cash from the customer. Oh, the Irony- Trucking factoring has a paradoxical difference: It is the financial backbone of many of America's most effective companies. Why is this paradoxical ? Because factoring is not instructed in business colleges, is seldom mentioned in business strategies and is relatively unknown to bulk of most of American business people.

Yet it is a financial procedure that releases up billions of dollars every year, enabling thousands of businesses to grow and prosper. FACTORING has been around for thousands of years. FACTORING Companies are financiers who pay money for the right to receive the future payments on your invoices. An overdue receivable or invoice has value. It is a debt your customer has agreed pay in the near future. Factoring Principals--Although factoring deals solely with business-to-business deals, a large percentage of the retail company utilizes a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail deals. Utilizing the purest definition of the word, these big customer finance companies are really just large Receivable Loan Funding Companies of consumer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The shop gets paid practically immediately, even though you do not pay until you are prepared.

For this service, the credit card business charges Sears a fee (typical common normal fees vary from 2 to four percent of the sale). The Benefits Invoice Factoring can offer numerous advantages to cash-hungry companies. Rather than wait 30, 60, 90 days or longer for payment on an item that has actually already been provided, a business can factor (sell) its receivables for cash at a small discount off the amount of the invoice. Payroll, advertising efforts, and working capital are simply a few of the company requirements that can be satisfied with instant  money.

Truck Factoring offers the means for a manufacturer to renew stock and make even more products to offer: There is no longer a need to wait for earlier sales to be paid. Receivable Loan Financing is not simply a money management device for manufacturers: Practically any type company can benefit from Trucking Factoring. Generally, a business that extends credit will have 10 to 20 percent of its yearly sales bound in invoices at any given time. Think for a moment about exactly how much is tied up in 60 days' worth of invoices: You can not pay the power bill or this week s payroll with a customer s invoice, however you can sell that invoice for the cash to satisfy those obligations. Using trucking factoring companies is a fast and easy process. The factor purchases the invoice at a discount, usually a couple of percentage points less than the face value of the invoice.

 

 

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The U.s. Truck Organization
states that there around
200,000 truck drivers with freight trucking
companies and
250,000 private providers trucking
companies certified to
run in the United States that carried,
according to their newest data of millions
items, supplies and
basic products .
There are a number of usual
carriers either going solo or in
teams on our country
highways transferring these
crucial products to our
shops, manufacturing facilities and ports.

Moreover trucking factoring
companies help
countless of them and offer their
factoring services
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

 

Fayetteville (/'fe??t?v?l/) is a city in Cumberland County, North Carolina, United States. It is the county seat of Cumberland County,[3] and is best known as the home of Fort Bragg, a major U.S. Army installation northwest of the city.Fayetteville has received the prestigious All-America City Award from the National Civic League three times. As of the 2010 census it had a population of 200,564,[4] with an estimated population of 204,408 in 2013.[5] It currently ranks as the sixth-largest municipality in North Carolina. Fayetteville is in the Sandhills in the western part of the Coastal Plain region, on the Cape Fear River.With an estimated population in 2013 of 377,193,[6] the Fayetteville metropolitan area is the largest in southeastern North Carolina, and the fifth-largest in the state. Suburban areas of metro Fayetteville include Fort Bragg, Hope Mills, Spring Lake, Raeford, Pope Field, Rockfish, Stedman, and Eastover. Fayetteville's current mayor is Nat Robertson, who is serving his first term.[7]Fort Bragg is the backbone of the county's economy. Fort Bragg and Pope Field pump about $4.5 billion a year into the region's economy,[citation needed] making Fayetteville one of the best retail markets in the country. Fayetteville serves as the region's hub for shops, restaurants, services, lodging, health care and entertainment. Fayetteville boasts a low unemployment rate with a large labor pool of trained professionals.

 

 

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

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

 

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

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

 

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

 

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

 

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

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

 

 

"

Since the mid 1980s Lopez Truck & Haul have been successfully running their freight business. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the heady times from 2002 to 2007, Lopez 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. The money was flowing, and times were great.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 down. Worse still, it was noticed by Lopez 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 Lopez, Scott Rice, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The number of clients who were late in their payments was continuing to grow.He had already been to the administrators to ask what the actual problem was. Were they doing things different, or wrong, when it came to collecting overdue accounts? When checking his bookkeeper's records this was definitely not 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 Lopez 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. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Lopez hadn't gone elsewhere. The had just gone!.This current state-of-affairs was causing Scott Rice to have some very restless nights. There were goods to ship, employees to pay, trucks to repair and maintain, and continuous overheads that were very extensive when compared to the funds (or lack of) that were incoming. After work he would confide in his wife, Amy, and neither were unable to stop the constant worry over the lack of funds.""I have a bad feeling, Lin,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would ask.Scott would stare off into the distance, and then slowly close his eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them traveling, bringing goods to all of his clients. But 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 know what it is,"" said Scott. ""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.

 

""Scott knew his wife meant well, but he knew that he was responsible for too many people to sit idly by, waiting for the sun to peak over the clouds.The following day Scott walked into his office with a spring in his step, determined to call each and every client who owed money to Lopez Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Scott knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. A waste of time - a waste of money - he had the best intentions, but all the while Scott was realising just how much trouble he was in.Poor Scott 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.

 

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

 

""Of course Edith, please come in."" Scott leaned back in his chair and looked expectantly at Editherely.""Well Scott, this afternoon I did some research, trying to work out how we are going to get out of this mess."" 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.She began, ""Well, it is really very simple. So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Scott interrupted ""Immediately?"".""Immediately, yes"" she added, ""it is actually very simple. 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. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.""I see,� Scott 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.�Scott was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Edith,"" he said.""Yes, I know; that's exactly what I thought at the beginning. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. And they're flexible Scott,"" she underlined a paragraph on the paper before him.""Just how flexible?"" he asked.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. Apparently they can figure this all out in two to four days.

 

""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" Scott said.He took a deep breath and looked at his secretary with something she recognized as hope.""Precisely�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Scott 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 Lopez. Scott wasn't prepared to lose these relationships just because they were having financial issues at the moment. Scott 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.""Let me go over this tonight Edith, and thankyou."" Edith stood up and left Scott's office, with the nice feeling of knowing that she may just have solved a very serious problem.Scott 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 Lopez 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, Lopez could receive up to fifty-percent cash advances upon load pick-ups. Scott 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 Philip about this,"" muttered Scott to himself.Scott's son-in-law, Philip, loved the idea behind Lopez 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. Scott knew then what struggles Philip would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Lopez was hurting, a little guy like Philip was about to catch his death. But, maybe the answer for both of them was in freight factoring, and Scott was going to find out very soon.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Scott was beginning to find his way out of the hole his debtors had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They used that time to refocus their efforts in being competitive in new territories. Scott looked back on the dismal months of life before freight factoring and almost shuddered at the thought. He probably wouldn't be in business today had he not learned just in time about freight factoring.

 

"

 

Fayetteville (/'fe??t?v?l/) is a city in Cumberland County, North Carolina, United States. It is the county seat of Cumberland County,[3] and is best known as the home of Fort Bragg, a major U.S. Army installation northwest of the city.Fayetteville has received the prestigious All-America City Award from the National Civic League three times. As of the 2010 census it had a population of 200,564,[4] with an estimated population of 204,408 in 2013.[5] It currently ranks as the sixth-largest municipality in North Carolina. Fayetteville is in the Sandhills in the western part of the Coastal Plain region, on the Cape Fear River.With an estimated population in 2013 of 377,193,[6] the Fayetteville metropolitan area is the largest in southeastern North Carolina, and the fifth-largest in the state. Suburban areas of metro Fayetteville include Fort Bragg, Hope Mills, Spring Lake, Raeford, Pope Field, Rockfish, Stedman, and Eastover. Fayetteville's current mayor is Nat Robertson, who is serving his first term.[7]Fort Bragg is the backbone of the county's economy. Fort Bragg and Pope Field pump about $4.5 billion a year into the region's economy,[citation needed] making Fayetteville one of the best retail markets in the country. Fayetteville serves as the region's hub for shops, restaurants, services, lodging, health care and entertainment. Fayetteville boasts a low unemployment rate with a large labor pool of trained professionals.

 

 

More Trucking Factoring Companies Story Articles

"

Factoring in the Future of a Trucking Business: A Story Sean Gonzales let the phone ring on his desk. His morning coffee cooled and his cigarette smoked away in the tray: Sean is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Gonzales 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 Sean's father had started this business working as an owner-operator and eventually growing Gonzales 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 Sean's mother had jumped into the cab at times to make hauls. His father had worked long enough to see the price of hires drop dramatically during the recession and to see the explosion of fuel prices afterwards. Now the company was solely in Sean�s hands and he wanted to live to see it in better shape for his sons.

 

To move Gonzales 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. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. Every time he had to turn down a request, Gonzales Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Sean 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.

 

Sean believed a successful man is always thinking of his next step. How would he take Gonzales 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. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

He wondered about factoring - was this the answer for him? There was a lot he didn�t understand about the process. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Now it was time for Sean to do his homework. Sean had heard that there were companies that charged for same day money transfers and would only advance a percentage of the money owed to your company while holding the rest in a private account if they didn�t get their bill payment within 60 or so days. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. 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 was quite happy to sign an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. 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 sounded like a great scheme to him.

 

For Sean it was quite a relief to be dealing with the factoring company. They were extremely helpful and more personable than the bank staff. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar for a handout. The factoring companies were not interested in his credit nor the financial problems his father had experienced in the past. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Sean 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 Gonzales Trucking, because the factoring companies handle themselves in such a polite and professional manner, similar to the way his father had managed the business in the past.

 

Feeling happier now, Sean stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. He suddenly realized that, with this new cash flow, he could actually expand Gonzales Trucking Company and who knows, move into Canada, which had always been his dream. 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

"

�So It is not a loan?� asked Troy Miller, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�No, not exactly,� she stated.Troy was the owner of a small trucking company which had fallen on some hard times recently. Trucking could be a profitable business, and for a little under a decade, it had been for Mark. His company was called Rodney Trucking, named after both of his grandfathers, Richard and Javier. They had both been hardworking men, and had done a lot to make Troy the same.Disaster had struck half a year ago, when two trucks in Mark�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. Troy 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 Troy had on hand.A big problem a lot of trucking companies came across was how bills were paid in the industry. Waiting a month or longer for bills to be paid was quite normal. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Troy 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.That�s where the woman across the desk came in. Her name was Christine and she worked for a factoring company. Troy had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.She sat there now, and explained. �it is really not a loan at all: we actually buy your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. 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.Troy nodded. It sounded perfect - perhaps too good?.Christine laughed. �You look like you don�t believe me,� she said.�Oh no, I do: it just sounds too good to be true. I actually thought I might end up losing my business.�Christine smiled, agreeing. �Yes, we get a lot of that. There's no way we want to see you lose your business. We know how hard you work, and that you've invested everything in your business. Sometimes you need help. That�s what we�re here for.""Well, I'm very grateful that you came to see me today.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� Christine said with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.

 

Troy completed the form, with Christine offering advice as needed.

 

The profile filled Christine and her company in on Mark�s company, and would help them determine if he was suitable for factoring. In truth, not all companies were. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. As Troy completed his form, Christine listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Christine took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Mark's hand. He stood before they shook as well, and then smiled. Troy walked Christine 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. Talking to Christine 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.All those long, sleepless nights. 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 still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.His mind wandered back to the very beginning, when he first started his business. At twenty-two and straight out of school he had opened a restaurant. It had been really successful. Offering home cooking in his own hometown, his business had really prospered.But it wasn't what he really wanted to do. He wasn't passionate about the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took six months off, and during that time he decided to create Rodney Trucking. And that's exactly what he did. For the second time in his short life he created a company from the ground up. He had been successful.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was about to turn fifty. He was concerned that he just did not have the energy left to try and save the business. But 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. Troy opened his eyes, sat forward, turned his computer on. He had lots to do. He could be thankful later, for now, it was time to work.

 

"

 

 

 

More Trucking Factoring Company Story Articles

Precisely why Truck Establishments Work with Factoring Firms.

 

As the operator of your own company, you may well be more than perceptive already of the difficulty in making sure that cash flow issues do not become a difficulty down the line. After all, the toughest thing that can in all probability take place for your firm is to find yourself embroiled in a long and difficult predicament that leaves you forever trying to find the finances you need on an continuous basis.

 

For pretty much any company in this position, the concern can come for waiting for work to clear up and actually be repaid into your account. Statements, checks, and the like can take a long time to actually to beprocessed which can certainly leave you with momentary available resources problems. Fortunately, there are opportunities out there for companies to explore-- and just one of these is factoring firms.

 

Factoring firms will, in exchange for your bill of sales, provide you with the cash money right away so that you do not need to stress over the lingering phase which could make paying off the expenses and obtaining materialsmore tough. With this type of setup, invoice factoring can come to be tremendously helpful for lots of enterprises who have to avoid a money pitfall which they have discovered themselves in.

 

Due to the fact that, basing on the volume of the task, it can take up to 60 days for some establishments to get paid out then it is critical to blanket your own back and certainly not leave yourself resources short to pay off the bills. After all, how many businesses have two months earnings just occupying there to handle all their spendings till they earn?

 

This is primarily correct of trucking companies. They generally manage numbers of accounts which means a notable volume of collection time demands company owner themselves. Seeking to get paid in time can develop into an amazing hassle and this is precisely why you make use of truck factoring firms who are glad to help out truckers particularly.

 

As we all recognize, trucking is an surprisingly big field with numerous agencies out there working with hundreds of drivers. Sadly, numerous of these drivers end up in money difficulties considering that they are still anticipating work from six weeks in the past to actually pay them. When this is the case for a truck agency, choosing factoring companies for support could be the finest option left.

 

This signifies that a truck organization can provide the salaries of the staff, keep all the vehicles filled with gas and continue to scale, evolve and expand without continually waiting for the income which is taking too long to come in. Trucking Enterprises working without a factoring system put in place are leaving themselves at considerable hazard, as contenders cash out quickly and proceed to broaden.

 

There's absolutely not a thing to be troubled about when it comes to using a Factoring business-- they are not like a bank or a person who is going to leave you with a large stack of liability to repay. You give them legitimate invoices from work you have already finished , you are simply quickening the payment process.

 

In the Usa, where truck companies do well, factoring enterprises are not considered accepting loan of in any capacity. This confidential deal then permits both parties to profit and indulge in a comfortable future-- it gives the factoring company a secured resource of earnings to add to the list and it gives the trucking company the required finances that they sweated to earn.

 

The trucking company bestows their invoices to the factoring business. The trucking factoring agency then obtain the installment payments from the trucking company's clients. Factoring has beenaround for hundreds of years and has been employed for long times by a lot of varied business-- but none much more so than truckers. While you could miss out on a small part of the money, something like 1-3 % depending upon who you partner with, it signifies that you are acquiring the money today and can actually start setting the resources to perform.

 

Once and for all, an IOU or an invoice is absolutely not going to pay for costs, is it? For trucking enterprises when the hard earned cash can be great one day and gone the next, it is up to the drivers to work sensibly and to make sure they are leaving themselves with a notable volume of time and money to get through the week until they are paid for again.

 

So the next moment your trucking establishment is enduring some momentary capital problems and you are devoting excessive time chasing slow paying clients, why not start considering employing a factoring businesses as a means to get your cash and give yourself a more comfortable future in the eyes of your trucking team and your bank difference?

 

 

 

 

 

 

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Traditional Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. These loans can be a life-saver, but they're not always available to every business. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Once the loan is paid off, you can then apply for another loan if the need arises.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but 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 finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to sell. Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

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

 

2. There's no collateral required. Another 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 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. Receive Your 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. 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.You receive interest 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 from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

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

 

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