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Invoice Factoring is helpful for several reasons. It permits a truck firm to raise cash without acquiring new financial obligation. While debt is occasionally essential, most trucking companies would choose to raise money without borrowing cash. Debt is high-risk, and when it cannot be repaid, properties can be repossessed. If the financial obligation is huge enough, it could even compel a trucking firms out of business.

 

 

 

 

 

 

 

What Your Banker Doesn't Want You to Know - Choose The Best Factoring Company Instead Of A Traditional Bank Funding

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

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

Cash flow does not have to be an issue any more. Do not be deceived -- banks are not the only locations you can get funding. Other solutions are available and you do not have to borrow money. What is trucking factoring ? One option is called trucking factoring. Truck Factoring is the procedure of offering accounts receivable to an investor rather than waiting to collect the cash from the customer. Oh, the Irony- Trucking factoring has an ironic distinction: It is the monetary backbone of numerous of America's most successful businesses. Why is this ironic ? Since trucking factoring is not taught in business colleges, is seldom mentioned in business strategies and is relatively unidentified to the majority of most of American company individuals.

Yet it is a financial process that frees billions of dollars every year, enabling countless companies to grow and prosper. Staffing Factoring has been around for countless years. Accounts Receivable Factoring Businesses are investors who pay cash for the right to get the future payments on your invoices. An unpaid receivable or invoice has value. It is a debt your client has actually to pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business deals, a big percentage of the retail company utilizes a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail deals. Using the purest definition of the word, these large consumer finance companies are really just large Receivable Financing Businesses of consumer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The store makes money practically immediately, even though you do not make payment up until you are prepared.

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

Commercial Factoring provides the ways for a manufacturer to renew inventory and make even more items to sell: There is no longer a need to await for earlier sales to be paid. Receivable Loan Financing is not just a cash management device for manufacturers: Almost any type company can take advantage of Trucking Factoring. Typically, 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 minute about how much is bound in 60 days' worth of invoices: You can not pay the power bill or this week s payroll with a customer s invoice, but you can sell that invoice for the cash to satisfy those obligations. Using truck factoring companies is a quick and simple process. The factoring company buys the invoice at a discount, usually a few portion points less than the stated value of the invoice.

 

 

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The American Trucking Organization
states that there around
200,000 work with transportation
firms and
276,000 private companies trucking
firms accredited to
run in America that transferred,
according to their most current searchings for billions of
items, supplies and
fundamental products .
There are numerous common
providers either going solo or in
teams on our nation
highways transporting these
crucial products to our
stores, factories and shipping ports.

Moreover freight invoice factoring
firms help
several of them and offer their
receivables financing 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

 

"

Louisville's early economy first developed through the shipping and cargo industries. Its strategic location at the Falls of the Ohio, as well as its unique position in the central United States (within one day's road travel to 60% of the cities in the continental U.S.) make it an ideal location for the transfer of cargo along its route to other destinations. The Louisville and Portland Canal and the Louisville and Nashville Railroad were important links in water and rail transportation. Louisville's importance to the shipping industry continues today with the presence of the Worldport global air-freight hub for at Louisville International Airport. Louisville's location at the crossroads of three major Interstate highways (I-64, I-65 and I-71) also contributes to its modern-day strategic importance to the shipping and cargo industry. As of 2003, Louisville ranks as the 7th largest inland port in the United States.Recently, Louisville has emerged as a major center for the health care and medical sciences industries. Louisville has been central to advancements in heart and hand surgery as well as cancer treatment. Some of the earliest artificial heart transplants were conducted in Louisville. Louisville's thriving downtown medical research campus includes a new $88 million rehabilitation center and a health sciences research and commercialization park, that in partnership with the University of Louisville, has lured nearly 70 top scientists and researchers. Louisville is also home to , one of the nation's largest health insurance companies.Louisville is home to nearly two dozen major corporations and organizations: . Other distilleries and related businesses can also be found in neighboring cities in Kentucky, such as Bardstown, Clermont, Lawrenceburg and Loretto.Louisville also prides itself in its large assortment of small, independent businesses and restaurants, some of which have become known for their ingenuity and creativity. In 1926 the Brown Hotel became the home of the Hot Brown ""sandwich"". A few blocks away, the Seelbach Hotel, which F. Scott Fitzgerald references in The Great Gatsby, is also famous for a secret back room where Al Capone would regularly meet with associates during the Prohibition era. The drink the Old Fashioned was invented in Louisville's Pendennis Club.Several major motion pictures have also been filmed in or near Louisville, .

 

"

 

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

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

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

 

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.

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.

 

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

 

 

"

Perry Truck & Haul have been operating their business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the heady times from 2002 to 2007, Perry was a top rated accounts receivable mastermind of the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. Times were great for everyone, and the cash was flowing.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. And worse yet, Perry had noticed during the early part of 2008 that though the bulk of their clients were always on time with payments, the few late-bloomers there were, had seemingly started to spread this illness. Spring changed to summer, summer changed to fall, and the CEO of Perry, Victor Matthews, 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 something wrong or different when it came to reaching out to delinquent accounts? When checking his bookkeeper's records this was definitely not the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. They could not afford to pay him their debt, but they could afford a lesser service, maybe. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Perry hadn't gone elsewhere. The had just gone!.To Victor Matthews the situation looked desperate. He had employees to pay, goods to ship, trucks to maintain and overhead that was almost unbearable when compared against the lack of funds that were coming in. After work he would confide in his wife, Sara, 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.Victor would stare off into the distance, and then slowly close his eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them traveling, bringing goods to all of his clients. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. Why couldn�t he work out how to resolve this financial problem with his business?""I think I know what it could be,"" said Victor. ""I've relied too long on the profits I receive from invoices alone. I've let too many of our customers go too long without paying on their bills."" 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.

 

""Victor knew very well that Sara 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 following day Victor walked into his office with a spring in his step, determined to call each and every client who owed money to Perry Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Victor knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. A waste of time - a waste of money - he had the best intentions, but all the while Victor was realising just how much trouble he was in.After a half day of contacting debtors in vain - they dodged his calls or promised to call back at worst or made minimal interest-only payments at best - he was about to throw in the towel when his secretary Hollyerley knocked at his door.

 

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

 

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

 

So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Victor interrupted ""Immediately?"".""Immediately, yes"" she added, ""In a nutshell, it is pretty easy. We start by having a professional account manager review our figures and help us set up a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It provides a very broad view.""Victor replied cautiously ""I see - and what happens then?""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.

 

The company will advise us the cost to purchase factoring for our company's accounts receivable. Once we arrive at a mutual agreement, the funding begins.�Victor leaned forward and reviewed the paperwork closely.""I do not know, Holly - it just sounds too good to be true"", Victor said quietly.""Yes, I know; that's exactly what I thought at the beginning. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. They appear to be very flexible, Victor,"" she underlined a paragraph on the paper before him.""Just how flexible?"" he asked.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. Apparently they can figure this all out in two to four days.

 

""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,"" Victor said.Victor took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Victor 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 Perry. They did not want to throw away these relationships because they were having trouble paying their bills now. Victor knew only too well that the whole economy was floundering, and that it was not going to change overnight. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. Of course he did not want to lose any more money, but he did not want to lose business either.""Let me go over this tonight Holly, and thankyou."" Holly nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Victor sat behind his desk and looked over the details Holly had not mentioned in their meeting. What other issues could freight factoring help Perry with? Running his pencil down the sheet, he noted that the freight factoring company could assist with fuel costs, fuel advances, and fuel discount cards. Victor was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Victor 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 Mario about this,"" Victor muttered to himself.Victor's son-in-law, Mario, loved the idea behind Perry 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. At that time Victor knew the struggles Mario would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Perry was struggling then the little guys, like Mario, 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.Some months later, having successfully gone through the entire process of the application, having experts study his credit history and statements and review his accounts receivable, Victor found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They used that time to refocus their efforts in being competitive in new territories. Victor looked back on the dismal months of life before freight factoring and almost shuddered at the thought. If Victor hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

"

Louisville's early economy first developed through the shipping and cargo industries. Its strategic location at the Falls of the Ohio, as well as its unique position in the central United States (within one day's road travel to 60% of the cities in the continental U.S.) make it an ideal location for the transfer of cargo along its route to other destinations. The Louisville and Portland Canal and the Louisville and Nashville Railroad were important links in water and rail transportation. Louisville's importance to the shipping industry continues today with the presence of the Worldport global air-freight hub for at Louisville International Airport. Louisville's location at the crossroads of three major Interstate highways (I-64, I-65 and I-71) also contributes to its modern-day strategic importance to the shipping and cargo industry. As of 2003, Louisville ranks as the 7th largest inland port in the United States.Recently, Louisville has emerged as a major center for the health care and medical sciences industries. Louisville has been central to advancements in heart and hand surgery as well as cancer treatment. Some of the earliest artificial heart transplants were conducted in Louisville. Louisville's thriving downtown medical research campus includes a new $88 million rehabilitation center and a health sciences research and commercialization park, that in partnership with the University of Louisville, has lured nearly 70 top scientists and researchers. Louisville is also home to , one of the nation's largest health insurance companies.Louisville is home to nearly two dozen major corporations and organizations: . Other distilleries and related businesses can also be found in neighboring cities in Kentucky, such as Bardstown, Clermont, Lawrenceburg and Loretto.Louisville also prides itself in its large assortment of small, independent businesses and restaurants, some of which have become known for their ingenuity and creativity. In 1926 the Brown Hotel became the home of the Hot Brown ""sandwich"". A few blocks away, the Seelbach Hotel, which F. Scott Fitzgerald references in The Great Gatsby, is also famous for a secret back room where Al Capone would regularly meet with associates during the Prohibition era. The drink the Old Fashioned was invented in Louisville's Pendennis Club.Several major motion pictures have also been filmed in or near Louisville, .

 

"

 

More Trucking Factoring Companies Story Articles

"

Factoring in the Future of a Trucking Business: A Story Allen Ellis let the phone ring on his desk. He let his morning coffee cool and left his cigarette to ash itself in the tray, because he is trying to make the biggest decision ever for his trucking company. Ellis 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.

 

Allen�s father had started as an owner-operator and had grown Ellis Trucking Company into a fifteen trailer fleet over forty years. There had been some hard times when it seemed everything was going to go under and even Allen�s mother strapped herself into a cab to make hauls. His father had worked long enough to see the price of hires drop dramatically during the recession and to see the explosion of fuel prices afterwards. But now things were different: the company was in Allen'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. He had employees to pay. They had families and household bills too. 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. He knew that turning down these requests made Ellis Trucking look inefficient and weak in what was currently a strong market.

 

His father would have told him to wait and to take his time adding on new technology. Allen chuckled, thinking about his father. His father had been against placing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). 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.

 

Allen knew he was right in his forward thinking. How would he take Ellis Trucking to the next level? And how would he be able to afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

He wondered about factoring - was this the answer for him? If he was being honest, he did not really understand how it all worked. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. 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. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Allen had to really consider what his next step was going to be. Allen had heard that there were companies that charged for same day money transfers and would only advance a percentage of the money owed to your company while holding the rest in a private account if they didn�t get their bill payment within 60 or so days. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. 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. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He didn�t mind signing an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. He was more than happy with the figures he was offered in percentage terms on the freight bills. It was good money.

 

For Allen 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 Allen 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 Ellis 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.

 

Allen 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, Allen could actually expand Ellis Trucking Company further across the country and perhaps even go international into Canada. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

"

 

 

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Trucking Factoring  Articles

"

�So It is not a loan?� asked Neil Spencer, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she stated.Neil Spencer owned a small trucking company, and his business had recently fallen on difficult times. Trucking could be a profitable business, and for a little under a decade, it had been for Frederick. His company was called Hawkins Trucking, named after both of his grandfathers, Dwayne and Mathew. Both of these men had been very hardworking and had set a great example for Frederick.Six months ago disaster struck Frederick's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. Neil 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 Neil had on hand.A big problem a lot of trucking companies came across was how bills were paid in the industry. You could go a month or more before bills were completely paid off. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Neil wasn�t a bad owner, and he hadn�t messed up. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.And that's why he found himself across the desk from this woman. Her name was Audrey and she worked for a factoring company. Neil 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.Audrey explained. �it is really not a loan at all: we actually buy your accounts receivable. we are not giving you finance to be repaid later: we are purchasing something from you, and when you can you can buy it back. This is a win-win situation: we are protected from a total loss, and you're protected from the ridiculous fees and charges you'd have to pay if you borrowed from a bank.Neil nodded. It sounded good to him, almost too good.Audrey laughed. �You look like you don�t believe me,� she said.�Oh no, I do: it just sounds too good to be true. I thought I was going to lose my company.�Audrey 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. We all need help sometimes. That's why we do what we do.""Well, I'm very grateful that you came to see me today.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� said Audrey with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.

 

Neil completed the form, with Audrey offering advice as needed.

 

The completed profile gave Audrey and her company all the information they needed on Frederick's business, and with this information they would determine if this business would in fact be suitable for Factoring. Unfortunately, not all companies are. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. As Neil completed his form, Audrey listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Audrey took it and slid it into her briefcase. She then stood, reached across the desk and shook Frederick�s hand. He also stood up, and they smiled at each other. Neil walked Audrey 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 leaned back and closed his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. But now, after speaking to Audrey and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off 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. Already he could feel all the stress start to drain 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.Neil couldn�t help but think back to when he had first started the business. At twenty-two and straight out of school he had opened a restaurant. It had been really successful. Offering home cooking in his own hometown, his business had really prospered.But it wasn't what he really wanted to do. His passion didn�t lie with 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 Hawkins Trucking. So he did it. Once again he built a company from the ground up. He had been successful.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was 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, because of factoring, he was sure he wouldn�t have to. Frederick's eyes opened, he sat forward in his chair and turned on his computer. He had lots 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 Trucking Firms Work with Factoring Firms.

 

As the manager of your own establishment, you may be much more than aware already of the hardship in making sure that capital issues do not become a predicament down the line. Anyway, the most unfortunate thing that can in all probability occur for your company is to find yourself swept up in a long and troublesome situation that leaves you forever looking for the finances you need on an continuing manner.

 

For any firm in this scenario, the concern can come for waiting for work to lapse and actually be brought in into your balance. Statements, checks, and the like could take a long time to actually to be taken care of which can easily leave you with temporary cash flow problems. Luckily, there are approaches out there for businesses to look into-- and among these is factoring firms.

 

Factoring agencies will, in exchange for your bill of sales, give you with the money right away so you do not have to fret about the lingering time frame that could make paying the bills and obtaining materialsmore complicated. With this form of arrangement, invoice factoring can end up being extraordinarily practical for various enterprises who need to get out of a money lure which they have gotten themselves in.

 

Because, depending on the size of the task, it can take up to 60 days for some business enterprises to get paid then it is necessary to cover your own back and certainly not leave yourself money short to pay the expenses. After all, how many firms have two months earnings just occupying there to cover all their spendings till they earn?

 

This is primarily true of truck firms. They generally deal with lots of statements which means a significant quantity of collection time demands business owner themselves. Trying to get paid promptly can come to be an amazing headache and this is the reason why you work with trucking factoring companies who are glad to help out truckers mainly.

 

As we all understand, trucking is an extremely enormous market with plenty of agencies out there handling hundreds of vehicle drivers. The sad thing is, several of these drivers wind up in finances issues because they are still waiting on work from six weeks previously to actually pay them. When this is the scenario for a trucking agency, choosing factoring firms for support could be the very best option left.

 

This indicates that a trucking company can provide the salaries of the crew, keep all the cars refilled with fuel and continue to scale, evolve and expand without consistently waiting for the funds which is taking too lengthy to come in. Trucking Businesses working without a factoring system put in place are leaving themselves at significant threat, as contenders cash out promptly and carry on to grow.

 

There's genuinely very little to be worried about when it comes to working with a Factoring company-- they are not like a financial institution or any individual who is going to leave you with a substantial stack of personal debt to pay back. You give them genuine invoices from work you have already finalized , you are only expediting the repayment system.

 

In the United states of America, where truck establishments thrive, factoring agencies are not considered taking on loan in any capacity. This confidential contract then enables both groups to make money and indulge in a comfortable future-- it gives the factoring firm a guaranteed resource of earnings to add to the list and it supplies the trucking firm the required finances that they worked hard to gain.

 

The trucking company gives their invoices to the factoring company. The trucking factoring company then receive the payments from the trucking company's customers. Factoring has beenaround for hundreds of years and has been used for decades by lots of various industries-- but none much more so than truckers. While you might possibly lose out on a small part of the money, something like 1-3 % depending upon who you partner with, it signifies that you are obtaining the money today and can actually begin putting the resources to perform.

 

After all, an IOU or an invoice is absolutely not going to finance expenditures, is it? For trucking enterprises when the resources can be excellent one day and gone the next, it is up to the drivers to work prudently and to guarantee they are leaving themselves with a considerable measure of time and money to get through the week till they are paid once more.

 

So the next occasion your trucking business is enduring some temporary capital dilemmas and you are shelling out excessive time chasing slow paying customers, why not start off thinking of employing a factoring businesses as a manner to get your finances and give yourself a more pleasant future in the eyes of your trucking workers and your bank balance?

 

 

 

 

 

 

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Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. While these loans are handy they are not 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. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Once the loan is paid off, you can then apply for another loan if the need arises.

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. 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.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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

 

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

 

3. Receive Your Money Faster. With a Trucking Factoring company you can actually get the money you need faster. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.Interest is Paid Up Front. With a bank loan interest continues to build, and this has to be paid the whole time you have a business loan; however with a Trucking Factoring company there is no interest - they take it right off the top by deducting it from the total amount of receivable accounts. So not only are you relieved of those monthly loan payments, but you also do not have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a bank. The most important benefits is that once you sell your accounts receivable to the factory company, you do not have to take time away from running your business to collect the money owed from reluctant to pay customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

Another bonus is that, because the Trucking Factoring company has evaluated the quality of your customers' credit before buying the accounts receivable, you learn valuable information regarding your customers, like which ones are likely to pay, and which ones are less likely to pay.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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