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Thousands Now Play Who Never Thought They Could - Our Receivable Loan Company Can Provide
Your Trucking Company The Money You Need

businessfinanceresource.org

factoring trucking receivables

trucking factoring companies reviews

factoring companies for trucking industry

factoring services for trucking companies

Factoring invoices is advantageous for a number of factors. It permits a trucking business to raise money without acquiring new financial obligation. While financial obligation is often needed, the majority of trucking companies would prefer to raise money without obtaining money. Debt is high-risk, and when it cannot be paid back, properties can be repossessed. If the financial obligation is big enough, it may even compel a trucking firms out of business.

 

 

 

 

 

 

 

I gave away my receivables - and made more money too - Choose A Freight�Invoice Factoring Company  Instead Of A Typical Bank Funding

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

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

Cash flow does not have to be an issue any more. Do not be deceived -- banks are not the only places you can get funding. Other solutions are offered and you do not have to borrow money. What is truck factoring ? One option is called truck factoring. Truck Factoring is the process of selling invoices to a financier rather than waiting to gather the money from the client. Oh, the Irony- Truck factoring has a paradoxical distinction: It is the monetary backbone of numerous of America's most successful companies. Why is this paradoxical ? Because staffing factoring is not instructed in business colleges, is seldom mentioned in company plans and is relatively unidentified to the majority of most of American business people.

Yet it is a monetary procedure that frees billions of dollars every year, allowing thousands of businesses to grow and prosper. Accounts Receivable Factoring has been around for thousands of years. Receivable Loan Financing Companies are financiers who pay money for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your customer has actually agreed pay in the near future. Factoring Principals--Although factoring offers solely with business-to-business deals, a big percentage of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail deals. Using the purest definition of the word, these big consumer finance companies are really just big Accounts Receivable Factoring Companies of consumer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The shop makes money practically immediately, although you do not pay up until you are prepared.

For this service, the charge card business charges Sears a fee (typical common normal fees range from 2 to four percent of the sale). The Advantages Trucking Factoring can provide numerous benefits to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on an item that has actually already been delivered, a business can factor (sell) its receivables for cash at a little discount off the dollar value of the invoice. Payroll, marketing efforts, and working capital are simply a few of the business requirements that can be met with instant  money.

Factoring provides the ways for a producer to renew stock and make even more items to sell: There is no longer a need to wait for earlier sales to be paid. FACTORING is not simply a money management device for producers: Practically any kind company can take advantage of Receivable Loan Funding. 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 moment about exactly how much is bound in 60 days' worth of invoices: You can not pay the power expense or this week s payroll with a client s invoice, however you can sell that invoice for the cash to meet those responsibilities. Using trucking factoring companies is a fast and simple procedure. The factoring company buys the invoice at a discount, typically a few portion points less than the stated value of the invoice.

 

 

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chandler-factoring-companies

 

The American Truck Organization
states that there are about
200,000 employees with truck
companies and
250,000 private service providers trucking
firms certified to
run in the States that transported,
according to their latest listings of millions of
products, supplies and
standard materials .
There are a number of usual
carriers either going solo or in
groups on our nation
roadways transporting these
vital products to our
shops, factories and ports.

Plus freight bill factoring
corporations help
several of them and offer their
receivables financing facilities
nationallycounting
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

 

"

Chandler is a city in Maricopa County, Arizona, United States, and is a prominent suburb of the Phoenix, Arizona, Metropolitan Statistical Area (MSA). It is bordered to the north and west by Tempe, to the north by Mesa, to the west by Phoenix, to the south by the Gila River Indian Community, and to the east by Gilbert. As of July 2012, the population was 240,101 according to the United States Census Bureau, however, according to the city's official website, Chandler's Planning Division estimated the population as of September 2012 being 239,610. It also has satellite locations for many technology companies,.Computer chip manufacturer Intel has an iuential role in city growth strategies with four locations in the municipal area, including its first factory to be designated ""environmentally sustainable"" under current Leadership in Energy and Environmental Design (LEED) criteria. Other high-technology manufacturing firms have partnerships with the local government, their operations employing approximately twenty-five percent of non-government workers in 2007. Although per capita employment growth in the sector has been in decline in Arizona since 2000, semiconductor and other electronic component manufacturing was largely unaffected; a series of customized grants for the training of net new employees, incorporating the Phoenix urbanized area (twenty-seven thousand workers now commute to work in other communities), resulted in a larger market share of (Californian) industry.Since 2003, more than 2,900 jobs and investments totalling $3 billion have been created along the Price and Santan freeways, between Arizona Avenue and Gilbert Road in the so-called South Arizona Avenue Corridor. Three shopping malls provide a ""strong attraction"" to such an open-ended, high exposure trade area: the 1,300,000-square-foot (120,000 m2) Chandler Fashion Center, opened in 2001, has spurred on several courts and laneway developments. In the southern end of the Corridor, - is expected to draw business from as far south as the Hunt Highway, bringing with it a ""large consumer population"" which will improve ""the image and perception of the area"" in the mindset of many Greater Phoenix residents and state commercial retailers. The northern portion is ""attractive and possesses the historic character"" for success, which ""can be grown to the south"".

 

"

 

Watch Our Trucking Factoring YouTube Videos For More Information

 

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:

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

 

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.

 

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

 

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

 

 

"

Montgomery 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, Montgomery 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. 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 to a crawl

 

. And worse yet, Montgomery 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. And as spring turmed to summer and summer into the early days of fall, Raul Hayes, CEO of Montgomery felt a chill go down his spine whenever he would look at the weekly A/R reports. There was a growing list of clients who now owed them back debt.He had already been to the administrators to ask what the actual problem was. Were they doing something wrong or different when it came to reaching out to delinquent 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 Montgomery 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 Montgomery hadn't gone elsewhere. The had just gone!.The situation looked dire to Raul Hayes. 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. In the evenings he would discuss his concerns with his wife, Stacey, and still find no relief from the worry and frustration.

 

""I have a bad feeling, Lin,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would say.Raul would stare off for a moment and then close eyes. He could see the fleet of trucks he had purchased over the years. He could see them on the road, delivering good to all his loyal customers. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. What could cause this ultimate death spiral of business?""I think I know what it could be,"" Raul said. ""For way too long I've been relying solely on profits received from invoices. I've let too many of our customers go too long without paying on their bills."" All Stacey could do was hold his hand and look at him tenderly. 'We know it is a difficult economy at the moment - perhaps it will take a while for people to get on top of their bills'.""Raul knew very well that Stacey 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 Raul walked into his office with a spring in his step, determined to call each and every client who owed money to Montgomery Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Raul 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 Raul 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 Dianeerley knocked at his door.

 

""Can I have a word with you Raul?"" she queried, standing in the doorway.

 

""Sure thing Diane, come on in."" Raul leaned back in his chair and looked expectantly at Dianeerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Raul."" 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 does sound vaguely familiar. What is factoring""? he asked.She began, ""Well, it is really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Immediately?"" Raul interrupted.""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. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It provides a very broad view.""I see,� Raul 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. There�s a lot of flexibility depending on the business volume and credit histories. 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.�Raul was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Diane,"" he said.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Raul: 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. They appear to be very flexible, Raul,"" 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. It only takes 2 to 4 days for this to be figured out. ""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" said Raul.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.""Raul 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 Montgomery. Just because they were experiencing difficulties paying their own bills now, Raul was very concerned about losing these relationships. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. That unknown amount of time 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 Diane, thank you."" Diane stood up and left Raul's office, with the nice feeling of knowing that she may just have solved a very serious problem.Raul 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 Montgomery 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. Raul was surprised: it said that his company could get up to fifty percent cash advances on load pickups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""I must tell Leon the good news,"" muttered Raul to himself.Leon is Raul's son-in-law, and he really admired the ideas behind Montgomery, so much so that only two years before he had started his own transportation service business. At that time Raul knew the struggles Leon would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Montgomery was struggling then the little guys, like Leon, were going to be in even more trouble. But, maybe the answer for both of them was in freight factoring, and Raul 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 Raul 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 took that time and refocused effort to offering competitive prices in new territories. Raul recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

"

Chandler is a city in Maricopa County, Arizona, United States, and is a prominent suburb of the Phoenix, Arizona, Metropolitan Statistical Area (MSA). It is bordered to the north and west by Tempe, to the north by Mesa, to the west by Phoenix, to the south by the Gila River Indian Community, and to the east by Gilbert. As of July 2012, the population was 240,101 according to the United States Census Bureau, however, according to the city's official website, Chandler's Planning Division estimated the population as of September 2012 being 239,610. It also has satellite locations for many technology companies,.Computer chip manufacturer Intel has an iuential role in city growth strategies with four locations in the municipal area, including its first factory to be designated ""environmentally sustainable"" under current Leadership in Energy and Environmental Design (LEED) criteria. Other high-technology manufacturing firms have partnerships with the local government, their operations employing approximately twenty-five percent of non-government workers in 2007. Although per capita employment growth in the sector has been in decline in Arizona since 2000, semiconductor and other electronic component manufacturing was largely unaffected; a series of customized grants for the training of net new employees, incorporating the Phoenix urbanized area (twenty-seven thousand workers now commute to work in other communities), resulted in a larger market share of (Californian) industry.Since 2003, more than 2,900 jobs and investments totalling $3 billion have been created along the Price and Santan freeways, between Arizona Avenue and Gilbert Road in the so-called South Arizona Avenue Corridor. Three shopping malls provide a ""strong attraction"" to such an open-ended, high exposure trade area: the 1,300,000-square-foot (120,000 m2) Chandler Fashion Center, opened in 2001, has spurred on several courts and laneway developments. In the southern end of the Corridor, - is expected to draw business from as far south as the Hunt Highway, bringing with it a ""large consumer population"" which will improve ""the image and perception of the area"" in the mindset of many Greater Phoenix residents and state commercial retailers. The northern portion is ""attractive and possesses the historic character"" for success, which ""can be grown to the south"".

 

"

 

More Trucking Factoring Companies Story Articles

"

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

 

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

 

There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. 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, Jackson 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. Paul 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?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. 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.

 

Paul knew he was right in his forward thinking. How would he take Jackson 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.

 

But was factoring the answer? 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. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Now it was time for Paul to do his homework. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. 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 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?

 

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. 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. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. Many companies offered a non-recourse factoring program that suited him just fine. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It sounded like a great scheme to him.

 

For Paul 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. Factoring was based on the credit of his customers and on their reliability which worked well for Paul because he and his father had built up good strong relationships over decades with their list of clients. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients wouldn�t think poorly of Jackson Trucking and the factoring companies appeared capable of handling the accounts receivable in the same polite manner that his father had used over the years.

 

Feeling happier now, Paul stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. He suddenly realized that, with this new cash flow, he could actually expand Jackson Trucking Company and who knows, move into Canada, which had always been his dream. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

"

 

 

View Our Truck Factoring Companies Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So, this is not a loan?� asked Ronnie Willis, 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 said.Ronnie 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 Samuel. He named his business Spencer Trucking, named after Brandon and Willard, his two grandfathers. They had both been hardworking men, and had done a lot to make Ronnie the same.Six months ago disaster struck Samuel's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. Ronnie depended on his full fleet, and missing two trucks was devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

You could go a month or more before bills were completely paid off. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Ronnie wasn�t a bad owner, and he hadn�t messed up. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.And that's why he found himself across the desk from this woman. Her name was Jennie and she worked for a factoring company. Ronnie 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.Jennie 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.Ronnie agreed. It sounded perfect - perhaps too good?.Jennie laughed. �I'm not sure that you believe me,� she said.�No, I do, I just think it sounds a bit too good to be true. I actually thought I might end up losing my business.�Jennie nodded. �We get that a lot. There's no way we want to see you lose your business. We know how hard you work, and that you've invested everything in your business. Sometimes you need help. That's why we do what we do.""In any case, thank you for coming to see me.""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 Jennie with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.

 

Ronnie filled the form out, with Jennie available to help him if he needed it. The profile filled Jennie and her company in on Samuel�s company, and would help them determine if he was suitable for factoring. Unfortunately, not all companies are. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. Listening as Ronnie filled out his form, Jennie was pretty sure he was a perfect candidate for factoring.When the form was done Jennie took it and slid it into her briefcase. Standing up, she reached over the desk and shook Samuel's hand. He stood before they shook as well, and then smiled. They said their goodbyes and Ronnie walked her to the door, and then returned to his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He shut his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. But now, after speaking to Jennie 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.The long nights, where he couldn�t sleep. 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 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.Ronnie 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. Home cooking in his hometown, and he had done very well.But he had gotten bored. 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 Spencer Trucking. So he did it. For the second time in his short life he created a company from the ground up. The business had been an instant success.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 didn�t know how to say quit.And now, because of factoring, he was sure he wouldn�t have to. Ronnie 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

Why Truck Agencies Make use of Factoring Firms.

 

As the manager of your own business enterprise, you may likely be more than aware already of the challenge in making sure that capital matters do not become a difficulty down the line. Anyway, the most awful thing that can in all probability take place for your business is to find yourself dragged in a long and perplexing circumstance that leaves you forever looking for the funds you really need on an on-going basis.

 

For any sort of company in this circumstance, the problem can come for waiting for work to clear up and actually be paid into your account. Invoices, checks, and the like could take a long time to actually to beprocessed which can certainly leave you with short-term available resources problems. Luckily, there are opportunities out there for establishments to investigate-- and just one of these is factoring providers.

 

Factoring providers will, in exchange for your accounts, give you with the money right away to make sure that you do not need to fret about the lingering duration which could make paying out the expenses and acquiring materialsmore troublesome. With this kind of system, invoice factoring can come to be incredibly practical for various companies who ought to avoid a cash pitfall which they have found themselves in.

 

Since, basing on the scale of the work, it can take up to 60 days for a number of firms to get paid then it is significant to cover up your own back and definitely not leave yourself resources short to pay off the monthly bills. After all, how many businesses have two months earnings just occupying there to deal with all their expenditures till they earn?

 

This is especially true of trucking establishments. They often tend to deal with lots of invoices which means a significant amount of collection time involves company owner themselves. Making an effort to get paid promptly can turn into an unbelievable inconvenience and this is the key reasons why you use trucking factoring providers who are happy to help out truckers primarily.

 

As we all determine, trucking is an amazingly huge industry with a lot of companies out there working with hundreds of drivers. Sadly, quite a few of these drivers end up in cash difficulties simply because they are still waiting for work from six weeks earlier to actually pay them. When this is the condition for a trucking agency, depending on factoring firms for support may be the very best choice left.

 

This implies that a trucking firm can pay the paychecks of the workers, keep all the vehicles topped off with gas and continue to escalate, evolve and expand without constantly waiting for the cash which is taking too lengthy to come in. Trucking Business enterprises working without a factoring system established are leaving themselves at significant risk, as contenders cash out promptly and carry on to grow.

 

There's genuinely nothing at all to be stressed about when it comes to using a Factoring firm-- they commonly are not like a financial institution or a person who is going to leave you with a considerable stack of liability to repay. You give them legitimate invoices from job you have already finished , you are merely accelerating the repayment process.

 

In the Usa, where trucking companies grow, factoring firms are not considered borrowing in any capacity. This confidential settlement then permits both groups to benefit and enjoy a comfortable future-- it provides the factoring agency a secured asset of money to put into the list and it furnishes the trucking business the needed funds that they sweated to get.

 

The trucking establishment bestows their invoices to the factoring company. The trucking factoring business then obtain the payment amounts from the trucking company's customers. Factoring has been all around for hundreds of years and has been employed for many years by many diverse fields-- but none much more so than truckers. While you may well miss out on a small part of the money, something like 1-3 % depending on who you deal with, it indicates that you are acquiring the resources today and can actually start setting the resources to work.

 

Once and for all, an IOU or an invoice is definitely not going to finance costs, is it? For trucking companies when the hard earned cash can be great one day and gone the next, it is up to the vehicle drivers to work smartly and to make sure that they are leaving themselves with a substantial volume of time and finance to get through the week till they are paid for again.

 

So the next time your trucking business is bearing some momentary capital problems and you are shelling out an excessive amount of time chasing inactive paying clients, why not start thinking of utilizing a factoring companies as a manner to get your finances and give yourself a more convenient future in the eyes of your trucking team and your bank dividend?

 

 

 

 

 

 

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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 offer loans, and you do not go into debt when you get money from a Trucking Factoring company. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to sell. Once 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.

 

What Are The Benefits Of A Trucking Factoring Company Versus A Traditional Bank Loan?

 

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

 

1. You will not Incur Debt. 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. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. There's no collateral required. Another 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. Using a Trucking Factoring company means that you'll get the finance quicker. 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. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.

 

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

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The 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.

 

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.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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Factoring Companies by City

New York City

Los Angeles


Chicago


Houston


Philadelphia


Phoenix


San Antonio


San Diego


Dallas


San Jose

Austin


Jacksonville


Indianapolis


San Francisco


Columbus


Fort Worth


Charlotte


Detroit


El Paso


Memphis

 

 

Boston


Seattle


Denver


Washington DC


Nashville-Davidson


Baltimore


Louisville/Jefferson


Portland


Oklahoma City


Milwaukee


Las Vegas


Albuquerque


Tucson


Fresno


Sacramento


Long Beach


Kansas City


Mesa


Virginia Beach


Atlanta

 

Colorado Springs


Raleigh


Omaha


Miami


Oakland


Tulsa


Minneapolis


Cleveland


Wichita


Arlington

 

New Orleans

Bakersfield

Tampa

Honolulu

Anaheim

Aurora

Santa Ana

St. Louis

Riverside

Corpus Christi

Pittsburgh

Lexington Fayette

Anchorage

Stockton

Cincinnati

St. Paul

Toledo


Newark

Greensboro

Plano

Henderson

Lincoln

Buffalo

Fort Wayne

Jersey

Chula Vista

Orlando

St. Petersburg

Norfolk

Chandler

Laredo

Madison

Durham

Lubbock

Winston Salem

Garland

Glendale

Hialeah

Reno

Baton Rouge

Irvine

Chesapeake

Irving

Scottsdale

North Las Vegas

Fremont

Gilbert town

San Bernardino

Boise

Birmingham

Rochester

Richmond

Spokane

Des Moines

 

 

 

 

 

Philadelphia

 

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