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Only Companies with imagination can take it - Our Receivable Factoring Company Can Give
Your Truck Company The Cash Your Company Needs

businessfinanceresource.org

transportation factoring trucking

trucking factoring companies reviews

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Invoice Factoring is beneficial for numerous factors. It allows a trucking business to raise cash without acquiring brand-new financial obligation. While financial obligation is occasionally necessary, the majority of truck businesses would prefer to raise money without obtaining cash. Financial obligation is risky, and when it can not be repaid, possessions can be repossessed. If the financial obligation is large enough, it might even compel a freight broker firm out of business.

 

 

 

 

 

 

 

How To Rob Banks Legally - Pick A Truck�Factoring Company  Instead Of A Typical Bank Funding

How to Increase Cash Flow Without Loaning -Cash Money flow is among the primary reasons businesses fail.

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

Money flow does not have to be a problem any ever more. Do not be fooled -- banks are not the only locations you can get funding. Other options are available and you do not have to borrow. Exactly what is trucking factoring ? One solution is called trucking factoring. Trucking Factoring is the procedure of offering accounts receivable to an investor rather than waiting to gather the cash from the client. Oh, the Irony- Trucking factoring has an ironic distinction: It is the financial backbone of many of America's most effective companies. Why is this ironic ? Since staffing factoring is not instructed in business colleges, is rarely discussed in company strategies and is fairly unknown to bulk of most of American company people.

Yet it is a monetary procedure that frees billions of dollars every year, enabling thousands of businesses to grow and prosper. Commercial Factoring has actually been around for thousands of years. FACTORING Companies are financiers who pay money for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your client has agreed pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business deals, a big portion of the retail company utilizes a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail transactions. Using the purest meaning of the word, these big customer finance business are truly just big Trucking Factoring Companies of customer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The shop makes money practically immediately, even though you do not make payment until you are ready.

For this service, the credit card company charges Sears a charge (typical common normal charges vary from 2 to four percent of the sale). The Benefits Receivable Financing can offer numerous benefits to cash-hungry companies. Rather than wait 30, 60, 90 days or longer for payment on a product that has currently been provided, a company can factor (sell) its receivables for cash at a little price cut off the amount of the invoice. Payroll, marketing efforts, and working capital are simply a few of the business needs that can be satisfied with instant  cash.

Receivable Financing provides the means for a manufacturer to renew stock and make even more products to sell: There is no longer a need to wait for earlier sales to be paid. Receivable Loan Financing is not simply a money management device for manufacturers: Almost any kind company can take advantage of Trucking Factoring. Generally, a company that extends credit will have 10 to 20 percent of its annual sales tied up in invoices at any given time. Think for a minute about exactly how much is tied up in 60 days' worth of invoices: You can not pay the power expense or today s payroll with a customer s invoice, but you can sell that invoice for the money to satisfy those obligations. Using truck factoring companies is a fast and easy process. The factoring company purchases the invoice at a price cut, typically a few percentage points less than the stated value of the invoice.

 

 

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The U.s. Truck Association
mentions that there around
195,000 employees with freight trucking
businesses and
250,000 private providers trucking
companies licensed to
operate in the U.S. that carried,
according to their most current data of millions
products, supplies and
basic materials .
There are several usual
providers either going solo or in
teams on our country
roadways carrying these
important items to our
stores, manufacturingplants and harbors.

And freight invoice factoring
businesses support
many of them and offer their
receivable loan services
countrywidecomprising
including the following states.

: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho State, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming

 

"

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

 

"

 

View Our Freight Factoring YouTube Videos For More Information

 

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

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.

 

 

"

Since the mid 1980s Morrison Truck & Haul have been successfully running their freight business. 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 boom times from 2002 to 2007 Morrison Truck & Haul was the mastermind of a top-rated accounts receivable in 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. Cash was flowing and times were good for all.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed to a crawl

 

. Worse still, it was noticed by Morrison in early 2008 that even though most of their loyal customers were on time with their payments, there were a few late bloomers who were starting to spread the disease. Spring changed to summer, summer changed to fall, and the CEO of Morrison, Ron Mills, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. There was a growing list of clients who now owed them back debt.He had 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? By his bookkeepers records, this wasn't the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. They could not afford to pay him their debt, but they could afford a lesser service, maybe. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Morrison hadn't gone elsewhere. They had just gone home.To Ron Mills 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. At night he would speak to his wife Bessie and shake his head in frustration.

 

""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would say.Ron would stare off into the distance, and then slowly close his eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them on the road, delivering good to all his loyal customers. But 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 know what it is,"" said Ron. ""For way too long I've been relying solely on profits received from invoices. For too long I've been allowing our clients to let their accounts become overdue."" Linda could only grab her husband's hand and look at him lovingly, ""it is a hard economy. It might be awhile until things get settled up.

 

""Ron knew very well that Bessie was only trying to help, but his responsibilities weighed heavily on his shoulders and he knew he had better do something soon to resolve this situation.The next day Ron strolled into his office and was determined to sit down and make every phone call to every client who had owed Morrison money. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. A waste of time - a waste of money - he had the best intentions, but all the while Ron 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 Bobbieerley knocked at his door.

 

""Ron, can I have a word?"" she queried, standing in the doorway.

 

""Of course Bobbie, please come in."" Ron relaxed back into his chair and looked up at Bobbieerley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Ron."" 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 of factoring?"" she asked.""It does sound vaguely familiar. What is factoring""? he asked.""Well,"" she began, ""It�s actually quite simple really.

 

Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Ron interrupted ""Immediately?"".""Immediately, yes"" she added, ""it is actually very simple. We start by having a professional account manager review our figures and help us set up a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It provides a very broad view.""I see,� Ron 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. We come to an agreement and the funding starts pouring out.�Leaning forward, Ron studied the documents very closely.""I do not know, Bobbie - it just sounds too good to be true"", Ron said quietly.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Ron: 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, Ron,"" she underlined a paragraph on the paper before him.""Just how flexible?"" he asked.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. 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. 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,"" Ron said.Ron took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Precisely�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Ron thought about this and agreed with Bobbieerley. The customers who were in debt to Morrison Truck & Haul were professional resources of the company, but they were also long-standing friends. Ron wasn't prepared to lose these relationships just because they were having financial issues at the moment. 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. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. 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 Bobbie, thank you."" Bobbie nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Ron sat behind his desk and looked over the details Bobbie had not mentioned in their meeting. What other issues could freight factoring help Morrison with? Running his pencil down the sheet, he noted that the freight factoring company could assist with fuel costs, fuel advances, and fuel discount cards. In fact, Morrison could receive up to fifty-percent cash advances upon load pick-ups. Ron 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.""I must tell Marion the good news,"" muttered Ron to himself.Ron's son-in-law, Marion, loved the idea behind Morrison 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 Ron knew the struggles Marion would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Morrison was struggling then the little guys, like Marion, were going to be in even more trouble. But, maybe the answer for both of them was in freight factoring, and Ron 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 Ron 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. Ron looked back on the dismal months of life before freight factoring and almost shuddered at the thought. He probably wouldn't be in business today had he not learned just in time about freight factoring.

 

"

 

"

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

 

"

 

More Trucking Factoring Companies Story Articles

"

The Future of a Trucking Company, and Factoring Nathaniel Vasquez let the phone ring on his desk. His morning coffee cooled and his cigarette smoked away in the tray: Nathaniel is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Vasquez 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.

 

Nathaniel�s father had started as an owner-operator and had grown Vasquez 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 Nathaniel�s mother strapped herself into a cab to make hauls. His father had worked long enough to see the price of hires drop dramatically during the recession and to see the explosion of fuel prices afterwards. Now the company was solely in Nathaniel�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. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. Every time he had to turn down a request, Vasquez 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. Nathaniel 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?� 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. His father days were long gone and technology was actually an important improvement for the business such as having Qualcomm to cut down on fruitless time communicating on the phone for bills of lading.

 

Nathaniel knew he was right in his forward thinking. How would he take Vasquez 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. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

But was factoring the answer? There was a lot he didn�t understand about the process. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. Without this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Now it was time for Nathaniel to do his homework. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! 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. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He was quite happy to sign an exclusive contract. 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. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It sounded like a great scheme to him.

 

For Nathaniel 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 Nathaniel because he and his father had created a very strong and loyal list of clientele over the years. So he knew they would understand when the factoring company contacted them for the invoices. His clients would not have any problems, nor would they think poorly of Vasquez 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.

 

Nathaniel 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, Nathaniel could actually expand Vasquez 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

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�So It is not a loan?� Zachary Ortiz asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Zachary smiled at him, shaking her head.�No, not exactly,� she stated.Zachary Ortiz owned a small trucking company, and his business had recently fallen on difficult times. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Lawrence. His company was called Medina Trucking, named after both of his grandfathers, Lester and Chester. Both of these men had been very hardworking and had set a great example for Lawrence.Disaster had struck half a year ago, when two trucks in Lawrence�s fifteen truck fleet went down. One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. Zachary 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.Zachary was an excellent business man, and he certainly hadn't done anything wrong. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.And that's why he found himself across the desk from this woman. Her name was Valerie and she worked for a factoring company. Zachary had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.She sat there now, and explained. �it is really not a loan at all: we actually buy your accounts receivable. we 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.Zachary nodded. It sounded perfect - perhaps too good?.The woman laughed. �You look like you don�t believe me,� she chuckled.�No, I do, I just think it sounds a bit too good to be true. I thought I was going to lose my company.�Valerie smiled, agreeing. �Yes, we get a lot of that. There's no way we want to see you lose your business. You work hard, you�ve put everything you can into it. Sometimes you need help. That�s what we�re here for.""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,� Valerie said with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Zachary filled the form out, with Valerie available to help him if he needed it. The profile filled Valerie and her company in on Lawrence�s company, and would help them determine if he was suitable for factoring. Unfortunately, not all companies are. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. Listening as Zachary filled out his form, Valerie was pretty sure he was a perfect candidate for factoring.Valerie took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Lawrence's hand. He stood before they shook as well, and then smiled. Zachary walked Valerie to the door where they said 'Goodbye', then he went back into his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He leaned back and closed his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. But now, after speaking to Valerie and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.The long nights, where he couldn�t sleep. The sudden panic attacks, not matter where he was. He could feel it all fading away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.His mind wandered back to the very beginning, when he first started his business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been 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 long and hard, and then he decided to sell the restaurant. He took six months off, and during that time he decided to create Medina Trucking. And that's exactly what he did. For the second time in his short life he created a company from the ground up. He had been successful.And then the trucks went down, and his success looked to be in flux. He was about to turn fifty. He didn�t think he had it in him, to save this company. But giving up wasn't part of his personality either.

 

The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He did not want to quit - both for himself and for his staff members.And now it seemed as though he would not have to - all because of Factoring. Zachary opened his eyes, sat forward, turned his computer on. He had things to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

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More Trucking Factoring Company Story Articles

Precisely why Trucking Agencies Employ Factoring Companies.

 

As the manager of your own firm, you may perhaps be more than knowledgeable already of the challenge in making sure that capital issues do not become a predicament down the line. After all, the worst thing that can possibly develop for your business is to find yourself embroiled in a long and tough predicament that leaves you forever trying to find the cash you need on an continuous manner.

 

For any type of enterprise in this instance, the concern can come for waiting for work to lapse and actually be paid out into your statement. Statements, checks, and the like could take some time to actually to beprocessed which can leave you with temporary available resources difficulties. Thankfully, there are alternatives out there for enterprises to check out-- and just one of these is factoring companies.

 

Factoring providers will, in exchange for your statements, provide you with the cash money right now so that you do not have to worry about the waiting time frame that could make paying off the expenses and purchasing materialsmore hard. With this kind of setup, invoice factoring can come to be extremely valuable for various companies who need to avoid a cash trap which they have discovered themselves in.

 

For the reason that, depending on the size of the job, it can take up to 60 days for some business enterprises to get compensated then it is critical to take care of your own back and certainly not leave yourself funds short to pay the monthly bills. After all, how many enterprises possess two months cash flow just occupying there to handle all their expenses till they make money?

 

This is especially true of truck establishments. They generally manage good deals of statements which means a significant amount of collection time concerns company owner themselves. Making an effort to get paid off in time can develop into an amazing headache and this is the reason why you work with truck factoring organizations who are delighted to help out truckers primarily.

 

As most of us understand, trucking is an unbelievably huge field with numerous companies out there handling hundreds of vehicle drivers. Sadly, numerous of these drivers wind up in finances troubles simply because they are still waiting for work from six weeks back to actually compensate them. When this is the situation for a trucking agency, resorting to factoring agencies for assistance might be the most recommended choice left.

 

This implies that a truck firm can pay the salaries of the crew, keep all the trucks refilled with gas and continue to scale, flourish and expand without consistently waiting for the cash which is taking too prolonged to come in. Trucking Businesses operating without a factoring program established are leaving themselves at critical threat, as rivals cash out quickly and go on to broaden.

 

There's genuinely not a thing to be worried about when it comes to using a Factoring company-- they typically are not like a financial institution or an individual who is going to leave you with a big stack of liability to repay. You give them legitimate invoices from output you have already accomplished , you are only speeding up the payment process.

 

In the Usa, where truck firms develop, factoring enterprises are not considered getting a loan in any capacity. This confidential agreement then permits both parties to make money and take joy in a worry-free future-- it provides the factoring business a guaranteed asset of income to add to the list and it offers the trucking business the needed funds that they worked hard to acquire.

 

The trucking business provides their invoices to the factoring establishment. The trucking factoring company then take the installment payments from the trucking company's customers. Factoring has beenaround for hundreds of years and has been adopted for several years by several diverse business sectors-- but none more so than truckers. While you might lose out on a small part of the money, something like 1-3 % depending upon who you team up with, it implies that you are acquiring the finances today and can actually begin setting the funds to do work.

 

Once and for all, an IOU or an invoice is not going to cover expenses, is it? For trucking agencies when the funds can be fantastic one day and gone the next, it is up to the drivers to work sensibly and to make sure that they are leaving themselves with a substantial amount of time and finance to get through the week up until they are handed over once again.

 

So the next instance your trucking establishment is enduring some short-term capital dilemmas and you are devoting way too much time chasing sluggish paying customers, why not begin considering making use of a factoring companies as a means to get your cash and give yourself a more pleasant future in the eyes of your trucking crew and your bank balance?

 

 

 

 

 

 

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Traditional 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. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. 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.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once 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. There is no debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. No Collateral Required. Another great benefit of using the services of a Trucking Factoring company instead of a bank loan is that there is no collateral required for the Trucking Factoring company, because the Trucking Factoring company is buying your accounts receivables. 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. You'll receive the money faster. With a Trucking Factoring company you can actually get the money you need faster. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.Interest is Paid Up Front. 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 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 efficient at debt collecting, and this frees up your valuable time to devote to running your 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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