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Little Cash Flow Leaks That Keep Companies Poor - Our Truck Factoring Company Can Give
Your Freight Company The Money You Need

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truck driver factoring

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Invoice Factoring is useful for a number of factors. It enables a trucking company to raise cash without acquiring new financial obligation. While debt is often needed, the majority of truck companies would choose to raise cash without obtaining money. Financial obligation is high-risk, and when it can not be repaid, properties can be repossessed. If the debt is big enough, it could even force a truck companies out of business.

 

 

 

 

 

 

 

Profits That Lie Hidden In Your Company - Select A Receivable Loan C0mpany Instead Of A Regular Bank Funding

Exactly how to Enhance Money Flow Without Loaning -Cash Money flow is one of the main reasons businesses fail.

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

Cash flow does not have to be a problem any more. Do not be deceived -- banks are not the only locations you can get financing. Other solutions are available and you do not have to borrow money. Exactly what is trucking factoring ? One option is called truck factoring. Trucking Factoring is the process of offering accounts receivable to an investor rather than waiting to gather the money from the client. Oh, the Irony- Trucking factoring has a paradoxical difference: It is the monetary foundation of numerous of America's most successful companies. Why is this paradoxical ? Since trucking factoring is not instructed in business colleges, is rarely mentioned in business plans and is fairly unidentified to bulk of most of American business people.

Yet it is a financial process that frees billions of dollars every year, enabling countless companies to grow and prosper. Receivable Funding has actually been around for countless years. Invoice Factoring Companies are financiers who pay money for the right to get the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your customer has to pay in the near future. Factoring Principals--Although factoring offers solely with business-to-business deals, a large portion of the retail company utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail deals. Using the purest meaning of the word, these big consumer finance companies are really just big Commercial Factoring Businesses of customer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The shop makes money almost instantly, although you do not make payment up until you are prepared.

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

Accounts Receivable Factoring provides the ways for a manufacturer to replenish inventory and make more products to sell: There is no longer a need to await for earlier sales to be paid. Receivable Loan Financing is not just a money management device for manufacturers: Practically any kind business can take advantage of FACTORING. Typically, a company that extends credit will have 10 to 20 percent of its yearly sales tied up in accounts receivable at any given time. Think for a minute about how much is tied up in 60 days' worth of invoices: You can not pay the power bill or this week s payroll with a client s invoice, however you can sell that invoice for the cash to satisfy those responsibilities. Using truck factoring companies is a fast and easy procedure. The factor buys the invoice at a price cut, usually a couple of portion points less than the face value of the invoice.

 

 

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The U.s. Transportation Organization
specifies that there are about
195,000 work with freight trucking
businesses and
250,000 personal providers trucking
firms accredited to
operate in the United States that transferred,
according to their newest data of millions
products, materials and
basic materials .
There are numerous common
carriers either going solo or in
groups on our country
highways transferring these
important items to our
shops, manufacturingplants and ports.

Also freight invoice factoring
companies benefit
numerous of them and offer their
receivables financing services
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

 

Stockton is a city in Northern California and the county seat of San Joaquin County. Located on the San Joaquin River, Stockton has a population of 291,707 according to the 2010 United States Census and is the 13th-largest city in California.Stockton is situated amid the farmland of California's Central Valley. Interstate 5 and State Route 99, California's major north-south corridors, pass through the city. Stockton is connected westward with the San Francisco Bay by the San Joaquin River's 78-mile channel. With Sacramento, it is one of California's two inland sea ports. In and around Stockton are thousands of miles of waterways and rivers which make up the California Delta.The city hosts the annual Asparagus Festival. Its Haggin Museum is an art and history museum built in Victory Park in 1931. The museum displays 19th and 20th-century works of art and houses local historical exhibits. Stockton boomed as one of the largest cities in California, for a while the third-largest city, during the years of the Gold Rush and later 19th century.Stockton has recently struggled with violent crime, reaching a record high of 71 homicides in 2012 before dropping to 23 in the first nine months of 2013. The city had cut its police force by more than 20% during the 2008 subprime mortgage crisis, but a sales tax approved by voters on November 5, 2013 could fund an additional 120 police officers.Following regional losses to the economy due to the 2008 financial crisis, in July 2012, Stockton became the largest city in U.S. history to file for bankruptcy protection. It was surpassed by Detroit in July 2013. The city approved a plan to exit bankruptcy in October 2013, and voters approved a sales tax on November 5, 2013 to help fund the exit

 

 

View Our Truck Factoring YouTube Videos For More Information

 

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

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

 

Click below to find Trucking Companies in the United States:

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

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.

 

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

 

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

 

 

"

Woods Truck & Haul have been operating their business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the heady times from 2002 to 2007, Woods was a top rated accounts receivable mastermind of the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. The money was flowing, and times were great.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 down. Worse still, it was noticed by Woods 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. And as spring turmed to summer and summer into the early days of fall, Leonard Ross, CEO of Woods felt a chill go down his spine whenever he would look at the weekly A/R reports. The number of clients who were late in their payments was continuing to grow.He had already been to the administrators to ask what the actual problem was. Were they doing 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. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. They had just gone home.To Leonard Ross 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. In the evenings he would discuss his concerns with his wife, Florence, and still find no relief from the worry and frustration.

 

""Lin, I have a really bad feeling,"" he would say with deep woe.""Well, what do you think it is?"" she would ask.Leonard would stare off for a moment and then close eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them traveling, bringing goods to all of his clients. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. Why couldn�t he work out how to resolve this financial problem with his business?""I know what it is,"" said Leonard. ""I've relied too long on the profits I receive from invoices alone. For too long I've been allowing our clients to let their accounts become overdue."" Linda could only grab her husband's hand and look at him lovingly, ""it is a hard economy. It might be awhile until things get settled up.

 

""Florence was trying so hard to support her husband in these worrying times, while Leonard was weighed down with the worry of how he was going to handle this situation he found himself in.The following day Leonard walked into his office with a spring in his step, determined to call each and every client who owed money to Woods Truck & Haul. 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 Leonard 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 Esthererley knocked at his door.

 

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

 

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

 

So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Immediately?"" Leonard interrupted.""Yes, immediately,"" she continued, ""In a nutshell, it is pretty easy. We can have an expert account manager review our numbers and help us complete a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It�s a broad view.""I see,� Leonard said. �And then what?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

The company will advise us the cost to purchase factoring for our company's accounts receivable. The funding commences once we�ve arrived at an agreement.�Leonard was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Esther,"" he said.""Now, now, I know, I thought the same thing. But think about it, Leonard: 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, Leonard,"" she drew a circle around a paragraph on the document before him.""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. ""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" said Leonard.Leonard took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Precisely�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Leonard thought about this and agreed with Esthererley. The clients who owed them money were long standing friends and professional resources of Woods. Leonard wasn't prepared to lose these relationships just because they were having financial issues at the moment. Leonard knew only too well that the whole economy was floundering, and that it was not going to change overnight. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. Of course he did not want to lose any more money, but he did not want to lose business either.""Well, let me think about this tonight Esther, thank you."" Esther nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Leonard keep the shirt on his back, and possibly hers too.Leonard sat behind his desk and looked over the details Esther had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Woods Truck & Haul with? With his pencil gliding down the sheet he noticed that the factoring company could help fray the cost of fuel with fuel discount cards and fuel advances. In fact, Woods could receive up to fifty-percent cash advances upon load pick-ups. 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.""Well, I'll have to tell Harry about this,"" Leonard muttered to himself.Leonard's son-in-law, Harry, loved the idea behind Woods 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 Leonard knew the struggles Harry would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Woods was struggling then the little guys, like Harry, were going to be in even more trouble. But, maybe the answer for both of them was in freight factoring, and Leonard was going to find out very soon.Some months later, having successfully gone through the entire process of the application, having experts study his credit history and statements and review his accounts receivable, Leonard found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They used that time to refocus their efforts in being competitive in new territories. Leonard recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. If Leonard hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

Stockton is a city in Northern California and the county seat of San Joaquin County. Located on the San Joaquin River, Stockton has a population of 291,707 according to the 2010 United States Census and is the 13th-largest city in California.Stockton is situated amid the farmland of California's Central Valley. Interstate 5 and State Route 99, California's major north-south corridors, pass through the city. Stockton is connected westward with the San Francisco Bay by the San Joaquin River's 78-mile channel. With Sacramento, it is one of California's two inland sea ports. In and around Stockton are thousands of miles of waterways and rivers which make up the California Delta.The city hosts the annual Asparagus Festival. Its Haggin Museum is an art and history museum built in Victory Park in 1931. The museum displays 19th and 20th-century works of art and houses local historical exhibits. Stockton boomed as one of the largest cities in California, for a while the third-largest city, during the years of the Gold Rush and later 19th century.Stockton has recently struggled with violent crime, reaching a record high of 71 homicides in 2012 before dropping to 23 in the first nine months of 2013. The city had cut its police force by more than 20% during the 2008 subprime mortgage crisis, but a sales tax approved by voters on November 5, 2013 could fund an additional 120 police officers.Following regional losses to the economy due to the 2008 financial crisis, in July 2012, Stockton became the largest city in U.S. history to file for bankruptcy protection. It was surpassed by Detroit in July 2013. The city approved a plan to exit bankruptcy in October 2013, and voters approved a sales tax on November 5, 2013 to help fund the exit

 

 

More Trucking Factoring Companies Story Articles

"

Factoring in the Future of a Trucking Business: A Story The phone was ringing on his desk, and Roy Howard just sat there letting it ring. He let his morning coffee cool and left his cigarette to ash itself in the tray, because he is trying to make the biggest decision ever for his trucking company. Howard Trucking Company had reached a turning point and he now had to make a decision as to whether he should sign up with a factoring company, and indeed if this would be a good or regrettable decision for his business.

 

More than forty years ago Roy's father had started this business working as an owner-operator and eventually growing Howard Trucking Company into a fifteen trailer fleet. Yes, they had survived some very difficult times when it appeared like they might go under, and even Roy's mother had jumped into the cab at times to make hauls. His father had worked long enough to see the price of hires drop dramatically during the recession and to see the explosion of fuel prices afterwards. Now the company was solely in Roy�s hands and he wanted to live to see it in better shape for his sons.

 

To move Howard Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. His employees needed to be paid. They all have families and the usual household bills. 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, Howard 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. Roy 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. 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.

 

Roy believed a successful man is always thinking of his next step. What would be the next step for Howard Trucking? More importantly, how could he afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

He wondered about factoring - was this the answer for him? There was a lot he didn�t understand about the process. It sounded 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 Roy to do his homework. Roy had heard that there were companies that charged for same day money transfers and would only advance a percentage of the money owed to your company while holding the rest in a private account if they didn�t get their bill payment within 60 or so days. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

But it turned out to be quite easy. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He didn�t mind signing 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. He was more than happy with the figures he was offered in percentage terms on the freight bills. It sounded like a great scheme to him.

 

For Roy 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 didn�t worry over his credit and the debt troubles his father had had in the past of the company. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Roy because he and his father had created a very strong and loyal list of clientele over the years. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients would not have any problems, nor would they think poorly of Howard 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.

 

Roy 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. He suddenly realized that, with this new cash flow, he could actually expand Howard 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 Freight Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So, this is not a loan?� asked Ted Lawrence, reclining back into his chair and crossing his legs. The woman sitting across the desk from Ted smiled at him, shaking her head.�Not quite,� she said.Ted Lawrence 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 Dale. His company was called Vasquez Trucking, named after both of his grandfathers, Mike and Cecil. Both of these men had been very hardworking and had set a great example for Dale.Disaster had struck half a year ago, when two trucks in Dale�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. Ted depended on his full fleet, and missing two trucks was devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Ted had on hand.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

Waiting a month or longer for bills to be paid was quite normal. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Ted 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 Virginia and she worked for a factoring company. He had accidentally come across her company one night when he was working late, searching the internet to see if there was some solution to his financial dilemma.She sat there now, and explained. �It�s not a loan, we purchase your accounts receivable. we are not giving you finance to be repaid later: we are purchasing something from you, and when you can you can buy it back. That way we�re protected from a complete loss, but you�re protected from the outrageous fees you would find in a loan from the bank.Ted agreed. It sounded perfect - perhaps too good?.Virginia laughed. �You look like you don�t believe me,� she said.�Oh no, I do: it just sounds too good to be true. I thought I was going to lose my company.�Virginia smiled, agreeing. �We get that a lot. Listen, I�d hate to see you lose your company. You work hard, you�ve put everything you can into it. We all need help sometimes. That's why we do what we do.""In any case, thank you for coming to see me.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� Virginia said with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.

 

Ted filled the form out, with Virginia available to help him if he needed it. The profile filled Virginia and her company in on Dale�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 Ted filled out his form, Virginia was pretty sure he was a perfect candidate for factoring.When the form was done Virginia took it and slid it into her briefcase. She then stood, reached across the desk and shook Dale�s hand. He also stood up, and they smiled at each other. They said their goodbyes and Ted 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 felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. Talking to Virginia though, learning about factoring, it felt like a weight had been lifted from his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.All those long, sleepless nights. The terrifying panic attacks that occurred regardless of 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.Ted couldn�t help but think back to when he had first started the business. At twenty-two and straight out of school he had opened a restaurant. It had been really successful. Offering home cooking in his own hometown, his business had really prospered.But 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 half a year off, and in that time he thought to start Vasquez Trucking. So he did it. Once again he built a company from the ground up. He had been successful.And then the trucks went down, and his success looked to be in flux. He was nearing fifty. He didn�t think he had it in him, to save this company. But giving up wasn't part of his personality either.

 

The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He didn�t know how to say quit.And now it seemed as though he would not have to - all because of Factoring. Dale's eyes opened, he sat forward in his chair and turned on his computer. He had things to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

The key reasons why Trucking Firms Employ Factoring Companies.

 

As the operator of your own business, you may likely be more than knowledgeable already of the hardship in making sure that capital matters do not become a predicament down the line. After all, the most disappointing thing that can potentially come about for your establishment is to find yourself embroiled in a long and tough predicament that leaves you forever looking for the resources you require on an continual manner.

 

For any type of company in this condition, the issue can come for waiting for work to lapse and actually be repaid into your balance. Invoices, checks, and the like could take a while to actually to beprocessed which can easily leave you with momentary cash flow problems. Thank goodness, there are solutions out there for enterprises to examine-- and among these is factoring companies.

 

Factoring firms will, in substitution for your invoices, provide you with the cash right now to ensure that you do not have to worry about the lingering time span which could make paying off the expenses and obtaining materialsmore difficult. With this type of system, invoice factoring can become remarkably beneficial for several companies who have to avoid a money lure which they have discovered themselves in.

 

For the reason that, depending on the volume of the task, it can take up to 60 days for some firms to get paid then it is crucial to cover up your own back and not leave yourself resources short to pay off the bills. After all, how many businesses have two months revenue just occupying there to deal with all their overheads till they get paid?

 

This is primarily correct of trucking firms. They often tend to take care of bunches of statements which means a notable amount of collection time demands business owner themselves. Attempting to get paid out promptly can come to be an incredible difficulty and this is the reason why you make use of truck factoring organizations who are thrilled to help out truckers exclusively.

 

As we all know, trucking is an astonishingly huge industry with plenty of companies out there working with hundreds of vehicle drivers. Regretfully, plenty of these drivers land up in money dilemmas due to the fact that they are still awaiting work from six weeks in the past to actually compensate them. When this is the condition for a trucking company, turning to factoring companies for assistance maybe the ideal alternative left.

 

This implies that a trucking company can pay the paychecks of the work force, keep all the vehicles refilled with gas and continue to surmount, develop and expand without consistently waiting for the finances which is taking too prolonged to come in. Trucking Firms running without a factoring system used are leaving themselves at significant risk, as competitions cash out quickly and go on to broaden.

 

There's honestly nothing to be stressed about when it comes to using a Factoring firm-- they usually are not like a banking company or a person who is going to leave you with a significant mass of personal debt to pay back. You give them authentic invoices from work you have already completed , you are merely speeding the payment process.

 

In the United States, where truck firms flourish, factoring establishments are not considered taking on loan in any capacity. This private agreement then makes it possible for both parties to profit and take pleasure in a good future-- it provides the factoring firm a guaranteed resource of revenue to include in the list and it gives the trucking business the required finances that they worked hard to earn.

 

The trucking business presents their invoices to the factoring enterprise. The trucking factoring business then acquire the payments from the trucking company's clients. Factoring has beenaround for hundreds of years and has been employed for long times by many different sectors-- but none much more so than truckers. While you may miss out on a small part of the money, something like 1-3 % depending on who you partner with, it implies that you are acquiring the funds today and can actually begin setting the cash to perform.

 

Once and for all, an IOU or an invoice is not going to fund bills, is it? For trucking firms when the finances can be good 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 considerable amount of time and finance to get through the week up until they are compensated once more.

 

So the next moment your trucking company is bearing some temporary capital issues and you are devoting way too much time chasing slowly paying clients, why not begin thinking of using a factoring companies as a manner to get your cash and give yourself a more at ease future in the eyes of your trucking personnel and your bank balance?

 

 

 

 

 

 

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Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. 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. 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 a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

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

 

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. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

2. No Collateral Required. Another great benefit of using the services of a Trucking Factoring company instead of a bank loan is that there is no collateral required for the Trucking Factoring company, because the Trucking Factoring company is buying your accounts receivables. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

3. Receive Your Money Faster. With a Trucking Factoring company you can actually get the money you need faster. 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. 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.You receive interest up-front. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you do not have to continue to pay interest as they take it right off the top, deducting it from the total amount of accounts receivable. So not only are you relieved of those monthly loan payments, but you also do not have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. 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

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