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The Secret to Being Wealthy - Our Receivable Loan Company Can Give
Your Freight Company The Money You Want

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freight invoice factoring

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Medium-Size trucking companies, especially those who have not been around for extremely long, will typically find it difficult to protect a loan. Banks are commonly reluctant to lend money to businesses that do not have a great deal of earnings and properties. They also desire evidence of the practicality of a business and hence need that many operations, specifically small ones, be in business for a particular quantity of time before they want to hand over any cash. Since of this, a small company typically has few money producing alternatives when requires emerge. One choice available, but typically ignored, is invoice factoring. This is an outstanding means for a small business to acquire cash.

 

 

 

 

 

 

 

How to Swim with The Banks without Being Eaten Alive - Select An Invoice Factoring Company Instead Of A Traditional Bank Funding

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

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

Money flow does not have to be a problem any more. Do not be deceived -- banks are not the only locations you can get funding. Other options are available and you do not have to borrow money. Exactly what is truck factoring ? One option is called trucking factoring. Truck Factoring is the procedure of selling accounts receivable to a financier instead of waiting to collect the money from the customer. Oh, the Irony- Truck factoring has a paradoxical distinction: It is the monetary foundation of many of America's most successful companies. Why is this ironic ? Since trucking factoring is not instructed in business colleges, is rarely discussed in company strategies and is fairly unknown to the majority of most of American business people.

Yet it is a monetary process that releases up billions of dollars every year, enabling countless companies to grow and prosper. Trucking 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 solely with business-to-business deals, a large percentage of the retail company utilizes a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail deals. Using the purest definition of the word, these big customer finance companies are truly just large Receivable Loan Funding Companies of customer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The shop makes money almost immediately, even though you do not make payment until you are ready.

For this service, the charge card business charges Sears a fee (typical common normal fees range from 2 to four percent of the sale). The Advantages Receivable Loan Funding can offer numerous advantages to cash-hungry business. Instead of waiting 30, 60, 90 days or longer for payment on a product that has currently been delivered, a company can factor (sell) its receivables for money at a small price cut off the dollar value of the invoice. Payroll, marketing efforts, and working capital are just a few of the business needs that can be satisfied with instant  money.

Receivable Financing offers the means for a producer to renew stock and make more items to offer: There is no longer a need to await for earlier sales to be paid. FACTORING is not simply a money management tool for manufacturers: Practically any kind company can take advantage of Truck Factoring. Generally, a company that extends credit will have 10 to 20 percent of its yearly sales bound in invoices at any given time. Think for a minute about exactly how much is tied up in 60 days' worth of invoices: You can not pay the power bill or this week s payroll with a client s invoice, but you can offer that invoice for the cash to meet those responsibilities. Using trucking factoring companies is a fast and easy procedure. The factoring company buys the invoice at a discount, typically a couple of portion points less than the stated value of the invoice.

 

 

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The United states Truck Association
mentions that there are about
195,000 workers with transportation
companies and
276,000 private providers trucking
firms licensed to
operate in the U.S. that transported,
according to their newest searchings for billions of
products, materials and
basic products .
There are numerous common
carriers either going solo or in
teams on our nation
highways carrying these
crucial products to our
shops, manufacturingplants and harbors.

Furthermore truck factoring
businesses benefit
many of them and offer their
factoring facilities
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

 

Honolulu is the capital and largest city of Hawaii, on the southeast coast of the island of Oahu. The city is legally coextensive with the county of Honolulu, which includes the entire island of Oahu and most of the Northwest Hawaiian Islands, from Nihoa to Kure Atoll, except Midway. The population of Oahu makes up 73% of the state's total population. It is situated in the central Pacific Ocean 2,397 mi west-southwest of San Francisco. Honolulu's name derives from the native words hono, meaning �a bay,� and lulu, meaning �sheltered.�Honolulu's early history was one of turbulence and coict. One of the last areas on the globe to be explored and exploited by Europeans (it was first visited by British captain James Cook in 1778), Hawaii was subject to strong pressures from many forces, including American missionaries, who arrived in 1820, and opportunistic whalers. These whalers were among those who built Honolulu originally, bringing trade, commerce, and prosperity that led to expansion into the sugar and pineapple industries.As early as 1814, Russia tried to move in, and Russian soldiers built a bastion at the harbor's edge. The British flag was raised in 1843 and French forces occupied Honolulu in 1849. Each time control was returned to the independent native kingdom without bloodshed. In 1898, a group of Americans completed a project attempted at intervals during the previous 65 years�annexation to the United States. Honolulu was incorporated as a city in 1907.The Honolulu area was bombed by Japan in a surprise attack on the unprepared U.S. naval base at Pearl Harbor on Dec. 7, 1941. This action forced the United States to enter World War II. �Remember Pearl Harbor� became a famous American wartime slogan.Hawaiian statehood in 1959 and the viability of commercial air travel to the island brought boom times to Honolulu. Tourism is the city's principal industry, followed by federal defense expenditures and agricultural exports (chiefly pineapples).

 

 

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

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

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

 

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

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

 

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.

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

 

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.

 

"

Bryant 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 boom times from 2002 to 2007 Bryant 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. The money was flowing, and times were great.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed to a crawl

 

. Worse still, it was noticed by Bryant 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 Bryant, Philip Coleman, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The number of clients who were late in their payments was continuing to grow.He had gone to his administrators and asked them what the problem had been. Were they doing something wrong or different when it came to reaching out to delinquent accounts? When checking his bookkeeper's records this was definitely not the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Bryant hadn't gone elsewhere. They had just gone home.This current state-of-affairs was causing Philip Coleman to have some very restless nights. Philip was very concerned, because there were constant overheads, goods to ship, employees to pay, and trucks which needed to be maintained, but there just wasn't the money coming back into the business. In the evenings he would discuss his concerns with his wife, Paula, 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 say.Philip would stare off into the distance, and then slowly close his eyes. He could see the fleet of trucks he had purchased over the 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,"" Philip said. ""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.

 

""Philip knew his wife meant well, but he knew that he was responsible for too many people to sit idly by, waiting for the sun to peak over the clouds.The following day Philip walked into his office with a spring in his step, determined to call each and every client who owed money to Bryant 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. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. Wasting money, wasting time - even with the best of intentions, Philip knew that he was in trouble.

 

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 Katrinaerley knocked at his door.

 

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

 

""Of course Katrina, please come in."" Philip relaxed back into his chair and looked up at Katrinaerley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Philip."" 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 sounds vaguely familiar. What is factoring""? he asked.She began, ""Well, it is really very simple. So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Philip interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""it is actually very simple. We can have an expert account manager review our numbers and help us complete a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.""Philip replied cautiously ""I see - and what happens then?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

This company tells us what the cost will be to purchase factoring for our accounts receivable. Once we arrive at a mutual agreement, the funding begins.�Philip was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Katrina,"" he said.""Now, now, I know, I thought the same thing. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. They appear to be very flexible, Philip,"" she drew a circle around a paragraph on the document before him.""How flexible?"" he asked.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. Apparently they can figure this all out in two to four days.

 

""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" said Philip.He took a deep breath and looked at his secretary with something she recognized as hope.""Exactly�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Philip took a moment to think about this solution, and agreed with his secretary. The clients who owed them money were long standing friends and professional resources of Bryant. Just because they were experiencing difficulties paying their own bills now, Philip was very concerned about losing these relationships. Philip knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. That unknown amount of time could create a disaster situation for both of them if he wasn't careful in how these debtors were handled. He did not want to lose business but he also did not want to lose any more money.""Well, let me think about this tonight Katrina, thank you."" Katrina nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Philip stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. He wondered if there might be other problems freight factoring could help Bryant Truck & Haul 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, Bryant could receive up to fifty-percent cash advances upon load pick-ups. Philip was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""Well, I'll have to tell Dustin about this,"" Philip muttered to himself.Philip's son-in-law, Dustin, loved the idea behind Bryant 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 Philip knew the struggles Dustin would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Bryant was hurting, a little guy like Dustin was about to catch his death. But, maybe the answer for both of them was in freight factoring, and Philip 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 Philip was beginning to find his way out of the hole his debtors had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They used that time to refocus their efforts in being competitive in new territories. Philip recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

Honolulu is the capital and largest city of Hawaii, on the southeast coast of the island of Oahu. The city is legally coextensive with the county of Honolulu, which includes the entire island of Oahu and most of the Northwest Hawaiian Islands, from Nihoa to Kure Atoll, except Midway. The population of Oahu makes up 73% of the state's total population. It is situated in the central Pacific Ocean 2,397 mi west-southwest of San Francisco. Honolulu's name derives from the native words hono, meaning �a bay,� and lulu, meaning �sheltered.�Honolulu's early history was one of turbulence and coict. One of the last areas on the globe to be explored and exploited by Europeans (it was first visited by British captain James Cook in 1778), Hawaii was subject to strong pressures from many forces, including American missionaries, who arrived in 1820, and opportunistic whalers. These whalers were among those who built Honolulu originally, bringing trade, commerce, and prosperity that led to expansion into the sugar and pineapple industries.As early as 1814, Russia tried to move in, and Russian soldiers built a bastion at the harbor's edge. The British flag was raised in 1843 and French forces occupied Honolulu in 1849. Each time control was returned to the independent native kingdom without bloodshed. In 1898, a group of Americans completed a project attempted at intervals during the previous 65 years�annexation to the United States. Honolulu was incorporated as a city in 1907.The Honolulu area was bombed by Japan in a surprise attack on the unprepared U.S. naval base at Pearl Harbor on Dec. 7, 1941. This action forced the United States to enter World War II. �Remember Pearl Harbor� became a famous American wartime slogan.Hawaiian statehood in 1959 and the viability of commercial air travel to the island brought boom times to Honolulu. Tourism is the city's principal industry, followed by federal defense expenditures and agricultural exports (chiefly pineapples).

 

 

More Trucking Factoring Companies Story Articles

Factoring in the Future of a Trucking Business: A Story The phone was ringing on his desk, and Andrew Green 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. Green Trucking Company was at a turning point of growth and Andrew had to decide if signing with a factoring company was the right way forward.

 

Andrew�s father had started as an owner-operator and had grown Green 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 Andrew�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 Andrew�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. He had employees to pay. They had families and household bills too. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. He knew that turning down these requests made Green Trucking look inefficient and weak in what was currently a strong market.

 

His father would have told him to wait and to take his time adding on new technology. Andrew allowed himself a good hard chuckle. He remembered when his father was totally against installing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). 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.

 

Andrew knew he was right in his forward thinking. What would be the next step for Green Trucking? And how would he be able to afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

But was factoring the answer? If he was being honest, he did not really understand how it all worked. 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. 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 the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Now it was time for Andrew to do his homework. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

However, it all turned out to be very simple. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He was quite happy to sign an exclusive contract. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. Many companies offered a non-recourse factoring program that suited him just fine. He was more than happy with the figures he was offered in percentage terms on the freight bills. It sounded like a great scheme to him.

 

It was really refreshing dealing with the factoring people. They were extremely helpful and more personable than the bank staff. 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 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 Andrew 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 wouldn�t think poorly of Green Trucking and the factoring companies appeared capable of handling the accounts receivable in the same polite manner that his father had used over the years.

 

Feeling happier now, Andrew stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. With the capabilities of this new cash flow, Andrew could actually expand Green Trucking Company further across the country and perhaps even go international into Canada. His heart felt full knowing his sons wouldn�t have to worry about money because of the right decisions he had made for their trucking business.

 

 

 

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Trucking Factoring  Articles

"

�So It is not a loan?� asked Chester Ruiz, reclining back into his chair and crossing his legs. The woman sitting across the desk from Chester smiled at him, shaking her head.�Not quite,� she said.Chester Ruiz owned a small trucking company, and his business had recently fallen on difficult times. Trucking could be a profitable business, and for a little under a decade, it had been for Miguel. His company was called Watts Trucking, named after both of his grandfathers, Glen and Ivan. Both of these men had been very hardworking and had set a great example for Miguel.Disaster had struck half a year ago, when two trucks in Miguel�s fifteen truck fleet went down. One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. Chester 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 Chester had on hand.A big problem a lot of trucking companies came across was how bills were paid in the industry. You could go a month or more before bills were completely paid off. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Chester was an excellent business man, and he certainly hadn't done anything wrong. 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.That�s where the woman across the desk came in. Chester knew she was employed by a Factoring company and that her name was Eileen. 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.Eileen 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. 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.Chester agreed. It sounded good to him, almost too good.The woman laughed. �You look like you don�t believe me,� she said.�Oh no, I do: it just sounds too good to be true. I actually thought I might end up losing my business.�Eileen nodded. �We get that a lot. There's no way we want to see you lose your business. We know how hard you work, and that you've invested everything in your business. 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,� Eileen said with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Chester filled the form out, with Eileen available to help him if he needed it. The completed profile gave Eileen and her company all the information they needed on Miguel's business, and with this information they would determine if this business would in fact be suitable for Factoring. Unfortunately, not all companies are. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. Listening as Chester filled out his form, Eileen was pretty sure he was a perfect candidate for factoring.Eileen took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Miguel's hand. He also stood up, and they smiled at each other. Chester walked Eileen 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 had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. But now, after speaking to Eileen and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.All those long, sleepless nights. The terrifying panic attacks that occurred regardless of 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 there, he was on the right path, and he was working to make things right.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 really successful. Offering home cooking in his own hometown, his business had really prospered.But he had gotten bored. His passion didn�t lie with 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 Watts Trucking. So he did it. For the second time in his short life he created a company from the ground up. The business had been an instant success.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was nearing fifty. He didn�t think he had it in him, to save this company. But giving up wasn't part of his personality either.

 

The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He did not want to quit - both for himself and for his staff members.And now, because of factoring, he was sure he wouldn�t have to. Miguel'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 reason why Truck Establishments Make use of Factoring Firms.

 

As the operator of your own company, you may likely be much more than knowledgeable already of the difficulty in making sure that capital issues do not become a predicament down the line. After all, the toughest thing that can in all probability come about for your firm is to find yourself involved in a long and hard situation that leaves you forever looking for the resources you really need on an on-going manner.

 

For pretty much any enterprise in this predicament, the trouble can come for waiting for work to clear up and actually be compensated into your bank account. Invoices, checks, and the like can take some time to actually to beprocessed which could leave you with temporary capital troubles. Luckily, there are approaches out there for establishments to investigate-- and among these is factoring firms.

 

Factoring firms will, in trade for your bill of sales, grant you with the cash right away so you do not need to fret about the lingering time frame that could make paying the expenses and getting materialsmore complicated. With this type of arrangement, invoice factoring can end up being tremendously valuable for various businesses who have to get out of a money lure which they have gotten themselves in.

 

Due to the fact that, relying on the scale of the work, it can take up to 60 days for several companies to get paid out then it is significant to cover your own back and definitely not leave yourself resources short to pay off the monthly bills. After all, how many firms possess two months earnings just lying there to address all their expenditures until they make money?

 

This is especially true of trucking firms. They have the tendency to manage lots of accounts which means a considerable quantity of collection time concerns business owner themselves. Striving to get paid off promptly can become an extraordinary trouble and this is the key reasons why you employ truck factoring companies who are pleased to help out truckers primarily.

 

As all of us determine, trucking is an incredibly big market with countless agencies out there handling hundreds of operators. Regrettably, many of these drivers land up in money difficulties simply because they are still waiting for work from six weeks earlier to actually pay them. When this is the circumstance for a trucking business, consulting factoring firms for solutions maybe the ideal choice left.

 

This means that a truck company can pay off the wages of the work force, keep all the cars refilled with gas and continue to surmount, develop and expand without continually waiting for the cash which is taking too lengthy to come in. Trucking Businesses working without a factoring program used are leaving themselves at critical risk, as competitors cash out quickly and go on to grow.

 

There's absolutely very little to be worried about when it comes to employing a Factoring agency-- they are not like a banking company or an individual who is going to leave you with a significant stockpile of financial debt to pay back. You give them legitimate invoices from job you have already completed , you are only speeding the payment system.

 

In the United states of America, where truck agencies thrive, factoring providers are not considered getting a loan in any capacity. This private arrangement then allows both parties to benefit and experience a convenient future-- it provides the factoring agency a guaranteed resource of cash flow to put into the list and it furnishes the trucking company the needed cash that they sweated to obtain.

 

The trucking company gives their invoices to the factoring company. The trucking factoring company then collect the payment amounts from the trucking company's customers. Factoring has been all around for hundreds of years and has been adopted for decades by lots of varying markets-- but none more so than truckers. While you could lose out on a small part of the money, something like 1-3 % depending upon who you work with, it signifies that you are getting the funds today and can actually begin setting the money to perform.

 

After all, an IOU or an invoice is not going to finance overheads, is it? For trucking establishments when the hard earned cash can be excellent one day and gone the next, it is up to the drivers to work prudently and to make sure they are leaving themselves with a notable quantity of time and money to get through the week until they are compensated once more.

 

So the next occasion your trucking company is having some momentary cash flow issues and you are putting in an excessive amount of time chasing inactive paying customers, why not begin thinking about employing a factoring businesses as a manner to get your money and give yourself a more pleasant future in the eyes of your trucking workers and your bank balance?

 

 

 

 

 

 

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Traditional Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. These loans can be a life-saver, but they're not always 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. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to sell. Once you have set up Trucking Factoring account it continues as long as you wish it too and the amount of money available to you even can grow as your business grows, giving you the ready cash you need to meet your own obligations.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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

 

1. You will not Incur Debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. 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. 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 means that it is easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.

 

3. You'll receive the money faster. Using a Trucking Factoring company means that you'll get the finance quicker. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.

 

4.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 most important benefits is that once you sell your accounts receivable to the factory company, you do not have to take time away from running your business to collect the money owed from reluctant to pay customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

In addition, since the Trucking Factoring company evaluates the credit quality of your customers prior to purchasing the accounts receivable you gain valuable information into which customers are likely to pay and which ones are not so likely to pay.A Trucking Factoring company is not the only method of gaining access to finance for the running and growing of your business, however it does offer a financing option well worth considering.

 

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Factoring Companies by City

New York City

Los Angeles


Chicago


Houston


Philadelphia


Phoenix


San Antonio


San Diego


Dallas


San Jose

Austin


Jacksonville


Indianapolis


San Francisco


Columbus


Fort Worth


Charlotte


Detroit


El Paso


Memphis

 

 

Boston


Seattle


Denver


Washington DC


Nashville-Davidson


Baltimore


Louisville/Jefferson


Portland


Oklahoma City


Milwaukee


Las Vegas


Albuquerque


Tucson


Fresno


Sacramento


Long Beach


Kansas City


Mesa


Virginia Beach


Atlanta

 

Colorado Springs


Raleigh


Omaha


Miami


Oakland


Tulsa


Minneapolis


Cleveland


Wichita


Arlington

 

New Orleans

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Tampa

Honolulu

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Santa Ana

St. Louis

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Corpus Christi

Pittsburgh

Lexington Fayette

Anchorage

Stockton

Cincinnati

St. Paul

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Newark

Greensboro

Plano

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Lincoln

Buffalo

Fort Wayne

Jersey

Chula Vista

Orlando

St. Petersburg

Norfolk

Chandler

Laredo

Madison

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Winston Salem

Garland

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Irvine

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Irving

Scottsdale

North Las Vegas

Fremont

Gilbert town

San Bernardino

Boise

Birmingham

Rochester

Richmond

Spokane

Des Moines

 

 

 

 

 

Philadelphia

 

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