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How Much is Your Cash Flow "Tension" Costing Your Company - Our Accounts Receivable Factoring Company Can Provide
Your Freight Company The Cash You Need

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freight factoring definition

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Small freight brokerage businesses, specifically those who have not been in existence for very long, will typically discover it difficult to secure a loan. Banks are commonly hesitant to provide money to companies that do not have a lot of earnings and possessions. They likewise want evidence of the practicality of a business and hence need that most operations, especially small ones, be in company for a specific amount of time before they are eager to hand over any money. Because of this, a medium-size business commonly has a couple of cash producing options when needs arise. One option readily available, however frequently ignored, is invoice factoring. This is an exceptional means for a small company to get money.

 

 

 

 

 

 

 

Here Is a Quick way to Shore Up Your Cash Flow - Pick A Receivable Loan C0mpany Instead Of A Regular Bank Financing

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

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

Cash flow does not have to be an issue any ever more. Do not be fooled -- banks are not the only locations you can get financing. Other solutions are offered and you do not have to borrow money. Exactly what is trucking factoring ? One solution is called truck factoring. Trucking Factoring is the process of offering invoices to an investor rather than waiting to collect the money from the client. Oh, the Irony- Trucking factoring has a paradoxical distinction: It is the monetary foundation of many of America's most effective companies. Why is this paradoxical ? Since commercial factoring is not instructed in business colleges, is rarely mentioned in company strategies and is relatively unidentified 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 succeed. FACTORING has been around for countless years. Truck Factoring Companies are financiers who pay cash for the right to get the future payments on your invoices. An overdue receivable or invoice has value. It is a debt your client has to pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business deals, a large percentage of the retail business uses a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail transactions. Utilizing the purest definition of the word, these big customer finance companies are truly simply large Truck Factoring Companies of consumer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The store makes money almost immediately, even though you do not pay up until you are ready.

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

Staffing Factoring offers the means for a producer to renew inventory and make even more products to sell: There is no longer a need to wait for earlier sales to be paid. FACTORING is not simply a money management tool for manufacturers: Practically any type business can take advantage of Receivable Loan Funding. Generally, a business that extends credit will have 10 to 20 percent of its yearly sales bound in invoices at any given time. Think for a minute about exactly how much is tied up in 60 days' worth of invoices: You can not pay the power expense or today s payroll with a client s invoice, however you can offer that invoice for the money to meet those obligations. Using trucking factoring companies is a quick and easy process. The factor purchases the invoice at a price cut, typically a couple of percentage points less than the face value of the invoice.

 

 

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The United states Truck Association
specifies that there around
200,000 truck drivers with freight trucking
companies and
276,000 personal companies trucking
firms accredited to
operate in America that transferred,
according to their most current data of millions
items, materials and
basic products .
There are numerous common
carriers either going solo or in
teams on our country
roadways transporting these
vital products to our
shops, manufacturingplants and shipping ports.

Moreover freight factoring
corporations help
numerous of them and offer their
receivables financing facilities
nationwidecounting
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

 

"

Rochester is a city in Monroe County, New York, south of Lake Ontario in the United States. Known as the World's Image Center, it was also once known as the Flour City, and more recently as The Flower City, annually hosting the Lilac Festival. It is the county seat for Monroe County.Rochester's city population according to the 2010 census is approximately 210,565, making it New York's third most populous city after New York City and Buffalo. It is at the center of a larger metropolitan area which encompasses and extends beyond Monroe County and includes Genesee County, Livingston County, Ontario County, Orleans County and Wayne County. This area, which is part of the Western New York region, had a population of 1,079,671 people at the time of the 2010 Census. As of July 1, 2012 Estimates indicated that this population rose to 1,082,284. Rochester was one of America's first ""boomtowns"" and rose to prominence initially as the site of many flour mills located on the Genesee River, then as a major manufacturing hub. Rochester is now an international center of higher education, as well as medical and technological development. The region is known for many acclaimed universities, and several of them (notably the University of Rochester and Rochester Institute of Technology) are nationally renowned for their research programs. In addition, Rochester has been and continues to be the site of many important inventions and innovations in consumer products. The Rochester area is currently home to corporations such that conduct extensive research and manufacturing in the fields of industrial and consumer products. The Rochester metropolitan area is the second largest regional economy in New York State according to the U.S. Internal Revenue Service, after the New York City metropolitan area.Rochester was ranked as the ""most livable city"" among 379 U.S. metropolitan areas in the 25th edition (2007) of the Places Rated Almanac. The Rochester area also received the top ranking for overall quality of life among U.S. metros with populations of more than 1 million in a 2007 study by Expansion Management magazine. In the same study, Expansion Management rated the area's public schools as sixth best nationwide. In 2010 rated Rochester as the third best place to raise a family. In 2012 Kiplinger rated Rochester as the fifth best city for families, citing low cost of living, top public schools, and a low jobless rate.Rochester has the least expensive real estate prices of any city in New York; the median house price is $83,186 there, considerably lower than the state's median housing price of $306,000Rochester is home to a number of declining Fortune 1000 and international businesses,. Because of the high prevalence of imaging and optical science among the industry and the universities, Rochester is known as the world capital of imaging. The Institute of Optics of the University of Rochester and the Rochester Institute of Technology in nearby Henrietta both have imaging programs. In 2006, the University of Rochester became the largest employer in the Rochester area, surpassing Kodak.Food and beverage[edit] This section needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. (March 2012) Variation on Rochester Garbage Plate from with salt potatoes instead of homefries, with added bacon. One food product that Rochester calls its own is the, a variant of the hot dog or smoked bratwurst made by the local company and other companies. Another local specialty is the that traditionally includes home fries, mac salad, meat sauce, onions, mustard and choice of hot dog or hamburger. Many area restaurants feature copies or variations with the word ""plate"" commonly used as a general term. Rochester was home to Some of the original facility still exists and produces products for other labels as Private Label Foods.Other local franchises include: Syracuse, also operates its second franchise downtown in the former Lehigh Valley Railroad station on the Genesee River.

 

"

 

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

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

 

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

 

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

 

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.

 

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

 

 

"

Since the mid 1980s Martinez Truck & Haul have been successfully running their freight business. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the heady times from 2002 to 2007, Martinez was a top rated accounts receivable mastermind of the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. Cash was flowing and times were good for all.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed down. Worse still, it was noticed by Martinez 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, Edward Byrd, CEO of Martinez felt a chill go down his spine whenever he would look at the weekly A/R reports. There was a growing list of clients who now owed them back debt.He had already been to the administrators to ask what the actual problem was. Were they doing things different, or wrong, when it came to collecting overdue 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 Martinez hadn't gone elsewhere. They had just gone home.This current state-of-affairs was causing Edward Byrd to have some very restless nights. There were goods to ship, employees to pay, trucks to repair and maintain, and continuous overheads that were very extensive when compared to the funds (or lack of) that were incoming. At night he would speak to his wife Ruth and shake his head in frustration.

 

""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would ask.Edward 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 Edward. ""For way too long I've been relying solely on profits received from invoices. For too long I've been allowing our clients to let their accounts become overdue."" Linda could only grab her husband's hand and look at him lovingly, ""it is a hard economy. It might be awhile until things get settled up.

 

""Edward knew very well that Ruth was only trying to help, but his responsibilities weighed heavily on his shoulders and he knew he had better do something soon to resolve this situation.The following day Edward walked into his office with a spring in his step, determined to call each and every client who owed money to Martinez Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Edward knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. Wasting money, wasting time - even with the best of intentions, Edward 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 Bonnieerley knocked at his door.

 

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

 

""Of course Bonnie, please come in."" Edward leaned back in his chair and looked expectantly at Bonnieerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Edward."" 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?"" Bonnieerley 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.""Edward interrupted ""Immediately?"".""Immediately, yes"" she added, ""In a nutshell, it is pretty easy. We start by having a professional account manager review our figures and help us set up a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It provides a very broad view.""Edward 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.�Edward leaned forward and reviewed the paperwork closely.""I do not know, Bonnie - it just sounds too good to be true"", Edward said quietly.""Yes, I know; that's exactly what I thought at the beginning. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. And they're flexible Edward,"" she underlined a paragraph on the paper before him.""Just how flexible?"" he asked.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. 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. 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 Edward.He took a deep breath and looked at his secretary with something she recognized as hope.""Exactly�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Edward took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Martinez Truck & Haul were professional resources of the company, but they were also long-standing friends. They did not want to throw away these relationships because they were having trouble paying their bills now. Edward knew only too well that the whole economy was floundering, and that it was not going to change overnight. That unknown amount of time could create a disaster situation for both of them if he wasn't careful in how these debtors were handled. Of course he did not want to lose any more money, but he did not want to lose business either.""Let me go over this tonight Bonnie, and thankyou."" Bonnie nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Edward sat behind his desk and looked over the details Bonnie had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Martinez 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. Edward was surprised: it said that his company could get up to fifty percent cash advances on load pickups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""Well, I'll have to tell Jon about this,"" Edward muttered to himself.Jon is Edward's son-in-law, and he really admired the ideas behind Martinez, so much so that only two years before he had started his own transportation service business. At that time Edward knew the struggles Jon would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Martinez was struggling then the little guys, like Jon, were going to be in even more trouble.

 

Perhaps the antidote to these problems was in freight factoring, and they were about to find out.Some months later, having successfully gone through the entire process of the application, having experts study his credit history and statements and review his accounts receivable, Edward found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They used that time to refocus their efforts in being competitive in new territories. Edward recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. If Edward hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

"

Rochester is a city in Monroe County, New York, south of Lake Ontario in the United States. Known as the World's Image Center, it was also once known as the Flour City, and more recently as The Flower City, annually hosting the Lilac Festival. It is the county seat for Monroe County.Rochester's city population according to the 2010 census is approximately 210,565, making it New York's third most populous city after New York City and Buffalo. It is at the center of a larger metropolitan area which encompasses and extends beyond Monroe County and includes Genesee County, Livingston County, Ontario County, Orleans County and Wayne County. This area, which is part of the Western New York region, had a population of 1,079,671 people at the time of the 2010 Census. As of July 1, 2012 Estimates indicated that this population rose to 1,082,284. Rochester was one of America's first ""boomtowns"" and rose to prominence initially as the site of many flour mills located on the Genesee River, then as a major manufacturing hub. Rochester is now an international center of higher education, as well as medical and technological development. The region is known for many acclaimed universities, and several of them (notably the University of Rochester and Rochester Institute of Technology) are nationally renowned for their research programs. In addition, Rochester has been and continues to be the site of many important inventions and innovations in consumer products. The Rochester area is currently home to corporations such that conduct extensive research and manufacturing in the fields of industrial and consumer products. The Rochester metropolitan area is the second largest regional economy in New York State according to the U.S. Internal Revenue Service, after the New York City metropolitan area.Rochester was ranked as the ""most livable city"" among 379 U.S. metropolitan areas in the 25th edition (2007) of the Places Rated Almanac. The Rochester area also received the top ranking for overall quality of life among U.S. metros with populations of more than 1 million in a 2007 study by Expansion Management magazine. In the same study, Expansion Management rated the area's public schools as sixth best nationwide. In 2010 rated Rochester as the third best place to raise a family. In 2012 Kiplinger rated Rochester as the fifth best city for families, citing low cost of living, top public schools, and a low jobless rate.Rochester has the least expensive real estate prices of any city in New York; the median house price is $83,186 there, considerably lower than the state's median housing price of $306,000Rochester is home to a number of declining Fortune 1000 and international businesses,. Because of the high prevalence of imaging and optical science among the industry and the universities, Rochester is known as the world capital of imaging. The Institute of Optics of the University of Rochester and the Rochester Institute of Technology in nearby Henrietta both have imaging programs. In 2006, the University of Rochester became the largest employer in the Rochester area, surpassing Kodak.Food and beverage[edit] This section needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. (March 2012) Variation on Rochester Garbage Plate from with salt potatoes instead of homefries, with added bacon. One food product that Rochester calls its own is the, a variant of the hot dog or smoked bratwurst made by the local company and other companies. Another local specialty is the that traditionally includes home fries, mac salad, meat sauce, onions, mustard and choice of hot dog or hamburger. Many area restaurants feature copies or variations with the word ""plate"" commonly used as a general term. Rochester was home to Some of the original facility still exists and produces products for other labels as Private Label Foods.Other local franchises include: Syracuse, also operates its second franchise downtown in the former Lehigh Valley Railroad station on the Genesee River.

 

"

 

More Trucking Factoring Companies Story Articles

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

 

More than forty years ago Jonathan's father had started this business working as an owner-operator and eventually growing Reed 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 Jonathan's mother had jumped into the cab at times to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. But now things were different: the company was in Jonathan's hands and he needed to ensure that this business would be left in great shape for his sons.

 

There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. His employees needed to be paid. They all have families and the usual household bills. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. Every time he had to turn down a request, Reed Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Jonathan chuckled, thinking about his father. His father had been against placing 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?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. He knew his father's days were long gone and new technology was very important for the business, like having Qualcomm to reduce communication time for bills of lading.

 

Jonathan knew he was right in his forward thinking. What would be the next step for Reed 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.

 

But was factoring the answer? There was a lot he didn�t understand about the process. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. 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.

 

Jonathan had to really consider what his next step was going to be. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! 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 was quite happy to sign an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It was good money.

 

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 were not interested in his credit nor the financial problems his father had experienced in the past. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Jonathan 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 Reed 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.

 

Jonathan 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 Reed 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.

 

 

 

Watch Our Freight Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

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�So, this is not a loan?� Marshall Clark asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Marshall smiled at him, shaking her head.�Not quite,� she said.Marshall Clark 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 Kirk. His company was called Welch Trucking, named after both of his grandfathers, Leo and Ralph. They had both been hardworking men, and had done a lot to make Marshall the same.Disaster had struck half a year ago, when two trucks in Kirk�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. Marshall depended on his full fleet, and missing two trucks was devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.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.Marshall was an excellent business man, and he certainly hadn't done anything wrong. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.And that's why he found himself across the desk from this woman. Her name was Samantha and she worked for a factoring company. Marshall had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.She sat there now, and explained. �it is really not a loan at all: we actually buy your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. 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.Marshall agreed. It sounded perfect - perhaps too good?.Samantha laughed. �I'm not sure that you 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.�Samantha smiled, agreeing. �Yes, we get a lot of that. Listen, I�d hate to see you lose your company. You work hard, you�ve put everything you can into it. Sometimes you need help. That�s what we�re here for.""Well, I'm very grateful that you came to see me today.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Samantha with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Marshall completed the form, with Samantha offering advice as needed.

 

The completed profile gave Samantha and her company all the information they needed on Kirk'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. As Marshall completed his form, Samantha listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Samantha took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Kirk�s hand. He also stood up, and they smiled at each other. Marshall walked Samantha to the door where they said 'Goodbye', then he went back into his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He leaned back and closed his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. But now, after speaking to Samantha and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.All those long, sleepless nights. The sudden panic attacks, not matter where he was. Already he could feel all the stress start to drain away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.His mind wandered back to the very beginning, when he first started his business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been successful. Offering home cooking in his own hometown, his business had really prospered.But it wasn't what he really wanted to do. His passion didn�t lie with the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took six months off, and during that time he decided to create Welch Trucking. And that's exactly what he did. For the second time in his short life he created a company from the ground up. He had been successful.And then the trucks went down, and his success looked to be in flux. He was nearing fifty. He was concerned that he just did not have the energy left to try and save the business. But he couldn�t give up. The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He did not want to quit - both for himself and for his staff members.And now it seemed as though he would not have to - all because of Factoring. Marshall opened his eyes, sat forward, turned his computer on. 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

Precisely why Trucking Establishments Make use of Factoring Firms.

 

As the owner of your own business, you may be much more than perceptive already of the difficulty in making sure that cash flow matters do not become a dilemma down the line. After all, the worst thing that can in all probability occur for your establishment is to find yourself dragged in a long and challenging predicament that leaves you forever trying to find the resources you need to have on an continuous manner.

 

For any sort of business in this situation, the trouble can come for waiting for work to lapse and actually be repaid into your statement. Bill of sales, checks, and the like could take some time to actually to be taken care of which could leave you with momentary capital issues. Thank goodness, there are opportunities out there for businesses to check out-- and among these is factoring companies.

 

Factoring providers will, in substitution for your statements, supply you with the cash money today to ensure you do not have to stress over the waiting time frame that could make paying out the bills and obtaining toolsmore troublesome. With this type of arrangement, invoice factoring can end up being incredibly beneficial for numerous companies who need to get out of a cash pitfall which they have found themselves in.

 

Due to the fact that, basing on the scale of the work, it can take up to 60 days for a number of businesses to get paid out then it is critical to cover up your own back and definitely not leave yourself money short to pay off the costs. After all, how many business enterprises have two months profits just lying there to deal with all their costs until they earn?

 

This is most notably true of trucking agencies. They generally take care of great deals of invoices which means a substantial quantity of collection period entails business owner themselves. Attempting to get paid out promptly can end up being an amazing trouble and this is precisely why you make use of trucking factoring firms who are happy to help out truckers exclusively.

 

As we all know, trucking is an amazingly large industry with many firms out there utilizing hundreds of drivers. Unfortunately, quite a few of these drivers land up in income troubles since they are still awaiting work from six weeks previously to actually compensate them. When this is the case for a truck company, resorting to factoring firms for solutions maybe the most recommended alternative left.

 

This signifies that a trucking firm can pay the paychecks of the personnel, keep all the cars topped off with fuel and continue to escalate, evolve and expand without continually waiting for the money which is taking too lengthy to come in. Trucking Businesses working without a factoring system put in place are leaving themselves at notable hazard, as competitions cash out quickly and proceed to expand.

 

There's absolutely nothing at all to be worried about when it comes to utilizing a Factoring establishment-- they are not like a bank or any individual who is going to leave you with a considerable pile of financial debt to repay. You give them genuine invoices from output you have already completed , you are only speeding the payment system.

 

In the Usa, where trucking establishments survive, factoring establishments are not considered accepting loan of in any capacity. This private arrangement then makes it possible for both parties to make money and take joy in a convenient future-- it gives the factoring company a secured asset of income to put into the list and it furnishes the trucking company the required money that they worked hard to obtain.

 

The trucking firm gives their invoices to the factoring company. The trucking factoring business then take the payments from the trucking company's clients. Factoring has been all around for centuries and has been utilized for long times by numerous diverse business-- but none more so than truckers. While you might possibly lose out on a small part of the money, something like 1-3 % depending upon who you deal with, it signifies that you are acquiring the resources today and can actually begin putting the resources to perform.

 

After all, an IOU or an invoice is absolutely not going to finance expenditures, is it? For trucking companies when the resources can be really good one day and gone the next, it is up to the drivers to work smartly and to guarantee they are leaving themselves with a significant volume of time and finance to get through the week until they are paid for once more.

 

So the next period your trucking business is having some momentary capital challenges and you are investing a bit too much time chasing inactive paying clients, why not begin looking into employing a factoring companies as a manner to get your cash and give yourself a more comfortable future in the eyes of your trucking team and your bank dividend?

 

 

 

 

 

 

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Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. These loans can be a life-saver, but they're not always 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. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

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 money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once you have set up Trucking Factoring account it continues as long as you wish it too and the amount of money available to you even can grow as your business grows, giving you the ready cash you need to meet your own obligations.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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

 

1. You will not Incur Debt. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. 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. There's no collateral required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. 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. You'll receive the money faster. With a Trucking Factoring company you can actually get the money you need faster. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.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, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very efficient at debt collecting, and this frees up your valuable time to devote to running your 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.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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