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Great New Discovery Kills Cash Flow Problems Quick! - Our Trucking Factoring Company Can Give
Your Freight Company The Money Your Company Needs

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freight broker factoring

Invoice Factoring is beneficial for a number of reasons. It permits a trucking business to raise money without getting new financial obligation. While debt is occasionally essential, the majority of freight brokerage would like to raise cash without obtaining cash. Financial obligation is risky, and when it cannot be repaid, assets can be repossessed. If the debt is huge enough, it could even force a truck companies out of business.

 

 

 

 

 

 

 

Free Book Tells You 12 Secrets of Better Cash Flow - Select A Freight Bill�Factoring Company  Instead Of A Traditional Bank Financing

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

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

Cash flow does not have to be a problem any more. Do not be fooled -- banks are not the only places you can get funding. Other solutions are offered and you do not have to borrow. What is truck factoring ? One option is called truck factoring. Trucking Factoring is the process of offering invoices to an investor rather than waiting to gather the cash from the customer. Oh, the Irony- Trucking factoring has an ironic distinction: It is the financial backbone of many of America's most successful businesses. Why is this ironic ? Since receivable loan funding is not instructed in business colleges, is rarely discussed in company plans and is fairly unidentified to bulk of most of American company individuals.

Yet it is a financial process that frees billions of dollars every year, allowing thousands of businesses to grow and succeed. Trucking Factoring has actually been around for thousands of years. FACTORING Businesses are financiers who pay money for the right to receive the future payments on your invoices. An overdue receivable or invoice has value. It is a financial obligation your client has actually agreed pay in the near future. Factoring Principals--Although factoring offers solely with business-to-business deals, a large percentage of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail deals. Utilizing the purest definition of the word, these big consumer finance companies are truly just big Trucking Factoring Companies of consumer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The store makes money almost instantly, although you do not pay until you are ready.

For this service, the charge card business charges Sears a fee (typical common normal charges range from 2 to four percent of the sale). The Benefits Truck Factoring can provide many advantages to cash-hungry companies. Instead of waiting 30, 60, 90 days or longer for payment on an item that has actually already been delivered, a company can factor (sell) its receivables for cash at a small price cut off the dollar value of the invoice. Payroll, marketing efforts, and working capital are simply a few of the business needs that can be met with instant  cash.

Truck Factoring offers the ways for a manufacturer to renew stock and make more products to offer: There is no longer a need to wait for earlier sales to be paid. FACTORING is not just a cash management tool for manufacturers: Almost any kind company can benefit from Receivable Funding. Generally, a company that extends credit will have 10 to 20 percent of its annual sales bound in invoices at any given time. Think for a moment 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 customer s invoice, however you can sell that invoice for the money to meet those obligations. Using trucking factoring companies is a quick and simple process. The factor purchases the invoice at a discount, usually a few portion points less than the face value of the invoice.

 

 

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The United states Truck Association
mentions that there around
200,000 workers with transportation
companies and
276,000 personal companies trucking
companies accredited to
operate in the U.S. that transported,
according to their most current data of millions
items, supplies and
basic products .
There are a number of usual
providers either going solo or in
teams on our country
roads carrying these
crucial products to our
shops, factories and harbors.

And trucking factoring
corporations help
countless of them and offer their
factoring facilities
nationallycounting
including the following states.

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

 

Hialeah is a city in Miami-Dade County, Florida, United States. As of the 2010 census, Hialeah has a population of 224,669. Hialeah is the sixth-largest city in the state, and is a major municipality within Greater Miami.Hialeah has the highest percentage of Cuban and Cuban American residents of any city in the United States, at 74% of the population, making them a distinctive and prominent feature of the city's culture.Hialeah also has one of the largest Spanish-speaking communities in the country. In 2000, 92% of residents reported speaking Spanish at home, and the language is an important part of daily life in the city. This has attracted many companies to Hialeah, such as Telemundo, the second largest Spanish-language television network in the United States, which is headquartered in the city.Hialeah is served by the Miami Metrorail at Okeechobee, Hialeah, and Tri-Rail/Metrorail Transfer stations. The Okeechobee and Hialeah stations serve primarily as park-and-ride commuter stations to commuters and residents going into Downtown Miami, and Tri-Rail station to Miami International Airport and north to West Palm BeachThe City of Hialeah is a significant commercial center in Miami-Dade County. .Hialeah is also home to vibrant community of mom and pop stores which actively and successfully compete against national name brand retailers, outfitters, and franchises. In order to remain competitive national businesses have altered their traditional business strategy to meet the demands of the local community. Publix supermarkets opened a Publix Sabor along one of the city's main streets which caters exclusively to Latin American and Hispanic clientele. Moreover, while most of the manufacturing and cloth industry that made Hialeah an industrial city in the 1970s-1980s have disappeared, new electronics and technology businesses have reinvigorated the local economy.Westland Mall provides residents with over 100 stores and several eateries.

 

 

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

 

Life of a Truck driver, like many other professionals can be very challenging, rewarding, and frustrating at the same time. �The com� is an information site for many of the Truckers needs. It is designed to encompass the needs of the Trucker, both on the Road and at Home.

List of Trucking Companies for Owner/Operators and Company Drivers

 

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

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

 

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

 

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.

 

 

"

Gray 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 Gray Truck & Haul was the mastermind of a top-rated accounts receivable in 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.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed down. Worse still, it was noticed by Gray 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 Gray, Adam Gregory, 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 already been to the administrators to ask what the actual problem was. Were they doing something wrong or different when it came to reaching out to delinquent accounts? By his bookkeepers records, this wasn't the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Gray hadn't gone elsewhere. They had just gone home.To Adam Gregory the situation looked desperate. He had employees to pay, goods to ship, trucks to maintain and overhead that was almost unbearable when compared against the lack of funds that were coming in. In the evenings he would discuss his concerns with his wife, Judy, and still find no relief from the worry and 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.Adam would stare off into the distance, and then slowly close his eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them on the road, delivering good to all his loyal customers. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. Why couldn�t he work out how to resolve this financial problem with his business?""I think I know what it could be,"" said Adam. ""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."" All Judy could do was hold his hand and look at him tenderly. 'We know it is a difficult economy at the moment - perhaps it will take a while for people to get on top of their bills'.""Judy was trying so hard to support her husband in these worrying times, while Adam was weighed down with the worry of how he was going to handle this situation he found himself in.The next day Adam strolled into his office and was determined to sit down and make every phone call to every client who had owed Gray money. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. 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, Adam knew that he was in trouble.

 

Poor Adam spent the whole morning trying in vain to contact his debtors: they promised to call back, dodged his calls, or made small interest-only payments. He was beginning to feel quite despaired when his secretary knocked on his door.

 

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

 

""Of course Mattie, please come in."" Adam leaned back in his chair and looked expectantly at Mattieerely.""Well Adam, this afternoon I did some research, trying to work out how we are going to get out of this mess."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard of factoring?"" she asked.""It does sound vaguely familiar. What is factoring""? he asked.""Well,"" she began, ""It�s actually quite simple really.

 

So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Immediately?"" Adam interrupted.""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. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It provides a very broad view.""Adam 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. There�s a lot of flexibility depending on the business volume and credit histories. The company will advise us the cost to purchase factoring for our company's accounts receivable. Once we arrive at a mutual agreement, the funding begins.�Leaning forward, Adam studied the documents very closely.""I do not know, Mattie - it just sounds too good to be true"", Adam 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. They appear to be very flexible, Adam,"" she drew a circle around a paragraph on the document before him.""How flexible?"" asked Adam.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. It only takes 2 to 4 days for this to be figured out. ""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" said Adam.Adam took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Precisely�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Adam thought about this and agreed with Mattieerley. The clients who owed them money were long standing friends and professional resources of Gray. They did not want to throw away these relationships because they were having trouble paying their bills now. Adam 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. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. 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 Mattie, thank you."" Mattie nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Adam sat behind his desk and looked over the details Mattie had not mentioned in their meeting. What other issues could freight factoring help Gray 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, Gray could receive up to fifty-percent cash advances upon load pick-ups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""Well, I'll have to tell Robert about this,"" muttered Adam to himself.His son-in-law Robert had liked the idea of Gray so much and revered his father in law for having such business acumen that only two years before, he had gathered the venture capital to begin his own transportation service company. At that time Adam knew the struggles Robert would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Gray was struggling then the little guys, like Robert, were going to be in even more trouble.

 

But, an antidote may have been found in freight factoring and Adam was soon to find out.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Adam was beginning to find his way out of the hole his debtors had created for him.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They used that time to refocus their efforts in being competitive in new territories. Adam looked back on the dismal months of life before freight factoring and almost shuddered at the thought. If Adam hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

Hialeah is a city in Miami-Dade County, Florida, United States. As of the 2010 census, Hialeah has a population of 224,669. Hialeah is the sixth-largest city in the state, and is a major municipality within Greater Miami.Hialeah has the highest percentage of Cuban and Cuban American residents of any city in the United States, at 74% of the population, making them a distinctive and prominent feature of the city's culture.Hialeah also has one of the largest Spanish-speaking communities in the country. In 2000, 92% of residents reported speaking Spanish at home, and the language is an important part of daily life in the city. This has attracted many companies to Hialeah, such as Telemundo, the second largest Spanish-language television network in the United States, which is headquartered in the city.Hialeah is served by the Miami Metrorail at Okeechobee, Hialeah, and Tri-Rail/Metrorail Transfer stations. The Okeechobee and Hialeah stations serve primarily as park-and-ride commuter stations to commuters and residents going into Downtown Miami, and Tri-Rail station to Miami International Airport and north to West Palm BeachThe City of Hialeah is a significant commercial center in Miami-Dade County. .Hialeah is also home to vibrant community of mom and pop stores which actively and successfully compete against national name brand retailers, outfitters, and franchises. In order to remain competitive national businesses have altered their traditional business strategy to meet the demands of the local community. Publix supermarkets opened a Publix Sabor along one of the city's main streets which caters exclusively to Latin American and Hispanic clientele. Moreover, while most of the manufacturing and cloth industry that made Hialeah an industrial city in the 1970s-1980s have disappeared, new electronics and technology businesses have reinvigorated the local economy.Westland Mall provides residents with over 100 stores and several eateries.

 

 

More Trucking Factoring Companies Story Articles

"

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

 

Jose�s father had started as an owner-operator and had grown Young 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 Jose�s mother strapped herself into a cab to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. But now things were different: the company was in Jose'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. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. Every time he had to turn down a request, Young Trucking looked weak in a very strong market.

 

His father would have told him to wait and to take his time adding on new technology. Jose chuckled, thinking about his father. He remembered when his father was totally against installing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� 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). 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.

 

Jose knew he was right in his forward thinking. How would he take Young Trucking to the next level? 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. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

He wondered about factoring - was this the answer for him? There was a lot he didn�t understand about the process. It sounded 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.

 

Jose had to really consider what his next step was going to be. Jose had heard that there were companies that charged for same day money transfers and would only advance a percentage of the money owed to your company while holding the rest in a private account if they didn�t get their bill payment within 60 or so days. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! 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. 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. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. Many companies offered a non-recourse factoring program that suited him just fine. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It was good money.

 

For Jose it was quite a relief to be dealing with the factoring company. They were more personable than those loan managers at the bank. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies were not interested in his credit nor the financial problems his father had experienced in the past. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Jose 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 Young 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.

 

Feeling happier now, Jose stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. He suddenly realized that, with this new cash flow, he could actually expand Young 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.

 

"

 

 

 

 

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Trucking Factoring  Articles

"

�So, this is not a loan?� Harry Woods asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Harry smiled at him, shaking her head.�No, not exactly,� she stated.Harry was the owner of a small trucking company which had fallen on some hard times recently. Trucking could be a profitable business, and for a little under a decade, it had been for Edward. He named his business Ross Trucking, named after Benjamin and Michael, his two grandfathers. They had both been hardworking men, and had done a lot to make Harry the same.Six months ago disaster struck Edward's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. Harry 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 Harry had on hand.A big problem a lot of trucking companies came across was how bills were paid in the industry. Waiting a month or longer for bills to be paid was quite normal. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Harry 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.And that's why he found himself across the desk from this woman. Her name was Linda and she worked for a factoring company. Harry had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.She sat there now, and explained. �it is really not a loan at all: we actually buy your accounts receivable. we are not giving you finance to be repaid later: we are purchasing something from you, and when you can you can buy it back. This is a win-win situation: we are protected from a total loss, and you're protected from the ridiculous fees and charges you'd have to pay if you borrowed from a bank.Harry agreed. It sounded perfect - perhaps 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.�Linda smiled, agreeing. �We get that a lot. Listen, I�d hate to see you lose your company. We know how hard you work, and that you've invested everything in your business. 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 Linda with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.

 

Harry filled the form out, with Linda available to help him if he needed it. The completed profile gave Linda and her company all the information they needed on Edward'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 businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. Listening as Harry filled out his form, Linda was pretty sure he was a perfect candidate for factoring.When the form was done Linda took it and slid it into her briefcase. She then stood, reached across the desk and shook Edward�s hand. He stood before they shook as well, and then smiled. Harry walked Linda 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 shut his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. But now, after speaking to Linda and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.The long nights, where he couldn�t sleep. The terrifying panic attacks that occurred regardless of 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. At twenty-two and straight out of school he had opened a restaurant. It had been really successful. Home cooking in his hometown, and he had done very well.But it wasn't what he really wanted to do. He wasn't passionate about the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took half a year off, and in that time he thought to start Ross Trucking. And that's exactly what he did. Once again he built a company from the ground up. He had been successful.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was about to turn fifty. He was concerned that he just did not have the energy left to try and save the business. But he couldn�t give up. Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically 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. Edward's eyes opened, he sat forward in his chair and turned on his computer. He had things to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

The key reasons why Trucking Corporations Make use of Factoring Companies.

 

As the manager of your own business, you may likely be more than mindful already of the hardship in making certain that cash flow issues do not become a difficulty down the line. Anyway, the most terrible thing that can possibly happen for your establishment is to find yourself dragged in a long and troublesome predicament that leaves you forever trying to find the finances you really need on an on-going basis.

 

For any sort of business enterprise in this situation, the challenge can come for waiting for work to clear up and actually be settled into your statement. Invoices, checks, and the like can take a long time to actually to beprocessed which can easily leave you with short-term cash flow difficulties. Luckily, there are opportunities out there for businesses to delve into-- and one of these is factoring agencies.

 

Factoring companies will, in substitution for your invoices, give you with the funds now to ensure that you do not need to worry about the lingering time frame that could make paying out the bills and obtaining materialsmore tough. With this sort of setup, invoice factoring can end up being tremendously useful for numerous establishments who need to avoid a money trap which they have gotten themselves in.

 

For the reason that, basing on the volume of the work, it can take up to 60 days for several firms to get paid then it is critical to cover your own back and certainly not leave yourself funds short to settle the monthly bills. After all, how many enterprises have two months cash flow just occupying there to deal with all their costs till they get paid?

 

This is most notably true of truck establishments. They often deal with lots of statements which means a notable volume of collection time involves company owner themselves. Seeking to get paid in time can develop into an unbelievable struggle and this is the key reasons why you employ trucking factoring providers who are delighted to help out truckers exclusively.

 

As all of us recognize, trucking is an amazingly massive field with a lot of organizations out there employing hundreds of drivers. Regrettably, plenty of these drivers wind up in money difficulties considering that they are still expecting work from six weeks previously to actually pay them. When this is the scenario for a truck organization, turning to factoring companies for solutions might be the very best choice left.

 

This implies that a truck organization can pay off the salaries of the work force, keep all the vehicles topped off with fuel and continue to go up, evolve and expand without constantly waiting for the resources which is taking too long to come in. Trucking Businesses working without a factoring program applied are leaving themselves at significant threat, as contenders cash out rapidly and continue to broaden.

 

There's genuinely nothing at all to be distressed about when it comes to using a Factoring firm-- they are not like a bank or an individual who is going to leave you with a considerable pile of personal debt to pay back. You give them genuine invoices from work you have already finalized , you are just speeding up the payment process.

 

In the United States, where trucking firms survive, factoring firms are not considered getting a loan in any capacity. This private settlement then allows both groups to profit and enjoy a worry-free future-- it provides the factoring provider a guaranteed asset of earnings to add to the list and it provides the trucking firm the required money that they sweated to get.

 

The trucking establishment bestows their statements to the factoring agency. The trucking factoring provider then acquire the payments from the trucking company's clients. Factoring has beenaround for centuries and has been utilized for several years by several varied business-- but none more so than truckers. While you may well lose out on a small part of the money, something like 1-3 % depending upon who you team up with, it implies that you are getting the resources today and can actually start off setting the resources to do work.

 

Anyway, an IOU or an invoice is not going to finance spendings, is it? For trucking companies when the resources can be excellent one day and gone the next, it is up to the vehicle drivers to work sensibly and to make certain they are leaving themselves with a substantial quantity of time and money to get through the week up until they are compensated again.

 

So the next instance your trucking company is enduring some temporary capital challenges and you are spending a bit too much time chasing inactive paying clienteles, why not begin thinking of using a factoring businesses as a manner to get your money and give yourself a more at ease future in the eyes of your trucking crew and your bank difference?

 

 

 

 

 

 

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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. 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 a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

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. There is no debt. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. There's no collateral required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This means that it is easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.

 

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

 

4.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 you do not have to worry about monthly loan repayments, and you do not have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

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. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a 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 efficient at debt collecting, and this frees up your valuable time to devote to running your company.

 

Another bonus is that, because the Trucking Factoring company has evaluated the quality of your customers' credit before buying the accounts receivable, you learn valuable information regarding your customers, like which ones are likely to pay, and which ones are less likely to pay.While a Trucking Factoring company is not the only way for your business to obtain the money it needs to keep growing, it does offer a type of financing well worth considering.

 

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