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New Factoring Program Leaves Your Company Rolling in Profits - Our Factoring Company Can Give
Your Trucking Company The Money You Need

workingcapitalfactoring.org

trucking invoice factoring companies

freight broker factoring

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freight broker factoring companies

Medium-Size freight businesses, particularly those who have actually not been in existence for extremely long, will typically find it difficult to protect a loan. Banks are commonly reluctant to lend money to companies that do not have a great deal of earnings and assets. They likewise want evidence of the viability of a company and thus need that most operations, specifically little ones, been around for a particular amount of time before they want to turn over any cash. Because of this, a small company typically has a couple of cash producing options when needs develop. One option available, but often overlooked, is invoice factoring. This is an exceptional method for a small company to get cash.

 

 

 

 

 

 

 

Receivables Mysteriously Disappear from the Books - Pick A Freight�Factoring Company  Instead Of A Regular Bank Financing

Exactly how to Enhance Cash Flow Without Loaning -Cash Money flow is among the main reasons companies fail.

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

Money flow does not have to be an issue any more. Do not be fooled -- banks are not the only locations you can get financing. Other options are available and you do not have to borrow money. What is trucking factoring ? One option is called trucking factoring. Truck Factoring is the procedure of offering invoices to a financier rather than waiting to gather the money from the customer. Oh, the Irony- Trucking factoring has an ironic difference: It is the financial backbone of many of America's most successful companies. Why is this paradoxical ? Since trucking factoring is not instructed in business colleges, is seldom discussed in company plans and is fairly unknown to the majority of most of American company individuals.

Yet it is a financial procedure that frees billions of dollars every year, enabling thousands of businesses to grow and prosper. Factoring has been around for thousands of years. Staffing Factoring Businesses are investors who pay money for the right to get the future payments on your invoices. An unpaid receivable or invoice has value. It is a debt your customer has agreed pay in the near future. Factoring Principals--Although factoring offers solely with business-to-business deals, a big portion of the retail business uses a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail transactions. Utilizing the purest meaning of the word, these big consumer finance business are really just large Accounts Receivable Factoring Companies of customer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The shop gets paid almost instantly, although you do not make payment up until you are ready.

For this service, the charge card company charges Sears a fee (typical common normal fees range from 2 to 4 percent of the sale). The Benefits Trucking Factoring can provide many benefits to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on a product that has already been provided, a business can factor (sell) its receivables for cash at a small price cut off the amount of the invoice. Payroll, marketing efforts, and working capital are just a few of the business needs that can be met with instant  money.

Receivable Financing provides the ways for a manufacturer to replenish stock and make even more products to sell: There is no longer a requirement to wait for earlier sales to be paid. Receivable Loan Financing is not simply a money management tool for producers: Almost any type company can benefit from Commercial Factoring. Typically, a company that extends credit will have 10 to 20 percent of its yearly sales bound in invoices at any given time. Think for a moment about 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, but you can offer that invoice for the money to satisfy those obligations. Using trucking factoring companies is a quick and simple procedure. The factoring company purchases the invoice at a discount, typically a few portion points less than the face value of the invoice.

 

 

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columbus-factoring-companies

 

The United states Trucking Association
states that there are about
195,000 work with truck
firms and
300,000 personal companies trucking
companies licensed to
operate in the United States that transferred,
according to their latest searchings for billions of
products, supplies and
basic materials .
There are a number of usual
carriers either going solo or in
groups on our nation
roads transferring these
important items to our
stores, factories and harbors.

And freight bill factoring
businesses aid
many of them and offer their
factoring facilities
nationwideincluding
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

 

"

Columbus has a generally strong and diverse economy based on education, insurance, banking, fashion, defense, aviation, food, logistics, steel, energy, medical research, health care, hospitality, retail, and technology. Overall, it was ranked as one of the top 10 best big cities in the country in 2010, according to Relocate America, a real estate research firm. ranked Columbus and its metro area as the No. 7 best place in the country to operate a business in 2008. In 2012, Magazine ranked the city as the best city for working moms. In 2007, the city was ranked No. 3 in the United States by fDi magazine for ""Cities of the Future"", and No. 4 for most business-friendly in the country. Columbus was ranked as the seventh strongest economy in the United States in 2006, and the best in Ohio, according to Corp. In 2011, the Columbus metropolitan area's GDP was $94.7 billion, up from $90 billion in 2009, up from $85.5 billion in 2006, $75.43 billion in 2005, and $69.98 billion in 2001. SERS building, downtownDuring the recession beginning in late 2007, Columbus' economy was not impacted as much as the rest of the country, due to decades of diversification work by long-time corporate residents, business leaders, and political leaders. The current administration of mayor has continued this work, although the city faced financial turmoil and had to increase taxes, due in part to alleged fiscal mismanagement. Because Columbus is the state capital, there is a large government presence in the city. Including city, county, state, and federal employers, government jobs provide the largest single source of employment within Columbus.In 2013, the city had four corporations named to the U.S. Fortune 500 list: located in suburban Dublin. Other major employers in the area include numerous schools (for example, The Ohio State University) and hospitals, hi-tech research and development including the in Columbus. Major foreign corporations operating or with divisions in the city include .

 

"

 

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

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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

 

Click below to find Trucking Companies in the United States:

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

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

 

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.

 

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

 

 

"

Parker Truck and Haul has been in 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 Parker 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. Times were great for everyone, and the cash was flowing.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed to a crawl

 

. And worse yet, Parker had noticed during the early part of 2008 that though the bulk of their clients were always on time with payments, the few late-bloomers there were, had seemingly started to spread this illness. And as spring turmed to summer and summer into the early days of fall, Carl Wallace, CEO of Parker felt a chill go down his spine whenever he would look at the weekly A/R reports. The number of clients who were late in their payments was continuing to grow.He had already been to the administrators to ask what the actual problem was. Were they doing something wrong or different when it came to reaching out to delinquent accounts? By his bookkeepers records, this wasn't the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. They could not afford to pay him their debt, but they could afford a lesser service, maybe. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Parker hadn't gone elsewhere. The had just gone!.To Carl Wallace the situation looked desperate. He had employees to pay, goods to ship, trucks to maintain and overhead that was almost unbearable when compared against the lack of funds that were coming in. At night he would speak to his wife Frances and shake his head in frustration.

 

""I have a bad feeling, Lin,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would ask.Carl 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 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,"" Carl said. ""I've relied too long on the profits I receive from invoices alone. I've let too many of our customers go too long without paying on their bills."" Frances would look at her husband lovingly, and holding his hand would say 'it is such a harsh economy these days and our clients must be having difficulty meeting their responsibilities'.""Carl knew very well that Frances 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 Carl walked into his office with a spring in his step, determined to call each and every client who owed money to Parker Truck & Haul. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. A waste of time - a waste of money - he had the best intentions, but all the while Carl was realising just how much trouble he was in.After a half day of contacting debtors in vain - they dodged his calls or promised to call back at worst or made minimal interest-only payments at best - he was about to throw in the towel when his secretary Stacyerley knocked at his door.

 

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

 

""Of course Stacy, please come in."" Carl leaned back in his chair and looked expectantly at Stacyerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Carl."" 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?"" Stacyerley asked.""It does sound vaguely familiar. What is it?"" he said.""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?"" Carl interrupted.""Immediately, yes"" she added, ""In a nutshell, it is pretty easy. We can have an expert account manager review our numbers and help us complete a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.""Carl 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.

 

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.�Carl was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Stacy,"" he said.""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, Carl,"" she underlined a paragraph on the paper before him.""How flexible?"" he asked.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. Apparently they can figure this all out in two to four days.

 

""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 Carl.Carl 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.""Carl thought about this and agreed with Stacyerley. The customers who were in debt to Parker Truck & Haul were professional resources of the company, but they were also long-standing friends. Carl wasn't prepared to lose these relationships just because they were having financial issues at the moment. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. Of course he did not want to lose any more money, but he did not want to lose business either.""Let me go over this tonight Stacy, and thankyou."" Stacy nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Carl keep the shirt on his back, and possibly hers too.Carl stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. He wondered if there might be other problems freight factoring could help Parker 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. Carl was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Carl was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""I must tell Ken the good news,"" Carl muttered to himself.Ken is Carl's son-in-law, and he really admired the ideas behind Parker, so much so that only two years before he had started his own transportation service business. Carl knew then what struggles Ken would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Parker was hurting, a little guy like Ken was about to catch his death. But, maybe the answer for both of them was in freight factoring, and Carl was going to find out very soon.Some months later, having successfully gone through the entire process of the application, having experts study his credit history and statements and review his accounts receivable, Carl 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. Carl recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. If Carl hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

"

Columbus has a generally strong and diverse economy based on education, insurance, banking, fashion, defense, aviation, food, logistics, steel, energy, medical research, health care, hospitality, retail, and technology. Overall, it was ranked as one of the top 10 best big cities in the country in 2010, according to Relocate America, a real estate research firm. ranked Columbus and its metro area as the No. 7 best place in the country to operate a business in 2008. In 2012, Magazine ranked the city as the best city for working moms. In 2007, the city was ranked No. 3 in the United States by fDi magazine for ""Cities of the Future"", and No. 4 for most business-friendly in the country. Columbus was ranked as the seventh strongest economy in the United States in 2006, and the best in Ohio, according to Corp. In 2011, the Columbus metropolitan area's GDP was $94.7 billion, up from $90 billion in 2009, up from $85.5 billion in 2006, $75.43 billion in 2005, and $69.98 billion in 2001. SERS building, downtownDuring the recession beginning in late 2007, Columbus' economy was not impacted as much as the rest of the country, due to decades of diversification work by long-time corporate residents, business leaders, and political leaders. The current administration of mayor has continued this work, although the city faced financial turmoil and had to increase taxes, due in part to alleged fiscal mismanagement. Because Columbus is the state capital, there is a large government presence in the city. Including city, county, state, and federal employers, government jobs provide the largest single source of employment within Columbus.In 2013, the city had four corporations named to the U.S. Fortune 500 list: located in suburban Dublin. Other major employers in the area include numerous schools (for example, The Ohio State University) and hospitals, hi-tech research and development including the in Columbus. Major foreign corporations operating or with divisions in the city include .

 

"

 

More Trucking Factoring Companies Story Articles

The Future of a Trucking Company, and Factoring The phone was ringing on his desk, and Ryan Edwards just sat there letting it ring. His morning coffee cooled and his cigarette smoked away in the tray: Ryan is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Edwards Trucking Company had reached a turning point and he now had to make a decision as to whether he should sign up with a factoring company, and indeed if this would be a good or regrettable decision for his business.

 

More than forty years ago Ryan's father had started this business working as an owner-operator and eventually growing Edwards Trucking Company into a fifteen trailer fleet. There had been some hard times when it seemed everything was going to go under and even Ryan�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 Ryan's hands and he needed to ensure that this business would be left in great shape for his sons.

 

To move Edwards Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. He had employees to pay. 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, Edwards Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Ryan 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?� 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.

 

Ryan believed a successful man is always thinking of his next step. How would he take Edwards Trucking to the next level? More importantly, how could he afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. 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 this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

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

 

But it turned out to be quite easy. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He didn�t mind signing an exclusive contract. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. 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. He was more than happy with the figures he was offered in percentage terms on the freight bills. It was good money.

 

For Ryan it was quite a relief to be dealing with the factoring company. They were extremely helpful and more personable than the bank staff. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar for a handout. The factoring companies didn�t worry over his credit and the debt troubles his father had had in the past of the company. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Ryan because he and his father had created a very strong and loyal list of clientele over the years. So he knew they would understand when the factoring company contacted them for the invoices. His clients wouldn�t think poorly of Edwards Trucking and the factoring companies appeared capable of handling the accounts receivable in the same polite manner that his father had used over the years.

 

Feeling happier now, Ryan 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 Edwards 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?� asked Joe Cunningham, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she stated.Joe Cunningham 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 Tyrone. He named his business Greene Trucking, named after Duane and Charlie, his two grandfathers. They had both been hardworking men, and had done a lot to make Joe the same.Disaster had struck half a year ago, when two trucks in Tyrone�s fifteen truck fleet went down. One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. Joe 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 Joe 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.Joe 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. Joe knew she was employed by a Factoring company and that her name was Doris. Joe 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�s not a loan, we purchase 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.Joe nodded. It sounded perfect - perhaps too good?.Doris 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.�Doris 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. We all need help sometimes. That�s what we�re here for.""In any case, thank you for coming to see me.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� said Doris with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Joe filled the form out, with Doris available to help him if he needed it. The profile filled Doris and her company in on Tyrone�s company, and would help them determine if he was suitable for factoring. In truth, not all companies were. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. Listening as Joe filled out his form, Doris was pretty sure he was a perfect candidate for factoring.When the form was done Doris took it and slid it into her briefcase. She then stood, reached across the desk and shook Tyrone�s hand. He also stood up, and they smiled at each other. They said their goodbyes and Joe walked her to the door, and then returned to his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He 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 Doris and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.All those long, sleepless nights. The terrifying panic attacks that occurred regardless of where he was. He could feel it all fading away. He 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.Joe couldn�t help but think back to when he had first started the 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 he had gotten bored. His passion didn�t lie with the food industry. He thought long and hard, and then he decided to sell the restaurant. He took six months off, and during that time he decided to create Greene Trucking. And that's exactly what he did. For the second time in his short life he created a company from the ground up. He had been successful.And then the trucks went down, and his success looked to be in flux. He was about to turn fifty. He didn�t think he had it in him, to save this company. But giving up wasn't part of his personality either.

 

Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He didn�t know how to say quit.And now it seemed as though he would not have to - all because of Factoring. Tyrone's eyes opened, he sat forward in his chair and turned on his computer. He had things to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

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More Trucking Factoring Company Story Articles

Why Trucking Companies Use Factoring Companies.

 

As the owner of your own company, you may perhaps be more than conscious already of the challenge in making sure that capital matters do not become a dilemma down the line. After all, the toughest thing that can potentially occur for your firm is to find yourself embroiled in a long and tough predicament that leaves you forever searching for the resources you need on an ongoing basis.

 

For any sort of business in this situation, the dilemma can come for waiting for work to lapse and actually be settled into your bank account. Bill of sales, checks, and the like can take a long time to actually to beprocessed which may leave you with short-term cash flow troubles. Fortunately, there are solutions out there for businesses to investigate-- and one of these is factoring providers.

 

Factoring providers will, in exchange for your statements, offer you with the cash immediately to ensure that you do not need to worry about the waiting time span which could make paying out the bills and acquiring materialsmore difficult. With this type of system, invoice factoring can become incredibly beneficial for a lot of firms who have to get out of a cash lure which they have found themselves in.

 

Given that, depending on the volume of the task, it can take up to 60 days for many businesses to get paid then it is significant to cover your own back and definitely not leave yourself resources short to pay off the expenses. After all, how many businesses possess two months income just lying there to pay for all their bills till they make money?

 

This is especially true of trucking firms. They generally manage great deals of invoices which means a substantial volume of collection period involves business owner themselves. Trying to get paid off in time can eventually become an unbelievable trouble and this is the key reasons why you use trucking factoring organizations who are pleased to help out truckers exclusively.

 

As we all know, trucking is an extremely big business with countless firms out there utilizing hundreds of vehicle drivers. Unfortunately, numerous of these drivers land up in finances difficulties since they are still awaiting work from six weeks ago to actually pay them. When this is the case for a truck organization, resorting to factoring agencies for assistance might be the most recommended choice left.

 

This means that a truck organization can pay off the wages of the personnel, keep all the trucks topped off with gas and continue to scale, develop and expand without consistently waiting for the resources which is taking too long to come in. Trucking Enterprises working without a factoring program used are leaving themselves at substantial danger, as competitors cash out fast and carry on to grow.

 

There's absolutely almost nothing to be distressed about when it comes to using a Factoring establishment-- they are not like a bank or somebody who is going to leave you with a considerable heap of personal debt to repay. You give them legitimate invoices from output you have already wrapped up , you are only just facilitating the repayment system.

 

In the United states of America, where trucking companies grow, factoring establishments are not considered borrowing in any capacity. This confidential deal then makes it possible for both groups to profit and delight in a comfortable future-- it provides the factoring company a secured resource of income to put into the list and it offers the trucking business the needed finances that they worked hard to earn.

 

The trucking company presents their invoices to the factoring agency. The trucking factoring business then acquire the payment amounts from the trucking company's customers. Factoring has beenaround for hundreds of years and has been utilized for decades by a lot of varying markets-- but none much more so than truckers. While you might miss out on a small part of the money, something like 1-3 % depending on who you deal with, it signifies that you are obtaining the funds today and can actually begin putting the cash to operate.

 

Anyway, an IOU or an invoice is definitely not going to cover costs, is it? For trucking establishments when the money can be very good one day and gone the next, it is up to the vehicle drivers to work smartly and to ascertain they are leaving themselves with a considerable quantity of time and money to get through the week up until they are paid for once more.

 

So the next moment your trucking business is enduring some momentary capital concerns and you are shelling out a bit too much time chasing slow paying clienteles, why not start off thinking about using a factoring companies as a way to get your money and give yourself a more pleasant future in the eyes of your trucking crew and your bank difference?

 

 

 

 

 

 

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Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. While these loans are handy they are not available to every business. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. 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.

 

What Are Trucking Factoring Companies?

 

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

 

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. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. 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. 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 makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

3. Receive Your Money Faster. With a Trucking Factoring company you can actually get the money you need faster. 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. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.Interest is Paid Up Front. 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, 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. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very efficient at debt collecting, and this frees up your valuable time to devote to running your company.

 

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

 

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Factoring Companies by City

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