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The Company Who Won the Prize For - Our Factoring Company Can Give
Your Truck Company The Cash You Want

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Factoring invoices is beneficial for numerous reasons. It permits a trucking company to raise cash without acquiring brand-new debt. While financial obligation is sometimes required, the majority of trucking companies would like to raise money without obtaining cash. Financial obligation is dangerous, and when it can not be paid back, possessions can be repossessed. If the debt is large enough, it might even require a trucking firms out of business.

 

 

 

 

 

 

 

Get Rid of Those Receivables! - Pick A Freight�Invoice Factoring Company  Instead Of A Typical Bank Financing

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

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

Money flow does not have to be a problem any more. Do not be fooled -- banks are not the only places you can get financing. Other solutions are available and you do not have to borrow money. Exactly what is truck factoring ? One option is called truck factoring. Truck Factoring is the procedure of selling accounts receivable to a financier instead of waiting to gather the money from the client. Oh, the Irony- Trucking factoring has an ironic distinction: It is the monetary foundation of many of America's most effective businesses. Why is this ironic ? Since staffing factoring is not instructed in business colleges, is seldom mentioned in business strategies and is relatively unidentified to the majority of most of American company people.

Yet it is a monetary procedure that releases up billions of dollars every year, enabling countless companies to grow and prosper. FACTORING has actually been around for thousands of years. Receivable Loan Funding Companies are investors who pay cash for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a debt your customer has to pay in the near future. Factoring Principals--Although factoring offers solely with business-to-business deals, a big percentage of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail transactions. Using the purest definition of the word, these big customer finance business are really just large Receivable Loan Funding Businesses of consumer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The store makes money almost immediately, although you do not make payment up until you are prepared.

For this service, the credit card company charges Sears a charge (typical common normal charges range from two to 4 percent of the sale). The Advantages Factoring can provide numerous advantages to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on an item that has actually currently been delivered, a company can factor (sell) its receivables for money at a small discount off the amount of the invoice. Payroll, advertising efforts, and working capital are just a few of the business needs that can be met with instant  cash.

Truck Factoring offers the ways for a producer to renew stock and make even more items to offer: There is no longer a requirement to wait for earlier sales to be paid. Receivable Loan Financing is not just a money management device for manufacturers: Practically any kind company can benefit from Invoice Factoring. 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 minute about exactly how much is tied up in 60 days' worth of invoices: You can not pay the power bill or today s payroll with a client s invoice, however you can offer that invoice for the money to satisfy those obligations. Using trucking factoring companies is a fast and easy process. The factoring company purchases the invoice at a price cut, usually a few portion points less than the stated value of the invoice.

 

 

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The U.s. Trucking Association
states that there are about
195,000 work with transportation
companies and
276,000 personal providers trucking
companies certified to
operate in America that transported,
according to their newest searchings for billions of
items, materials and
standard products .
There are a number of usual
providers either going solo or in
groups on our country
highways carrying these
vital items to our
stores, factories and ports.

And freight factoring
corporations service
numerous of them and offer their
receivables financing services
countrywideincluding
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

 

Los Angeles is a shipping, industrial, communication, financial, fashion, and distribution center for the W United States and much of the Pacific Rim. It is also the motion picture, television, radio, and recording capital of the United States, if not the world, housing numerous studios. Once an agricultural distribution center, Los Angeles is a leading producer of clothing and textiles, aircraft, computers and software, paper, toys, glass, furniture, wire, biomedical products, electrical and electronic machinery, pharmaceuticals, petrochemicals, and fabricated metal. Tourism, printing and publishing, food processing, and oil refining are also important.Los Angeles has one of the busiest ports in the United States, with roughly half of its commerce coming from other nations, and its international airport is one of the world's busiest. The metropolitan area's vast freeway system has made Los Angeles the archetypal auto-dependent urban area. The huge number of motor vehicles, combined with the city's valley location, often creates dangerously high smog levels. A light-rail system (opened in 1990) and buses alleviate freeway congestion only a little; a new subway (completed 2000) also provides insignificant relief.Maintaining an adequate water supply has long been a problem for Los Angeles. The city obtains most of its water from California's Central Valley to the north. In 1992 the city ended protracted litigation with environmentalists when it agreed to curtail water diversion in certain areas until ecological recovery had been achieved.

 

 

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

 

Searching for the right trucking companies to move your freight can be tough, with the large amount of local, regional, and national truck carriers out there. Center helps make freight shipping simple, finding you the safest, reliable trucking companies every time you ship. Trucking companies are licensed and insured to carry freight safely and efficiently across the country, no matter the size or type of freight you need to ship.Plus, with the high volume of freight we move, we will work to get you the best freight rates possible. Simply enter in a few details below and you�ll see instant freight rates from all the top trucking companies in one easy screen

 

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

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

 

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.

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.

 

 

"

Foster Truck & Haul have been operating their business since the mid 1980s. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the heady times from 2002 to 2007, Foster was a top rated accounts receivable mastermind of the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. Cash was flowing and times were good for all.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed down. Worse still, it was noticed by Foster 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 Foster, Clarence Graham, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The numbers of clients who owed him back debt were growing.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. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. The had just gone!.To Clarence Graham 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. After work he would confide in his wife, Phyllis, and neither were unable to stop the constant worry over the lack of funds.""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would say.Clarence 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. What could cause this ultimate death spiral of business?""I think I know what it could be,"" Clarence 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."" All Phyllis 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'.""Clarence knew very well that Phyllis 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 next day Clarence strolled into his office and was determined to sit down and make every phone call to every client who had owed Foster 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. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. Wasting money, wasting time - even with the best of intentions, Clarence knew that he was in trouble.

 

Poor Clarence 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.

 

""Clarence, can I have a word?"" she queried, standing in the doorway.

 

""Sure thing Virginia, come on in."" Clarence leaned back in his chair and looked expectantly at Virginiaerely.""Well Clarence, this afternoon I did some research, trying to work out how we are going to get out of this mess."" 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?"" Virginiaerley 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.""Clarence interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""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.""Clarence 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. We come to an agreement and the funding starts pouring out.�Clarence was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""I do not know, Virginia - it just sounds too good to be true"", Clarence 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, Clarence,"" she drew a circle around a paragraph on the document before him.""How flexible?"" asked Clarence.""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. ""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" Clarence said.Clarence took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Clarence took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Foster Truck & Haul were professional resources of the company, but they were also long-standing friends. They did not want to throw away these relationships because they were having trouble paying their bills now. Clarence knew only too well that the whole economy was floundering, and that it was not going to change overnight. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. He did not want to lose business but he also did not want to lose any more money.""Let me go over this tonight Virginia, and thankyou."" Virginia stood up and left Clarence's office, with the nice feeling of knowing that she may just have solved a very serious problem.Clarence 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 Foster Truck & Haul with? Running his pencil down the sheet, he noted that the freight factoring company could assist with fuel costs, fuel advances, and fuel discount cards. Clarence was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Clarence 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 Joseph the good news,"" Clarence muttered to himself.Joseph is Clarence's son-in-law, and he really admired the ideas behind Foster, so much so that only two years before he had started his own transportation service business. At that time Clarence knew the struggles Joseph would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Foster was struggling then the little guys, like Joseph, were going to be in even more trouble.

 

But, maybe the answer for both of them was in freight factoring, and Clarence was going to find out very soon.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Clarence was beginning to find his way out of the hole his debtors had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They used that time to refocus their efforts in being competitive in new territories. Clarence looked back on the dismal months of life before freight factoring and almost shuddered at the thought. If Clarence hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

Los Angeles is a shipping, industrial, communication, financial, fashion, and distribution center for the W United States and much of the Pacific Rim. It is also the motion picture, television, radio, and recording capital of the United States, if not the world, housing numerous studios. Once an agricultural distribution center, Los Angeles is a leading producer of clothing and textiles, aircraft, computers and software, paper, toys, glass, furniture, wire, biomedical products, electrical and electronic machinery, pharmaceuticals, petrochemicals, and fabricated metal. Tourism, printing and publishing, food processing, and oil refining are also important.Los Angeles has one of the busiest ports in the United States, with roughly half of its commerce coming from other nations, and its international airport is one of the world's busiest. The metropolitan area's vast freeway system has made Los Angeles the archetypal auto-dependent urban area. The huge number of motor vehicles, combined with the city's valley location, often creates dangerously high smog levels. A light-rail system (opened in 1990) and buses alleviate freeway congestion only a little; a new subway (completed 2000) also provides insignificant relief.Maintaining an adequate water supply has long been a problem for Los Angeles. The city obtains most of its water from California's Central Valley to the north. In 1992 the city ended protracted litigation with environmentalists when it agreed to curtail water diversion in certain areas until ecological recovery had been achieved.

 

 

More Trucking Factoring Companies Story Articles

"

Factoring in the Future of a Trucking Business: A Story The phone was ringing on his desk, and Mario Gordon just sat there letting it ring. His morning coffee cooled and his cigarette smoked away in the tray: Mario is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Gordon 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 Mario's father had started this business working as an owner-operator and eventually growing Gordon Trucking Company into a fifteen trailer fleet. Yes, they had survived some very difficult times when it appeared like they might go under, and even Mario's mother had jumped into the cab at times to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. Now the company was solely in Mario�s hands and he wanted to live to see it in better shape for his sons.

 

There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. He had employees to pay. They had families and household bills too. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. Every time he had to turn down a request, Gordon 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. Mario allowed himself a good hard chuckle. 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). His father days were long gone and technology was actually an important improvement for the business such as having Qualcomm to cut down on fruitless time communicating on the phone for bills of lading.

 

Mario believed a successful man is always thinking of his next step. What would be the next step for Gordon Trucking? And how would he be able to afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

But was factoring the answer? If he was being honest, he did not really understand how it all worked. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. 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.

 

Mario had to really consider what his next step was going to be. Mario 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 friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

But it turned out to be quite easy. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. 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. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It sounded like a great scheme to him.

 

For Mario 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 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 Mario 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 Gordon 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, Mario 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 Gordon 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 Kurt Lewis, reclining back into his chair and crossing his legs. The woman sitting across the desk from Kurt smiled at him, shaking her head.�Not quite,� she said.Kurt Lewis 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 Everett. His company was called Bishop Trucking, named after both of his grandfathers, Gabriel and Edgar. Both of these men had been very hardworking and had set a great example for Everett.Six months ago disaster struck Everett'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. The financial security of Everett's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Kurt 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. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Kurt 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.That�s where the woman across the desk came in. Her name was Joyce and she worked for a factoring company. Kurt had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.She sat there now, and explained. �it is really not a loan at all: we actually buy your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. That way we�re protected from a complete loss, but you�re protected from the outrageous fees you would find in a loan from the bank.Kurt nodded. It sounded perfect - perhaps too good?.The woman laughed. �I'm not sure that you believe me,� she said.�No, I do, I just think it sounds a bit too good to be true. I thought I was going to lose my company.�Joyce smiled, agreeing. �Yes, we get a lot of that. There's no way we want to see you lose your business. We know how hard you work, and that you've invested everything in your business. Sometimes you need help. That�s what we�re here for.""Well, I'm very grateful that you came to see me today.""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 Joyce with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Kurt completed the form, with Joyce offering advice as needed.

 

The profile filled Joyce and her company in on Everett�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 Kurt filled out his form, Joyce was pretty sure he was a perfect candidate for factoring.When the form was done Joyce took it and slid it into her briefcase. Standing up, she reached over the desk and shook Everett's hand. He stood before they shook as well, and then smiled. They said their goodbyes and Kurt 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 Joyce 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. 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 there, he was on the right path, and he was working to make things right.His mind wandered back to the very beginning, when he first started his business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been really successful. Offering home cooking in his own hometown, his business had really prospered.But 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 six months off, and during that time he decided to create Bishop 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.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was nearing fifty. He was concerned that he just did not have the energy left to try and save the business. But giving up wasn't part of his personality either.

 

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

 

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More Trucking Factoring Company Story Articles

The reason why Truck Firms Utilize Factoring Companies.

 

As the owner of your own business enterprise, you may be much more than wary already of the challenge in making sure that capital issues do not become a difficulty down the line. After all, the most unfortunate thing that can in all probability occur for your enterprise is to find yourself embroiled in a long and hard condition that leaves you forever trying to find the money you necessitate on an continuing manner.

 

For any type of business enterprise in this instance, the problem can come for waiting for work to clear up and actually be paid out into your bank account. Statements, checks, and the like can take a while to actually to be taken care of which may leave you with temporary available resources issues. Thankfully, there are options out there for industries to explore-- and just one of these is factoring companies.

 

Factoring companies will, in trade for your statements, grant you with the money right away to ensure you do not have to stress over the waiting period which could make paying off the bills and getting toolsmore hard. With this type of setup, invoice factoring can come to be remarkably helpful for many businesses who ought to get out of a cash trap which they have found themselves in.

 

Since, basing on the volume of the task, it can take up to 60 days for many enterprises to get compensated then it is critical to cover up your own back and not leave yourself resources short to pay the expenses. After all, how many enterprises have two months income just occupying there to pay for all their expenditures until they earn?

 

This is primarily true of trucking companies. They have the tendency to handle great deals of statements which means a considerable amount of collection time demands company owner themselves. Striving to get paid promptly can develop into an extraordinary trouble and this is precisely why you utilize trucking factoring companies who are delighted to help out truckers exclusively.

 

As most of us know, trucking is an remarkably big industry with many companies out there working with hundreds of operators. However, plenty of these drivers end up in finances predicaments due to the fact that they are still waiting for work from six weeks in the past to actually pay them. When this is the situation for a trucking agency, choosing factoring providers for aid may be the very best alternative left.

 

This indicates that a trucking business can provide the paychecks of the people, keep all the vehicles topped off with fuel and continue to surmount, develop and expand without constantly waiting for the cash which is taking too long to come in. Trucking Companies working without a factoring program implemented are leaving themselves at notable hazard, as contenders cash out rapidly and proceed to expand.

 

There's genuinely almost nothing to be stressed about when it comes to making use of a Factoring establishment-- they typically are not like a banking company or an individual who is going to leave you with a big mound of financial obligation to pay back. You give them legitimate invoices from work you have already accomplished , you are merely facilitating the payment process.

 

In the United states of America, where trucking enterprises thrive, factoring agencies are not considered borrowing in any capacity. This confidential contract then allows both parties to benefit and indulge in a worry-free future-- it provides the factoring agency a secured asset of earnings to add to the list and it provides the trucking company the needed funds that they sweated to generate.

 

The trucking establishment presents their invoices to the factoring business. The trucking factoring provider then acquire the payments from the trucking company's clients. Factoring has been all around for hundreds of years and has been used for long times by many different business sectors-- but none more so than truckers. While you could miss out on a small part of the money, something like 1-3 % depending on who you partner with, it implies that you are receiving the funds today and can actually start off putting the money to do work.

 

Anyway, an IOU or an invoice is not actually going to fund overheads, is it? For trucking companies when the money can be very good one day and gone the next, it is up to the vehicle drivers to work sensibly and to ensure they are leaving themselves with a substantial volume of time and finance to get through the week up until they are paid once more.

 

So the next time your trucking business is enduring some temporary cash flow issues and you are investing excessive time chasing slowly paying clienteles, why not begin considering making use of a factoring companies as a method to get your finances and give yourself a more convenient future in the eyes of your trucking staff and your bank balance?

 

 

 

 

 

 

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Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. While these loans are handy they are not available to every business. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of 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

 

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

 

1. You will not Incur Debt. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. 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. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This means that it is easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.

 

3. Receive Your 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. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

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

 

As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The most important benefits is that once you sell your accounts receivable to the factory company, you do not have to take time away from running your business to collect the money owed from reluctant to pay customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

In addition, since the Trucking Factoring company evaluates the credit quality of your customers prior to purchasing the accounts receivable you gain valuable information into which customers are likely to pay and which ones are not so likely to pay.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

New York City

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Charlotte


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Boston


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Portland


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Colorado Springs


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Newark

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Jersey

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Gilbert town

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