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How To Get More Profit From Your Receivables - Our Trucking Factoring Company Can Give
Your Trucking Company The Money You Want

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Factoring invoices is beneficial for several factors. It enables a truck firm to raise money without obtaining brand-new debt. While debt is often needed, the majority of freight broker firm would like to raise money without obtaining cash. Debt is dangerous, and when it can not be paid back, assets can be repossessed. If the financial obligation is huge enough, it could even require a freight brokerage out of business.

 

 

 

 

 

 

 

How To Get Rich With - Pick A Trucking�Factoring Company  Instead Of A Typical Bank Financing

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

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

Money flow does not have to be a problem any ever more. Do not be deceived -- banks are not the only locations you can get funding. Other options are available and you do not have to borrow money. Exactly what is trucking factoring ? One solution is called trucking factoring. Truck Factoring is the process of selling invoices to an investor rather than waiting to collect the cash from the client. Oh, the Irony- Truck factoring has an ironic distinction: It is the monetary backbone of numerous of America's most successful businesses. Why is this paradoxical ? Because accounts receivable factoring is not taught in business colleges, is rarely discussed in company plans and is relatively unknown to the majority of most of American company individuals.

Yet it is a monetary procedure that releases up billions of dollars every year, allowing thousands of businesses to grow and prosper. Accounts Receivable Factoring has actually been around for countless years. Invoice Factoring Companies are investors who pay money for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your client has to pay in the near future. Factoring Principals--Although factoring deals 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 deals. Utilizing the purest definition of the word, these big customer finance business are truly simply large Receivable Loan Funding Businesses of consumer paper. Consider 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 until you are prepared.

For this service, the charge card company charges Sears a charge (typical common normal fees vary from 2 to four percent of the sale). The Advantages Truck Factoring can offer many advantages to cash-hungry companies. Instead of waiting 30, 60, 90 days or longer for payment on a product that has already been delivered, a company can factor (sell) its receivables for money at a small price cut off the amount of the invoice. Payroll, advertising efforts, and working capital are simply a few of the company requirements that can be satisfied with instant  money.

Staffing Factoring offers the ways for a manufacturer to renew inventory and make more items to offer: There is no longer a requirement to await for earlier sales to be paid. FACTORING is not simply a money management tool for manufacturers: Practically any kind business can take advantage of Commercial Factoring. Generally, a business that extends credit will have 10 to 20 percent of its yearly sales tied up in accounts receivable at any given time. Think for a minute about exactly how much is tied up in 60 days' worth of invoices: You can not pay the power bill or this week s payroll with a client s invoice, however you can offer that invoice for the cash to satisfy those responsibilities. Using trucking factoring companies is a fast and simple process. The factor buys the invoice at a price cut, typically a few portion points less than the stated value of the invoice.

 

 

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The United states Truck Organization
mentions that there are about
205,000 truck drivers with transportation
companies and
276,000 personal companies trucking
companies licensed to
run in America that carried,
according to their latest listings of millions of
items, materials and
fundamental materials .
There are numerous typical
carriers either going solo or in
teams on our country
roadways transferring these
important products to our
shops, factories and harbors.

Also freight bill factoring
corporations help
countless of them and offer their
accounts receivablesfinancing services
countrywidecomprising
including the following states.

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

 

According to USA Today, Omaha ranks eighth among the nation's 50 largest cities in both per-capita billionaires and Fortune 500 companies. [153] With diversification in several industries, including banking, insurance, telecommunications, architecture/construction, and transportation, Omaha's economy has grown dramatically since the early 1990s. In 2001 identified Omaha as one of the Top 10 high-tech havens in the nation.[154] Six national fiber optic networks converge in Omaha.[155]Omaha's most prominent businessman is, who is regularly ranked one of the richest people in the world. Five Omaha-based companies: [156] The city is also home to three of the 30 largest architecture firms in the United States, including HDR, Inc., DLR Group, Inc., and Leo A Daly.[157] Omaha has the fifth highest percentage of low-income African Americans in the country.[158] In 2013, ' named Omaha among its list of the Best Places for Business and Careers.[Omaha, the largest city in Nebraska and the seat of Douglas County, is located in the eastern part of the state on the west bank of the Missouri River, opposite Council Bluffs, Iowa.The Lewis and Clark expedition visited the area in 1804, and the U.S. Army built Ft. Atkinson nearby in 1819. Pierre Cabanne established a fur-trading post at the site in 1825. The first Mormon migrants wintered there in 1846�1847 on their way to Utah. The city grew rapidly as the most northerly supply point for overland wagons to the Far West.The city was officially founded in 1854 after the Nebraska Territory was opened for settlement. It was named for the Omaha Indians living nearby (whose tribal name means �those who go tream or against the current�). Omaha was incorporated as a city in 1857 and was the capital of the Nebraska Territory from 1855 to 1867. The city continued to thrive as a point of entry and a major transportation center when the Union Pacific transcontinental railroad arrived in 1869.Omaha is a major market for grain and livestock, food processing, telecommunications, and insurance. Other important industries include electrical equipment and finance as well as printing and publishing. It continues to be a major railroad hub

 

 

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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:

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

 

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

 

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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

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

 

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

 

 

"

Since the mid 1980s Taylor Truck & Haul have been successfully running their freight business. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the heady times from 2002 to 2007, Taylor 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. The money was flowing, and times were great.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed down. And worse yet, Taylor 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, Thomas Lawrence, CEO of Taylor felt a chill go down his spine whenever he would look at the weekly A/R reports. There was a growing list of clients who now owed them back debt.He had already been to the administrators to ask what the actual problem was. Were they doing something wrong or different when it came to reaching out to delinquent accounts? When checking his bookkeeper's records this was definitely not the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Taylor hadn't gone elsewhere. They had just gone home.This current state-of-affairs was causing Thomas Lawrence to have some very restless nights. 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, Dorothy, and neither were unable to stop the constant worry over the lack of funds.""I have a bad feeling, Lin,"" he would say with deep woe.""Well, what do you think it is?"" she would say.Thomas would stare off into the distance, and then slowly close his eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them on the road, delivering good to all his loyal customers. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. Why couldn�t he work out how to resolve this financial problem with his business?""I think I know what it could be,"" said Thomas. ""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."" Linda could only grab her husband's hand and look at him lovingly, ""it is a hard economy. It might be awhile until things get settled up.

 

""Thomas knew very well that Dorothy 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 Thomas walked into his office with a spring in his step, determined to call each and every client who owed money to Taylor Truck & Haul. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. Wasting money, wasting time - even with the best of intentions, Thomas knew that he was in trouble.

 

Poor Thomas 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.

 

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

 

""Sure thing Marilyn, come on in."" Thomas relaxed back into his chair and looked up at Marilynerley.""Well Thomas, 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?"" she asked.""It does sound vaguely familiar. What is it?"" he said.She began, ""Well, it is really very simple. So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Immediately?"" Thomas interrupted.""Immediately, yes"" she added, ""it is actually very simple. 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.""Thomas replied cautiously ""I see - and what happens then?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. There�s a lot of flexibility depending on the business volume and credit histories. This company tells us what the cost will be to purchase factoring for our accounts receivable. We come to an agreement and the funding starts pouring out.�Thomas was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Marilyn,"" he said.""Now, now, I know, I thought the same thing. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. And they're flexible Thomas,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" asked Thomas.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. Apparently they can figure this all out in two to four days.

 

""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" said Thomas.Thomas took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Thomas thought about this and agreed with Marilynerley. The customers who were in debt to Taylor Truck & Haul were professional resources of the company, but they were also long-standing friends. Thomas 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 could create a disaster situation for both of them if he wasn't careful in how these debtors were handled. Of course he did not want to lose any more money, but he did not want to lose business either.""Let me go over this tonight Marilyn, and thankyou."" Marilyn nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Thomas 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 Taylor 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. In fact, Taylor could receive up to fifty-percent cash advances upon load pick-ups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""Well, I'll have to tell Micheal about this,"" muttered Thomas to himself.His son-in-law Micheal had liked the idea of Taylor so much and revered his father in law for having such business acumen that only two years before, he had gathered the venture capital to begin his own transportation service company. At that time Thomas knew the struggles Micheal would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Taylor was struggling then the little guys, like Micheal, were going to be in even more trouble.

 

But, maybe the answer for both of them was in freight factoring, and Thomas 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, Thomas 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. Thomas looked back on the dismal months of life before freight factoring and almost shuddered at the thought. He probably wouldn't be in business today had he not learned just in time about freight factoring.

 

"

 

According to USA Today, Omaha ranks eighth among the nation's 50 largest cities in both per-capita billionaires and Fortune 500 companies. [153] With diversification in several industries, including banking, insurance, telecommunications, architecture/construction, and transportation, Omaha's economy has grown dramatically since the early 1990s. In 2001 identified Omaha as one of the Top 10 high-tech havens in the nation.[154] Six national fiber optic networks converge in Omaha.[155]Omaha's most prominent businessman is, who is regularly ranked one of the richest people in the world. Five Omaha-based companies: [156] The city is also home to three of the 30 largest architecture firms in the United States, including HDR, Inc., DLR Group, Inc., and Leo A Daly.[157] Omaha has the fifth highest percentage of low-income African Americans in the country.[158] In 2013, ' named Omaha among its list of the Best Places for Business and Careers.[Omaha, the largest city in Nebraska and the seat of Douglas County, is located in the eastern part of the state on the west bank of the Missouri River, opposite Council Bluffs, Iowa.The Lewis and Clark expedition visited the area in 1804, and the U.S. Army built Ft. Atkinson nearby in 1819. Pierre Cabanne established a fur-trading post at the site in 1825. The first Mormon migrants wintered there in 1846�1847 on their way to Utah. The city grew rapidly as the most northerly supply point for overland wagons to the Far West.The city was officially founded in 1854 after the Nebraska Territory was opened for settlement. It was named for the Omaha Indians living nearby (whose tribal name means �those who go tream or against the current�). Omaha was incorporated as a city in 1857 and was the capital of the Nebraska Territory from 1855 to 1867. The city continued to thrive as a point of entry and a major transportation center when the Union Pacific transcontinental railroad arrived in 1869.Omaha is a major market for grain and livestock, food processing, telecommunications, and insurance. Other important industries include electrical equipment and finance as well as printing and publishing. It continues to be a major railroad hub

 

 

More Trucking Factoring Companies Story Articles

"

Factoring in the Future of a Trucking Business: A Story The phone was ringing on his desk, and Rafael Castillo just sat there letting it ring. His morning coffee cooled and his cigarette smoked away in the tray: Rafael is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Castillo 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 Rafael's father had started this business working as an owner-operator and eventually growing Castillo Trucking Company into a fifteen trailer fleet. There had been some hard times when it seemed everything was going to go under and even Rafael�s mother strapped herself into a cab to make hauls. His father had worked long enough to see the price of hires drop dramatically during the recession and to see the explosion of fuel prices afterwards. But now things were different: the company was in Rafael's hands and he needed to ensure that this business would be left in great shape for his sons.

 

There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. 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, Castillo 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. Rafael chuckled, thinking about his father. He remembered when his father was totally against installing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). He knew his father's days were long gone and new technology was very important for the business, like having Qualcomm to reduce communication time for bills of lading.

 

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

 

But was factoring the answer? If he was being honest, he did not really understand how it all worked. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. 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 the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Rafael had to really consider what his next step was going to be. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! 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. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

But it turned out to be quite easy. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He was quite happy to sign an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. Many companies offered a non-recourse factoring program that suited him just fine. He was more than happy with the figures he was offered in percentage terms on the freight bills. It sounded like a great scheme to him.

 

For Rafael 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. Factoring was based on the credit of his customers and on their reliability which worked well for Rafael because he and his father had built up good strong relationships over decades with their list of clients. So he knew they would understand when the factoring company contacted them for the invoices. His clients would not have any problems, nor would they think poorly of Castillo Trucking, because the factoring companies handle themselves in such a polite and professional manner, similar to the way his father had managed the business in the past.

 

Rafael stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. He suddenly realized that, with this new cash flow, he could actually expand Castillo Trucking Company and who knows, move into Canada, which had always been his dream. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

"

 

 

Watch Our Freight Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� asked Tony Hawkins, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she said.Tony was the owner of a small trucking company which had fallen on some hard times recently. Trucking could be a profitable business, and for a little under a decade, it had been for Alexander. His company was called Peters Trucking, named after both of his grandfathers, Dan and Frank. They had both been hardworking men, and had done a lot to make Tony the same.Six months ago disaster struck Alexander'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. Tony 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 Tony had on hand.A big problem a lot of trucking companies came across was how bills were paid in the industry. You could go a month or more before bills were completely paid off. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Tony was an excellent business man, and he certainly hadn't done anything wrong. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.That�s where the woman across the desk came in. Tony knew she was employed by a Factoring company and that her name was Tanya. Tony 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.Tanya 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.Tony agreed. It sounded good to him, almost too good.The woman laughed. �I'm not sure that you believe me,� she chuckled.�No, I do, I just think it sounds a bit too good to be true. I actually thought I might end up losing my business.�Tanya 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. We all need help sometimes. That�s what we�re here for.""In any case, thank you for coming to see me.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Tanya with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.

 

Tony filled the form out, with Tanya available to help him if he needed it. The profile filled Tanya and her company in on Alexander�s company, and would help them determine if he was suitable for factoring. In truth, not all companies were. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. As Tony completed his form, Tanya listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Tanya took it and slid it into her briefcase. Standing up, she reached over the desk and shook Alexander's hand. He also stood up, and they smiled at each other. Tony walked Tanya to the door where they said 'Goodbye', then he went back into his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He leaned back and closed his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. Talking to Tanya though, learning about factoring, it felt like a weight had been lifted from his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.The long nights, where he couldn�t sleep. The sudden panic attacks, not matter where he was. Already he could feel all the stress start to drain away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was there, he was on the right path, and he was working to make things right.His mind wandered back to the very beginning, when he first started his business. At twenty-two and straight out of school he had opened a restaurant. It had been successful. Offering home cooking in his own hometown, his business had really prospered.But it wasn't what he really wanted to do. He wasn't passionate about the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took half a year off, and in that time he thought to start Peters Trucking. And that's exactly what he did. Once again he built a company from the ground up. The business had been an instant success.And then the trucks went down, and his success looked to be in flux. He was nearing fifty. He didn�t think he had it in him, to save this company. But giving up wasn't part of his personality either.

 

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. Tony opened his eyes, sat forward, turned his computer on. He had lots 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 Truck Agencies Use Factoring Companies.

 

As the manager of your own firm, you may well be much more than aware already of the challenge in making certain that capital issues do not become a predicament down the line. Anyway, the most horrible thing that can quite possibly take place for your firm is to find yourself involved in a long and challenging circumstance that leaves you forever searching for the finances you require on an continual manner.

 

For pretty much any enterprise in this circumstance, the trouble can come for waiting for work to lapse and actually be paid out into your statement. Invoices, checks, and the like can take a long time to actually to beprocessed which can easily leave you with momentary capital difficulties. Gratefully, there are approaches out there for enterprises to examine-- and just one of these is factoring providers.

 

Factoring agencies will, in substitution for your bill of sales, grant you with the cash asap to ensure that you do not need to worry about the lingering time span which could make paying the bills and getting toolsmore troublesome. With this style of system, invoice factoring can end up being incredibly beneficial for lots of establishments who ought to avoid a cash pitfall which they have discovered themselves in.

 

Because, depending upon the scale of the task, it can take up to 60 days for a number of establishments to get paid out then it is vital to cover your own back and certainly not leave yourself money short to pay the bills. After all, how many firms have two months earnings just lying there to cover all their spendings till they earn?

 

This is especially correct of trucking agencies. They tend to manage good deals of accounts which means a substantial amount of collection period demands business owner themselves. Trying to get paid out promptly can become an amazing struggle and this is the key reasons why you use truck factoring agencies who are happy to help out truckers specifically.

 

As most of us understand, trucking is an amazingly enormous field with plenty of agencies out there employing hundreds of vehicle drivers. Unfortunately, plenty of these drivers end up in money problems for the reason that they are still expecting work from six weeks previously to actually pay them. When this is the case for a truck company, depending on factoring agencies for aid could be the very best choice left.

 

This implies that a truck corporation can compensate the paychecks of the work force, keep all the cars loaded with fuel and continue to escalate, rise and expand without constantly waiting for the cash which is taking too lengthy to come in. Trucking Business enterprises functioning without a factoring program used are leaving themselves at substantial risk, as rivals cash out rapidly and go on to develop.

 

There's absolutely not much to be distressed about when it comes to utilizing a Factoring company-- they typically are not like a financial institution or someone who is going to leave you with a substantial mound of financial obligation to pay back. You give them authentic invoices from work you have already wrapped up , you are only just facilitating the repayment process.

 

In the Usa, where truck agencies do well, factoring companies are not considered getting a loan in any capacity. This confidential agreement then allows both parties to benefit and take pleasure in a comfortable future-- it provides the factoring firm a guaranteed resource of income to include in the list and it gives the trucking business the needed money that they sweated to generate.

 

The trucking business provides their statements to the factoring enterprise. The trucking factoring business then receive the installment payments from the trucking company's clients. Factoring has been all around for hundreds of years and has been adopted for many years by numerous varying fields-- but none more so than truckers. While you might possibly miss out on a small part of the money, something like 1-3 % depending upon who you partner with, it implies that you are receiving the funds today and can actually start off putting the funds to operate.

 

Anyway, an IOU or an invoice is not going to finance bills, is it? For trucking enterprises when the resources can be good one day and gone the next, it is up to the drivers to work smartly and to make sure they are leaving themselves with a substantial quantity of time and finance to get through the week till they are compensated again.

 

So the next instance your trucking business is bearing some temporary cash flow troubles and you are spending a bit too much time chasing inactive paying clients, why not begin looking at employing a factoring companies as a manner to get your cash and give yourself a more pleasant future in the eyes of your trucking crew and your bank dividend?

 

 

 

 

 

 

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Traditional Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. These loans can be a life-saver, but they're not always available to every business. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Once the loan is paid off, you can then apply for another loan if the need arises.

 

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 finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared 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.

 

What Are The Benefits Of A Trucking Factoring Company Versus A Traditional Bank Loan?

 

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

 

1. You will not Incur Debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. There's no collateral required. Another great benefit of using the services of a Trucking Factoring company instead of a bank loan is that there is no collateral required for the Trucking Factoring company, because the Trucking Factoring company is buying your accounts receivables. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This means that it is easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.

 

3. Receive Your Money Faster. Using a Trucking Factoring company means that you'll get the finance quicker. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.You receive interest up-front. With a bank loan interest continues to build, and this has to be paid the whole time you have a business loan; however with a Trucking Factoring company there is no interest - they take it right off the top by deducting it from the total amount of receivable accounts. 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. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a 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 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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