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How to Swim with The Banks without Being Eaten Alive - Our Freight Invoice Factoring Companies Can Give
Your Truck Company The Cash You Want

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Medium-Size truck businesses, especially those who have actually not been around for very long, will typically find it challenging to secure a loan. Banks are typically reluctant to lend cash to businesses that do not have a lot of earnings and possessions. They also want proof of the viability of a business and thus need that a lot of operations, particularly little ones, be in company for a particular quantity of time before they want to hand over any money. Because of this, a medium-size business often has few cash producing choices when needs occur. One alternative available, but commonly neglected, is factoring. This is an excellent method for a small company to acquire money.

 

 

 

 

 

 

 

Profits That Lie Hidden In Your Company - Choose The Best Factoring Company Instead Of A Regular Bank Financing

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

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

Cash flow does not have to be a problem any ever more. Do not be deceived -- banks are not the only places you can get financing. Other options are available and you do not have to borrow money. What is trucking factoring ? One solution is called truck factoring. Truck Factoring is the procedure of selling accounts receivable to an investor instead of waiting to gather the cash from the client. Oh, the Irony- Trucking factoring has an ironic distinction: It is the monetary backbone of numerous of America's most successful businesses. Why is this ironic ? Since truck factoring is not instructed in business colleges, is rarely mentioned in business plans and is fairly unidentified to the majority of most of American company people.

Yet it is a monetary process that releases up billions of dollars every year, allowing thousands of businesses to grow and prosper. Receivable Loan Funding has actually been around for countless years. Commercial Factoring Businesses are investors who pay money for the right to receive the future payments on your invoices. An overdue receivable or invoice has value. It is a financial obligation your customer has actually to pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business deals, a big portion of the retail company uses a factoring principal. MasterCard, Visa, and American Express all utilize a type of factoring in their retail transactions. Utilizing the purest definition of the word, these large customer finance business are really just big Truck Factoring Companies of customer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The store gets paid practically immediately, although you do not make payment up until you are ready.

For this service, the charge card business charges Sears a charge (typical common normal charges vary from two to 4 percent of the sale). The Benefits Accounts Receivable Factoring can offer numerous benefits to cash-hungry companies. Rather than wait 30, 60, 90 days or longer for payment on an item that has actually currently been provided, a business can factor (sell) its receivables for cash at a small price cut off the amount of the invoice. Payroll, advertising efforts, and working capital are just a few of the company requirements that can be satisfied with instant  money.

Truck Factoring provides the ways for a manufacturer to replenish inventory and make even more products to offer: There is no longer a need to wait for earlier sales to be paid. Receivable Loan Financing is not simply a money management tool for manufacturers: Almost any type business can take advantage of Truck Factoring. Generally, a business that extends credit will have 10 to 20 percent of its yearly sales tied up in invoices at any given time. Think for a minute about 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 sell that invoice for the cash to satisfy those obligations. Using trucking factoring companies is a quick and simple process. The factoring company purchases the invoice at a discount, typically a couple of portion points less than the face value of the invoice.

 

 

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The American Truck Association
states that there around
195,000 work with truck
firms and
276,000 personal service providers trucking
companies accredited to
run in the United States that transported,
according to their most current searchings for billions of
items, supplies and
fundamental products .
There are numerous typical
carriers either going solo or in
groups on our nation
roads transporting these
important items to our
shops, factories and harbors.

Plus freight invoice factoring
companies support
countless of them and offer their
receivables financing facilities
nationallyincluding
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

 

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Watch Our Freight Factoring YouTube Videos For More Information

 

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

EveryTruckJob.com 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 andbenefits offered. Search current driving jobs and fill out the EZ truck driver application customized for cdl trucking jobs

 

EveryTruckJob.com 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 andbenefits offered. Search current driving jobs and fill out the EZ truck driver application customized for cdl trucking jobs

 

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

 

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.

 

EveryTruckJob.com 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 andbenefits 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. FreightCenter helps make freight shipping simple, finding you the safest, reliable trucking companies every time you ship. Our 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

 

 

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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 couldn't 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's 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're 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's 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 don't 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're 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're 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 didn't 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 didn't want to lose business but he also didn't 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 didn't allow room to breathe, so he was pleasantly surprised to see that the factoring company didn't 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.

 

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New York is a vibrant center for commerce and business and one of the three ""world cities"" (along with London and Toyko) that control world finance. Manufacturing�primarily of small but highly diverse types�accounts for a large but declining amount of employment. Clothing and other apparel, such as furs; chemicals; metal products; and processed foods are some of the principal manufactures. The city is also a major center of television broadcasting, book publishing, advertising, and other facets of mass communication. It became a major movie-making site in the 1990s, and it is a preeminent art center, with artists revitalizing many of its neighborhoods. The most celebrated newspapers are the New York Times and the Wall Street Journal. New York attracts many conventions�including the national Democratic (1868, 1924, 1976, 1980, 1992) and Republican (2004) party conventions�and was the site of two World's Fairs (1939�40; 1964�65). It is served by three major airports: John F. Kennedy International Airport and LaGuardia Airport, both in Queens, and Newark International Airport, in New Jersey. Railroads converge upon New York from all points.With its vast cultural and educational resources, famous shops and restaurants, places of entertainment (including the theater district and many off-Broadway theaters), striking and diversified architecture (including the Woolworth Building, Chrysler Building, Empire State Building, Seagram Building, and Gehry's 8 Spruce St.), and parks and botanical gardens, New York draws millions of tourists every year. Some of its streets and neighborhoods have become symbols throughout the nation. Wall Street means finance; Broadway, the theater; Fifth Avenue, fine shopping; Madison Avenue, advertising; and SoHo, art

 

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More Trucking Factoring Companies Story Articles

Factoring in the Future of a Trucking Business: A Story Brandon Peterson let the phone ring on his desk. His morning coffee cooled and his cigarette smoked away in the tray: Brandon is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Peterson 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 Brandon's father had started this business working as an owner-operator and eventually growing Peterson Trucking Company into a fifteen trailer fleet. There had been some hard times when it seemed everything was going to go under and even Brandon�s mother strapped herself into a cab to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. Now the company was solely in Brandon�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. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. Every time he had to turn down a request, Peterson Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Brandon allowed himself a good hard chuckle. He remembered when his father was totally against installing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). 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.

 

Brandon believed a successful man is always thinking of his next step. How would he take Peterson Trucking to the next level? More importantly, how could he afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

But was factoring the answer? There was a lot he didn�t understand about the process. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. During those thirty days the trucking company can't pay its employees and bills with invoices.

 

Brandon had to really consider what his next step was going to be. Brandon 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! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

However, it all turned out to be very simple. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. 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 wouldn't 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.

 

It was really refreshing dealing with the factoring people. 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 Brandon because he and his father had created a very strong and loyal list of clientele over the years. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients wouldn�t think poorly of Peterson 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, Brandon stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. 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. With the capabilities of this new cash flow, Brandon could actually expand Peterson Trucking Company further across the country and perhaps even go international into Canada. 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 wouldn't be inheriting a financial mess.

 

 

 

Watch Our Truck Factoring Companies Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

�So It is not a loan?� asked Lawrence Holmes, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�No, not exactly,� she said.Lawrence Holmes 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 Willard. He named his business Chavez Trucking, named after Brett and Brian, his two grandfathers. Both of these men had been very hardworking and had set a great example for Willard.Disaster had struck half a year ago, when two trucks in Willard�s fifteen truck fleet went down. One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. Lawrence depended on his full fleet, and missing two trucks was devastating . In addition, he just didn't have the available cash to buy a new truck, plus repair the other one.A big problem a lot of trucking companies came across was how bills were paid in the industry. You could go a month or more before bills were completely paid off. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Lawrence was an excellent business man, and he certainly hadn't done anything wrong. Certain events had occurred that he couldn't 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. Lawrence knew she was employed by a Factoring company and that her name was Angela. Lawrence 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.Lawrence agreed. It sounded good to him, almost too good.Angela laughed. �I'm not sure that you believe me,� she said.�Oh no, I do: it just sounds too good to be true. I actually thought I might end up losing my business.�Angela smiled, agreeing. �Yes, we get a lot of that. Listen, I�d hate to see you lose your company. You work hard, you�ve put everything you can into it. 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 Angela with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Lawrence filled the form out, with Angela available to help him if he needed it. The completed profile gave Angela and her company all the information they needed on Willard's business, and with this information they would determine if this business would in fact be 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 Lawrence filled out his form, Angela was pretty sure he was a perfect candidate for factoring.When the form was done Angela took it and slid it into her briefcase. She then stood, reached across the desk and shook Willard�s hand. He also stood up, and they smiled at each other. Lawrence walked Angela to the door where they said 'Goodbye', then he went back into his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He shut his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. But now, after speaking to Angela and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.The long nights, where he couldn�t sleep. The terrifying panic attacks that occurred regardless of where he was. He could feel it all fading away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.His mind wandered back to the very beginning, when he first started his business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been successful. Home cooking in his hometown, and he had done very well.But he had gotten bored. His passion didn�t lie with the food industry. He thought long and hard, and then he decided to sell the restaurant. He took six months off, and during that time he decided to create Chavez Trucking. So he did it. For the second time in his short life he created a company from the ground up. He had been successful.And then the trucks went down, and his success looked to be in flux. He was about to turn fifty. He was concerned that he just didn't have the energy left to try and save the business. But he couldn�t give up. The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He didn�t know how to say quit.And now it seemed as though he wouldn't have to - all because of Factoring. Lawrence opened his eyes, sat forward, turned his computer on. He had things to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

 

 

 

More Trucking Factoring Company Story Articles

Why Truck Establishments Utilize Factoring Companies.

 

As the manager of your own business, you may perhaps be more than mindful already of the challenge in making sure that cash flow issues do not become a difficulty down the line. After all, the most terrible thing that can quite possibly occur for your establishment is to find yourself embroiled in a long and challenging condition that leaves you forever looking for the funds you need on an ongoing manner.

 

For any kind of establishment in this scenario, the dilemma can come for waiting for work to clear up and actually be paid out into your account. Statements, checks, and the like could take a long time to actually to be taken care of which can leave you with temporary available resources problems. The good news is, there are alternatives out there for industries to explore-- and just one of these is factoring providers.

 

Factoring agencies will, in trade for your bill of sales, give you with the money now so you don't need to stress over the delaying phase that could make paying the expenses and purchasing toolsmore difficult. With this type of system, invoice factoring can come to be extremely valuable for numerous establishments who need to get out of a cash ploy which they have discovered themselves in.

 

Given that, depending on the volume of the job, it can take up to 60 days for a number of firms to get compensated then it's necessary to take care of your own back and certainly not leave yourself money short to pay off the monthly bills. After all, how many enterprises have two months profits just occupying there to pay for all their spendings until they earn?

 

This is particularly true of truck companies. They have the tendency to manage bunches of invoices which means a serious quantity of collection period entails company owner themselves. Making an effort to get paid off promptly can eventually become an extraordinary struggle and this is the reason why you utilize truck factoring companies who are thrilled to help out truckers mainly.

 

As we all know, trucking is an astonishingly massive market with plenty of organizations out there working with hundreds of drivers. Regretfully, numerous of these drivers land up in cash problems simply because they are still awaiting work from six weeks previously to actually pay them. When this is the situation for a trucking organization, depending on factoring providers for solutions maybe the most recommended alternative left.

 

This means that a truck firm can pay off the paychecks of the workers, keep all the vehicles topped off with gas and continue to scale, thrive and expand without consistently waiting for the finances which is taking too long to come in. Trucking Enterprises operating without a factoring system put in place are leaving themselves at notable hazard, as rivals cash out quickly and carry on to expand.

 

There's absolutely nothing at all to be stressed about when it comes to working with a Factoring contractor-- they commonly are not like a banking company or an individual who is going to leave you with a significant pile of personal debt to repay. You give them legitimate invoices from output you have already finished , you are only accelerating the repayment system.

 

In the Usa, where trucking agencies do well, factoring companies are not considered accepting loan of in any capacity. This private deal then makes it possible for both groups to make money and enjoy a convenient future-- it gives the factoring provider a secured asset of income to put into the list and it offers the trucking company the required money that they worked hard to obtain.

 

The trucking firm gives their statements to the factoring business. The trucking factoring provider then obtain the payment amounts from the trucking company's clients. Factoring has been all around for hundreds of years and has been employed for many years by plenty of various markets-- but none exceeding so than truckers. While you might 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 resources today and can actually begin setting the cash to do work.

 

After all, an IOU or an invoice is definitely not going to fund bills, is it? For trucking enterprises when the finances can be good one day and gone the next, it's up to the drivers to work sensibly and to make certain they are leaving themselves with a considerable amount of time and finance to get through the week till they are handed over again.

 

So the next time your trucking company is bearing some temporary capital dilemmas and you are putting in a lot of time chasing sluggish paying clients, why not start off thinking about employing a factoring businesses as a way to get your money and give yourself a more comfortable future in the eyes of your trucking team and your bank balance?

 

 

 

 

 

 

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Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. 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's 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. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have 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.

 

What Are The Benefits Of A Trucking Factoring Company Versus A Traditional 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 Won't Incur Debt. Since the Trucking Factoring company actually buys your accounts receivable you don't actually incur debt like you do with a bank loan. This has many benefits including the fact, that this type of financing won't affect either your business credit rating or your personal credit rating. In the event that your business fails, you wouldn't have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

2. There's no collateral required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you aren't 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's easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.

 

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

 

4.You receive interest up-front. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you don't 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 don't have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. 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. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very efficient at debt collecting, and this frees up your valuable time to devote to running your company.

 

In addition, since the Trucking Factoring company evaluates the credit quality of your customers prior to purchasing the accounts receivable you gain valuable information into which customers are likely to pay and which ones are not so likely to pay.While a Trucking Factoring company is not the only way for your business to obtain the money it needs to keep growing, it does offer a type of financing well worth considering.

 

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