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Receivables Mysteriously Disappear from the Books - Our Factoring Company Can Give
Your Truck Company The Money Your Company Needs

businessfinanceresource.org

trucking invoice factoring companies

freight invoice factoring

factoring for trucking companies

transportation factoring trucking

Medium-Size freight brokerage companies, specifically those who have actually not been in existence for extremely long, will frequently find it tough to protect a loan. Banks are commonly hesitant to lend cash to businesses that do not have a great deal of income and properties. They also want evidence of the practicality of a business and hence require that many operations, especially small ones, be in company for a particular quantity of time before they are willing to turn over any cash. Because of this, a small business typically has a couple of cash generating options when needs arise. One choice available, but commonly neglected, is receivable Financing. This is an exceptional method for a small company to obtain cash.

 

 

 

 

 

 

 

For The Business Who Wants To Look Better - Select A Trucking�Factoring Company  Instead Of A Regular Bank Funding

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

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

Money flow does not have to be a problem any ever more. Do not be fooled -- banks are not the only locations you can get financing. Other options are offered and you do not have to borrow money. What is trucking factoring ? One option is called trucking factoring. Truck Factoring is the process of selling accounts receivable to a financier instead of waiting to collect the cash from the client. Oh, the Irony- Trucking factoring has an ironic difference: It is the monetary backbone of many of America's most effective businesses. Why is this ironic ? Because staffing factoring is not taught in business colleges, is rarely discussed in company plans and is relatively unknown to bulk of most of American company individuals.

Yet it is a financial process that releases up billions of dollars every year, allowing countless companies to grow and succeed. Commercial Factoring has been around for countless years. Staffing Factoring Businesses are financiers who pay cash for the right to receive the future payments on your invoices. An overdue receivable or invoice has value. It is a debt your customer has actually agreed pay in the near future. Factoring Principals--Although factoring deals solely with business-to-business deals, a big percentage of the retail company uses a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail deals. Utilizing the purest definition of the word, these large customer finance business are really just large Receivable Funding Companies of customer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The shop makes money practically instantly, although you do not make payment up until you are ready.

For this service, the charge card company charges Sears a charge (typical common normal charges range from 2 to 4 percent of the sale). The Benefits Commercial Factoring can offer numerous advantages to cash-hungry business. Instead of waiting 30, 60, 90 days or longer for payment on a product that has actually already been delivered, a business can factor (sell) its receivables for money at a little price cut off the dollar value of the invoice. Payroll, marketing efforts, and working capital are simply a few of the company needs that can be satisfied with instant  cash.

Receivable Loan Financing offers the ways for a manufacturer to replenish stock and make more products to sell: There is no longer a requirement to wait for earlier sales to be paid. FACTORING is not simply a money management device for manufacturers: Almost any kind company can benefit from FACTORING. Typically, a business that extends credit will have 10 to 20 percent of its annual sales bound in accounts receivable at any given time. Think for a moment about how much is tied up in 60 days' worth of invoices: You can not pay the power expense or today s payroll with a client s invoice, but you can offer that invoice for the money to satisfy those responsibilities. Using trucking factoring companies is a fast and easy process. The factor purchases the invoice at a price cut, typically a couple of percentage points less than the stated value of the invoice.

 

 

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memphis-factoring-companies

 

The United states Trucking Organization
states that there are about
200,000 workers with freight trucking
companies and
276,000 personal service providers trucking
firms licensed to
run in America that transferred,
according to their newest searchings for billions of
products, supplies and
standard materials .
There are a number of typical
providers either going solo or in
teams on our country
highways transferring these
crucial products to our
stores, factories and harbors.

Moreover truck factoring
firms aid
several of them and offer their
receivable loan services
countrywidecounting
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

 

The city's central location has led to much of its business development. Located on the Mississippi River and intersected by five major freight railroads and two Interstate Highways, I-40 and I-55, Memphis is ideally located for commerce in the transportation and shipping industry. A third interstate, I-69, is under construction, and a fourth, I-22, has recently been designated from the former High Priority Corridor X. River barges are unloaded onto trucks and trains. The city is home to Memphis International Airport, the world's second busiest cargo airport (following Hong Kong), which serves as a primary hub for shipping.Memphis is the home of three Fortune 500 companies: , based in Nashville, has a factory in Memphis, near Beale St. and the The Federal Reserve Bank of St. Louis also has a branch in Memphis. , manufacturer of tissue products, operates the largest tissue manufacturing facility under one roof in the Memphis area.The entertainment and film industries have discovered Memphis in recent years. Several major motion pictures, most of which were recruited and assisted by the , have been filmed in Memphis, was set in Memphis but filmed in Atlanta. The 1992 television movie Memphis, starring Memphis native , who also served as executive producer and writer, was also filmed in Memphis. The city lost , whose production was lured to Georgia, and, a television series on set in Memphis, was lured to Louisiana.

 

 

Watch Our Factoring YouTube Video For More Information

 

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

 

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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

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

 

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

 

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

 

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.

 

 

"

Miller 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 boom times from 2002 to 2007 Miller Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. Times were great for everyone, and the cash was flowing.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed to a crawl

 

. Worse still, it was noticed by Miller 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 Miller, Richard Rodney, 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 gone to his administrators and asked them what the problem had been. 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. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Miller money had jumped ship and decided to leave him holding the bag.

 

. 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 Richard Rodney the situation looked desperate. Richard was very concerned, because there were constant overheads, goods to ship, employees to pay, and trucks which needed to be maintained, but there just wasn't the money coming back into the business. In the evenings he would discuss his concerns with his wife, Maria, and still find no relief from the worry and frustration.

 

""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""What could you do differently?"" she would say.Richard would stare off into the distance, and then slowly close his eyes. He could see the fleet of trucks he had purchased over the 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 on earth was happening to create the death of his business?""I think I know what it could be,"" Richard said. ""For way too long I've been relying solely on profits received from invoices. I've let too many of our customers go too long without paying on their bills."" Maria would look at her husband lovingly, and holding his hand would say 'it is such a harsh economy these days and our clients must be having difficulty meeting their responsibilities'.""Richard knew very well that Maria 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 Richard strolled into his office and was determined to sit down and make every phone call to every client who had owed Miller money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Richard knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. 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, Richard knew that he was in trouble.

 

After a half day of contacting debtors in vain - they dodged his calls or promised to call back at worst or made minimal interest-only payments at best - he was about to throw in the towel when his secretary Minnieerley knocked at his door.

 

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

 

""Sure thing Minnie, come on in."" Richard relaxed back into his chair and looked up at Minnieerley.""Well Richard, this afternoon I did some research, trying to work out how we are going to get out of this mess."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard of factoring?"" she asked.""It sounds vaguely familiar. What is factoring""? he asked.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.""Richard interrupted ""Immediately?"".""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. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It provides a very broad view.""Richard 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. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

The company will advise us the cost to purchase factoring for our company's accounts receivable. We come to an agreement and the funding starts pouring out.�Richard leaned forward and reviewed the paperwork closely.""I do not know, Minnie - it just sounds too good to be true"", Richard said quietly.""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. They appear to be very flexible, Richard,"" she underlined a paragraph on the paper before him.""Just how flexible?"" he asked.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. It only takes 2 to 4 days for this to be figured out. ""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. 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 Richard.Richard took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Richard thought about this and agreed with Minnieerley. The clients who owed them money were long standing friends and professional resources of Miller. Richard wasn't prepared to lose these relationships just because they were having financial issues at the moment. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. He did not want to lose business but he also did not want to lose any more money.""Well, let me think about this tonight Minnie, thank you."" Minnie nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Richard keep the shirt on his back, and possibly hers too.Richard sat behind his desk and looked over the details Minnie had not mentioned in their meeting. What other issues could freight factoring help Miller 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, Miller 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 Troy about this,"" muttered Richard to himself.Troy is Richard's son-in-law, and he really admired the ideas behind Miller, so much so that only two years before he had started his own transportation service business. Richard knew then what struggles Troy would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Miller was struggling then the little guys, like Troy, were going to be in even more trouble.

 

But, an antidote may have been found in freight factoring and Richard was soon to find out.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, Richard 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 took that time and refocused effort to offering competitive prices in new territories. Richard looked back on the dismal months of life before freight factoring and almost shuddered at the thought. If Richard hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

The city's central location has led to much of its business development. Located on the Mississippi River and intersected by five major freight railroads and two Interstate Highways, I-40 and I-55, Memphis is ideally located for commerce in the transportation and shipping industry. A third interstate, I-69, is under construction, and a fourth, I-22, has recently been designated from the former High Priority Corridor X. River barges are unloaded onto trucks and trains. The city is home to Memphis International Airport, the world's second busiest cargo airport (following Hong Kong), which serves as a primary hub for shipping.Memphis is the home of three Fortune 500 companies: , based in Nashville, has a factory in Memphis, near Beale St. and the The Federal Reserve Bank of St. Louis also has a branch in Memphis. , manufacturer of tissue products, operates the largest tissue manufacturing facility under one roof in the Memphis area.The entertainment and film industries have discovered Memphis in recent years. Several major motion pictures, most of which were recruited and assisted by the , have been filmed in Memphis, was set in Memphis but filmed in Atlanta. The 1992 television movie Memphis, starring Memphis native , who also served as executive producer and writer, was also filmed in Memphis. The city lost , whose production was lured to Georgia, and, a television series on set in Memphis, was lured to Louisiana.

 

 

More Trucking Factoring Companies Story Articles

The Future of a Trucking Company, and Factoring The phone was ringing on his desk, and Don Mason just sat there letting it ring. His morning coffee cooled and his cigarette smoked away in the tray: Don is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Mason 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.

 

Don�s father had started as an owner-operator and had grown Mason Trucking Company into a fifteen trailer fleet over forty years. There had been some hard times when it seemed everything was going to go under and even Don�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. Now the company was solely in Don�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. He knew that turning down these requests made Mason Trucking look inefficient and weak in what was currently a strong market.

 

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

 

Don knew he was right in his forward thinking. How would he take Mason Trucking to the next level? And how would he be able to afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

But was factoring the answer? There was a lot he didn�t understand about the process. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. 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.

 

Don had to really consider what his next step was going to be. Don 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. 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 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. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He was quite happy to sign an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. 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 Don 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 Don because he and his father had built up good strong relationships over decades with their list of clients. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients would not have any problems, nor would they think poorly of Mason Trucking, because the factoring companies handle themselves in such a polite and professional manner, similar to the way his father had managed the business in the past.

 

Feeling happier now, Don 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, Don could actually expand Mason 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 would not be inheriting a financial mess.

 

 

 

Watch Our Freight Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So, this is not a loan?� asked Jeff Graham, 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.Jeff Graham 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 Christian. His company was called Curtis Trucking, named after both of his grandfathers, Jay and Jared. They had both been hardworking men, and had done a lot to make Jeff the same.Disaster had struck half a year ago, when two trucks in Christian�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. Jeff 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 Jeff 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.Jeff 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 Rachel and she worked for a factoring company. He had accidentally come across her company one night when he was working late, searching the internet to see if there was some solution to his financial dilemma.Rachel explained. �it is really not a loan at all: we actually buy your accounts receivable. we are not giving you finance to be repaid later: we are purchasing something from you, and when you can you can buy it back. This is a win-win situation: we are protected from a total loss, and you're protected from the ridiculous fees and charges you'd have to pay if you borrowed from a bank.Jeff nodded. It sounded good to him, almost 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.�Rachel nodded. �We get that a lot. 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 why we do what we do.""Well, I'm very grateful that you came to see me today.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� Rachel said with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.

 

Jeff filled the form out, with Rachel available to help him if he needed it. The completed profile gave Rachel and her company all the information they needed on Christian's business, and with this information they would determine if this business would in fact be suitable for Factoring. Unfortunately, not all companies are. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. As Jeff completed his form, Rachel listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Rachel took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Christian�s hand. He stood before they shook as well, and then smiled. They said their goodbyes and Jeff 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 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 Rachel 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 sudden panic attacks, not matter where he was. He could feel it all fading 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.Jeff couldn�t help but think back to when he had first started the business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been really successful. Home cooking in his hometown, and he had done very well.But it wasn't what he really wanted to do. His passion didn�t lie with 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 Curtis 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.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was about to turn fifty. He was concerned that he just did not have the energy left to try and save the business. But 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. Jeff opened his eyes, sat forward, turned his computer on. 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 Trucking Firms Utilize Factoring Firms.

 

As the manager of your own business enterprise, you may likely be more than conscious already of the challenge in making sure that capital concerns do not become a difficulty down the line. After all, the most terrible thing that can in all probability develop for your enterprise is to find yourself dragged in a long and difficult circumstance that leaves you forever trying to find the funds you really need on an on-going basis.

 

For any sort of enterprise in this circumstance, the problem can come for waiting for work to clear up and actually be provided into your balance. Bill of sales, checks, and the like could take a long time to actually to beprocessed which can easily leave you with temporary capital issues. Luckily, there are solutions out there for businesses to look into-- and one of these is factoring companies.

 

Factoring agencies will, in exchange for your accounts, provide you with the cash asap to ensure that you do not need to fret about the waiting duration which could make paying off the expenses and acquiring toolsmore challenging. With this sort of setup, invoice factoring can end up being incredibly beneficial for plenty of enterprises who ought to avoid a money lure which they have gotten themselves in.

 

For the reason that, depending on the size of the task, it can take up to 60 days for some companies to get paid out then it is essential to take care of your own back and not leave yourself resources short to settle the costs. After all, how many businesses have two months earnings just lying there to handle all their bills till they earn?

 

This is especially correct of truck establishments. They often tend to manage numbers of statements which means a huge quantity of collection period concerns company owner themselves. Making an effort to get paid out promptly can eventually become an extraordinary headache and this is exactly why you employ truck factoring firms who are pleased to help out truckers exclusively.

 

As we all understand, trucking is an extremely large market with a lot of firms out there employing hundreds of operators. Unfortunately, numerous of these drivers wind up in money issues for the reason that they are still awaiting work from six weeks ago to actually pay them. When this is the situation for a trucking firm, depending on factoring providers for help may be the best choice left.

 

This implies that a trucking corporation can compensate the salaries of the work force, keep all the cars topped off with fuel and continue to escalate, develop and expand without consistently waiting for the income which is taking too prolonged to come in. Trucking Businesses operating without a factoring system implemented are leaving themselves at critical hazard, as rivals cash out rapidly and go on to broaden.

 

There's honestly nothing at all to be stressed about when it comes to employing a Factoring firm-- they commonly are not like a bank or any individual who is going to leave you with a significant mass of debt to repay. You give them legitimate invoices from work you have already finalized , you are just expediting the repayment process.

 

In the United states of America, where trucking companies prosper, factoring firms are not considered taking on loan in any capacity. This confidential settlement then permits both groups to profit and indulge in a comfortable future-- it gives the factoring provider a secured asset of income to put into the list and it furnishes the trucking company the needed funds that they sweated to obtain.

 

The trucking business presents their statements to the factoring firm. The trucking factoring company then collect the payments from the trucking company's customers. Factoring has beenaround for centuries and has been employed for decades by lots of various sectors-- 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 means that you are receiving the funds today and can actually begin setting the resources to perform.

 

After all, an IOU or an invoice is certainly not going to finance expenditures, is it? For trucking companies when the cash can be really good one day and gone the next, it is up to the drivers to work prudently and to make sure they are leaving themselves with a significant measure of time and finance to get through the week until they are paid for once more.

 

So the next period your trucking establishment is enduring some momentary cash flow problems and you are devoting excessive time chasing slowly paying customers, why not start off looking into employing a factoring companies as a manner to get your money and give yourself a more comfortable future in the eyes of your trucking personnel and your bank dividend?

 

 

 

 

 

 

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Traditional Bank Loans

 

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

 

Trucking Factoring Companies

 

Trucking Factoring companies do not offer loans, and you do not go into debt when you get money from a Trucking Factoring company. 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 you have set up Trucking Factoring account it continues as long as you wish it too and the amount of money available to you even can grow as your business grows, giving you the ready cash you need to meet your own obligations.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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

 

1. 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. 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. 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 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. With a Trucking Factoring company you can actually get the money you need faster. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

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

 

As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. 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

Los Angeles


Chicago


Houston


Philadelphia


Phoenix


San Antonio


San Diego


Dallas


San Jose

Austin


Jacksonville


Indianapolis


San Francisco


Columbus


Fort Worth


Charlotte


Detroit


El Paso


Memphis

 

 

Boston


Seattle


Denver


Washington DC


Nashville-Davidson


Baltimore


Louisville/Jefferson


Portland


Oklahoma City


Milwaukee


Las Vegas


Albuquerque


Tucson


Fresno


Sacramento


Long Beach


Kansas City


Mesa


Virginia Beach


Atlanta

 

Colorado Springs


Raleigh


Omaha


Miami


Oakland


Tulsa


Minneapolis


Cleveland


Wichita


Arlington

 

New Orleans

Bakersfield

Tampa

Honolulu

Anaheim

Aurora

Santa Ana

St. Louis

Riverside

Corpus Christi

Pittsburgh

Lexington Fayette

Anchorage

Stockton

Cincinnati

St. Paul

Toledo


Newark

Greensboro

Plano

Henderson

Lincoln

Buffalo

Fort Wayne

Jersey

Chula Vista

Orlando

St. Petersburg

Norfolk

Chandler

Laredo

Madison

Durham

Lubbock

Winston Salem

Garland

Glendale

Hialeah

Reno

Baton Rouge

Irvine

Chesapeake

Irving

Scottsdale

North Las Vegas

Fremont

Gilbert town

San Bernardino

Boise

Birmingham

Rochester

Richmond

Spokane

Des Moines

 

 

 

 

 

Memphis

 

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Philadelphia

 

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