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How To Get More Profit From Your Receivables - Our Freight Invoice Factoring Company Can Give
Your Freight Company The Money Your Company Needs

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Truck Factoring is beneficial for several reasons. It allows a trucking business to raise money without obtaining new financial obligation. While financial obligation is in some cases essential, most truck businesses would like to raise cash without borrowing money. Financial obligation is dangerous, and when it can not be paid back, assets can be repossessed. If the debt is huge enough, it might even require a freight broker firm out of business.

 

 

 

 

 

 

 

I liked this product so much - that I  - Pick A Receivable Loan C0mpany Instead Of A Traditional 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 actually experienced poor cash flow.

Cash flow does not have to be a problem any more. Do not be deceived -- banks are not the only places you can get financing. Other options are offered and you do not have to borrow. What is trucking factoring ? One option is called trucking factoring. Truck Factoring is the process of offering invoices to a financier rather than waiting to gather the cash from the client. Oh, the Irony- Trucking factoring has an ironic distinction: It is the monetary foundation of many of America's most successful businesses. Why is this paradoxical ? Because staffing factoring is not instructed in business colleges, is rarely discussed in business plans and is relatively unknown to the majority of most of American business people.

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

For this service, the charge card business charges Sears a fee (typical common normal charges range from two to four percent of the sale). The Advantages Receivable Funding can provide many advantages to cash-hungry companies. Rather than wait 30, 60, 90 days or longer for payment on a product that has actually currently been provided, a business can factor (sell) its receivables for money at a little discount off the amount of the invoice. Payroll, advertising efforts, and working capital are simply a few of the business needs that can be met with instant  money.

Receivable Financing provides the means for a manufacturer to replenish inventory and make even more items to offer: There is no longer a requirement to wait for earlier sales to be paid. FACTORING is not simply a money management tool for manufacturers: Practically any type company can take advantage of Receivable Funding. 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 how much is tied up in 60 days' worth of invoices: You can not pay the power bill or today s payroll with a customer s invoice, but you can offer that invoice for the money to meet those responsibilities. Using truck factoring companies is a fast and easy process. The factor buys the invoice at a price cut, typically a couple of percentage points less than the face value of the invoice.

 

 

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The American Transportation Organization
mentions that there around
200,000 employees with freight trucking
companies and
300,000 private companies trucking
companies accredited to
run in the U.S. that transported,
according to their most current listings of millions of
products, supplies and
standard products .
There are numerous common
carriers either going solo or in
groups on our country
roadways transporting these
vital items to our
shops, factories and shipping ports.

Plus freight bill factoring
companies support
countless of them and offer their
factoring services
nationallycomprising
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

 

Honolulu is the capital and largest city of Hawaii, on the southeast coast of the island of Oahu. The city is legally coextensive with the county of Honolulu, which includes the entire island of Oahu and most of the Northwest Hawaiian Islands, from Nihoa to Kure Atoll, except Midway. The population of Oahu makes up 73% of the state's total population. It is situated in the central Pacific Ocean 2,397 mi west-southwest of San Francisco. Honolulu's name derives from the native words hono, meaning �a bay,� and lulu, meaning �sheltered.�Honolulu's early history was one of turbulence and coict. One of the last areas on the globe to be explored and exploited by Europeans (it was first visited by British captain James Cook in 1778), Hawaii was subject to strong pressures from many forces, including American missionaries, who arrived in 1820, and opportunistic whalers. These whalers were among those who built Honolulu originally, bringing trade, commerce, and prosperity that led to expansion into the sugar and pineapple industries.As early as 1814, Russia tried to move in, and Russian soldiers built a bastion at the harbor's edge. The British flag was raised in 1843 and French forces occupied Honolulu in 1849. Each time control was returned to the independent native kingdom without bloodshed. In 1898, a group of Americans completed a project attempted at intervals during the previous 65 years�annexation to the United States. Honolulu was incorporated as a city in 1907.The Honolulu area was bombed by Japan in a surprise attack on the unprepared U.S. naval base at Pearl Harbor on Dec. 7, 1941. This action forced the United States to enter World War II. �Remember Pearl Harbor� became a famous American wartime slogan.Hawaiian statehood in 1959 and the viability of commercial air travel to the island brought boom times to Honolulu. Tourism is the city's principal industry, followed by federal defense expenditures and agricultural exports (chiefly pineapples).

 

 

View Our Truck Factoring YouTube Videos For More Information

 

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

The largest trucking companies in the U.S. set a revenue record in 2013, but revenuegrowth slowed for the second year in a row.

The combined revenue of the 50 largest motor carriers rose to $106.6 billion last year, according to The Top 50 Trucking Companies list, based on data prepared by Consulting Group in Pittsburgh.

 

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

 

The largest trucking companies in the U.S. set a revenue record in 2013, but revenuegrowth slowed for the second year in a row.

The combined revenue of the 50 largest motor carriers rose to $106.6 billion last year, according to The Top 50 Trucking Companies list, based on data prepared by Consulting Group in Pittsburgh.

 

Click below to find Trucking Companies in the United States:

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

Click below to find Trucking Companies in the United States:

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

Click below to find Trucking Companies in the United States:

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

 

"

Since the mid 1980s Rice 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 boom times from 2002 to 2007 Rice 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 down. And worse yet, Rice 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. Spring changed to summer, summer changed to fall, and the CEO of Rice, Marcus Moore, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The number of clients who were late in their payments was continuing to grow.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? By his bookkeepers records, this wasn't the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. They could not afford to pay him their debt, but they could afford a lesser service, maybe. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Rice hadn't gone elsewhere. They had just gone home.To Marcus Moore the situation looked desperate. Marcus 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. After work he would confide in his wife, Jamie, 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.Marcus would stare off for a moment and then close 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 then a haze would cover his trucks and his vast fleet would vanish to leave just a few. Why couldn�t he work out how to resolve this financial problem with his business?""I know what it is,"" Marcus said. ""For way too long I've been relying solely on profits received from invoices. For too long I've been allowing our clients to let their accounts become overdue."" 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.

 

""Marcus knew his wife meant well, but he knew that he was responsible for too many people to sit idly by, waiting for the sun to peak over the clouds.The following day Marcus walked into his office with a spring in his step, determined to call each and every client who owed money to Rice Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Marcus 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. A waste of time - a waste of money - he had the best intentions, but all the while Marcus was realising just how much trouble he was in.After a half day of contacting debtors in vain - they dodged his calls or promised to call back at worst or made minimal interest-only payments at best - he was about to throw in the towel when his secretary Robertaerley knocked at his door.

 

""Marcus, can I have a word?"" she asked standing in the doorway.

 

""Sure thing Roberta, come on in."" Marcus leaned back in his chair and looked expectantly at Robertaerely.""Well Marcus, 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?"" Robertaerley asked.""It does sound 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.""Immediately?"" Marcus interrupted.""Yes, immediately,"" she continued, ""In a nutshell, it is pretty easy. We can have an expert account manager review our numbers and help us complete a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. 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.""Marcus 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.�Marcus leaned forward and reviewed the paperwork closely.""I do not know, Roberta - it just sounds too good to be true"", Marcus said quietly.""Now, now, I know, I thought the same thing. But think about it, Marcus: they've guaranteed that experts will do all the paperwork, and that will free us up to do what we should be doing - focusing on our customers in good standing, and that kind of stuff. They appear to be very flexible, Marcus,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" asked Marcus.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. It only takes 2 to 4 days for this to be figured out. ""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" Marcus said.Marcus took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Precisely�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Marcus took a moment to think about this solution, and agreed with his secretary. The clients who owed them money were long standing friends and professional resources of Rice. Marcus wasn't prepared to lose these relationships just because they were having financial issues at the moment. Marcus knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all 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 Roberta, thank you."" Roberta nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Marcus keep the shirt on his back, and possibly hers too.Marcus 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 Rice 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. Marcus was surprised: it said that his company could get up to fifty percent cash advances on load pickups. 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.""I must tell Kelly the good news,"" Marcus muttered to himself.Kelly is Marcus's son-in-law, and he really admired the ideas behind Rice, so much so that only two years before he had started his own transportation service business. Marcus knew then what struggles Kelly would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Rice was hurting, a little guy like Kelly was about to catch his death. But, maybe the answer for both of them was in freight factoring, and Marcus 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 Marcus was beginning to find his way out of the hole his debtors had created for him.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. Marcus looked back on the dismal months of life before freight factoring and almost shuddered at the thought. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

Honolulu is the capital and largest city of Hawaii, on the southeast coast of the island of Oahu. The city is legally coextensive with the county of Honolulu, which includes the entire island of Oahu and most of the Northwest Hawaiian Islands, from Nihoa to Kure Atoll, except Midway. The population of Oahu makes up 73% of the state's total population. It is situated in the central Pacific Ocean 2,397 mi west-southwest of San Francisco. Honolulu's name derives from the native words hono, meaning �a bay,� and lulu, meaning �sheltered.�Honolulu's early history was one of turbulence and coict. One of the last areas on the globe to be explored and exploited by Europeans (it was first visited by British captain James Cook in 1778), Hawaii was subject to strong pressures from many forces, including American missionaries, who arrived in 1820, and opportunistic whalers. These whalers were among those who built Honolulu originally, bringing trade, commerce, and prosperity that led to expansion into the sugar and pineapple industries.As early as 1814, Russia tried to move in, and Russian soldiers built a bastion at the harbor's edge. The British flag was raised in 1843 and French forces occupied Honolulu in 1849. Each time control was returned to the independent native kingdom without bloodshed. In 1898, a group of Americans completed a project attempted at intervals during the previous 65 years�annexation to the United States. Honolulu was incorporated as a city in 1907.The Honolulu area was bombed by Japan in a surprise attack on the unprepared U.S. naval base at Pearl Harbor on Dec. 7, 1941. This action forced the United States to enter World War II. �Remember Pearl Harbor� became a famous American wartime slogan.Hawaiian statehood in 1959 and the viability of commercial air travel to the island brought boom times to Honolulu. Tourism is the city's principal industry, followed by federal defense expenditures and agricultural exports (chiefly pineapples).

 

 

More Trucking Factoring Companies Story Articles

"

The Future of a Trucking Company, and Factoring Jim Nichols let the phone ring on his desk. He let his morning coffee cool and left his cigarette to ash itself in the tray, because he is trying to make the biggest decision ever for his trucking company. Nichols Trucking Company was at a turning point of growth and Jim had to decide if signing with a factoring company was the right way forward.

 

Jim�s father had started as an owner-operator and had grown Nichols 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 Jim�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 Jim�s hands and he wanted to live to see it in better shape for his sons.

 

To move Nichols Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. His employees needed to be paid. 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, Nichols 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. Jim 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?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. 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.

 

Jim knew he was right in his forward thinking. How would he take Nichols 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. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

He wondered about factoring - was this the answer for him? If he was being honest, he did not really understand how it all worked. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. 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. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Now it was time for Jim to do his homework. Jim 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. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

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 didn�t mind signing 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 was good money.

 

For Jim 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 Jim 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 Nichols 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, Jim 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, Jim could actually expand Nichols 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.

 

"

 

 

View Our Freight Factoring Companies Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� Jordan Hernandez asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Jordan smiled at him, shaking her head.�Not quite,� she said.Jordan Hernandez 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 Chester. He named his business Morrison Trucking, named after Clyde and Ronnie, his two grandfathers. Both of these men had been very hardworking and had set a great example for Chester.Disaster had struck half a year ago, when two trucks in Chester�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. The financial security of Chester's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Jordan had on hand.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

You could go a month or more before bills were completely paid off. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Jordan 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. Her name was Violet and she worked for a factoring company. Jordan 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 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.Jordan nodded. It sounded good to him, almost too good.The woman laughed. �You look like you don�t believe me,� she said.�Oh no, I do: it just sounds too good to be true. I actually thought I might end up losing my business.�Violet smiled, agreeing. �Yes, we get a lot of that. Listen, I�d hate to see you lose your company. We know how hard you work, and that you've invested everything in your business. Sometimes you need help. That's why we do what we do.""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,� Violet said with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Jordan completed the form, with Violet offering advice as needed.

 

The completed profile gave Violet and her company all the information they needed on Chester'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. As Jordan completed his form, Violet listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Violet took it and slid it into her briefcase. She then stood, reached across the desk and shook Chester�s hand. He stood before they shook as well, and then smiled. Jordan walked Violet 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 shut his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. Talking to Violet 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 terrifying panic attacks that occurred regardless of 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 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. At twenty-two and straight out of school he had opened a restaurant. It had been really successful. Home cooking in his hometown, and he had done very well.But he had gotten bored. 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 Morrison Trucking. So he did it. For the second time in his short life he created a company from the ground up. The business had been an instant success.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was about to turn fifty. He didn�t think he had it in him, to save this company. But giving up wasn't part of his personality either.

 

The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He did not want to quit - both for himself and for his staff members.And now it seemed as though he would not have to - all because of Factoring. Chester's eyes opened, he sat forward in his chair and turned on his computer. He had lots to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

Why Truck Firms Use Factoring Companies.

 

As the manager of your own business enterprise, you may likely be much more than aware already of the hardship in making sure that capital matters do not become a problem down the line. Anyway, the most awful thing that can in all probability happen for your establishment is to find yourself embroiled in a long and tough situation that leaves you forever searching for the cash you are in need of on an recurring basis.

 

For just about any business enterprise in this predicament, the problem can come for waiting for work to lapse and actually be settled into your bank account. Invoices, checks, and the like can take some time to actually to beprocessed which can certainly leave you with momentary cash flow problems. Thankfully, there are options out there for firms to check out-- and one of these is factoring agencies.

 

Factoring agencies will, in trade for your accounts, provide you with the finances right away so you do not need to worry about the lingering time frame which could make paying off the bills and purchasing materialsmore challenging. With this sort of system, invoice factoring can come to be extraordinarily practical for a lot of firms who ought to get out of a cash trap which they have gotten themselves in.

 

Because, basing on the scale of the project, it can take up to 60 days for some establishments to get paid then it is crucial to take care of your own back and certainly not leave yourself resources short to pay off the costs. After all, how many companies possess two months income just occupying there to pay for all their costs till they get paid?

 

This is specifically correct of trucking establishments. They tend to manage great deals of invoices which means a notable volume of collection period involves company owner themselves. Trying to get paid promptly can end up being an amazing difficulty and this is precisely why you make use of trucking factoring agencies who are thrilled to help out truckers exclusively.

 

As all of us understand, trucking is an unbelievably huge industry with numerous companies out there handling hundreds of drivers. Regrettably, quite a few of these drivers land up in income troubles because they are still waiting on work from six weeks previously to actually pay them. When this is the situation for a trucking company, turning to factoring providers for support might be the most recommended option left.

 

This indicates that a trucking organization can pay out the paychecks of the personnel, keep all the vehicles loaded with fuel and continue to surmount, flourish and expand without constantly waiting for the money which is taking too long to come in. Trucking Enterprises functioning without a factoring system established are leaving themselves at considerable threat, as competitions cash out quickly and continue to develop.

 

There's honestly not a thing to be worried about when it comes to working with a Factoring business-- they usually are not like a bank or somebody who is going to leave you with a substantial stockpile of personal debt to repay. You give them genuine invoices from output you have already completed , you are only quickening the repayment process.

 

In the United States, where truck firms grow, factoring companies are not considered accepting loan of in any capacity. This private agreement then makes it possible for both parties to make money and take joy in a convenient future-- it provides the factoring provider a secured asset of money to include in the list and it furnishes the trucking firm the required money that they sweated to generate.

 

The trucking firm gives their invoices to the factoring establishment. The trucking factoring agency then obtain the payments from the trucking company's clients. Factoring has been in existence for hundreds of years and has been adopted for several years by plenty of various markets-- but none more so than truckers. While you might possibly miss out on a small part of the money, something like 1-3 % depending on who you partner with, it means that you are acquiring the funds today and can actually start off putting the resources to operate.

 

After all, an IOU or an invoice is certainly not going to finance overheads, is it? For trucking establishments when the funds can be good one day and gone the next, it is up to the vehicle drivers to work smartly and to ensure they are leaving themselves with a substantial amount of time and money to get through the week up until they are compensated once again.

 

So the next occasion your trucking company is having some temporary capital concerns and you are spending an excessive amount of time chasing slow paying clients, why not start off taking into consideration making use of a factoring businesses as a method to get your money and give yourself a more worry-free future in the eyes of your trucking workers and your bank difference?

 

 

 

 

 

 

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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. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Once the loan is paid off, you can then apply for another loan if the need arises.

 

What Are 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. 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.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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

 

1. There is no debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. 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. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This 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. You'll receive the 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.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 you do not have to worry about monthly loan repayments, and you do not have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a 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.

 

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

 

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