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Will You Help me Get Money? - Our Factoring Company Can Provide
Your Freight Company The Money You Want

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Factoring invoices is helpful for numerous factors. It enables a truck company to raise cash without getting new financial obligation. While financial obligation is in some cases essential, most truck companies would prefer to raise money without obtaining cash. Debt is high-risk, and when it cannot be repaid, assets can be repossessed. If the financial obligation is huge enough, it might even force a freight brokerage out of business.

 

 

 

 

 

 

 

Six Types of Companies - Which Group Are You In? - Pick The Best Factoring Company Instead Of A Regular Bank Funding

Exactly how to Increase Cash Flow Without Loaning -Cash Money flow is one of the main reasons businesses fail.

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

Money flow does not have to be a problem any ever more. Do not be fooled -- banks are not the only places you can get funding. Other solutions are available and you do not have to borrow. Exactly what is truck factoring ? One option is called trucking factoring. Truck Factoring is the procedure of offering invoices to a financier rather than waiting to collect the cash from the customer. Oh, the Irony- Trucking factoring has a paradoxical distinction: It is the financial backbone of numerous of America's most effective businesses. Why is this paradoxical ? Because receivable loan funding is not taught in business colleges, is rarely mentioned in company strategies and is fairly unidentified to the majority of most of American business individuals.

Yet it is a financial procedure that releases up billions of dollars every year, enabling thousands of businesses to grow and prosper. Accounts Receivable Factoring has been around for countless years. Receivable Loan Financing 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 client has actually to pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business transactions, a big percentage of the retail company utilizes a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail transactions. Using the purest meaning of the word, these big consumer finance companies are truly simply large Truck Factoring Companies of customer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The shop makes money almost instantly, even though you do not pay up until you are prepared.

For this service, the charge card business charges Sears a charge (typical common normal charges vary from 2 to 4 percent of the sale). The Advantages Receivable Funding can provide many advantages to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on a product that has already been delivered, a company can factor (sell) its receivables for cash at a little price cut off the amount of the invoice. Payroll, advertising efforts, and working capital are just a few of the company needs that can be satisfied with instant  money.

Receivable Funding provides the means for a producer to renew stock and make more products to offer: There is no longer a requirement to wait for earlier sales to be paid. FACTORING is not just a money management device for manufacturers: Almost any type business can take advantage of Trucking Factoring. Generally, a business that extends credit will have 10 to 20 percent of its yearly sales tied up in invoices at any given time. Think for a moment about how much is bound in 60 days' worth of invoices: You can not pay the power expense or this week s payroll with a customer s invoice, however you can sell that invoice for the money to meet those responsibilities. Using truck factoring companies is a quick and simple procedure. The factoring company purchases the invoice at a discount, typically a few portion points less than the face value of the invoice.

 

 

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The U.s. Trucking Association
mentions that there are about
200,000 truck drivers with transportation
firms and
276,000 private service providers trucking
companies licensed to
run in the States that transferred,
according to their latest listings of millions of
items, materials and
basic materials .
There are several typical
carriers either going solo or in
groups on our country
roads transporting these
vital products to our
stores, manufacturing facilities and shipping ports.

And freight bill factoring
businesses help
many of them and offer their
factoring services
countrywidecomprising
including the following states.

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

 

Laredo is the county seat of Webb County, Texas, United States, located on the north bank of the Rio Grande in South Texas, across from Nuevo Laredo, Tamaulipas, Mexico. According to the 2010 census, the city population was 236,191 making it the tenth most populous city in the state of Texas and 3rd most populated on the United States-Mexican border, after San Diego and El Paso. Its metropolitan area is the 178th-largest United States metropolitan area and covers all of Webb county, with a population of 250,304. Laredo is part of the Laredo-Nuevo Laredo Metropolitan Area with an estimate population of 636,516.Laredo's economy is based on international trade with Mexico. Most major transportation companies have a facility in Laredo. The city's location on the southern end of I-35 close to the manufacturers in northern Mexico promotes its vital role in trade between the two nations. Laredo International Airport is within the Laredo city limits, while the Quetzalcoatl International Airport is nearby in Nuevo Laredo on the Mexican side.Laredo has the distinction of flying seven flags (the Flag of the Republic of the Rio Grande in addition to the of Texas). Founded in 1755, Laredo grew from a villa to the capital of the brief Republic of the Rio Grande to the largest inland port on the United States-Mexican Border. Today, it has four international bridges and one railway bridge.Laredo has a professional soccer team, the Heat; baseball team, the Laredo Lemurs; and a women's full contact football team, the Laredo Roses. Texas A&M International University and Laredo Community College are located in Laredo.The biggest festival, Washington's Birthday Celebration is held all month long during February, attracting hundreds of thousands of tourists. The Jalape�o Festival, Border Beer Fest, Stockmen's Ball, Princess Pocahontas Pageant, Mr. South Texas Luncheon, an air show, and two major parades are all held in conjunction with the Washington's birthday events.

 

 

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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:

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.

 

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

 

Click below to find Trucking Companies in the United States:

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

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

 

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

 

 

"

Since the mid 1980s Fields Truck & Haul have been successfully running their freight business. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the heady times from 2002 to 2007, Fields was a top rated accounts receivable mastermind of 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.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed to a crawl

 

. And worse yet, Fields 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 Fields, Marc Elliott, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. There was a growing list of clients who now owed them back debt.He had already been to the administrators to ask what the actual problem was. Were they doing things different, or wrong, when it came to collecting overdue 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 Fields money had jumped ship and decided to leave him holding the bag.

 

. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Fields hadn't gone elsewhere. The had just gone!.This current state-of-affairs was causing Marc Elliott to have some very restless nights. There were goods to ship, employees to pay, trucks to repair and maintain, and continuous overheads that were very extensive when compared to the funds (or lack of) that were incoming. After work he would confide in his wife, Vicki, and neither were unable to stop the constant worry over the lack of funds.""I have a bad feeling, Lin,"" he would say with deep woe.""What could you do differently?"" she would say.Marc 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. What could cause this ultimate death spiral of business?""I know what it is,"" said Marc. ""I've relied too long on the profits I receive from invoices alone. For too long I've been allowing our clients to let their accounts become overdue."" All Vicki could do was hold his hand and look at him tenderly. 'We know it is a difficult economy at the moment - perhaps it will take a while for people to get on top of their bills'.""Vicki was trying so hard to support her husband in these worrying times, while Marc was weighed down with the worry of how he was going to handle this situation he found himself in.The next day Marc strolled into his office and was determined to sit down and make every phone call to every client who had owed Fields money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Marc 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. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. A waste of time - a waste of money - he had the best intentions, but all the while Marc 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 Rebeccaerley knocked at his door.

 

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

 

""Sure thing Rebecca, come on in."" Marc leaned back in his chair and looked expectantly at Rebeccaerely.""Well Marc, this afternoon I did some research, trying to work out how we are going to get out of this mess."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard the word factoring?"" she asked.""It does sound vaguely familiar. What is it?"" he said.She began, ""Well, it is really very simple. So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Immediately?"" Marc interrupted.""Yes, immediately,"" she continued, ""In a nutshell, it is pretty easy. We start by having a professional account manager review our figures and help us set up a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. 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.""Marc replied cautiously ""I see - and what happens then?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

This company tells us what the cost will be to purchase factoring for our accounts receivable. Once we arrive at a mutual agreement, the funding begins.�Leaning forward, Marc studied the documents very closely.""It sounds too good to be true, Rebecca,"" he said.""Yes, I know; that's exactly what I thought at the beginning. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. And they're flexible Marc,"" she underlined a paragraph on the paper before him.""How flexible?"" he asked.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. Apparently they can figure this all out in two to four days.

 

""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. 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 Marc.He took a deep breath and looked at his secretary with something she recognized as hope.""Precisely�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Marc thought about this and agreed with Rebeccaerley. The customers who were in debt to Fields Truck & Haul were professional resources of the company, but they were also long-standing friends. Marc 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. 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.""Let me go over this tonight Rebecca, and thankyou."" Rebecca nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Marc 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 Fields Truck & Haul with? With his pencil gliding down the sheet he noticed that the factoring company could help fray the cost of fuel with fuel discount cards and fuel advances. Marc 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.""Well, I'll have to tell Norman about this,"" Marc muttered to himself.His son-in-law Norman had liked the idea of Fields so much and revered his father in law for having such business acumen that only two years before, he had gathered the venture capital to begin his own transportation service company. At that time Marc knew the struggles Norman would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Fields was struggling then the little guys, like Norman, were going to be in even more trouble. But, maybe the answer for both of them was in freight factoring, and Marc was going to find out very soon.Some months later, having successfully gone through the entire process of the application, having experts study his credit history and statements and review his accounts receivable, Marc found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They used that time to refocus their efforts in being competitive in new territories. Marc recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. If Marc hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

Laredo is the county seat of Webb County, Texas, United States, located on the north bank of the Rio Grande in South Texas, across from Nuevo Laredo, Tamaulipas, Mexico. According to the 2010 census, the city population was 236,191 making it the tenth most populous city in the state of Texas and 3rd most populated on the United States-Mexican border, after San Diego and El Paso. Its metropolitan area is the 178th-largest United States metropolitan area and covers all of Webb county, with a population of 250,304. Laredo is part of the Laredo-Nuevo Laredo Metropolitan Area with an estimate population of 636,516.Laredo's economy is based on international trade with Mexico. Most major transportation companies have a facility in Laredo. The city's location on the southern end of I-35 close to the manufacturers in northern Mexico promotes its vital role in trade between the two nations. Laredo International Airport is within the Laredo city limits, while the Quetzalcoatl International Airport is nearby in Nuevo Laredo on the Mexican side.Laredo has the distinction of flying seven flags (the Flag of the Republic of the Rio Grande in addition to the of Texas). Founded in 1755, Laredo grew from a villa to the capital of the brief Republic of the Rio Grande to the largest inland port on the United States-Mexican Border. Today, it has four international bridges and one railway bridge.Laredo has a professional soccer team, the Heat; baseball team, the Laredo Lemurs; and a women's full contact football team, the Laredo Roses. Texas A&M International University and Laredo Community College are located in Laredo.The biggest festival, Washington's Birthday Celebration is held all month long during February, attracting hundreds of thousands of tourists. The Jalape�o Festival, Border Beer Fest, Stockmen's Ball, Princess Pocahontas Pageant, Mr. South Texas Luncheon, an air show, and two major parades are all held in conjunction with the Washington's birthday events.

 

 

More Trucking Factoring Companies Story Articles

"

The Future of a Trucking Company, and Factoring The phone was ringing on his desk, and Karl Stanley just sat there letting it ring. 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. Stanley Trucking Company had reached a turning point and he now had to make a decision as to whether he should sign up with a factoring company, and indeed if this would be a good or regrettable decision for his business.

 

More than forty years ago Karl's father had started this business working as an owner-operator and eventually growing Stanley Trucking Company into a fifteen trailer fleet. Yes, they had survived some very difficult times when it appeared like they might go under, and even Karl's mother had jumped into the cab at times to make hauls. His father had worked long enough to see the price of hires drop dramatically during the recession and to see the explosion of fuel prices afterwards. But now things were different: the company was in Karl's hands and he needed to ensure that this business would be left in great shape for his sons.

 

There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. He had employees to pay. They had families and household bills too. 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 Stanley Trucking look inefficient and weak in what was currently a strong market.

 

His father would have told him to wait and to take his time adding on new technology. Karl chuckled, thinking about his father. He remembered when his father was totally against installing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). 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.

 

Karl knew he was right in his forward thinking. How would he take Stanley 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. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Now it was time for Karl to do his homework. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

But it turned out to be quite easy. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He was quite happy to sign an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he 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. 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. He was more than happy with the figures he was offered in percentage terms on the freight bills. It was good money.

 

It was really refreshing dealing with the factoring people. They were more personable than those loan managers at the bank. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies didn�t worry over his credit and the debt troubles his father had had in the past of the company. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Karl because he and his father had created a very strong and loyal list of clientele over the years. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients wouldn�t think poorly of Stanley Trucking and the factoring companies appeared capable of handling the accounts receivable in the same polite manner that his father had used over the years.

 

Feeling happier now, Karl stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. With the capabilities of this new cash flow, Karl could actually expand Stanley Trucking Company further across the country and perhaps even go international into Canada. His heart felt full knowing his sons wouldn�t have to worry about money because of the right decisions he had made for their trucking business.

 

"

 

 

View Our Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So, this is not a loan?� asked Eugene Johnson, reclining back into his chair and crossing his legs. The woman sitting across the desk from Eugene smiled at him, shaking her head.�Not quite,� she said.Eugene Johnson 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 Ruben. He named his business Cooper Trucking, named after Danny and Ron, his two grandfathers. Both of these men had been very hardworking and had set a great example for Ruben.Six months ago disaster struck Ruben's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. Eugene depended on his full fleet, and missing two trucks was devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.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. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Eugene wasn�t a bad owner, and he hadn�t messed up. 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.And that's why he found himself across the desk from this woman. Her name was Naomi 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.She sat there now, and explained. �it is really not a loan at all: we actually buy your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. 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.Eugene nodded. It sounded good to him, almost too good.Naomi laughed. �You look like you don�t believe me,� she chuckled.�Oh no, I do: it just sounds too good to be true. I actually thought I might end up losing my business.�Naomi smiled, agreeing. �We get that a lot. 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.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� said Naomi with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Eugene completed the form, with Naomi offering advice as needed.

 

The profile filled Naomi and her company in on Ruben�s company, and would help them determine if he was 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 Eugene completed his form, Naomi listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Naomi took it and slid it into her briefcase. Standing up, she reached over the desk and shook Ruben's hand. He also stood up, and they smiled at each other. Eugene walked Naomi to the door where they said 'Goodbye', then he went back into his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He shut his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. But now, after speaking to Naomi and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.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 knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.His mind wandered back to the very beginning, when he first started his business. At twenty-two and straight out of school he had opened a restaurant. It had been successful. Offering home cooking in his own hometown, his business had really prospered.But he had gotten bored. 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 Cooper 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 nearing fifty. He was concerned that he just did not have the energy left to try and save the business. But giving up wasn't part of his personality either.

 

Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically 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. Ruben's eyes opened, he sat forward in his chair and turned on his computer. He had lots to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

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More Trucking Factoring Company Story Articles

The reason why Trucking Corporations Work with Factoring Companies.

 

As the owner of your own establishment, you may well be much more than conscious already of the hardship in making sure that capital issues do not become a problem down the line. After all, the toughest thing that can potentially transpire for your enterprise is to find yourself dragged in a long and challenging condition that leaves you forever searching for the finances you need to have on an recurring basis.

 

For virtually any firm in this scenario, the concern can come for waiting for work to clear up and actually be settled into your account. Invoices, checks, and the like can take a while to actually to be taken care of which could leave you with temporary capital dilemmas. The good news is, there are opportunities out there for businesses to consider-- and one of these is factoring companies.

 

Factoring agencies will, in trade for your bill of sales, supply you with the resources asap in order that you do not need to stress over the waiting time frame which could make paying the expenses and acquiring toolsmore tough. With this sort of system, invoice factoring can come to be extraordinarily beneficial for countless businesses who ought to avoid a money lure which they have found themselves in.

 

For the reason that, depending on the volume of the work, it can take up to 60 days for many business enterprises to get paid out then it is important to take care of your own back and definitely not leave yourself money short to pay the expenses. After all, how many business enterprises possess two months income just lying there to address all their bills until they earn?

 

This is specifically true of trucking firms. They have the tendency to take care of bunches of invoices which means a notable quantity of collection period entails business owner themselves. Trying to get paid off promptly can develop into an unbelievable difficulty and this is precisely why you utilize trucking factoring firms who are thrilled to help out truckers specifically.

 

As most of us recognize, trucking is an remarkably huge market with a lot of companies out there employing hundreds of vehicle drivers. However, numerous of these drivers land up in income issues because they are still anticipating work from six weeks in the past to actually compensate them. When this is the case for a trucking organization, choosing factoring agencies for reinforcement could be the very best option left.

 

This indicates that a truck company can compensate the salaries of the personnel, keep all the cars refilled with gas and continue to go up, evolve and expand without constantly waiting for the money which is taking too long to come in. Trucking Businesses running without a factoring system established are leaving themselves at notable hazard, as rivals cash out fast and carry on to expand.

 

There's genuinely almost nothing to be troubled about when it comes to employing a Factoring agency-- they usually are not like a banking company or someone who is going to leave you with a massive pile of personal debt to repay. You give them legitimate invoices from work you have already wrapped up , you are only speeding up the payment system.

 

In the Usa, where trucking agencies thrive, factoring providers are not considered taking on loan in any capacity. This private agreement then makes it possible for both groups to benefit and indulge in a good future-- it gives the factoring firm a secured asset of earnings to put into the list and it supplies the trucking firm the required funds that they sweated to obtain.

 

The trucking company gives their accounts to the factoring enterprise. The trucking factoring business then acquire the payment amounts from the trucking company's customers. Factoring has been all around for hundreds of years and has been used for several years by a lot of various industries-- but none exceeding so than truckers. While you may lose out on a small part of the money, something like 1-3 % depending upon who you collaborate with, it implies that you are receiving the resources today and can actually start off setting the money to perform.

 

After all, an IOU or an invoice is certainly not going to fund costs, is it? For trucking agencies when the money can be very good one day and gone the next, it is up to the drivers to work sensibly and to ensure they are leaving themselves with a significant quantity of time and money to get through the week up until they are compensated once more.

 

So the next time your trucking company is having some temporary capital issues and you are spending a bit too much time chasing sluggish paying customers, why not start looking at employing a factoring businesses as a means to get your money and give yourself a more worry-free future in the eyes of your trucking staff and your bank balance?

 

 

 

 

 

 

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Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. While these loans are handy they are not available to every business. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. 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.

 

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. 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 money you can receive is based on the amount of money you have earned and the accounts receivable you are willing 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. There is no debt. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. 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. 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. 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. Receive Your Money Faster. Using a Trucking Factoring company means that you'll get the finance quicker. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.You receive interest up-front. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you do not have to continue to pay interest as they take it right off the top, deducting it from the total amount of accounts receivable. So 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. 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. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very efficient at debt collecting, and this frees up your valuable time to devote to running your company.

 

In addition, since the Trucking Factoring company evaluates the credit quality of your customers prior to purchasing the accounts receivable you gain valuable information into which customers are likely to pay and which ones are not so likely to pay.A Trucking Factoring company is not the only method of gaining access to finance for the running and growing of your business, however it does offer a financing option well worth considering.

 

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