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How To Get Rich With - Our Receivable Financing Company Can Give
Your Trucking Company The Cash Your Company Needs

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Invoice Factoring is useful for a number of factors. It enables a trucking company to raise cash without acquiring new financial obligation. While debt is often needed, the majority of truck companies would choose to raise cash without obtaining money. Financial obligation is high-risk, and when it can not be repaid, properties can be repossessed. If the debt is big enough, it could even force a truck companies out of business.

 

 

 

 

 

 

 

The Instrument of Profitable Companies - Pick An Invoice Factoring Company Instead Of A Typical Bank Financing

Exactly how to Increase Money Flow Without Borrowing -Cash Money flow is one of the primary reasons companies fail.

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

Money flow does not have to be an issue any more. Do not be fooled -- banks are not the only places you can get funding. Other options are available and you do not have to borrow money. Exactly what is trucking factoring ? One option is called trucking factoring. Trucking Factoring is the procedure of selling invoices to an investor rather than waiting to collect the money from the customer. Oh, the Irony- Truck factoring has a paradoxical difference: It is the monetary foundation of many of America's most successful businesses. Why is this ironic ? Since receivable financing is not instructed in business colleges, is seldom mentioned in business strategies and is fairly unidentified to bulk of most of American business individuals.

Yet it is a monetary process that releases up billions of dollars every year, enabling thousands of companies to grow and succeed. Factoring has actually been around for countless years. Staffing Factoring Businesses are financiers who pay cash for the right to receive the future payments on your invoices. An overdue receivable or invoice has value. It is a debt your customer has actually agreed pay in the near future. Factoring Principals--Although factoring deals solely with business-to-business deals, a large percentage of the retail company utilizes a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail deals. Using the purest definition of the word, these large consumer finance business are truly simply big Factoring Companies of customer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The shop makes money almost immediately, although you do not pay until you are prepared.

For this service, the credit card company charges Sears a fee (typical common normal fees range from two to 4 percent of the sale). The Benefits Staffing Factoring can offer many benefits to cash-hungry companies. Instead of waiting 30, 60, 90 days or longer for payment on a product that has actually already been provided, 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 business requirements that can be satisfied with instant  cash.

Truck Factoring offers the ways for a producer to replenish inventory and make more items to sell: There is no longer a requirement to await for earlier sales to be paid. FACTORING is not just a money management device for manufacturers: Almost any type business can benefit from Trucking Factoring. Generally, a business that extends credit will have 10 to 20 percent of its yearly sales bound in invoices at any given time. Think for a minute about exactly how much is tied up in 60 days' worth of invoices: You can not pay the power expense or this week s payroll with a customer s invoice, however you can sell that invoice for the cash to satisfy those responsibilities. Using trucking factoring companies is a fast and simple process. The factoring company buys the invoice at a price cut, usually a few percentage points less than the face value of the invoice.

 

 

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The United states Transportation Association
specifies that there are about
195,000 workers with truck
companies and
300,000 personal service providers trucking
firms certified to
run in the U.S. that carried,
according to their most current searchings for billions of
products, materials and
basic products .
There are a number of typical
carriers either going solo or in
teams on our country
roads transporting these
important products to our
shops, factories and ports.

Plus freight bill factoring
firms aid
countless of them and offer their
receivables financing facilities
nationwidecomprising
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

 

"

Corpus Christi is a coastal city in the South Texas region of the U.S. state of Texas. The county seat of Nueces County, it also extends into Aransas, Kleberg, and San Patricio counties. The metropolitan area US Census estimated population in 2013, was 442,600. The population was 316,381 at the 2013 US Census estimate, making it the eighth most populous city in the state of Texas. It is the principal city of the tri-county Corpus Christi metropolitan area, as well as the larger six county Corpus Christi-Kingsville-Alice Combined Statistical Area, with a 2013 Census estimate at 516,793. The translation from Latin of the city's name (Corpus Christi) means Body of Christ. The name was given to the settlement and surrounding bay by Spanish explorer Alonso �lvarez de Pineda in 1519, when he discovered the lush semi-tropical bay on the feast day celebrating the ""Body of Christ."" The city has the nicknames ""Texas Riviera"" and ""Sparkling City by the Sea"", particularly in literature promoting tourism.The city is home to the Port of Corpus Christi, the fifth largest in the United States, and is served by the Corpus Christi International Airport.The majority of the population is employed in the Services, Wholesale and Retail Trades and Government sectors. Corpus Christi has an unemployment rate of 7.0% as of July 2012.The Port of Corpus Christi, which is the fifth largest U.S. port and deepest inshore port on the Gulf of Mexico, handles mostly oil and agricultural products. Much of the local economy is driven by tourism and the oil & petrochemicals industry. In 2005, the Port was ranked as the 47th largest in the world by cargo tonnage.Corpus Christi is home to two installations of the United States military: the Corpus Christi Army Depot, and Naval Air Station Corpus Christi. Combined, these installations provide 6,200 civilian jobs to the local economy, making them the single largest employer in the city. Corpus Christi Army Depot, located on NAS Corpus Christi, is the largest helicopter repair facility in the world. A third military installation, also located on NAS Corpus Christi, is the United States Coast Guard Sector/Air Station Corpus Christi.Corpus Christi is the original home of the headquarters of Whataburger, a fast food restaurant operator and franchiser with 650 stores in ten states and Mexico; however, the company relocated its headquarters to San Antonio in 2009. Other large employers include CHRISTUS Spohn Health System at 5,400 local employees, the Corpus Christi Independent School District with 5,178, H-E-B at 5,000, and Bay Ltd. at 2,100. Other companies based in Corpus Christi include Stripes Convenience Stores and AEP Texas.Corpus Christi became the first major city to offer city wide free wi-fi[when?] in order to allow remote meter reading after a meter reader was attacked by a dog. In 2007, the network was purchased by Earthlink for $5.5 million, and stopped being a free service on May 31, 2007Corpus Christi (k�r'p?s kris'te) [key], city (1990 pop. 257,453), seat of Nueces co., S Tex.; inc. 1852. It is a port on Corpus Christi Bay at the entrance to Nueces Bay (at the mouth of the Nueces River). The city is an oil and gas center, with refineries, smelters, chemical works, and food-processing plants, as well as large seafood, fishing, and health-care industries. Sports-fishing facilities, beaches, and a mild climate make Corpus Christi a tourist and convention center, and it is the gateway to Padre Island National Seashore. Tradition holds that the bay was named by the Spanish explorer Alonzo Alvarez de Pineda, who found it on Corpus Christi Day in 1519, but there is evidence that it was named instead by the first settlers, who arrived from the lower Rio Grande valley in the 1760s. In 1839, Col. H. L. Kinney founded a trading post, and traders and adventurers collected in a raffish colony on land claimed by both Texas and Mexico. The small port and terminus for overland wagon-train traffic boomed during the Mexican War. It was briefly captured by the U.S. navy in the Civil War. Corpus Christi developed industrially after the discovery of oil in the area and the completion (1926) of a deepwater channel past Mustang Island.The city has many historical sites and is the seat of Texas A&M Univ.�Corpus Christi. A naval air station is on the southern shore of the bay. The city has suffered from occasional hurricanes; it is partially protected from flooding by a sea wall 12,300 ft (3,749 m) long, built between 1939 and 1941.

 

"

 

View Our Factoring YouTube Video 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:

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

 

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

 

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

 

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.

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.

 

 

"

Reyes Truck and Haul has been in business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the boom times from 2002 to 2007 Reyes 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. The money was flowing, and times were great.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed to a crawl

 

. Worse still, it was noticed by Reyes in early 2008 that even though most of their loyal customers were on time with their payments, there were a few late bloomers who were starting to spread the disease. Spring changed to summer, summer changed to fall, and the CEO of Reyes, Alexander Williamson, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The numbers of clients who owed him back debt were growing.He had gone to his administrators and asked them what the problem had been. Were they doing things different, or wrong, when it came to collecting overdue accounts? By his bookkeepers records, this wasn't 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 Reyes money had jumped ship and decided to leave him holding the bag.

 

. They could not afford to pay him their debt, but they could afford a lesser service, maybe. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Reyes hadn't gone elsewhere. The had just gone!.This current state-of-affairs was causing Alexander Williamson to have some very restless nights. Alexander 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, Debbie, 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.""What could you do differently?"" she would ask.Alexander would stare off into the distance, and then slowly close his eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them traveling, bringing goods to all of his clients. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What on earth was happening to create the death of his business?""I think I know what it could be,"" Alexander said. ""For way too long I've been relying solely on profits received from invoices. I've let too many of our customers go too long without paying on their bills."" Debbie would look at her husband lovingly, and holding his hand would say 'it is such a harsh economy these days and our clients must be having difficulty meeting their responsibilities'.""Debbie was trying so hard to support her husband in these worrying times, while Alexander was weighed down with the worry of how he was going to handle this situation he found himself in.The next day Alexander strolled into his office and was determined to sit down and make every phone call to every client who had owed Reyes money. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. Wasting money, wasting time - even with the best of intentions, Alexander knew that he was in trouble.

 

Poor Alexander spent the whole morning trying in vain to contact his debtors: they promised to call back, dodged his calls, or made small interest-only payments. He was beginning to feel quite despaired when his secretary knocked on his door.

 

""Can I have a word with you Alexander?"" she queried, standing in the doorway.

 

""Of course Lauren, please come in."" Alexander leaned back in his chair and looked expectantly at Laurenerely.""Well Alexander, 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 the word factoring?"" she asked.""It does sound vaguely familiar. What is it?"" he said.She began, ""Well, it is really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Immediately?"" Alexander interrupted.""Yes, immediately,"" she continued, ""it is actually very simple. We start by having a professional account manager review our figures and help us set up a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.""Alexander 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.�Alexander was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Lauren,"" he said.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Alexander: 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, Alexander,"" 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. It only takes 2 to 4 days for this to be figured out. ""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" said Alexander.Alexander took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Alexander thought about this and agreed with Laurenerley. The customers who were in debt to Reyes Truck & Haul were professional resources of the company, but they were also long-standing friends. Alexander wasn't prepared to lose these relationships just because they were having financial issues at the moment. Alexander knew only too well that the whole economy was floundering, and that it was not going to change overnight. That unknown amount of time could create a disaster situation for both of them if he wasn't careful in how these debtors were handled. Of course he did not want to lose any more money, but he did not want to lose business either.""Let me go over this tonight Lauren, and thankyou."" Lauren nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Alexander keep the shirt on his back, and possibly hers too.Alexander sat behind his desk and looked over the details Lauren had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Reyes Truck & Haul with? With his pencil gliding down the sheet he noticed that the factoring company could help fray the cost of fuel with fuel discount cards and fuel advances. In fact, Reyes could receive up to fifty-percent cash advances upon load pick-ups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""I must tell Joel the good news,"" Alexander muttered to himself.His son-in-law Joel had liked the idea of Reyes 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. Alexander knew then what struggles Joel would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Reyes was struggling then the little guys, like Joel, were going to be in even more trouble.

 

But, maybe the answer for both of them was in freight factoring, and Alexander 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 Alexander 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 took that time and refocused effort to offering competitive prices in new territories. Alexander recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. If Alexander hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

"

Corpus Christi is a coastal city in the South Texas region of the U.S. state of Texas. The county seat of Nueces County, it also extends into Aransas, Kleberg, and San Patricio counties. The metropolitan area US Census estimated population in 2013, was 442,600. The population was 316,381 at the 2013 US Census estimate, making it the eighth most populous city in the state of Texas. It is the principal city of the tri-county Corpus Christi metropolitan area, as well as the larger six county Corpus Christi-Kingsville-Alice Combined Statistical Area, with a 2013 Census estimate at 516,793. The translation from Latin of the city's name (Corpus Christi) means Body of Christ. The name was given to the settlement and surrounding bay by Spanish explorer Alonso �lvarez de Pineda in 1519, when he discovered the lush semi-tropical bay on the feast day celebrating the ""Body of Christ."" The city has the nicknames ""Texas Riviera"" and ""Sparkling City by the Sea"", particularly in literature promoting tourism.The city is home to the Port of Corpus Christi, the fifth largest in the United States, and is served by the Corpus Christi International Airport.The majority of the population is employed in the Services, Wholesale and Retail Trades and Government sectors. Corpus Christi has an unemployment rate of 7.0% as of July 2012.The Port of Corpus Christi, which is the fifth largest U.S. port and deepest inshore port on the Gulf of Mexico, handles mostly oil and agricultural products. Much of the local economy is driven by tourism and the oil & petrochemicals industry. In 2005, the Port was ranked as the 47th largest in the world by cargo tonnage.Corpus Christi is home to two installations of the United States military: the Corpus Christi Army Depot, and Naval Air Station Corpus Christi. Combined, these installations provide 6,200 civilian jobs to the local economy, making them the single largest employer in the city. Corpus Christi Army Depot, located on NAS Corpus Christi, is the largest helicopter repair facility in the world. A third military installation, also located on NAS Corpus Christi, is the United States Coast Guard Sector/Air Station Corpus Christi.Corpus Christi is the original home of the headquarters of Whataburger, a fast food restaurant operator and franchiser with 650 stores in ten states and Mexico; however, the company relocated its headquarters to San Antonio in 2009. Other large employers include CHRISTUS Spohn Health System at 5,400 local employees, the Corpus Christi Independent School District with 5,178, H-E-B at 5,000, and Bay Ltd. at 2,100. Other companies based in Corpus Christi include Stripes Convenience Stores and AEP Texas.Corpus Christi became the first major city to offer city wide free wi-fi[when?] in order to allow remote meter reading after a meter reader was attacked by a dog. In 2007, the network was purchased by Earthlink for $5.5 million, and stopped being a free service on May 31, 2007Corpus Christi (k�r'p?s kris'te) [key], city (1990 pop. 257,453), seat of Nueces co., S Tex.; inc. 1852. It is a port on Corpus Christi Bay at the entrance to Nueces Bay (at the mouth of the Nueces River). The city is an oil and gas center, with refineries, smelters, chemical works, and food-processing plants, as well as large seafood, fishing, and health-care industries. Sports-fishing facilities, beaches, and a mild climate make Corpus Christi a tourist and convention center, and it is the gateway to Padre Island National Seashore. Tradition holds that the bay was named by the Spanish explorer Alonzo Alvarez de Pineda, who found it on Corpus Christi Day in 1519, but there is evidence that it was named instead by the first settlers, who arrived from the lower Rio Grande valley in the 1760s. In 1839, Col. H. L. Kinney founded a trading post, and traders and adventurers collected in a raffish colony on land claimed by both Texas and Mexico. The small port and terminus for overland wagon-train traffic boomed during the Mexican War. It was briefly captured by the U.S. navy in the Civil War. Corpus Christi developed industrially after the discovery of oil in the area and the completion (1926) of a deepwater channel past Mustang Island.The city has many historical sites and is the seat of Texas A&M Univ.�Corpus Christi. A naval air station is on the southern shore of the bay. The city has suffered from occasional hurricanes; it is partially protected from flooding by a sea wall 12,300 ft (3,749 m) long, built between 1939 and 1941.

 

"

 

More Trucking Factoring Companies Story Articles

"

Factoring in the Future of a Trucking Business: A Story Christopher Anderson let the phone ring on his desk. His morning coffee cooled and his cigarette smoked away in the tray: Christopher is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Anderson Trucking Company was at a turning point of growth and Christopher had to decide if signing with a factoring company was the right way forward.

 

Christopher�s father had started as an owner-operator and had grown Anderson Trucking Company into a fifteen trailer fleet over forty years. Yes, they had survived some very difficult times when it appeared like they might go under, and even Christopher'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 Christopher'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 all have families and the usual household bills. 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. He knew that turning down these requests made Anderson 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. Christopher allowed himself a good hard chuckle. His father had been against placing 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.

 

Christopher knew he was right in his forward thinking. How would he take Anderson Trucking to the next level? And how would he be able to afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

But was factoring the answer? 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. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Now it was time for Christopher 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. 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. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He didn�t mind signing an exclusive contract. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. 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.

 

For Christopher it was quite a relief to be dealing with the factoring company. They were extremely helpful and more personable than the bank staff. 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 were not interested in his credit nor the financial problems his father had experienced in the past. Factoring was based on the credit of his customers and on their reliability which worked well for Christopher because he and his father had built up good strong relationships over decades with their list of clients. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients wouldn�t think poorly of Anderson 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, Christopher 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. He suddenly realized that, with this new cash flow, he could actually expand Anderson Trucking Company and who knows, move into Canada, which had always been his dream. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

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Trucking Factoring  Articles

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�So It is not a loan?� asked Peter Cox, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�No, not exactly,� she stated.Peter Cox 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 Rodney. His company was called Ray Trucking, named after both of his grandfathers, Brian and Bernard. They had both been hardworking men, and had done a lot to make Peter the same.Disaster had struck half a year ago, when two trucks in Rodney�s fifteen truck fleet went down. One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. The financial security of Rodney's company relied on his full fleet on fifteen being on the road, and missing two trucks was just 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.Peter was an excellent business man, and he certainly hadn't done anything wrong. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.And that's why he found himself across the desk from this woman. Peter knew she was employed by a Factoring company and that her name was Elizabeth. Peter 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�s not a loan, we purchase 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.Peter agreed. 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.�Elizabeth nodded. �Yes, we get a lot of that. There's no way we want to see you lose your business. We know how hard you work, and that you've invested everything in your business. Sometimes you need help. That�s what we�re here for.""In any case, thank you for coming to see me.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Elizabeth with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Peter filled the form out, with Elizabeth available to help him if he needed it. The profile filled Elizabeth and her company in on Rodney�s company, and would help them determine if he was 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 Peter completed his form, Elizabeth listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Elizabeth took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Rodney�s hand. He stood before they shook as well, and then smiled. Peter walked Elizabeth 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 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. Talking to Elizabeth though, learning about factoring, it felt like a weight had been lifted from his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.All those long, sleepless nights. The sudden panic attacks, not matter 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.Peter couldn�t help but think back to when he had first started the business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been really successful. Home cooking in his hometown, and he had done very well.But it wasn't what he really wanted to do. 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 Ray Trucking. And that's exactly what he did. Once again he built a company from the ground up. The business had been an instant success.And then the trucks went down, and his success looked to be in flux. He was about to turn fifty. He was concerned that he just did not have the energy left to try and save the business. But he couldn�t give up. The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He 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. Rodney'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

The reason why Truck Establishments Work with Factoring Firms.

 

As the owner of your own business enterprise, you may well be much more than perceptive already of the hardship in making sure that capital concerns do not become a predicament down the line. Anyway, the toughest thing that can potentially take place for your enterprise is to find yourself swept up in a long and complicated predicament that leaves you forever searching for the finances you need to have on an continuing basis.

 

For pretty much any business enterprise in this condition, the challenge can come for waiting for work to clear up and actually be paid out into your statement. Statements, checks, and the like could take a long time to actually to be taken care of which can certainly leave you with momentary cash flow troubles. The good news is, there are options out there for enterprises to check out-- and just one of these is factoring companies.

 

Factoring agencies will, in trade for your accounts, grant you with the resources now so that you do not have to fret about the delaying time span which could make paying the bills and obtaining materialsmore tough. With this kind of system, invoice factoring can become remarkably useful for many businesses who ought to avoid a money pitfall which they have found themselves in.

 

Due to the fact that, depending upon the scale of the project, it can take up to 60 days for a number of firms to get paid out then it is very important to cover up your own back and not leave yourself resources short to settle the costs. After all, how many businesses have two months earnings just lying there to handle all their costs till they earn?

 

This is specifically true of trucking agencies. They have the tendency to manage tons of invoices which means a notable amount of collection period entails business owner themselves. Seeking to get compensated in time can turn into an extraordinary struggle and this is why you make use of trucking factoring companies who are happy to help out truckers specifically.

 

As we all recognize, trucking is an exceptionally massive field with plenty of companies out there hiring hundreds of vehicle drivers. Regrettably, many of these drivers land up in income problems because they are still awaiting work from six weeks previously to actually pay them. When this is the circumstance for a trucking company, choosing factoring providers for support maybe the very best option left.

 

This signifies that a truck firm can pay off the salaries of the crew, keep all the trucks refilled with fuel and continue to escalate, thrive and expand without consistently waiting for the finances which is taking too lengthy to come in. Trucking Firms running without a factoring program applied are leaving themselves at substantial threat, as competitions cash out fast and go on to develop.

 

There's absolutely not much to be troubled about when it comes to making use of a Factoring establishment-- they typically are not like a financial institution or a person who is going to leave you with a significant stack of debt to pay back. You give them legitimate invoices from job you have already finalized , you are only just speeding up the repayment system.

 

In the United states of America, where trucking companies prosper, factoring companies are not considered taking on loan in any capacity. This private contract then lets both groups to benefit and take joy in a comfortable future-- it provides the factoring business a secured resource of revenue to put into the list and it supplies the trucking business the required money that they sweated to obtain.

 

The trucking establishment gives their accounts to the factoring company. The trucking factoring business then receive the payment amounts from the trucking company's customers. Factoring has been all around for hundreds of years and has been employed for several years by plenty of different sectors-- but none more so than truckers. While you may well lose out on a small part of the money, something like 1-3 % depending upon who you deal with, it means that you are obtaining the finances today and can actually start off setting the funds to do work.

 

After all, an IOU or an invoice is absolutely not going to fund expenses, is it? For trucking establishments when the finances can be really good one day and gone the next, it is up to the drivers to work smartly and to make sure that they are leaving themselves with a notable amount of time and finance to get through the week until they are handed over once more.

 

So the next occasion your trucking business is having some temporary capital concerns and you are spending an excessive amount of time chasing slow paying customers, why not start off considering employing a factoring businesses as a manner to get your finances and give yourself a more comfortable 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. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Once the loan is paid off, you can then apply for another loan if the need arises.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. 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 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.

 

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

 

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

 

1. You will not Incur Debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. 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. There's no collateral required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This means that it is easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.

 

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

 

4.You receive interest up-front. With a bank loan interest continues to build, and this has to be paid the whole time you have a business loan; however with a Trucking Factoring company there is no interest - they take it right off the top by deducting it from the total amount of receivable accounts. So not only are you relieved of those monthly loan payments, but you also do not have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The most important benefits is that once you sell your accounts receivable to the factory company, you do not have to take time away from running your business to collect the money owed from reluctant to pay customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very efficient at debt collecting, and this frees up your valuable time to devote to running your 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.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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