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Take This One Minute Test - Our Invoice Factoring Company Can Provide
Your Freight Company The Cash You Need

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Factoring invoices is advantageous for a number of factors. It enables a trucking company to raise money without acquiring brand-new financial obligation. While financial obligation is occasionally required, the majority of freight brokerage would like to raise money without borrowing money. Debt is high-risk, and when it cannot be paid back, properties can be repossessed. If the financial obligation is large enough, it may even require a trucking companies out of business.

 

 

 

 

 

 

 

Imagine Holding Your banker Spellbound for 30 Minutes - Choose A Trucking�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 effective ones, have experienced bad money flow.

Money flow does not have to be an issue any more. Do not be deceived -- banks are not the only places you can get funding. Other options are available and you do not have to borrow. What is truck factoring ? One solution is called truck factoring. Trucking Factoring is the process of offering invoices to a financier rather than waiting to gather the cash from the client. Oh, the Irony- Trucking factoring has a paradoxical difference: It is the financial foundation of many of America's most effective businesses. Why is this ironic ? Because factoring is not instructed in business colleges, is rarely mentioned in company plans and is relatively unknown to bulk of most of American company individuals.

Yet it is a monetary procedure that releases up billions of dollars every year, enabling thousands of companies to grow and prosper. Staffing Factoring has been around for thousands of years. Invoice Factoring Companies are financiers who pay money 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 to pay in the near future. Factoring Principals--Although factoring deals solely 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. Utilizing the purest definition of the word, these big customer finance business are truly just big Invoice Factoring Businesses of customer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The store makes money practically instantly, even though you do not make payment until you are ready.

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

Factoring offers the ways for a manufacturer to replenish stock and make more products to sell: There is no longer a need to await for earlier sales to be paid. Receivable Loan Financing is not simply a cash management tool for producers: Almost any kind company can take advantage of Factoring. Generally, a business that extends credit will have 10 to 20 percent of its annual sales tied up in invoices at any given time. Think for a moment about how much is tied up in 60 days' worth of invoices: You can not pay the power bill or today s payroll with a customer s invoice, but you can sell that invoice for the money to satisfy those obligations. Using truck factoring companies is a quick and easy process. The factoring company purchases the invoice at a price cut, typically a couple of portion points less than the stated value of the invoice.

 

 

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The American Transportation Organization
states that there are about
205,000 truck drivers with truck
companies and
276,000 personal service providers trucking
companies accredited to
run in the States that transported,
according to their newest data of millions
items, materials and
basic materials .
There are several usual
carriers either going solo or in
teams on our country
highways carrying these
vital items to our
stores, manufacturing facilities and ports.

Moreover trucking factoring
businesses aid
countless of them and offer their
receivables financing services
nationallycomprising
including the following states.

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

 

 

Sacramento is the capital city of the U.S. state of California and the seat of government of Sacramento County. It is at the couence of the Sacramento River and the American River in the northern portion of California's expansive Central Valley. With an estimated 2011 population of 477,892, it is the sixth-largest city in California and the 35th largest city in the United States. Sacramento is the core cultural and economic center of the Sacramento metropolitan area which includes seven counties with an estimated 2009 population of 2,527,123. Its metropolitan area is the fourth largest in California after the Greater Los Angeles Area, San Francisco Bay Area, and the San Diego metropolitan area, as well as the 27th largest in the United States. In 2002, the Civil Rights Project at Harvard University conducted for TIME magazine named Sacramento �America�s Most Diverse City.�Sacramento became a city through the efforts of the Swiss immigrant John Sutter, Sr., his son John Sutter, Jr., and James W. Marshall. Sacramento grew quickly thanks to the protection of Sutter's Fort, which was established by Sutter in 1839. During the California Gold Rush, Sacramento was a major distribution point, a commercial and agricultural center, and a terminus for wagon trains, stagecoaches, riverboats, the telegraph, the Pony Express, and the First Transcontinental Railroad.California State University, Sacramento, more commonly known as Sacramento State or Sac State, is the largest university in the city and one of 23 campuses in the California State University system. Drexel University Sacramento and the University of the Pacific McGeorge School of Law are in Sacramento. In addition, the University of California, Davis, is in nearby Davis, 15 miles (24 km) west of the capital. The UC Davis Medical Center, a world-renowned research hospital, is located in the city of Sacramento.

 

 

 

 

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

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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

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

 

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

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

 

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

 

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

 

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

 

 

"

Price 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 Price Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. Cash was flowing and times were good for all.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 down. Worse still, it was noticed by Price 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. And as spring turmed to summer and summer into the early days of fall, Jeremy Dixon, CEO of Price felt a chill go down his spine whenever he would look at the weekly A/R 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 something wrong or different when it came to reaching out to delinquent 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 Price 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 Price hadn't gone elsewhere. They had just gone home.This current state-of-affairs was causing Jeremy Dixon 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. In the evenings he would discuss his concerns with his wife, Irene, and still find no relief from the worry and frustration.

 

""I have a bad feeling, Lin,"" he would say with deep woe.""What could you do differently?"" she would ask.Jeremy 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 somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. What could cause this ultimate death spiral of business?""I know what it is,"" Jeremy said. ""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 Irene 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'.""Irene was trying so hard to support her husband in these worrying times, while Jeremy was weighed down with the worry of how he was going to handle this situation he found himself in.The next day Jeremy strolled into his office and was determined to sit down and make every phone call to every client who had owed Price money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Jeremy 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 Jeremy was realising just how much trouble he was in.Poor Jeremy 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.

 

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

 

""Sure thing Peggy, come on in."" Jeremy relaxed back into his chair and looked up at Peggyerley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Jeremy."" 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?"" Peggyerley asked.""It does sound vaguely familiar. What is it?"" he said.""Well,"" she began, ""It�s actually quite simple really.

 

Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Jeremy interrupted ""Immediately?"".""Immediately, yes"" she added, ""it is actually very simple. We can have an expert account manager review our numbers and help us complete a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It provides a very broad view.""Jeremy replied cautiously ""I see - and what happens then?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

The company will advise us the cost to purchase factoring for our company's accounts receivable. Once we arrive at a mutual agreement, the funding begins.�Leaning forward, Jeremy studied the documents very closely.""I do not know, Peggy - it just sounds too good to be true"", Jeremy said quietly.""Now, now, I know, I thought the same thing. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. They appear to be very flexible, Jeremy,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" asked Jeremy.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. 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. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" Jeremy said.He took a deep breath and looked at his secretary with something she recognized as hope.""Exactly�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Jeremy thought about this and agreed with Peggyerley. The clients who owed them money were long standing friends and professional resources of Price. Just because they were experiencing difficulties paying their own bills now, Jeremy was very concerned about losing these relationships. 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.""Well, let me think about this tonight Peggy, thank you."" Peggy stood up and left Jeremy's office, with the nice feeling of knowing that she may just have solved a very serious problem.Jeremy sat behind his desk and looked over the details Peggy had not mentioned in their meeting. What other issues could freight factoring help Price 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, Price could receive up to fifty-percent cash advances upon load pick-ups. Jeremy was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""Well, I'll have to tell Jeffery about this,"" muttered Jeremy to himself.Jeffery is Jeremy's son-in-law, and he really admired the ideas behind Price, so much so that only two years before he had started his own transportation service business. At that time Jeremy knew the struggles Jeffery would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Price was struggling then the little guys, like Jeffery, were going to be in even more trouble. Perhaps the antidote to these problems was in freight factoring, and they were about to find out.Some months later, having successfully gone through the entire process of the application, having experts study his credit history and statements and review his accounts receivable, Jeremy 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 took that time and refocused effort to offering competitive prices in new territories. Jeremy recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

 

More Trucking Factoring Companies Story Articles

Factoring in the Future of a Trucking Business: A Story Bernard Burns let the phone ring on his desk. He let his morning coffee cool and left his cigarette to ash itself in the tray, because he is trying to make the biggest decision ever for his trucking company. Burns 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 Bernard's father had started this business working as an owner-operator and eventually growing Burns 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 Bernard's mother had jumped into the cab at times to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. Now the company was solely in Bernard�s hands and he wanted to live to see it in better shape for his sons.

 

To move Burns Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. He had employees to pay. They all have families and the usual household bills. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. Every time he had to turn down a request, Burns Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Bernard allowed himself a good hard chuckle. His father had been against placing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. 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.

 

Bernard knew he was right in his forward thinking. How would he take Burns 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.

 

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

 

Now it was time for Bernard 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. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! 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. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He was quite happy to sign an exclusive contract. 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. Many companies offered a non-recourse factoring program that suited him just fine. He was more than happy with the figures he was offered in percentage terms on the freight bills. It was good money.

 

It was really refreshing dealing with the factoring people. They were extremely helpful and more personable than the bank staff. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar for a handout. The factoring companies 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 Bernard because he and his father had built up good strong relationships over decades with their list of clients. So he knew they would understand when the factoring company contacted them for the invoices. His clients wouldn�t think poorly of Burns 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, Bernard stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. With the capabilities of this new cash flow, Bernard could actually expand Burns 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.

 

 

 

 

 

 

 

 

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Trucking Factoring  Articles

"

�So It is not a loan?� asked Allan Cole, reclining back into his chair and crossing his legs. The woman sitting across the desk from Allan smiled at him, shaking her head.�No, not exactly,� she stated.Allan Cole owned a small trucking company, and his business had recently fallen on difficult times. Trucking could be a profitable business, and for a little under a decade, it had been for Troy. He named his business Lambert Trucking, named after Jeremy and Jeff, his two grandfathers. Both of these men had been very hardworking and had set a great example for Troy.Disaster had struck half a year ago, when two trucks in Troy�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. Allan depended on his full fleet, and missing two trucks was devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Allan had on hand.A big problem a lot of trucking companies came across was how bills were paid in the industry. You could go a month or more before bills were completely paid off. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Allan was an excellent business man, and he certainly hadn't done anything wrong. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.That�s where the woman across the desk came in. Her name was Kathryn 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�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. That way we�re protected from a complete loss, but you�re protected from the outrageous fees you would find in a loan from the bank.Allan agreed. It sounded perfect - perhaps too good?.The woman laughed. �I'm not sure that you believe me,� she said.�No, I do, I just think it sounds a bit too good to be true. I thought I was going to lose my company.�Kathryn nodded. �We get that a lot. There's no way we want to see you lose your business. You work hard, you�ve put everything you can into it. We all need help sometimes. That�s what we�re here for.""In any case, thank you for coming to see me.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Kathryn with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.

 

Allan completed the form, with Kathryn offering advice as needed.

 

The completed profile gave Kathryn and her company all the information they needed on Troy's business, and with this information they would determine if this business would in fact be suitable for Factoring. In truth, not all companies were. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. As Allan completed his form, Kathryn listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Kathryn took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Troy�s hand. He stood before they shook as well, and then smiled. They said their goodbyes and Allan walked her to the door, and then returned to 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. But now, after speaking to Kathryn 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 sudden panic attacks, not matter where he was. He could feel it all fading away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was there, he was on the right path, and he was working to make things right.Allan 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 successful. Offering home cooking in his own hometown, his business had really prospered.But it wasn't what he really wanted to do. He wasn't passionate about the food industry. He thought long and hard, and then he decided to sell the restaurant. He took six months off, and during that time he decided to create Lambert Trucking. And that's exactly what he did. For the second time in his short life he created a company from the ground up. The business had been an instant success.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was nearing fifty. He didn�t think he had it in him, to save this company. But he couldn�t give up. The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He didn�t know how to say quit.And now it seemed as though he would not have to - all because of Factoring. Allan opened his eyes, sat forward, turned his computer on. He had lots to do. He could be thankful later, for now, it was time to work.

 

"

 

 

 

More Trucking Factoring Company Story Articles

The reason why Truck Companies Work with Factoring Firms.

 

As the manager of your own company, you may likely be more than perceptive already of the difficulty in making certain that capital matters do not become a difficulty down the line. After all, the most disappointing thing that can possibly occur for your company is to find yourself involved in a long and difficult circumstance that leaves you forever trying to find the resources you need on an recurring basis.

 

For any kind of establishment in this scenario, the dilemma can come for waiting for work to lapse and actually be paid out into your bank account. Statements, checks, and the like could take some time to actually to be taken care of which can certainly leave you with short-term capital problems. Thankfully, there are options out there for businesses to explore-- and one of these is factoring companies.

 

Factoring providers will, in trade for your bill of sales, provide you with the cash today so you do not need to stress over the delaying time frame that could make paying off the bills and purchasing materialsmore difficult. With this form of system, invoice factoring can end up being extraordinarily beneficial for countless businesses who need to avoid a money ploy which they have gotten themselves in.

 

Since, depending on the scale of the work, it can take up to 60 days for several firms to get paid then it is significant to blanket your own back and not leave yourself resources short to settle the expenses. After all, how many establishments possess two months cash flow just occupying there to address all their overheads till they get paid?

 

This is most notably correct of trucking enterprises. They usually deal with good deals of invoices which means a considerable quantity of collection time concerns business owner themselves. Striving to get paid in time can eventually become an unbelievable struggle and this is the key reasons why you work with trucking factoring providers who are thrilled to help out truckers specifically.

 

As all of us recognize, trucking is an incredibly enormous business with many organizations out there handling hundreds of drivers. However, many of these drivers end up in money issues for the reason that they are still awaiting work from six weeks back to actually pay them. When this is the situation for a trucking organization, resorting to factoring agencies for solutions maybe the most effective alternative left.

 

This indicates that a trucking corporation can compensate the salaries of the work force, keep all the cars filled with gas and continue to escalate, rise and expand without continually waiting for the funds which is taking too lengthy to come in. Trucking Establishments operating without a factoring system implemented are leaving themselves at substantial danger, as contenders cash out rapidly and proceed to broaden.

 

There's genuinely not much to be stressed about when it comes to utilizing a Factoring establishment-- they usually are not like a financial institution or an individual who is going to leave you with a huge mass of debt to pay back. You give them genuine invoices from output you have already accomplished , you are only speeding the payment process.

 

In the United States, where trucking establishments develop, factoring agencies are not considered borrowing in any capacity. This confidential arrangement then allows both groups to profit and experience a comfortable future-- it provides the factoring company a warranted asset of money to add to the list and it provides the trucking business the needed funds that they worked hard to get.

 

The trucking company bestows their statements to the factoring establishment. The trucking factoring firm then receive the payment amounts from the trucking company's clients. Factoring has been in existence for centuries and has been adopted for decades by several varied markets-- but none much more so than truckers. While you could miss out on a small part of the money, something like 1-3 % depending on who you collaborate with, it implies that you are getting the money today and can actually start off setting the cash to perform.

 

After all, an IOU or an invoice is definitely not going to pay for bills, is it? For trucking establishments when the resources can be really good one day and gone the next, it is up to the drivers to work prudently and to ensure they are leaving themselves with a considerable quantity of time and finance to get through the week until they are paid for once more.

 

So the next moment your trucking business is bearing some momentary cash flow challenges and you are putting in an excessive amount of time chasing slow paying customers, why not begin looking at making use of a factoring businesses as a manner to get your finances and give yourself a more convenient future in the eyes of your trucking staff and your bank balance?

 

 

 

 

 

 

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Traditional Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. While these loans are handy they are not available to every business. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing 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. 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 a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

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

 

While not every business can take advantage of Trucking Factoring account financing (you have to have a business that has account receivables) for those that can use this type of financing there are several distinct benefits.

 

1. You 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. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

2. There's no collateral required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

3. You'll receive the 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 main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. 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.

 

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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Factoring Companies by City

New York City

Los Angeles


Chicago


Houston


Philadelphia


Phoenix


San Antonio


San Diego


Dallas


San Jose

Austin


Jacksonville


Indianapolis


San Francisco


Columbus


Fort Worth


Charlotte


Detroit


El Paso


Memphis

 

 

Boston


Seattle


Denver


Washington DC


Nashville-Davidson


Baltimore


Louisville/Jefferson


Portland


Oklahoma City


Milwaukee


Las Vegas


Albuquerque


Tucson


Fresno


Sacramento


Long Beach


Kansas City


Mesa


Virginia Beach


Atlanta

 

Colorado Springs


Raleigh


Omaha


Miami


Oakland


Tulsa


Minneapolis


Cleveland


Wichita


Arlington