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How You can Get a Quick Loan of $50,000 - Our Invoice Factoring Company Can Give
Your Truck Company The Money You Need

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factoring trucking receivables

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Small freight brokerage businesses, specifically those who have not been in existence for very long, will typically discover it difficult to secure a loan. Banks are commonly hesitant to provide money to companies that do not have a lot of earnings and possessions. They likewise want evidence of the practicality of a business and hence need that most operations, especially small ones, be in company for a specific amount of time before they are eager to hand over any money. Because of this, a medium-size business commonly has a couple of cash producing options when needs arise. One option readily available, however frequently ignored, is invoice factoring. This is an exceptional means for a small company to get money.

 

 

 

 

 

 

 

Don't Even Think About Gpoing To The Bank Without Reading This Report - Select A Freight Bill�Factoring Company  Instead Of A Traditional Bank Funding

Exactly how to Enhance Cash Flow Without Loaning -Cash Money flow is among the main reasons companies fail.

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

Cash flow does not have to be an issue any ever more. Do not be fooled -- banks are not the only locations you can get funding. Other solutions are available and you do not have to borrow. What is truck factoring ? One option is called trucking factoring. Truck Factoring is the process of offering invoices to a financier instead of waiting to gather the money from the customer. Oh, the Irony- Trucking factoring has a paradoxical difference: It is the monetary foundation of many of America's most effective companies. Why is this paradoxical ? Because factoring is not instructed in business colleges, is rarely mentioned in business plans and is fairly unknown to bulk of most of American company people.

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

For this service, the credit card company charges Sears a fee (typical common normal charges range from two to 4 percent of the sale). The Benefits Receivable Funding can offer numerous advantages to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on a product that has currently been delivered, a business can factor (sell) its receivables for cash at a little discount off the dollar value of the invoice. Payroll, marketing efforts, and working capital are simply a few of the company needs that can be satisfied with instant  cash.

Staffing Factoring provides the ways for a manufacturer to replenish inventory and make even more items to sell: There is no longer a need to await for earlier sales to be paid. FACTORING is not just a cash management tool for producers: Practically any kind company can take advantage of FACTORING. Generally, a business that extends credit will have 10 to 20 percent of its yearly sales tied up in invoices at any given time. Think for a moment about exactly how much is bound in 60 days' worth of invoices: You can not pay the power bill or this week s payroll with a customer s invoice, but you can offer that invoice for the money to satisfy those responsibilities. Using truck factoring companies is a fast and simple process. The factoring company buys the invoice at a discount, typically a couple of portion points less than the stated value of the invoice.

 

 

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The American Trucking Organization
states that there are about
205,000 workers with freight trucking
firms and
300,000 private providers trucking
firms certified to
run in the U.S. that transported,
according to their latest searchings for billions of
products, supplies and
basic materials .
There are numerous common
providers either going solo or in
groups on our nation
roadways transporting these
crucial items to our
shops, manufacturingplants and shipping ports.

Furthermore freight bill factoring
companies aid
countless of them and offer their
receivable loan facilities
nationwideincluding
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

 

El Paso has a diversified economy focused primarily within international trade, military, government civil service, oil and gas, health care, tourism and service sectors. The El Paso metro area had a GDP of $29 billion in 2011. There were also $92 billion worth of trade in 2012. Over the past 15 years the city has become a significant location for American-based call centers. Cotton, fruit, vegetables, and livestock are also produced in the area. El Paso has added a significant manufacturing sector with items and goods produced that include petroleum, metals, medical devices, plastics, machinery, defense-related goods and automotive parts. The city is the second busiest international crossing point in the U.S behind San Diego. El Paso is home to one Fortune 500 company in Western Refining, which is listed on the New York Stock Exchange. This makes the city one of six Texas metro areas to have at least one Fortune 500 company call it home; the others being Houston, Dallas-Fort Worth, San Antonio, Austin and Corpus Christi. The city has three other publicly traded companies in , a NASDAQ-listed company that manufactures personal health care products under many labels, such as among others. The third publicly traded company is listed on the New York Stock Exchange, a public utility engaging in the generation, transmission, and distribution of electricity in west Texas and southern New Mexico. The fourth publicly traded company is also traded in the . It is a subsidiary which owns, operates, develops, and acquires terminals, storage tanks, pipelines, and other logistics assets.Largest Employers in El Paso, Inc. More than 70 Fortune 500 companies have offices in El Paso, Hispanic Business Magazine included 28 El Paso companies in its recently released list of the 500 largest Hispanic owned businesses in the United States. El Paso's 28 companies are second only to Miami's 57. The list of largest Hispanic owned businesses include companies like .The city also has a large military presence with Fort Bliss, William Beaumont Army Medical Center and Biggs Army Airfield. The defense industry in El Paso employs over 37,000 and provides a $6 billion annual impact to the city's economy. Fort Bliss was chosen as the newly configured U.S. Air Force Security Forces Regional Training Center which will bring 8,000 to 10,000 Air Force personnel annually. An M1 Abrams tank crew on Fort Bliss� Do�a Ana RangeIn addition to the military, the federal government has a strong presence in El Paso to manage its status and unique issues as an important border region. Operations headquartered in El Paso include the DEA domestic field division 7, El Paso Intelligence Center, Joint Task Force North, U.S. Border Patrol El Paso Sector and U.S. Border Patrol Special Operations Group (SOG).Call center operations make up seven of the top 10 business employers in El Paso. With no signs of growth slowing in this industry, in 2005, the 14 largest call centers in El Paso employed more than 10,000 people. More recently, has opened a business solutions center in West El Paso, employing about 1,100 people with expansion plans to reach 1,700 by 2017.Tourism is another major industry in El Paso, bringing in $1.5 billion-a-year and over 2.3 million visitors annually due to the city's sunny weather, natural beauty, rich cultural history and many outdoor attractions.Education is also a driving force in El Paso's economy. El Paso's three large school districts are among the largest employers in the area, employing more than 20,000 people among them. UTEP has an annual budget of nearly $418 million and employs nearly 4,800 people. A 2010 study by the university's Institute for Policy and Economic Development stated the University's impact on local businesses is $417 million annually

 

 

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

 

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.

 

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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

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

 

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

 

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

 

 

"

Since the mid 1980s Bishop Truck & Haul have been successfully running their freight business. 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 Bishop 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. 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 to a crawl

 

. And worse yet, Bishop had noticed during the early part of 2008 that though the bulk of their clients were always on time with payments, the few late-bloomers there were, had seemingly started to spread this illness. Spring changed to summer, summer changed to fall, and the CEO of Bishop, Andre Fletcher, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The numbers of clients who owed him back debt were growing.He had gone to his administrators and asked them what the problem had been. Were they doing something wrong or different when it came to reaching out to delinquent accounts? By his bookkeepers records, this wasn't the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. They had just gone home.This current state-of-affairs was causing Andre Fletcher to have some very restless nights. Andre was very concerned, because there were constant overheads, goods to ship, employees to pay, and trucks which needed to be maintained, but there just wasn't the money coming back into the business. In the evenings he would discuss his concerns with his wife, Agnes, and still find no relief from the worry and frustration.

 

""I have a bad feeling, Lin,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would ask.Andre 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 traveling, bringing goods to all of his clients. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. Why couldn�t he work out how to resolve this financial problem with his business?""I think I know what it could be,"" said Andre. ""For way too long I've been relying solely on profits received from invoices. For too long I've been allowing our clients to let their accounts become overdue."" Agnes 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'.""Agnes was trying so hard to support her husband in these worrying times, while Andre was weighed down with the worry of how he was going to handle this situation he found himself in.The next day Andre strolled into his office and was determined to sit down and make every phone call to every client who had owed Bishop 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. A waste of time - a waste of money - he had the best intentions, but all the while Andre was realising just how much trouble he was in.After a half day of contacting debtors in vain - they dodged his calls or promised to call back at worst or made minimal interest-only payments at best - he was about to throw in the towel when his secretary Lydiaerley knocked at his door.

 

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

 

""Of course Lydia, please come in."" Andre leaned back in his chair and looked expectantly at Lydiaerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Andre."" 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?"" Lydiaerley asked.""It does sound vaguely familiar. What is it?"" he said.""Well,"" she began, ""It�s actually quite simple really.

 

So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Immediately?"" Andre interrupted.""Yes, immediately,"" she continued, ""In a nutshell, it is pretty easy. We can have an expert account manager review our numbers and help us complete a company profile. 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.""I see,� Andre said. �And then what?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

The company will advise us the cost to purchase factoring for our company's accounts receivable. We come to an agreement and the funding starts pouring out.�Andre was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""I do not know, Lydia - it just sounds too good to be true"", Andre said quietly.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Andre: 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, Andre,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" he asked.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. Apparently they can figure this all out in two to four days.

 

""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. 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,"" said Andre.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.""Andre thought about this and agreed with Lydiaerley. The customers who were in debt to Bishop Truck & Haul were professional resources of the company, but they were also long-standing friends. Andre wasn't prepared to lose these relationships just because they were having financial issues at the moment. Andre knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. He did not want to lose business but he also did not want to lose any more money.""Well, let me think about this tonight Lydia, thank you."" Lydia nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Andre sat behind his desk and looked over the details Lydia had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Bishop 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, Bishop could receive up to fifty-percent cash advances upon load pick-ups. Andre 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.""I must tell Wayne the good news,"" Andre muttered to himself.His son-in-law Wayne had liked the idea of Bishop 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. Andre knew then what struggles Wayne would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Bishop was hurting, a little guy like Wayne was about to catch his death. But, maybe the answer for both of them was in freight factoring, and Andre was going to find out very soon.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Andre found himself beginning to dig his way out of the hole his delinquent account holders had created for him.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They used that time to refocus their efforts in being competitive in new territories. Andre recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. If Andre hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

El Paso has a diversified economy focused primarily within international trade, military, government civil service, oil and gas, health care, tourism and service sectors. The El Paso metro area had a GDP of $29 billion in 2011. There were also $92 billion worth of trade in 2012. Over the past 15 years the city has become a significant location for American-based call centers. Cotton, fruit, vegetables, and livestock are also produced in the area. El Paso has added a significant manufacturing sector with items and goods produced that include petroleum, metals, medical devices, plastics, machinery, defense-related goods and automotive parts. The city is the second busiest international crossing point in the U.S behind San Diego. El Paso is home to one Fortune 500 company in Western Refining, which is listed on the New York Stock Exchange. This makes the city one of six Texas metro areas to have at least one Fortune 500 company call it home; the others being Houston, Dallas-Fort Worth, San Antonio, Austin and Corpus Christi. The city has three other publicly traded companies in , a NASDAQ-listed company that manufactures personal health care products under many labels, such as among others. The third publicly traded company is listed on the New York Stock Exchange, a public utility engaging in the generation, transmission, and distribution of electricity in west Texas and southern New Mexico. The fourth publicly traded company is also traded in the . It is a subsidiary which owns, operates, develops, and acquires terminals, storage tanks, pipelines, and other logistics assets.Largest Employers in El Paso, Inc. More than 70 Fortune 500 companies have offices in El Paso, Hispanic Business Magazine included 28 El Paso companies in its recently released list of the 500 largest Hispanic owned businesses in the United States. El Paso's 28 companies are second only to Miami's 57. The list of largest Hispanic owned businesses include companies like .The city also has a large military presence with Fort Bliss, William Beaumont Army Medical Center and Biggs Army Airfield. The defense industry in El Paso employs over 37,000 and provides a $6 billion annual impact to the city's economy. Fort Bliss was chosen as the newly configured U.S. Air Force Security Forces Regional Training Center which will bring 8,000 to 10,000 Air Force personnel annually. An M1 Abrams tank crew on Fort Bliss� Do�a Ana RangeIn addition to the military, the federal government has a strong presence in El Paso to manage its status and unique issues as an important border region. Operations headquartered in El Paso include the DEA domestic field division 7, El Paso Intelligence Center, Joint Task Force North, U.S. Border Patrol El Paso Sector and U.S. Border Patrol Special Operations Group (SOG).Call center operations make up seven of the top 10 business employers in El Paso. With no signs of growth slowing in this industry, in 2005, the 14 largest call centers in El Paso employed more than 10,000 people. More recently, has opened a business solutions center in West El Paso, employing about 1,100 people with expansion plans to reach 1,700 by 2017.Tourism is another major industry in El Paso, bringing in $1.5 billion-a-year and over 2.3 million visitors annually due to the city's sunny weather, natural beauty, rich cultural history and many outdoor attractions.Education is also a driving force in El Paso's economy. El Paso's three large school districts are among the largest employers in the area, employing more than 20,000 people among them. UTEP has an annual budget of nearly $418 million and employs nearly 4,800 people. A 2010 study by the university's Institute for Policy and Economic Development stated the University's impact on local businesses is $417 million annually

 

 

More Trucking Factoring Companies Story Articles

Factoring in the Future of a Trucking Business: A Story The phone was ringing on his desk, and Darrell Stephens just sat there letting it ring. His morning coffee cooled and his cigarette smoked away in the tray: Darrell is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Stephens 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 Darrell's father had started this business working as an owner-operator and eventually growing Stephens 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 Darrell'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. But now things were different: the company was in Darrell's hands and he needed to ensure that this business would be left in great shape for his sons.

 

To move Stephens Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. His employees needed to be paid. They had families and household bills too. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. Every time he had to turn down a request, Stephens Trucking looked weak in a very strong market.

 

His father would have told him to wait and to take his time adding on new technology. Darrell chuckled, thinking about his father. He remembered when his father was totally against installing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). His father days were long gone and technology was actually an important improvement for the business such as having Qualcomm to cut down on fruitless time communicating on the phone for bills of lading.

 

Darrell believed a successful man is always thinking of his next step. What would be the next step for Stephens Trucking? And how would he be able to afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

He wondered about factoring - was this the answer for him? If he was being honest, he did not really understand how it all worked. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Darrell had to really consider what his next step was going to be. Darrell had heard that there were companies that charged for same day money transfers and would only advance a percentage of the money owed to your company while holding the rest in a private account if they didn�t get their bill payment within 60 or so days. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

But it turned out to be quite easy. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He was quite happy to sign an exclusive contract. 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.

 

It was really refreshing dealing with the factoring people. 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 didn�t worry over his credit and the debt troubles his father had had in the past of the company. Factoring was based on the credit of his customers and on their reliability which worked well for Darrell 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 Stephens 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, Darrell stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. With the capabilities of this new cash flow, Darrell could actually expand Stephens 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, this is not a loan?� asked Bryan Morris, reclining back into his chair and crossing his legs. The woman sitting across the desk from Bryan smiled at him, shaking her head.�No, not exactly,� she stated.Bryan Morris 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 Dan. He named his business Woods Trucking, named after Warren and Calvin, his two grandfathers. They had both been hardworking men, and had done a lot to make Bryan the same.Disaster had struck half a year ago, when two trucks in Dan�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 Dan's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Bryan had on hand.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

You could go a month or more before bills were completely paid off. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Bryan 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. Her name was Leona and she worked for a factoring company. He had accidentally come across her company one night when he was working late, searching the internet to see if there was some solution to his financial dilemma.She sat there now, and explained. �it is really not a loan at all: we actually buy your accounts receivable. we are not giving you finance to be repaid later: we are purchasing something from you, and when you can you can buy it back. 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.Bryan nodded. It sounded good to him, almost too good.Leona 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.�Leona smiled, agreeing. �Yes, we get a lot of that. Listen, I�d hate to see you lose your company. You work hard, you�ve put everything you can into it. We all need help sometimes. That�s what we�re here for.""Well, I'm very grateful that you came to see me today.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Leona with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Bryan filled the form out, with Leona available to help him if he needed it. The profile filled Leona and her company in on Dan�s company, and would help them determine if he was suitable for factoring. Unfortunately, not all companies are. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. As Bryan completed his form, Leona listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Leona took it and slid it into her briefcase. She then stood, reached across the desk and shook Dan�s hand. He stood before they shook as well, and then smiled. They said their goodbyes and Bryan 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 leaned back and closed 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 Leona and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.All those long, sleepless nights. The terrifying panic attacks that occurred regardless of where he was. Already he could feel all the stress start to drain away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.Bryan 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 he had gotten bored. 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 Woods Trucking. And that's exactly what he did. For the second time in his short life he created a company from the ground up. He had been successful.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was nearing fifty. He 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 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. Bryan opened his eyes, sat forward, turned his computer on. He had things to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

Precisely why Trucking Companies Employ Factoring Firms.

 

As the owner of your own establishment, you may well be much more than knowledgeable already of the difficulty in making sure that cash flow concerns do not become a problem down the line. Anyway, the most unfortunate thing that can quite possibly transpire for your enterprise is to find yourself swept up in a long and hard condition that leaves you forever looking for the resources you really need on an ongoing manner.

 

For any sort of business enterprise in this position, the challenge can come for waiting for work to lapse and actually be provided into your account. Bill of sales, checks, and the like could take some time to actually to be taken care of which can certainly leave you with short-term capital troubles. Luckily, there are solutions out there for businesses to consider-- and one of these is factoring firms.

 

Factoring companies will, in substitution for your accounts, give you with the cash right away to ensure that you do not have to fret about the delaying period which could make paying off the bills and purchasing toolsmore troublesome. With this style of arrangement, invoice factoring can end up being tremendously practical for many establishments who ought to avoid a money trap which they have discovered themselves in.

 

Given that, depending upon the scale of the task, it can take up to 60 days for a number of firms to get paid out then it is crucial to blanket your own back and not leave yourself funds short to pay off the expenses. After all, how many firms have two months cash flow just lying there to handle all their bills till they earn?

 

This is primarily correct of truck establishments. They tend to handle good deals of accounts which means a notable quantity of collection time concerns business owner themselves. Attempting to get paid promptly can become an incredible inconvenience and this is the reason why you employ trucking factoring organizations who are glad to help out truckers exclusively.

 

As we all realize, trucking is an surprisingly enormous industry with plenty of companies out there handling hundreds of vehicle drivers. Unfortunately, many of these drivers wind up in cash troubles for the reason that they are still waiting for work from six weeks previously to actually pay them. When this is the situation for a truck organization, choosing factoring providers for support may be the very best alternative left.

 

This signifies that a truck business can pay the paychecks of the work force, keep all the vehicles refilled with fuel and continue to escalate, flourish and expand without consistently waiting for the resources which is taking too prolonged to come in. Trucking Firms working without a factoring program used are leaving themselves at critical hazard, as competitions cash out promptly and continue to grow.

 

There's genuinely very little to be worried about when it comes to utilizing a Factoring business-- they usually are not like a bank or somebody who is going to leave you with a significant stockpile of financial obligation to pay back. You give them authentic invoices from job you have already finalized , you are only just hastening the payment process.

 

In the United States, where trucking enterprises develop, factoring providers are not considered accepting loan of in any capacity. This confidential arrangement then enables both groups to make money and delight in a good future-- it provides the factoring provider a guaranteed asset of earnings to add to the list and it gives the trucking business the required funds that they sweated to earn.

 

The trucking company presents their accounts to the factoring establishment. The trucking factoring firm then receive the payment amounts from the trucking company's customers. Factoring has been in existence for centuries and has been utilized for decades by many varied fields-- but none more so than truckers. While you may well lose out on a small part of the money, something like 1-3 % depending on who you collaborate with, it means that you are getting the resources today and can actually begin putting the cash to do work.

 

Once and for all, an IOU or an invoice is definitely not going to fund costs, is it? For trucking establishments when the money can be excellent one day and gone the next, it is up to the vehicle drivers to work prudently and to guarantee they are leaving themselves with a substantial quantity of time and money to get through the week until they are compensated once again.

 

So the next time your trucking company is enduring some short-term capital issues and you are devoting a lot of time chasing slowly paying clients, why not start off looking at utilizing a factoring businesses as a method to get your finances and give yourself a more worry-free future in the eyes of your trucking team and your bank dividend?

 

 

 

 

 

 

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Bank Loans

 

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

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to sell. Once you have set up Trucking Factoring account it continues as long as you wish it too and the amount of money available to you even can grow as your business grows, giving you the ready cash you need to meet your own obligations.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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

 

1. You will not Incur Debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. No Collateral Required. Another great benefit of using the services of a Trucking Factoring company instead of a bank loan is that there is no collateral required for the Trucking Factoring company, because the Trucking Factoring company is buying your accounts receivables. 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 you do not have to worry about monthly loan repayments, and you do not have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. 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. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

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

 

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