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Cash Flow Satisfaction- or Else! - Our Trucking Factoring Companies Can Provide
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Using a Truck Factoring Company is useful for several reasons. It enables a trucking business to raise cash without obtaining brand-new financial obligation. While debt is in some cases needed, most trucking firms would choose to raise cash without borrowing money. Financial obligation is risky, and when it cannot be repaid, assets can be repossessed. If the debt is big enough, it might even force a trucking companies out of business.

 

 

 

 

 

 

 

This is Marie Antoinette - Escaping - Select An Invoice Factoring Company Instead Of A Traditional Bank Financing

How to Enhance Cash Flow Without Borrowing -Cash Money flow is one of the primary reasons businesses fail.

At one time or another, every company, even successful ones, have experienced bad cash flow.

Money flow does not have to be a problem any ever more. Do not be deceived -- banks are not the only places you can get funding. Other solutions are available and you do not have to borrow. Exactly what is trucking factoring ? One option is called truck factoring. Trucking Factoring is the process of selling invoices to an investor rather than waiting to gather the money from the client. Oh, the Irony- Trucking factoring has an ironic difference: It is the monetary foundation of numerous of America's most successful companies. Why is this paradoxical ? Because factoring is not taught in business colleges, is rarely mentioned in company plans and is relatively unidentified to the majority of most of American company people.

Yet it is a financial process that releases up billions of dollars every year, allowing countless companies to grow and succeed. Receivable Funding has actually been around for countless years. FACTORING Companies are financiers who pay money for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your client has agreed pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business deals, a large percentage of the retail business 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 large customer finance companies are really just big Receivable Loan Financing Companies of consumer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The store gets paid almost instantly, although you do not make payment until you are ready.

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

Trucking Factoring provides the means for a producer 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 just a money management tool for manufacturers: Almost any kind business can take advantage of Receivable Loan Financing. Typically, a business that extends credit will have 10 to 20 percent of its annual sales tied up in accounts receivable at any given time. Think for a minute about exactly how much is tied up in 60 days' worth of invoices: You can not pay the power bill or this week s payroll with a customer s invoice, but you can sell that invoice for the cash to meet those responsibilities. Using truck factoring companies is a quick and easy process. The factor purchases the invoice at a discount, usually a few percentage points less than the stated value of the invoice.

 

 

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The American Transportation Organization
states that there around
205,000 truck drivers with freight trucking
companies and
276,000 private providers trucking
companies certified to
operate in the U.S. that carried,
according to their latest listings of millions of
products, materials and
basic products .
There are several common
providers either going solo or in
groups on our country
highways transferring these
important products to our
shops, manufacturingplants and ports.

Moreover truck factoring
firms aid
countless of them and offer their
receivables financing facilities
countrywidecounting
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

 

The city's central location has led to much of its business development. Located on the Mississippi River and intersected by five major freight railroads and two Interstate Highways, I-40 and I-55, Memphis is ideally located for commerce in the transportation and shipping industry. A third interstate, I-69, is under construction, and a fourth, I-22, has recently been designated from the former High Priority Corridor X. River barges are unloaded onto trucks and trains. The city is home to Memphis International Airport, the world's second busiest cargo airport (following Hong Kong), which serves as a primary hub for shipping.Memphis is the home of three Fortune 500 companies: , based in Nashville, has a factory in Memphis, near Beale St. and the The Federal Reserve Bank of St. Louis also has a branch in Memphis. , manufacturer of tissue products, operates the largest tissue manufacturing facility under one roof in the Memphis area.The entertainment and film industries have discovered Memphis in recent years. Several major motion pictures, most of which were recruited and assisted by the , have been filmed in Memphis, was set in Memphis but filmed in Atlanta. The 1992 television movie Memphis, starring Memphis native , who also served as executive producer and writer, was also filmed in Memphis. The city lost , whose production was lured to Georgia, and, a television series on set in Memphis, was lured to Louisiana.

 

 

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

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

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

 

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.

 

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

 

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.

 

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

 

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 Stewart 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 heady times from 2002 to 2007, Stewart was a top rated accounts receivable mastermind of the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. Cash was flowing and times were good for all.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed to a crawl

 

. Worse still, it was noticed by Stewart in early 2008 that even though most of their loyal customers were on time with their payments, there were a few late bloomers who were starting to spread the disease. Spring changed to summer, summer changed to fall, and the CEO of Stewart, Joe Obrien, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The number of clients who were late in their payments was continuing to grow.He had already been to the administrators to ask what the actual problem was. Were they doing things different, or wrong, when it came to collecting overdue accounts? When checking his bookkeeper's records this was definitely not the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Stewart 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. 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 Joe Obrien to have some very restless nights. Joe was very concerned, because there were constant overheads, goods to ship, employees to pay, and trucks which needed to be maintained, but there just wasn't the money coming back into the business. After work he would confide in his wife, Alice, and neither were unable to stop the constant worry over the lack of funds.""Lin, I have a really bad feeling,"" he would say with deep woe.""What could you do differently?"" she would ask.Joe would stare off into the distance, and then slowly close his eyes. He could see the fleet of trucks he had purchased over the years. He could see them traveling, bringing goods to all of his clients. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What on earth was happening to create the death of his business?""I think I know what it could be,"" Joe said. ""For way too long I've been relying solely on profits received from invoices. For too long I've been allowing our clients to let their accounts become overdue."" Linda could only grab her husband's hand and look at him lovingly, ""it is a hard economy. It might be awhile until things get settled up.

 

""Alice was trying so hard to support her husband in these worrying times, while Joe was weighed down with the worry of how he was going to handle this situation he found himself in.The next day Joe strolled into his office and was determined to sit down and make every phone call to every client who had owed Stewart money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Joe knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. Wasting money, wasting time - even with the best of intentions, Joe knew that he was in trouble.

 

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 Jackieerley knocked at his door.

 

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

 

""Sure thing Jackie, come on in."" Joe leaned back in his chair and looked expectantly at Jackieerely.""Well Joe, this afternoon I did some research, trying to work out how we are going to get out of this mess."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard of factoring?"" Jackieerley asked.""It sounds vaguely familiar. What is factoring""? he asked.""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.""Joe 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. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. 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,� Joe said. �And then what?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. There�s a lot of flexibility depending on the business volume and credit histories. This company tells us what the cost will be to purchase factoring for our accounts receivable. We come to an agreement and the funding starts pouring out.�Leaning forward, Joe studied the documents very closely.""It sounds too good to be true, Jackie,"" he said.""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. And they're flexible Joe,"" she drew a circle around a paragraph on the document before him.""How flexible?"" asked Joe.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. It only takes 2 to 4 days for this to be figured out. ""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" said Joe.He took a deep breath and looked at his secretary with something she recognized as hope.""Precisely�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Joe thought about this and agreed with Jackieerley. The clients who owed them money were long standing friends and professional resources of Stewart. Just because they were experiencing difficulties paying their own bills now, Joe was very concerned about losing these relationships. Joe knew only too well that the whole economy was floundering, and that it was not going to change overnight. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. Of course he did not want to lose any more money, but he did not want to lose business either.""Well, let me think about this tonight Jackie, thank you."" Jackie nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Joe sat behind his desk and looked over the details Jackie had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Stewart Truck & Haul with? Running his pencil down the sheet, he noted that the freight factoring company could assist with fuel costs, fuel advances, and fuel discount cards. In fact, Stewart could receive up to fifty-percent cash advances upon load pick-ups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""Well, I'll have to tell Russell about this,"" Joe muttered to himself.Joe's son-in-law, Russell, loved the idea behind Stewart and highly respected his father-in-law for having such great business sense, that two years ago he got his capital together and started his own transportation company. Joe knew then what struggles Russell would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Stewart was struggling then the little guys, like Russell, 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.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Joe was beginning to find his way out of the hole his debtors had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They used that time to refocus their efforts in being competitive in new territories. Joe looked back on the dismal months of life before freight factoring and almost shuddered at the thought. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

The city's central location has led to much of its business development. Located on the Mississippi River and intersected by five major freight railroads and two Interstate Highways, I-40 and I-55, Memphis is ideally located for commerce in the transportation and shipping industry. A third interstate, I-69, is under construction, and a fourth, I-22, has recently been designated from the former High Priority Corridor X. River barges are unloaded onto trucks and trains. The city is home to Memphis International Airport, the world's second busiest cargo airport (following Hong Kong), which serves as a primary hub for shipping.Memphis is the home of three Fortune 500 companies: , based in Nashville, has a factory in Memphis, near Beale St. and the The Federal Reserve Bank of St. Louis also has a branch in Memphis. , manufacturer of tissue products, operates the largest tissue manufacturing facility under one roof in the Memphis area.The entertainment and film industries have discovered Memphis in recent years. Several major motion pictures, most of which were recruited and assisted by the , have been filmed in Memphis, was set in Memphis but filmed in Atlanta. The 1992 television movie Memphis, starring Memphis native , who also served as executive producer and writer, was also filmed in Memphis. The city lost , whose production was lured to Georgia, and, a television series on set in Memphis, was lured to Louisiana.

 

 

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"

Factoring in the Future of a Trucking Business: A Story Frank Wright 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. Wright 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 Frank's father had started this business working as an owner-operator and eventually growing Wright Trucking Company into a fifteen trailer fleet. There had been some hard times when it seemed everything was going to go under and even Frank�s mother strapped herself into a cab to make hauls. His father had worked long enough to see the price of hires drop dramatically during the recession and to see the explosion of fuel prices afterwards. Now the company was solely in Frank�s hands and he wanted to live to see it in better shape for his sons.

 

To move Wright 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 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. He knew that turning down these requests made Wright Trucking look inefficient and weak in what was currently a strong market.

 

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

 

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

 

He wondered about factoring - was this the answer for him? 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. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. 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 this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Frank had to really consider what his next step was going to be. Frank had heard that there were companies that charged for same day money transfers and would only advance a percentage of the money owed to your company while holding the rest in a private account if they didn�t get their bill payment within 60 or so days. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! 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 colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

However, it all turned out to be very simple. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He didn�t mind signing an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. Many companies offered a non-recourse factoring program that suited him just fine. Also he was happy to hear how much he was offered in terms of percentages 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 didn�t worry over his credit and the debt troubles his father had had in the past of the company. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Frank because he and his father had created a very strong and loyal list of clientele over the years. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients would not have any problems, nor would they think poorly of Wright Trucking, because the factoring companies handle themselves in such a polite and professional manner, similar to the way his father had managed the business in the past.

 

Feeling happier now, Frank 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. He suddenly realized that, with this new cash flow, he could actually expand Wright Trucking Company and who knows, move into Canada, which had always been his dream. 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?� Greg Coleman asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Greg smiled at him, shaking her head.�Not quite,� she stated.Greg was the owner of a small trucking company which had fallen on some hard times recently. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Vincent. He named his business Flores Trucking, named after Francis and Gabriel, his two grandfathers. Both of these men had been very hardworking and had set a great example for Vincent.Six months ago disaster struck Vincent's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. Greg depended on his full fleet, and missing two trucks was devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.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. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Greg wasn�t a bad owner, and he hadn�t messed up. 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.That�s where the woman across the desk came in. Greg knew she was employed by a Factoring company and that her name was Jill. Greg had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.She sat there now, and explained. �it is really not a loan at all: we actually buy your accounts receivable. We 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.Greg nodded. It sounded perfect - perhaps too good?.Jill laughed. �You look like you don�t 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.�Jill nodded. �We get that a lot. Listen, I�d hate to see you lose your company. You work hard, you�ve put everything you can into it. Sometimes you need help. 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 Jill with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Greg completed the form, with Jill offering advice as needed.

 

The profile filled Jill and her company in on Vincent�s company, and would help them determine if he was 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 Greg completed his form, Jill listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Jill took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Vincent's hand. He also stood up, and they smiled at each other. Greg walked Jill to the door where they said 'Goodbye', then he went back into his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He 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 Jill 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.The long nights, where he couldn�t sleep. The terrifying panic attacks that occurred regardless of where he was. He could feel it all fading away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.Greg couldn�t help but think back to when he had first started the business. At twenty-two and straight out of school he had opened a restaurant. It had been really successful. Home cooking in his hometown, and he had done very well.But it wasn't what he really wanted to do. His passion didn�t lie with the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took half a year off, and in that time he thought to start Flores Trucking. And that's exactly what he did. Once again he built a company from the ground up. The business had been an instant success.And then the trucks went down, and his success looked to be in flux. He was nearing fifty. He didn�t think he had it in him, to save this company. But he couldn�t give up. Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically 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. Vincent's eyes opened, he sat forward in his chair and turned on his computer. He had lots to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

"

 

 

 

More Trucking Factoring Company Story Articles

The key reasons why Truck Agencies Use Factoring Firms.

 

As the operator of your own establishment, you may be much more than mindful already of the challenge in making sure that capital matters do not become a predicament down the line. After all, the most awful thing that can potentially transpire for your company is to find yourself dragged in a long and hard situation that leaves you forever trying to find the resources you need to have on an continuing manner.

 

For any kind of business enterprise in this instance, the challenge can come for waiting for work to lapse and actually be settled into your account. Bill of sales, checks, and the like could take a long time to actually to be taken care of which could leave you with short-term cash flow issues. The good news is, there are alternatives out there for enterprises to delve into-- and among these is factoring agencies.

 

Factoring firms will, in trade for your invoices, give you with the funds right now in order that you do not need to stress over the waiting time frame which could make paying the expenses and purchasing materialsmore hard. With this form of setup, invoice factoring can come to be extremely useful for a lot of establishments who need to avoid a cash pitfall which they have discovered themselves in.

 

Given that, depending upon the scale of the project, it can take up to 60 days for some establishments to get paid then it is very important to take care of your own back and certainly not leave yourself money short to pay off the bills. After all, how many businesses have two months income just lying there to deal with all their costs till they make money?

 

This is especially correct of trucking enterprises. They tend to take care of numbers of statements which means a considerable amount of collection time concerns business owner themselves. Seeking to get paid promptly can end up being an extraordinary trouble and this is the reason why you use truck factoring organizations who are delighted to help out truckers particularly.

 

As most of us realize, trucking is an remarkably massive industry with a lot of companies out there hiring hundreds of vehicle drivers. Unfortunately, numerous of these drivers end up in money predicaments given that they are still waiting for work from six weeks back to actually compensate them. When this is the case for a trucking firm, depending on factoring companies for aid might be the most suitable choice left.

 

This indicates that a trucking business can provide the paychecks of the staff, keep all the vehicles topped off with gas and continue to surmount, grow and expand without continually waiting for the funds which is taking too lengthy to come in. Trucking Business enterprises running without a factoring system implemented are leaving themselves at considerable danger, as competitors cash out rapidly and continue to broaden.

 

There's absolutely not a thing to be troubled about when it comes to employing a Factoring company-- they usually are not like a banking company or somebody who is going to leave you with a considerable stack of financial obligation to pay back. You give them genuine invoices from work you have already finished , you are only expediting the payment system.

 

In the Usa, where truck firms do well, factoring agencies are not considered borrowing in any capacity. This confidential settlement then lets both parties to profit and indulge in a good future-- it provides the factoring company a secured asset of revenue to put into the list and it offers the trucking business the needed cash that they worked hard to get.

 

The trucking enterprise gives their statements to the factoring establishment. The trucking factoring firm then collect the payment amounts from the trucking company's clients. Factoring has been in existence for hundreds of years and has been utilized for several years by plenty of varying markets-- but none exceeding so than truckers. While you might possibly miss out on a small part of the money, something like 1-3 % depending on who you partner with, it indicates that you are obtaining the resources today and can actually start putting the money to perform.

 

Once and for all, an IOU or an invoice is definitely not going to fund expenditures, is it? For trucking agencies when the funds can be great 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 significant quantity of time and money to get through the week up until they are paid once again.

 

So the next moment your trucking business is enduring some momentary cash flow dilemmas and you are devoting excessive time chasing sluggish paying clients, why not begin thinking about employing a factoring companies as a method to get your cash and give yourself a more pleasant future in the eyes of your trucking team and your bank dividend?

 

 

 

 

 

 

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Traditional Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. These loans can be a life-saver, but they're not always available to every business. 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 give loans, and the money you get from the Trucking Factoring company does not put you in debt. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. 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 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. There is no debt. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. 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 great benefit of using the services of a Trucking Factoring company instead of a bank loan is that there is no collateral required for the Trucking Factoring company, because the Trucking Factoring company is buying your accounts receivables. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This means that it is easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.

 

3. Receive Your Money Faster. Using a Trucking Factoring company means that you'll get the finance quicker. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been 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. 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 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 good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

In addition, since the Trucking Factoring company evaluates the credit quality of your customers prior to purchasing the accounts receivable you gain valuable information into which customers are likely to pay and which ones are not so likely to pay.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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