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They Grinned When the Banker Spoke to Me in French - Our Receivable Loan Company Can Give
Your Freight Company The Money Your Company Needs

factorinvoices.org

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factoring services for trucking companies

Small trucking companies, particularly those who have not been in existence for very long, will frequently find it hard to protect a loan. Banks are often hesitant to lend cash to businesses that do not have a great deal of earnings and assets. They likewise desire proof of the viability of a company and hence need that many operations, particularly little ones, be in business for a particular amount of time prior to they are willing to hand over any money. Since of this, a medium-size business commonly has a couple of cash creating alternatives when requires emerge. One alternative available, however frequently overlooked, is invoice factoring. This is an exceptional way for a small business to obtain money.

 

 

 

 

 

 

 

Profits That Lie Hidden In Your Company - Pick A Factoring Company Instead Of A Regular Bank Funding

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

At one time or another, every company, even effective ones, have experienced bad money flow.

Money flow does not have to be an issue any more. Do not be deceived -- banks are not the only places you can get funding. Other solutions are offered and you do not have to borrow. Exactly what is trucking factoring ? One option is called trucking factoring. Truck Factoring is the process of offering invoices to an investor rather than waiting to collect the cash from the customer. Oh, the Irony- Truck factoring has an ironic difference: It is the monetary foundation of many of America's most successful companies. Why is this paradoxical ? Since receivable financing is not instructed in business colleges, is seldom discussed in company strategies and is relatively unidentified to the majority of most of American business people.

Yet it is a monetary procedure that frees billions of dollars every year, enabling thousands of businesses to grow and prosper. FACTORING has actually been around for countless years. Trucking Factoring Businesses are financiers who pay money for the right to get the future payments on your invoices. An unpaid receivable or invoice has value. It is a debt your customer has actually to pay in the near future. Factoring Principals--Although factoring deals solely with business-to-business transactions, a large portion of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail deals. Utilizing the purest definition of the word, these big customer finance companies are really simply large Invoice Factoring Companies of customer paper. Consider it: You make a purchase at Sears and charge it to your MasterCard. The store gets paid almost immediately, although you do not make payment up until you are prepared.

For this service, the charge card company charges Sears a charge (typical common normal charges range from 2 to 4 percent of the sale). The Advantages Truck Factoring can offer numerous advantages to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on a product that has actually currently been provided, a company can factor (sell) its receivables for cash at a small price cut off the amount of the invoice. Payroll, marketing efforts, and working capital are just a few of the company needs that can be met with instant  money.

Staffing Factoring offers the ways for a manufacturer to renew stock and make even more products to sell: There is no longer a requirement to await for earlier sales to be paid. Receivable Loan Financing is not simply a cash management tool for producers: Almost any type company can benefit from Factoring. Typically, a business that extends credit will have 10 to 20 percent of its annual sales tied up in invoices at any given time. Think for a moment about exactly how much is bound in 60 days' worth of invoices: You can not pay the power expense or today s payroll with a customer s invoice, but you can offer that invoice for the cash to meet those responsibilities. Using trucking factoring companies is a fast and easy process. The factoring company purchases the invoice at a price cut, usually a few percentage points less than the face value of the invoice.

 

 

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The United states Trucking Association
mentions that there are about
195,000 work with freight trucking
companies and
276,000 private service providers trucking
firms accredited to
operate in the U.S. that transferred,
according to their newest listings of millions of
items, supplies and
fundamental materials .
There are numerous common
providers either going solo or in
teams on our nation
highways carrying these
crucial products to our
stores, manufacturingplants and harbors.

Plus truck factoring
firms support
numerous of them and offer their
factoring services
nationallyincluding
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

 

Charlotte has become a major U.S. financial center and is now the second largest banking center in the United States (after New York).[] The nation's second largest financial institution by assets, , calls the city home. The city was also the former corporate home of Wachovia until its 2008 acquisition by in San Francisco CA; with the two banks fully merged at the end of 2011, which included transitioning all of the branches in the Carolinas to o branches by October 2011. Since then, Charlotte became the regional headquarters for East Coast Operations of , which is headquartered in San Francisco, California. Charlotte also serves as the headquarters for capital markets activities including sales and trading, equity research, and investment banking. headquarters, along with other regional banking and financial services companies, are located primarily in the Uptown central business district.Charlotte has eight Fortune 500 companies in its metropolitan area, listed in order of their rank: was headquartered in Charlotte.Carowinds Amusement Park, owned by Cedar Fair Entertainment Company is located in Charlotte.Charlotte is the major center in the U.S. motorsports industry, housing multiple offices of industry's race teams, employees and drivers are based nearby. The large presence of the racing technology industry along with the newly built , is iuencing other top professional drag racers to move their shops to Charlotte as well. The Metrolina Speedway is expected to bring more local racing along with a skate park, shoppes, restaurants, and an cale hotel.Located in the western part of Mecklenburg County is the U.S. National Whitewater Center, which consists of man-made rapids of various degrees and is open to the public year round. One Center behind the in Uptown CharlotteThe Charlotte Region has a major base of energy-oriented organizations and has become known as �Charlotte USA � The New Energy Capital.� In the region there are more than 240 companies directly tied to energy sector collectively employing more than 26,400. Since 2007 more than 4,000 energy sector jobs have been announced. Major energy players in Charlotte include The University of North Carolina at Charlotte has a reputation in energy education and research and its Energy Production and Infrastructure Center (EPIC) trains energy engineers and conducts research.The area is an increasingly growing trucking and freight transportation hub for the East Coast. The Charlotte Center city has seen remarkable growth over the last decade. Numerous residential units continue to be built uptown, including over 20 skyscrapers under construction, recently completed, or in the planning stage. Many new restaurants, bars and clubs now operate in the Uptown area. Several projects are transforming the Midtown Charlotte/Elizabeth area.In 2013, named Charlotte among its list of Best Places for Business and Careers. Charlotte has also been listed as the #20 largest city in the US, and the #60 fastest growing city in the US between 2000-2008.

 

 

View Our Trucking Factoring Companies YouTube Videos For More Information

 

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

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.

 

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

 

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.

 

Click below to find Trucking Companies in the United States:

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

 

"

Harrison Truck & Haul have been operating their business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the heady times from 2002 to 2007, Harrison was a top rated accounts receivable mastermind of the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. Cash was flowing and times were good for all.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed to a crawl

 

. And worse yet, Harrison 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. And as spring turmed to summer and summer into the early days of fall, Marvin Stone, CEO of Harrison felt a chill go down his spine whenever he would look at the weekly A/R reports. The number of clients who were late in their payments was continuing to grow.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? 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 Harrison 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. The had just gone!.This current state-of-affairs was causing Marvin Stone to have some very restless nights. Marvin 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. At night he would speak to his wife Wendy and shake his head in frustration.

 

""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would say.Marvin 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 on the road, delivering good to all his loyal customers. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What on earth was happening to create the death of his business?""I think I know what it could be,"" said Marvin. ""I've relied too long on the profits I receive from invoices alone. I've let too many of our customers go too long without paying on their bills."" All Wendy could do was hold his hand and look at him tenderly. 'We know it is a difficult economy at the moment - perhaps it will take a while for people to get on top of their bills'.""Marvin knew very well that Wendy was only trying to help, but his responsibilities weighed heavily on his shoulders and he knew he had better do something soon to resolve this situation.The next day Marvin strolled into his office and was determined to sit down and make every phone call to every client who had owed Harrison money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Marvin knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. Wasting money, wasting time - even with the best of intentions, Marvin 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 Florenceerley knocked at his door.

 

""Can I have a word with you Marvin?"" she asked standing in the doorway.

 

""Of course Florence, please come in."" Marvin leaned back in his chair and looked expectantly at Florenceerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Marvin."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard of factoring?"" Florenceerley asked.""It sounds vaguely familiar. What is it?"" he said.She began, ""Well, it is really very simple. So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Marvin interrupted ""Immediately?"".""Immediately, yes"" she added, ""it is actually very simple. We start by having a professional account manager review our figures and help us set up 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.""Marvin replied cautiously ""I see - and what happens then?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. There�s a lot of flexibility depending on the business volume and credit histories. 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.�Leaning forward, Marvin studied the documents very closely.""I do not know, Florence - it just sounds too good to be true"", Marvin said quietly.""Now, now, I know, I thought the same thing. But think about it, Marvin: 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, Marvin,"" she underlined a paragraph on the paper 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.

 

""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. 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,"" Marvin said.He took a deep breath and looked at his secretary with something she recognized as hope.""Exactly�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Marvin thought about this and agreed with Florenceerley. The customers who were in debt to Harrison Truck & Haul were professional resources of the company, but they were also long-standing friends. Just because they were experiencing difficulties paying their own bills now, Marvin was very concerned about losing these relationships. Marvin 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. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. He did not want to lose business but he also did not want to lose any more money.""Well, let me think about this tonight Florence, thank you."" Florence nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Marvin keep the shirt on his back, and possibly hers too.Marvin stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. He wondered if there might be other problems freight factoring could help Harrison 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. Marvin was surprised: it said that his company could get up to fifty percent cash advances on load pickups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""I must tell Armando the good news,"" Marvin muttered to himself.Marvin's son-in-law, Armando, loved the idea behind Harrison 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. At that time Marvin knew the struggles Armando would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Harrison was struggling then the little guys, like Armando, were going to be in even more trouble.

 

But, an antidote may have been found in freight factoring and Marvin was soon to find out.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Marvin 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 took that time and refocused effort to offering competitive prices in new territories. Marvin recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. He probably wouldn't be in business today had he not learned just in time about freight factoring.

 

"

 

Charlotte has become a major U.S. financial center and is now the second largest banking center in the United States (after New York).[] The nation's second largest financial institution by assets, , calls the city home. The city was also the former corporate home of Wachovia until its 2008 acquisition by in San Francisco CA; with the two banks fully merged at the end of 2011, which included transitioning all of the branches in the Carolinas to o branches by October 2011. Since then, Charlotte became the regional headquarters for East Coast Operations of , which is headquartered in San Francisco, California. Charlotte also serves as the headquarters for capital markets activities including sales and trading, equity research, and investment banking. headquarters, along with other regional banking and financial services companies, are located primarily in the Uptown central business district.Charlotte has eight Fortune 500 companies in its metropolitan area, listed in order of their rank: was headquartered in Charlotte.Carowinds Amusement Park, owned by Cedar Fair Entertainment Company is located in Charlotte.Charlotte is the major center in the U.S. motorsports industry, housing multiple offices of industry's race teams, employees and drivers are based nearby. The large presence of the racing technology industry along with the newly built , is iuencing other top professional drag racers to move their shops to Charlotte as well. The Metrolina Speedway is expected to bring more local racing along with a skate park, shoppes, restaurants, and an cale hotel.Located in the western part of Mecklenburg County is the U.S. National Whitewater Center, which consists of man-made rapids of various degrees and is open to the public year round. One Center behind the in Uptown CharlotteThe Charlotte Region has a major base of energy-oriented organizations and has become known as �Charlotte USA � The New Energy Capital.� In the region there are more than 240 companies directly tied to energy sector collectively employing more than 26,400. Since 2007 more than 4,000 energy sector jobs have been announced. Major energy players in Charlotte include The University of North Carolina at Charlotte has a reputation in energy education and research and its Energy Production and Infrastructure Center (EPIC) trains energy engineers and conducts research.The area is an increasingly growing trucking and freight transportation hub for the East Coast. The Charlotte Center city has seen remarkable growth over the last decade. Numerous residential units continue to be built uptown, including over 20 skyscrapers under construction, recently completed, or in the planning stage. Many new restaurants, bars and clubs now operate in the Uptown area. Several projects are transforming the Midtown Charlotte/Elizabeth area.In 2013, named Charlotte among its list of Best Places for Business and Careers. Charlotte has also been listed as the #20 largest city in the US, and the #60 fastest growing city in the US between 2000-2008.

 

 

More Trucking Factoring Companies Story Articles

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

 

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

 

There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. He had employees to pay. They had families and household bills too. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. Every time he had to turn down a request, Reynolds Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Curtis allowed himself a good hard chuckle. His father had been against placing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� 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.

 

Curtis believed a successful man is always thinking of his next step. What would be the next step for Reynolds Trucking? More importantly, how could he 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? There was a lot he didn�t understand about the process. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Now it was time for Curtis to do his homework. Curtis 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! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

But it turned out to be quite easy. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. 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. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. He was more than happy with the figures he was offered in percentage terms on the freight bills. It was good money.

 

It was really refreshing dealing with the factoring people. They were more personable than those loan managers at the bank. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies didn�t worry over his credit and the debt troubles his father had had in the past of the company. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Curtis 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 Reynolds 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, Curtis 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, Curtis could actually expand Reynolds Trucking Company further across the country and perhaps even go international into Canada. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

 

 

Watch Our Factoring Video For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� William Patterson asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from William smiled at him, shaking her head.�No, not exactly,� she said.William 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 Bobby. His company was called Hicks Trucking, named after both of his grandfathers, Salvador and Sean. They had both been hardworking men, and had done a lot to make William the same.Six months ago disaster struck Bobby'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. The financial security of Bobby's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.A big problem a lot of trucking companies came across was how bills were paid in the industry. You could go a month or more before bills were completely paid off. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.William 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.That�s where the woman across the desk came in. William knew she was employed by a Factoring company and that her name was Viola. William had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.She sat there now, and explained. �It�s not a loan, we purchase your accounts receivable. we 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.William nodded. It sounded perfect - perhaps too good?.Viola laughed. �I'm not sure that you 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.�Viola nodded. �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.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� Viola said with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

William filled the form out, with Viola available to help him if he needed it. The completed profile gave Viola and her company all the information they needed on Bobby's business, and with this information they would determine if this business would in fact be 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. Listening as William filled out his form, Viola was pretty sure he was a perfect candidate for factoring.Viola took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Bobby�s hand. He also stood up, and they smiled at each other. William walked Viola 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 Viola and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.The long nights, where he couldn�t sleep. The terrifying panic attacks that occurred regardless of where he was. Already he could feel all the stress start to drain away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was there, he was on the right path, and he was working to make things right.His mind wandered back to the very beginning, when he first started his business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been really successful. Offering home cooking in his own hometown, his business had really prospered.But he had gotten bored. His passion didn�t lie with the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took six months off, and during that time he decided to create Hicks Trucking. So he did it. Once again he built a company from the ground up. He had been successful.And then the trucks went down, and his success looked to be in flux. He was nearing fifty. He was concerned that he just did not have the energy left to try and save the business. But giving up wasn't part of his personality either.

 

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. Bobby's eyes opened, he sat forward in his chair and turned on his computer. He had lots to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

The reason why Trucking Establishments Work with Factoring Firms.

 

As the owner of your own business enterprise, you may perhaps be more than perceptive already of the challenge in making certain that capital matters do not become a dilemma down the line. After all, the most horrible thing that can quite possibly occur for your business is to find yourself embroiled in a long and problematic circumstance that leaves you forever looking for the money you need on an continuing manner.

 

For any kind of company in this circumstance, the trouble can come for waiting for work to clear up and actually be brought in into your balance. Invoices, checks, and the like can take a while to actually to beprocessed which may leave you with short-term capital dilemmas. Fortunately, there are alternatives out there for businesses to look into-- and just one of these is factoring companies.

 

Factoring firms will, in substitution for your statements, give you with the cash money today in order that you do not need to worry about the waiting period that could make paying out the bills and acquiring toolsmore complicated. With this sort of arrangement, invoice factoring can end up being remarkably practical for countless businesses who need to avoid a cash ploy which they have gotten themselves in.

 

For the reason that, basing on the scale of the project, it can take up to 60 days for several businesses to get paid out then it is essential to cover your own back and definitely not leave yourself money short to pay off the monthly bills. After all, how many enterprises have two months income just lying there to deal with all their expenses till they earn?

 

This is particularly true of trucking firms. They usually manage bunches of statements which means a huge amount of collection time entails company owner themselves. Attempting to get paid off promptly can come to be an incredible hassle and this is precisely why you make use of truck factoring companies who are glad to help out truckers mainly.

 

As all of us recognize, trucking is an surprisingly huge market with many agencies out there handling hundreds of vehicle drivers. Regretfully, numerous of these drivers wind up in income problems because they are still expecting work from six weeks earlier to actually pay them. When this is the circumstance for a truck organization, resorting to factoring providers for aid may be the ideal choice left.

 

This implies that a trucking organization can pay off the paychecks of the people, keep all the vehicles refilled with fuel and continue to go up, flourish and expand without constantly waiting for the income which is taking too prolonged to come in. Trucking Establishments working without a factoring system implemented are leaving themselves at considerable threat, as competitors cash out promptly and proceed to grow.

 

There's genuinely very little to be distressed about when it comes to employing a Factoring company-- they usually are not like a bank or any individual who is going to leave you with a big mound of liability to pay back. You give them genuine invoices from job you have already wrapped up , you are simply speeding up the repayment system.

 

In the Usa, where truck agencies grow, factoring agencies are not considered getting a loan in any capacity. This confidential agreement then permits both parties to make money and indulge in a convenient future-- it gives the factoring business a secured resource of income to add to the list and it gives the trucking business the needed finances that they worked hard to get.

 

The trucking enterprise provides their invoices to the factoring business. The trucking factoring firm then obtain the installment payments from the trucking company's clients. Factoring has been all around for hundreds of years and has been adopted for decades by plenty of varied markets-- but none much more so than truckers. While you might miss out on a small part of the money, something like 1-3 % depending on who you partner with, it means that you are acquiring the money today and can actually start putting the money to perform.

 

Once and for all, an IOU or an invoice is absolutely not going to pay for expenditures, is it? For trucking companies when the hard earned cash can be good one day and gone the next, it is up to the drivers to work sensibly and to make sure that they are leaving themselves with a significant volume of time and money to get through the week until they are paid for again.

 

So the next instance your trucking company is enduring some momentary capital problems and you are putting in a bit too much time chasing slowly paying clienteles, why not start considering making use of a factoring companies as a means to get your finances and give yourself a more worry-free future in the eyes of your trucking crew and your bank dividend?

 

 

 

 

 

 

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Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. 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.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not offer loans, and you do not go into debt when you get money from a Trucking Factoring company. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of 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.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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

 

1. There is no debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

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

 

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

 

4.Interest is Paid 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. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. Since these accounts belong to the Trucking Factoring company, this is now their job. 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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