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Six Types of Companies - Which Group Are You In? - Our Freight Invoice Factoring Company Can Provide
Your Truck Company The Money Your Company Needs

businessfinanceresource.org

factoring truck loads

trucking invoice factoring companies

factoring transportation brokers

best trucking factoring

Small freight brokerage businesses, specifically those who have not been around for extremely long, will typically discover it tough to secure a loan. Banks are commonly hesitant to lend cash to companies that do not have a lot of earnings and possessions. They likewise want evidence of the viability of a company and thus require that a lot of operations, particularly little ones, been around for a particular amount of time prior to they want to hand over any money. Because of this, a medium-size company frequently has a couple of cash producing options when needs arise. One alternative offered, however typically ignored, is invoice factoring. This is an exceptional means for a small business to obtain money.

 

 

 

 

 

 

 

Check the Kind of Bank Account You Want - Pick A Trucking�Factoring Company  Instead Of A Typical Bank Financing

How to Increase Money Flow Without Loaning -Cash Money flow is one of the main reasons companies fail.

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

Cash flow does not have to be an issue any more. Do not be fooled -- banks are not the only places you can get funding. Other solutions are available and you do not have to borrow. What is truck factoring ? One option is called trucking factoring. Truck Factoring is the procedure of offering invoices to a financier rather than waiting to collect the money from the client. Oh, the Irony- Truck factoring has an ironic difference: It is the monetary backbone of numerous of America's most successful businesses. Why is this ironic ? Since invoice factoring is not taught in business colleges, is seldom mentioned in business plans and is fairly unknown 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. Commercial Factoring has been around for thousands of years. Truck Factoring Companies 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 client has actually to pay in the near future. Factoring Principals--Although factoring offers solely with business-to-business deals, a large portion of the retail company uses a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail deals. Utilizing the purest meaning of the word, these large customer finance companies are truly simply big Trucking Factoring Companies of consumer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The store gets paid practically instantly, although you do not pay up until you are prepared.

For this service, the credit card company charges Sears a fee (typical common normal fees range from two to four percent of the sale). The Advantages Accounts Receivable Factoring can provide numerous benefits to cash-hungry business. Instead of waiting 30, 60, 90 days or longer for payment on a product that has actually already been delivered, a company can factor (sell) its receivables for cash at a little price cut off the dollar value of the invoice. Payroll, advertising efforts, and working capital are just a few of the company needs that can be satisfied with instant  money.

Accounts Receivable Factoring offers the ways for a producer to renew inventory and make more items to sell: There is no longer a requirement to await for earlier sales to be paid. Receivable Loan Financing is not simply a money management tool for manufacturers: Almost any kind company can take advantage of Commercial Factoring. Typically, a business that extends credit will have 10 to 20 percent of its yearly sales tied up in invoices at any given time. Think for a minute about exactly how much is bound in 60 days' worth of invoices: You can not pay the power expense or this week s payroll with a client s invoice, but you can offer that invoice for the money to meet those responsibilities. Using truck factoring companies is a quick and easy procedure. The factor purchases the invoice at a price cut, usually a couple of portion points less than the stated value of the invoice.

 

 

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mesa-factoring-companies

 

The U.s. Transportation Organization
mentions that there are about
195,000 truck drivers with freight trucking
businesses and
276,000 personal companies trucking
companies licensed to
run in the U.S. that carried,
according to their newest data of millions
products, supplies and
standard materials .
There are several usual
carriers either going solo or in
groups on our country
roadways transporting these
crucial products to our
shops, factories and shipping ports.

Furthermore trucking factoring
companies benefit
several of them and offer their
factoring services
countrywidecomprising
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

 

"

Mesa has over 2,280 acres of parkland in the city limits. Mesa's largest park is Red Mountain Park which spans 1,146 acres. It includes a lake, playgrounds, a basketball court and a cement volleyball court.Golf[edit]Mesa is home to numerous championship golf courses, including the original course in town, Mesa Country Club (www.mesacountryclub.com). This course was founded in the late 1940s by the original leaders of the town, and ""Country Club Drive"" - the most prominent street in Mesa - was at one point the modest entrance to the club.West Mesa[edit]Main articles: Fiesta Mall and Mesa RiverviewThe Fiesta Mall is located in West Mesa, and owned by Westcor. It is located near several shopping centers, Mesa's , and other retail stores, banks, and restaurants. An expansion of Fiesta Mall has been planned.Mesa Riverview is a new outdoor destination retail center in the northwestern corner of the city, near Loop 202 and Dobson Road. At build-out the center will include of 1,300,000 square feet (120,000 m2) of retail space. in the State of Arizona and is a suburb located about 20 miles (32 km) east of Phoenix. Mesa is the central city of the East Valley section of the Phoenix Metropolitan Area. It is bordered by Tempe on the west, the Salt River Pima-Maricopa Indian Community on the north, Chandler and Gilbert on the south, and Apache Junction on the east. As of the 2010 Census Mesa became Arizona's center of population.Mesa is the third-largest city in Arizona, after Phoenix and Tucson. and the 38th-largest city in the US. The city is home to 439,041 people as of 2010 according to the Census Bureau. Mesa is home to numerous higher education facilities including Polytechnic campus of Arizona State University.

 

"

 

View Our Factoring YouTube Video For More Information

 

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

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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

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

 

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.

 

 

"

Cox 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 boom times from 2002 to 2007 Cox Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. Times were great for everyone, and the cash was flowing.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed to a crawl

 

. Worse still, it was noticed by Cox in early 2008 that even though most of their loyal customers were on time with their payments, there were a few late bloomers who were starting to spread the disease. And as spring turmed to summer and summer into the early days of fall, Nicholas Ray, CEO of Cox felt a chill go down his spine whenever he would look at the weekly A/R reports. There was a growing list of clients who now owed them back debt.He had already been to the administrators to ask what the actual problem was. Were they doing something wrong or different when it came to reaching out to delinquent accounts? When checking his bookkeeper's records this was definitely not the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. 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 Nicholas Ray to have some very restless nights. Nicholas 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 Judith and shake his head in frustration.

 

""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""What could you do differently?"" she would ask.Nicholas would stare off for a moment and then close 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 somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. What could cause this ultimate death spiral of business?""I think I know what it could be,"" Nicholas said. ""I've relied too long on the profits I receive from invoices alone. For too long I've been allowing our clients to let their accounts become overdue."" All Judith 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'.""Nicholas knew his wife meant well, but he knew that he was responsible for too many people to sit idly by, waiting for the sun to peak over the clouds.The following day Nicholas walked into his office with a spring in his step, determined to call each and every client who owed money to Cox Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Nicholas knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. A waste of time - a waste of money - he had the best intentions, but all the while Nicholas was realising just how much trouble he was in.After a half day of contacting debtors in vain - they dodged his calls or promised to call back at worst or made minimal interest-only payments at best - he was about to throw in the towel when his secretary Gloriaerley knocked at his door.

 

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

 

""Of course Gloria, please come in."" Nicholas leaned back in his chair and looked expectantly at Gloriaerely.""Well Nicholas, this afternoon I did some research, trying to work out how we are going to get out of this mess."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard the word factoring?"" Gloriaerley asked.""It sounds vaguely familiar. What is factoring""? he asked.She began, ""Well, it is really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Immediately?"" Nicholas interrupted.""Immediately, yes"" she added, ""In a nutshell, it is pretty easy. We start by having a professional account manager review our figures and help us set up a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It�s a broad view.""Nicholas replied cautiously ""I see - and what happens then?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

The company will advise us the cost to purchase factoring for our company's accounts receivable. The funding commences once we�ve arrived at an agreement.�Nicholas leaned forward and reviewed the paperwork closely.""I do not know, Gloria - it just sounds too good to be true"", Nicholas said quietly.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Nicholas: 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, Nicholas,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" asked Nicholas.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. 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 Nicholas.He took a deep breath and looked at his secretary with something she recognized as hope.""Precisely�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Nicholas thought about this and agreed with Gloriaerley. The customers who were in debt to Cox Truck & Haul were professional resources of the company, but they were also long-standing friends. Nicholas wasn't prepared to lose these relationships just because they were having financial issues at the moment. Nicholas 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. He did not want to lose business but he also did not want to lose any more money.""Let me go over this tonight Gloria, and thankyou."" Gloria stood up and left Nicholas's office, with the nice feeling of knowing that she may just have solved a very serious problem.Nicholas 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 Cox 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. Nicholas was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Nicholas was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""I must tell Peter the good news,"" Nicholas muttered to himself.Nicholas's son-in-law, Peter, loved the idea behind Cox 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 Nicholas knew the struggles Peter would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Cox was struggling then the little guys, like Peter, 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 months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Nicholas 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. Nicholas 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.

 

"

 

"

Mesa has over 2,280 acres of parkland in the city limits. Mesa's largest park is Red Mountain Park which spans 1,146 acres. It includes a lake, playgrounds, a basketball court and a cement volleyball court.Golf[edit]Mesa is home to numerous championship golf courses, including the original course in town, Mesa Country Club (www.mesacountryclub.com). This course was founded in the late 1940s by the original leaders of the town, and ""Country Club Drive"" - the most prominent street in Mesa - was at one point the modest entrance to the club.West Mesa[edit]Main articles: Fiesta Mall and Mesa RiverviewThe Fiesta Mall is located in West Mesa, and owned by Westcor. It is located near several shopping centers, Mesa's , and other retail stores, banks, and restaurants. An expansion of Fiesta Mall has been planned.Mesa Riverview is a new outdoor destination retail center in the northwestern corner of the city, near Loop 202 and Dobson Road. At build-out the center will include of 1,300,000 square feet (120,000 m2) of retail space. in the State of Arizona and is a suburb located about 20 miles (32 km) east of Phoenix. Mesa is the central city of the East Valley section of the Phoenix Metropolitan Area. It is bordered by Tempe on the west, the Salt River Pima-Maricopa Indian Community on the north, Chandler and Gilbert on the south, and Apache Junction on the east. As of the 2010 Census Mesa became Arizona's center of population.Mesa is the third-largest city in Arizona, after Phoenix and Tucson. and the 38th-largest city in the US. The city is home to 439,041 people as of 2010 according to the Census Bureau. Mesa is home to numerous higher education facilities including Polytechnic campus of Arizona State University.

 

"

 

More Trucking Factoring Companies Story Articles

"

Factoring in the Future of a Trucking Business: A Story The phone was ringing on his desk, and Sam Lawrence just sat there letting it ring. 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. Lawrence Trucking Company was at a turning point of growth and Sam had to decide if signing with a factoring company was the right way forward.

 

More than forty years ago Sam's father had started this business working as an owner-operator and eventually growing Lawrence Trucking Company into a fifteen trailer fleet. There had been some hard times when it seemed everything was going to go under and even Sam�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. But now things were different: the company was in Sam's hands and he needed to ensure that this business would be left in great shape for his sons.

 

To move Lawrence Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. He had employees to pay. They had families and household bills too. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. He knew that turning down these requests made Lawrence 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. Sam 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.

 

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

 

But was factoring the answer? If he was being honest, he did not really understand how it all worked. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without 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.

 

Sam had to really consider what his next step was going to be. Sam 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! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. 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. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It was good money.

 

For Sam it was quite a relief to be dealing with the factoring company. They were extremely helpful and more personable than the bank staff. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies were not interested in his credit nor the financial problems his father had experienced in the past. Factoring was based on the credit of his customers and on their reliability which worked well for Sam because he and his father had built up good strong relationships over decades with their list of clients. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients would not have any problems, nor would they think poorly of Lawrence 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.

 

Sam stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. He suddenly realized that, with this new cash flow, he could actually expand Lawrence 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.

 

"

 

 

View Our Trucking Factoring Companies Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So, this is not a loan?� Russell Stewart asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Russell smiled at him, shaking her head.�Not quite,� she said.Russell 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 Greg. His company was called Obrien Trucking, named after both of his grandfathers, Earl and Bobby. They had both been hardworking men, and had done a lot to make Russell the same.Disaster had struck half a year ago, when two trucks in Greg�s fifteen truck fleet went down. 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 Greg'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. Waiting a month or longer for bills to be paid was quite normal. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Russell was an excellent business man, and he certainly hadn't done anything wrong. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.And that's why he found himself across the desk from this woman. Russell knew she was employed by a Factoring company and that her name was Dorothy. He had accidentally come across her company one night when he was working late, searching the internet to see if there was some solution to his financial dilemma.Dorothy 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.Russell nodded. It sounded perfect - perhaps too good?.Dorothy laughed. �I'm not sure that you believe me,� she chuckled.�Oh no, I do: it just sounds too good to be true. I actually thought I might end up losing my business.�Dorothy smiled, agreeing. �We get that a lot. There's no way we want to see you lose your business. We know how hard you work, and that you've invested everything in your business. Sometimes you need help. That�s what we�re here for.""In any case, thank you for coming to see me.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� said Dorothy with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.

 

Russell completed the form, with Dorothy offering advice as needed.

 

The completed profile gave Dorothy and her company all the information they needed on Greg'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 Russell filled out his form, Dorothy was pretty sure he was a perfect candidate for factoring.When the form was done Dorothy took it and slid it into her briefcase. She then stood, reached across the desk and shook Greg�s hand. He also stood up, and they smiled at each other. Russell walked Dorothy to the door where they said 'Goodbye', then he went back into his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.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 Dorothy 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.Russell couldn�t help but think back to when he had first started the business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been successful. Offering home cooking in his own hometown, his business had really prospered.But he had gotten bored. He wasn't passionate about the food industry. He thought long and hard, and then he decided to sell the restaurant. He took half a year off, and in that time he thought to start Obrien 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 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. Russell opened his eyes, sat forward, turned his computer on. 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.

 

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More Trucking Factoring Company Story Articles

The reason why Trucking Establishments Employ Factoring Firms.

 

As the manager of your own firm, you may likely be much more than conscious already of the hardship in making sure that capital issues do not become a problem down the line. After all, the toughest thing that can possibly occur for your firm is to find yourself embroiled in a long and complicated circumstance that leaves you forever trying to find the resources you necessitate on an recurring manner.

 

For any type of company in this case, the dilemma can come for waiting for work to clear up and actually be provided into your bank account. Statements, checks, and the like could take some time to actually to be taken care of which can easily leave you with temporary capital difficulties. Thank goodness, there are options out there for companies to explore-- and one of these is factoring firms.

 

Factoring agencies will, in exchange for your invoices, grant you with the cash money today to ensure you do not need to fret about the delaying duration that could make paying out the expenses and obtaining materialsmore complicated. With this style of setup, invoice factoring can come to be extraordinarily practical for numerous enterprises who ought to avoid a money trap which they have discovered themselves in.

 

Because, depending on the volume of the work, it can take up to 60 days for some establishments to get paid out then it is necessary to blanket your own back and not leave yourself money short to pay the expenses. After all, how many businesses possess two months cash flow just lying there to handle all their bills till they make money?

 

This is specifically true of truck firms. They often handle bunches of statements which means a significant amount of collection period demands company owner themselves. Attempting to get paid off in time can eventually become an amazing difficulty and this is precisely why you make use of trucking factoring providers who are thrilled to help out truckers particularly.

 

As most of us recognize, trucking is an incredibly big industry with countless agencies out there utilizing hundreds of operators. However, many of these drivers land up in cash difficulties for the reason that they are still waiting on work from six weeks back to actually pay them. When this is the situation for a truck business, consulting factoring providers for aid may be the most suitable option left.

 

This signifies that a truck corporation can provide the salaries of the workers, keep all the trucks filled with fuel and continue to surmount, develop and expand without consistently waiting for the funds which is taking too long to come in. Trucking Business enterprises functioning without a factoring system applied are leaving themselves at critical risk, as rivals cash out rapidly and continue to grow.

 

There's genuinely almost nothing to be distressed about when it comes to utilizing a Factoring agency-- they usually are not like a bank or a person who is going to leave you with a large stockpile of liability to pay back. You give them legitimate invoices from job you have already finalized , you are simply expediting the repayment process.

 

In the Usa, where truck firms do well, factoring companies are not considered borrowing in any capacity. This confidential arrangement then permits both groups to make money and indulge in a convenient future-- it provides the factoring company a guaranteed asset of money to put into the list and it provides the trucking business the needed money that they sweated to get.

 

The trucking enterprise gives their accounts to the factoring business. The trucking factoring company then acquire the payments from the trucking company's customers. Factoring has been all around for centuries and has been adopted for many years by several different business-- but none much more so than truckers. While you may lose out on a small part of the money, something like 1-3 % depending upon who you collaborate with, it means that you are receiving the cash today and can actually start putting the cash to work.

 

Once and for all, an IOU or an invoice is not going to cover bills, is it? For trucking firms when the income can be great one day and gone the next, it is up to the vehicle drivers to work smartly and to make sure they are leaving themselves with a substantial amount of time and finance to get through the week up until they are handed over once again.

 

So the next period your trucking company is bearing some temporary cash flow troubles and you are shelling out excessive time chasing sluggish paying customers, why not begin looking at utilizing a factoring companies as a method to get your finances and give yourself a more worry-free future in the eyes of your trucking personnel and your bank difference?

 

 

 

 

 

 

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Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. While these loans are handy they are not available to every business. 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. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Once the loan is paid off, you can then apply for another loan if the need arises.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not 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.

 

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

 

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

 

1. 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. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

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

 

3. Receive Your Money Faster. With a Trucking Factoring company you can actually get the money you need faster. 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 not only are you relieved of those monthly loan payments, but you also do not have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. 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 efficient at debt collecting, and this frees up your valuable time to devote to running your 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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Factoring Companies by City

New York City

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Chicago


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Philadelphia


Phoenix


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Dallas


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Austin


Jacksonville


Indianapolis


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Columbus


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Charlotte


Detroit


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Boston


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Louisville/Jefferson


Portland


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Virginia Beach


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Colorado Springs


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New Orleans

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Newark

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Jersey

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North Las Vegas

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Gilbert town

San Bernardino

Boise

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Rochester

Richmond

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Philadelphia

 

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