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What Your Banker Doesn't Want You to Know - Our Trucking Factoring Company Can Provide
Your Truck Company The Money You Want

businessfactoring.org

trucking invoice factoring companies

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best factoring companies for trucking

Factoring invoices is beneficial for several reasons. It enables a truck company to raise money without obtaining new debt. While debt is often essential, the majority of freight brokerage would choose to raise cash without obtaining cash. Debt is high-risk, and when it can not be paid back, possessions can be repossessed. If the debt is huge enough, it may even require a truck businesses out of business.

 

 

 

 

 

 

 

How Much is Your Cash Flow "Tension" Costing Your Company - Choose The Best Factoring Company Instead Of A Regular Bank Financing

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

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

Cash flow does not have to be an issue any ever more. Do not be deceived -- banks are not the only locations you can get financing. Other options are available and you do not have to borrow. What is trucking factoring ? One solution is called trucking factoring. Trucking Factoring is the process of offering accounts receivable to a financier rather than waiting to gather the cash from the customer. Oh, the Irony- Truck factoring has a paradoxical distinction: It is the monetary foundation of numerous of America's most effective companies. Why is this paradoxical ? Since staffing factoring is not taught in business colleges, is seldom mentioned in company strategies and is fairly unidentified to the majority of most of American business individuals.

Yet it is a financial process that frees billions of dollars every year, enabling thousands of companies to grow and succeed. Invoice Factoring has been around for countless years. Trucking Factoring Companies are financiers who pay cash for the right to get the future payments on your invoices. An overdue receivable or invoice has value. It is a financial obligation your customer has agreed pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business deals, a big portion of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a type of factoring in their retail transactions. Using the purest meaning of the word, these large consumer finance companies are truly just large Trucking Factoring Companies of consumer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The store gets paid practically immediately, even though you do not make payment until you are prepared.

For this service, the charge card company charges Sears a fee (typical common normal fees range from two to 4 percent of the sale). The Advantages Receivable Loan Funding can provide many advantages to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on an item that has actually currently been delivered, a company can factor (sell) its receivables for money at a little discount off the amount of the invoice. Payroll, marketing efforts, and working capital are just a few of the company requirements that can be met with instant  money.

Accounts Receivable Factoring offers the ways for a manufacturer to renew stock and make 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 kind company can take advantage of FACTORING. Typically, a company that extends credit will have 10 to 20 percent of its annual sales bound in accounts receivable at any given time. Think for a minute about how much is bound in 60 days' worth of invoices: You can not pay the power bill or this week s payroll with a client s invoice, but you can offer that invoice for the cash to meet those obligations. Using trucking factoring companies is a fast and simple process. The factor buys the invoice at a discount, usually a couple of percentage points less than the stated value of the invoice.

 

 

Please call our
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1 - 888-239-9162
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Business Factoring Companies

 

The American Truck Association
mentions that there around
200,000 work with freight trucking
businesses and
276,000 private companies trucking
firms accredited to
run in the States that carried,
according to their most current listings of millions of
items, supplies and
standard materials .
There are numerous typical
providers either going solo or in
groups on our nation
roadways transporting these
important products to our
shops, factories and harbors.

Moreover trucking factoring
corporations help
numerous 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

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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:
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Enter the your Oilfield services Receivables Financing 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 Truckers Place.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

 

EveryTruckJob.com 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 andbenefits offered. Search current driving jobs and fill out the EZ truck driver application customized for cdl trucking jobs

 

EveryTruckJob.com 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 andbenefits 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.

 

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 JOC Top 50 Trucking Companies list, based on data prepared by SJ Consulting Group in Pittsburgh.

 

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.

 

 

"

Scott Truck & Haul have been operating their business since the mid 1980s. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the boom times from 2002 to 2007 Scott 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 Scott 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, Stephen Warren, CEO of Scott 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 gone to his administrators and asked them what the problem had been. Were they doing things different, or wrong, when it came to collecting overdue accounts? By his bookkeepers records, this wasn't the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. They couldn't 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.To Stephen Warren the situation looked desperate. He had employees to pay, goods to ship, trucks to maintain and overhead that was almost unbearable when compared against the lack of funds that were coming in. At night he would speak to his wife Rebecca and shake his head in frustration.

 

""I have a bad feeling, Lin,"" he'd sadly say to his wife.""What could you do differently?"" she would ask.Stephen would stare off for a moment and then close eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them traveling, bringing goods to all of his clients. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. What could cause this ultimate death spiral of business?""I know what it is,"" Stephen 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 Rebecca could do was hold his hand and look at him tenderly. 'We know it's a difficult economy at the moment - perhaps it will take a while for people to get on top of their bills'.""Stephen 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 Stephen walked into his office with a spring in his step, determined to call each and every client who owed money to Scott Truck & Haul. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. A waste of time - a waste of money - he had the best intentions, but all the while Stephen 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 Lauraerley knocked at his door.

 

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

 

""Of course Laura, please come in."" Stephen relaxed back into his chair and looked up at Lauraerley.""Well Stephen, this afternoon I did some research, trying to work out how we're going to get out of this mess."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard of factoring?"" she asked.""It does sound vaguely familiar. What is factoring""? he asked.She began, ""Well, it's really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Stephen interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""It's 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.. 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.��I see,� Stephen said. �And then what?��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.

 

This company tells us what the cost will be to purchase factoring for our accounts receivable. We come to an agreement and the funding starts pouring out.�Stephen was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Laura,"" he said.""Now, now, I know, I thought the same thing. But think about it, Stephen: 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. And they're flexible Stephen,"" she underlined a paragraph on the paper before him.""How flexible?"" asked Stephen.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. Apparently they can figure this all out in two to four days.

 

""""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,"" Stephen said.Stephen took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. This could be the answer to our prayers: it will solve many problems we're facing due to these unpaid debts.""Stephen took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Scott Truck & Haul were professional resources of the company, but they were also long-standing friends. They didn't want to throw away these relationships because they were having trouble paying their bills now. Stephen knew only too well that the whole economy was floundering, and that it was not going to change overnight. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. He didn't want to lose business but he also didn't want to lose any more money.""Well, let me think about this tonight Laura, thank you."" Laura nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Stephen keep the shirt on his back, and possibly hers too.Stephen 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 Scott 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. Stephen was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Stephen was a typical business man: he despised binding contracts that didn't allow room to breathe, so he was pleasantly surprised to see that the factoring company didn't require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""Well, I'll have to tell Jacob about this,"" muttered Stephen to himself.Jacob is Stephen's son-in-law, and he really admired the ideas behind Scott, so much so that only two years before he had started his own transportation service business. At that time Stephen knew the struggles Jacob would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Scott was hurting, a little guy like Jacob was about to catch his death. Perhaps the antidote to these problems was in freight factoring, and they were about to find out.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Stephen was beginning to find his way out of the hole his debtors had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They used that time to refocus their efforts in being competitive in new territories. Stephen looked back on the dismal months of life before freight factoring and almost shuddered at the thought. He probably wouldn't be in business today had he not learned just in time about freight factoring.

 

"

 

"

New York is a vibrant center for commerce and business and one of the three ""world cities"" (along with London and Toyko) that control world finance. Manufacturing�primarily of small but highly diverse types�accounts for a large but declining amount of employment. Clothing and other apparel, such as furs; chemicals; metal products; and processed foods are some of the principal manufactures. The city is also a major center of television broadcasting, book publishing, advertising, and other facets of mass communication. It became a major movie-making site in the 1990s, and it is a preeminent art center, with artists revitalizing many of its neighborhoods. The most celebrated newspapers are the New York Times and the Wall Street Journal. New York attracts many conventions�including the national Democratic (1868, 1924, 1976, 1980, 1992) and Republican (2004) party conventions�and was the site of two World's Fairs (1939�40; 1964�65). It is served by three major airports: John F. Kennedy International Airport and LaGuardia Airport, both in Queens, and Newark International Airport, in New Jersey. Railroads converge upon New York from all points.With its vast cultural and educational resources, famous shops and restaurants, places of entertainment (including the theater district and many off-Broadway theaters), striking and diversified architecture (including the Woolworth Building, Chrysler Building, Empire State Building, Seagram Building, and Gehry's 8 Spruce St.), and parks and botanical gardens, New York draws millions of tourists every year. Some of its streets and neighborhoods have become symbols throughout the nation. Wall Street means finance; Broadway, the theater; Fifth Avenue, fine shopping; Madison Avenue, advertising; and SoHo, art

 

"

 

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 can't 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 wouldn't 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 wouldn't 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 wouldn't be inheriting a financial mess.

 

 

 

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Trucking Factoring  Articles

�So It is not a loan?� asked Jon Martinez, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�No, not exactly,� she stated.Jon 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 Thomas. He named his business Byrd Trucking, named after Rafael and Sidney, his two grandfathers. Both of these men had been very hardworking and had set a great example for Thomas.Disaster had struck half a year ago, when two trucks in Thomas�s fifteen truck fleet went down. One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. Jon depended on his full fleet, and missing two trucks was devastating . In addition, he just didn't have the available cash to buy a new truck, plus repair the other one.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

You could go a month or more before bills were completely paid off. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Jon wasn�t a bad owner, and he hadn�t messed up. Things had happened that he couldn't have predicted, and he had to figure out a way to keep his business from hurting, or even going under.That�s where the woman across the desk came in. Jon knew she was employed by a Factoring company and that her name was Yvonne. He had accidentally come across her company one night when he was working late, searching the internet to see if there was some solution to his financial dilemma.She sat there now, and explained. �it is really not a loan at all: we actually buy your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. That way we�re protected from a complete loss, but you�re protected from the outrageous fees you would find in a loan from the bank.Jon agreed. It sounded good to him, almost too good.The woman laughed. �You look like you don�t believe me,� she chuckled.�No, I do, I just think it sounds a bit too good to be true. I thought I was going to lose my company.�Yvonne smiled, agreeing. �Yes, we get a lot of that. Listen, I�d hate to see you lose your company. We know how hard you work, and that you've invested everything in your business. We all need help sometimes. That�s what we�re here for.��Well, I'm very grateful that you came to see me today.��It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Yvonne with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.

 

Jon completed the form, with Yvonne offering advice as needed.

 

The profile filled Yvonne and her company in on Thomas�s company, and would help them determine if he was suitable for factoring. In truth, not all companies were. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. As Jon completed his form, Yvonne listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Yvonne took it and slid it into her briefcase. She then stood, reached across the desk and shook Thomas�s hand. He stood before they shook as well, and then smiled. They said their goodbyes and Jon walked her to the door, and then returned to his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He shut his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. But now, after speaking to Yvonne and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.The long nights, where he couldn�t sleep. The sudden panic attacks, not matter where he was. He could feel it all fading away. He 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. At twenty-two and straight out of school he had opened a restaurant. It had been successful. Home cooking in his hometown, and he had done very well.But it wasn't what he really wanted to do. His passion didn�t lie with the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took six months off, and during that time he decided to create Byrd Trucking. So he did it. Once again he built a company from the ground up. The business had been an instant success.And then the trucks went down, and his success looked to be in flux. He was nearing fifty. He didn�t think he had it in him, to save this company. But 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 didn't want to quit - both for himself and for his staff members.And now, because of factoring, he was sure he wouldn�t have to. Jon 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.

 

 

 

 

More Trucking Factoring Company Story Articles

The key reasons why Truck Corporations Utilize Factoring Firms.

 

As the manager of your own business enterprise, you may well be much more than knowledgeable already of the challenge in making certain that capital matters do not become a problem down the line. Anyway, the most unfortunate thing that can quite possibly come about for your firm is to find yourself embroiled in a long and tough predicament that leaves you forever trying to find the funds you necessitate on an on-going manner.

 

For any kind of business enterprise in this scenario, the trouble can come for waiting for work to clear up and actually be brought in into your balance. Bill of sales, checks, and the like can take a while to actually to beprocessed which can leave you with momentary cash flow issues. Fortunately, there are alternatives out there for businesses to look into-- and one of these is factoring providers.

 

Factoring companies will, in trade for your statements, give you with the cash money now to ensure you don't need to stress over the lingering time span that could make paying the expenses and purchasing toolsmore hard. With this kind of arrangement, invoice factoring can come to be incredibly beneficial for countless companies who need to avoid a money lure which they have gotten themselves in.

 

Given that, basing on the volume of the task, it can take up to 60 days for several businesses to get paid then it's crucial to take care of your own back and definitely not leave yourself cash short to pay the bills. After all, how many businesses possess two months earnings just lying there to handle all their bills until they get paid?

 

This is most especially true of trucking establishments. They have the tendency to manage bunches of invoices which means a huge amount of collection time involves business owner themselves. Striving to get paid promptly can eventually become an amazing headache and this is exactly why you work with truck factoring firms who are glad to help out truckers primarily.

 

As we all understand, trucking is an astonishingly big field with plenty of firms out there employing hundreds of vehicle drivers. Regretfully, many of these drivers wind up in cash problems for the reason that they are still anticipating work from six weeks ago to actually compensate them. When this is the scenario for a truck agency, choosing factoring agencies for help may be the finest choice left.

 

This implies that a truck corporation can pay out the wages of the people, keep all the trucks topped off with fuel and continue to scale, progress and expand without continually waiting for the finances which is taking too long to come in. Trucking Firms running without a factoring system put in place are leaving themselves at critical danger, as competitions cash out fast and continue to broaden.

 

There's absolutely almost nothing to be troubled about when it comes to using a Factoring firm-- they typically aren't like a financial institution or any individual who is going to leave you with a massive pile of debt to repay. You give them authentic invoices from job you have already accomplished , you are merely speeding the repayment system.

 

In the United states of America, where trucking establishments prosper, factoring companies are not considered taking on loan in any capacity. This confidential deal then permits both parties to make money and indulge in a good future-- it provides the factoring business a warranted asset of profit to add to the list and it gives the trucking business the required money that they worked hard to acquire.

 

The trucking firm provides their accounts to the factoring company. The trucking factoring company then receive the payments from the trucking company's customers. Factoring has been all around for centuries and has been used for long times by many diverse fields-- 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 team up with, it signifies that you are getting the money today and can actually begin putting the money to function.

 

Anyway, an IOU or an invoice is not going to fund spendings, is it? For trucking establishments when the funds can be good one day and gone the next, it's up to the vehicle drivers to work prudently and to guarantee they are leaving themselves with a notable measure of time and money to get through the week till they are compensated once again.

 

So the next moment your trucking business is enduring some short-term cash flow troubles and you are putting in way too much time chasing sluggish paying clients, why not start looking at using a factoring companies as a method to get your cash and give yourself a more comfortable future in the eyes of your trucking personnel and your bank dividend?

 

 

 

 

 

 

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Traditional Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. These loans can be a life-saver, but they're not always available to every business. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it's usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies don't offer loans, and you don't go into debt when you get money from a Trucking Factoring company. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of 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. You Won't Incur Debt. Since the Trucking Factoring company actually buys your accounts receivable you don't actually incur debt like you do with a bank loan. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating won't be affected. In the event that your business fails, you wouldn't 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 benefit of using a Trucking Factoring company instead of a traditional loan is that you aren't required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

3. You'll receive the money faster. Using a Trucking Factoring company means that you'll get the finance quicker. 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 don't 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 don't 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 from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. 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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Factoring Companies by City

New York City

Los Angeles


Chicago


Houston


Philadelphia


Phoenix


San Antonio


San Diego


Dallas


San Jose

Austin


Jacksonville


Indianapolis


San Francisco


Columbus


Fort Worth


Charlotte


Detroit


El Paso


Memphis

 

 

Boston


Seattle


Denver


Washington DC


Nashville-Davidson


Baltimore


Louisville/Jefferson


Portland


Oklahoma City


Milwaukee


Las Vegas


Albuquerque


Tucson


Fresno


Sacramento


Long Beach


Kansas City


Mesa


Virginia Beach


Atlanta

 

Colorado Springs


Raleigh


Omaha


Miami


Oakland


Tulsa


Minneapolis


Cleveland


Wichita


Arlington

 

New Orleans

Bakersfield

Tampa

Honolulu

Anaheim

Aurora

Santa Ana

St. Louis

Riverside

Corpus Christi

Pittsburgh

Lexington Fayette

Anchorage

Stockton

Cincinnati

St. Paul

Toledo


Newark

Greensboro

Plano

Henderson

Lincoln

Buffalo

Fort Wayne

Jersey

Chula Vista

Orlando

St. Petersburg

Norfolk

Chandler

Laredo

Madison

Durham

Lubbock

Winston Salem

Garland

Glendale

Hialeah

Reno

Baton Rouge

Irvine

Chesapeake

Irving

Scottsdale

North Las Vegas

Fremont

Gilbert town

San Bernardino

Boise

Birmingham

Rochester

Richmond

Spokane

Des Moines