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Imagine Holding Your banker Spellbound for 30 Minutes - Our Receivable Financing Company Can Give
Your Freight Company The Cash You Want

workingcapitalfactoring.org

freight bill factoring companies

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freight factoring companies for brokers

Truck Factoring is advantageous for numerous reasons. It permits a trucking business to raise cash without acquiring new financial obligation. While financial obligation is sometimes essential, many trucking companies would choose to raise cash without borrowing money. Debt is risky, and when it can not be paid back, assets can be repossessed. If the debt is large enough, it might even force a freight brokerage out of business.

 

 

 

 

 

 

 

How To Get More Profit From Your Receivables - Select A Truck�Factoring Company  Instead Of A Typical Bank Funding

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

At one time or another, every company, even effective ones, have actually 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 offered and you do not have to borrow money. What is truck factoring ? One solution is called truck factoring. Trucking Factoring is the procedure of offering accounts receivable to a financier rather than waiting to collect the cash from the client. Oh, the Irony- Trucking factoring has an ironic difference: It is the financial foundation of numerous of America's most effective companies. Why is this ironic ? Since invoice factoring is not taught in business colleges, is seldom discussed in company strategies and is relatively unknown to the majority of most of American business people.

Yet it is a monetary process that releases up billions of dollars every year, allowing countless companies to grow and prosper. Trucking Factoring has been around for thousands of years. FACTORING Companies are financiers who pay cash for the right to get the future payments on your invoices. An unpaid receivable or invoice has value. It is a debt your customer has agreed pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business transactions, a big percentage of the retail business uses a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail transactions. Using the purest meaning of the word, these large consumer finance business are really simply big Receivable Loan Funding Businesses of customer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The store gets paid practically instantly, even though you do not pay until you are ready.

For this service, the charge card business charges Sears a fee (typical common normal fees range from 2 to four percent of the sale). The Advantages Staffing Factoring can provide many advantages to cash-hungry companies. Rather than wait 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 small discount off the dollar value of the invoice. Payroll, marketing efforts, and working capital are simply a few of the company requirements that can be met with instant  cash.

Trucking Factoring offers the means for a manufacturer to renew inventory and make more products to sell: There is no longer a requirement to wait for earlier sales to be paid. Receivable Loan Financing is not just a cash management tool for manufacturers: Practically any kind business can benefit from Staffing Factoring. Generally, a business that extends credit will have 10 to 20 percent of its yearly sales bound in invoices 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 expense or today s payroll with a customer s invoice, however you can sell that invoice for the cash to satisfy those responsibilities. Using truck factoring companies is a fast and simple procedure. The factoring company buys the invoice at a price cut, typically a couple of percentage points less than the face value of the invoice.

 

 

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The United states Trucking Association
specifies that there are about
205,000 truck drivers with transportation
firms and
300,000 personal service providers trucking
firms certified to
operate in the U.S. that transported,
according to their latest listings of millions of
items, materials and
standard products .
There are a number of typical
carriers either going solo or in
teams on our country
highways transferring these
important items to our
stores, manufacturingplants and harbors.

Also freight bill factoring
firms help
numerous of them and offer their
receivables financing services
nationallycounting
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

 

Anaheim is based on a tourism economy, meaning that tourism is its main source of income. In addition to The Walt Disney Company being the city's largest employer, the Resort itself contributes about $4.7 billion annually to Southern California's economy. It also produces $255 million in taxes every year. Another source of tourism is the Anaheim Convention Center, which is home to many important national conferences. Many hotels, especially in the city's Resort district, serve theme park tourists and conventiongoers.The Anaheim Canyon business park makes up 63% of Anaheim's industrial space and is the largest industrial district in Orange County. Anaheim Canyon is also home to the second largest business park in Orange County. Anaheim Canyon houses 2,600 businesses, which employ over 55,000 workersAnaheim [key], city (1990 pop. 266,406), Orange co., S Calif., SE of Los Angeles; inc. 1870. Anaheim was founded by Germans in 1857 as an experiment in communal living. In an area once dominated by citrus and walnut groves, the city is now an industrial center, making electronic and computer equipment, plastic products, prepared foods, fabricated metal products, consumer goods, motor vehicles, and molded rubber goods. Anaheim is also one of the great tourist and convention centers in the United States. The theme park (opened 1955, with Disney's California Adventure, opened 2001) is world famous; the California Angels (baseball) and Anaheim Ducks (hockey) play in Anaheim.

 

 

View Our Factoring YouTube Videos For More Information

 

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

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

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

 

The largest trucking companies in the U.S. set a revenue record in 2013, but revenuegrowth slowed for the second year in a row.

The combined revenue of the 50 largest motor carriers rose to $106.6 billion last year, according to The Top 50 Trucking Companies list, based on data prepared by Consulting Group in Pittsburgh.

 

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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

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

 

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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

 

 

"

Snyder Truck & Haul have been operating their business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the heady times from 2002 to 2007, Snyder was a top rated accounts receivable mastermind of the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. Cash was flowing and times were good for all.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed to a crawl

 

. And worse yet, Snyder had noticed during the early part of 2008 that though the bulk of their clients were always on time with payments, the few late-bloomers there were, had seemingly started to spread this illness. And as spring turmed to summer and summer into the early days of fall, Derrick Diaz, CEO of Snyder felt a chill go down his spine whenever he would look at the weekly A/R reports. The number of clients who were late in their payments was continuing to grow.He had 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? By his bookkeepers records, this wasn't the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Snyder money had jumped ship and decided to leave him holding the bag.

 

. They could not afford to pay him their debt, but they could afford a lesser service, maybe. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. The had just gone!.This current state-of-affairs was causing Derrick Diaz to have some very restless nights. Derrick was very concerned, because there were constant overheads, goods to ship, employees to pay, and trucks which needed to be maintained, but there just wasn't the money coming back into the business. In the evenings he would discuss his concerns with his wife, Marion, and still find no relief from the worry and frustration.

 

""I have a bad feeling, Lin,"" he would say with deep woe.""What could you do differently?"" she would ask.Derrick 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 then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What could cause this ultimate death spiral of business?""I know what it is,"" said Derrick. ""For way too long I've been relying solely on profits received from invoices. I've let too many of our customers go too long without paying on their bills."" All Marion 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'.""Derrick knew very well that Marion was only trying to help, but his responsibilities weighed heavily on his shoulders and he knew he had better do something soon to resolve this situation.The next day Derrick strolled into his office and was determined to sit down and make every phone call to every client who had owed Snyder money. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. Wasting money, wasting time - even with the best of intentions, Derrick knew that he was in trouble.

 

Poor Derrick spent the whole morning trying in vain to contact his debtors: they promised to call back, dodged his calls, or made small interest-only payments. He was beginning to feel quite despaired when his secretary knocked on his door.

 

""Derrick, can I have a word?"" she queried, standing in the doorway.

 

""Of course Arlene, please come in."" Derrick leaned back in his chair and looked expectantly at Arleneerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Derrick."" 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?"" Arleneerley asked.""It does sound vaguely familiar. What is factoring""? he asked.She began, ""Well, it is really very simple. So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Immediately?"" Derrick interrupted.""Immediately, yes"" she added, ""In a nutshell, it is pretty easy. We can have an expert account manager review our numbers and help us complete a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.""I see,� Derrick 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.

 

The company will advise us the cost to purchase factoring for our company's accounts receivable. We come to an agreement and the funding starts pouring out.�Leaning forward, Derrick studied the documents very closely.""I do not know, Arlene - it just sounds too good to be true"", Derrick said quietly.""Yes, I know; that's exactly what I thought at the beginning. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. And they're flexible Derrick,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" asked Derrick.""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,"" Derrick said.Derrick took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Derrick took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Snyder Truck & Haul were professional resources of the company, but they were also long-standing friends. Derrick wasn't prepared to lose these relationships just because they were having financial issues at the moment. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. Of course he did not want to lose any more money, but he did not want to lose business either.""Let me go over this tonight Arlene, and thankyou."" Arlene nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Derrick keep the shirt on his back, and possibly hers too.Derrick sat behind his desk and looked over the details Arlene had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Snyder Truck & Haul with? With his pencil gliding down the sheet he noticed that the factoring company could help fray the cost of fuel with fuel discount cards and fuel advances. Derrick was surprised: it said that his company could get up to fifty percent cash advances on load pickups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""I must tell Chris the good news,"" muttered Derrick to himself.Derrick's son-in-law, Chris, loved the idea behind Snyder 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 Derrick knew the struggles Chris would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Snyder was struggling then the little guys, like Chris, were going to be in even more trouble.

 

But, maybe the answer for both of them was in freight factoring, and Derrick was going to find out very soon.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Derrick was beginning to find his way out of the hole his debtors had created for him.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They used that time to refocus their efforts in being competitive in new territories. Derrick recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

Anaheim is based on a tourism economy, meaning that tourism is its main source of income. In addition to The Walt Disney Company being the city's largest employer, the Resort itself contributes about $4.7 billion annually to Southern California's economy. It also produces $255 million in taxes every year. Another source of tourism is the Anaheim Convention Center, which is home to many important national conferences. Many hotels, especially in the city's Resort district, serve theme park tourists and conventiongoers.The Anaheim Canyon business park makes up 63% of Anaheim's industrial space and is the largest industrial district in Orange County. Anaheim Canyon is also home to the second largest business park in Orange County. Anaheim Canyon houses 2,600 businesses, which employ over 55,000 workersAnaheim [key], city (1990 pop. 266,406), Orange co., S Calif., SE of Los Angeles; inc. 1870. Anaheim was founded by Germans in 1857 as an experiment in communal living. In an area once dominated by citrus and walnut groves, the city is now an industrial center, making electronic and computer equipment, plastic products, prepared foods, fabricated metal products, consumer goods, motor vehicles, and molded rubber goods. Anaheim is also one of the great tourist and convention centers in the United States. The theme park (opened 1955, with Disney's California Adventure, opened 2001) is world famous; the California Angels (baseball) and Anaheim Ducks (hockey) play in Anaheim.

 

 

More Trucking Factoring Companies Story Articles

"

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

 

Shawn�s father had started as an owner-operator and had grown Simmons 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 Shawn's mother had jumped into the cab at times to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. But now things were different: the company was in Shawn's hands and he needed to ensure that this business would be left in great shape for his sons.

 

To move Simmons 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 all have families and the usual household bills. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. He knew that turning down these requests made Simmons 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. Shawn 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?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. 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.

 

Shawn believed a successful man is always thinking of his next step. What would be the next step for Simmons Trucking? And how would he be able to afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

He wondered about factoring - was this the answer for him? If he was being honest, he did not really understand how it all worked. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without 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.

 

Now it was time for Shawn to do his homework. Shawn 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. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

But it turned out to be quite easy. 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. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. He was more than happy with the figures he was offered in percentage terms on the freight bills. It was good money.

 

For Shawn it was quite a relief to be dealing with the factoring company. 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 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 Shawn because he and his father had built up good strong relationships over decades with their list of clients. So he knew they would understand when the factoring company contacted them for the invoices. His clients would not have any problems, nor would they think poorly of Simmons 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.

 

Shawn stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. He suddenly realized that, with this new cash flow, he could actually expand Simmons Trucking Company and who knows, move into Canada, which had always been his dream. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

"

 

 

Watch Our Factoring Video For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So, 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 key reasons why Truck Establishments Employ Factoring Companies.

 

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 concerns do not become a predicament down the line. Anyway, the most terrible thing that can possibly occur for your enterprise is to find yourself swept up in a long and tough condition that leaves you forever looking for the cash you need to have on an on-going basis.

 

For any kind of enterprise in this situation, the problem can come for waiting for work to clear up and actually be paid out into your statement. Statements, checks, and the like can take some time to actually to beprocessed which can leave you with short-term available resources dilemmas. Thank goodness, there are options out there for enterprises to explore-- and among these is factoring firms.

 

Factoring companies will, in substitution for your invoices, offer you with the finances right away to ensure that you do not need to worry about the lingering duration which could make paying the expenses and acquiring toolsmore complicated. With this style of system, invoice factoring can become incredibly valuable for several firms who need to avoid a cash ploy which they have discovered themselves in.

 

Due to the fact that, depending on the volume of the project, it can take up to 60 days for many business enterprises to get paid out then it is important to blanket your own back and certainly not leave yourself cash short to settle the costs. After all, how many companies have two months cash flow just lying there to cover all their expenses till they get paid?

 

This is most notably correct of trucking firms. They tend to take care of bunches of accounts which means a notable amount of collection time concerns company owner themselves. Seeking to get paid promptly can turn into an unbelievable struggle and this is the key reasons why you make use of truck factoring providers who are glad to help out truckers mainly.

 

As all of us recognize, trucking is an exceptionally big field with a lot of organizations out there working with hundreds of vehicle drivers. The sad thing is, numerous of these drivers end up in income troubles since they are still waiting for work from six weeks ago to actually compensate them. When this is the condition for a truck company, turning to factoring companies for support may be the very best alternative left.

 

This indicates that a trucking company can pay off the salaries of the workers, keep all the vehicles loaded with gas and continue to surmount, evolve and expand without always waiting for the funds which is taking too lengthy to come in. Trucking Businesses operating without a factoring program implemented are leaving themselves at substantial threat, as competitors cash out rapidly and proceed to develop.

 

There's absolutely very little to be troubled about when it comes to working with a Factoring business-- they are not like a bank or an individual who is going to leave you with a considerable mass of financial debt to pay back. You give them authentic invoices from work you have already wrapped up , you are merely accelerating the repayment process.

 

In the United States, where truck companies grow, factoring agencies are not considered getting a loan in any capacity. This private arrangement then makes it possible for both groups to benefit and experience a worry-free future-- it provides the factoring provider a secured resource of profit to put into the list and it offers the trucking firm the required finances that they worked hard to acquire.

 

The trucking establishment gives their invoices to the factoring business. The trucking factoring business then collect the installment payments from the trucking company's clients. Factoring has been in existence for centuries and has been utilized for long times by several different industries-- but none exceeding so than truckers. While you might miss out on a small part of the money, something like 1-3 % depending upon who you deal with, it implies that you are getting the resources today and can actually begin putting the money to operate.

 

Once and for all, an IOU or an invoice is not actually going to pay for spendings, is it? For trucking firms when the finances can be fantastic one day and gone the next, it is up to the vehicle drivers to work prudently and to guarantee they are leaving themselves with a considerable measure of time and finance to get through the week until they are paid for once more.

 

So the next period your trucking enterprise is bearing some momentary cash flow problems and you are shelling out way too much time chasing slow paying clients, why not begin thinking about employing a factoring businesses as a means to get your finances and give yourself a more pleasant future in the eyes of your trucking workers and your bank balance?

 

 

 

 

 

 

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Traditional Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. 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. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies do not 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. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to sell. Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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

 

1. There is no debt. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

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

 

3. Receive Your Money Faster. Using a Trucking Factoring company means that you'll get the finance quicker. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.You receive interest up-front. With a bank loan interest continues to build, and this has to be paid the whole time you have a business loan; however with a Trucking Factoring company there is no interest - they take it right off the top by deducting it from the total amount of receivable accounts. So you do not have to worry about monthly loan repayments, and you do not have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very 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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