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Thousands Now Play Who Never Thought They Could - Our Receivable Factoring Company Can Provide
Your Freight Company The Money You Want

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Using a Truck Factoring Company is useful for several reasons. It allows a truck company to raise money without obtaining brand-new financial obligation. While financial obligation is occasionally necessary, many freight broker firm would like to raise money without borrowing money. Financial obligation is dangerous, and when it can not be paid back, possessions can be repossessed. If the financial obligation is big enough, it may even require a trucking firms out of business.

 

 

 

 

 

 

 

Don't Even Think About Gpoing To The Bank Without Reading This Report - Pick A Freight�Invoice Factoring Company  Instead Of A Typical Bank Financing

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

At one time or another, every company, even effective ones, have actually experienced bad money 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 financing. Other solutions are available and you do not have to borrow money. Exactly what is trucking factoring ? One solution is called truck factoring. Truck Factoring is the process of offering invoices to a financier rather than waiting to gather the money from the client. Oh, the Irony- Trucking factoring has an ironic difference: It is the monetary backbone of many of America's most successful companies. Why is this paradoxical ? Since staffing factoring is not instructed in business colleges, is rarely discussed in business strategies and is relatively unknown to the majority of most of American company people.

Yet it is a monetary process that frees billions of dollars every year, enabling countless businesses to grow and succeed. Receivable Loan Financing has been around for thousands of years. FACTORING Companies are investors who pay money for the right to receive 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 deals solely with business-to-business deals, a large percentage of the retail company uses a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail transactions. Using the purest definition of the word, these big consumer finance companies are truly simply large Factoring Companies of consumer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The store makes money practically immediately, even though you do not make payment up until you are ready.

For this service, the charge card company charges Sears a fee (typical common normal charges vary from two to four percent of the sale). The Benefits Truck Factoring can offer numerous advantages to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on an item that has currently been provided, a business can factor (sell) its receivables for money at a little discount off the amount of the invoice. Payroll, advertising efforts, and working capital are just a few of the business needs that can be satisfied with instant  money.

Receivable Funding offers the ways for a producer to replenish stock and make more products to offer: There is no longer a need to await for earlier sales to be paid. Receivable Loan Financing is not just a cash management device for manufacturers: Almost any kind business can take advantage of Truck Factoring. Generally, 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 moment about exactly how much is tied up in 60 days' worth of invoices: You can not pay the power expense or today s payroll with a customer s invoice, but you can sell that invoice for the cash to meet those obligations. Using truck factoring companies is a quick and easy procedure. The factor buys the invoice at a discount, typically a few percentage points less than the stated value of the invoice.

 

 

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The United states Transportation Association
states that there around
195,000 truck drivers with freight trucking
companies and
300,000 private companies trucking
companies accredited to
run in America that carried,
according to their most current listings of millions of
products, supplies and
fundamental materials .
There are numerous common
carriers either going solo or in
groups on our country
highways transporting these
important items to our
stores, manufacturing facilities and harbors.

Moreover freight invoice factoring
firms support
numerous of them and offer their
accounts receivablesfinancing facilities
nationwidecomprising
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

 

"

Scottsdale is a city in the eastern part of Maricopa County, Arizona, adjacent to the Greater Phoenix Area. According to the U.S. Census Bureau, as of 2010 the population of the city was 217,385. The 2013 population is estimated to be of about 226,918 people living within the city, The New York Times described downtown Scottsdale as ""a desert version of Miami's South Beach"" and as having ""plenty of late night partying and a buzzing hotel scene"". Its slogan is ""The West's Most Western Town"".Scottsdale, 31 miles long and 11.4 miles wide at its widest point, shares boundaries with many other municipalities and entities. On the west, Scottsdale is bordered by Phoenix, Paradise Valley, and unincorporated Maricopa County land. Carefree is also located along the eastern boundary, as well as sharing Scottsdale's northern boundary with the Tonto National Forest. To the south Scottsdale is bordered by Tempe. The southern boundary is also occupied by the Salt River Pima-Maricopa Indian Community, which also extends along the Eastern boundary, which also borders Fountain Hills, the McDowell Mountain Regional Park and more unincorporated Maricopa County land. The tourism industry is Scottsdale's primary employer, accounting for 39% of the city's workforce. In 2005, Scottsdale attracted over 7.5 million visitors to the city, providing an economic impact of over $3.1 billion. The city of Scottsdale by itself is home to more than 70 resorts and hotels, boasting over 15,000 hotel rooms. This large hospitality market primarily caters to a higher-end, white-collar demographic.The city of Scottsdale is third, after New York City and Las Vegas respectively, as having the most AAA Five-Diamond hotels and resorts in the United States.[] In 2008, AAA bestowed five such properties in Scottsdale with the highest honor: The Phoenician, The Canyon Suites, Scottsdale Camelback Inn, Four Seasons Resort Scottsdale at Troon North, and the Fairmont Princess Resort and Spa.Scottsdale boasts the highest number of destination spas per capita of any city in the United States.The region's year-round warm weather and abundant sunshine is a major factor in Scottsdale's tourism appeal. In particular, during the winter, thousands of wealthy tourists from the midwest, the northeast, and as far away as Canada, flood the area with long-term visits (known locally as ""snowbirds""). These tourists, who often practice the same migration routine annually, often end up purchasing second homes in the area.Over the past several years however, Scottsdale's growing abundance of trendy, high-end nightlife, cale restaurants, art galleries and luxury shopping, has made it a highly popular travel destination for the younger, white-collar, more style-conscious, travel set.The famed Mayo Clinic has one of its three major branches in Scottsdale. This and its resulting effects have made Scottsdale a strong destination nationally for medical care.The aviation industry has also grown in Scottsdale, with the construction of Scottsdale Airport in North Scottsdale, in the 1960s. Today, it is one the busiest single-runway airports in the United States in terms of aircraft operations. Though there is little to no commercial air service, nearly all operations are corporate or general aviation.The immediate area surrounding the Scottsdale Airport, known locally as the Airpark, has developed rapidly as a regional center of commerce. By 2004, the Airpark had grown to become the second-largest employment center in the Phoenix Metropolitan Area, with over 50,000 people being employed within a few-mile radius of the airport itself � notably in financial, retail, service, technological, design and manufacturing fields. The Airpark houses more nearly 2,500 individual businesses, with a combined economic impact of over $3 billion annually, and growing.The largest employment center in the Phoenix Metropolitan Area is the combined central areas of Midtown and Downtown Phoenix, with an estimated 65,000 employees. Considering the many large, yet-to-be-developed parcels and opportunities for growth in and around the still highly desired Airpark area in North Scottsdale, it is expected to overtake the central Phoenix markets in the near future, becoming the single largest center of employment in the Phoenix Metropolitan Area.Among the companies headquartered in Scottsdale

 

"

 

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

 

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.

 

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.

 

 

"

Howell Truck and Haul has been in 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 heady times from 2002 to 2007, Howell was a top rated accounts receivable mastermind of the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. The money was flowing, and times were great.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 down. And worse yet, Howell 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, Brad Martinez, CEO of Howell felt a chill go down his spine whenever he would look at the weekly A/R reports. The numbers of clients who owed him back debt were growing.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. 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. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Howell hadn't gone elsewhere. The had just gone!.This current state-of-affairs was causing Brad Martinez to have some very restless nights. Brad 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 Willie and shake his head in frustration.

 

""Lin, I have a really bad feeling,"" he would say with deep woe.""Well, what do you think it is?"" she would ask.Brad would stare off into the distance, and then slowly close his eyes. He could see the fleet of trucks he had purchased over the years. He could see them traveling, bringing goods to all of his clients. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What could cause this ultimate death spiral of business?""I think I know what it could be,"" said Brad. ""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."" Willie would look at her husband lovingly, and holding his hand would say 'it is such a harsh economy these days and our clients must be having difficulty meeting their responsibilities'.""Brad 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 Brad walked into his office with a spring in his step, determined to call each and every client who owed money to Howell Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Brad knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. Wasting money, wasting time - even with the best of intentions, Brad knew that he was in trouble.

 

Poor Brad 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.

 

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

 

""Of course Julia, please come in."" Brad leaned back in his chair and looked expectantly at Juliaerely.""Well Brad, this afternoon I did some research, trying to work out how we are going to get out of this mess."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard the word factoring?"" she asked.""It does sound vaguely familiar. What is factoring""? he asked.""Well,"" she began, ""It�s actually quite simple really.

 

So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Immediately?"" Brad interrupted.""Yes, immediately,"" she continued, ""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 provides a very broad view.""I see,� Brad said. �And then what?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. 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. The funding commences once we�ve arrived at an agreement.�Brad leaned forward and reviewed the paperwork closely.""I do not know, Julia - it just sounds too good to be true"", Brad said quietly.""Now, now, I know, I thought the same thing. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. And they're flexible Brad,"" she underlined a paragraph on the paper before him.""How flexible?"" asked Brad.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. Apparently they can figure this all out in two to four days.

 

""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" Brad said.Brad 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 are facing due to these unpaid debts.""Brad thought about this and agreed with Juliaerley. The customers who were in debt to Howell Truck & Haul were professional resources of the company, but they were also long-standing friends. They did not want to throw away these relationships because they were having trouble paying their bills now. Brad 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 did not want to lose business but he also did not want to lose any more money.""Well, let me think about this tonight Julia, thank you."" Julia stood up and left Brad's office, with the nice feeling of knowing that she may just have solved a very serious problem.Brad sat behind his desk and looked over the details Julia had not mentioned in their meeting. What other issues could freight factoring help Howell 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. In fact, Howell could receive up to fifty-percent cash advances upon load pick-ups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""Well, I'll have to tell Brent about this,"" Brad muttered to himself.His son-in-law Brent had liked the idea of Howell so much and revered his father in law for having such business acumen that only two years before, he had gathered the venture capital to begin his own transportation service company. Brad knew then what struggles Brent would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Howell was hurting, a little guy like Brent was about to catch his death. But, maybe the answer for both of them was in freight factoring, and Brad 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 Brad 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 took that time and refocused effort to offering competitive prices in new territories. Brad 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.

 

"

 

"

Scottsdale is a city in the eastern part of Maricopa County, Arizona, adjacent to the Greater Phoenix Area. According to the U.S. Census Bureau, as of 2010 the population of the city was 217,385. The 2013 population is estimated to be of about 226,918 people living within the city, The New York Times described downtown Scottsdale as ""a desert version of Miami's South Beach"" and as having ""plenty of late night partying and a buzzing hotel scene"". Its slogan is ""The West's Most Western Town"".Scottsdale, 31 miles long and 11.4 miles wide at its widest point, shares boundaries with many other municipalities and entities. On the west, Scottsdale is bordered by Phoenix, Paradise Valley, and unincorporated Maricopa County land. Carefree is also located along the eastern boundary, as well as sharing Scottsdale's northern boundary with the Tonto National Forest. To the south Scottsdale is bordered by Tempe. The southern boundary is also occupied by the Salt River Pima-Maricopa Indian Community, which also extends along the Eastern boundary, which also borders Fountain Hills, the McDowell Mountain Regional Park and more unincorporated Maricopa County land. The tourism industry is Scottsdale's primary employer, accounting for 39% of the city's workforce. In 2005, Scottsdale attracted over 7.5 million visitors to the city, providing an economic impact of over $3.1 billion. The city of Scottsdale by itself is home to more than 70 resorts and hotels, boasting over 15,000 hotel rooms. This large hospitality market primarily caters to a higher-end, white-collar demographic.The city of Scottsdale is third, after New York City and Las Vegas respectively, as having the most AAA Five-Diamond hotels and resorts in the United States.[] In 2008, AAA bestowed five such properties in Scottsdale with the highest honor: The Phoenician, The Canyon Suites, Scottsdale Camelback Inn, Four Seasons Resort Scottsdale at Troon North, and the Fairmont Princess Resort and Spa.Scottsdale boasts the highest number of destination spas per capita of any city in the United States.The region's year-round warm weather and abundant sunshine is a major factor in Scottsdale's tourism appeal. In particular, during the winter, thousands of wealthy tourists from the midwest, the northeast, and as far away as Canada, flood the area with long-term visits (known locally as ""snowbirds""). These tourists, who often practice the same migration routine annually, often end up purchasing second homes in the area.Over the past several years however, Scottsdale's growing abundance of trendy, high-end nightlife, cale restaurants, art galleries and luxury shopping, has made it a highly popular travel destination for the younger, white-collar, more style-conscious, travel set.The famed Mayo Clinic has one of its three major branches in Scottsdale. This and its resulting effects have made Scottsdale a strong destination nationally for medical care.The aviation industry has also grown in Scottsdale, with the construction of Scottsdale Airport in North Scottsdale, in the 1960s. Today, it is one the busiest single-runway airports in the United States in terms of aircraft operations. Though there is little to no commercial air service, nearly all operations are corporate or general aviation.The immediate area surrounding the Scottsdale Airport, known locally as the Airpark, has developed rapidly as a regional center of commerce. By 2004, the Airpark had grown to become the second-largest employment center in the Phoenix Metropolitan Area, with over 50,000 people being employed within a few-mile radius of the airport itself � notably in financial, retail, service, technological, design and manufacturing fields. The Airpark houses more nearly 2,500 individual businesses, with a combined economic impact of over $3 billion annually, and growing.The largest employment center in the Phoenix Metropolitan Area is the combined central areas of Midtown and Downtown Phoenix, with an estimated 65,000 employees. Considering the many large, yet-to-be-developed parcels and opportunities for growth in and around the still highly desired Airpark area in North Scottsdale, it is expected to overtake the central Phoenix markets in the near future, becoming the single largest center of employment in the Phoenix Metropolitan Area.Among the companies headquartered in Scottsdale

 

"

 

More Trucking Factoring Companies Story Articles

The Future of a Trucking Company, and Factoring Kenneth Thompson let the phone ring on his desk. He let his morning coffee cool and left his cigarette to ash itself in the tray, because he is trying to make the biggest decision ever for his trucking company. Thompson Trucking Company had reached a turning point and he now had to make a decision as to whether he should sign up with a factoring company, and indeed if this would be a good or regrettable decision for his business.

 

Kenneth�s father had started as an owner-operator and had grown Thompson 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 Kenneth'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. Now the company was solely in Kenneth�s hands and he wanted to live to see it in better shape for his sons.

 

To move Thompson Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. His employees needed to be paid. They 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. Every time he had to turn down a request, Thompson Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Kenneth chuckled, thinking about his father. 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?� 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.

 

Kenneth believed a successful man is always thinking of his next step. How would he take Thompson Trucking to the next level? 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. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

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. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Kenneth had to really consider what his next step was going to be. Kenneth 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! 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?

 

However, it all turned out to be very simple. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He was quite happy to sign an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. He was more than happy with the figures he was offered in percentage terms on the freight bills. It sounded like a great scheme to him.

 

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. Factoring was based on the credit of his customers and on their reliability which worked well for Kenneth 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 wouldn�t think poorly of Thompson Trucking and the factoring companies appeared capable of handling the accounts receivable in the same polite manner that his father had used over the years.

 

Kenneth 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 Thompson Trucking Company and who knows, move into Canada, which had always been his dream. His heart felt full knowing his sons wouldn�t have to worry about money because of the right decisions he had made for their trucking business.

 

 

 

 

 

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Trucking Factoring  Articles

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�So It is not a loan?� Charles Cooper asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Charles smiled at him, shaking her head.�Not quite,� she said.Charles Cooper owned a small trucking company, and his business had recently fallen on difficult times. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Kenneth. His company was called Ryan Trucking, named after both of his grandfathers, Clifford and Walter. They had both been hardworking men, and had done a lot to make Charles the same.Six months ago disaster struck Kenneth's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. Charles depended on his full fleet, and missing two trucks was devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Charles had on hand.A big problem a lot of trucking companies came across was how bills were paid in the industry. You could go a month or more before bills were completely paid off. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Charles 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.That�s where the woman across the desk came in. Her name was Jessica and she worked for a factoring company. 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.Jessica 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.Charles agreed. It sounded good to him, almost too good.Jessica laughed. �You look like you don�t believe me,� she said.�No, I do, I just think it sounds a bit too good to be true. I actually thought I might end up losing my business.�Jessica smiled, agreeing. �Yes, we get a lot of that. Listen, I�d hate to see you lose your company. You work hard, you�ve put everything you can into it. We all need help sometimes. That's why we do what we do.""In any case, thank you for coming to see me.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Jessica with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Charles completed the form, with Jessica offering advice as needed.

 

The profile filled Jessica and her company in on Kenneth�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. Listening as Charles filled out his form, Jessica was pretty sure he was a perfect candidate for factoring.Jessica took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Kenneth�s hand. He also stood up, and they smiled at each other. Charles walked Jessica to the door where they said 'Goodbye', then he went back into his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He leaned back and closed his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. But now, after speaking to Jessica 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.All those long, sleepless nights. The terrifying panic attacks that occurred regardless of where he was. Already he could feel all the stress start to drain away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.His mind wandered back to the very beginning, when he first started his business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been really successful. Offering home cooking in his own hometown, his business had really prospered.But he had gotten bored. He wasn't passionate about 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 Ryan 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.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. 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.

 

Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He didn�t know how to say quit.And now, because of factoring, he was sure he wouldn�t have to. Kenneth's eyes opened, he sat forward in his chair and turned on his computer. He had lots to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

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More Trucking Factoring Company Story Articles

Why Trucking Establishments Utilize Factoring Companies.

 

As the operator of your own company, you may well be more than aware already of the difficulty in making certain that capital matters do not become a dilemma down the line. Anyway, the most terrible thing that can quite possibly transpire for your firm is to find yourself swept up in a long and perplexing predicament that leaves you forever looking for the money you need to have on an continuous basis.

 

For just about any enterprise in this instance, the complication can come for waiting for work to clear up and actually be provided into your balance. Statements, checks, and the like could take a long time to actually to beprocessed which can leave you with momentary available resources troubles. Thank goodness, there are approaches out there for establishments to check out-- and just one of these is factoring firms.

 

Factoring companies will, in trade for your accounts, grant you with the finances today in order that you do not need to worry about the delaying period which could make paying the bills and purchasing toolsmore hard. With this kind of setup, invoice factoring can end up being extraordinarily practical for several businesses who need to get out of a money ploy which they have gotten themselves in.

 

Considering that, depending upon the size of the work, it can take up to 60 days for a number of businesses to get paid out then it is vital to take care of your own back and definitely not leave yourself money short to settle the monthly bills. After all, how many businesses possess two months revenue just lying there to pay for all their expenses till they get paid?

 

This is most notably true of trucking companies. They generally deal with numbers of statements which means a substantial quantity of collection period concerns business owner themselves. Making an effort to get paid in time can become an unbelievable trouble and this is exactly why you employ truck factoring providers who are happy to help out truckers mainly.

 

As we all know, trucking is an extremely large field with a lot of agencies out there working with hundreds of vehicle drivers. Unfortunately, several of these drivers land up in cash issues given that they are still expecting work from six weeks ago to actually pay them. When this is the case for a trucking company, choosing factoring companies for aid may be the most ideal alternative left.

 

This signifies that a trucking firm can pay out the wages of the work force, keep all the cars loaded with gas and continue to go up, thrive and expand without constantly waiting for the income which is taking too lengthy to come in. Trucking Firms running without a factoring system used are leaving themselves at critical danger, as competitors cash out rapidly and proceed to expand.

 

There's genuinely not a thing to be troubled about when it comes to making use of a Factoring establishment-- they typically are not like a financial institution or an individual who is going to leave you with a considerable stockpile of financial obligation to pay back. You give them legitimate invoices from job you have already completed , you are only accelerating the payment system.

 

In the United states of America, where trucking enterprises survive, factoring companies are not considered getting a loan in any capacity. This private arrangement then enables both parties to make money and take pleasure in a comfortable future-- it provides the factoring business a guaranteed asset of cash flow to include in the list and it supplies the trucking company the needed cash that they worked hard to obtain.

 

The trucking establishment provides their invoices to the factoring enterprise. The trucking factoring provider then acquire the installment payments from the trucking company's clients. Factoring has been in existence for hundreds of years and has been utilized for decades by lots of different sectors-- but none much more so than truckers. While you could lose out on a small part of the money, something like 1-3 % depending upon who you partner with, it indicates that you are getting the resources today and can actually begin setting the resources to perform.

 

After all, an IOU or an invoice is not going to finance costs, is it? For trucking firms when the resources can be excellent one day and gone the next, it is up to the drivers to work smartly and to make sure they are leaving themselves with a substantial volume of time and finance to get through the week till they are compensated once more.

 

So the next time your trucking company is having some momentary cash flow dilemmas and you are shelling out excessive time chasing inactive paying clienteles, why not start looking at employing a factoring companies as a manner to get your finances and give yourself a more pleasant future in the eyes of your trucking team and your bank difference?

 

 

 

 

 

 

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Traditional Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. These loans can be a life-saver, but they're not always available to every business. 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 is 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. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not offer loans, and you do not go into debt when you get money from a Trucking Factoring company. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once you have set up Trucking Factoring account it continues as long as you wish it too and the amount of money available to you even can grow as your business grows, giving you the ready cash you need to meet your own obligations.

 

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. You will not Incur 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. 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. 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. You'll receive the money faster. With a Trucking Factoring company you can actually get the money you need faster. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.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 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. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

Another bonus is that, because the Trucking Factoring company has evaluated the quality of your customers' credit before buying the accounts receivable, you learn valuable information regarding your customers, like which ones are likely to pay, and which ones are less 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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