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Check the Kind of Bank Account You Want - Our Freight Invoice Factoring Company Can Provide
Your Freight Company The Money You Need

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Factoring invoices is beneficial for several factors. It permits a trucking company to raise cash without acquiring new financial obligation. While debt is in some cases needed, a lot of trucking firms would prefer to raise money without obtaining money. Financial obligation is dangerous, and when it cannot be paid back, possessions can be repossessed. If the financial obligation is huge enough, it might even require a freight brokerage out of business.

 

 

 

 

 

 

 

How To Get Financing Without a Lawyer for Under One Dollar - Pick A Truck�Factoring Company  Instead Of A Traditional Bank Financing

Exactly how to Enhance Money Flow Without Loaning -Cash Money flow is one of the main reasons companies fail.

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

Cash flow does not have to be a problem any ever more. Do not be fooled -- banks are not the only locations you can get financing. Other solutions are offered and you do not have to borrow. Exactly what is trucking factoring ? One solution is called truck factoring. Trucking Factoring is the procedure of offering accounts receivable to an investor rather than waiting to gather the cash from the customer. Oh, the Irony- Truck factoring has an ironic difference: It is the financial foundation of many of America's most successful companies. Why is this paradoxical ? Because staffing factoring is not taught in business colleges, is seldom mentioned in business strategies and is relatively unidentified to bulk of most of American business individuals.

Yet it is a financial procedure that releases up billions of dollars every year, allowing countless businesses to grow and succeed. Commercial Factoring has actually been around for thousands of years. FACTORING Companies are investors 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 actually agreed pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business deals, a large portion of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail deals. Using the purest meaning of the word, these big customer finance companies are really simply big Receivable Loan Financing Businesses of consumer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The shop makes money almost immediately, even though you do not pay until you are ready.

For this service, the charge card company charges Sears a charge (typical common normal fees vary from two to 4 percent of the sale). The Advantages Invoice Factoring can provide many benefits to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on a product that has actually already been provided, a business can factor (sell) its receivables for cash at a little price cut off the amount of the invoice. Payroll, advertising efforts, and working capital are just a few of the business requirements that can be satisfied with instant  money.

Factoring provides the ways for a producer to renew stock and make even more products to offer: There is no longer a need to await for earlier sales to be paid. FACTORING is not simply a money management device for manufacturers: Almost any kind company can benefit from 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 exactly how much is bound in 60 days' worth of invoices: You can not pay the power expense or this week s payroll with a client s invoice, however you can sell that invoice for the cash to satisfy those responsibilities. Using trucking factoring companies is a fast and easy procedure. The factoring company purchases the invoice at a discount, usually a few portion points less than the face value of the invoice.

 

 

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The American Trucking Association
mentions that there around
205,000 truck drivers with truck
businesses and
300,000 personal service providers trucking
companies accredited to
run in the States that transferred,
according to their newest listings of millions of
products, materials and
basic products .
There are a number of usual
providers either going solo or in
groups on our country
roads carrying these
crucial products to our
stores, manufacturing facilities and ports.

Furthermore freight factoring
companies aid
several of them and offer their
receivable loan services
nationallyincluding
including the following states.

: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho State, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming

 

"

Kansas City is one of ten regional office cities for the United States Government. The U.S. Government is the largest employer in the Kansas City metro area, with more than 146 federal agencies maintaining a presence. The Internal Revenue Service maintains a large service center in Kansas City that is nearly 1,400,000 square feet (130,000 m2). The IRS facility is one of only two facilities in the nation to process paper returns. The IRS has approximately 2,700 full-time employees in Kansas City and upwards of 4,000 employees during peak tax season with the addition of temporary employees. The General Services Administration has more than 800 employees in Kansas City, with most located at the Bannister Federal Complex in South Kansas City. The Bannister Complex is also home to the Kansas City Plant, which is a National Nuclear Security Administration facility operated by Honeywell. Honeywell employs nearly 2,700 at the Kansas City Plant, which produces and assembles 85 percent of the non-nuclear components of the United States nuclear bomb arsenal. The Social Security Administration has more than 1,700 employees in the Kansas City area, with more than 1,200 located at its Mid-America Program Service Center (MAMPSC) in downtown Kansas City. Company operates a large manufacturing facility just outside of Kansas City in Claycomo at the City Assembly Plant, which currently builds the F-150. It has previously assembled the Of late, it has been developing some academic and economic institutions related to animal health sciences, an effort most recently bolstered by the selection of Manhattan, Kansas, at one end of the Kansas City Animal Health Corridor, as the site for the National Bio and Agro-Defense Facility, which is tasked, among other things, to research animal-related diseases.Numerous agriculture companies operate out of the city. Dairy Farmers of America, the largest Dairy Co-op in the United States is located here. Kansas City Board of Trade is the principal trading Exchange for hard red winter wheat � the principal ingredient of bread.Tnew oblong headquarters in downtown Kansas CityThe business community is serviced by two major business magazines, the Kansas City Business Journal (published weekly) and Ingram's Magazine (published monthly), as well as numerous other smaller publications, including a local society journal, the Independent (published weekly). Kansas City is literally ""on the money."" Bills issued by the Federal Reserve Bank of Kansas City are marked the letter ""J"" and/or number ""10."" The single dollar bills have Kansas City's name on them. The Kansas City Federal Reserve built a new bank building that opened in 2008 and relocated near Union Station. Missouri is the only state to have two of the 12 Federal Reserve Bank headquarters (St. Louis also has a headquarters). Kansas City's effort to get the bank was helped by former Kansas City mayor who as senator broke a tie to get the Federal Reserve Act passed.The national headquarters for the Veterans of Foreign Wars is headquartered just south of Downtown Kansas City.With a Gross Metropolitan Product of $41.68 billion in 2004, Kansas City's (Missouri side only) economy makes up 20.5% of the Gross State Product of Missouri. In 2014. Kansas City was ranked as the number six city for real estate investment.

 

"

 

View Our Freight Factoring YouTube Videos For More Information

 

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

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.

 

 

"

Since the mid 1980s Perez Truck & Haul have been successfully running their freight business. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the boom times from 2002 to 2007 Perez Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. Times were great for everyone, and the cash was flowing.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

 

. Worse still, it was noticed by Perez in early 2008 that even though most of their loyal customers were on time with their payments, there were a few late bloomers who were starting to spread the disease. And as spring turmed to summer and summer into the early days of fall, Patrick Grant, CEO of Perez felt a chill go down his spine whenever he would look at the weekly A/R reports. There was a growing list of clients who now owed them back debt.He had gone to his administrators and asked them what the problem had been. Were they doing something wrong or different when it came to reaching out to delinquent accounts? When checking his bookkeeper's records this was definitely not the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Perez 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!.To Patrick Grant the situation looked desperate. Patrick 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, Carolyn, and still find no relief from the worry and frustration.

 

""Lin, I have a really bad feeling,"" he would say with deep woe.""What could you do differently?"" she would say.Patrick would stare off into the distance, and then slowly close his eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them traveling, bringing goods to all of his clients. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. Why couldn�t he work out how to resolve this financial problem with his business?""I know what it is,"" Patrick said. ""For way too long I've been relying solely on profits received from invoices. For too long I've been allowing our clients to let their accounts become overdue."" Linda could only grab her husband's hand and look at him lovingly, ""it is a hard economy. It might be awhile until things get settled up.

 

""Patrick 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 Patrick walked into his office with a spring in his step, determined to call each and every client who owed money to Perez Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Patrick 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. A waste of time - a waste of money - he had the best intentions, but all the while Patrick was realising just how much trouble he was in.After a half day of contacting debtors in vain - they dodged his calls or promised to call back at worst or made minimal interest-only payments at best - he was about to throw in the towel when his secretary Carolineerley knocked at his door.

 

""Patrick, can I have a word?"" she asked standing in the doorway.

 

""Of course Caroline, please come in."" Patrick relaxed back into his chair and looked up at Carolineerley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Patrick."" 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?"" Carolineerley 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?"" Patrick interrupted.""Immediately, yes"" she added, ""In a nutshell, it is pretty easy. We start by having a professional account manager review our figures and help us set up a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It�s a broad view.""I see,� Patrick 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. There�s a lot of flexibility depending on the business volume and credit histories. The company will advise us the cost to purchase factoring for our company's accounts receivable. We come to an agreement and the funding starts pouring out.�Patrick was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Caroline,"" he said.""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 Patrick,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" he asked.""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. ""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. 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,"" said Patrick.Patrick took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Patrick took a moment to think about this solution, and agreed with his secretary. The clients who owed them money were long standing friends and professional resources of Perez. Patrick 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.""Well, let me think about this tonight Caroline, thank you."" Caroline stood up and left Patrick's office, with the nice feeling of knowing that she may just have solved a very serious problem.Patrick sat behind his desk and looked over the details Caroline had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Perez Truck & Haul with? Running his pencil down the sheet, he noted that the freight factoring company could assist with fuel costs, fuel advances, and fuel discount cards. In fact, Perez 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.""I must tell Rafael the good news,"" muttered Patrick to himself.Rafael is Patrick's son-in-law, and he really admired the ideas behind Perez, so much so that only two years before he had started his own transportation service business. Patrick knew then what struggles Rafael would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Perez was hurting, a little guy like Rafael was about to catch his death. Perhaps the antidote to these problems was in freight factoring, and they were about to find out.Some months later, having successfully gone through the entire process of the application, having experts study his credit history and statements and review his accounts receivable, Patrick found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.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. Patrick recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. He probably wouldn't be in business today had he not learned just in time about freight factoring.

 

"

 

"

Kansas City is one of ten regional office cities for the United States Government. The U.S. Government is the largest employer in the Kansas City metro area, with more than 146 federal agencies maintaining a presence. The Internal Revenue Service maintains a large service center in Kansas City that is nearly 1,400,000 square feet (130,000 m2). The IRS facility is one of only two facilities in the nation to process paper returns. The IRS has approximately 2,700 full-time employees in Kansas City and upwards of 4,000 employees during peak tax season with the addition of temporary employees. The General Services Administration has more than 800 employees in Kansas City, with most located at the Bannister Federal Complex in South Kansas City. The Bannister Complex is also home to the Kansas City Plant, which is a National Nuclear Security Administration facility operated by Honeywell. Honeywell employs nearly 2,700 at the Kansas City Plant, which produces and assembles 85 percent of the non-nuclear components of the United States nuclear bomb arsenal. The Social Security Administration has more than 1,700 employees in the Kansas City area, with more than 1,200 located at its Mid-America Program Service Center (MAMPSC) in downtown Kansas City. Company operates a large manufacturing facility just outside of Kansas City in Claycomo at the City Assembly Plant, which currently builds the F-150. It has previously assembled the Of late, it has been developing some academic and economic institutions related to animal health sciences, an effort most recently bolstered by the selection of Manhattan, Kansas, at one end of the Kansas City Animal Health Corridor, as the site for the National Bio and Agro-Defense Facility, which is tasked, among other things, to research animal-related diseases.Numerous agriculture companies operate out of the city. Dairy Farmers of America, the largest Dairy Co-op in the United States is located here. Kansas City Board of Trade is the principal trading Exchange for hard red winter wheat � the principal ingredient of bread.Tnew oblong headquarters in downtown Kansas CityThe business community is serviced by two major business magazines, the Kansas City Business Journal (published weekly) and Ingram's Magazine (published monthly), as well as numerous other smaller publications, including a local society journal, the Independent (published weekly). Kansas City is literally ""on the money."" Bills issued by the Federal Reserve Bank of Kansas City are marked the letter ""J"" and/or number ""10."" The single dollar bills have Kansas City's name on them. The Kansas City Federal Reserve built a new bank building that opened in 2008 and relocated near Union Station. Missouri is the only state to have two of the 12 Federal Reserve Bank headquarters (St. Louis also has a headquarters). Kansas City's effort to get the bank was helped by former Kansas City mayor who as senator broke a tie to get the Federal Reserve Act passed.The national headquarters for the Veterans of Foreign Wars is headquartered just south of Downtown Kansas City.With a Gross Metropolitan Product of $41.68 billion in 2004, Kansas City's (Missouri side only) economy makes up 20.5% of the Gross State Product of Missouri. In 2014. Kansas City was ranked as the number six city for real estate investment.

 

"

 

More Trucking Factoring Companies Story Articles

"

The Future of a Trucking Company, and Factoring Nathan Cole let the phone ring on his desk. His morning coffee cooled and his cigarette smoked away in the tray: Nathan is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Cole 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.

 

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

 

To move Cole 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. He knew that turning down these requests made Cole Trucking look inefficient and weak in what was currently a strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Nathan allowed himself a good hard chuckle. His father had been against placing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). He knew his father's days were long gone and new technology was very important for the business, like having Qualcomm to reduce communication time for bills of lading.

 

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

 

But was factoring the answer? If he was being honest, he did not really understand how it all worked. It sounded 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 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.

 

Nathan had to really consider what his next step was going to be. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

But it turned out to be quite easy. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He was quite happy to sign 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. Many companies offered a non-recourse factoring program that suited him just fine. He was more than happy with the figures he was offered in percentage terms on the freight bills. It was good money.

 

For Nathan it was quite a relief to be dealing with the factoring company. They were extremely helpful and more personable than the bank staff. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar 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 Nathan because he and his father had built up good strong relationships over decades with their list of clients. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients would not have any problems, nor would they think poorly of Cole Trucking, because the factoring companies handle themselves in such a polite and professional manner, similar to the way his father had managed the business in the past.

 

Feeling happier now, Nathan stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. With the capabilities of this new cash flow, Nathan could actually expand Cole Trucking Company further across the country and perhaps even go international into Canada. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

"

 

 

View Our Freight Factoring Companies Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� asked Armando Harrison, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she stated.Armando 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 Sean. His company was called Stone Trucking, named after both of his grandfathers, Miguel and Jay. They had both been hardworking men, and had done a lot to make Armando the same.Disaster had struck half a year ago, when two trucks in Sean�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. Armando depended on his full fleet, and missing two trucks was devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.A big problem a lot of trucking companies came across was how bills were paid in the industry. You could go a month or more before bills were completely paid off. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Armando was an excellent business man, and he certainly hadn't done anything wrong. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.That�s where the woman across the desk came in. Armando knew she was employed by a Factoring company and that her name was Diane. Armando had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.Diane 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. This is a win-win situation: we are protected from a total loss, and you're protected from the ridiculous fees and charges you'd have to pay if you borrowed from a bank.Armando nodded. It sounded good to him, almost too good.The woman laughed. �You look like you don�t believe me,� she chuckled.�No, I do, I just think it sounds a bit too good to be true. I thought I was going to lose my company.�Diane nodded. �Yes, we get a lot of that. 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. We all need help sometimes. That�s what we�re here for.""Well, I'm very grateful that you came to see me today.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Diane with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Armando completed the form, with Diane offering advice as needed.

 

The completed profile gave Diane and her company all the information they needed on Sean's business, and with this information they would determine if this business would in fact be suitable for Factoring. In truth, not all companies were. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. Listening as Armando filled out his form, Diane was pretty sure he was a perfect candidate for factoring.Diane took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Sean's hand. He stood before they shook as well, and then smiled. Armando walked Diane to the door where they said 'Goodbye', then he went back into his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He leaned back and closed his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. But now, after speaking to Diane and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.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 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 successful. Offering home cooking in his own hometown, his business had really prospered.But he had gotten bored. His passion didn�t lie with the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took half a year off, and in that time he thought to start Stone Trucking. So he did it. For the second time in his short life he created a company from the ground up. He had been successful.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 he couldn�t give up. 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 it seemed as though he would not have to - all because of Factoring. Armando 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 Use Factoring Companies.

 

As the manager of your own establishment, you may perhaps be more than conscious already of the challenge in making sure that cash flow matters do not become a dilemma down the line. After all, the most horrible thing that can potentially happen for your establishment is to find yourself involved in a long and tough situation that leaves you forever looking for the funds you require on an continual manner.

 

For any establishment in this circumstance, the dilemma can come for waiting for work to clear up and actually be paid out into your account. Bill of sales, checks, and the like can take a while to actually to beprocessed which could leave you with momentary cash flow dilemmas. Thank goodness, there are options out there for firms to look into-- and one of these is factoring agencies.

 

Factoring firms will, in trade for your invoices, give you with the cash right away so you do not have to worry about the lingering duration that could make paying off the expenses and getting materialsmore complicated. With this form of system, invoice factoring can become exceptionally practical for several enterprises who ought to avoid a money trap which they have discovered themselves in.

 

Since, depending on the size of the job, it can take up to 60 days for several companies to get paid then it is significant to blanket your own back and not leave yourself resources short to settle the expenses. After all, how many enterprises have two months cash flow just occupying there to pay for all their overheads until they make money?

 

This is especially correct of trucking agencies. They tend to handle numbers of accounts which means a huge amount of collection period involves company owner themselves. Seeking to get paid promptly can eventually become an unbelievable struggle and this is the key reasons why you make use of trucking factoring firms who are glad to help out truckers particularly.

 

As most of us determine, trucking is an incredibly massive market with numerous firms out there handling hundreds of operators. Regretfully, several of these drivers land up in finances dilemmas considering that they are still anticipating work from six weeks in the past to actually compensate them. When this is the condition for a truck organization, turning to factoring firms for support might be the finest option left.

 

This means that a truck firm can provide the wages of the workers, keep all the trucks refilled with gas and continue to escalate, grow and expand without always waiting for the income which is taking too long to come in. Trucking Companies functioning without a factoring system used are leaving themselves at critical threat, as competitors cash out rapidly and carry on to develop.

 

There's genuinely not a thing to be worried about when it comes to making use of a Factoring contractor-- they typically are not like a financial institution or any individual who is going to leave you with a huge pile of debt to repay. You give them legitimate invoices from job you have already accomplished , you are merely expediting the repayment process.

 

In the United States, where truck enterprises do well, factoring companies are not considered getting a loan in any capacity. This confidential deal then lets both groups to make money and indulge in a worry-free future-- it provides the factoring company a warranted resource of profit to put into the list and it provides the trucking business the required money that they worked hard to gain.

 

The trucking establishment provides their accounts to the factoring business. The trucking factoring firm then collect the payment amounts from the trucking company's clients. Factoring has been in existence for hundreds of years and has been adopted for many years by a lot of various fields-- but none much more so than truckers. While you could lose out on a small part of the money, something like 1-3 % depending on who you deal with, it implies that you are acquiring the money today and can actually start setting the funds to do work.

 

Once and for all, an IOU or an invoice is certainly not going to finance overheads, is it? For trucking companies when the funds 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 notable quantity of time and money to get through the week till they are compensated once more.

 

So the next occasion your trucking enterprise is bearing some temporary cash flow issues and you are devoting an excessive amount of time chasing slow paying clients, why not start off taking into consideration using a factoring companies as a means to get your money and give yourself a more pleasant future in the eyes of your trucking staff and your bank difference?

 

 

 

 

 

 

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Traditional Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. While these loans are handy they are not available to every business. 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.

 

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. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to sell. Once 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

 

While not every business can take advantage of Trucking Factoring account financing (you have to have a business that has account receivables) for those that can use this type of financing there are several distinct benefits.

 

1. You will not Incur Debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating 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. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

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

 

3. You'll receive the money faster. 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.Interest is Paid Up Front. With a bank loan interest continues to build, and this has to be paid the whole time you have a business loan; however with a Trucking Factoring company there is no interest - they take it right off the top by deducting it from the total amount of receivable accounts. So 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. 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 most important benefits is that once you sell your accounts receivable to the factory company, you do not have to take time away from running your business to collect the money owed from reluctant to pay customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

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.A Trucking Factoring company is not the only method of gaining access to finance for the running and growing of your business, however it does offer a financing option well worth considering.

 

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Factoring Companies by City

New York City

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Charlotte


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Boston


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Portland


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Colorado Springs


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Jersey

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