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Is The Life of a Receivable Worth $1 to You - Our Freight Invoice Factoring Companies Can Give
Your Freight Company The Cash Your Company Needs

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Medium-Size freight businesses, particularly those who have not been in existence for really long, will commonly find it tough to secure a loan. Banks are typically hesitant to provide money to businesses that do not have a great deal of income and assets. They likewise want evidence of the practicality of a company and thus require that many operations, particularly little ones, been around for a certain quantity of time before they are prepared to hand over any cash. Due to the fact that of this, a small company typically has few money producing options when needs occur. One option readily available, but often overlooked, is factoring. This is an exceptional means for a small business to get money.

 

 

 

 

 

 

 

Take This One Minute Test - Select A Factoring Company Instead Of A Typical Bank Financing

Exactly how to Increase Money Flow Without Borrowing -Cash Money flow is one of the primary reasons businesses fail.

At one time or another, every business, even successful ones, have experienced poor money flow.

Cash flow does not have to be a problem any more. Do not be deceived -- banks are not the only locations you can get financing. Other solutions are offered and you do not have to borrow. Exactly what is truck factoring ? One option is called trucking factoring. Trucking Factoring is the procedure of offering invoices to a financier instead of waiting to gather the money from the customer. Oh, the Irony- Trucking factoring has a paradoxical difference: It is the monetary backbone of numerous of America's most successful businesses. Why is this paradoxical ? Since commercial factoring is not instructed in business colleges, is rarely mentioned in business plans and is fairly unknown to bulk of most of American business people.

Yet it is a monetary procedure that releases up billions of dollars every year, enabling thousands of companies to grow and prosper. Invoice Factoring has been around for thousands of years. Receivable Financing Businesses are financiers who pay money for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your client has actually agreed pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business deals, a large percentage of the retail business uses a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail transactions. Utilizing the purest definition of the word, these large consumer finance business are truly simply large Accounts Receivable Factoring Businesses of consumer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The store gets paid practically instantly, although you do not pay until you are prepared.

For this service, the credit card business charges Sears a charge (typical common normal fees vary from two to 4 percent of the sale). The Benefits Commercial Factoring can provide numerous benefits to cash-hungry companies. Instead of waiting 30, 60, 90 days or longer for payment on a product that has actually currently been provided, a company can factor (sell) its receivables for cash at a little discount off the amount of the invoice. Payroll, marketing efforts, and working capital are simply a few of the company requirements that can be satisfied with instant  cash.

Invoice Factoring offers the ways for a manufacturer to renew inventory and make even more products to sell: There is no longer a need to await for earlier sales to be paid. Receivable Loan Financing is not just a money management tool for manufacturers: Almost any type company can benefit from Truck Factoring. Generally, a business 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 bill or this week s payroll with a customer s invoice, but you can offer that invoice for the cash to meet those obligations. Using trucking factoring companies is a quick and simple procedure. The factor purchases the invoice at a price cut, typically a couple of percentage points less than the face value of the invoice.

 

 

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The United states Transportation Organization
specifies that there around
205,000 employees with freight trucking
firms and
276,000 private companies trucking
companies certified to
run in the United States that transported,
according to their newest listings of millions of
items, materials and
standard materials .
There are a number of common
providers either going solo or in
groups on our nation
highways transferring these
vital items to our
shops, manufacturingplants and shipping ports.

Moreover truck factoring
firms help
several of them and offer their
receivable loan services
nationwideincluding
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

 

According to USA Today, Omaha ranks eighth among the nation's 50 largest cities in both per-capita billionaires and Fortune 500 companies. [153] With diversification in several industries, including banking, insurance, telecommunications, architecture/construction, and transportation, Omaha's economy has grown dramatically since the early 1990s. In 2001 identified Omaha as one of the Top 10 high-tech havens in the nation.[154] Six national fiber optic networks converge in Omaha.[155]Omaha's most prominent businessman is, who is regularly ranked one of the richest people in the world. Five Omaha-based companies: [156] The city is also home to three of the 30 largest architecture firms in the United States, including HDR, Inc., DLR Group, Inc., and Leo A Daly.[157] Omaha has the fifth highest percentage of low-income African Americans in the country.[158] In 2013, ' named Omaha among its list of the Best Places for Business and Careers.[Omaha, the largest city in Nebraska and the seat of Douglas County, is located in the eastern part of the state on the west bank of the Missouri River, opposite Council Bluffs, Iowa.The Lewis and Clark expedition visited the area in 1804, and the U.S. Army built Ft. Atkinson nearby in 1819. Pierre Cabanne established a fur-trading post at the site in 1825. The first Mormon migrants wintered there in 1846�1847 on their way to Utah. The city grew rapidly as the most northerly supply point for overland wagons to the Far West.The city was officially founded in 1854 after the Nebraska Territory was opened for settlement. It was named for the Omaha Indians living nearby (whose tribal name means �those who go tream or against the current�). Omaha was incorporated as a city in 1857 and was the capital of the Nebraska Territory from 1855 to 1867. The city continued to thrive as a point of entry and a major transportation center when the Union Pacific transcontinental railroad arrived in 1869.Omaha is a major market for grain and livestock, food processing, telecommunications, and insurance. Other important industries include electrical equipment and finance as well as printing and publishing. It continues to be a major railroad hub

 

 

View Our Freight Factoring YouTube Videos For More Information

 

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

 

 

"

Hayes Truck and Haul has been in business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the boom times from 2002 to 2007 Hayes Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. Times were great for everyone, and the cash was flowing.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed to a crawl

 

. And worse yet, Hayes 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, Antonio Rogers, CEO of Hayes felt a chill go down his spine whenever he would look at the weekly A/R reports. There was a growing list of clients who now owed them back debt.He had already been to the administrators to ask what the actual problem was. Were they doing things different, or wrong, when it came to collecting overdue 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 Hayes money had jumped ship and decided to leave him holding the bag.

 

. 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 Hayes hadn't gone elsewhere. They had just gone home.The situation looked dire to Antonio Rogers. He had employees to pay, goods to ship, trucks to maintain and overhead that was almost unbearable when compared against the lack of funds that were coming in. In the evenings he would discuss his concerns with his wife, Robin, and still find no relief from the worry and frustration.

 

""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""What could you do differently?"" she would ask.Antonio would stare off for a moment and then close eyes. He could see the fleet of trucks he had purchased over the years. He could see them traveling, bringing goods to all of his clients. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. What could cause this ultimate death spiral of business?""I know what it is,"" Antonio said. ""I've relied too long on the profits I receive from invoices alone. I've let too many of our customers go too long without paying on their bills."" All Robin could do was hold his hand and look at him tenderly. 'We know it is a difficult economy at the moment - perhaps it will take a while for people to get on top of their bills'.""Antonio knew very well that Robin was only trying to help, but his responsibilities weighed heavily on his shoulders and he knew he had better do something soon to resolve this situation.The following day Antonio walked into his office with a spring in his step, determined to call each and every client who owed money to Hayes Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Antonio knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. Wasting money, wasting time - even with the best of intentions, Antonio knew that he was in trouble.

 

Poor Antonio 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.

 

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

 

""Of course Tanya, please come in."" Antonio leaned back in his chair and looked expectantly at Tanyaerely.""Well Antonio, 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 of factoring?"" she asked.""It does sound vaguely familiar. What is it?"" he said.She began, ""Well, it is really very simple. So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Antonio interrupted ""Immediately?"".""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. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It provides a very broad view.""I see,� Antonio said. �And then what?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. There�s a lot of flexibility depending on the business volume and credit histories. 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.�Leaning forward, Antonio studied the documents very closely.""I do not know, Tanya - it just sounds too good to be true"", Antonio 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. They appear to be very flexible, Antonio,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" asked Antonio.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. It only takes 2 to 4 days for this to be figured out. ""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. 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 Antonio.Antonio 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.""Antonio 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 Hayes. Just because they were experiencing difficulties paying their own bills now, Antonio was very concerned about losing these relationships. Antonio knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. 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 Tanya, thank you."" Tanya nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Antonio keep the shirt on his back, and possibly hers too.Antonio stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. What other issues could freight factoring help Hayes 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. Antonio was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Antonio was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""Well, I'll have to tell Nicholas about this,"" muttered Antonio to himself.Nicholas is Antonio's son-in-law, and he really admired the ideas behind Hayes, so much so that only two years before he had started his own transportation service business. At that time Antonio knew the struggles Nicholas would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Hayes was struggling then the little guys, like Nicholas, were going to be in even more trouble.

 

Perhaps the antidote to these problems was in freight factoring, and they were about to find out.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Antonio was beginning to find his way out of the hole his debtors had created for him.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They took that time and refocused effort to offering competitive prices in new territories. Antonio recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. If Antonio hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

According to USA Today, Omaha ranks eighth among the nation's 50 largest cities in both per-capita billionaires and Fortune 500 companies. [153] With diversification in several industries, including banking, insurance, telecommunications, architecture/construction, and transportation, Omaha's economy has grown dramatically since the early 1990s. In 2001 identified Omaha as one of the Top 10 high-tech havens in the nation.[154] Six national fiber optic networks converge in Omaha.[155]Omaha's most prominent businessman is, who is regularly ranked one of the richest people in the world. Five Omaha-based companies: [156] The city is also home to three of the 30 largest architecture firms in the United States, including HDR, Inc., DLR Group, Inc., and Leo A Daly.[157] Omaha has the fifth highest percentage of low-income African Americans in the country.[158] In 2013, ' named Omaha among its list of the Best Places for Business and Careers.[Omaha, the largest city in Nebraska and the seat of Douglas County, is located in the eastern part of the state on the west bank of the Missouri River, opposite Council Bluffs, Iowa.The Lewis and Clark expedition visited the area in 1804, and the U.S. Army built Ft. Atkinson nearby in 1819. Pierre Cabanne established a fur-trading post at the site in 1825. The first Mormon migrants wintered there in 1846�1847 on their way to Utah. The city grew rapidly as the most northerly supply point for overland wagons to the Far West.The city was officially founded in 1854 after the Nebraska Territory was opened for settlement. It was named for the Omaha Indians living nearby (whose tribal name means �those who go tream or against the current�). Omaha was incorporated as a city in 1857 and was the capital of the Nebraska Territory from 1855 to 1867. The city continued to thrive as a point of entry and a major transportation center when the Union Pacific transcontinental railroad arrived in 1869.Omaha is a major market for grain and livestock, food processing, telecommunications, and insurance. Other important industries include electrical equipment and finance as well as printing and publishing. It continues to be a major railroad hub

 

 

More Trucking Factoring Companies Story Articles

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

 

More than forty years ago Craig's father had started this business working as an owner-operator and eventually growing Washington Trucking Company into a fifteen trailer fleet. Yes, they had survived some very difficult times when it appeared like they might go under, and even Craig'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 Craig's hands and he needed to ensure that this business would be left in great shape for his sons.

 

To move Washington 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 all have families and the usual household bills. 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 Washington Trucking look inefficient and weak in what was currently a strong market.

 

His father would have told him to wait and to take his time adding on new technology. Craig chuckled, thinking about his father. He remembered when his father was totally against installing 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.

 

Craig knew he was right in his forward thinking. What would be the next step for Washington Trucking? And how would he be able to afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

He wondered about factoring - was this the answer for him? There was a lot he didn�t understand about the process. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. Without this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

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

 

But it turned out to be quite easy. 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 didn�t mind signing an exclusive contract. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. Many companies offered a non-recourse factoring program that suited him just fine. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It was good money.

 

For Craig 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 didn�t worry over his credit and the debt troubles his father had had in the past of the company. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Craig because he and his father had created a very strong and loyal list of clientele over the years. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients would not have any problems, nor would they think poorly of Washington 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, Craig 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, Craig could actually expand Washington Trucking Company further across the country and perhaps even go international into Canada. 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.

 

 

 

Watch Our Freight Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So, this is not a loan?� asked Julio Rose, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she said.Julio Rose 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 Claude. He named his business Caldwell Trucking, named after Isaac and Nathaniel, his two grandfathers. They had both been hardworking men, and had done a lot to make Julio the same.Disaster had struck half a year ago, when two trucks in Claude�s fifteen truck fleet went down. One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. The financial security of Claude's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

Waiting a month or longer for bills to be paid was quite normal. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Julio was an excellent business man, and he certainly hadn't done anything wrong. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.And that's why he found himself across the desk from this woman. Julio knew she was employed by a Factoring company and that her name was Emma. Julio 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.She sat there now, and explained. �it is really not a loan at all: we actually buy 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.Julio agreed. It sounded perfect - perhaps too good?.Emma 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 thought I was going to lose my company.�Emma smiled, agreeing. �Yes, we get a lot of that. There's no way we want to see you lose your business. You work hard, you�ve put everything you can into it. We all need help sometimes. That's why we do what we do.""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,� Emma said with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Julio filled the form out, with Emma available to help him if he needed it. The profile filled Emma and her company in on Claude�s company, and would help them determine if he was suitable for factoring. In truth, not all companies were. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. As Julio completed his form, Emma listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Emma took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Claude's hand. He also stood up, and they smiled at each other. Julio walked Emma 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. Talking to Emma though, learning about factoring, it felt like a weight had been lifted from 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 sudden panic attacks, not matter 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.Julio couldn�t help but think back to when he had first started the business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been successful. Home cooking in his hometown, and he had done very well.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 half a year off, and in that time he thought to start Caldwell Trucking. And that's exactly what he did. 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, because of factoring, he was sure he wouldn�t have to. Claude's eyes opened, he sat forward in his chair and turned on his computer. He had things 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 Companies Work with Factoring Companies.

 

As the operator of your own business, you may be more than conscious already of the challenge in making sure that cash flow matters do not become a difficulty down the line. After all, the most terrible thing that can in all probability occur for your enterprise is to find yourself involved in a long and perplexing situation that leaves you forever looking for the cash you need to have on an continual basis.

 

For virtually any company in this situation, the complication can come for waiting for work to lapse and actually be paid into your statement. Bill of sales, checks, and the like can take some time to actually to be taken care of which can certainly leave you with short-term capital troubles. Luckily, there are alternatives out there for industries to check out-- and among these is factoring firms.

 

Factoring agencies will, in trade for your statements, provide you with the money right away to ensure you do not need to worry about the lingering time frame that could make paying off the bills and getting materialsmore hard. With this type of arrangement, invoice factoring can become extremely beneficial for several firms who need to avoid a cash pitfall which they have discovered themselves in.

 

For the reason that, basing on the volume of the task, it can take up to 60 days for a number of companies to get paid then it is critical to take care of your own back and not leave yourself cash short to pay off the costs. After all, how many business enterprises possess two months profits just lying there to handle all their expenditures until they get paid?

 

This is most notably correct of truck agencies. They usually handle great deals of statements which means a serious quantity of collection period concerns business owner themselves. Seeking to get compensated promptly can eventually become an amazing headache and this is the key reasons why you employ trucking factoring firms who are delighted to help out truckers particularly.

 

As all of us determine, trucking is an incredibly large field with lots of firms out there utilizing hundreds of vehicle drivers. The sad thing is, several of these drivers end up in cash difficulties since they are still waiting for work from six weeks earlier to actually pay them. When this is the scenario for a trucking company, turning to factoring agencies for aid may be the very best alternative left.

 

This signifies that a trucking company can pay the salaries of the crew, keep all the cars loaded with gas and continue to escalate, rise and expand without continually waiting for the cash which is taking too prolonged to come in. Trucking Business enterprises running without a factoring program put in place are leaving themselves at substantial threat, as competitors cash out fast and proceed to develop.

 

There's genuinely almost nothing to be distressed about when it comes to working with a Factoring company-- they usually are not like a banking company or a person who is going to leave you with a large heap of liability to pay back. You give them genuine invoices from job you have already finalized , you are just hastening the payment system.

 

In the United States, where trucking firms flourish, factoring firms are not considered getting a loan in any capacity. This confidential arrangement then allows both groups to profit and indulge in a worry-free future-- it gives the factoring provider a guaranteed resource of income to include in the list and it gives the trucking business the required finances that they sweated to acquire.

 

The trucking business provides their statements to the factoring enterprise. The trucking factoring business then receive the payments from the trucking company's customers. Factoring has been all around for hundreds of years and has been employed for many years by plenty of varying business sectors-- but none much more so than truckers. While you may well lose out on a small part of the money, something like 1-3 % depending on who you work with, it means that you are receiving the resources today and can actually begin putting the money to work.

 

Anyway, an IOU or an invoice is not actually going to cover bills, is it? For trucking companies when the hard earned cash can be really good one day and gone the next, it is up to the drivers to work sensibly and to guarantee they are leaving themselves with a considerable amount of time and finance to get through the week up until they are compensated once again.

 

So the next instance your trucking company is having some temporary cash flow problems and you are devoting excessive time chasing sluggish paying clienteles, why not begin looking into employing a factoring businesses as a way to get your money and give yourself a more at ease future in the eyes of your trucking workers and your bank balance?

 

 

 

 

 

 

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Traditional Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. These loans can be a life-saver, but they're not always available to every business. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it 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. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Once the loan is paid off, you can then apply for another loan if the need arises.

 

What Are Trucking Factoring Companies?

 

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

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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

 

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

 

3. Receive Your Money Faster. 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.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 you do not have to worry about monthly loan repayments, and you do not have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very efficient at debt collecting, and this frees up your valuable time to devote to running your company.

 

In addition, since the Trucking Factoring company evaluates the credit quality of your customers prior to purchasing the accounts receivable you gain valuable information into which customers are likely to pay and which ones are not so likely to pay.While a Trucking Factoring company is not the only way for your business to obtain the money it needs to keep growing, it does offer a type of financing well worth considering.

 

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