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How I Improved My Profits in One Evening - Our Accounts Receivable Factoring Company Can Give
Your Trucking Company The Money You Want

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freight invoice factoring

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freight factoring definition

Small freight brokerage businesses, particularly those who have actually not been in existence for extremely long, will commonly discover it tough to protect a loan. Banks are often hesitant to provide cash to companies that do not have a great deal of earnings and possessions. They also want evidence of the practicality of a business and therefore need that most operations, specifically small ones, be in business for a particular amount of time before they are eager to hand over any cash. Because of this, a medium-size business frequently has a couple of cash creating choices when needs develop. One alternative available, however frequently neglected, is invoice factoring. This is an exceptional method for a small company to acquire money.

 

 

 

 

 

 

 

Take This One Minute Test - Pick An Invoice Factoring Company Instead Of A Regular Bank Funding

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

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

Money flow does not have to be an issue any more. Do not be fooled -- banks are not the only locations you can get funding. Other options are offered and you do not have to borrow money. What is truck factoring ? One option is called trucking factoring. Trucking Factoring is the process of selling invoices to an investor rather than waiting to gather the cash from the customer. Oh, the Irony- Truck factoring has a paradoxical difference: It is the monetary foundation of numerous of America's most effective companies. Why is this ironic ? Since invoice factoring is not instructed in business colleges, is rarely discussed in business strategies and is relatively unknown to bulk of most of American company people.

Yet it is a monetary process that frees billions of dollars every year, enabling countless businesses to grow and prosper. Truck Factoring has been around for countless years. Receivable Loan Financing Companies are financiers who pay cash for the right to receive the future payments on your invoices. An overdue receivable or invoice has value. It is a debt your customer has to pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business deals, a large portion of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail transactions. Utilizing the purest meaning of the word, these large customer finance business are truly just large Receivable Loan Financing Companies of customer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The store gets paid practically immediately, although you do not pay until you are prepared.

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

Account Receivable Financing offers the ways for a manufacturer to replenish inventory and make more products to sell: There is no longer a need to wait for earlier sales to be paid. FACTORING is not simply a money management device for manufacturers: Practically any type business can benefit from Receivable Financing. Generally, a company that extends credit will have 10 to 20 percent of its annual sales bound in accounts receivable at any given time. Think for a moment about exactly how much is bound in 60 days' worth of invoices: You can not pay the power expense or this week s payroll with a customer s invoice, however you can sell that invoice for the cash to satisfy those obligations. Using trucking factoring companies is a fast and simple process. The factoring company buys the invoice at a price cut, usually a couple of portion points less than the face value of the invoice.

 

 

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The U.s. Truck Organization
states that there around
205,000 work with truck
businesses and
276,000 personal providers trucking
firms licensed to
run in the U.S. that transported,
according to their newest data of millions
items, materials and
standard products .
There are several common
providers either going solo or in
groups on our country
roads transferring these
important products to our
shops, factories and harbors.

Furthermore trucking factoring
companies help
several of them and offer their
factoring facilities
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

 

"

Nashville is the capital of the U.S. state of Tennessee and the county seat of Davidson County. It is located on the Cumberland River in the north-central part of the state. The city is a center for the music, healthcare, publishing, banking and transportation industries, and is home to a large number of colleges and universities. Reflecting the city's position in state government, Nashville is home to the Tennessee Supreme Court's courthouse for Middle Tennessee. It is known as a center of the music industry, earning it the nickname ""Music City"".Nashville has a consolidated city�county government which includes six smaller municipalities in a two-tier system. As of the 2010 census the population of Nashville, not including the semi-independent municipalities, stood at 601,222. The population of Nashville as a whole, including all municipalities, was 626,681. Nashville is the second largest city in Tennessee, after Memphis, and the fifth largest city in the Southeastern United States. The 2010 population of the entire 13-county Nashville metropolitan area was 1,589,934, making it the largest Metropolitan Statistical Area in the state. The 2010 population of the Nashville-Davidson�Murfreesboro�Columbia combined statistical area, a larger trade area, was 1,670,890.[8As the ""home of country music"", Nashville has become a major music recording and production center. All of the Big Four record labels, as well as numerous independent labels, have offices in Nashville, mostly in the Music Row area. Nashville has been home to the headquarters of guitar company son since 1984. Since the 1960s, Nashville has been the second-largest music production center (after New York) in the U.S. As of 2006, Nashville's music industry is estimated to have a total economic impact of US$6.4 billion per year and to contribute 19,000 jobs to the Nashville area.Although Nashville is renowned as a music recording center and tourist destination, its largest industry is actually health care. Nashville is home to more than 300 health care companies,As of 2012, it is estimated that the health care industry contributes US$30 billion per year and 200,000 jobs to the Nashville-area economy. The automotive industry is also becoming increasingly important for the entire Middle Tennessee region. . Largely as a result of the increased development and other Japanese economic interests in the region, Japan moved its New Orleans consulate-general to Nashville's Palmer Plaza.Other major industries in Nashville include insurance, finance, and publishing (especially religious publishing). .Nashville is also known for some of their famously popular Southern confections, including (which have been made in Nashville since 1912).

 

"

 

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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:

Searching for the right trucking companies to move your freight can be tough, with the large amount of local, regional, and national truck carriers out there. Center helps make freight shipping simple, finding you the safest, reliable trucking companies every time you ship. Trucking companies are licensed and insured to carry freight safely and efficiently across the country, no matter the size or type of freight you need to ship.Plus, with the high volume of freight we move, we will work to get you the best freight rates possible. Simply enter in a few details below and you�ll see instant freight rates from all the top trucking companies in one easy screen

 

Click below to find Trucking Companies in the United States:

Trucking Companies serving to/from points within the United States,
categorized by services offered. United States Trucking
Companies will be listed under all categories in which they provide specified Trucking Services.
To find companies offering specific Trucking Services in the United States, click on the list of services below.

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.

 

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.

 

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

 

 

"

Fisher 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 Fisher Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. Times were great for everyone, and the cash was flowing.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed to a crawl

 

. Worse still, it was noticed by Fisher 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. Spring changed to summer, summer changed to fall, and the CEO of Fisher, Norman Armstrong, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The numbers of clients who owed him back debt were growing.He had already been to the administrators to ask what the actual problem was. Were they doing 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 Fisher 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. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. They had just gone home.The situation looked dire to Norman Armstrong. There were goods to ship, employees to pay, trucks to repair and maintain, and continuous overheads that were very extensive when compared to the funds (or lack of) that were incoming. After work he would confide in his wife, Cindy, and neither were unable to stop the constant worry over the lack of funds.""I have a bad feeling, Lin,"" he'd sadly say to his wife.""What could you do differently?"" she would ask.Norman would stare off for a moment and then close eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them on the road, delivering good to all his loyal customers. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What on earth was happening to create the death of his business?""I think I know what it could be,"" Norman 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."" All Cindy 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'.""Norman knew very well that Cindy was only trying to help, but his responsibilities weighed heavily on his shoulders and he knew he had better do something soon to resolve this situation.The next day Norman strolled into his office and was determined to sit down and make every phone call to every client who had owed Fisher money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Norman knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. Wasting money, wasting time - even with the best of intentions, Norman knew that he was in trouble.

 

Poor Norman 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.

 

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

 

""Sure thing Pearl, come on in."" Norman leaned back in his chair and looked expectantly at Pearlerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Norman."" 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?"" Pearlerley asked.""It sounds vaguely familiar. What is factoring""? he asked.""Well,"" she began, ""It�s actually quite simple really.

 

Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Norman interrupted ""Immediately?"".""Immediately, yes"" she added, ""In a nutshell, it is pretty easy. We can have an expert account manager review our numbers and help us complete a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. 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.""Norman replied cautiously ""I see - and what happens then?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

The company will advise us the cost to purchase factoring for our company's accounts receivable. We come to an agreement and the funding starts pouring out.�Norman leaned forward and reviewed the paperwork closely.""I do not know, Pearl - it just sounds too good to be true"", Norman said quietly.""Now, now, I know, I thought the same thing. But think about it, Norman: they've guaranteed that experts will do all the paperwork, and that will free us up to do what we should be doing - focusing on our customers in good standing, and that kind of stuff. And they're flexible Norman,"" 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. ""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 Norman.Norman took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Precisely�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Norman took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Fisher Truck & Haul were professional resources of the company, but they were also long-standing friends. They did not want to throw away these relationships because they were having trouble paying their bills now. Norman 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. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. He did not want to lose business but he also did not want to lose any more money.""Let me go over this tonight Pearl, and thankyou."" Pearl nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Norman stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. He wondered if there might be other problems freight factoring could help Fisher 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, Fisher 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 Byron the good news,"" muttered Norman to himself.His son-in-law Byron had liked the idea of Fisher so much and revered his father in law for having such business acumen that only two years before, he had gathered the venture capital to begin his own transportation service company. At that time Norman knew the struggles Byron would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Fisher was hurting, a little guy like Byron was about to catch his death. But, an antidote may have been found in freight factoring and Norman was soon 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 Norman was beginning to find his way out of the hole his debtors had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They used that time to refocus their efforts in being competitive in new territories. Norman recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

"

Nashville is the capital of the U.S. state of Tennessee and the county seat of Davidson County. It is located on the Cumberland River in the north-central part of the state. The city is a center for the music, healthcare, publishing, banking and transportation industries, and is home to a large number of colleges and universities. Reflecting the city's position in state government, Nashville is home to the Tennessee Supreme Court's courthouse for Middle Tennessee. It is known as a center of the music industry, earning it the nickname ""Music City"".Nashville has a consolidated city�county government which includes six smaller municipalities in a two-tier system. As of the 2010 census the population of Nashville, not including the semi-independent municipalities, stood at 601,222. The population of Nashville as a whole, including all municipalities, was 626,681. Nashville is the second largest city in Tennessee, after Memphis, and the fifth largest city in the Southeastern United States. The 2010 population of the entire 13-county Nashville metropolitan area was 1,589,934, making it the largest Metropolitan Statistical Area in the state. The 2010 population of the Nashville-Davidson�Murfreesboro�Columbia combined statistical area, a larger trade area, was 1,670,890.[8As the ""home of country music"", Nashville has become a major music recording and production center. All of the Big Four record labels, as well as numerous independent labels, have offices in Nashville, mostly in the Music Row area. Nashville has been home to the headquarters of guitar company son since 1984. Since the 1960s, Nashville has been the second-largest music production center (after New York) in the U.S. As of 2006, Nashville's music industry is estimated to have a total economic impact of US$6.4 billion per year and to contribute 19,000 jobs to the Nashville area.Although Nashville is renowned as a music recording center and tourist destination, its largest industry is actually health care. Nashville is home to more than 300 health care companies,As of 2012, it is estimated that the health care industry contributes US$30 billion per year and 200,000 jobs to the Nashville-area economy. The automotive industry is also becoming increasingly important for the entire Middle Tennessee region. . Largely as a result of the increased development and other Japanese economic interests in the region, Japan moved its New Orleans consulate-general to Nashville's Palmer Plaza.Other major industries in Nashville include insurance, finance, and publishing (especially religious publishing). .Nashville is also known for some of their famously popular Southern confections, including (which have been made in Nashville since 1912).

 

"

 

More Trucking Factoring Companies Story Articles

Factoring in the Future of a Trucking Business: A Story Ernest Long let the phone ring on his desk. He let his morning coffee cool and left his cigarette to ash itself in the tray, because he is trying to make the biggest decision ever for his trucking company. Long 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 Ernest's father had started this business working as an owner-operator and eventually growing Long 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 Ernest'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 Ernest's hands and he needed to ensure that this business would be left in great shape for his sons.

 

There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. He had employees to pay. They had families and household bills too. 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 Long 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'. Ernest allowed himself a good hard chuckle. 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?� 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.

 

Ernest knew he was right in his forward thinking. What would be the next step for Long Trucking? More importantly, how could he afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

He wondered about factoring - was this the answer for him? There was a lot he didn�t understand about the process. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Ernest had to really consider what his next step was going to be. Ernest had heard that there were companies that charged for same day money transfers and would only advance a percentage of the money owed to your company while holding the rest in a private account if they didn�t get their bill payment within 60 or so days. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! 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. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. 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. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a 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 sounded like a great scheme to him.

 

It was really refreshing dealing with the factoring people. 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. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Ernest because he and his father had created a very strong and loyal list of clientele over the years. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients wouldn�t think poorly of Long Trucking and the factoring companies appeared capable of handling the accounts receivable in the same polite manner that his father had used over the years.

 

Feeling happier now, Ernest 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, Ernest could actually expand Long 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.

 

 

 

 

 

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Trucking Factoring  Articles

"

�So It is not a loan?� Justin Porter asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Justin smiled at him, shaking her head.�No, not exactly,� she stated.Justin Porter 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 Dennis. His company was called Vargas Trucking, named after both of his grandfathers, Leroy and Lloyd. They had both been hardworking men, and had done a lot to make Justin the same.Six months ago disaster struck Dennis's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. Justin depended on his full fleet, and missing two trucks was devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Justin had on hand.A big problem a lot of trucking companies came across was how bills were paid in the industry. Waiting a month or longer for bills to be paid was quite normal. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Justin wasn�t a bad owner, and he hadn�t messed up. 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.And that's why he found himself across the desk from this woman. Justin knew she was employed by a Factoring company and that her name was Jessie. He had accidentally come across her company one night when he was working late, searching the internet to see if there was some solution to his financial dilemma.She sat there now, and explained. �it is really not a loan at all: we actually buy your accounts receivable. we are not giving you finance to be repaid later: we are purchasing something from you, and when you can you can buy it back. That way we�re protected from a complete loss, but you�re protected from the outrageous fees you would find in a loan from the bank.Justin nodded. It sounded perfect - perhaps too good?.The woman laughed. �You look like you don�t believe me,� she chuckled.�Oh no, I do: it just sounds too good to be true. I actually thought I might end up losing my business.�Jessie smiled, agreeing. �Yes, we get a lot of that. Listen, I�d hate to see you lose your company. You work hard, you�ve put everything you can into it. Sometimes you need help. That's why we do what we do.""In any case, thank you for coming to see me.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� Jessie said with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.

 

Justin completed the form, with Jessie offering advice as needed.

 

The completed profile gave Jessie and her company all the information they needed on Dennis's business, and with this information they would determine if this business would in fact be suitable for Factoring. Unfortunately, not all companies are. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. Listening as Justin filled out his form, Jessie was pretty sure he was a perfect candidate for factoring.Jessie took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Dennis's hand. He also stood up, and they smiled at each other. They said their goodbyes and Justin walked her to the door, and then returned to his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He 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 Jessie though, learning about factoring, it felt like a weight had been lifted from 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 sudden panic attacks, not matter where he was. Already he could feel all the stress start to drain away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was 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. Home cooking in his hometown, and he had done very well.But it wasn't what he really wanted to do. His passion didn�t lie with the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took half a year off, and in that time he thought to start Vargas 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.And then the trucks went down, and his success looked to be in flux. He was about to turn fifty. He didn�t think he had it in him, to save this company. But he couldn�t give up. The idea of cutting his losses, shutting down, laying off his workers, it actually made him 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. Justin opened his eyes, sat forward, turned his computer on. He had lots to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

Why Truck Establishments Utilize Factoring Companies.

 

As the manager of your own business, you may perhaps be more than mindful already of the challenge in making sure that cash flow issues do not become a difficulty down the line. After all, the most terrible thing that can quite possibly occur for your establishment is to find yourself embroiled in a long and challenging condition that leaves you forever looking for the funds you need on an ongoing manner.

 

For any kind of establishment in this scenario, the dilemma can come for waiting for work to clear up and actually be paid out into your account. Statements, checks, and the like could take a long time to actually to be taken care of which can leave you with temporary available resources problems. The good news is, there are alternatives out there for industries to explore-- and just one of these is factoring providers.

 

Factoring agencies will, in trade for your bill of sales, give you with the money now so you do not need to stress over the delaying phase that could make paying the expenses and purchasing toolsmore difficult. With this type of system, invoice factoring can come to be extremely valuable for numerous establishments who need to get out of a cash ploy which they have discovered themselves in.

 

Given that, depending on the volume of the job, it can take up to 60 days for a number of firms to get compensated then it is necessary to take care of your own back and certainly not leave yourself money short to pay off the monthly bills. After all, how many enterprises have two months profits just occupying there to pay for all their spendings until they earn?

 

This is particularly true of truck companies. They have the tendency to manage bunches of invoices which means a serious quantity of collection period entails company owner themselves. Making an effort to get paid off promptly can eventually become an extraordinary struggle and this is the reason why you utilize truck factoring companies who are thrilled to help out truckers mainly.

 

As we all know, trucking is an astonishingly massive market with plenty of organizations out there working with hundreds of drivers. Regretfully, numerous of these drivers land up in cash problems simply because they are still awaiting work from six weeks previously to actually pay them. When this is the situation for a trucking organization, depending on factoring providers for solutions maybe the most recommended alternative left.

 

This means that a truck firm can pay off the paychecks of the workers, keep all the vehicles topped off with gas and continue to scale, thrive and expand without consistently waiting for the finances which is taking too long to come in. Trucking Enterprises operating without a factoring system put in place are leaving themselves at notable hazard, as rivals cash out quickly and carry on to expand.

 

There's absolutely nothing at all to be stressed about when it comes to working with a Factoring contractor-- they commonly are not like a banking company or an individual who is going to leave you with a significant pile of personal debt to repay. You give them legitimate invoices from output you have already finished , you are only accelerating the repayment system.

 

In the Usa, where trucking agencies do well, factoring companies are not considered accepting loan of in any capacity. This private deal then makes it possible for both groups to make money and enjoy a convenient future-- it gives the factoring provider a secured asset of income to put into the list and it offers the trucking company the required money that they worked hard to obtain.

 

The trucking firm gives their statements to the factoring business. The trucking factoring provider then obtain the payment amounts from the trucking company's clients. Factoring has been all around for hundreds of years and has been employed for many years by plenty of various markets-- but none exceeding so than truckers. While you might miss out on a small part of the money, something like 1-3 % depending upon who you partner with, it implies that you are receiving the resources today and can actually begin setting the cash to do work.

 

After all, an IOU or an invoice is definitely not going to fund bills, is it? For trucking enterprises when the finances can be good one day and gone the next, it is up to the drivers to work sensibly and to make certain they are leaving themselves with a considerable amount of time and finance to get through the week till they are handed over again.

 

So the next time your trucking company is bearing some temporary capital dilemmas and you are putting in a lot of time chasing sluggish paying clients, why not start off thinking about employing a factoring businesses as a way to get your money and give yourself a more comfortable future in the eyes of your trucking team 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. While these loans are handy they are not available to every business. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Once the loan is paid off, you can then apply for another loan if the need arises.

 

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.

 

What Are The Benefits Of A Trucking Factoring Company Versus A Traditional Bank Loan?

 

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

 

1. There is no debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. 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. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. There's no collateral required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

3. You'll receive the money faster. 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. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.

 

4.You receive interest up-front. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you do not have to continue to pay interest as they take it right off the top, deducting it from the total amount of accounts receivable. 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, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. 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.

 

Another bonus is that, because the Trucking Factoring company has evaluated the quality of your customers' credit before buying the accounts receivable, you learn valuable information regarding your customers, like which ones are likely to pay, and which ones are less likely to pay.While a Trucking Factoring company is not the only way for your business to obtain the money it needs to keep growing, it does offer a type of financing well worth considering.

 

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