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Is The Life of a Receivable Worth $1 to You - Our Invoice Factoring Company Can Provide
Your Truck Company The Money You Want

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Using a Truck Factoring Company is advantageous for several factors. It enables a truck firm to raise money without obtaining new debt. While financial obligation is sometimes required, most truck companies would like to raise money without borrowing cash. Debt is high-risk, and when it cannot be paid back, properties can be repossessed. If the financial obligation is large enough, it could even force a truck businesses out of business.

 

 

 

 

 

 

 

Only Companies with imagination can take it - Choose An Accounts Receivable Factoring Company Instead Of A Regular Bank Financing

How to Increase Cash Flow Without Loaning -Cash Money flow is among the main reasons companies fail.

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

Cash flow does not have to be a problem any ever more. Do not be fooled -- banks are not the only locations you can get financing. Other options are available and you do not have to borrow money. Exactly what is trucking factoring ? One option is called trucking factoring. Trucking Factoring is the procedure of offering invoices to an investor instead of waiting to collect the cash from the client. Oh, the Irony- Truck factoring has a paradoxical distinction: It is the monetary backbone of many of America's most effective companies. Why is this ironic ? Since receivable funding is not taught in business colleges, is seldom discussed in business strategies and is fairly unidentified to the majority of most of American business people.

Yet it is a financial procedure that frees billions of dollars every year, allowing thousands of companies to grow and prosper. Invoice Factoring has been around for countless years. Receivable Financing Businesses are financiers who pay cash for the right to get the future payments on your invoices. An overdue receivable or invoice has value. It is a financial obligation your customer has agreed pay in the near future. Factoring Principals--Although factoring deals solely with business-to-business transactions, a large percentage of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail transactions. Using the purest meaning of the word, these big customer finance business are really just big Trucking Factoring Companies of customer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The shop gets paid practically instantly, although you do not make payment up until you are ready.

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

Receivable Loan Funding provides the means for a manufacturer to renew stock and make even more items to offer: There is no longer a need to await for earlier sales to be paid. Receivable Loan Financing is not simply a money management tool for manufacturers: Practically any kind company can benefit from Staffing Factoring. Typically, 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 minute about exactly how much is tied up in 60 days' worth of invoices: You can not pay the power expense or today s payroll with a client s invoice, but you can offer that invoice for the money to meet those responsibilities. Using truck factoring companies is a fast and easy procedure. The factor buys the invoice at a discount, usually a few percentage points less than the face value of the invoice.

 

 

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The American Transportation Association
mentions that there around
200,000 workers with truck
companies and
276,000 personal companies trucking
firms certified to
run in America that transferred,
according to their newest listings of millions of
items, supplies and
basic materials .
There are a number of typical
carriers either going solo or in
groups on our nation
roadways transporting these
important products to our
shops, manufacturingplants and ports.

Also truck factoring
corporations aid
several of them and offer their
receivables financing services
countrywidecomprising
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

 

"

Cleveland is the second-largest city in Ohio and the seat of Cuyahoga County. It is located in the northeast part of the state on Lake Erie. In the colonial era, the Cleveland area was known as the Connecticut Western Reserve, part of a land grant made to Connecticut by King Charles II in 1662. The city was founded in 1796 by Gen. Moses Cleaveland, who was the head surveyor of the Connecticut Land Company. This company had bought 3 million acres in what is now northern Ohio. A permanent settlement was founded in 1799, named after the general, and the spelling was shortened to Cleveland. The city was incorporated in 1836.Cleveland's industrial growth was stimulated by the opening of the Ohio and Erie canals in 1832 and, later, by the advent of the Civil War, with the increasing demand for machinery, railroad equipment, ships, and other items. Today, the port of Cleveland is the largest overseas general cargo port on Lake Erie. Greater Cleveland has long been famous as a durable goods manufacturing area. Following the national trend, however, Cleveland has been shifting to a more services-based economy. Greater Cleveland is a world corporate center for leading national and multinational companies in industries ranging from transportation, insurance, retailing, and utilities, to commercial banking and finance.The city's cultural attractions include the Cleveland Museum of Art and the Cleveland Orchestra, one of the country's most highly acclaimed symphony orchestras. Jacobs Field, a major league ballpark, and the Rock & Roll Hall of Fame also draw thousands of visitors to the cityCleveland's geographic location on the Cuyahoga River and Lake Erie has been key to its growth. The Ohio and Erie Canal coupled with rail links helped establish the city as an important business center. Steel and many other manufactured goods emerged as leading industries.The city diversified its economy in addition to its manufacturing sector.In 2007, Cleveland's commercial real estate market experienced rebound with a record pace of purchases, with a housing vacancy of 10%. Downtown Cleveland from the Superior Viaduct.The Cleveland Clinic is the city's largest private employer with a workforce of over 37,000 as of 2008. It carries the distinction as being among America's best hospitals with top ratings published in & World Report. Cleveland's healthcare sector includes University Hospitals of Cleveland, a renowned center for cancer treatment, and MetroHealth medical center. Cleveland is also noted in the fields of biotechnology and fuel cell research, led by Case Western Reserve University, the Cleveland Clinic, and University Hospitals of Cleveland. Cleveland is among the top recipients of investment for biotech start- and research. Case Western Reserve, the Clinic, and University Hospitals have recently announced plans to build a large biotechnology research center and incubator on the site of the former Mt. Sinai Medical Center, creating a research campus to stimulate biotech startup companies that can be spun off from research conducted in the city. NASA's Glenn Research Center is adjacent to Cleveland Hopkins International Airport.City leaders promoted growth of the technology sector in the first decade of the 21st century. Mayor l appointed a ""tech czar"" to recruit technology companies to the downtown office market, offering connections to the high-speed fiber networks that run underneath downtown streets in several ""high-tech offices"" focused on the Euclid Avenue area. Cleveland State University hired a technology transfer officer to cultivate technology transfers from CSU research to marketable ideas and companies in the Cleveland area, and appointed a vice president for economic development. Case Western Reserve University participated in technology initiatives such as the OneCommunity project, a high-speed fiber optic network linking the area's research centers intended to stimulate growth. In mid-2005, Cleveland was named an Intel ""Worldwide Digital Community"" along with Corpus Christi, Texas, Philadelphia, Pennsylvania, and Taipei. This added about $12 million for marketing to expand regional technology partnerships, created a city-wide Wi-Fi network, and developed a tech economy. In addition to this Intel initiative, in January 2006 a New York-based think tank, the Intelligent Community Forum, selected Cleveland as the sole American city among its seven finalists for the ""Intelligent Community of the Year"" award. The group announced that it nominated the city for its OneCommunity network with potential broadband applications. OneCommunity collaborated with Cisco Systems to deploy a wireless network starting in September 2006

 

"

 

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

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.

 

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.

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

 

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.

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.

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.

 

"

Hudson Truck and Haul has been in business since the mid 1980s. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the heady times from 2002 to 2007, Hudson was a top rated accounts receivable mastermind of the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. Times were great for everyone, and the cash was flowing.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed to a crawl

 

. And worse yet, Hudson 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, Leon Duncan, CEO of Hudson felt a chill go down his spine whenever he would look at the weekly A/R reports. The numbers of clients who owed him back debt were growing.He had gone to his administrators and asked them what the problem had been. 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 Hudson money had jumped ship and decided to leave him holding the bag.

 

. They could not afford to pay him their debt, but they could afford a lesser service, maybe. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. They had just gone home.The situation looked dire to Leon Duncan. 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. After work he would confide in his wife, Lauren, and neither were unable to stop the constant worry over the lack of funds.""Lin, I have a really bad feeling,"" he would say with deep woe.""Well, what do you think it is?"" she would say.Leon 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 think I know what it could be,"" Leon 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 Lauren 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'.""Leon knew very well that Lauren 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 Leon walked into his office with a spring in his step, determined to call each and every client who owed money to Hudson Truck & Haul. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. Wasting money, wasting time - even with the best of intentions, Leon knew that he was in trouble.

 

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

 

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

 

""Of course Frances, please come in."" Leon relaxed back into his chair and looked up at Franceserley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Leon."" 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?"" Franceserley asked.""It does sound vaguely familiar. What is it?"" he said.She began, ""Well, it is really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Leon interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""it is actually very simple. We start by having a professional account manager review our figures and help us set up a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. 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,� Leon said. �And then what?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

The company will advise us the cost to purchase factoring for our company's accounts receivable. Once we arrive at a mutual agreement, the funding begins.�Leon was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""I do not know, Frances - it just sounds too good to be true"", Leon said quietly.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Leon: 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. They appear to be very flexible, Leon,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" he asked.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. Apparently they can figure this all out in two to four days.

 

""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" said Leon.He took a deep breath and looked at his secretary with something she recognized as hope.""Exactly�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Leon took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Hudson Truck & Haul were professional resources of the company, but they were also long-standing friends. Just because they were experiencing difficulties paying their own bills now, Leon was very concerned about losing these relationships. Leon 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 could create a disaster situation for both of them if he wasn't careful in how these debtors were handled. He did not want to lose business but he also did not want to lose any more money.""Let me go over this tonight Frances, and thankyou."" Frances nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Leon sat behind his desk and looked over the details Frances had not mentioned in their meeting. What other issues could freight factoring help Hudson 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, Hudson 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 Jason the good news,"" muttered Leon to himself.Jason is Leon's son-in-law, and he really admired the ideas behind Hudson, so much so that only two years before he had started his own transportation service business. Leon knew then what struggles Jason would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Hudson was hurting, a little guy like Jason was about to catch his death. But, maybe the answer for both of them was in freight factoring, and Leon was going to find out very soon.Some months later, having successfully gone through the entire process of the application, having experts study his credit history and statements and review his accounts receivable, Leon found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They took that time and refocused effort to offering competitive prices in new territories. Leon recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. He probably wouldn't be in business today had he not learned just in time about freight factoring.

 

"

 

"

Cleveland is the second-largest city in Ohio and the seat of Cuyahoga County. It is located in the northeast part of the state on Lake Erie. In the colonial era, the Cleveland area was known as the Connecticut Western Reserve, part of a land grant made to Connecticut by King Charles II in 1662. The city was founded in 1796 by Gen. Moses Cleaveland, who was the head surveyor of the Connecticut Land Company. This company had bought 3 million acres in what is now northern Ohio. A permanent settlement was founded in 1799, named after the general, and the spelling was shortened to Cleveland. The city was incorporated in 1836.Cleveland's industrial growth was stimulated by the opening of the Ohio and Erie canals in 1832 and, later, by the advent of the Civil War, with the increasing demand for machinery, railroad equipment, ships, and other items. Today, the port of Cleveland is the largest overseas general cargo port on Lake Erie. Greater Cleveland has long been famous as a durable goods manufacturing area. Following the national trend, however, Cleveland has been shifting to a more services-based economy. Greater Cleveland is a world corporate center for leading national and multinational companies in industries ranging from transportation, insurance, retailing, and utilities, to commercial banking and finance.The city's cultural attractions include the Cleveland Museum of Art and the Cleveland Orchestra, one of the country's most highly acclaimed symphony orchestras. Jacobs Field, a major league ballpark, and the Rock & Roll Hall of Fame also draw thousands of visitors to the cityCleveland's geographic location on the Cuyahoga River and Lake Erie has been key to its growth. The Ohio and Erie Canal coupled with rail links helped establish the city as an important business center. Steel and many other manufactured goods emerged as leading industries.The city diversified its economy in addition to its manufacturing sector.In 2007, Cleveland's commercial real estate market experienced rebound with a record pace of purchases, with a housing vacancy of 10%. Downtown Cleveland from the Superior Viaduct.The Cleveland Clinic is the city's largest private employer with a workforce of over 37,000 as of 2008. It carries the distinction as being among America's best hospitals with top ratings published in & World Report. Cleveland's healthcare sector includes University Hospitals of Cleveland, a renowned center for cancer treatment, and MetroHealth medical center. Cleveland is also noted in the fields of biotechnology and fuel cell research, led by Case Western Reserve University, the Cleveland Clinic, and University Hospitals of Cleveland. Cleveland is among the top recipients of investment for biotech start- and research. Case Western Reserve, the Clinic, and University Hospitals have recently announced plans to build a large biotechnology research center and incubator on the site of the former Mt. Sinai Medical Center, creating a research campus to stimulate biotech startup companies that can be spun off from research conducted in the city. NASA's Glenn Research Center is adjacent to Cleveland Hopkins International Airport.City leaders promoted growth of the technology sector in the first decade of the 21st century. Mayor l appointed a ""tech czar"" to recruit technology companies to the downtown office market, offering connections to the high-speed fiber networks that run underneath downtown streets in several ""high-tech offices"" focused on the Euclid Avenue area. Cleveland State University hired a technology transfer officer to cultivate technology transfers from CSU research to marketable ideas and companies in the Cleveland area, and appointed a vice president for economic development. Case Western Reserve University participated in technology initiatives such as the OneCommunity project, a high-speed fiber optic network linking the area's research centers intended to stimulate growth. In mid-2005, Cleveland was named an Intel ""Worldwide Digital Community"" along with Corpus Christi, Texas, Philadelphia, Pennsylvania, and Taipei. This added about $12 million for marketing to expand regional technology partnerships, created a city-wide Wi-Fi network, and developed a tech economy. In addition to this Intel initiative, in January 2006 a New York-based think tank, the Intelligent Community Forum, selected Cleveland as the sole American city among its seven finalists for the ""Intelligent Community of the Year"" award. The group announced that it nominated the city for its OneCommunity network with potential broadband applications. OneCommunity collaborated with Cisco Systems to deploy a wireless network starting in September 2006

 

"

 

More Trucking Factoring Companies Story Articles

"

The Future of a Trucking Company, and Factoring The phone was ringing on his desk, and Victor Perry just sat there letting it ring. 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. Perry Trucking Company was at a turning point of growth and Victor had to decide if signing with a factoring company was the right way forward.

 

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

 

To move Perry Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. His employees needed to be paid. They had families and household bills too. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. Every time he had to turn down a request, Perry Trucking looked weak in a very strong market.

 

His father would have told him to wait and to take his time adding on new technology. Victor chuckled, thinking about his father. His father had been against placing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. 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.

 

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

 

But was factoring the answer? If he was being honest, he did not really understand how it all worked. It sounded like a ninth grade math problem and he wondered how this would fit into 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. 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 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.

 

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

 

But it turned out to be quite easy. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. 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. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. He was more than happy with the figures he was offered in percentage terms on the freight bills. It was good money.

 

It was really refreshing dealing with the factoring people. They were more personable than those loan managers at the bank. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies 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 Victor because he and his father had created a very strong and loyal list of clientele over the years. So he knew they would understand when the factoring company contacted them for the invoices. His clients would not have any problems, nor would they think poorly of Perry 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, Victor 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. He suddenly realized that, with this new cash flow, he could actually expand Perry Trucking Company and who knows, move into Canada, which had always been his dream. His heart felt full knowing his sons wouldn�t have to worry about money because of the right decisions he had made for their trucking business.

 

"

 

 

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Trucking Factoring  Articles

"

�So It is not a loan?� asked Derek Rogers, reclining back into his chair and crossing his legs. The woman sitting across the desk from Derek smiled at him, shaking her head.�Not quite,� she said.Derek was the owner of a small trucking company which had fallen on some hard times recently. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Clyde. His company was called Richards Trucking, named after both of his grandfathers, Jimmy and Harvey. Both of these men had been very hardworking and had set a great example for Clyde.Six months ago disaster struck Clyde'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. The financial security of Clyde's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Derek had on hand.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.Derek 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. Derek knew she was employed by a Factoring company and that her name was Christy. 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�s not a loan, we purchase your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. 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.Derek agreed. It sounded perfect - perhaps too good?.Christy laughed. �I'm not sure that you believe me,� she said.�No, I do, I just think it sounds a bit too good to be true. I actually thought I might end up losing my business.�Christy nodded. �Yes, we get a lot of that. Listen, I�d hate to see you lose your company. You work hard, you�ve put everything you can into it. We all need help sometimes. That's why we do what we do.""In any case, thank you for coming to see me.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� Christy said with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Derek completed the form, with Christy offering advice as needed.

 

The profile filled Christy and her company in on Clyde�s company, and would help them determine if he was 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. As Derek completed his form, Christy listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Christy took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Clyde's hand. He also stood up, and they smiled at each other. They said their goodbyes and Derek walked her to the door, and then returned to his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He leaned back and closed his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. Talking to Christy 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.All those long, sleepless nights. The terrifying panic attacks that occurred regardless of where he was. Already he could feel all the stress start to drain away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was there, he was on the right path, and he was working to make things right.Derek 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 it wasn't what he really wanted to do. 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 Richards Trucking. So he did it. For the second time in his short life he created a company from the ground up. He had been successful.And then the trucks went down, and his success looked to be in flux. He was nearing fifty. He didn�t think he had it in him, to save this company. But giving up wasn't part of his personality either.

 

The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He didn�t know how to say quit.And now, because of factoring, he was sure he wouldn�t have to. Derek opened his eyes, sat forward, turned his computer on. He had things 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 Work with Factoring Firms.

 

As the manager of your own firm, you may likely be more than mindful already of the challenge in making certain that capital concerns do not become a dilemma down the line. After all, the toughest thing that can in all probability develop for your firm is to find yourself embroiled in a long and troublesome circumstance that leaves you forever trying to find the cash you really need on an ongoing manner.

 

For any business in this predicament, the concern can come for waiting for work to clear up and actually be compensated into your account. Bill of sales, checks, and the like can take a long time to actually to be taken care of which can easily leave you with short-term capital difficulties. Gratefully, there are options out there for industries to check out-- and one of these is factoring agencies.

 

Factoring agencies will, in substitution for your bill of sales, grant you with the cash money today to ensure you do not have to stress over the lingering duration that could make paying off the bills and getting toolsmore hard. With this kind of arrangement, invoice factoring can become tremendously helpful for numerous firms who ought to avoid a money ploy which they have found themselves in.

 

Simply because, relying on the size of the job, it can take up to 60 days for some business enterprises to get compensated then it is vital to take care of your own back and certainly not leave yourself resources short to pay the costs. After all, how many business enterprises have two months income just lying there to address all their overheads until they make money?

 

This is most notably correct of truck agencies. They generally deal with numbers of invoices which means a substantial quantity of collection time involves business owner themselves. Attempting to get paid off in time can end up being an extraordinary trouble and this is exactly why you make use of trucking factoring companies who are happy to help out truckers specifically.

 

As most of us realize, trucking is an remarkably huge field with numerous firms out there employing hundreds of vehicle drivers. Sadly, several of these drivers wind up in money troubles since they are still waiting for work from six weeks previously to actually pay them. When this is the case for a truck company, resorting to factoring companies for reinforcement might be the finest alternative left.

 

This implies that a truck organization can pay the salaries of the workers, keep all the vehicles loaded with fuel and continue to go up, grow and expand without always waiting for the money which is taking too prolonged to come in. Trucking Establishments operating without a factoring system applied are leaving themselves at considerable threat, as contenders cash out quickly and go on to grow.

 

There's absolutely not much to be stressed about when it comes to using a Factoring business-- they commonly are not like a financial institution or somebody who is going to leave you with a significant stack of financial debt to pay back. You give them legitimate invoices from work you have already finished , you are only speeding up the payment process.

 

In the Usa, where truck establishments prosper, factoring companies are not considered getting a loan in any capacity. This confidential arrangement then allows both groups to make money and enjoy a worry-free future-- it provides the factoring company a warranted asset of money to include in the list and it offers the trucking company the required money that they worked hard to gain.

 

The trucking establishment presents their statements to the factoring establishment. The trucking factoring company then receive the payments from the trucking company's customers. Factoring has beenaround for centuries and has been employed for many years by plenty of different sectors-- but none exceeding so than truckers. While you might miss out on a small part of the money, something like 1-3 % depending on who you team up with, it indicates that you are obtaining the money today and can actually begin putting the resources to function.

 

Once and for all, an IOU or an invoice is absolutely not going to pay for overheads, is it? For trucking firms when the income can be good one day and gone the next, it is up to the drivers to work sensibly and to make sure they are leaving themselves with a substantial quantity of time and money to get through the week up until they are compensated once more.

 

So the next instance your trucking enterprise is having some short-term cash flow concerns and you are shelling out too much time chasing inactive paying clients, why not start considering making use of a factoring companies as a method to get your finances and give yourself a more worry-free future in the eyes of your trucking staff and your bank dividend?

 

 

 

 

 

 

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Traditional Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. While these loans are handy they are not available to every business. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. 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 give loans, and the money you get from the Trucking Factoring company does not put you in debt. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but 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 money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once you have set up Trucking Factoring account it continues as long as you wish it too and the amount of money available to you even can grow as your business grows, giving you the ready cash you need to meet your own obligations.

 

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. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. No Collateral Required. Another 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 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. Receive Your Money Faster. Using a Trucking Factoring company means that you'll get the finance quicker. 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.Interest is Paid 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 not only are you relieved of those monthly loan payments, but you also do not have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a bank. The most important benefits is that once you sell your accounts receivable to the factory company, you do not have to take time away from running your business to collect the money owed from reluctant to pay customers. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

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

 

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Factoring Companies by City

New York City

Los Angeles


Chicago


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Philadelphia


Phoenix


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San Diego


Dallas


San Jose

Austin


Jacksonville


Indianapolis


San Francisco


Columbus


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Charlotte


Detroit


El Paso


Memphis

 

 

Boston


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Denver


Washington DC


Nashville-Davidson


Baltimore


Louisville/Jefferson


Portland


Oklahoma City


Milwaukee


Las Vegas


Albuquerque


Tucson


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Long Beach


Kansas City


Mesa


Virginia Beach


Atlanta

 

Colorado Springs


Raleigh


Omaha


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Oakland


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Minneapolis


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Wichita


Arlington

 

New Orleans

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Tampa

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Corpus Christi

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Lexington Fayette

Anchorage

Stockton

Cincinnati

St. Paul

Toledo


Newark

Greensboro

Plano

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Lincoln

Buffalo

Fort Wayne

Jersey

Chula Vista

Orlando

St. Petersburg

Norfolk

Chandler

Laredo

Madison

Durham

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Garland

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Irving

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North Las Vegas

Fremont

Gilbert town

San Bernardino

Boise

Birmingham

Rochester

Richmond

Spokane

Des Moines