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I gave away my receivables - and made more money too - Our Truck Factoring Companies Can Provide
Your Trucking Company The Money You Want

factorinvoices.org

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Factoring invoices is advantageous for a number of factors. It permits a trucking business to raise money without acquiring new financial obligation. While financial obligation is often needed, the majority of trucking companies would prefer to raise money without obtaining money. Debt is high-risk, and when it cannot be paid back, properties can be repossessed. If the financial obligation is big enough, it may even compel a trucking firms out of business.

 

 

 

 

 

 

 

The Secret to Being Wealthy - Select A Freight�Invoice Factoring Company  Instead Of A Regular Bank Funding

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

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

Cash flow does not have to be an issue any ever more. Do not be deceived -- banks are not the only places you can get funding. Other options are offered and you do not have to borrow. What is trucking factoring ? One solution is called truck factoring. Truck Factoring is the process of selling invoices to a financier rather than waiting to collect the money from the customer. Oh, the Irony- Truck factoring has a paradoxical distinction: It is the financial backbone of numerous of America's most effective companies. Why is this ironic ? Since accounts receivable factoring is not taught in business colleges, is rarely mentioned in company strategies and is relatively unknown to the majority of most of American company people.

Yet it is a monetary process that releases up billions of dollars every year, allowing thousands of businesses to grow and prosper. Staffing Factoring has actually been around for thousands of years. Receivable Financing Companies are investors 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 to pay in the near future. Factoring Principals--Although factoring deals solely with business-to-business deals, a large percentage of the retail business uses a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail transactions. Using the purest definition of the word, these big consumer finance companies are truly simply large Receivable Funding Businesses of customer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The store gets paid practically instantly, although you do not make payment until you are ready.

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

Invoice Factoring provides the means for a manufacturer to renew inventory and make even more items to offer: There is no longer a need to wait for earlier sales to be paid. Receivable Loan Financing is not simply a cash management tool for producers: Almost any type company can take advantage of Receivable Loan Funding. Generally, a company that extends credit will have 10 to 20 percent of its yearly sales bound in invoices at any given time. Think for a moment about exactly how much is tied up in 60 days' worth of invoices: You can not pay the power bill or today s payroll with a client s invoice, however you can offer that invoice for the cash to satisfy those responsibilities. Using trucking factoring companies is a fast and easy process. The factor purchases the invoice at a price cut, typically a couple of percentage points less than the face value of the invoice.

 

 

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The United states Trucking Association
mentions that there around
195,000 truck drivers with freight trucking
companies and
276,000 private service providers trucking
firms certified to
operate in America that transferred,
according to their newest searchings for billions of
items, supplies and
basic products .
There are several common
carriers either going solo or in
teams on our country
highways transporting these
crucial products to our
stores, manufacturing facilities and shipping ports.

Also freight factoring
companies help
several of them and offer their
receivable loan services
nationwidecounting
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

 

"

St. Petersburg is a city in Pinellas County, Florida, United States. As of the 2013 census estimate, the population was 249,688, making St. Petersburg the 5th most populous city in the state of Florida and the largest city in Florida that is not a county seat (the city of Clearwater is the county seat). St. Petersburg is the second largest city in the Tampa Bay Area, composed of roughly 2.8 million residents, making it the second largest Metropolitan Statistical Area in the state. It is also a popular vacation destination for both American and foreign tourists.The city is often referred to by locals as St. Pete. Neighboring St. Pete Beach formally shortened its name in 1994 after a vote by its residents. St. Petersburg is governed by a mayor and city council.The city is located on a peninsula between Tampa Bay and the Gulf of Mexico. It is connected to mainland Florida to the north; with the city of Tampa to the east by causeways and bridges across Tampa Bay; and to Bradenton in the south by the Sunshine Skyway Bridge (Interstate 275), which traverses the mouth of the bay. It is also served by Interstates 175 and 375, which branch off I-275 into the southern and northern areas of downtown respectively. The Gandy Bridge, conceived by George Gandy and opened in 1924, was the first causeway to be built across Tampa Bay, connecting St. Petersburg and Tampa cities without a circuitous 43-mile (69 km) trip around the bay through Oldsmar.With an average of some 361 days of sunshine each year, and a Guinness World Record for logging the most consecutive days of sunshine (768 days), it is nicknamed ""The Sunshine City"". Due to its good weather and low cost of living, the city has long been a popular retirement destination, although in recent years the population has moved in a much more youthful direction. American Style magazine ranked St. Petersburg its top mid-size city in 2011, citing its ""vibrant"" arts scene

 

"

 

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

EveryJob is a free service dedicated to helping professional truck drivers find new truck driving jobs with the best trucking companies hiring today!

Locate truck driving jobs by city, state, position andenefits offered. Search current driving jobs and fill out the EZ truck driver application customized for cdl trucking jobs

 

EveryJob is a free service dedicated to helping professional truck drivers find new truck driving jobs with the best trucking companies hiring today!

Locate truck driving jobs by city, state, position andenefits offered. Search current driving jobs and fill out the EZ truck driver application customized for cdl trucking jobs

 

EveryJob is a free service dedicated to helping professional truck drivers find new truck driving jobs with the best trucking companies hiring today!

Locate truck driving jobs by city, state, position andenefits offered. Search current driving jobs and fill out the EZ truck driver application customized for cdl trucking jobs

 

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.

EveryJob is a free service dedicated to helping professional truck drivers find new truck driving jobs with the best trucking companies hiring today!

Locate truck driving jobs by city, state, position andenefits offered. Search current driving jobs and fill out the EZ truck driver application customized for cdl trucking jobs

 

The largest trucking companies in the U.S. set a revenue record in 2013, but revenuegrowth slowed for the second year in a row.

The combined revenue of the 50 largest motor carriers rose to $106.6 billion last year, according to The Top 50 Trucking Companies list, based on data prepared by Consulting Group in Pittsburgh.

 

 

"

Holmes Truck & Haul have been operating their 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, Holmes 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.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 Holmes 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 Holmes, Francisco Chavez, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The number of clients who were late in their payments was continuing to grow.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? By his bookkeepers records, this wasn't 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 Holmes 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. The had just gone!.To Francisco Chavez the situation looked desperate. 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. In the evenings he would discuss his concerns with his wife, Lucille, and still find no relief from the worry and frustration.

 

""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""What could you do differently?"" she would ask.Francisco would stare off into the distance, and then slowly close his eyes. He could see the fleet of trucks he had purchased over the years. He could see them traveling, bringing goods to all of his clients. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What could cause this ultimate death spiral of business?""I think I know what it could be,"" said Francisco. ""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 Lucille 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'.""Francisco knew very well that Lucille 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 Francisco strolled into his office and was determined to sit down and make every phone call to every client who had owed Holmes money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Francisco knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. A waste of time - a waste of money - he had the best intentions, but all the while Francisco was realising just how much trouble he was in.Poor Francisco 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 Francisco?"" she queried, standing in the doorway.

 

""Sure thing Evelyn, come on in."" Francisco leaned back in his chair and looked expectantly at Evelynerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Francisco."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard the word factoring?"" she asked.""It sounds 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.""Francisco interrupted ""Immediately?"".""Immediately, yes"" she added, ""it is actually very simple. We start by having a professional account manager review our figures and help us set up a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It provides a very broad view.""Francisco replied cautiously ""I see - and what happens then?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. There�s a lot of flexibility depending on the business volume and credit histories. The company will advise us the cost to purchase factoring for our company's accounts receivable. We come to an agreement and the funding starts pouring out.�Francisco was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""I do not know, Evelyn - it just sounds too good to be true"", Francisco said quietly.""Yes, I know; that's exactly what I thought at the beginning. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. They appear to be very flexible, Francisco,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" asked Francisco.""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 Francisco.He took a deep breath and looked at his secretary with something she recognized as hope.""Exactly�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Francisco took a moment to think about this solution, and agreed with his secretary. The clients who owed them money were long standing friends and professional resources of Holmes. Francisco wasn't prepared to lose these relationships just because they were having financial issues at the moment. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. Of course he did not want to lose any more money, but he did not want to lose business either.""Well, let me think about this tonight Evelyn, thank you."" Evelyn stood up and left Francisco's office, with the nice feeling of knowing that she may just have solved a very serious problem.Francisco sat behind his desk and looked over the details Evelyn had not mentioned in their meeting. What other issues could freight factoring help Holmes 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, Holmes 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 Lawrence the good news,"" muttered Francisco to himself.Francisco's son-in-law, Lawrence, loved the idea behind Holmes and highly respected his father-in-law for having such great business sense, that two years ago he got his capital together and started his own transportation company. Francisco knew then what struggles Lawrence would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Holmes was hurting, a little guy like Lawrence was about to catch his death. But, maybe the answer for both of them was in freight factoring, and Francisco was going to find out very soon.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Francisco 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. Francisco looked back on the dismal months of life before freight factoring and almost shuddered at the thought. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

"

St. Petersburg is a city in Pinellas County, Florida, United States. As of the 2013 census estimate, the population was 249,688, making St. Petersburg the 5th most populous city in the state of Florida and the largest city in Florida that is not a county seat (the city of Clearwater is the county seat). St. Petersburg is the second largest city in the Tampa Bay Area, composed of roughly 2.8 million residents, making it the second largest Metropolitan Statistical Area in the state. It is also a popular vacation destination for both American and foreign tourists.The city is often referred to by locals as St. Pete. Neighboring St. Pete Beach formally shortened its name in 1994 after a vote by its residents. St. Petersburg is governed by a mayor and city council.The city is located on a peninsula between Tampa Bay and the Gulf of Mexico. It is connected to mainland Florida to the north; with the city of Tampa to the east by causeways and bridges across Tampa Bay; and to Bradenton in the south by the Sunshine Skyway Bridge (Interstate 275), which traverses the mouth of the bay. It is also served by Interstates 175 and 375, which branch off I-275 into the southern and northern areas of downtown respectively. The Gandy Bridge, conceived by George Gandy and opened in 1924, was the first causeway to be built across Tampa Bay, connecting St. Petersburg and Tampa cities without a circuitous 43-mile (69 km) trip around the bay through Oldsmar.With an average of some 361 days of sunshine each year, and a Guinness World Record for logging the most consecutive days of sunshine (768 days), it is nicknamed ""The Sunshine City"". Due to its good weather and low cost of living, the city has long been a popular retirement destination, although in recent years the population has moved in a much more youthful direction. American Style magazine ranked St. Petersburg its top mid-size city in 2011, citing its ""vibrant"" arts scene

 

"

 

More Trucking Factoring Companies Story Articles

The Future of a Trucking Company, and Factoring The phone was ringing on his desk, and Justin Cook just sat there letting it ring. His morning coffee cooled and his cigarette smoked away in the tray: Justin is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Cook 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.

 

Justin�s father had started as an owner-operator and had grown Cook Trucking Company into a fifteen trailer fleet over forty years. There had been some hard times when it seemed everything was going to go under and even Justin�s mother strapped herself into a cab 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 Justin's hands and he needed to ensure that this business would be left in great shape for his sons.

 

To move Cook Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. He had employees to pay. They all have families and the usual household bills. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. Every time he had to turn down a request, Cook 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. Justin chuckled, thinking about his father. His father had been against placing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. 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.

 

Justin believed a successful man is always thinking of his next step. How would he take Cook Trucking to the next level? 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. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

But was factoring the answer? If he was being honest, he did not really understand how it all worked. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Now it was time for Justin 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. 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. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He didn�t mind signing an exclusive contract. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It was good money.

 

For Justin it was quite a relief to be dealing with the factoring company. They were extremely helpful and more personable than the bank staff. 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 Justin 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 Cook 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, Justin stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. With the capabilities of this new cash flow, Justin could actually expand Cook Trucking Company further across the country and perhaps even go international into Canada. His heart felt full knowing his sons wouldn�t have to worry about money because of the right decisions he had made for their trucking business.

 

 

 

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Trucking Factoring  Articles

"

�So It is not a loan?� Alexander Bell asked as he leaned back in his chair, crossing his legs. The woman who sat across the desk smiled and shook her head.�No, not exactly,� she stated.Alexander was the owner of a small trucking company which had fallen on some hard times recently. Trucking could be a profitable business, and for a little under a decade, it had been for Armando. His company was called May Trucking, named after both of his grandfathers, Alan and Stephen. They had both been hardworking men, and had done a lot to make Alexander the same.Six months ago disaster struck Armando'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. Alexander depended on his full fleet, and missing two trucks was devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

You could go a month or more before bills were completely paid off. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Alexander was an excellent business man, and he certainly hadn't done anything wrong. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.That�s where the woman across the desk came in. Alexander knew she was employed by a Factoring company and that her name was Alicia. Alexander had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.Alicia 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.Alexander agreed. It sounded good to him, almost too good.The woman laughed. �I'm not sure that you believe me,� she said.�Oh no, I do: it just sounds too good to be true. I actually thought I might end up losing my business.�Alicia nodded. �Yes, we get a lot of that. Listen, I�d hate to see you lose your company. We know how hard you work, and that you've invested everything in your business. We all need help sometimes. That�s what we�re here for.""Well, I'm very grateful that you came to see me today.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� said Alicia with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Alexander completed the form, with Alicia offering advice as needed.

 

The profile filled Alicia and her company in on Armando�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. Listening as Alexander filled out his form, Alicia was pretty sure he was a perfect candidate for factoring.Alicia took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Armando�s hand. He stood before they shook as well, and then smiled. They said their goodbyes and Alexander 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 felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. Talking to Alicia 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 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 there, he was on the right path, and he was working to make things right.His mind wandered back to the very beginning, when he first started his business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been really successful. Offering home cooking in his own hometown, his business had really prospered.But 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 May Trucking. So he did it. For the second time in his short life he created a company from the ground up. The business had been an instant success.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was 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, because of factoring, he was sure he wouldn�t have to. Alexander opened his eyes, sat forward, turned his computer on. He had lots to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

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More Trucking Factoring Company Story Articles

Reasons why Truck Firms Utilize Factoring Firms.

 

As the manager of your own company, you may likely be much more than wary already of the hardship in making certain that cash flow matters do not become a dilemma down the line. After all, the most disappointing thing that can in all probability occur for your firm is to find yourself involved in a long and difficult predicament that leaves you forever looking for the resources you are in need of on an continuous manner.

 

For virtually any company in this predicament, the dilemma can come for waiting for work to clear up and actually be paid out into your bank account. Statements, checks, and the like could take some time to actually to be taken care of which can easily leave you with momentary cash flow troubles. Luckily, there are options out there for industries to consider-- and just one of these is factoring agencies.

 

Factoring agencies will, in trade for your invoices, give you with the finances right now to make sure that you do not have to worry about the delaying time span that could make paying out the bills and obtaining materialsmore challenging. With this form of setup, invoice factoring can become incredibly practical for lots of firms who need to get out of a money pitfall which they have found themselves in.

 

For the reason that, depending on the volume of the work, it can take up to 60 days for several enterprises to get paid out then it is crucial to blanket your own back and certainly not leave yourself money short to pay off the bills. After all, how many companies have two months revenue just lying there to cover all their bills till they make money?

 

This is specifically correct of trucking companies. They often tend to take care of tons of invoices which means a significant quantity of collection period concerns company owner themselves. Trying to get paid in time can become an amazing difficulty and this is why you use trucking factoring firms who are thrilled to help out truckers specifically.

 

As all of us understand, trucking is an exceptionally big industry with a lot of firms out there handling hundreds of drivers. Unfortunately, plenty of these drivers land up in finances difficulties simply because they are still waiting on work from six weeks in the past to actually pay them. When this is the situation for a truck organization, turning to factoring providers for aid may be the finest choice left.

 

This indicates that a trucking business can compensate the paychecks of the workers, keep all the vehicles refilled with fuel and continue to surmount, grow and expand without constantly waiting for the funds which is taking too prolonged to come in. Trucking Businesses working without a factoring program applied are leaving themselves at critical threat, as rivals cash out promptly and proceed to broaden.

 

There's genuinely very little to be troubled about when it comes to using a Factoring firm-- they are not like a banking company or a person who is going to leave you with a large mass of financial debt to repay. You give them genuine invoices from work you have already completed , you are merely facilitating the repayment process.

 

In the Usa, where truck enterprises do well, factoring companies are not considered taking on loan in any capacity. This confidential deal then enables both parties to make money and delight in a comfortable future-- it gives the factoring provider a warranted asset of money to add to the list and it offers the trucking company the needed cash that they sweated to acquire.

 

The trucking business provides their invoices to the factoring company. The trucking factoring firm then collect the payment amounts from the trucking company's clients. Factoring has been all around for hundreds of years and has been utilized for decades by lots of different fields-- but none much more so than truckers. While you may miss out on a small part of the money, something like 1-3 % depending on who you deal with, it implies that you are getting the money today and can actually start putting the cash to operate.

 

Once and for all, an IOU or an invoice is not going to cover bills, is it? For trucking agencies when the funds can be very good one day and gone the next, it is up to the drivers to work smartly and to make certain they are leaving themselves with a considerable amount of time and money to get through the week up until they are paid once again.

 

So the next time your trucking establishment is enduring some short-term cash flow troubles and you are investing an excessive amount of time chasing slow paying clients, why not start off looking into making use of a factoring businesses as a means to get your cash and give yourself a more at ease future in the eyes of your trucking staff and your bank balance?

 

 

 

 

 

 

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Traditional Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. 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. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not 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 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?

 

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

 

1. You will not Incur Debt. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

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

 

3. You'll receive the money faster. With a Trucking Factoring company you can actually get the money you need faster. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.Interest is Paid Up Front. With a bank loan interest continues to build, and this has to be paid the whole time you have a business loan; however with a Trucking Factoring company there is no interest - they take it right off the top by deducting it from the total amount of receivable accounts. So you do not have to worry about monthly loan repayments, and you do not have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. 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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