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Profits That Lie Hidden In Your Company - Our Receivable Loan Company Can Give
Your Freight Company The Money Your Company Needs

smallbusinessfactoring.org

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transportation factoring trucking

Medium-Size trucking businesses, especially those who have actually not been in existence for very long, will typically find it tough to secure a loan. Banks are often reluctant to lend cash to companies that do not have a great deal of income and assets. They also want proof of the practicality of a business and therefore need that the majority of operations, particularly little ones, been around for a specific amount of time prior to they are ready to hand over any cash. Due to the fact that of this, a medium-size company typically has few money producing choices when requires arise. One alternative available, however often neglected, is factoring. This is an outstanding way for a small company to acquire cash.

 

 

 

 

 

 

 

Advice to Companies Whose Cash Flow is Troubling - Choose A Freight�Brokerage Factoring Company  Instead Of A Typical Bank Financing

How to Increase Money Flow Without Loaning -Cash Money flow is one of the main reasons businesses fail.

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

Money flow does not have to be an issue any more. Do not be deceived -- banks are not the only locations you can get financing. Other options are available and you do not have to borrow money. What is trucking factoring ? One solution is called truck factoring. Truck Factoring is the process of offering invoices to a financier rather than waiting to collect the cash from the client. Oh, the Irony- Truck factoring has an ironic difference: It is the monetary foundation of numerous of America's most successful companies. Why is this ironic ? Since receivable loan funding is not instructed in business colleges, is seldom mentioned in business strategies and is fairly unidentified to bulk of most of American company individuals.

Yet it is a monetary process that frees billions of dollars every year, allowing thousands of companies to grow and succeed. Receivable Funding has actually been around for thousands of years. Truck Factoring Businesses are investors who pay money for the right to get the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your customer has agreed pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business deals, a large portion 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 meaning of the word, these large customer finance companies are truly just large Invoice Factoring Businesses of customer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The shop makes money practically instantly, although you do not make payment up until you are prepared.

For this service, the charge card company charges Sears a fee (typical common normal charges vary from 2 to 4 percent of the sale). The Benefits Receivable Loan Funding can provide many advantages to cash-hungry business. Instead of waiting 30, 60, 90 days or longer for payment on an item that has 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 satisfied with instant  money.

Account Receivable Financing offers the ways for a manufacturer to replenish stock and make more products to sell: There is no longer a need to wait for earlier sales to be paid. Receivable Loan Financing is not simply a money management device for manufacturers: Almost any type business can benefit from Truck Factoring. Generally, a business that extends credit will have 10 to 20 percent of its annual sales bound in invoices at any given time. Think for a moment about exactly how much is bound in 60 days' worth of invoices: You can not pay the power expense or this week s payroll with a client s invoice, however you can sell that invoice for the money to satisfy those obligations. Using trucking factoring companies is a fast and simple process. The factor purchases the invoice at a discount, typically a few portion points less than the stated value of the invoice.

 

 

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nashville-davidson-factoring-companies

 

The U.s. Transportation Association
mentions that there are about
205,000 employees with truck
businesses and
300,000 private service providers trucking
companies licensed to
run in the U.S. that carried,
according to their most current listings of millions of
items, supplies and
fundamental products .
There are a number of common
carriers either going solo or in
groups on our country
roads transferring these
vital items to our
stores, factories and harbors.

And truck factoring
businesses service
countless of them and offer their
factoring facilities
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

 

"

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

 

"

 

Watch Our Factoring YouTube Videos For More Information

 

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

If you're like most drivers, you're looking for a better company in trucking that might be offering the best jobs in terms of pay, freight, and hometime ' not to mention benefits or a sign on bonus. We've got all of our clients listed based on the states where they're hiring, so you can quickly find the best job in your home state. You'll see the very best nationwide trucking companies that have positions available.

 

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

 

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

 

Life of a Truck driver, like many other professionals can be very challenging, rewarding, and frustrating at the same time. �The com� is an information site for many of the Truckers needs. It is designed to encompass the needs of the Trucker, both on the Road and at Home.

List of Trucking Companies for Owner/Operators and Company Drivers

 

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

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

 

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

 

 

"

Daniels 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 boom times from 2002 to 2007 Daniels Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. Times were great for everyone, and the cash was flowing.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed to a crawl

 

. Worse still, it was noticed by Daniels in early 2008 that even though most of their loyal customers were on time with their payments, there were a few late bloomers who were starting to spread the disease. And as spring turmed to summer and summer into the early days of fall, Miguel Johnston, CEO of Daniels felt a chill go down his spine whenever he would look at the weekly A/R reports. There was a growing list of clients who now owed them back debt.He had already been to the administrators to ask what the actual problem was. Were they doing something wrong or different when it came to reaching out to delinquent accounts? When checking his bookkeeper's records this was definitely not the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Daniels 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. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Daniels hadn't gone elsewhere. The had just gone!.The situation looked dire to Miguel Johnston. Miguel was very concerned, because there were constant overheads, goods to ship, employees to pay, and trucks which needed to be maintained, but there just wasn't the money coming back into the business. In the evenings he would discuss his concerns with his wife, Danielle, and still find no relief from the worry and frustration.

 

""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would say.Miguel 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 on the road, delivering good to all his loyal customers. 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,"" said Miguel. ""I've relied too long on the profits I receive from invoices alone. I've let too many of our customers go too long without paying on their bills."" All Danielle 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'.""Danielle was trying so hard to support her husband in these worrying times, while Miguel was weighed down with the worry of how he was going to handle this situation he found himself in.The following day Miguel walked into his office with a spring in his step, determined to call each and every client who owed money to Daniels 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. A waste of time - a waste of money - he had the best intentions, but all the while Miguel was realising just how much trouble he was in.After a half day of contacting debtors in vain - they dodged his calls or promised to call back at worst or made minimal interest-only payments at best - he was about to throw in the towel when his secretary Suzanneerley knocked at his door.

 

""Can I have a word with you Miguel?"" she queried, standing in the doorway.

 

""Of course Suzanne, please come in."" Miguel leaned back in his chair and looked expectantly at Suzanneerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Miguel."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard of factoring?"" she asked.""It 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.""Miguel interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""In a nutshell, it is pretty easy. We can have an expert account manager review our numbers and help us complete a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It�s a broad view.""Miguel 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.�Miguel was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""I do not know, Suzanne - it just sounds too good to be true"", Miguel 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. And they're flexible Miguel,"" 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.

 

""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" said Miguel.Miguel took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Miguel thought about this and agreed with Suzanneerley. The customers who were in debt to Daniels Truck & Haul were professional resources of the company, but they were also long-standing friends. They did not want to throw away these relationships because they were having trouble paying their bills now. Miguel knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. Of course he did not want to lose any more money, but he did not want to lose business either.""Let me go over this tonight Suzanne, and thankyou."" Suzanne stood up and left Miguel's office, with the nice feeling of knowing that she may just have solved a very serious problem.Miguel sat behind his desk and looked over the details Suzanne had not mentioned in their meeting. What other issues could freight factoring help Daniels 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. Miguel was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Miguel was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""I must tell Gerald the good news,"" muttered Miguel to himself.Miguel's son-in-law, Gerald, loved the idea behind Daniels 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. At that time Miguel knew the struggles Gerald would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Daniels was hurting, a little guy like Gerald was about to catch his death. Perhaps the antidote to these problems was in freight factoring, and they were about to find out.Some months later, having successfully gone through the entire process of the application, having experts study his credit history and statements and review his accounts receivable, Miguel 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. Miguel recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. If Miguel hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

"

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

 

"

 

More Trucking Factoring Companies Story Articles

"

Factoring in the Future of a Trucking Business: A Story Albert Rogers let the phone ring on his desk. His morning coffee cooled and his cigarette smoked away in the tray: Albert is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Rogers Trucking Company was at a turning point of growth and Albert had to decide if signing with a factoring company was the right way forward.

 

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

 

There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. He had employees to pay. They had families and household bills too. 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, Rogers 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. Albert allowed himself a good hard chuckle. He remembered when his father was totally against installing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). He knew his father's days were long gone and new technology was very important for the business, like having Qualcomm to reduce communication time for bills of lading.

 

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

 

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

 

Now it was time for Albert 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?

 

However, it all turned out to be very simple. 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 didn�t mind signing an exclusive contract. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. 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.

 

For Albert 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. Factoring was based on the credit of his customers and on their reliability which worked well for Albert because he and his father had built up good strong relationships over decades with their list of clients. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients wouldn�t think poorly of Rogers Trucking and the factoring companies appeared capable of handling the accounts receivable in the same polite manner that his father had used over the years.

 

Albert stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. 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 Rogers Trucking Company and who knows, move into Canada, which had always been his dream. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

"

 

 

View Our Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So, this is not a loan?� asked Dan Sims, reclining back into his chair and crossing his legs. The woman sitting across the desk from Dan smiled at him, shaking her head.�Not quite,� she stated.Dan 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 Julian. He named his business Rodriquez Trucking, named after Victor and Clifton, his two grandfathers. Both of these men had been very hardworking and had set a great example for Julian.Six months ago disaster struck Julian'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. Dan depended on his full fleet, and missing two trucks was devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.A big problem a lot of trucking companies came across was how bills were paid in the industry. Waiting a month or longer for bills to be paid was quite normal. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Dan wasn�t a bad owner, and he hadn�t messed up. 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. Dan knew she was employed by a Factoring company and that her name was Anita. 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.Anita explained. �It�s not a loan, we purchase your accounts receivable. we are not giving you finance to be repaid later: we are purchasing something from you, and when you can you can buy it back. This is a win-win situation: we are protected from a total loss, and you're protected from the ridiculous fees and charges you'd have to pay if you borrowed from a bank.Dan agreed. It sounded good to him, almost too good.Anita laughed. �You look like you don�t believe me,� she chuckled.�Oh no, I do: it just sounds too good to be true. I thought I was going to lose my company.�Anita nodded. �We get that a lot. There's no way we want to see you lose your business. You work hard, you�ve put everything you can into it. Sometimes you need help. That�s what we�re here for.""In any case, thank you for coming to see me.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� Anita said with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Dan completed the form, with Anita offering advice as needed.

 

The profile filled Anita and her company in on Julian�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 Dan filled out his form, Anita was pretty sure he was a perfect candidate for factoring.Anita took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Julian�s hand. He stood before they shook as well, and then smiled. They said their goodbyes and Dan walked her to the door, and then returned to his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He shut his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. But now, after speaking to Anita and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.All those long, sleepless nights. The terrifying panic attacks that occurred regardless of where he was. He could feel it all fading away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.Dan couldn�t help but think back to when he had first started the business. At twenty-two and straight out of school he had opened a restaurant. It had been really successful. Offering home cooking in his own hometown, his business had really prospered.But he had gotten bored. He wasn't passionate about the food industry. He thought long and hard, and then he decided to sell the restaurant. He took half a year off, and in that time he thought to start Rodriquez Trucking. And that's exactly what he did. For the second time in his short life he created a company from the ground up. The business had been an instant success.And then the trucks went down, and his success looked to be in flux. He was about to turn fifty. He didn�t think he had it in him, to save this company. But he couldn�t give up. Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He did not want to quit - both for himself and for his staff members.And now, because of factoring, he was sure he wouldn�t have to. Julian's eyes opened, he sat forward in his chair and turned on his computer. He had lots to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

The key reasons why Truck Companies Employ Factoring Firms.

 

As the manager of your own company, you may perhaps be more than aware already of the challenge in making certain that capital issues do not become a problem down the line. Anyway, the most unfortunate thing that can potentially transpire for your establishment is to find yourself swept up in a long and problematic circumstance that leaves you forever trying to find the funds you really need on an on-going basis.

 

For any business enterprise in this circumstance, the challenge can come for waiting for work to clear up and actually be settled into your balance. Bill of sales, checks, and the like can take a long time to actually to beprocessed which can leave you with temporary available resources issues. Gratefully, there are options out there for companies to explore-- and among these is factoring companies.

 

Factoring agencies will, in exchange for your invoices, grant you with the cash money now so that you do not need to fret about the lingering period which could make paying the bills and getting toolsmore challenging. With this type of setup, invoice factoring can end up being extraordinarily valuable for lots of firms who need to avoid a money ploy which they have found themselves in.

 

Due to the fact that, relying on the size of the work, it can take up to 60 days for many firms to get compensated then it is significant to cover your own back and certainly not leave yourself funds short to pay off the costs. After all, how many businesses possess two months earnings just occupying there to pay for all their overheads till they make money?

 

This is specifically correct of truck firms. They tend to deal with bunches of accounts which means a substantial volume of collection time demands company owner themselves. Attempting to get paid promptly can become an unbelievable headache and this is the reason why you utilize truck factoring agencies who are thrilled to help out truckers specifically.

 

As all of us determine, trucking is an remarkably large business with countless firms out there handling hundreds of operators. However, plenty of these drivers land up in cash predicaments due to the fact that they are still expecting work from six weeks ago to actually pay them. When this is the condition for a trucking firm, turning to factoring providers for reinforcement maybe the finest alternative left.

 

This indicates that a trucking company can compensate the salaries of the personnel, keep all the vehicles topped off with fuel and continue to go up, rise and expand without always waiting for the income which is taking too prolonged to come in. Trucking Establishments functioning without a factoring system used are leaving themselves at substantial risk, as competitors cash out promptly and carry on to broaden.

 

There's absolutely not a thing to be stressed about when it comes to employing a Factoring company-- they are not like a financial institution or someone who is going to leave you with a significant mound of liability to pay back. You give them legitimate invoices from job you have already accomplished , you are only just accelerating the payment system.

 

In the United States, where trucking companies develop, factoring enterprises are not considered borrowing in any capacity. This private agreement then enables both parties to make money and take joy in a worry-free future-- it provides the factoring business a guaranteed asset of revenue to include in the list and it gives the trucking company the required finances that they sweated to obtain.

 

The trucking establishment provides their invoices to the factoring establishment. The trucking factoring firm then acquire the installment payments from the trucking company's customers. Factoring has beenaround for hundreds of years and has been used for several years by lots of varying business-- but none exceeding so than truckers. While you could lose out on a small part of the money, something like 1-3 % depending on who you partner with, it implies that you are getting the finances today and can actually start off putting the money to work.

 

Anyway, an IOU or an invoice is not going to pay for spendings, is it? For trucking agencies when the money can be very good one day and gone the next, it is up to the drivers to work smartly and to make sure they are leaving themselves with a significant amount of time and finance to get through the week till they are compensated again.

 

So the next moment your trucking business is bearing some temporary capital concerns and you are putting in a lot of time chasing sluggish paying clients, why not start off thinking about utilizing a factoring companies as a way to get your money and give yourself a more pleasant future in the eyes of your trucking workers 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. These loans can be a life-saver, but they're not always 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. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies do not offer loans, and you do not go into debt when you get money from a Trucking Factoring company. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

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

 

2. There's no collateral required. Another 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 makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

3. You'll receive the money faster. With a Trucking Factoring company you can actually get the money you need faster. 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. 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, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a bank. The 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.A Trucking Factoring company is not the only method of gaining access to finance for the running and growing of your business, however it does offer a financing option well worth considering.

 

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Factoring Companies by City

New York City

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Boston


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Portland


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Colorado Springs


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Jersey

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