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For The Business Who Wants To Look Better - Our Receivable Financing Company Can Give
Your Trucking Company The Cash You Want

businessfinanceresource.org

factoring for trucking

transportation invoice factoring

factoring trucking receivables

trucking and factoring

Using a Truck Factoring Company is advantageous for several reasons. It permits a trucking company to raise money without getting brand-new debt. While debt is occasionally required, a lot of truck companies would like to raise cash without obtaining money. Debt is high-risk, and when it can not be repaid, assets can be repossessed. If the debt is huge enough, it may even force a freight brokerage out of business.

 

 

 

 

 

 

 

Get Rid of Those Receivables! - Pick A Freight�Brokerage Factoring Company  Instead Of A Regular Bank Financing

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

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

Cash flow does not have to be a problem any ever more. Do not be fooled -- banks are not the only places you can get funding. Other solutions are available and you do not have to borrow money. Exactly what is truck factoring ? One option is called truck factoring. Trucking Factoring is the process of offering accounts receivable to a financier instead of waiting to collect the cash from the customer. Oh, the Irony- Truck factoring has a paradoxical difference: It is the monetary foundation of many of America's most effective businesses. Why is this ironic ? Since factoring is not instructed in business colleges, is rarely discussed in company plans and is relatively unidentified to the majority of most of American company people.

Yet it is a monetary process that releases up billions of dollars every year, allowing countless companies to grow and prosper. Receivable Financing has actually been around for thousands of years. Factoring Companies are financiers who pay money for the right to receive the future payments on your invoices. An overdue receivable or invoice has value. It is a financial obligation your customer has actually to pay in the near future. Factoring Principals--Although factoring offers solely with business-to-business transactions, a large portion of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail deals. Using the purest definition of the word, these big customer finance business are really just big Commercial Factoring Businesses of consumer paper. Consider it: You make a purchase at Sears and charge it to your MasterCard. The shop makes money almost instantly, although you do not make payment up until you are ready.

For this service, the credit card company charges Sears a fee (typical common normal charges vary from 2 to four percent of the sale). The Advantages Commercial Factoring can offer many advantages to cash-hungry companies. Rather than wait 30, 60, 90 days or longer for payment on a product that has already been delivered, a company can factor (sell) its receivables for money at a little discount off the amount of the invoice. Payroll, advertising efforts, and working capital are just a few of the company requirements that can be met with instant  cash.

Factoring provides the ways for a producer to replenish stock and make more items to sell: There is no longer a requirement to await for earlier sales to be paid. Receivable Loan Financing is not simply a cash management tool for producers: Practically any kind business can take advantage of FACTORING. Typically, a business that extends credit will have 10 to 20 percent of its yearly sales tied up in invoices at any given time. Think for a minute about how much is tied up 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 meet those obligations. Using trucking factoring companies is a fast and simple process. The factor buys the invoice at a discount, typically a couple of portion points less than the face value of the invoice.

 

 

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The U.s. Transportation Organization
specifies that there are about
200,000 work with freight trucking
firms and
300,000 private providers trucking
companies certified to
operate in the United States that transferred,
according to their most current searchings for billions of
products, materials and
standard materials .
There are numerous typical
carriers either going solo or in
groups on our country
highways carrying these
important items to our
stores, manufacturing facilities and ports.

Plus trucking factoring
firms help
countless of them and offer their
accounts receivablesfinancing facilities
nationallyincluding
including the following states.

: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho State, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming

 

Jersey City is the seat of Hudson County, New Jersey. As of the 2010 United States Census, the population of Jersey City was 247,597, making it the second-most populous city in New Jersey, after Newark.Part of the New York metropolitan area, Jersey City lies across from Lower Manhattan between the Hudson River and Upper New York Bay and the Hackensack River and Newark Bay. A port of entry, with 11 miles (18 km) of waterfront and significant rail connections, Jersey City is an important transportation terminus and distribution and manufacturing center for the Port of New York and New Jersey. Service industries have played a prominent role in the redevelopment of its waterfront and the creation of one of the nation's largest downtowns.After a peak population of 316,715 measured in the 1930 Census, the city's population saw a half-century long decline to a low of 223,532 in the 1980 Census, but since then the city's population has grown, with the 2010 population reflecting an increase of 7,542 (+3.1%) from the 240,055 counted in the 2000 Census, which had in turn increased by 11,518 (+5.0%) from the 228,537 counted in the 1990 Census

 

 

View Our Freight 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:

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

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

 

Click below to find Trucking Companies in the United States:

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

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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.

 

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.

 

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.

 

 

"

Rogers 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 Rogers Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. Times were great for everyone, and the cash was flowing.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed to a crawl

 

. Worse still, it was noticed by Rogers 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 Rogers, Albert Richards, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The numbers of clients who owed him back debt were growing.He had already been to the administrators to ask what the actual problem was. Were they doing things different, or wrong, when it came to collecting overdue accounts? When checking his bookkeeper's records this was definitely not the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. 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 Rogers hadn't gone elsewhere. The had just gone!.This current state-of-affairs was causing Albert Richards to have some very restless nights. He had employees to pay, goods to ship, trucks to maintain and overhead that was almost unbearable when compared against the lack of funds that were coming in. In the evenings he would discuss his concerns with his wife, Teresa, and still find no relief from the worry and frustration.

 

""I have a bad feeling, Lin,"" he would say with deep woe.""Well, what do you think it is?"" she would ask.Albert would stare off into the distance, and then slowly close his eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them on the road, delivering good to all his loyal customers. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. Why couldn�t he work out how to resolve this financial problem with his business?""I think I know what it could be,"" said Albert. ""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."" Teresa would look at her husband lovingly, and holding his hand would say 'it is such a harsh economy these days and our clients must be having difficulty meeting their responsibilities'.""Teresa was trying so hard to support her husband in these worrying times, while Albert was weighed down with the worry of how he was going to handle this situation he found himself in.The following day Albert walked into his office with a spring in his step, determined to call each and every client who owed money to Rogers Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Albert knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. Wasting money, wasting time - even with the best of intentions, Albert knew that he was in trouble.

 

Poor Albert 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 Albert?"" she asked standing in the doorway.

 

""Sure thing Carole, come on in."" Albert relaxed back into his chair and looked up at Caroleerley.""Well Albert, this afternoon I did some research, trying to work out how we are going to get out of this mess."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard of factoring?"" Caroleerley asked.""It sounds vaguely familiar. What is factoring""? he asked.She began, ""Well, it is really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Albert interrupted ""Immediately?"".""Immediately, yes"" she added, ""In a nutshell, it is pretty easy. We start by having a professional account manager review our figures and help us set up a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It provides a very broad view.""I see,� Albert said. �And then what?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. 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. Once we arrive at a mutual agreement, the funding begins.�Albert was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Carole,"" he said.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Albert: they've guaranteed that experts will do all the paperwork, and that will free us up to do what we should be doing - focusing on our customers in good standing, and that kind of stuff. And they're flexible Albert,"" she drew a circle around a paragraph on the document before him.""How flexible?"" asked Albert.""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. 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. 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,"" Albert said.Albert took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Precisely�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Albert 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 Rogers. Albert wasn't prepared to lose these relationships just because they were having financial issues at the moment. Albert knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. He did not want to lose business but he also did not want to lose any more money.""Let me go over this tonight Carole, and thankyou."" Carole nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Albert keep the shirt on his back, and possibly hers too.Albert stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. He wondered if there might be other problems freight factoring could help Rogers Truck & Haul with? Running his pencil down the sheet, he noted that the freight factoring company could assist with fuel costs, fuel advances, and fuel discount cards. Albert was surprised: it said that his company could get up to fifty percent cash advances on load pickups. 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 Derek the good news,"" muttered Albert to himself.Albert's son-in-law, Derek, loved the idea behind Rogers 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 Albert knew the struggles Derek would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Rogers was struggling then the little guys, like Derek, were going to be in even more trouble.

 

But, an antidote may have been found in freight factoring and Albert was soon 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, Albert found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They took that time and refocused effort to offering competitive prices in new territories. Albert 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.

 

"

 

Jersey City is the seat of Hudson County, New Jersey. As of the 2010 United States Census, the population of Jersey City was 247,597, making it the second-most populous city in New Jersey, after Newark.Part of the New York metropolitan area, Jersey City lies across from Lower Manhattan between the Hudson River and Upper New York Bay and the Hackensack River and Newark Bay. A port of entry, with 11 miles (18 km) of waterfront and significant rail connections, Jersey City is an important transportation terminus and distribution and manufacturing center for the Port of New York and New Jersey. Service industries have played a prominent role in the redevelopment of its waterfront and the creation of one of the nation's largest downtowns.After a peak population of 316,715 measured in the 1930 Census, the city's population saw a half-century long decline to a low of 223,532 in the 1980 Census, but since then the city's population has grown, with the 2010 population reflecting an increase of 7,542 (+3.1%) from the 240,055 counted in the 2000 Census, which had in turn increased by 11,518 (+5.0%) from the 228,537 counted in the 1990 Census

 

 

More Trucking Factoring Companies Story Articles

The Future of a Trucking Company, and Factoring Leon Hudson let the phone ring on his desk. He let his morning coffee cool and left his cigarette to ash itself in the tray, because he is trying to make the biggest decision ever for his trucking company. Hudson 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.

 

Leon�s father had started as an owner-operator and had grown Hudson Trucking Company into a fifteen trailer fleet over forty years. Yes, they had survived some very difficult times when it appeared like they might go under, and even Leon's mother had jumped into the cab at times to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. But now things were different: the company was in Leon's hands and he needed to ensure that this business would be left in great shape for his sons.

 

To move Hudson Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. His employees needed to be paid. They all have families and the usual household bills. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. He knew that turning down these requests made Hudson Trucking look inefficient and weak in what was currently a strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Leon chuckled, thinking about his father. He remembered when his father was totally against installing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� 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). His father days were long gone and technology was actually an important improvement for the business such as having Qualcomm to cut down on fruitless time communicating on the phone for bills of lading.

 

Leon believed a successful man is always thinking of his next step. What would be the next step for Hudson 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. 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 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. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. Without this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Leon had to really consider what his next step was going to be. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

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 was quite happy to sign an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. Many companies offered a non-recourse factoring program that suited him just fine. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It sounded like a great scheme to him.

 

It was really refreshing dealing with the factoring people. They were extremely helpful and more personable than the bank staff. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar for a handout. The factoring companies were not interested in his credit nor the financial problems his father had experienced in the past. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Leon 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 Hudson 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.

 

Leon 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. With the capabilities of this new cash flow, Leon could actually expand Hudson 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.

 

 

 

View Our Trucking Factoring Companies Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� Kenneth Griffin asked as he leaned back in his chair, crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she said.Kenneth Griffin owned a small trucking company, and his business had recently fallen on difficult times. Trucking could be a profitable business, and for a little under a decade, it had been for Guy. He named his business Allen Trucking, named after Darrell and Aaron, his two grandfathers. They had both been hardworking men, and had done a lot to make Kenneth the same.Disaster had struck half a year ago, when two trucks in Guy�s fifteen truck fleet went down. One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. Kenneth 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.

 

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.Kenneth 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.That�s where the woman across the desk came in. Her name was Ramona and she worked for a factoring company. 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.Ramona 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. That way we�re protected from a complete loss, but you�re protected from the outrageous fees you would find in a loan from the bank.Kenneth nodded. It sounded perfect - perhaps too good?.Ramona laughed. �You look like you don�t believe me,� she said.�Oh no, I do: it just sounds too good to be true. I thought I was going to lose my company.�Ramona nodded. �Yes, we get a lot of that. Listen, I�d hate to see you lose your company. You work hard, you�ve put everything you can into it. Sometimes you need help. That�s what we�re here for.""In any case, thank you for coming to see me.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� Ramona said with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Kenneth filled the form out, with Ramona available to help him if he needed it. The completed profile gave Ramona and her company all the information they needed on Guy's business, and with this information they would determine if this business would in fact be suitable for Factoring. Unfortunately, not all companies are. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. Listening as Kenneth filled out his form, Ramona was pretty sure he was a perfect candidate for factoring.When the form was done Ramona took it and slid it into her briefcase. She then stood, reached across the desk and shook Guy�s hand. He also stood up, and they smiled at each other. They said their goodbyes and Kenneth 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. But now, after speaking to Ramona 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. 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 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 six months off, and during that time he decided to create Allen Trucking. So he did it. For the second time in his short life he created a company from the ground up. He had been successful.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. 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. Guy's eyes opened, he sat forward in his chair and turned on his computer. 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.

 

"

 

 

 

More Trucking Factoring Company Story Articles

Reasons why Truck Corporations Work with Factoring Firms.

 

As the operator of your own establishment, you may likely be more than wary already of the challenge in making certain that capital issues do not become a predicament down the line. After all, the most unfortunate thing that can quite possibly develop for your company is to find yourself embroiled in a long and difficult situation that leaves you forever looking for the resources you require on an continual manner.

 

For any kind of business in this case, the problem can come for waiting for work to clear up and actually be provided into your statement. Invoices, checks, and the like could take some time to actually to beprocessed which can easily leave you with momentary available resources dilemmas. Fortunately, there are approaches out there for enterprises to explore-- and just one of these is factoring companies.

 

Factoring agencies will, in trade for your statements, give you with the finances right now to ensure that you do not need to worry about the lingering time span which could make paying the bills and getting materialsmore challenging. With this type of setup, invoice factoring can end up being extraordinarily useful for numerous establishments who ought to get out of a cash pitfall which they have gotten themselves in.

 

Due to the fact that, relying on the scale of the work, it can take up to 60 days for a number of business enterprises to get paid then it is vital to blanket your own back and not leave yourself cash short to pay off the costs. After all, how many firms have two months cash flow just lying there to handle all their expenditures until they get paid?

 

This is primarily true of trucking enterprises. They generally take care of tons of invoices which means a huge volume of collection time demands business owner themselves. Seeking to get paid out in time can become an incredible hassle and this is precisely why you make use of trucking factoring companies who are happy to help out truckers particularly.

 

As we all know, trucking is an remarkably large business with many firms out there hiring hundreds of vehicle drivers. The sad thing is, several of these drivers end up in income predicaments for the reason that they are still waiting for work from six weeks in the past to actually pay them. When this is the condition for a truck organization, depending on factoring companies for reinforcement may be the most recommended option left.

 

This indicates that a truck organization can pay off the paychecks of the workers, keep all the cars refilled with fuel and continue to escalate, evolve and expand without continually waiting for the funds which is taking too long to come in. Trucking Companies functioning without a factoring program used are leaving themselves at substantial risk, as rivals cash out fast and go on to grow.

 

There's absolutely almost nothing to be troubled about when it comes to employing a Factoring establishment-- they are not like a banking company or any individual who is going to leave you with a large pile of personal debt to pay back. You give them legitimate invoices from job you have already accomplished , you are just speeding the payment process.

 

In the United states of America, where truck firms prosper, factoring establishments are not considered accepting loan of in any capacity. This private contract then permits both parties to profit and take joy in a comfortable future-- it gives the factoring agency a guaranteed asset of income to put into the list and it furnishes the trucking business the required funds that they worked hard to obtain.

 

The trucking firm provides their accounts to the factoring company. The trucking factoring provider then take the installment payments from the trucking company's customers. Factoring has beenaround for hundreds of years and has been employed for decades by many varying business sectors-- but none much more so than truckers. While you could lose out on a small part of the money, something like 1-3 % depending upon who you collaborate with, it signifies that you are acquiring the money today and can actually start off setting the resources to function.

 

Anyway, an IOU or an invoice is not going to cover overheads, is it? For trucking establishments when the funds can be good one day and gone the next, it is up to the drivers to work prudently and to guarantee they are leaving themselves with a significant quantity of time and finance to get through the week until they are compensated again.

 

So the next period your trucking business is enduring some temporary capital dilemmas and you are spending excessive time chasing slowly paying clienteles, why not begin looking into making use of a factoring companies as a means to get your finances 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

 

Finance through a bank loan is the normal, or traditional, way of financing your business. While these loans are handy they are not available to every business. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Once the loan is paid off, you can then apply for another loan if the need arises.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not offer loans, and you do not go into debt when you get money from a Trucking Factoring company. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to sell. Once 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. 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. 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. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. No Collateral Required. Another great benefit of using the services of a Trucking Factoring company instead of a bank loan is that there is no collateral required for the Trucking Factoring company, because the Trucking Factoring company is buying your accounts receivables. 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. Receive Your 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 you do not have to worry about monthly loan repayments, and you do not have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The 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.

 

In addition, since the Trucking Factoring company evaluates the credit quality of your customers prior to purchasing the accounts receivable you gain valuable information into which customers are likely to pay and which ones are not so likely to pay.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

Los Angeles


Chicago


Houston


Philadelphia


Phoenix


San Antonio


San Diego


Dallas


San Jose

Austin


Jacksonville


Indianapolis


San Francisco


Columbus


Fort Worth


Charlotte


Detroit


El Paso


Memphis

 

 

Boston


Seattle


Denver


Washington DC


Nashville-Davidson


Baltimore


Louisville/Jefferson


Portland


Oklahoma City


Milwaukee


Las Vegas


Albuquerque


Tucson


Fresno


Sacramento


Long Beach


Kansas City


Mesa


Virginia Beach


Atlanta

 

Colorado Springs


Raleigh


Omaha


Miami


Oakland


Tulsa


Minneapolis


Cleveland


Wichita


Arlington

 

New Orleans

Bakersfield

Tampa

Honolulu

Anaheim

Aurora

Santa Ana

St. Louis

Riverside

Corpus Christi

Pittsburgh

Lexington Fayette

Anchorage

Stockton

Cincinnati

St. Paul

Toledo


Newark

Greensboro

Plano

Henderson

Lincoln

Buffalo

Fort Wayne

Jersey

Chula Vista

Orlando

St. Petersburg

Norfolk

Chandler

Laredo

Madison

Durham

Lubbock

Winston Salem

Garland

Glendale

Hialeah

Reno

Baton Rouge

Irvine

Chesapeake

Irving

Scottsdale

North Las Vegas

Fremont

Gilbert town

San Bernardino

Boise

Birmingham

Rochester

Richmond

Spokane

Des Moines

 

 

 

 

 

Philadelphia

 

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