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The Instrument of Profitable Companies - Our Truck Factoring Companies Can Give
Your Trucking Company The Money Your Company Needs

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freight factoring definition

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Medium-Size freight businesses, particularly those who have not been in existence for really long, will commonly find it tough to secure a loan. Banks are typically hesitant to provide money to businesses that do not have a great deal of income and assets. They likewise want evidence of the practicality of a company and thus require that many operations, particularly little ones, been around for a certain quantity of time before they are prepared to hand over any cash. Due to the fact that of this, a small company typically has few money producing options when needs occur. One option readily available, but often overlooked, is factoring. This is an exceptional means for a small business to get money.

 

 

 

 

 

 

 

How To Get Financing Without a Lawyer for Under One Dollar - Select A Receivable Loan C0mpany Instead Of A Traditional Bank Funding

How to Increase Cash Flow Without Loaning -Cash Money flow is among the primary 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 more. Do not be fooled -- banks are not the only locations you can get financing. Other solutions are offered and you do not have to borrow. What is truck factoring ? One option is called trucking factoring. Truck Factoring is the procedure of offering accounts receivable to a financier instead of waiting to collect the money from the client. Oh, the Irony- Trucking factoring has an ironic distinction: It is the financial foundation of many of America's most effective businesses. Why is this ironic ? Because commercial factoring is not taught in business colleges, is rarely mentioned in company strategies and is fairly unidentified to the majority of most of American business people.

Yet it is a monetary procedure that frees billions of dollars every year, allowing countless companies to grow and prosper. Invoice Factoring has been around for countless years. Truck Factoring Businesses are financiers who pay money for the right to get the future payments on your invoices. An overdue receivable or invoice has value. It is a debt your customer has to pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business transactions, a large percentage 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 large consumer finance business are truly just big Receivable Loan Financing Companies of customer paper. Consider it: You make a purchase at Sears and charge it to your MasterCard. The store makes money practically instantly, even though you do not pay up until you are prepared.

For this service, the credit card business charges Sears a charge (typical common normal fees vary from 2 to four percent of the sale). The Benefits Factoring can offer many advantages to cash-hungry companies. Rather than wait 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 discount off the dollar value of the invoice. Payroll, marketing efforts, and working capital are just a few of the company requirements that can be met with instant  money.

Receivable Funding provides the ways for a manufacturer to replenish stock and make more products to sell: There is no longer a need to await for earlier sales to be paid. FACTORING is not just a money management device for producers: Almost any kind business can take advantage of Truck Factoring. Generally, a business that extends credit will have 10 to 20 percent of its annual sales bound in accounts receivable at any given time. Think for a moment about how much is bound in 60 days' worth of invoices: You can not pay the power expense or today s payroll with a client s invoice, however you can offer that invoice for the money to meet those obligations. Using truck factoring companies is a fast and simple procedure. The factor buys the invoice at a price cut, usually a few percentage points less than the face value of the invoice.

 

 

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The United states Truck Organization
mentions that there are about
200,000 workers with truck
companies and
250,000 private companies trucking
firms certified to
run in the United States that transferred,
according to their latest listings of millions of
products, supplies and
standard materials .
There are numerous typical
providers either going solo or in
teams on our country
roadways transporting these
important items to our
shops, manufacturing facilities and shipping ports.

Plus freight invoice factoring
businesses help
several of them and offer their
receivable loan services
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

 

"

The economy of Oklahoma City, once just a regional power center of government and energy exploration, has since diversified to include the sectors of information technology, services, health services and administration. The city has three Fortune 500 companies: as well as several others that are in the Fortune 1000 along with numerous large privately owned companies. The city is home to the corporate headquarters of Sonic Drive-In, whose office building and corporate restaurant is located in the Bricktown district of downtown Oklahoma City.Other large employers in Oklahoma City include: According to the Oklahoma City Chamber of Commerce, the metropolitan area's economic output grew by 33 percent between 2001 and 2005 due chiefly to economic diversification. Its gross metropolitan product was $43.1 billion in 2005 and grew to $61.1 billion in 2009.In 2008, magazine named Oklahoma City the most ""recession proof city in America"". The magazine reported that the city had falling unemployment, one of the strongest housing markets in the country and solid growth in energy, agriculture and manufacturing. However, during the early 1980s, Oklahoma City had one of the worst job and housing markets due to the bankruptcy of Bank in 1982 and then the post-1985 crash in oil prices.In 2013, ranked Oklahoma City No. 8 on its list of the Best Places for Business and Careers.Business districts[edit]See also: Neighborhoods of Oklahoma CityBusiness Districts, and to a lesser extent, neighborhoods tend to maintain their boundaries and character through the application of zoning regulations and Business Improvement Districts (districts where property owners agree to a property tax surcharge to support additional services for the community). Through zoning regulations, historic districts, and other special zoning districts, including overlay districts, are established. Oklahoma City currently has three Business Improvement Districts, including one encompassing the Central Business District

 

"

 

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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:

Click below to find Trucking Companies in the United States:

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

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

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

 

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

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

 

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.

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.

 

"

Nichols Truck & Haul have been operating their business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the boom times from 2002 to 2007 Nichols 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. The money was flowing, and times were great.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 down. Worse still, it was noticed by Nichols 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, Jim Hunt, CEO of Nichols felt a chill go down his spine whenever he would look at the weekly A/R reports. The numbers of clients who owed him back debt were growing.He had 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? By his bookkeepers records, this wasn't the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Nichols money had jumped ship and decided to leave him holding the bag.

 

. They could not afford to pay him their debt, but they could afford a lesser service, maybe. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. The had just gone!.To Jim Hunt the situation looked desperate. Jim 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. After work he would confide in his wife, Suzanne, and neither were unable to stop the constant worry over the lack of funds.""I have a bad feeling, Lin,"" he would say with deep woe.""What could you do differently?"" she would ask.Jim would stare off for a moment and then close eyes. He could see the fleet of trucks he had purchased over the years. He could see them traveling, bringing goods to all of his clients. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. What on earth was happening to create the death of his business?""I know what it is,"" said Jim. ""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."" Linda could only grab her husband's hand and look at him lovingly, ""it is a hard economy. It might be awhile until things get settled up.

 

""Jim knew his wife meant well, but he knew that he was responsible for too many people to sit idly by, waiting for the sun to peak over the clouds.The following day Jim walked into his office with a spring in his step, determined to call each and every client who owed money to Nichols 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. 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, Jim knew that he was in trouble.

 

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 Eleanorerley knocked at his door.

 

""Jim, can I have a word?"" she asked standing in the doorway.

 

""Of course Eleanor, please come in."" Jim leaned back in his chair and looked expectantly at Eleanorerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Jim."" 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?"" Eleanorerley asked.""It does sound vaguely familiar. What is it?"" he said.She began, ""Well, it is really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Jim interrupted ""Immediately?"".""Immediately, yes"" she added, ""it is actually very simple. We can have an expert account manager review our numbers and help us complete a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.""Jim replied cautiously ""I see - and what happens then?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. 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.�Jim was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""I do not know, Eleanor - it just sounds too good to be true"", Jim said quietly.""Now, now, I know, I thought the same thing. 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 Jim,"" she drew a circle around a paragraph on the document before him.""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. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" said Jim.Jim 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.""Jim 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 Nichols. Jim wasn't prepared to lose these relationships just because they were having financial issues at the moment. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. That unknown amount of time could create a disaster situation for both of them if he wasn't careful in how these debtors were handled. Of course he did not want to lose any more money, but he did not want to lose business either.""Well, let me think about this tonight Eleanor, thank you."" Eleanor nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Jim stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. What other issues could freight factoring help Nichols 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. Jim was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Jim 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.""Well, I'll have to tell Tyrone about this,"" muttered Jim to himself.His son-in-law Tyrone had liked the idea of Nichols so much and revered his father in law for having such business acumen that only two years before, he had gathered the venture capital to begin his own transportation service company. At that time Jim knew the struggles Tyrone would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Nichols was struggling then the little guys, like Tyrone, were going to be in even more trouble.

 

But, maybe the answer for both of them was in freight factoring, and Jim was going to find out very soon.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Jim was beginning to find his way out of the hole his debtors had created for him.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They used that time to refocus their efforts in being competitive in new territories. Jim looked back on the dismal months of life before freight factoring and almost shuddered at the thought. If Jim hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

"

The economy of Oklahoma City, once just a regional power center of government and energy exploration, has since diversified to include the sectors of information technology, services, health services and administration. The city has three Fortune 500 companies: as well as several others that are in the Fortune 1000 along with numerous large privately owned companies. The city is home to the corporate headquarters of Sonic Drive-In, whose office building and corporate restaurant is located in the Bricktown district of downtown Oklahoma City.Other large employers in Oklahoma City include: According to the Oklahoma City Chamber of Commerce, the metropolitan area's economic output grew by 33 percent between 2001 and 2005 due chiefly to economic diversification. Its gross metropolitan product was $43.1 billion in 2005 and grew to $61.1 billion in 2009.In 2008, magazine named Oklahoma City the most ""recession proof city in America"". The magazine reported that the city had falling unemployment, one of the strongest housing markets in the country and solid growth in energy, agriculture and manufacturing. However, during the early 1980s, Oklahoma City had one of the worst job and housing markets due to the bankruptcy of Bank in 1982 and then the post-1985 crash in oil prices.In 2013, ranked Oklahoma City No. 8 on its list of the Best Places for Business and Careers.Business districts[edit]See also: Neighborhoods of Oklahoma CityBusiness Districts, and to a lesser extent, neighborhoods tend to maintain their boundaries and character through the application of zoning regulations and Business Improvement Districts (districts where property owners agree to a property tax surcharge to support additional services for the community). Through zoning regulations, historic districts, and other special zoning districts, including overlay districts, are established. Oklahoma City currently has three Business Improvement Districts, including one encompassing the Central Business District

 

"

 

More Trucking Factoring Companies Story Articles

"

Factoring in the Future of a Trucking Business: A Story The phone was ringing on his desk, and Clyde Riley just sat there letting it ring. He let his morning coffee cool and left his cigarette to ash itself in the tray, because he is trying to make the biggest decision ever for his trucking company. Riley 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.

 

Clyde�s father had started as an owner-operator and had grown Riley 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 Clyde'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 Clyde's hands and he needed to ensure that this business would be left in great shape for his sons.

 

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

 

His father would have told him to wait and to take his time adding on new technology. Clyde chuckled, thinking about his father. 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?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. He knew his father's days were long gone and new technology was very important for the business, like having Qualcomm to reduce communication time for bills of lading.

 

Clyde believed a successful man is always thinking of his next step. What would be the next step for Riley Trucking? More importantly, how could he afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

He wondered about factoring - was this the answer for him? If he was being honest, he did not really understand how it all worked. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Clyde 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. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost 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. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He didn�t mind signing an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. He was more than happy with the figures he was offered in percentage terms on the freight bills. It was good money.

 

For Clyde 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 didn�t worry over his credit and the debt troubles his father had had in the past of the company. Factoring was based on the credit of his customers and on their reliability which worked well for Clyde 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 Riley Trucking and the factoring companies appeared capable of handling the accounts receivable in the same polite manner that his father had used over the years.

 

Feeling happier now, Clyde stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. He suddenly realized that, with this new cash flow, he could actually expand Riley 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.

 

"

 

 

 

 

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Trucking Factoring  Articles

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�So It is not a loan?� Herman Gonzalez 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 stated.Herman Gonzalez 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 Jim. His company was called Jimenez Trucking, named after both of his grandfathers, Frederick and Benjamin. They had both been hardworking men, and had done a lot to make Herman the same.Disaster had struck half a year ago, when two trucks in Jim�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. The financial security of Jim's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Herman had on hand.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

You could go a month or more before bills were completely paid off. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Herman was an excellent business man, and he certainly hadn't done anything wrong. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.And that's why he found himself across the desk from this woman. Herman knew she was employed by a Factoring company and that her name was Georgia. 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.Georgia explained. �it is really not a loan at all: we actually buy 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.Herman nodded. It sounded perfect - perhaps too good?.Georgia laughed. �I'm not sure that you believe me,� she said.�No, I do, I just think it sounds a bit too good to be true. I thought I was going to lose my company.�Georgia nodded. �Yes, we get a lot of that. There's no way we want to see you lose your business. We know how hard you work, and that you've invested everything in your business. Sometimes you need help. That's why we do what we do.""Well, I'm very grateful that you came to see me today.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� Georgia said with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Herman filled the form out, with Georgia available to help him if he needed it. The completed profile gave Georgia and her company all the information they needed on Jim's business, and with this information they would determine if this business would in fact be suitable for Factoring. In truth, not all companies were. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. As Herman completed his form, Georgia listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Georgia took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Jim�s hand. He also stood up, and they smiled at each other. Herman walked Georgia to the door where they said 'Goodbye', then he went back into his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He leaned back and closed his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. But now, after speaking to Georgia and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.All those long, sleepless nights. The terrifying panic attacks that occurred regardless of where he was. 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.Herman couldn�t help but think back to when he had first started the business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been really successful. Offering home cooking in his own hometown, his business had really prospered.But he had gotten bored. His passion didn�t lie with 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 Jimenez Trucking. So he did it. For the second time in his short life he created a company from the ground up. He had been successful.And then the trucks went down, and his success looked to be in flux. He was nearing fifty. He was concerned that he just did not have the energy left to try and save the business. But he couldn�t give up. The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He 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. Herman opened his eyes, sat forward, turned his computer on. He had things to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

Why Trucking Agencies Make use of Factoring Firms.

 

As the manager of your own company, you may perhaps be more than aware already of the hardship in making sure that cash flow concerns do not become a problem down the line. After all, the most horrible thing that can possibly come about for your firm is to find yourself embroiled in a long and hard circumstance that leaves you forever searching for the funds you require on an continual basis.

 

For any kind of firm in this condition, the concern can come for waiting for work to clear up and actually be paid out into your balance. Statements, checks, and the like can take a while to actually to beprocessed which can easily leave you with momentary available resources difficulties. Fortunately, there are opportunities out there for establishments to investigate-- and one of these is factoring companies.

 

Factoring companies will, in substitution for your bill of sales, give you with the cash asap to ensure you do not need to fret about the lingering duration which could make paying out the expenses and purchasing toolsmore complicated. With this style of system, invoice factoring can end up being extremely beneficial for several businesses who need to avoid a money trap which they have discovered themselves in.

 

Because, relying on the volume of the job, it can take up to 60 days for many enterprises to get paid then it is important to cover up your own back and not leave yourself cash short to pay the monthly bills. After all, how many businesses possess two months earnings just lying there to address all their bills till they make money?

 

This is specifically true of trucking enterprises. They often deal with tons of invoices which means a significant volume of collection time demands business owner themselves. Attempting to get paid promptly can become an extraordinary inconvenience and this is why you employ trucking factoring providers who are pleased to help out truckers exclusively.

 

As we all understand, trucking is an unbelievably massive field with numerous companies out there working with hundreds of vehicle drivers. The sad thing is, plenty of these drivers wind up in money predicaments since they are still waiting on work from six weeks in the past to actually compensate them. When this is the situation for a trucking agency, resorting to factoring providers for assistance may be the very best alternative left.

 

This indicates that a trucking company can provide the salaries of the staff, keep all the cars topped off with gas and continue to go up, develop and expand without always waiting for the income which is taking too long to come in. Trucking Enterprises operating without a factoring system applied are leaving themselves at notable hazard, as competitors cash out fast and continue to develop.

 

There's absolutely nothing to be worried about when it comes to utilizing a Factoring company-- they typically are not like a bank or somebody who is going to leave you with a considerable mass of financial obligation to repay. You give them legitimate invoices from job you have already accomplished , you are simply hastening the payment system.

 

In the United States, where truck agencies do well, factoring agencies are not considered taking on loan in any capacity. This confidential agreement then makes it possible for both parties to profit and experience a convenient future-- it provides the factoring firm a secured asset of earnings to add to the list and it provides the trucking business the needed finances that they sweated to earn.

 

The trucking enterprise bestows their accounts to the factoring agency. The trucking factoring business then take the payment amounts from the trucking company's clients. Factoring has beenaround for hundreds of years and has been used for several years by many different business-- but none more so than truckers. While you may well lose out on a small part of the money, something like 1-3 % depending on who you work with, it signifies that you are acquiring the funds today and can actually begin setting the cash to do work.

 

After all, an IOU or an invoice is certainly not going to pay for expenditures, is it? For trucking agencies when the income can be fantastic one day and gone the next, it is up to the vehicle drivers to work smartly and to guarantee they are leaving themselves with a notable measure of time and money to get through the week till they are paid for once more.

 

So the next occasion your trucking enterprise is bearing some temporary cash flow concerns and you are investing too much time chasing inactive paying clienteles, why not start off thinking of using a factoring businesses as a way to get your cash and give yourself a more comfortable future in the eyes of your trucking personnel and your bank dividend?

 

 

 

 

 

 

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Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. 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. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. 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 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.

 

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

 

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

 

3. You'll receive the money faster. Using a Trucking Factoring company means that you'll get the finance quicker. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.You receive interest up-front. With a bank loan interest continues to build, and this has to be paid the whole time you have a business loan; however with a Trucking Factoring company there is no interest - they take it right off the top by deducting it from the total amount of receivable accounts. So not only are you relieved of those monthly loan payments, but you also do not have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very efficient at debt collecting, and this frees up your valuable time to devote to running your company.

 

Another bonus is that, because the Trucking Factoring company has evaluated the quality of your customers' credit before buying the accounts receivable, you learn valuable information regarding your customers, like which ones are likely to pay, and which ones are less likely to pay.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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