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Take This One Minute Test - Our Truck Factoring Companies Can Give
Your Freight Company The Money Your Company Needs

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Small truck companies, particularly those who have actually not been around for really long, will frequently find it tough to secure a loan. Banks are frequently reluctant to provide cash to companies that do not have a lot of income and possessions. They also desire evidence of the viability of a company and thus require that most operations, specifically little ones, been around for a specific quantity of time before they want to turn over any cash. Due to the fact that of this, a medium-size company frequently has a couple of money generating options when needs emerge. One choice available, but frequently neglected, is receivable Financing. This is an excellent method for a small business to obtain money.

 

 

 

 

 

 

 

Six Types of Companies - Which Group Are You In? - Choose An Invoice Factoring Company Instead Of A Typical Bank Financing

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

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

Money flow does not have to be a problem any ever more. Do not be fooled -- banks are not the only locations you can get funding. Other options are available and you do not have to borrow money. What is truck factoring ? One option is called truck factoring. Trucking Factoring is the process of offering accounts receivable to an investor instead of waiting to collect the cash from the customer. Oh, the Irony- Trucking factoring has an ironic difference: It is the financial backbone of numerous of America's most successful companies. Why is this paradoxical ? Since receivable loan funding is not instructed in business colleges, is rarely mentioned in business plans and is fairly unidentified to the majority of most of American company people.

Yet it is a monetary process that releases up billions of dollars every year, enabling thousands of companies to grow and succeed. Commercial Factoring has been around for thousands of years. Factoring Companies are financiers who pay money for the right to get the future payments on your invoices. An unpaid receivable or invoice has value. It is a debt your client has actually agreed pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business deals, a big percentage of the retail company utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a type of factoring in their retail deals. Utilizing the purest meaning of the word, these large customer finance business are truly just big Commercial Factoring Companies of consumer paper. Consider it: You make a purchase at Sears and charge it to your MasterCard. The shop gets paid practically immediately, although you do not pay up until you are ready.

For this service, the credit card business charges Sears a fee (typical common normal charges range from 2 to 4 percent of the sale). The Advantages Invoice Factoring can offer many benefits to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on an item that has actually currently been provided, a company can factor (sell) its receivables for cash at a little price cut off the amount of the invoice. Payroll, advertising efforts, and working capital are just a few of the company needs that can be met with instant  money.

Commercial Factoring offers the means for a producer to renew stock and make even more items to sell: There is no longer a need to wait for earlier sales to be paid. FACTORING is not simply a cash management tool for manufacturers: Practically any kind business can take advantage of Staffing Factoring. Generally, a company that extends credit will have 10 to 20 percent of its yearly sales bound in accounts receivable at any given time. Think for a moment about how much is tied up in 60 days' worth of invoices: You can not pay the power expense or today s payroll with a client s invoice, but you can sell that invoice for the money to meet those responsibilities. Using truck factoring companies is a fast and simple procedure. The factor purchases the invoice at a price cut, usually a couple of portion points less than the face value of the invoice.

 

 

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The American Truck Association
specifies that there around
200,000 workers with transportation
companies and
300,000 personal companies trucking
companies accredited to
run in the United States that carried,
according to their latest searchings for billions of
items, supplies and
standard materials .
There are numerous typical
carriers either going solo or in
teams on our nation
roadways transporting these
important items to our
shops, manufacturingplants and shipping ports.

Plus truck factoring
corporations support
countless of them and offer their
receivables financing facilities
nationwideincluding
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

 

Oxnard /'?ksn?rd/ is a city in the United States, located along the coast of Southern California. It is the 19th most populous city in California and the most populous in Ventura County. The city lies approximately 35 miles west of the Los Angeles city limits, and is part of the larger Greater Los Angeles area. The population of Oxnard is 203,585 as of the 2012 Financial Report.[6] Oxnard is the most populous city in the Oxnard-Thousand Oaks-Ventura, CA Metropolitan Statistical Area, which is listed as one of the wealthiest areas in America, with its residents making well above the average national income.[7][8] In 2013, Oxnard was ranked as one of the safest cities in America with violent crime rates well below the national average.[9][10][11]Oxnard was incorporated in 1903. It is located at the western edge of the fertile Oxnard Plain, sitting adjacent to an agricultural center of strawberries and lima beans. Oxnard is also a major transportation hub in Southern California,california stopping in Oxnard. Oxnard also has a small regional airport called Oxnard Airport (OXR).The economy of Oxnard is driven by international trade, agriculture, manufacturing, defense, and tourism. Oxnard is one of the key manufacturing centers in the Greater Los Angeles Area. The Port of Hueneme is the busiest and only deep-harbor commercial port between Los Angeles and San Francisco, and is vital to trade with the Pacific Rim economies. Companies utilizing the Port . Other key industries driving Oxnard's existence include finance, transportation, the high tech industry, and energy, particularly petroleum. Two large active oil fields underlie the city and adjacent areas: the Oxnard Oil Field, east of the city along 5th Street, and the West Oil Field along the coast to the west of town. Ten Refinery, on 5th Street east of Del Norte Avenue, processes oil from both fields.

 

 

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Factoring Companies Calculator
This calculator will show you how much you will make by using our Factoring Companies . But, as your about to discover, you will certainly notice the increased cash flow that will occur when you use our Factoring Companies
Enter the principal balance of your Factoring Companies
(call your Factoring Companies lender and ask for the current payoff amount):
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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

 

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.

 

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

Click below to find Trucking Companies in the United States:

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

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

 

 

"

Hughes Truck and Haul has been in business since the mid 1980s. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the heady times from 2002 to 2007, Hughes was a top rated accounts receivable mastermind of 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 Hughes 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, Todd Payne, CEO of Hughes 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 gone to his administrators and asked them what the problem had been. Were they doing things different, or wrong, when it came to collecting overdue accounts? When checking his bookkeeper's records this was definitely not the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Hughes money had jumped ship and decided to leave him holding the bag.

 

. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Hughes hadn't gone elsewhere. They had just gone home.To Todd Payne the situation looked desperate. 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. At night he would speak to his wife Bonnie and shake his head in frustration.

 

""I have a bad feeling, Lin,"" he'd sadly say to his wife.""What could you do differently?"" she would ask.Todd would stare off into the distance, and then slowly close his eyes. He could see the fleet of trucks he had purchased over the years. He could see them traveling, bringing goods to all of his clients. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. Why couldn�t he work out how to resolve this financial problem with his business?""I know what it is,"" said Todd. ""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.

 

""Bonnie was trying so hard to support her husband in these worrying times, while Todd was weighed down with the worry of how he was going to handle this situation he found himself in.The following day Todd walked into his office with a spring in his step, determined to call each and every client who owed money to Hughes 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 Todd was realising just how much trouble he was in.Poor Todd 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 Todd?"" she asked standing in the doorway.

 

""Sure thing Bernice, come on in."" Todd leaned back in his chair and looked expectantly at Berniceerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Todd."" 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?"" Berniceerley asked.""It does sound vaguely familiar. What is factoring""? he asked.""Well,"" she began, ""It�s actually quite simple really.

 

Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Todd 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 provides a very broad view.""I see,� Todd said. �And then what?""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.�Todd leaned forward and reviewed the paperwork closely.""It sounds too good to be true, Bernice,"" he said.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Todd: 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 Todd,"" she underlined a paragraph on the paper before him.""How flexible?"" asked Todd.""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. 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,"" Todd said.Todd took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Todd thought about this and agreed with Berniceerley. The clients who owed them money were long standing friends and professional resources of Hughes. Todd wasn't prepared to lose these relationships just because they were having financial issues at the moment. Todd knew only too well that the whole economy was floundering, and that it was not going to change overnight. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both 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 Bernice, and thankyou."" Bernice stood up and left Todd's office, with the nice feeling of knowing that she may just have solved a very serious problem.Todd sat behind his desk and looked over the details Bernice had not mentioned in their meeting. What other issues could freight factoring help Hughes 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. Todd 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 Patrick the good news,"" Todd muttered to himself.Todd's son-in-law, Patrick, loved the idea behind Hughes 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 Todd knew the struggles Patrick would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Hughes was struggling then the little guys, like Patrick, were going to be in even more trouble. But, an antidote may have been found in freight factoring and Todd was soon to find out.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Todd found himself beginning to dig his way out of the hole his delinquent account holders had created for him.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. Todd looked back on the dismal months of life before freight factoring and almost shuddered at the thought. He probably wouldn't be in business today had he not learned just in time about freight factoring.

 

"

 

Oxnard /'?ksn?rd/ is a city in the United States, located along the coast of Southern California. It is the 19th most populous city in California and the most populous in Ventura County. The city lies approximately 35 miles west of the Los Angeles city limits, and is part of the larger Greater Los Angeles area. The population of Oxnard is 203,585 as of the 2012 Financial Report.[6] Oxnard is the most populous city in the Oxnard-Thousand Oaks-Ventura, CA Metropolitan Statistical Area, which is listed as one of the wealthiest areas in America, with its residents making well above the average national income.[7][8] In 2013, Oxnard was ranked as one of the safest cities in America with violent crime rates well below the national average.[9][10][11]Oxnard was incorporated in 1903. It is located at the western edge of the fertile Oxnard Plain, sitting adjacent to an agricultural center of strawberries and lima beans. Oxnard is also a major transportation hub in Southern California,california stopping in Oxnard. Oxnard also has a small regional airport called Oxnard Airport (OXR).The economy of Oxnard is driven by international trade, agriculture, manufacturing, defense, and tourism. Oxnard is one of the key manufacturing centers in the Greater Los Angeles Area. The Port of Hueneme is the busiest and only deep-harbor commercial port between Los Angeles and San Francisco, and is vital to trade with the Pacific Rim economies. Companies utilizing the Port . Other key industries driving Oxnard's existence include finance, transportation, the high tech industry, and energy, particularly petroleum. Two large active oil fields underlie the city and adjacent areas: the Oxnard Oil Field, east of the city along 5th Street, and the West Oil Field along the coast to the west of town. Ten Refinery, on 5th Street east of Del Norte Avenue, processes oil from both fields.

 

 

More Trucking Factoring Companies Story Articles

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

 

More than forty years ago Roger's father had started this business working as an owner-operator and eventually growing Collins 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 Roger'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. Now the company was solely in Roger�s hands and he wanted to live to see it in better 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. His employees needed to be paid. They had families and household bills too. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. He knew that turning down these requests made Collins 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. Roger chuckled, thinking about his father. His father had been against placing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. 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.

 

Roger knew he was right in his forward thinking. How would he take Collins Trucking to the next level? And how would he be able to afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

But was factoring the answer? If he was being honest, he did not really understand how it all worked. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Now it was time for Roger 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. 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! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

But it turned out to be quite easy. 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. 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. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a 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. Factoring was based on the credit of his customers and on their reliability which worked well for Roger because he and his father had built up good strong relationships over decades with their list of clients. 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 Collins Trucking, because the factoring companies handle themselves in such a polite and professional manner, similar to the way his father had managed the business in the past.

 

Feeling happier now, Roger 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 Collins 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

"

�So, this is not a loan?� Francis Hamilton 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.Francis Hamilton owned a small trucking company, and his business had recently fallen on difficult times. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Jonathan. His company was called Fernandez Trucking, named after both of his grandfathers, Antonio and Ricky. Both of these men had been very hardworking and had set a great example for Jonathan.Six months ago disaster struck Jonathan's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. The financial security of Jonathan'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 Francis had on hand.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

Waiting a month or longer for bills to be paid was quite normal. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Francis 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 Katrina 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.She sat there now, and 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.Francis agreed. It sounded perfect - perhaps too good?.The woman 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.�Katrina nodded. �Yes, we get a lot of that. 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.""Well, I'm very grateful that you came to see me today.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� said Katrina with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Francis completed the form, with Katrina offering advice as needed.

 

The completed profile gave Katrina and her company all the information they needed on Jonathan'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 were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. As Francis completed his form, Katrina listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Katrina took it and slid it into her briefcase. She then stood, reached across the desk and shook Jonathan�s hand. He also stood up, and they smiled at each other. They said their goodbyes and Francis 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 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 Katrina 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 sudden panic attacks, not matter where he was. Already he could feel all the stress start to drain away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was 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.Francis couldn�t help but think back to when he had first started the business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been successful. 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 Fernandez Trucking. So he did it. Once again he built a company from the ground up. The business had been an instant success.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was about to turn fifty. He was concerned that he just did not have the energy left to try and save the business. But giving up wasn't part of his personality either.

 

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 it seemed as though he would not have to - all because of Factoring. Francis opened his eyes, sat forward, turned his computer on. 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

Why Trucking Firms Work with Factoring Companies.

 

As the operator of your own business, you may well be more than mindful already of the hardship in making certain that capital issues do not become a problem down the line. Anyway, the most terrible thing that can potentially take place for your company is to find yourself involved in a long and challenging situation that leaves you forever trying to find the resources you require on an on-going basis.

 

For any type of establishment in this condition, the trouble can come for waiting for work to lapse and actually be brought in into your account. Invoices, checks, and the like could take a while to actually to be taken care of which can certainly leave you with temporary capital issues. Fortunately, there are opportunities out there for establishments to investigate-- and among these is factoring agencies.

 

Factoring providers will, in substitution for your invoices, supply you with the cash money asap so you do not need to worry about the waiting phase that could make paying out the bills and getting toolsmore difficult. With this form of system, invoice factoring can come to be remarkably practical for several companies who ought to get out of a cash lure which they have found themselves in.

 

Since, relying on the volume of the task, it can take up to 60 days for several enterprises to get paid then it is crucial to blanket your own back and certainly not leave yourself money short to pay the bills. After all, how many firms possess two months revenue just lying there to cover all their costs till they get paid?

 

This is especially correct of trucking agencies. They often tend to manage tons of statements which means a substantial quantity of collection time demands business owner themselves. Trying to get compensated promptly can become an extraordinary trouble and this is the reason why you make use of trucking factoring firms who are pleased to help out truckers particularly.

 

As all of us recognize, trucking is an surprisingly big field with countless firms out there utilizing hundreds of vehicle drivers. However, numerous of these drivers wind up in cash problems because they are still expecting work from six weeks back to actually compensate them. When this is the condition for a trucking business, resorting to factoring companies for support maybe the finest choice left.

 

This implies that a truck business can compensate the salaries of the crew, keep all the vehicles filled with fuel and continue to escalate, rise and expand without constantly waiting for the finances which is taking too lengthy to come in. Trucking Business enterprises functioning without a factoring program used are leaving themselves at considerable risk, as contenders cash out fast and proceed to expand.

 

There's honestly very little to be troubled about when it comes to using a Factoring business-- they are not like a bank or somebody who is going to leave you with a considerable stockpile of debt to repay. You give them authentic invoices from job you have already completed , you are simply expediting the payment process.

 

In the United States, where trucking enterprises thrive, factoring agencies are not considered accepting loan of in any capacity. This confidential deal then lets both parties to benefit and experience a worry-free future-- it provides the factoring company a warranted resource of earnings to include in the list and it offers the trucking business the needed cash that they sweated to obtain.

 

The trucking enterprise gives their statements to the factoring enterprise. The trucking factoring business then acquire the payment amounts from the trucking company's customers. Factoring has been in existence for centuries and has been employed for many years by plenty of varied markets-- but none more so than truckers. While you might possibly miss out on a small part of the money, something like 1-3 % depending on who you collaborate with, it signifies that you are acquiring the cash today and can actually start off putting the cash to perform.

 

Anyway, an IOU or an invoice is definitely not going to pay for spendings, is it? For trucking firms when the finances can be really good one day and gone the next, it is up to the drivers to work prudently and to ensure they are leaving themselves with a considerable measure of time and finance to get through the week until they are compensated once again.

 

So the next moment your trucking business is bearing some short-term capital problems and you are investing excessive time chasing slow paying clienteles, why not start off taking into consideration employing a factoring businesses as a manner to get your finances and give yourself a more comfortable future in the eyes of your trucking personnel and your bank balance?

 

 

 

 

 

 

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

 

Trucking Factoring Companies

 

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

 

What Are The Benefits Of A Trucking Factoring Company Versus A Traditional Bank Loan?

 

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

 

1. You will not Incur Debt. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. 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. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

2. No Collateral Required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

3. Receive Your Money Faster. Using a Trucking Factoring company means that you'll get the finance quicker. 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. 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, 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. 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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