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Imagine Holding Your banker Spellbound for 30 Minutes - Our Receivable Factoring Company Can Give
Your Freight Company The Money You Need

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Medium-Size freight businesses, specifically those who have not been in existence for really long, will commonly discover it challenging to secure a loan. Banks are typically hesitant to provide cash to businesses that do not have a great deal of earnings and properties. They also desire proof of the viability of a business and thus need that the majority of operations, particularly little ones, be in company for a certain amount of time prior to they want to hand over any money. Because of this, a medium-size company typically has a couple of cash generating options when needs develop. One alternative readily available, however commonly overlooked, is invoice factoring. This is an exceptional means for a small business to acquire cash.

 

 

 

 

 

 

 

Business Owners! Want Quick Curls? - Pick An Invoice Factoring Company Instead Of A Typical Bank Funding

How to Enhance Money Flow Without Borrowing -Cash Money flow is one of the primary reasons companies fail.

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

Cash flow does not have to be a problem any more. Do not be deceived -- banks are not the only locations you can get financing. Other solutions are offered and you do not have to borrow money. Exactly what is trucking factoring ? One solution is called trucking factoring. Truck Factoring is the process of selling invoices to a financier rather than waiting to collect the cash from the customer. Oh, the Irony- Truck factoring has an ironic difference: It is the monetary foundation of many of America's most effective companies. Why is this ironic ? Because truck factoring is not instructed in business colleges, is seldom mentioned in business strategies and is fairly unidentified to bulk of most of American business people.

Yet it is a monetary procedure that releases up billions of dollars every year, allowing countless businesses to grow and succeed. Invoice Factoring has actually been around for thousands of years. Staffing Factoring Businesses are investors who pay cash for the right to get the future payments on your invoices. An overdue receivable or invoice has value. It is a debt your client has to pay in the near future. Factoring Principals--Although factoring deals solely with business-to-business deals, a big portion of the retail company uses a factoring principal. MasterCard, Visa, and American Express all utilize a type of factoring in their retail transactions. Using the purest definition of the word, these big consumer finance companies are really simply large Receivable Loan Funding Companies of consumer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The store gets paid almost immediately, even though you do not make payment up until you are ready.

For this service, the charge card business charges Sears a fee (typical common normal fees vary from two to four percent of the sale). The Advantages Receivable Loan Funding can provide numerous advantages to cash-hungry companies. Instead of waiting 30, 60, 90 days or longer for payment on an item that has currently been provided, a business can factor (sell) its receivables for cash at a small price cut off the amount of the invoice. Payroll, marketing efforts, and working capital are just a few of the business needs that can be satisfied with instant  money.

Receivable Financing provides the ways for a manufacturer to renew stock and make even more products to offer: There is no longer a need to wait for earlier sales to be paid. Receivable Loan Financing is not just a cash management tool for producers: Almost any type business can take advantage of FACTORING. Generally, a company that extends credit will have 10 to 20 percent of its annual sales bound in accounts receivable at any given time. Think for a minute about exactly how much is tied up in 60 days' worth of invoices: You can not pay the power bill or today s payroll with a client s invoice, but you can offer that invoice for the cash to satisfy those obligations. Using truck factoring companies is a quick and easy procedure. The factoring company purchases the invoice at a discount, usually a couple of portion points less than the stated value of the invoice.

 

 

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The United states Trucking Organization
specifies that there around
195,000 work with transportation
businesses and
250,000 personal providers trucking
firms certified to
run in the States that transported,
according to their latest listings of millions of
items, supplies and
fundamental products .
There are several common
carriers either going solo or in
groups on our country
roadways transferring these
vital products to our
stores, manufacturingplants and shipping ports.

Moreover freight bill factoring
companies help
countless of them and offer their
receivable loan services
countrywidecounting
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

 

 

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Fort Worth, city (1990 pop. 447,619), seat of Tarrant co., N Tex., on the Trinity River 30 mi (48 km) W of Dallas; settled 1843, inc. 1873. An army post was established on the site in 1847, and after the Civil War became an Old West cow town. The first railroad (completed 1876) helped establish Fort Worth as a meatpacking and cattle-shipping point, and it soon also became a center for milling and shipping wheat. In 1919 oil was discovered to the west, and refineries and related installations were built. Fort Worth, which in its rivalry with Dallas calls itself the city ""where the West begins,"" has been financially revitalized since the construction of major industrial parks in the 1980s, and suburban expansion continues. Oil and gas, cattle, and grain remain important, but newer industries, such as aerospace and electronic equipment manufacture, wholesaling and distribution, transportation, communications, and food processing, have led economic development. The airline industry is critical, with both the Dallas�Fort Worth International Airport and Alliance cargo airport in or near the city;is based there.Fort Worth is the seat of Texas Christian Univ., Texas Wesleyan Univ., and a Baptist seminary. The Tarrant County Convention Center, Kimbell Art Museum, Amon Carter Museum, Modern Art Museum of Fort Worth, quadrennial Van Cliburn International Piano Competition, Texas Motor Speedway, Bass Performance Center (in Sundance Square), and the old stockyards are among its visitor attractions.

 

"

 

 

 

View Our Freight Factoring Companies YouTube Videos For More Information

 

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

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

 

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

 

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

 

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

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

 

Click below to find Trucking Companies in the United States:

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

 

"

Austin 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, Austin was a top rated accounts receivable mastermind of the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. The money was flowing, and times were great.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 Austin in early 2008 that even though most of their loyal customers were on time with their payments, there were a few late bloomers who were starting to spread the disease. Spring changed to summer, summer changed to fall, and the CEO of Austin, Ramon Boyd, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable 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? 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 Austin money had jumped ship and decided to leave him holding the bag.

 

. They could not afford to pay him their debt, but they could afford a lesser service, maybe. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Austin hadn't gone elsewhere. They had just gone home.The situation looked dire to Ramon Boyd. 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 Alma and shake his head in frustration.

 

""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""What could you do differently?"" she would say.Ramon would stare off for a moment and then close eyes. In his mind he could clearly see the fleet of trucks purchased over the many 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,"" Ramon said. ""For way too long I've been relying solely on profits received from invoices. For too long I've been allowing our clients to let their accounts become overdue."" Alma would look at her husband lovingly, and holding his hand would say 'it is such a harsh economy these days and our clients must be having difficulty meeting their responsibilities'.""Ramon 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 next day Ramon strolled into his office and was determined to sit down and make every phone call to every client who had owed Austin money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Ramon knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. Wasting money, wasting time - even with the best of intentions, Ramon 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 Doriserley knocked at his door.

 

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

 

""Sure thing Doris, come on in."" Ramon relaxed back into his chair and looked up at Doriserley.""Well Ramon, this afternoon I did some research, trying to work out how we are going to get out of this mess."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard the word factoring?"" Doriserley asked.""It sounds vaguely familiar. What is it?"" he said.She began, ""Well, it is really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Ramon interrupted ""Immediately?"".""Immediately, yes"" she added, ""In a nutshell, it is pretty easy. 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.. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It provides a very broad view.""I see,� Ramon 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. The funding commences once we�ve arrived at an agreement.�Ramon leaned forward and reviewed the paperwork closely.""It sounds too good to be true, Doris,"" he said.""Now, now, I know, I thought the same thing. But think about it, Ramon: 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. They appear to be very flexible, Ramon,"" she underlined a paragraph on the paper 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. It only takes 2 to 4 days for this to be figured out. ""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 Ramon.He took a deep breath and looked at his secretary with something she recognized as hope.""Precisely�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Ramon took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Austin Truck & Haul were professional resources of the company, but they were also long-standing friends. Ramon wasn't prepared to lose these relationships just because they were having financial issues at the moment. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. Of course he did not want to lose any more money, but he did not want to lose business either.""Let me go over this tonight Doris, and thankyou."" Doris stood up and left Ramon's office, with the nice feeling of knowing that she may just have solved a very serious problem.Ramon stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. He wondered if there might be other problems freight factoring could help Austin Truck & Haul with? With his pencil gliding down the sheet he noticed that the factoring company could help fray the cost of fuel with fuel discount cards and fuel advances. In fact, Austin could receive up to fifty-percent cash advances upon load pick-ups. Ramon 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 Adrian about this,"" muttered Ramon to himself.Ramon's son-in-law, Adrian, loved the idea behind Austin 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. Ramon knew then what struggles Adrian would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Austin was struggling then the little guys, like Adrian, were going to be in even more trouble.

 

But, an antidote may have been found in freight factoring and Ramon was soon to find out.Some months later, having successfully gone through the entire process of the application, having experts study his credit history and statements and review his accounts receivable, Ramon found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They took that time and refocused effort to offering competitive prices in new territories. Ramon recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. If Ramon hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

 

More Trucking Factoring Companies Story Articles

"

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

 

More than forty years ago Thomas's father had started this business working as an owner-operator and eventually growing Taylor 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 Thomas's mother had jumped into the cab at times to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. Now the company was solely in Thomas�s hands and he wanted to live to see it in better shape for his sons.

 

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

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Thomas allowed himself a good hard chuckle. His father had been against placing 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.

 

Thomas believed a successful man is always thinking of his next step. What would be the next step for Taylor Trucking? 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. 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? There was a lot he didn�t understand about the process. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. Without this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Thomas had to really consider what his next step was going to be. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! 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 friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

However, it all turned out to be very simple. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He was quite happy to sign an exclusive contract. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. He was more than happy with the figures he was offered in percentage terms on the freight bills. It 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 Thomas 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 Taylor 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, Thomas stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. With the capabilities of this new cash flow, Thomas could actually expand Taylor Trucking Company further across the country and perhaps even go international into Canada. 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.

 

"

 

 

 

 

 

 

 

Invoice Factoring Company

 

Factor Funding Company

 

 

 

Watch Our Factoring Video For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So, this is not a loan?� asked Frederick Long, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�No, not exactly,� she said.Frederick was the owner of a small trucking company which had fallen on some hard times recently. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Lloyd. His company was called Watson Trucking, named after both of his grandfathers, Edwin and Dean. They had both been hardworking men, and had done a lot to make Frederick the same.Six months ago disaster struck Lloyd's business when two out of his fleet of fifteen trucks were taken off the road.

 

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 Lloyd'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 Frederick 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.Frederick 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. Her name was Joanne and she worked for a factoring company. Frederick had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.Joanne 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.Frederick agreed. It sounded good to him, almost too good.Joanne 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 actually thought I might end up losing my business.�Joanne smiled, agreeing. �We get that a lot. 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. We all need help sometimes. That�s what we�re here for.""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,� said Joanne with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Frederick completed the form, with Joanne offering advice as needed.

 

The completed profile gave Joanne and her company all the information they needed on Lloyd'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. Listening as Frederick filled out his form, Joanne was pretty sure he was a perfect candidate for factoring.Joanne took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Lloyd�s hand. He stood before they shook as well, and then smiled. Frederick walked Joanne 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 shut his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. But now, after speaking to Joanne and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.All those long, sleepless nights. The terrifying panic attacks that occurred regardless of where he was. Already he could feel all the stress start to drain away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was 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.His mind wandered back to the very beginning, when he first started his business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been successful. Home cooking in his hometown, and he had done very well.But it wasn't what he really wanted to do. He wasn't passionate about the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took half a year off, and in that time he thought to start Watson Trucking. And that's exactly what he did. 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 didn�t think he had it in him, to save this company. 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 didn�t know how to say quit.And now, because of factoring, he was sure he wouldn�t have to. Lloyd's eyes opened, he sat forward in his chair and turned on his computer. He had lots to do. He could be thankful later, for now, it was time to work.

 

"

 

 

 

More Trucking Factoring Company Story Articles

Why Truck Firms Make use of Factoring Companies.

 

As the manager of your own business enterprise, you may well be much more than knowledgeable already of the difficulty in making sure that cash flow concerns do not become a predicament down the line. Anyway, the most unfortunate thing that can possibly take place for your business is to find yourself dragged in a long and hard circumstance that leaves you forever trying to find the funds you really need on an continuing basis.

 

For pretty much any enterprise in this situation, the issue can come for waiting for work to clear up and actually be compensated into your account. Invoices, checks, and the like can take a long time to actually to be taken care of which can easily leave you with temporary capital difficulties. Luckily, there are solutions out there for companies to delve into-- and one of these is factoring firms.

 

Factoring companies will, in exchange for your accounts, supply you with the funds immediately in order that you do not have to worry about the delaying period which could make paying the bills and acquiring toolsmore challenging. With this type of arrangement, invoice factoring can come to be extraordinarily useful for several firms who need to avoid a money lure which they have found themselves in.

 

Since, depending upon the volume of the job, it can take up to 60 days for several enterprises to get compensated then it is necessary to take care of your own back and certainly not leave yourself funds short to pay the expenses. After all, how many companies have two months revenue just lying there to cover all their overheads until they earn?

 

This is primarily correct of trucking firms. They often deal with bunches of statements which means a considerable volume of collection time demands company owner themselves. Attempting to get paid out promptly can develop into an extraordinary difficulty and this is exactly why you make use of trucking factoring firms who are thrilled to help out truckers mainly.

 

As most of us realize, trucking is an remarkably massive market with lots of companies out there employing hundreds of vehicle drivers. The sad thing is, several of these drivers end up in cash issues simply because they are still anticipating work from six weeks back to actually compensate them. When this is the case for a trucking agency, turning to factoring providers for solutions could be the most recommended alternative left.

 

This implies that a trucking organization can compensate the salaries of the workers, keep all the vehicles loaded with gas and continue to surmount, rise and expand without consistently waiting for the finances which is taking too prolonged to come in. Trucking Firms operating without a factoring system implemented are leaving themselves at substantial risk, as rivals cash out quickly and go on to grow.

 

There's genuinely nothing at all to be distressed about when it comes to employing a Factoring firm-- they commonly are not like a bank or a person who is going to leave you with a substantial heap of liability to repay. You give them genuine invoices from output you have already finished , you are merely quickening the repayment process.

 

In the Usa, where trucking firms prosper, factoring agencies are not considered borrowing in any capacity. This confidential contract then makes it possible for both parties to benefit and enjoy a worry-free future-- it provides the factoring agency a secured resource of cash flow to include in the list and it offers the trucking business the needed money that they worked hard to earn.

 

The trucking enterprise gives their statements to the factoring establishment. The trucking factoring firm then receive the installment payments from the trucking company's customers. Factoring has beenaround for centuries and has been used for long times by several various sectors-- but none much 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 partner with, it indicates that you are obtaining the money today and can actually begin setting the resources to operate.

 

Once and for all, an IOU or an invoice is certainly not going to pay for overheads, is it? For trucking firms when the resources can be great one day and gone the next, it is up to the vehicle drivers to work sensibly and to ascertain they are leaving themselves with a significant measure of time and finance to get through the week till they are compensated once again.

 

So the next period your trucking business is bearing some momentary cash flow issues and you are devoting excessive time chasing slowly paying customers, why not begin looking at utilizing a factoring businesses as a method to get your finances and give yourself a more convenient future in the eyes of your trucking team and your bank balance?

 

 

 

 

 

 

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Traditional Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. 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. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies do not offer loans, and you do not go into debt when you get money from a Trucking Factoring company. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of 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?

 

Not every business can benefit from Trucking Factoring account financing because you have to have a business with accounts receivable, however there are many benefits for those who can access this type of finance.

 

1. You will not Incur 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. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. No Collateral Required. Another 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. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

3. You'll receive the money faster. 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.You receive interest up-front. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you do not have to continue to pay interest as they take it right off the top, deducting it from the total amount of accounts receivable. So not only are you relieved of those monthly loan payments, but you also do not have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

As you can see 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 good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

In addition, since the Trucking Factoring company evaluates the credit quality of your customers prior to purchasing the accounts receivable you gain valuable information into which customers are likely to pay and which ones are not so likely to pay.While a Trucking Factoring company is not the only way for your business to obtain the money it needs to keep growing, it does offer a type of financing well worth considering.

 

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Factoring Companies by City

New York City

Los Angeles


Chicago


Houston


Philadelphia


Phoenix


San Antonio


San Diego


Dallas


San Jose

Austin


Jacksonville


Indianapolis


San Francisco


Columbus


Fort Worth


Charlotte


Detroit


El Paso


Memphis

 

 

Boston


Seattle


Denver


Washington DC


Nashville-Davidson


Baltimore


Louisville/Jefferson


Portland


Oklahoma City


Milwaukee


Las Vegas


Albuquerque


Tucson


Fresno


Sacramento


Long Beach


Kansas City


Mesa


Virginia Beach


Atlanta

 

Colorado Springs


Raleigh


Omaha


Miami


Oakland


Tulsa


Minneapolis


Cleveland


Wichita


Arlington