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You Can Laugh at Money Worries - if You Follow This Simple Plan - Our Freight Factoring Companies 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.

 

 

 

 

 

 

 

Get Rid of Those Receivables! - Select A Freight�Factoring Company  Instead Of A Typical Bank Financing

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

At one time or another, every company, even successful ones, have actually experienced bad cash flow.

Cash flow does not have to be an issue any ever more. Do not be deceived -- banks are not the only places you can get funding. Other solutions are offered and you do not have to borrow. Exactly what is trucking factoring ? One option is called trucking factoring. Trucking Factoring is the process of offering accounts receivable to an investor rather than waiting to gather the money from the customer. Oh, the Irony- Truck factoring has a paradoxical difference: It is the monetary foundation of numerous of America's most successful businesses. Why is this paradoxical ? Because truck factoring is not instructed in business colleges, is rarely discussed in business strategies and is relatively unidentified to the majority of most of American company individuals.

Yet it is a monetary process that frees billions of dollars every year, enabling countless companies to grow and succeed. Truck Factoring has been around for thousands of years. Trucking Factoring Companies 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 financial obligation your client has agreed 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 form of factoring in their retail transactions. Utilizing the purest definition of the word, these big consumer finance business are truly simply large Receivable Loan Funding Businesses of customer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The store makes money almost immediately, even though you do not pay up until you are ready.

For this service, the credit card business charges Sears a fee (typical common normal charges vary from 2 to 4 percent of the sale). The Benefits Invoice Factoring can offer many advantages to cash-hungry business. Instead of waiting 30, 60, 90 days or longer for payment on an item that has actually already 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 simply a few of the company needs that can be satisfied with instant  money.

Invoice Factoring offers the ways for a manufacturer to renew stock and make more items to offer: There is no longer a need to wait for earlier sales to be paid. Receivable Loan Financing is not just a money management device for manufacturers: Practically any kind business can take advantage of Invoice Factoring. Generally, a business that extends credit will have 10 to 20 percent of its yearly sales bound in invoices 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 expense or today s payroll with a customer s invoice, but you can sell that invoice for the money to satisfy those obligations. Using truck factoring companies is a quick and easy procedure. The factor purchases the invoice at a price cut, typically a few portion points less than the face value of the invoice.

 

 

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The American Transportation Organization
mentions that there are about
205,000 truck drivers with transportation
firms and
276,000 private companies trucking
companies licensed to
run in the U.S. that transferred,
according to their latest data of millions
items, materials and
standard materials .
There are a number of usual
carriers either going solo or in
teams on our country
highways transporting these
vital products to our
shops, factories and shipping ports.

Furthermore freight invoice factoring
businesses benefit
several of them and offer their
receivable loan facilities
nationwidecounting
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

 

"

Louisville's early economy first developed through the shipping and cargo industries. Its strategic location at the Falls of the Ohio, as well as its unique position in the central United States (within one day's road travel to 60% of the cities in the continental U.S.) make it an ideal location for the transfer of cargo along its route to other destinations. The Louisville and Portland Canal and the Louisville and Nashville Railroad were important links in water and rail transportation. Louisville's importance to the shipping industry continues today with the presence of the Worldport global air-freight hub for at Louisville International Airport. Louisville's location at the crossroads of three major Interstate highways (I-64, I-65 and I-71) also contributes to its modern-day strategic importance to the shipping and cargo industry. As of 2003, Louisville ranks as the 7th largest inland port in the United States.Recently, Louisville has emerged as a major center for the health care and medical sciences industries. Louisville has been central to advancements in heart and hand surgery as well as cancer treatment. Some of the earliest artificial heart transplants were conducted in Louisville. Louisville's thriving downtown medical research campus includes a new $88 million rehabilitation center and a health sciences research and commercialization park, that in partnership with the University of Louisville, has lured nearly 70 top scientists and researchers. Louisville is also home to , one of the nation's largest health insurance companies.Louisville is home to nearly two dozen major corporations and organizations: . Other distilleries and related businesses can also be found in neighboring cities in Kentucky, such as Bardstown, Clermont, Lawrenceburg and Loretto.Louisville also prides itself in its large assortment of small, independent businesses and restaurants, some of which have become known for their ingenuity and creativity. In 1926 the Brown Hotel became the home of the Hot Brown ""sandwich"". A few blocks away, the Seelbach Hotel, which F. Scott Fitzgerald references in The Great Gatsby, is also famous for a secret back room where Al Capone would regularly meet with associates during the Prohibition era. The drink the Old Fashioned was invented in Louisville's Pendennis Club.Several major motion pictures have also been filmed in or near Louisville, .

 

"

 

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

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

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

 

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.

 

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

 

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.

 

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

 

 

"

Since the mid 1980s Kim Truck & Haul have been successfully running their freight business. 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 Kim Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. Cash was flowing and times were good for all.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed to a crawl

 

. Worse still, it was noticed by Kim 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 Kim, Jamie Graves, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The numbers of clients who owed him back debt were growing.He had already been to the administrators to ask what the actual problem was. Were they doing something wrong or different when it came to reaching out to delinquent accounts? By his bookkeepers records, this wasn't the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. 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 Kim hadn't gone elsewhere. They had just gone home.To Jamie Graves the situation looked desperate. There were goods to ship, employees to pay, trucks to repair and maintain, and continuous overheads that were very extensive when compared to the funds (or lack of) that were incoming. In the evenings he would discuss his concerns with his wife, Lillie, and still find no relief from the worry and frustration.

 

""I have a bad feeling, Lin,"" he'd sadly say to his wife.""What could you do differently?"" she would say.Jamie would stare off into the distance, and then slowly close his eyes. He could see the fleet of trucks he had purchased over the years. He could see them on the road, delivering good to all his loyal customers. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. Why couldn�t he work out how to resolve this financial problem with his business?""I know what it is,"" said Jamie. ""For way too long I've been relying solely on profits received from invoices. I've let too many of our customers go too long without paying on their bills."" Lillie 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'.""Jamie knew very well that Lillie was only trying to help, but his responsibilities weighed heavily on his shoulders and he knew he had better do something soon to resolve this situation.The following day Jamie walked into his office with a spring in his step, determined to call each and every client who owed money to Kim Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Jamie 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. A waste of time - a waste of money - he had the best intentions, but all the while Jamie was realising just how much trouble he was in.After a half day of contacting debtors in vain - they dodged his calls or promised to call back at worst or made minimal interest-only payments at best - he was about to throw in the towel when his secretary Sueerley knocked at his door.

 

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

 

""Sure thing Sue, come on in."" Jamie relaxed back into his chair and looked up at Sueerley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Jamie."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard of factoring?"" she asked.""It does sound vaguely familiar. What is factoring""? he asked.""Well,"" she began, ""It�s actually quite simple really.

 

So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Immediately?"" Jamie interrupted.""Yes, immediately,"" she continued, ""it is actually very simple. We start by having a professional account manager review our figures and help us set up a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It provides a very broad view.""I see,� Jamie said. �And then what?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

This company tells us what the cost will be to purchase factoring for our accounts receivable. We come to an agreement and the funding starts pouring out.�Jamie was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Sue,"" he said.""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. They appear to be very flexible, Jamie,"" 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. 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. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" Jamie said.Jamie took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Precisely�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Jamie took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Kim Truck & Haul were professional resources of the company, but they were also long-standing friends. Jamie wasn't prepared to lose these relationships just because they were having financial issues at the moment. Jamie 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.""Well, let me think about this tonight Sue, thank you."" Sue stood up and left Jamie's office, with the nice feeling of knowing that she may just have solved a very serious problem.Jamie 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 Kim Truck & Haul with? Running his pencil down the sheet, he noted that the freight factoring company could assist with fuel costs, fuel advances, and fuel discount cards. In fact, Kim could receive up to fifty-percent cash advances upon load pick-ups. Jamie was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""I must tell Bill the good news,"" muttered Jamie to himself.Jamie's son-in-law, Bill, loved the idea behind Kim 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. Jamie knew then what struggles Bill would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Kim was hurting, a little guy like Bill was about to catch his death. Perhaps the antidote to these problems was in freight factoring, and they were about 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, Jamie found himself beginning to dig his way out of the hole his delinquent account holders 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. Jamie recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. If Jamie hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

"

Louisville's early economy first developed through the shipping and cargo industries. Its strategic location at the Falls of the Ohio, as well as its unique position in the central United States (within one day's road travel to 60% of the cities in the continental U.S.) make it an ideal location for the transfer of cargo along its route to other destinations. The Louisville and Portland Canal and the Louisville and Nashville Railroad were important links in water and rail transportation. Louisville's importance to the shipping industry continues today with the presence of the Worldport global air-freight hub for at Louisville International Airport. Louisville's location at the crossroads of three major Interstate highways (I-64, I-65 and I-71) also contributes to its modern-day strategic importance to the shipping and cargo industry. As of 2003, Louisville ranks as the 7th largest inland port in the United States.Recently, Louisville has emerged as a major center for the health care and medical sciences industries. Louisville has been central to advancements in heart and hand surgery as well as cancer treatment. Some of the earliest artificial heart transplants were conducted in Louisville. Louisville's thriving downtown medical research campus includes a new $88 million rehabilitation center and a health sciences research and commercialization park, that in partnership with the University of Louisville, has lured nearly 70 top scientists and researchers. Louisville is also home to , one of the nation's largest health insurance companies.Louisville is home to nearly two dozen major corporations and organizations: . Other distilleries and related businesses can also be found in neighboring cities in Kentucky, such as Bardstown, Clermont, Lawrenceburg and Loretto.Louisville also prides itself in its large assortment of small, independent businesses and restaurants, some of which have become known for their ingenuity and creativity. In 1926 the Brown Hotel became the home of the Hot Brown ""sandwich"". A few blocks away, the Seelbach Hotel, which F. Scott Fitzgerald references in The Great Gatsby, is also famous for a secret back room where Al Capone would regularly meet with associates during the Prohibition era. The drink the Old Fashioned was invented in Louisville's Pendennis Club.Several major motion pictures have also been filmed in or near Louisville, .

 

"

 

More Trucking Factoring Companies Story Articles

"

Factoring in the Future of a Trucking Business: A Story Allen Ellis let the phone ring on his desk. He let his morning coffee cool and left his cigarette to ash itself in the tray, because he is trying to make the biggest decision ever for his trucking company. Ellis 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.

 

Allen�s father had started as an owner-operator and had grown Ellis Trucking Company into a fifteen trailer fleet over forty years. There had been some hard times when it seemed everything was going to go under and even Allen�s mother strapped herself into a cab 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 Allen's hands and he needed to ensure that this business would be left in great shape for his sons.

 

There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. He had employees to pay. They had families and household bills too. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. He knew that turning down these requests made Ellis 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. Allen chuckled, thinking about his father. 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?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). He knew his father's days were long gone and new technology was very important for the business, like having Qualcomm to reduce communication time for bills of lading.

 

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

 

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 a lot like ninth grade algebra which just didn�t feel like it belonged as part of 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 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.

 

Allen had to really consider what his next step was going to be. Allen had heard that there were companies that charged for same day money transfers and would only advance a percentage of the money owed to your company while holding the rest in a private account if they didn�t get their bill payment within 60 or so 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 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. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. 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. 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 Allen it was quite a relief to be dealing with the factoring company. They were more personable than those loan managers at the bank. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies were not interested in his credit nor the financial problems his father had experienced in the past. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Allen because he and his father had created a very strong and loyal list of clientele over the years. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients would not have any problems, nor would they think poorly of Ellis 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.

 

Allen stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. 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, Allen could actually expand Ellis 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.

 

"

 

 

 

 

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Trucking Factoring  Articles

"

�So It is not a loan?� Leroy Riley asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Leroy smiled at him, shaking her head.�Not quite,� she stated.Leroy was the owner of a small trucking company which had fallen on some hard times recently. Trucking could be a profitable business, and for a little under a decade, it had been for Gary. He named his business Fields Trucking, named after Terrance and Darrell, his two grandfathers. Both of these men had been very hardworking and had set a great example for Gary.Disaster had struck half a year ago, when two trucks in Gary�s fifteen truck fleet went down. One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. The financial security of Gary'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 Leroy 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. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Leroy wasn�t a bad owner, and he hadn�t messed up. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.And that's why he found himself across the desk from this woman. Her name was April and she worked for a factoring company. Leroy 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.April explained. �It�s not a loan, we purchase your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. That way we�re protected from a complete loss, but you�re protected from the outrageous fees you would find in a loan from the bank.Leroy agreed. It sounded good to him, almost too good.April laughed. �I'm not sure that you believe me,� she said.�Oh no, I do: it just sounds too good to be true. I thought I was going to lose my company.�April smiled, agreeing. �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 April with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Leroy completed the form, with April offering advice as needed.

 

The profile filled April and her company in on Gary�s company, and would help them determine if he was suitable for factoring. Unfortunately, not all companies are. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. As Leroy completed his form, April listened to his story and she felt quite sure he would be the ideal candidate for Factoring.April took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Gary�s hand. He also stood up, and they smiled at each other. Leroy walked April 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. Talking to April though, learning about factoring, it felt like a weight had been lifted from his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.All those long, sleepless nights. The terrifying panic attacks that occurred regardless of where he was. He could feel it all fading away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was there, he was on the right path, and he was working to make things right.Leroy 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 it wasn't what he really wanted to do. 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 Fields Trucking. And that's exactly what he did. For the second time in his short life he created a company from the ground up. The business had been an instant success.And then the trucks went down, and his success looked to be in flux. He was 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 it seemed as though he would not have to - all because of Factoring. Leroy opened his eyes, sat forward, turned his computer on. He had things to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

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More Trucking Factoring Company Story Articles

The key reasons why Truck Companies Employ Factoring Firms.

 

As the owner of your own company, you may perhaps be much more than conscious already of the hardship in making certain that capital concerns do not become a predicament down the line. Anyway, the most disappointing thing that can possibly occur for your enterprise is to find yourself swept up in a long and difficult condition that leaves you forever trying to find the resources you need on an recurring basis.

 

For pretty much any enterprise in this circumstance, the complication can come for waiting for work to lapse and actually be compensated into your statement. Statements, checks, and the like can take some time to actually to be taken care of which may leave you with momentary capital problems. Gratefully, there are solutions out there for companies to look into-- and among these is factoring providers.

 

Factoring companies will, in exchange for your statements, grant you with the cash right away in order that you do not need to stress over the waiting duration that could make paying out the bills and acquiring materialsmore hard. With this type of system, invoice factoring can come to be exceptionally useful for several establishments who ought to get out of a cash lure which they have discovered themselves in.

 

Due to the fact that, relying on the volume of the work, it can take up to 60 days for some establishments to get paid then it is important to cover up your own back and definitely not leave yourself resources short to settle the bills. After all, how many firms have two months profits just lying there to deal with all their overheads until they make money?

 

This is primarily correct of trucking firms. They have the tendency to deal with good deals of accounts which means a serious amount of collection time concerns company owner themselves. Trying to get compensated promptly can turn into an amazing inconvenience and this is why you make use of truck factoring agencies who are thrilled to help out truckers particularly.

 

As most of us know, trucking is an unbelievably enormous field with many firms out there employing hundreds of vehicle drivers. Sadly, several of these drivers end up in finances difficulties given that they are still waiting on work from six weeks ago to actually pay them. When this is the case for a trucking organization, consulting factoring companies for support could be the most ideal alternative left.

 

This means that a trucking business can pay out the salaries of the workers, keep all the vehicles loaded with gas and continue to go up, thrive and expand without consistently waiting for the income which is taking too lengthy to come in. Trucking Firms functioning without a factoring system applied are leaving themselves at substantial risk, as competitions cash out promptly and proceed to develop.

 

There's absolutely almost nothing to be stressed about when it comes to working with a Factoring establishment-- they typically are not like a financial institution or somebody who is going to leave you with a significant pile of personal debt to pay back. You give them authentic invoices from output you have already finished , you are simply facilitating the repayment process.

 

In the United states of America, where trucking enterprises flourish, factoring companies are not considered getting a loan in any capacity. This confidential settlement then permits both parties to benefit and take joy in a good future-- it provides the factoring firm a guaranteed resource of money to add to the list and it supplies the trucking business the required funds that they worked hard to obtain.

 

The trucking company presents their invoices to the factoring establishment. The trucking factoring agency then receive the installment payments from the trucking company's customers. Factoring has beenaround for centuries and has been utilized for decades by plenty of varying fields-- but none more so than truckers. While you could lose out on a small part of the money, something like 1-3 % depending upon who you work with, it indicates that you are obtaining the finances today and can actually start off putting the money to operate.

 

Anyway, an IOU or an invoice is definitely not going to cover spendings, is it? For trucking companies when the income can be good one day and gone the next, it is up to the vehicle drivers to work prudently and to ensure they are leaving themselves with a notable measure of time and money to get through the week till they are paid again.

 

So the next period your trucking business is enduring some temporary cash flow troubles and you are investing way too much time chasing sluggish paying clients, why not begin looking at using a factoring businesses as a manner to get your finances and give yourself a more worry-free future in the eyes of your trucking personnel and your bank balance?

 

 

 

 

 

 

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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. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Once the loan is paid off, you can then apply for another loan if the need arises.

 

What Are 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. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to sell. Once you have set up Trucking Factoring account it continues as long as you wish it too and the amount of money available to you even can grow as your business grows, giving you the ready cash you need to meet your own obligations.

 

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. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. 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. There's no collateral required. Another great benefit of using the services of a Trucking Factoring company instead of a bank loan is that there is no collateral required for the Trucking Factoring company, because the Trucking Factoring company is buying your accounts receivables. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

3. Receive Your 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.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 you do not have to worry about monthly loan repayments, and you do not have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The 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. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

Another bonus is that, because the Trucking Factoring company has evaluated the quality of your customers' credit before buying the accounts receivable, you learn valuable information regarding your customers, like which ones are likely to pay, and which ones are less likely to pay.A Trucking Factoring company is not the only method of gaining access to finance for the running and growing of your business, however it does offer a financing option well worth considering.

 

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