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Is The Life of a Receivable Worth $1 to You - Our Freight Invoice Factoring Companies Can Give
Your Trucking Company The Cash Your Company Needs

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Medium-Size freight brokerage companies, particularly those who have actually not been in existence for very long, will often find it difficult to protect a loan. Banks are typically hesitant to lend cash to companies that do not have a lot of income and possessions. They also desire evidence of the practicality of a company and hence need that the majority of operations, especially little ones, be in business for a certain quantity of time prior to they are willing to hand over any money. Since of this, a small business frequently has a couple of money generating choices when needs emerge. One choice readily available, however typically ignored, is factoring. This is an outstanding method for a small business to get money.

 

 

 

 

 

 

 

Take This One Minute Test - Choose A Freight�Factoring Company  Instead Of A Regular Bank Funding

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

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

Money flow does not have to be a problem any ever more. Do not be fooled -- banks are not the only places you can get financing. Other options are available and you do not have to borrow. What is trucking factoring ? One solution is called truck factoring. Trucking Factoring is the procedure of offering invoices to an investor instead of waiting to gather the cash from the client. Oh, the Irony- Truck factoring has an ironic distinction: It is the financial backbone of numerous of America's most successful companies. Why is this ironic ? Since truck factoring is not instructed in business colleges, is rarely discussed in company plans and is relatively unknown to the majority of most of American company individuals.

Yet it is a financial procedure that frees billions of dollars every year, allowing countless companies to grow and prosper. Factoring has been around for thousands of years. Commercial Factoring Companies are investors who pay money for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your customer has actually agreed pay in the near future. Factoring Principals--Although factoring offers solely with business-to-business transactions, a large percentage of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a type of factoring in their retail transactions. Using the purest meaning of the word, these large consumer finance companies are truly simply large Receivable Loan Funding Businesses of customer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The store gets paid practically immediately, although you do not pay up until you are ready.

For this service, the charge card company charges Sears a charge (typical common normal fees vary from two to four percent of the sale). The Benefits Receivable Funding can offer numerous advantages to cash-hungry companies. Instead of waiting 30, 60, 90 days or longer for payment on a product that has already been provided, a business can factor (sell) its receivables for money at a small discount off the dollar value of the invoice. Payroll, marketing 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 producer to renew stock and make more items to sell: There is no longer a need to wait for earlier sales to be paid. FACTORING is not just a cash management device for manufacturers: Practically any kind business can benefit from Factoring. Generally, a company that extends credit will have 10 to 20 percent of its yearly sales tied up 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 customer s invoice, but you can offer that invoice for the money to meet those responsibilities. Using trucking factoring companies is a quick and easy procedure. The factoring company buys the invoice at a price cut, typically a few percentage points less than the stated value of the invoice.

 

 

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The United states Truck Association
specifies that there around
195,000 employees with truck
firms and
276,000 personal providers trucking
firms licensed to
operate in the United States that transported,
according to their newest listings of millions of
items, supplies and
basic products .
There are a number of common
carriers either going solo or in
groups on our country
roadways transporting these
important items to our
stores, manufacturingplants and harbors.

Plus freight invoice factoring
firms aid
numerous of them and offer their
receivable loan services
countrywidecomprising
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

 

Irving is a city located in the U.S. state of Texas within Dallas County. According to a 2012 estimate from the U.S. Census Bureau, the city population was 225,427 making it the thirteenth most populous city in Texas. Irving is part of the Dallas�Plano�Irving metropolitan division of the Dallas�Fort Worth�Arlington metropolitan area, designated by the U.S. Census Bureau and colloquially referred to as the Dallas/Fort Worth Metroplex.Irving includes the Las Colinas community, one of the first master-planned developments in the United States and once the largest mixed-use development in the Southwest with a land area of more than 12,000 acres (4,856 ha). Las Colinas is home to the Mustangs at Las Colinas, which is the largest equestrian sculpture in the world, as well as many Fortune 500 companies, such as Mobil. In January 2011 the city completed the Irving Convention Center at Las Colinas and plans to develop the area into a mixed-use complex including a special entertainment district.Part of Dallas/Fort Worth International Airport, which serves the cities of Dallas and Fort Worth, is inside the city limits of Irving.Several large businesses have headquarters in Irving,

 

 

Watch Our Freight Factoring YouTube Videos For More Information

 

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

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

If you're like most drivers, you're looking for a better company in trucking that might be offering the best jobs in terms of pay, freight, and hometime ' not to mention benefits or a sign on bonus. We've got all of our clients listed based on the states where they're hiring, so you can quickly find the best job in your home state. You'll see the very best nationwide trucking companies that have positions available.

 

Click below to find Trucking Companies in the United States:

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

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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

 

 

"

Turner 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, Turner was a top rated accounts receivable mastermind of the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. Times were great for everyone, and the cash was flowing.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

 

. And worse yet, Turner had noticed during the early part of 2008 that though the bulk of their clients were always on time with payments, the few late-bloomers there were, had seemingly started to spread this illness. Spring changed to summer, summer changed to fall, and the CEO of Turner, Harold Alvarez, 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. 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 Turner hadn't gone elsewhere. The had just gone!.This current state-of-affairs was causing Harold Alvarez to have some very restless nights. Harold was very concerned, because there were constant overheads, goods to ship, employees to pay, and trucks which needed to be maintained, but there just wasn't the money coming back into the business. In the evenings he would discuss his concerns with his wife, Marie, and still find no relief from the worry and frustration.

 

""Lin, I have a really bad feeling,"" he would say with deep woe.""Well, what do you think it is?"" she would say.Harold would stare off for a moment and then close eyes. He could see the fleet of trucks he had purchased over the years. He could see them on the road, delivering good to all his loyal customers. 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 think I know what it could be,"" Harold said. ""I've relied too long on the profits I receive from invoices alone. For too long I've been allowing our clients to let their accounts become overdue."" Linda could only grab her husband's hand and look at him lovingly, ""it is a hard economy. It might be awhile until things get settled up.

 

""Harold 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 Harold strolled into his office and was determined to sit down and make every phone call to every client who had owed Turner money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Harold 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, Harold knew that he was in trouble.

 

Poor Harold spent the whole morning trying in vain to contact his debtors: they promised to call back, dodged his calls, or made small interest-only payments. He was beginning to feel quite despaired when his secretary knocked on his door.

 

""Harold, can I have a word?"" she queried, standing in the doorway.

 

""Sure thing Tina, come on in."" Harold relaxed back into his chair and looked up at Tinaerley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Harold."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard the word factoring?"" she asked.""It sounds 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?"" Harold 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. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.""I see,� Harold said. �And then what?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. There�s a lot of flexibility depending on the business volume and credit histories. This company tells us what the cost will be to purchase factoring for our accounts receivable. The funding commences once we�ve arrived at an agreement.�Harold was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Tina,"" he said.""Yes, I know; that's exactly what I thought at the beginning. 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, Harold,"" 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. Apparently they can figure this all out in two to four days.

 

""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. 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,"" said Harold.Harold took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Harold took a moment to think about this solution, and agreed with his secretary. The clients who owed them money were long standing friends and professional resources of Turner. They did not want to throw away these relationships because they were having trouble paying their bills now. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. That unknown amount of time could create a disaster situation for both of them if he wasn't careful in how these debtors were handled. He did not want to lose business but he also did not want to lose any more money.""Let me go over this tonight Tina, and thankyou."" Tina nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Harold keep the shirt on his back, and possibly hers too.Harold sat behind his desk and looked over the details Tina had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Turner 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. Harold was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Harold 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 Jerome the good news,"" Harold muttered to himself.Harold's son-in-law, Jerome, loved the idea behind Turner and highly respected his father-in-law for having such great business sense, that two years ago he got his capital together and started his own transportation company. At that time Harold knew the struggles Jerome would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Turner was hurting, a little guy like Jerome 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, Harold 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 took that time and refocused effort to offering competitive prices in new territories. Harold recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. If Harold hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

Irving is a city located in the U.S. state of Texas within Dallas County. According to a 2012 estimate from the U.S. Census Bureau, the city population was 225,427 making it the thirteenth most populous city in Texas. Irving is part of the Dallas�Plano�Irving metropolitan division of the Dallas�Fort Worth�Arlington metropolitan area, designated by the U.S. Census Bureau and colloquially referred to as the Dallas/Fort Worth Metroplex.Irving includes the Las Colinas community, one of the first master-planned developments in the United States and once the largest mixed-use development in the Southwest with a land area of more than 12,000 acres (4,856 ha). Las Colinas is home to the Mustangs at Las Colinas, which is the largest equestrian sculpture in the world, as well as many Fortune 500 companies, such as Mobil. In January 2011 the city completed the Irving Convention Center at Las Colinas and plans to develop the area into a mixed-use complex including a special entertainment district.Part of Dallas/Fort Worth International Airport, which serves the cities of Dallas and Fort Worth, is inside the city limits of Irving.Several large businesses have headquarters in Irving,

 

 

More Trucking Factoring Companies Story Articles

Factoring in the Future of a Trucking Business: A Story The phone was ringing on his desk, and Alexander Reyes just sat there letting it ring. His morning coffee cooled and his cigarette smoked away in the tray: Alexander is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Reyes 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.

 

Alexander�s father had started as an owner-operator and had grown Reyes Trucking Company into a fifteen trailer fleet over forty years. Yes, they had survived some very difficult times when it appeared like they might go under, and even Alexander'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 Alexander�s hands and he wanted to live to see it in better shape for his sons.

 

To move Reyes Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. He had employees to pay. They had families and household bills too. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. He knew that turning down these requests made Reyes 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. Alexander chuckled, thinking about his father. His father had been against placing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� 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.

 

Alexander knew he was right in his forward thinking. What would be the next step for Reyes Trucking? More importantly, how could he afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

But was factoring the answer? If he was being honest, he did not really understand how it all worked. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. Without this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Alexander had to really consider what his next step was going to be. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His 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?

 

But it turned out to be quite easy. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He didn�t mind signing an exclusive contract. 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. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. Many companies offered a non-recourse factoring program that suited him just fine. 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 Alexander 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 wouldn�t think poorly of Reyes Trucking and the factoring companies appeared capable of handling the accounts receivable in the same polite manner that his father had used over the years.

 

Alexander 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, Alexander could actually expand Reyes 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.

 

 

 

Watch Our Factoring Video For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� asked Enrique Owens, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she said.Enrique 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 Zachary. His company was called Miles Trucking, named after both of his grandfathers, Karl and Everett. Both of these men had been very hardworking and had set a great example for Zachary.Six months ago disaster struck Zachary's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. Enrique depended on his full fleet, and missing two trucks was devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Enrique had on hand.A big problem a lot of trucking companies came across was how bills were paid in the industry. You could go a month or more before bills were completely paid off. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Enrique 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.That�s where the woman across the desk came in. Her name was Bonnie and she worked for a factoring company. Enrique 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.She sat there now, and explained. �it is really not a loan at all: we actually buy your accounts receivable. we are not giving you finance to be repaid later: we are purchasing something from you, and when you can you can buy it back. 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.Enrique agreed. It sounded perfect - perhaps too good?.The woman laughed. �You look like you don�t believe me,� she chuckled.�No, I do, I just think it sounds a bit too good to be true. I thought I was going to lose my company.�Bonnie smiled, agreeing. �We get that a lot. Listen, I�d hate to see you lose your company. You work hard, you�ve put everything you can into it. We all need help sometimes. That's why we do what we do.""Well, I'm very grateful that you came to see me today.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Bonnie with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Enrique completed the form, with Bonnie offering advice as needed.

 

The profile filled Bonnie and her company in on Zachary�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. Listening as Enrique filled out his form, Bonnie was pretty sure he was a perfect candidate for factoring.When the form was done Bonnie took it and slid it into her briefcase. She then stood, reached across the desk and shook Zachary�s hand. He stood before they shook as well, and then smiled. They said their goodbyes and Enrique walked her to the door, and then returned to his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He leaned back and closed his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. Talking to Bonnie though, learning about factoring, it felt like a weight had been lifted from his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.All those long, sleepless nights. The sudden panic attacks, not matter where he was. Already he could feel all the stress start to drain away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. 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.Enrique couldn�t help but think back to when he had first started the business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been successful. Offering home cooking in his own hometown, his business had really prospered.But he had gotten bored. He wasn't passionate about the food industry. He thought long and hard, and then he decided to sell the restaurant. He took six months off, and during that time he decided to create Miles Trucking. So he did it. Once again he built a company from the ground up. He had been successful.And then the trucks went down, and his success looked to be in flux. He was nearing fifty. He was concerned that he just did not have the energy left to try and save the business. But he couldn�t give up. The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He didn�t know how to say quit.And now it seemed as though he would not have to - all because of Factoring. Zachary's eyes opened, he sat forward in his chair and turned on his computer. He had things to do. He could be thankful later, for now, it was time to work.

 

"

 

 

 

More Trucking Factoring Company Story Articles

Precisely why Truck Establishments Utilize Factoring Companies.

 

As the operator of your own company, you may well be much more than conscious already of the challenge in making sure that capital concerns do not become a predicament down the line. Anyway, the most awful thing that can possibly develop for your establishment is to find yourself dragged in a long and challenging predicament that leaves you forever looking for the resources you require on an ongoing manner.

 

For virtually any company in this case, the challenge can come for waiting for work to lapse and actually be repaid into your statement. Invoices, checks, and the like could take some time to actually to be taken care of which can leave you with short-term available resources dilemmas. Thankfully, there are solutions out there for companies to explore-- and one of these is factoring providers.

 

Factoring firms will, in substitution for your statements, supply you with the finances immediately so that you do not need to stress over the delaying phase which could make paying out the expenses and acquiring materialsmore tough. With this style of system, invoice factoring can end up being extremely helpful for numerous companies who have to get out of a money ploy which they have discovered themselves in.

 

Simply because, basing on the volume of the task, it can take up to 60 days for a number of establishments to get compensated then it is significant to cover your own back and definitely not leave yourself money short to settle the expenses. After all, how many establishments have two months income just occupying there to pay for all their overheads until they make money?

 

This is especially correct of truck companies. They often manage good deals of statements which means a significant quantity of collection time entails company owner themselves. Attempting to get paid out promptly can become an incredible difficulty and this is exactly why you use trucking factoring providers who are pleased to help out truckers particularly.

 

As most of us understand, trucking is an extremely big business with plenty of firms out there employing hundreds of operators. Unfortunately, many of these drivers land up in finances dilemmas due to the fact that they are still awaiting work from six weeks ago to actually pay them. When this is the scenario for a trucking organization, resorting to factoring agencies for support could be the most ideal choice left.

 

This implies that a truck business can compensate the paychecks of the people, keep all the trucks filled with fuel and continue to scale, evolve and expand without always waiting for the money which is taking too long to come in. Trucking Establishments operating without a factoring system established are leaving themselves at significant risk, as competitors cash out quickly and continue to develop.

 

There's absolutely nothing to be troubled about when it comes to employing a Factoring firm-- they usually are not like a bank or a person who is going to leave you with a significant mound of debt to repay. You give them authentic invoices from output you have already wrapped up , you are just speeding up the repayment process.

 

In the United states of America, where trucking enterprises prosper, factoring providers are not considered taking on loan in any capacity. This confidential settlement then makes it possible for both parties to benefit and enjoy a comfortable future-- it provides the factoring business a warranted resource of cash flow to put into the list and it gives the trucking firm the needed cash that they worked hard to acquire.

 

The trucking establishment bestows their statements to the factoring establishment. The trucking factoring provider then collect 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 exceeding so than truckers. While you may miss out on a small part of the money, something like 1-3 % depending upon who you team up with, it signifies that you are getting the cash today and can actually begin putting the funds to operate.

 

Anyway, an IOU or an invoice is definitely not going to finance overheads, is it? For trucking firms when the hard earned cash can be excellent one day and gone the next, it is up to the drivers to work sensibly and to guarantee they are leaving themselves with a considerable measure of time and finance to get through the week up until they are handed over once again.

 

So the next occasion your trucking enterprise is bearing some short-term cash flow problems and you are spending too much time chasing inactive paying clients, why not begin looking into making use of a factoring companies as a means to get your cash and give yourself a more worry-free future in the eyes of your trucking personnel and your bank difference?

 

 

 

 

 

 

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Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. These loans can be a life-saver, but they're not always available to every business. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

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. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have 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 money you can receive is based on the amount of money you have earned and the accounts receivable you are willing 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

 

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. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. 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. No Collateral Required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This means that it is easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.

 

3. You'll receive the money faster. Using a Trucking Factoring company means that you'll get the finance quicker. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. 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. 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. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very efficient at debt collecting, and this frees up your valuable time to devote to running your company.

 

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

 

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