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How to Swim with The Banks without Being Eaten Alive - Our Receivable Factoring Company Can Provide
Your Freight Company The Money Your Company Needs

businessfinanceresource.org

factoring trucking receivables

trucking invoice factoring companies

freight bill factoring companies

factoring truck loads

Truck Factoring is advantageous for numerous reasons. It permits a trucking business to raise cash without acquiring new financial obligation. While financial obligation is sometimes essential, many trucking companies would choose to raise cash without borrowing money. Debt is risky, and when it can not be paid back, assets can be repossessed. If the debt is large enough, it might even force a freight brokerage out of business.

 

 

 

 

 

 

 

How To Burn Off Receivables, Hour-by-Hour - Choose An Accounts Receivable Factoring Company Instead Of A Typical Bank Funding

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

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

Cash flow does not have to be a problem any ever more. Do not be deceived -- banks are not the only locations you can get financing. Other options are available and you do not have to borrow. Exactly what is trucking factoring ? One solution is called truck factoring. Truck Factoring is the procedure of offering invoices to a financier rather than waiting to gather the money from the customer. Oh, the Irony- Trucking factoring has an ironic distinction: It is the monetary backbone of many of America's most successful businesses. Why is this ironic ? Because receivable financing is not instructed in business colleges, is rarely mentioned in business plans and is fairly unknown to bulk of most of American business individuals.

Yet it is a financial process that releases up billions of dollars every year, enabling countless businesses to grow and prosper. Invoice Factoring has been around for thousands of years. Truck Factoring Businesses are investors who pay money for the right to get the future payments on your invoices. An unpaid receivable or invoice has value. It is a debt your customer has actually agreed pay in the near future. Factoring Principals--Although factoring offers solely with business-to-business deals, a big percentage of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a type of factoring in their retail deals. Using the purest definition of the word, these big consumer finance companies are truly just large Factoring Companies of customer paper. Consider it: You make a purchase at Sears and charge it to your MasterCard. The shop gets paid almost instantly, even though you do not make payment up until you are ready.

For this service, the charge card company charges Sears a charge (typical common normal fees vary from two to 4 percent of the sale). The Advantages Accounts Receivable Factoring can offer many advantages to cash-hungry companies. Instead of waiting 30, 60, 90 days or longer for payment on a product that has actually currently been delivered, a company 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 simply a few of the business requirements that can be satisfied with instant  cash.

Trucking Factoring provides the ways for a manufacturer to renew stock and make even more products to offer: There is no longer a requirement to await for earlier sales to be paid. FACTORING is not just a money management device for producers: Almost any kind company can take advantage of Staffing Factoring. Generally, a business that extends credit will have 10 to 20 percent of its annual sales bound in accounts receivable at any given time. Think for a moment about exactly how much is bound in 60 days' worth of invoices: You can not pay the power expense or this week s payroll with a client s invoice, but you can offer that invoice for the cash to meet those responsibilities. Using trucking factoring companies is a quick and easy process. The factoring company buys the invoice at a price cut, usually a couple of portion points less than the face value of the invoice.

 

 

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tucson-factoring-companies

 

The United states Trucking Organization
specifies that there are about
200,000 employees with freight trucking
businesses and
300,000 personal service providers trucking
firms accredited to
run in the U.S. that transferred,
according to their most current searchings for billions of
products, materials and
basic materials .
There are a number of common
providers either going solo or in
teams on our country
highways transporting these
important products to our
shops, factories and ports.

Moreover trucking factoring
corporations aid
many of them and offer their
accounts receivablesfinancing 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

 

"

Much of Tucson's economic development has been centered on the development of the University of Arizona, which is currently the second largest employer in the city. Davis-Monthan Air Force Base, located on the southeastern edge of the city, also provides many jobs for Tucson residents. Its presence, as well as the presence of the US Army Intelligence Center (Fort Huachuca, the largest employer in the region in nearby Sierra Vista), has led to the development of a significant number of high-tech industries, including government contractors, in the area. The city of Tucson is also a major hub for the Union Pacific Railroad's Sunset Route that links the Los Angeles ports with the South/Southeast regions of the country.The City of Tucson, Pima County, the State of Arizona, and the private sector have all made commitments to create a growing, healthy economy[] with advanced technology industry sectors as its foundation.Roughly 150 Tucson companies are involved in the design and manufacture of optics and optoelectronics systems, earning Tucson the nickname ""Optics Valley"".Tourism is another major industry in Tucson, bringing in $2 billion per year and over 3.5 million visitors annually due to Tucson's numerous resorts, hotels, and attractions.One of the major annual attractions is the Tucson Gem and Mineral Show, and its associated shows, all held generally in the first two weeks of February. These associated shows (such as gems, jewelry, beads, fossils) are held throughout the city, with 43 different shows in 2010. This makes Tucson's the largest such exposition in the world.In addition to vacationers, a significant number of winter residents, or ""snowbirds"", are attracted by Tucson's mild winters and contribute to the local economy. Snowbirds often purchase second homes in Tucson and nearby areas, contributing significantly to the property tax base.There are also a number of middle-class and upper-class Sonorans and Sinaloans who travel from Mexico to Tucson to purchase goods that are not readily available in Mexico.[]Nonprofits based in Tucson include the

 

"

 

Watch Our Freight Factoring YouTube Videos For More Information

 

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

 

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

 

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.

 

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.

 

 

"

Patterson Truck & Haul have been operating their 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, Patterson 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

 

. And worse yet, Patterson 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. And as spring turmed to summer and summer into the early days of fall, Phillip Hicks, CEO of Patterson felt a chill go down his spine whenever he would look at the weekly A/R reports. The numbers of clients who owed him back debt were growing.He had already been to the administrators to ask what the actual problem was. Were they doing things different, or wrong, when it came to collecting overdue accounts? By his bookkeepers records, this wasn't the case. 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. 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 Patterson hadn't gone elsewhere. The had just gone!.This current state-of-affairs was causing Phillip Hicks to have some very restless nights. Phillip 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. At night he would speak to his wife Wanda and shake his head in frustration.

 

""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would ask.Phillip would stare off into the distance, and then slowly close his eyes. In his mind he could clearly see the fleet of trucks purchased over the many 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. What on earth was happening to create the death of his business?""I think I know what it could be,"" said Phillip. ""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."" All Wanda could do was hold his hand and look at him tenderly. 'We know it is a difficult economy at the moment - perhaps it will take a while for people to get on top of their bills'.""Phillip 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 Phillip strolled into his office and was determined to sit down and make every phone call to every client who had owed Patterson money. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. Wasting money, wasting time - even with the best of intentions, Phillip 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 Pennyerley knocked at his door.

 

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

 

""Sure thing Penny, come on in."" Phillip relaxed back into his chair and looked up at Pennyerley.""Well Phillip, this afternoon I did some research, trying to work out how we are going to get out of this mess."" 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.""Phillip 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. 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,� Phillip 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. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

The company will advise us the cost to purchase factoring for our company's accounts receivable. Once we arrive at a mutual agreement, the funding begins.�Phillip was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Penny,"" he said.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Phillip: 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, Phillip,"" she drew a circle around a paragraph on the document before him.""How flexible?"" he asked.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. Apparently they can figure this all out in two to four days.

 

""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" Phillip said.He took a deep breath and looked at his secretary with something she recognized as hope.""Exactly�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Phillip took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Patterson Truck & Haul were professional resources of the company, but they were also long-standing friends. They did not want to throw away these relationships because they were having trouble paying their bills now. Phillip knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. 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 Penny, and thankyou."" Penny nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Phillip 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 Patterson 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, Patterson could receive up to fifty-percent cash advances upon load pick-ups. Phillip 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 William about this,"" muttered Phillip to himself.William is Phillip's son-in-law, and he really admired the ideas behind Patterson, so much so that only two years before he had started his own transportation service business. Phillip knew then what struggles William would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Patterson was hurting, a little guy like William was about to catch his death. But, maybe the answer for both of them was in freight factoring, and Phillip was going to find out very soon.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Phillip was beginning to find his way out of the hole his debtors had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They took that time and refocused effort to offering competitive prices in new territories. Phillip recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. He probably wouldn't be in business today had he not learned just in time about freight factoring.

 

"

 

"

Much of Tucson's economic development has been centered on the development of the University of Arizona, which is currently the second largest employer in the city. Davis-Monthan Air Force Base, located on the southeastern edge of the city, also provides many jobs for Tucson residents. Its presence, as well as the presence of the US Army Intelligence Center (Fort Huachuca, the largest employer in the region in nearby Sierra Vista), has led to the development of a significant number of high-tech industries, including government contractors, in the area. The city of Tucson is also a major hub for the Union Pacific Railroad's Sunset Route that links the Los Angeles ports with the South/Southeast regions of the country.The City of Tucson, Pima County, the State of Arizona, and the private sector have all made commitments to create a growing, healthy economy[] with advanced technology industry sectors as its foundation.Roughly 150 Tucson companies are involved in the design and manufacture of optics and optoelectronics systems, earning Tucson the nickname ""Optics Valley"".Tourism is another major industry in Tucson, bringing in $2 billion per year and over 3.5 million visitors annually due to Tucson's numerous resorts, hotels, and attractions.One of the major annual attractions is the Tucson Gem and Mineral Show, and its associated shows, all held generally in the first two weeks of February. These associated shows (such as gems, jewelry, beads, fossils) are held throughout the city, with 43 different shows in 2010. This makes Tucson's the largest such exposition in the world.In addition to vacationers, a significant number of winter residents, or ""snowbirds"", are attracted by Tucson's mild winters and contribute to the local economy. Snowbirds often purchase second homes in Tucson and nearby areas, contributing significantly to the property tax base.There are also a number of middle-class and upper-class Sonorans and Sinaloans who travel from Mexico to Tucson to purchase goods that are not readily available in Mexico.[]Nonprofits based in Tucson include the

 

"

 

More Trucking Factoring Companies Story Articles

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

 

More than forty years ago Ryan's father had started this business working as an owner-operator and eventually growing Edwards Trucking Company into a fifteen trailer fleet. There had been some hard times when it seemed everything was going to go under and even Ryan�s mother strapped herself into a cab 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. But now things were different: the company was in Ryan's hands and he needed to ensure that this business would be left in great shape for his sons.

 

To move Edwards 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. Every time he had to turn down a request, Edwards Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Ryan 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.

 

Ryan believed a successful man is always thinking of his next step. How would he take Edwards Trucking to the next level? 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. 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? There was a lot he didn�t understand about the process. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without 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.

 

Now it was time for Ryan to do his homework. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

But it turned out to be quite easy. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He didn�t mind signing an exclusive contract. 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. 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 Ryan it was quite a relief to be dealing with the factoring company. 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 didn�t worry over his credit and the debt troubles his father had had in the past of the company. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Ryan because he and his father had created a very strong and loyal list of clientele over the years. So he knew they would understand when the factoring company contacted them for the invoices. His clients wouldn�t think poorly of Edwards Trucking and the factoring companies appeared capable of handling the accounts receivable in the same polite manner that his father had used over the years.

 

Feeling happier now, Ryan stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. He suddenly realized that, with this new cash flow, he could actually expand Edwards Trucking Company and who knows, move into Canada, which had always been his dream. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

 

 

Watch Our Trucking Factoring Companies Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� asked Allan Cole, reclining back into his chair and crossing his legs. The woman sitting across the desk from Allan smiled at him, shaking her head.�No, not exactly,� she stated.Allan Cole owned a small trucking company, and his business had recently fallen on difficult times. Trucking could be a profitable business, and for a little under a decade, it had been for Troy. He named his business Lambert Trucking, named after Jeremy and Jeff, his two grandfathers. Both of these men had been very hardworking and had set a great example for Troy.Disaster had struck half a year ago, when two trucks in Troy�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. Allan 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 Allan 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. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Allan 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.That�s where the woman across the desk came in. Her name was Kathryn and she worked for a factoring company. He had accidentally come across her company one night when he was working late, searching the internet to see if there was some solution to his financial dilemma.She sat there now, and explained. �It�s not a loan, we purchase your accounts receivable. We 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.Allan agreed. It sounded perfect - perhaps too good?.The woman laughed. �I'm not sure that you believe me,� she said.�No, I do, I just think it sounds a bit too good to be true. I thought I was going to lose my company.�Kathryn nodded. �We get that a lot. There's no way we want to see you lose your business. You work hard, you�ve put everything you can into it. We all need help sometimes. That�s what we�re here for.""In any case, thank you for coming to see me.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Kathryn with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.

 

Allan completed the form, with Kathryn offering advice as needed.

 

The completed profile gave Kathryn and her company all the information they needed on Troy'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 businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. As Allan completed his form, Kathryn listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Kathryn took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Troy�s hand. He stood before they shook as well, and then smiled. They said their goodbyes and Allan 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 shut his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. But now, after speaking to Kathryn 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.The long nights, where he couldn�t sleep. The sudden panic attacks, not matter where he was. He could feel it all fading 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 there, he was on the right path, and he was working to make things right.Allan 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 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 six months off, and during that time he decided to create Lambert 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.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was nearing fifty. He didn�t think he had it in him, to save this company. 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. Allan opened his eyes, sat forward, turned his computer on. He had lots to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

Reasons why Truck Agencies Make use of Factoring Firms.

 

As the manager of your own company, you may likely be much more than perceptive already of the difficulty in making certain that cash flow issues do not become a difficulty down the line. After all, the most disappointing thing that can quite possibly come about for your firm is to find yourself involved in a long and difficult circumstance that leaves you forever trying to find the funds you really need on an on-going basis.

 

For pretty much any business in this case, the complication can come for waiting for work to lapse and actually be paid out into your bank account. Statements, checks, and the like could take some time to actually to beprocessed which can easily leave you with temporary capital issues. Fortunately, there are alternatives out there for firms to delve into-- and one of these is factoring companies.

 

Factoring providers will, in trade for your accounts, supply you with the cash now in order that you do not need to stress over the waiting time frame that could make paying off the expenses and obtaining materialsmore troublesome. With this form of setup, invoice factoring can become exceptionally practical for various firms who ought to get out of a money ploy which they have found themselves in.

 

Given that, depending on the size of the task, it can take up to 60 days for a number of companies to get paid then it is very important to take care of your own back and not leave yourself money short to pay the monthly bills. After all, how many businesses have two months cash flow just occupying there to cover all their bills till they earn?

 

This is primarily true of truck agencies. They generally handle tons of invoices which means a considerable quantity of collection time involves business owner themselves. Attempting to get paid off in time can come to be an amazing struggle and this is the key reasons why you use truck factoring agencies who are thrilled to help out truckers primarily.

 

As most of us know, trucking is an exceptionally massive business with lots of companies out there hiring hundreds of vehicle drivers. Unfortunately, several of these drivers wind up in cash troubles considering that they are still expecting work from six weeks ago to actually pay them. When this is the condition for a trucking firm, turning to factoring firms for solutions might be the finest choice left.

 

This indicates that a truck company can pay off the salaries of the workers, keep all the cars filled with gas and continue to surmount, develop and expand without continually waiting for the finances which is taking too long to come in. Trucking Enterprises functioning without a factoring program put in place are leaving themselves at notable risk, as competitions cash out promptly and continue to broaden.

 

There's absolutely almost nothing to be distressed about when it comes to using a Factoring agency-- they are not like a banking company or any individual who is going to leave you with a big stack of financial debt to repay. You give them authentic invoices from work you have already completed , you are just expediting the payment process.

 

In the United States, where truck firms develop, factoring establishments are not considered taking on loan in any capacity. This confidential arrangement then allows both parties to make money and experience a good future-- it gives the factoring company a warranted asset of earnings to include in the list and it supplies the trucking business the needed cash that they sweated to generate.

 

The trucking establishment bestows their accounts to the factoring agency. The trucking factoring business then take the payments from the trucking company's clients. Factoring has been in existence for centuries and has been utilized for long times by a lot of varying industries-- but none much more so than truckers. While you could lose out on a small part of the money, something like 1-3 % depending upon who you deal with, it means that you are obtaining the finances today and can actually start putting the cash to operate.

 

Once and for all, an IOU or an invoice is not actually going to cover expenditures, is it? For trucking firms when the income can be very good one day and gone the next, it is up to the drivers to work sensibly and to ascertain they are leaving themselves with a significant measure of time and money to get through the week till they are paid once more.

 

So the next occasion your trucking establishment is enduring some momentary capital troubles and you are investing an excessive amount of time chasing slowly paying clienteles, why not start off thinking about utilizing a factoring businesses as a means to get your finances and give yourself a more at ease future in the eyes of your trucking team and your bank dividend?

 

 

 

 

 

 

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Bank Loans

 

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

 

Trucking Factoring Companies

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to sell. Once 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.

 

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. 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. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

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

 

3. Receive Your Money Faster. Using a Trucking Factoring company means that you'll get the finance quicker. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.You receive interest up-front. 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 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 most important benefits is that once you sell your accounts receivable to the factory company, you do not have to take time away from running your business to collect the money owed from reluctant to pay customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very 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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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

 

New Orleans

Bakersfield

Tampa

Honolulu

Anaheim

Aurora

Santa Ana

St. Louis

Riverside

Corpus Christi

Pittsburgh

Lexington Fayette

Anchorage

Stockton

Cincinnati

St. Paul

Toledo


Newark

Greensboro

Plano

Henderson

Lincoln

Buffalo

Fort Wayne

Jersey

Chula Vista

Orlando

St. Petersburg

Norfolk

Chandler

Laredo

Madison

Durham

Lubbock

Winston Salem

Garland

Glendale

Hialeah

Reno

Baton Rouge

Irvine

Chesapeake

Irving

Scottsdale

North Las Vegas

Fremont

Gilbert town

San Bernardino

Boise

Birmingham

Rochester

Richmond

Spokane

Des Moines

 

 

 

 

 

Philadelphia

 

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