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They Grinned When the Banker Spoke to Me in French - Our Trucking Factoring Companies Can Provide
Your Truck Company The Money You Need

workingcapitalfactoring.org

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freight forwarding factoring

freight invoice factoring

Invoice Factoring is beneficial for numerous reasons. It permits a truck firm to raise money without getting brand-new financial obligation. While debt is often needed, a lot of trucking firms would prefer to raise cash without borrowing money. Debt is high-risk, and when it cannot be repaid, possessions can be repossessed. If the financial obligation is big enough, it may even force a freight brokerage out of business.

 

 

 

 

 

 

 

Do You Do Any Of These Embarrassing Things? - Choose A Trucking�Factoring Company  Instead Of A Traditional Bank Financing

Exactly how to Enhance Cash Flow Without Borrowing -Cash Money flow is one of the main reasons businesses fail.

At one time or another, every business, even successful ones, have experienced poor cash flow.

Money flow does not have to be a problem any more. Do not be deceived -- banks are not the only locations you can get financing. Other options are available and you do not have to borrow. What is trucking factoring ? One solution is called trucking factoring. Trucking Factoring is the procedure of offering accounts receivable to an investor rather than waiting to gather the cash from the customer. Oh, the Irony- Trucking factoring has a paradoxical difference: It is the monetary foundation of many of America's most successful businesses. Why is this ironic ? Since truck factoring is not instructed in business colleges, is rarely mentioned in company plans and is fairly unidentified to bulk of most of American business people.

Yet it is a financial process that releases up billions of dollars every year, enabling thousands of businesses to grow and succeed. Staffing Factoring has been around for thousands of years. Invoice Factoring Businesses are financiers who pay cash for the right to receive the future payments on your invoices. An overdue receivable or invoice has value. It is a debt your client has actually agreed pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business deals, a large percentage of the retail business uses a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail transactions. Using the purest meaning of the word, these big consumer finance companies are really simply large Invoice Factoring Businesses of customer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The shop makes money practically immediately, although you do not make payment until you are prepared.

For this service, the charge card company charges Sears a fee (typical common normal fees range from 2 to 4 percent of the sale). The Benefits Receivable Financing can provide numerous advantages to cash-hungry business. Instead of waiting 30, 60, 90 days or longer for payment on an item that has already been delivered, a business can factor (sell) its receivables for cash at a little discount off the dollar value of the invoice. Payroll, marketing efforts, and working capital are simply a few of the business needs that can be satisfied with instant  cash.

Receivable Loan Funding provides the means for a producer 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 simply a cash management tool for manufacturers: Practically any type company can take advantage of Commercial Factoring. Typically, a company that extends credit will have 10 to 20 percent of its annual sales tied up in invoices at any given time. Think for a moment about how much is tied up in 60 days' worth of invoices: You can not pay the power expense or this week s payroll with a customer s invoice, however you can sell that invoice for the cash to meet those obligations. Using truck factoring companies is a fast and easy process. The factoring company purchases the invoice at a discount, usually a few portion points less than the face value of the invoice.

 

 

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The United states Truck Organization
states that there are about
205,000 workers with truck
businesses and
250,000 private companies trucking
firms certified to
operate in the States that transferred,
according to their most current searchings for billions of
items, materials and
fundamental materials .
There are numerous usual
carriers either going solo or in
groups on our country
roadways transporting these
crucial products to our
shops, manufacturing facilities and ports.

Also trucking factoring
corporations aid
many of them and offer their
accounts receivablesfinancing facilities
nationallycounting
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

 

Sacramento is the capital city of the U.S. state of California and the seat of government of Sacramento County. It is at the couence of the Sacramento River and the American River in the northern portion of California's expansive Central Valley. With an estimated 2011 population of 477,892, it is the sixth-largest city in California and the 35th largest city in the United States. Sacramento is the core cultural and economic center of the Sacramento metropolitan area which includes seven counties with an estimated 2009 population of 2,527,123. Its metropolitan area is the fourth largest in California after the Greater Los Angeles Area, San Francisco Bay Area, and the San Diego metropolitan area, as well as the 27th largest in the United States. In 2002, the Civil Rights Project at Harvard University conducted for TIME magazine named Sacramento �America�s Most Diverse City.�Sacramento became a city through the efforts of the Swiss immigrant John Sutter, Sr., his son John Sutter, Jr., and James W. Marshall. Sacramento grew quickly thanks to the protection of Sutter's Fort, which was established by Sutter in 1839. During the California Gold Rush, Sacramento was a major distribution point, a commercial and agricultural center, and a terminus for wagon trains, stagecoaches, riverboats, the telegraph, the Pony Express, and the First Transcontinental Railroad.California State University, Sacramento, more commonly known as Sacramento State or Sac State, is the largest university in the city and one of 23 campuses in the California State University system. Drexel University Sacramento and the University of the Pacific McGeorge School of Law are in Sacramento. In addition, the University of California, Davis, is in nearby Davis, 15 miles (24 km) west of the capital. The UC Davis Medical Center, a world-renowned research hospital, is located in the city of Sacramento.

 

 

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Oilfield services Receivables Financing company Calculator
This calculator will show you how much you will make by using our Oilfield services Receivables Financing company . But, as your about todiscover, youwill certainly notice the increased cash flow that will occur when you use our Oilfield services Receivables Financing company
Enter the principal balance of your Oilfield services Receivables Financing company
(call your Oilfield services Receivables Financing company lender and ask for the current payoff amount):
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(invoice amount):
Enter the your Oilfield services Receivables Financing company's current interest rate:

Click below to find Trucking Companies in the United States:

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

Searching for the right trucking companies to move your freight can be tough, with the large amount of local, regional, and national truck carriers out there. Center helps make freight shipping simple, finding you the safest, reliable trucking companies every time you ship. Trucking companies are licensed and insured to carry freight safely and efficiently across the country, no matter the size or type of freight you need to ship.Plus, with the high volume of freight we move, we will work to get you the best freight rates possible. Simply enter in a few details below and you�ll see instant freight rates from all the top trucking companies in one easy screen

 

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

 

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

 

 

"

Hill 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, Hill 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. Cash was flowing and times were good for all.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 down. And worse yet, Hill 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 Hill, Eric Simpson, 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 gone to his administrators and asked them what the problem had been. Were they doing things different, or wrong, when it came to collecting overdue accounts? When checking his bookkeeper's records this was definitely not the case. 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. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. They had just gone home.The situation looked dire to Eric Simpson. He had employees to pay, goods to ship, trucks to maintain and overhead that was almost unbearable when compared against the lack of funds that were coming in. At night he would speak to his wife Anna and shake his head in frustration.

 

""I have a bad feeling, Lin,"" he'd sadly say to his wife.""What could you do differently?"" she would say.Eric 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 then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What could cause this ultimate death spiral of business?""I know what it is,"" Eric said. ""For way too long I've been relying solely on profits received from invoices. For too long I've been allowing our clients to let their accounts become overdue."" All Anna 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'.""Anna was trying so hard to support her husband in these worrying times, while Eric was weighed down with the worry of how he was going to handle this situation he found himself in.The following day Eric walked into his office with a spring in his step, determined to call each and every client who owed money to Hill Truck & Haul. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. 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, Eric 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 Ericaerley knocked at his door.

 

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

 

""Of course Erica, please come in."" Eric leaned back in his chair and looked expectantly at Ericaerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Eric."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard the word factoring?"" she asked.""It does sound vaguely familiar. What is factoring""? he asked.""Well,"" she began, ""It�s actually quite simple really.

 

Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Eric interrupted ""Immediately?"".""Immediately, yes"" she added, ""In a nutshell, it is pretty easy. 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. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It provides a very broad view.""I see,� Eric 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. 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.�Eric leaned forward and reviewed the paperwork closely.""I do not know, Erica - it just sounds too good to be true"", Eric said quietly.""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. And they're flexible Eric,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" asked Eric.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. It only takes 2 to 4 days for this to be figured out. ""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" Eric said.Eric took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Precisely�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Eric took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Hill 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. Eric knew only too well that the whole economy was floundering, and that it was not going to change overnight. 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 Erica, and thankyou."" Erica nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Eric keep the shirt on his back, and possibly hers too.Eric stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. What other issues could freight factoring help Hill 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, Hill could receive up to fifty-percent cash advances upon load pick-ups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""Well, I'll have to tell Elmer about this,"" Eric muttered to himself.His son-in-law Elmer had liked the idea of Hill so much and revered his father in law for having such business acumen that only two years before, he had gathered the venture capital to begin his own transportation service company. Eric knew then what struggles Elmer would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Hill was hurting, a little guy like Elmer 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, Eric found himself beginning to dig his way out of the hole his delinquent account holders had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They used that time to refocus their efforts in being competitive in new territories. Eric recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

Sacramento is the capital city of the U.S. state of California and the seat of government of Sacramento County. It is at the couence of the Sacramento River and the American River in the northern portion of California's expansive Central Valley. With an estimated 2011 population of 477,892, it is the sixth-largest city in California and the 35th largest city in the United States. Sacramento is the core cultural and economic center of the Sacramento metropolitan area which includes seven counties with an estimated 2009 population of 2,527,123. Its metropolitan area is the fourth largest in California after the Greater Los Angeles Area, San Francisco Bay Area, and the San Diego metropolitan area, as well as the 27th largest in the United States. In 2002, the Civil Rights Project at Harvard University conducted for TIME magazine named Sacramento �America�s Most Diverse City.�Sacramento became a city through the efforts of the Swiss immigrant John Sutter, Sr., his son John Sutter, Jr., and James W. Marshall. Sacramento grew quickly thanks to the protection of Sutter's Fort, which was established by Sutter in 1839. During the California Gold Rush, Sacramento was a major distribution point, a commercial and agricultural center, and a terminus for wagon trains, stagecoaches, riverboats, the telegraph, the Pony Express, and the First Transcontinental Railroad.California State University, Sacramento, more commonly known as Sacramento State or Sac State, is the largest university in the city and one of 23 campuses in the California State University system. Drexel University Sacramento and the University of the Pacific McGeorge School of Law are in Sacramento. In addition, the University of California, Davis, is in nearby Davis, 15 miles (24 km) west of the capital. The UC Davis Medical Center, a world-renowned research hospital, is located in the city of Sacramento.

 

 

More Trucking Factoring Companies Story Articles

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

 

More than forty years ago Donald's father had started this business working as an owner-operator and eventually growing Harris Trucking Company into a fifteen trailer fleet. Yes, they had survived some very difficult times when it appeared like they might go under, and even Donald's mother had jumped into the cab at times to make hauls. His father had worked long enough to see the price of hires drop dramatically during the recession and to see the explosion of fuel prices afterwards. Now the company was solely in Donald�s hands and he wanted to live to see it in better shape for his sons.

 

There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. He had employees to pay. They all have families and the usual household bills. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. He knew that turning down these requests made Harris 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. Donald chuckled, thinking about his father. He remembered when his father was totally against installing 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). His father days were long gone and technology was actually an important improvement for the business such as having Qualcomm to cut down on fruitless time communicating on the phone for bills of lading.

 

Donald believed a successful man is always thinking of his next step. How would he take Harris Trucking to the next level? More importantly, how could he afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

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

 

Donald had to really consider what his next step was going to be. Donald 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. 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. 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. 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. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It was good money.

 

For Donald it was quite a relief to be dealing with the factoring company. They were extremely helpful and more personable than the bank staff. 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 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 Donald 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 wouldn�t think poorly of Harris 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, Donald stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. He suddenly realized that, with this new cash flow, he could actually expand Harris Trucking Company and who knows, move into Canada, which had always been his dream. His heart felt full knowing his sons wouldn�t have to worry about money because of the right decisions he had made for their trucking business.

 

 

 

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Trucking Factoring  Articles

"

�So It is not a loan?� asked Stephen Ramirez, reclining back into his chair and crossing his legs. The woman sitting across the desk from Stephen smiled at him, shaking her head.�No, not exactly,� she said.Stephen Ramirez owned a small trucking company, and his business had recently fallen on difficult times. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Antonio. He named his business Turner Trucking, named after Lloyd and Felix, his two grandfathers. They had both been hardworking men, and had done a lot to make Stephen the same.Disaster had struck half a year ago, when two trucks in Antonio�s fifteen truck fleet went down. One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. The financial security of Antonio'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 Stephen 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.Stephen 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 Stella 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.Stella explained. �it is really not a loan at all: we actually buy your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. That way we�re protected from a complete loss, but you�re protected from the outrageous fees you would find in a loan from the bank.Stephen agreed. It sounded good to him, almost too good.Stella 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.�Stella smiled, agreeing. �We get that a lot. There's no way we want to see you lose your business. We know how hard you work, and that you've invested everything in your business. Sometimes you need help. 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,� Stella said with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Stephen completed the form, with Stella offering advice as needed.

 

The profile filled Stella and her company in on Antonio�s company, and would help them determine if he was suitable for factoring. Unfortunately, not all companies are. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. Listening as Stephen filled out his form, Stella was pretty sure he was a perfect candidate for factoring.When the form was done Stella took it and slid it into her briefcase. Standing up, she reached over the desk and shook Antonio's hand. He also stood up, and they smiled at each other. They said their goodbyes and Stephen walked her to the door, and then returned to 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 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 Stella and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.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.His mind wandered back to the very beginning, when he first started his business. At twenty-two and straight out of school he had opened a restaurant. 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. His passion didn�t lie with 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 Turner Trucking. And that's exactly what he did. Once again he built 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 didn�t know how to say quit.And now, because of factoring, he was sure he wouldn�t have to. Stephen opened his eyes, sat forward, turned his computer on. He had things to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

The reason why Truck Corporations Work with Factoring Firms.

 

As the operator of your own firm, you may perhaps be much more than conscious already of the difficulty in making sure that cash flow matters do not become a difficulty down the line. After all, the most disappointing thing that can possibly happen for your business is to find yourself dragged in a long and problematic circumstance that leaves you forever trying to find the resources you necessitate on an continuing manner.

 

For just about any firm in this condition, the concern can come for waiting for work to lapse and actually be repaid into your account. Statements, checks, and the like can take a long time to actually to beprocessed which can leave you with momentary cash flow problems. Thank goodness, there are options out there for businesses to look into-- and one of these is factoring companies.

 

Factoring agencies will, in substitution for your accounts, provide you with the cash money today to make sure that you do not need to stress over the waiting time frame which could make paying out the expenses and getting toolsmore complicated. With this style of system, invoice factoring can end up being remarkably valuable for several firms who have to get out of a cash pitfall which they have gotten themselves in.

 

Simply because, depending on the scale of the job, it can take up to 60 days for some companies to get paid out then it is critical to take care of your own back and not leave yourself funds short to settle the expenses. After all, how many firms have two months earnings just lying there to handle all their expenditures till they earn?

 

This is most notably correct of truck firms. They often take care of great deals of statements which means a significant volume of collection time concerns business owner themselves. Making an effort to get compensated promptly can develop into an extraordinary headache and this is the reason why you work with trucking factoring providers who are delighted to help out truckers mainly.

 

As we all understand, trucking is an surprisingly enormous business with a lot of companies out there employing hundreds of vehicle drivers. Unfortunately, many of these drivers wind up in cash difficulties due to the fact that they are still awaiting work from six weeks back to actually pay them. When this is the condition for a truck organization, turning to factoring firms for reinforcement may be the most effective option left.

 

This indicates that a truck corporation can provide the paychecks of the people, keep all the cars topped off with fuel and continue to escalate, evolve and expand without always waiting for the funds which is taking too prolonged to come in. Trucking Enterprises working without a factoring system applied are leaving themselves at significant hazard, as contenders cash out fast and continue to grow.

 

There's absolutely nothing to be stressed about when it comes to utilizing a Factoring firm-- they are not like a banking company or somebody who is going to leave you with a significant stack of debt to repay. You give them genuine invoices from work you have already finalized , you are simply accelerating the repayment system.

 

In the United states of America, where truck establishments flourish, factoring agencies are not considered taking on loan in any capacity. This private agreement then makes it possible for both groups to profit and experience a good future-- it provides the factoring business a warranted asset of revenue to include in the list and it gives the trucking firm the required cash that they sweated to gain.

 

The trucking business presents their invoices to the factoring agency. The trucking factoring company then take the payment amounts from the trucking company's clients. Factoring has beenaround for hundreds of years and has been employed for decades by numerous varying business-- but none exceeding so than truckers. While you may well lose out on a small part of the money, something like 1-3 % depending on who you collaborate with, it implies that you are getting the money today and can actually start setting the resources to work.

 

Once and for all, an IOU or an invoice is definitely not going to finance expenses, is it? For trucking enterprises when the funds can be great one day and gone the next, it is up to the drivers to work smartly and to make certain they are leaving themselves with a notable volume of time and finance to get through the week till they are handed over once more.

 

So the next period your trucking establishment is enduring some momentary capital troubles and you are spending too much time chasing slowly paying customers, why not begin thinking of employing a factoring businesses as a way to get your cash and give yourself a more at ease future in the eyes of your trucking crew 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. While these loans are handy they are not 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. 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 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 finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to sell. Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

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

 

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

 

1. 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. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. No Collateral Required. Another 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 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. Receive Your Money Faster. With a Trucking Factoring company you can actually get the money you need faster. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.

 

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

 

As you can see, 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.

 

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

 

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