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Six Types of Companies - Which Group Are You In? - Our Truck Factoring Companies Can Give
Your Trucking Company The Money You Want

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Invoice Factoring is useful for a number of factors. It enables a trucking company to raise cash without acquiring new financial obligation. While debt is often needed, the majority of truck companies would choose to raise cash without obtaining money. Financial obligation is high-risk, and when it can not be repaid, properties can be repossessed. If the debt is big enough, it could even force a truck companies out of business.

 

 

 

 

 

 

 

Check the Kind of Bank Account You Want - Choose A Factoring Company Instead Of A Typical Bank Financing

Exactly how to Enhance Cash Flow Without Loaning -Cash Money flow is among the primary reasons businesses fail.

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

Cash flow does not have to be an issue any more. Do not be fooled -- banks are not the only locations you can get funding. Other options are offered and you do not have to borrow. Exactly what is trucking factoring ? One option is called trucking factoring. Truck Factoring is the procedure of selling accounts receivable to an investor rather than waiting to gather the cash from the customer. Oh, the Irony- Truck factoring has an ironic distinction: It is the financial backbone of numerous of America's most successful companies. Why is this paradoxical ? Because accounts receivable factoring is not instructed in business colleges, is rarely discussed in company strategies and is fairly unknown to bulk of most of American company individuals.

Yet it is a financial process that releases up billions of dollars every year, allowing thousands of companies to grow and succeed. Receivable Funding has actually been around for thousands of years. Truck Factoring Businesses are financiers who pay money for the right to get the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your customer has actually to pay in the near future. Factoring Principals--Although factoring deals solely with business-to-business transactions, a large percentage of the retail company uses a factoring principal. MasterCard, Visa, and American Express all utilize a type of factoring in their retail transactions. Using the purest meaning of the word, these large consumer finance companies are really simply big Staffing Factoring Companies of consumer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The store gets paid practically instantly, although you do not pay up until you are ready.

For this service, the charge card company charges Sears a charge (typical common normal fees range from 2 to 4 percent of the sale). The Advantages Receivable Funding 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 already been provided, a business can factor (sell) its receivables for cash at a small price cut off the dollar value of the invoice. Payroll, advertising efforts, and working capital are just a few of the company requirements that can be satisfied with instant  cash.

Receivable Loan Funding offers the means for a manufacturer to replenish stock and make even more products to offer: There is no longer a requirement to wait for earlier sales to be paid. Receivable Loan Financing is not simply a cash management device for producers: Almost any type company can benefit from FACTORING. Generally, a company that extends credit will have 10 to 20 percent of its annual sales tied up in accounts receivable at any given time. Think for a moment about exactly how much is tied up in 60 days' worth of invoices: You can not pay the power bill or this week s payroll with a client s invoice, but you can sell that invoice for the money to satisfy those obligations. Using trucking factoring companies is a quick and easy procedure. The factoring company purchases the invoice at a price cut, usually a couple of percentage points less than the face value of the invoice.

 

 

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The U.s. Trucking Organization
states that there around
205,000 truck drivers with truck
businesses and
300,000 personal providers trucking
companies accredited to
operate in the States that carried,
according to their most current data of millions
products, materials and
basic materials .
There are numerous typical
providers either going solo or in
teams on our nation
highways carrying these
vital products to our
stores, manufacturingplants and harbors.

Plus freight bill factoring
firms aid
numerous of them and offer their
accounts receivablesfinancing facilities
countrywideincluding
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

 

Hialeah is a city in Miami-Dade County, Florida, United States. As of the 2010 census, Hialeah has a population of 224,669. Hialeah is the sixth-largest city in the state, and is a major municipality within Greater Miami.Hialeah has the highest percentage of Cuban and Cuban American residents of any city in the United States, at 74% of the population, making them a distinctive and prominent feature of the city's culture.Hialeah also has one of the largest Spanish-speaking communities in the country. In 2000, 92% of residents reported speaking Spanish at home, and the language is an important part of daily life in the city. This has attracted many companies to Hialeah, such as Telemundo, the second largest Spanish-language television network in the United States, which is headquartered in the city.Hialeah is served by the Miami Metrorail at Okeechobee, Hialeah, and Tri-Rail/Metrorail Transfer stations. The Okeechobee and Hialeah stations serve primarily as park-and-ride commuter stations to commuters and residents going into Downtown Miami, and Tri-Rail station to Miami International Airport and north to West Palm BeachThe City of Hialeah is a significant commercial center in Miami-Dade County. .Hialeah is also home to vibrant community of mom and pop stores which actively and successfully compete against national name brand retailers, outfitters, and franchises. In order to remain competitive national businesses have altered their traditional business strategy to meet the demands of the local community. Publix supermarkets opened a Publix Sabor along one of the city's main streets which caters exclusively to Latin American and Hispanic clientele. Moreover, while most of the manufacturing and cloth industry that made Hialeah an industrial city in the 1970s-1980s have disappeared, new electronics and technology businesses have reinvigorated the local economy.Westland Mall provides residents with over 100 stores and several eateries.

 

 

Watch Our Factoring YouTube Video For More Information

 

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

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

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

 

Click below to find Trucking Companies in the United States:

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

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

 

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

 

 

"

Hall Truck & Haul have been operating their business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the boom times from 2002 to 2007 Hall Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. 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, Hall 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 Hall, Gary Morales, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The numbers of clients who owed him back debt were growing.He had already been to the administrators to ask what the actual problem was. Were they doing things different, or wrong, when it came to collecting overdue accounts? By his bookkeepers records, this wasn't the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Hall money had jumped ship and decided to leave him holding the bag.

 

. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. 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.To Gary Morales the situation looked desperate. There were goods to ship, employees to pay, trucks to repair and maintain, and continuous overheads that were very extensive when compared to the funds (or lack of) that were incoming. At night he would speak to his wife Jessica and shake his head in frustration.

 

""Lin, I have a really bad feeling,"" he would say with deep woe.""Well, what do you think it is?"" she would ask.Gary would stare off for a moment and then close eyes. He could see the fleet of trucks he had purchased over the years. He could see them on the road, delivering good to all his loyal customers. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What could cause this ultimate death spiral of business?""I think I know what it could be,"" Gary said. ""I've relied too long on the profits I receive from invoices alone. I've let too many of our customers go too long without paying on their bills."" Jessica would look at her husband lovingly, and holding his hand would say 'it is such a harsh economy these days and our clients must be having difficulty meeting their responsibilities'.""Gary 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 Gary strolled into his office and was determined to sit down and make every phone call to every client who had owed Hall 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. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. Wasting money, wasting time - even with the best of intentions, Gary 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 Christina knocked at his door.

 

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

 

""Sure thing Christina, come on in."" Gary leaned back in his chair and looked expectantly at Christina.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Gary."" 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.

 

So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Gary interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""it is actually very simple. We start by having a professional account manager review our figures and help us set up a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It provides a very broad view.""I see,� Gary 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. The funding commences once we�ve arrived at an agreement.�Gary was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Christina,"" he said.""Now, now, I know, I thought the same thing. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. They appear to be very flexible, Gary,"" she underlined a paragraph on the paper before him.""How flexible?"" asked Gary.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. 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. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" said Gary.Gary took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Gary thought about this and agreed with Christina. The customers who were in debt to Hall Truck & Haul were professional resources of the company, but they were also long-standing friends. Gary wasn't prepared to lose these relationships just because they were having financial issues at the moment. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. Of course he did not want to lose any more money, but he did not want to lose business either.""Let me go over this tonight Christina, and thankyou."" Christina nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Gary keep the shirt on his back, and possibly hers too.Gary sat behind his desk and looked over the details Christina had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Hall Truck & Haul with? Running his pencil down the sheet, he noted that the freight factoring company could assist with fuel costs, fuel advances, and fuel discount cards. Gary was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Gary 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 Allen about this,"" muttered Gary to himself.Allen is Gary's son-in-law, and he really admired the ideas behind Hall, so much so that only two years before he had started his own transportation service business. At that time Gary knew the struggles Allen would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Hall was hurting, a little guy like Allen was about to catch his death. But, maybe the answer for both of them was in freight factoring, and Gary 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 Gary 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. Gary looked back on the dismal months of life before freight factoring and almost shuddered at the thought. If Gary hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

Hialeah is a city in Miami-Dade County, Florida, United States. As of the 2010 census, Hialeah has a population of 224,669. Hialeah is the sixth-largest city in the state, and is a major municipality within Greater Miami.Hialeah has the highest percentage of Cuban and Cuban American residents of any city in the United States, at 74% of the population, making them a distinctive and prominent feature of the city's culture.Hialeah also has one of the largest Spanish-speaking communities in the country. In 2000, 92% of residents reported speaking Spanish at home, and the language is an important part of daily life in the city. This has attracted many companies to Hialeah, such as Telemundo, the second largest Spanish-language television network in the United States, which is headquartered in the city.Hialeah is served by the Miami Metrorail at Okeechobee, Hialeah, and Tri-Rail/Metrorail Transfer stations. The Okeechobee and Hialeah stations serve primarily as park-and-ride commuter stations to commuters and residents going into Downtown Miami, and Tri-Rail station to Miami International Airport and north to West Palm BeachThe City of Hialeah is a significant commercial center in Miami-Dade County. .Hialeah is also home to vibrant community of mom and pop stores which actively and successfully compete against national name brand retailers, outfitters, and franchises. In order to remain competitive national businesses have altered their traditional business strategy to meet the demands of the local community. Publix supermarkets opened a Publix Sabor along one of the city's main streets which caters exclusively to Latin American and Hispanic clientele. Moreover, while most of the manufacturing and cloth industry that made Hialeah an industrial city in the 1970s-1980s have disappeared, new electronics and technology businesses have reinvigorated the local economy.Westland Mall provides residents with over 100 stores and several eateries.

 

 

More Trucking Factoring Companies Story Articles

"

Factoring in the Future of a Trucking Business: A Story Howard Barnes let the phone ring on his desk. His morning coffee cooled and his cigarette smoked away in the tray: Howard is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Barnes 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 Howard's father had started this business working as an owner-operator and eventually growing Barnes 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 Howard's mother had jumped into the cab at times to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. Now the company was solely in Howard�s hands and he wanted to live to see it in better shape for his sons.

 

To move Barnes Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. He had employees to pay. They had families and household bills too. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. He knew that turning down these requests made Barnes 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. Howard allowed himself a good hard chuckle. He remembered when his father was totally against installing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). 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.

 

Howard believed a successful man is always thinking of his next step. How would he take Barnes Trucking to the next level? And how would he be able to afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

But was factoring the answer? If he was being honest, he did not really understand how it all worked. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Howard had to really consider what his next step was going to be. Howard 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 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. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. 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. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the 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 sounded like a great scheme to him.

 

For Howard 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 were not interested in his credit nor the financial problems his father had experienced in the past. Factoring was based on the credit of his customers and on their reliability which worked well for Howard because he and his father had built up good strong relationships over decades with their list of clients. 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 Barnes 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, Howard 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 Barnes 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 Freight Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� asked Micheal Taylor, reclining back into his chair and crossing his legs. The woman sitting across the desk from Micheal smiled at him, shaking her head.�No, not exactly,� she stated.Micheal Taylor 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 Jerome. He named his business Lawrence Trucking, named after Jimmie and Douglas, his two grandfathers. Both of these men had been very hardworking and had set a great example for Jerome.Six months ago disaster struck Jerome's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. The financial security of Jerome's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.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.Micheal was an excellent business man, and he certainly hadn't done anything wrong. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.And that's why he found himself across the desk from this woman. Micheal knew she was employed by a Factoring company and that her name was Joann. Micheal had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.She sat there now, and explained. �It�s not a loan, we purchase your accounts receivable. we are not giving you finance to be repaid later: we are purchasing something from you, and when you can you can buy it back. This is a win-win situation: we are protected from a total loss, and you're protected from the ridiculous fees and charges you'd have to pay if you borrowed from a bank.Micheal nodded. It sounded good to him, almost too good.Joann laughed. �You look like you don�t believe me,� she chuckled.�Oh no, I do: it just sounds too good to be true. I thought I was going to lose my company.�Joann 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 why we do what we do.""Well, I'm very grateful that you came to see me today.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Joann with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.

 

Micheal filled the form out, with Joann available to help him if he needed it. The profile filled Joann and her company in on Jerome�s company, and would help them determine if he was 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 Micheal completed his form, Joann listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Joann took it and slid it into her briefcase. She then stood, reached across the desk and shook Jerome�s hand. He also stood up, and they smiled at each other. They said their goodbyes and Micheal walked her to the door, and then returned to his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He leaned back and closed his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. But now, after speaking to Joann 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 terrifying panic attacks that occurred regardless of where he was. He could feel it all fading away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was there, he was on the right path, and he was working to make things right.Micheal couldn�t help but think back to when he had first started the business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been successful. Offering home cooking in his own hometown, his business had really prospered.But he had gotten bored. He wasn't passionate about the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took half a year off, and in that time he thought to start Lawrence Trucking. And that's exactly what he did. Once again he built a company from the ground up. He had been successful.And then the trucks went down, and his success looked to be in flux. He was about to turn fifty. He didn�t think he had it in him, to save this company. But giving up wasn't part of his personality either.

 

Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He didn�t know how to say quit.And now it seemed as though he would not have to - all because of Factoring. Jerome's eyes opened, he sat forward in his chair and turned on his computer. He had things to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

Why Trucking Firms Work with Factoring Companies.

 

As the operator of your own business, you may well be more than mindful already of the hardship in making certain that capital issues do not become a problem down the line. Anyway, the most terrible thing that can potentially take place for your company is to find yourself involved in a long and challenging situation that leaves you forever trying to find the resources you require on an on-going basis.

 

For any type of establishment in this condition, the trouble can come for waiting for work to lapse and actually be brought in into your account. Invoices, checks, and the like could take a while to actually to be taken care of which can certainly leave you with temporary capital issues. Fortunately, there are opportunities out there for establishments to investigate-- and among these is factoring agencies.

 

Factoring providers will, in substitution for your invoices, supply you with the cash money asap so you do not need to worry about the waiting phase that could make paying out the bills and getting toolsmore difficult. With this form of system, invoice factoring can come to be remarkably practical for several companies who ought to get out of a cash lure which they have found themselves in.

 

Since, relying on the volume of the task, it can take up to 60 days for several enterprises to get paid then it is crucial to blanket your own back and certainly not leave yourself money short to pay the bills. After all, how many firms possess two months revenue just lying there to cover all their costs till they get paid?

 

This is especially correct of trucking agencies. They often tend to manage tons of statements which means a substantial quantity of collection time demands business owner themselves. Trying to get compensated promptly can become an extraordinary trouble and this is the reason why you make use of trucking factoring firms who are pleased to help out truckers particularly.

 

As all of us recognize, trucking is an surprisingly big field with countless firms out there utilizing hundreds of vehicle drivers. However, numerous of these drivers wind up in cash problems because they are still expecting work from six weeks back to actually compensate them. When this is the condition for a trucking business, resorting to factoring companies for support maybe the finest choice left.

 

This implies that a truck business can compensate the salaries of the crew, keep all the vehicles filled with fuel and continue to escalate, rise and expand without constantly waiting for the finances which is taking too lengthy to come in. Trucking Business enterprises functioning without a factoring program used are leaving themselves at considerable risk, as contenders cash out fast and proceed to expand.

 

There's honestly very little to be troubled about when it comes to using a Factoring business-- they are not like a bank or somebody who is going to leave you with a considerable stockpile of debt to repay. You give them authentic invoices from job you have already completed , you are simply expediting the payment process.

 

In the United States, where trucking enterprises thrive, factoring agencies are not considered accepting loan of in any capacity. This confidential deal then lets both parties to benefit and experience a worry-free future-- it provides the factoring company a warranted resource of earnings to include in the list and it offers the trucking business the needed cash that they sweated to obtain.

 

The trucking enterprise gives their statements to the factoring enterprise. The trucking factoring business then acquire the payment amounts from the trucking company's customers. Factoring has been in existence for centuries and has been employed for many years by plenty of varied markets-- but none more so than truckers. While you might possibly miss out on a small part of the money, something like 1-3 % depending on who you collaborate with, it signifies that you are acquiring the cash today and can actually start off putting the cash to perform.

 

Anyway, an IOU or an invoice is definitely not going to pay for spendings, is it? For trucking firms when the finances can be really good one day and gone the next, it is up to the drivers to work prudently and to ensure they are leaving themselves with a considerable measure of time and finance to get through the week until they are compensated once again.

 

So the next moment your trucking business is bearing some short-term capital problems and you are investing excessive time chasing slow paying clienteles, why not start off taking into consideration employing a factoring businesses as a manner to get your finances and give yourself a more comfortable future in the eyes of your trucking personnel and your bank balance?

 

 

 

 

 

 

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Traditional Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. These loans can be a life-saver, but they're not always available to every business. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Once the loan is paid off, you can then apply for another loan if the need arises.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to sell. Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

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

 

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

 

1. You will not Incur Debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. 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. 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. There's no collateral required. Another great benefit of using the services of a Trucking Factoring company instead of a bank loan is that there is no collateral required for the Trucking Factoring company, because the Trucking Factoring company is buying your accounts receivables. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This 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. Using a Trucking Factoring company means that you'll get the finance quicker. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.You receive interest up-front. With a bank loan interest continues to build, and this has to be paid the whole time you have a business loan; however with a Trucking Factoring company there is no interest - they take it right off the top by deducting it from the total amount of receivable accounts. So not only are you relieved of those monthly loan payments, but you also do not have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

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

 

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Factoring Companies by City

New York City

Los Angeles


Chicago


Houston


Philadelphia


Phoenix


San Antonio


San Diego


Dallas


San Jose

Austin


Jacksonville


Indianapolis


San Francisco


Columbus


Fort Worth


Charlotte


Detroit


El Paso


Memphis

 

 

Boston


Seattle


Denver


Washington DC


Nashville-Davidson


Baltimore


Louisville/Jefferson


Portland


Oklahoma City


Milwaukee


Las Vegas


Albuquerque


Tucson


Fresno


Sacramento


Long Beach


Kansas City


Mesa


Virginia Beach


Atlanta

 

Colorado Springs


Raleigh


Omaha


Miami


Oakland


Tulsa


Minneapolis


Cleveland


Wichita


Arlington

 

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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