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Free Book Tells You 12 Secrets of Better Cash Flow - Our Receivable Factoring Company Can Provide
Your Freight Company The Money Your Company Needs

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factoring for trucking companies

freight bill factoring

Invoice Factoring is beneficial for numerous factors. It allows a trucking business to raise cash without acquiring brand-new financial obligation. While financial obligation is occasionally necessary, the majority of truck businesses would prefer to raise money without obtaining cash. Financial obligation is risky, and when it can not be repaid, possessions can be repossessed. If the financial obligation is large enough, it might even compel a freight broker firm out of business.

 

 

 

 

 

 

 

How Much is Your Cash Flow "Tension" Costing Your Company - Pick A Freight Bill�Factoring Company  Instead Of A Traditional Bank Financing

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

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

Money flow does not have to be an issue any ever more. Do not be fooled -- banks are not the only places you can get funding. Other solutions are offered and you do not have to borrow. What is truck factoring ? One option is called truck factoring. Trucking Factoring is the procedure of offering accounts receivable to a financier instead of waiting to gather the cash from the customer. Oh, the Irony- Trucking factoring has a paradoxical difference: It is the financial backbone of many of America's most successful businesses. Why is this paradoxical ? Since staffing factoring is not taught in business colleges, is rarely discussed in company plans and is relatively unidentified to bulk of most of American business people.

Yet it is a financial procedure that frees billions of dollars every year, enabling countless companies to grow and prosper. Trucking Factoring has actually been around for countless years. Receivable Loan Funding Businesses are investors who pay money for the right to get the future payments on your invoices. An overdue receivable or invoice has value. It is a financial obligation your client has actually to pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business deals, a large percentage of the retail company utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail transactions. Using the purest definition of the word, these big customer finance business are really simply large Receivable Funding Businesses of consumer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The shop makes money almost instantly, even though you do not pay up until you are prepared.

For this service, the credit card company charges Sears a charge (typical common normal charges range from two to 4 percent of the sale). The Advantages Truck Factoring can provide many advantages to cash-hungry companies. Instead of waiting 30, 60, 90 days or longer for payment on an item that has actually currently been delivered, a company can factor (sell) its receivables for money at a little discount off the dollar value of the invoice. Payroll, marketing efforts, and working capital are just a few of the business requirements that can be satisfied with instant  money.

Receivable Loan Financing offers the means for a producer to renew stock and make even more products to sell: There is no longer a requirement to wait for earlier sales to be paid. Receivable Loan Financing is not just a money management tool for manufacturers: Almost any kind business can take advantage of Receivable Funding. Generally, a company that extends credit will have 10 to 20 percent of its yearly sales bound in invoices 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 expense or today s payroll with a customer s invoice, but you can sell that invoice for the money to satisfy those responsibilities. Using truck factoring companies is a quick and simple process. The factoring company purchases the invoice at a price cut, typically a couple of percentage points less than the stated value of the invoice.

 

 

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The American Trucking Association
specifies that there around
200,000 truck drivers with transportation
firms and
250,000 personal companies trucking
companies accredited to
run in the United States that carried,
according to their newest listings of millions of
items, supplies and
standard materials .
There are a number of common
providers either going solo or in
groups on our nation
highways carrying these
important items to our
shops, manufacturing facilities and shipping ports.

And freight factoring
businesses service
many of them and offer their
accounts receivablesfinancing facilities
nationwidecomprising
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

 

Athens (formally known as Athens-Clarke County) is a consolidated city�county in the U.S. state of Georgia, in the northeastern part of the state, comprising the former city of Athens proper (the county seat) and Clarke County. The University of Georgia, the state's flagship public research university, is located in this college town, and contributed to its initial growth. In 1991, after a vote the preceding year, the original city abandoned its charter to form a unified government with Clarke County, referred to collectively as Athens-Clarke County.[2] As of the 2010 census, the consolidated city-county (including all of Athens-Clarke County except Winterville and a portion of Bogart) had a total population of 115,452; all of Clarke County had a population of 116,714.[3] Athens is the fifth largest city in Georgia, and the principal city of the Athens-Clarke County, Georgia Metropolitan Statistical Area,[4] which had a population of 192,541 as of the 2010 census.[5] Athens-Clarke County has the smallest geographical area of a county in Georgia.

 

 

Watch Our Factoring YouTube Video For More Information

 

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

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

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

 

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

 

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

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

 

Click below to find Trucking Companies in the United States:

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

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.

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.

 

"

Simmons Truck and Haul has been in 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 Simmons 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. Times were great for everyone, and the cash was flowing.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed to a crawl

 

. Worse still, it was noticed by Simmons in early 2008 that even though most of their loyal customers were on time with their payments, there were a few late bloomers who were starting to spread the disease. And as spring turmed to summer and summer into the early days of fall, Shawn Watkins, CEO of Simmons felt a chill go down his spine whenever he would look at the weekly A/R reports. The number of clients who were late in their payments was continuing to grow.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. 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 Simmons money had jumped ship and decided to leave him holding the bag.

 

. They could not afford to pay him their debt, but they could afford a lesser service, maybe. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Simmons hadn't gone elsewhere. The had just gone!.To Shawn Watkins the situation looked desperate. 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. In the evenings he would discuss his concerns with his wife, Tina, and still find no relief from the worry and frustration.

 

""I have a bad feeling, Lin,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would ask.Shawn 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 traveling, bringing goods to all of his clients. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. What could cause this ultimate death spiral of business?""I know what it is,"" said Shawn. ""I've relied too long on the profits I receive from invoices alone. For too long I've been allowing our clients to let their accounts become overdue."" Linda could only grab her husband's hand and look at him lovingly, ""it is a hard economy. It might be awhile until things get settled up.

 

""Shawn 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 Shawn strolled into his office and was determined to sit down and make every phone call to every client who had owed Simmons 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. A waste of time - a waste of money - he had the best intentions, but all the while Shawn was realising just how much trouble he was in.After a half day of contacting debtors in vain - they dodged his calls or promised to call back at worst or made minimal interest-only payments at best - he was about to throw in the towel when his secretary Kayerley knocked at his door.

 

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

 

""Sure thing Kay, come on in."" Shawn leaned back in his chair and looked expectantly at Kayerely.""Well Shawn, this afternoon I did some research, trying to work out how we are going to get out of this mess."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard the word factoring?"" Kayerley asked.""It does sound vaguely familiar. What is it?"" he said.""Well,"" she began, ""It�s actually quite simple really.

 

So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Immediately?"" Shawn interrupted.""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. 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,� Shawn said. �And then what?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

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.�Leaning forward, Shawn studied the documents very closely.""It sounds too good to be true, Kay,"" he said.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Shawn: they've guaranteed that experts will do all the paperwork, and that will free us up to do what we should be doing - focusing on our customers in good standing, and that kind of stuff. They appear to be very flexible, Shawn,"" she underlined a paragraph on the paper before him.""How flexible?"" he asked.""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. Apparently they can figure this all out in two to four days.

 

""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" said Shawn.He took a deep breath and looked at his secretary with something she recognized as hope.""Precisely�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Shawn took a moment to think about this solution, and agreed with his secretary. The clients who owed them money were long standing friends and professional resources of Simmons. Just because they were experiencing difficulties paying their own bills now, Shawn was very concerned about losing these relationships. Shawn knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. 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 Kay, and thankyou."" Kay nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Shawn keep the shirt on his back, and possibly hers too.Shawn 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 Simmons 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, Simmons 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 Jim about this,"" Shawn muttered to himself.Jim is Shawn's son-in-law, and he really admired the ideas behind Simmons, so much so that only two years before he had started his own transportation service business. Shawn knew then what struggles Jim would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Simmons was hurting, a little guy like Jim 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 short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Shawn was beginning to find his way out of the hole his debtors had created for him.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They took that time and refocused effort to offering competitive prices in new territories. Shawn looked back on the dismal months of life before freight factoring and almost shuddered at the thought. He probably wouldn't be in business today had he not learned just in time about freight factoring.

 

"

 

Athens (formally known as Athens-Clarke County) is a consolidated city�county in the U.S. state of Georgia, in the northeastern part of the state, comprising the former city of Athens proper (the county seat) and Clarke County. The University of Georgia, the state's flagship public research university, is located in this college town, and contributed to its initial growth. In 1991, after a vote the preceding year, the original city abandoned its charter to form a unified government with Clarke County, referred to collectively as Athens-Clarke County.[2] As of the 2010 census, the consolidated city-county (including all of Athens-Clarke County except Winterville and a portion of Bogart) had a total population of 115,452; all of Clarke County had a population of 116,714.[3] Athens is the fifth largest city in Georgia, and the principal city of the Athens-Clarke County, Georgia Metropolitan Statistical Area,[4] which had a population of 192,541 as of the 2010 census.[5] Athens-Clarke County has the smallest geographical area of a county in Georgia.

 

 

More Trucking Factoring Companies Story Articles

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

 

Jeffery�s father had started as an owner-operator and had grown Cruz Trucking Company into a fifteen trailer fleet over forty years. Yes, they had survived some very difficult times when it appeared like they might go under, and even Jeffery'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 Jeffery�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 had families and household bills too. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. Every time he had to turn down a request, Cruz Trucking looked weak in a very strong market.

 

His father would have told him to wait and to take his time adding on new technology. Jeffery allowed himself a good hard chuckle. 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). He knew his father's days were long gone and new technology was very important for the business, like having Qualcomm to reduce communication time for bills of lading.

 

Jeffery believed a successful man is always thinking of his next step. How would he take Cruz Trucking to the next level? More importantly, how could he afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. 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 like a ninth grade math problem and he wondered how this would fit into the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Jeffery had to really consider what his next step was going to be. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. 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. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. He was more than happy with the figures he was offered in percentage terms on the freight bills. It was good money.

 

It was really refreshing dealing with the factoring people. They were more personable than those loan managers at the bank. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar for a handout. The factoring companies were not interested in his credit nor the financial problems his father had experienced in the past. Factoring was based on the credit of his customers and on their reliability which worked well for Jeffery 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 Cruz 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.

 

Jeffery stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. He suddenly realized that, with this new cash flow, he could actually expand Cruz 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 Lawrence Holmes, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�No, not exactly,� she said.Lawrence Holmes 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 Willard. He named his business Chavez Trucking, named after Brett and Brian, his two grandfathers. Both of these men had been very hardworking and had set a great example for Willard.Disaster had struck half a year ago, when two trucks in Willard�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. Lawrence depended on his full fleet, and missing two trucks was 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.Lawrence was an excellent business man, and he certainly hadn't done anything wrong. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.That�s where the woman across the desk came in. Lawrence knew she was employed by a Factoring company and that her name was Angela. Lawrence had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.She sat there now, and explained. �it is really not a loan at all: we actually buy your accounts receivable. We 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.Lawrence agreed. It sounded good to him, almost too good.Angela laughed. �I'm not sure that you believe me,� she said.�Oh no, I do: it just sounds too good to be true. I actually thought I might end up losing my business.�Angela smiled, agreeing. �Yes, we get a lot of that. Listen, I�d hate to see you lose your company. You work hard, you�ve put everything you can into it. We all need help sometimes. That�s what we�re here for.""In any case, thank you for coming to see me.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Angela with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Lawrence filled the form out, with Angela available to help him if he needed it. The completed profile gave Angela and her company all the information they needed on Willard's business, and with this information they would determine if this business would in fact be suitable for Factoring. In truth, not all companies were. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. Listening as Lawrence filled out his form, Angela was pretty sure he was a perfect candidate for factoring.When the form was done Angela took it and slid it into her briefcase. She then stood, reached across the desk and shook Willard�s hand. He also stood up, and they smiled at each other. Lawrence walked Angela to the door where they said 'Goodbye', then he went back into his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He shut his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. But now, after speaking to Angela 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 knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.His mind wandered back to the very beginning, when he first started his business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been successful. Home cooking in his hometown, and he had done very well.But he had gotten bored. His passion didn�t lie with the food industry. He thought long and hard, and then he decided to sell the restaurant. He took six months off, and during that time he decided to create Chavez Trucking. So he did it. For the second time in his short life he created 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 was concerned that he just did not have the energy left to try and save the business. But he couldn�t give up. The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He didn�t know how to say quit.And now it seemed as though he would not have to - all because of Factoring. Lawrence opened his eyes, sat forward, turned his computer on. He had things to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

"

 

 

 

More Trucking Factoring Company Story Articles

The key reasons why Trucking Firms Make use of Factoring Firms.

 

As the owner of your own business, you may be much more than perceptive already of the difficulty in making sure that cash flow matters do not become a predicament down the line. Anyway, the toughest thing that can in all probability occur for your establishment is to find yourself dragged in a long and troublesome condition that leaves you forever searching for the funds you really need on an continuing manner.

 

For any sort of establishment in this predicament, the problem can come for waiting for work to lapse and actually be repaid into your account. Statements, checks, and the like could take some time to actually to be taken care of which can easily leave you with momentary cash flow problems. Fortunately, there are opportunities out there for establishments to investigate-- and among these is factoring firms.

 

Factoring agencies will, in substitution for your invoices, give you with the money today so that you do not have to fret about the waiting period which could make paying out the expenses and getting materialsmore complicated. With this sort of system, invoice factoring can end up being tremendously practical for countless businesses who ought to get out of a cash lure which they have discovered themselves in.

 

Because, depending on the size of the task, it can take up to 60 days for a number of enterprises to get paid then it is critical to take care of your own back and not leave yourself cash short to pay off the monthly bills. After all, how many companies have two months profits just occupying there to pay for all their spendings until they get paid?

 

This is especially true of trucking enterprises. They usually handle numbers of accounts which means a considerable volume of collection time entails company owner themselves. Making an effort to get paid out in time can develop into an incredible trouble and this is the key reasons why you work with trucking factoring companies who are pleased to help out truckers specifically.

 

As we all determine, trucking is an extremely large business with countless agencies out there utilizing hundreds of operators. Regrettably, numerous of these drivers land up in cash troubles since they are still anticipating work from six weeks ago to actually compensate them. When this is the case for a trucking organization, turning to factoring agencies for help may be the best option left.

 

This indicates that a trucking company can pay the wages of the workers, keep all the vehicles loaded with fuel and continue to scale, evolve and expand without consistently waiting for the funds which is taking too prolonged to come in. Trucking Companies running without a factoring program established are leaving themselves at critical risk, as competitors cash out rapidly and continue to grow.

 

There's honestly not a thing to be worried about when it comes to making use of a Factoring contractor-- they usually are not like a financial institution or somebody who is going to leave you with a large pile of financial debt to repay. You give them legitimate invoices from work you have already accomplished , you are only just facilitating the payment system.

 

In the United states of America, where truck agencies thrive, factoring firms are not considered getting a loan in any capacity. This confidential deal then lets both groups to profit and take pleasure in a comfortable future-- it gives the factoring firm a guaranteed resource of cash flow to put into the list and it furnishes the trucking business the required funds that they worked hard to gain.

 

The trucking enterprise gives their accounts to the factoring agency. The trucking factoring business then acquire the installment payments from the trucking company's clients. Factoring has beenaround for hundreds of years and has been used for long times by several diverse fields-- but none exceeding so than truckers. While you might lose out on a small part of the money, something like 1-3 % depending on who you partner with, it implies that you are getting the cash today and can actually start setting the funds to do work.

 

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

 

So the next period your trucking establishment is enduring some momentary cash flow challenges and you are shelling out way too much time chasing sluggish paying clienteles, why not begin looking at employing a factoring companies as a manner to get your cash and give yourself a more at ease future in the eyes of your trucking crew and your bank dividend?

 

 

 

 

 

 

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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. 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 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. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once 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. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

2. No Collateral Required. Another 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. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

3. You'll receive the money faster. Using a Trucking Factoring company means that you'll get the finance quicker. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.Interest is Paid Up Front. With a bank loan interest continues to build, and this has to be paid the whole time you have a business loan; however with a Trucking Factoring company there is no interest - they take it right off the top by deducting it from the total amount of receivable accounts. So 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. 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.A Trucking Factoring company is not the only method of gaining access to finance for the running and growing of your business, however it does offer a financing option well worth considering.

 

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Factoring Companies by City

 

 

 

 

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