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How To Make a Good Profits - Our Freight Invoice Factoring Company Can Give
Your Truck Company The Money Your Company Needs

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Factoring invoices is advantageous for numerous factors. It permits a trucking company to raise money without obtaining new debt. While financial obligation is in some cases required, the majority of freight broker firm would prefer to raise cash without borrowing money. Debt is high-risk, and when it can not be paid back, assets can be repossessed. If the debt is large enough, it could even force a trucking firms out of business.

 

 

 

 

 

 

 

Imagine Holding Your banker Spellbound for 30 Minutes - Choose A Trucking�Factoring Company  Instead Of A Regular Bank Funding

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

At one time or another, every business, even effective ones, have actually experienced poor 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 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 process of selling accounts receivable to an investor rather than waiting to gather the cash from the client. Oh, the Irony- Trucking factoring has an ironic difference: It is the monetary backbone of many of America's most effective businesses. Why is this ironic ? Because truck factoring is not taught in business colleges, is seldom discussed in business strategies and is fairly unknown to the majority of most of American company people.

Yet it is a monetary procedure that releases up billions of dollars every year, enabling thousands of businesses to grow and prosper. Accounts Receivable 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 financial obligation your client has actually to pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business deals, a large percentage of the retail company uses a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail transactions. Utilizing the purest definition of the word, these big customer finance business are truly simply big Receivable Loan Financing Businesses of consumer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The shop makes money practically immediately, even though you do not pay until you are ready.

For this service, the charge card company charges Sears a fee (typical common normal charges vary from two to 4 percent of the sale). The Advantages Accounts Receivable Factoring can provide many benefits to cash-hungry companies. Rather than wait 30, 60, 90 days or longer for payment on a product that has actually already been delivered, a business can factor (sell) its receivables for money at a small discount off the dollar value of the invoice. Payroll, marketing efforts, and working capital are simply a few of the business requirements that can be satisfied with instant  money.

Truck Factoring provides the means for a manufacturer to replenish inventory and make even more items to offer: There is no longer a need to await for earlier sales to be paid. FACTORING is not simply a money management device for manufacturers: Almost any kind company can benefit from Receivable Loan Financing. Generally, a business that extends credit will have 10 to 20 percent of its yearly 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 bill or today s payroll with a customer s invoice, however you can sell that invoice for the cash to satisfy those obligations. Using trucking factoring companies is a quick and easy process. The factoring company buys the invoice at a discount, usually a couple of percentage points less than the stated value of the invoice.

 

 

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bakersfield-factoring-companies

 

The U.s. Trucking Organization
states that there are about
195,000 truck drivers with truck
businesses and
276,000 private service providers trucking
firms accredited to
run in the States that transported,
according to their newest data of millions
products, materials and
fundamental products .
There are several usual
providers either going solo or in
groups on our country
roads transporting these
crucial products to our
shops, manufacturing facilities and shipping ports.

Also freight bill factoring
companies aid
many 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

 

Bakersfield�s historic and primary industries have related to Kern County�s two main industries, oil and agriculture. Kern County is the most oil productive county in America, with around 10% of the nation�s domestic production. Kern County is a part of the highly productive San Joaquin Valley, and ranks in the top five most productive agricultural counties in the nation. Major crops for Kern County include: grapes, citrus, almonds, carrots, alfalfa, cotton, and roses. The city serves as the home for both corporate and regional headquarters of companies engaged in these industries.Bakersfield also has a growing manufacturing and distribution sector. Several companies have moved to Bakersfield because of its inexpensive land and access to the rest of America, as well as international ports in both Los Angeles and Oakland. Other companies have opened regional offices and non-oil/agricultural businesses because of Bakersfield�s and Kern County�s business friendly policies, such as having no local utility or inventory taxes. Products manufactured in the city include: ice cream (world�s largest ice cream plant), central vacuums, highway paint, and stock racing cars.Bakersfield is the largest city with the lowest sales tax in California at the state minimum of 7.25%Bakersfield, city (1990 pop. 174,820), seat of Kern co., S central Calif., at the southern end of the San Joaquin valley; inc. 1898. It is an oil, mining, and agricultural center and one of the fastest-growing U.S. cities. Since the Kern River oil fields were discovered in 1899, almost all of the major oil companies have established refineries in Bakersfield. Gold was discovered in the region in 1855 and silver, borax, gypsum, and tungsten are now mined. Manufactures include chemicals, apparel, food and beverages, construction materials, fabricated metal products, paper and rubber goods, and computers. Cotton, citrus fruits, potatoes, nuts, and roses are grown in the area and there is dairying. California State Univ. Bakersfield is there, and there are major aerospace facilities, including Edwards Air Force Base. Sequoia National Forest is nearby.

 

 

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

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

 

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

 

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

 

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

 

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.

 

 

"

George 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 heady times from 2002 to 2007, George was a top rated accounts receivable mastermind of the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. 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 to a crawl

 

. Worse still, it was noticed by George 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. Spring changed to summer, summer changed to fall, and the CEO of George, Claude West, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. There was a growing list of clients who now owed them back debt.He had gone to his administrators and asked them what the problem had been. Were they doing something wrong or different when it came to reaching out to delinquent 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. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of George hadn't gone elsewhere. The had just gone!.This current state-of-affairs was causing Claude West to have some very restless nights. 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. In the evenings he would discuss his concerns with his wife, Joy, and still find no relief from the worry and frustration.

 

""Lin, I have a really bad feeling,"" he would say with deep woe.""What could you do differently?"" she would ask.Claude 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 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 on earth was happening to create the death of his business?""I know what it is,"" said Claude. ""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."" All Joy 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'.""Claude 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 following day Claude walked into his office with a spring in his step, determined to call each and every client who owed money to George 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, Claude knew that he was in trouble.

 

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

 

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

 

""Sure thing Mary, come on in."" Claude relaxed back into his chair and looked up at Maryerley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Claude."" 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 of 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.""Immediately?"" Claude interrupted.""Immediately, yes"" she added, ""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. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.""I see,� Claude 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.

 

This company tells us what the cost will be to purchase factoring for our accounts receivable. We come to an agreement and the funding starts pouring out.�Leaning forward, Claude studied the documents very closely.""I do not know, Mary - it just sounds too good to be true"", Claude said quietly.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Claude: 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, Claude,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" asked Claude.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. Apparently they can figure this all out in two to four days.

 

""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. 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 Claude.Claude took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Precisely�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Claude 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 George. Just because they were experiencing difficulties paying their own bills now, Claude was very concerned about losing these relationships. 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. He did not want to lose business but he also did not want to lose any more money.""Let me go over this tonight Mary, and thankyou."" Mary stood up and left Claude's office, with the nice feeling of knowing that she may just have solved a very serious problem.Claude sat behind his desk and looked over the details Mary had not mentioned in their meeting. What other issues could freight factoring help George 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, George 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 Alan about this,"" Claude muttered to himself.Claude's son-in-law, Alan, loved the idea behind George and highly respected his father-in-law for having such great business sense, that two years ago he got his capital together and started his own transportation company. Claude knew then what struggles Alan would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as George was struggling then the little guys, like Alan, were going to be in even more trouble.

 

But, maybe the answer for both of them was in freight factoring, and Claude was going to find out very soon.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Claude 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. Claude 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.

 

"

 

Bakersfield�s historic and primary industries have related to Kern County�s two main industries, oil and agriculture. Kern County is the most oil productive county in America, with around 10% of the nation�s domestic production. Kern County is a part of the highly productive San Joaquin Valley, and ranks in the top five most productive agricultural counties in the nation. Major crops for Kern County include: grapes, citrus, almonds, carrots, alfalfa, cotton, and roses. The city serves as the home for both corporate and regional headquarters of companies engaged in these industries.Bakersfield also has a growing manufacturing and distribution sector. Several companies have moved to Bakersfield because of its inexpensive land and access to the rest of America, as well as international ports in both Los Angeles and Oakland. Other companies have opened regional offices and non-oil/agricultural businesses because of Bakersfield�s and Kern County�s business friendly policies, such as having no local utility or inventory taxes. Products manufactured in the city include: ice cream (world�s largest ice cream plant), central vacuums, highway paint, and stock racing cars.Bakersfield is the largest city with the lowest sales tax in California at the state minimum of 7.25%Bakersfield, city (1990 pop. 174,820), seat of Kern co., S central Calif., at the southern end of the San Joaquin valley; inc. 1898. It is an oil, mining, and agricultural center and one of the fastest-growing U.S. cities. Since the Kern River oil fields were discovered in 1899, almost all of the major oil companies have established refineries in Bakersfield. Gold was discovered in the region in 1855 and silver, borax, gypsum, and tungsten are now mined. Manufactures include chemicals, apparel, food and beverages, construction materials, fabricated metal products, paper and rubber goods, and computers. Cotton, citrus fruits, potatoes, nuts, and roses are grown in the area and there is dairying. California State Univ. Bakersfield is there, and there are major aerospace facilities, including Edwards Air Force Base. Sequoia National Forest is nearby.

 

 

More Trucking Factoring Companies Story Articles

"

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

 

More than forty years ago Clarence's father had started this business working as an owner-operator and eventually growing Foster 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 Clarence'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 Clarence�s hands and he wanted to live to see it in better shape for his sons.

 

To move Foster Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. His employees needed to be paid. 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 Foster Trucking look inefficient and weak in what was currently a strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Clarence allowed himself a good hard chuckle. His father had been against placing 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.

 

Clarence believed a successful man is always thinking of his next step. How would he take Foster 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.

 

He wondered about factoring - was this the answer for him? 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. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Now it was time for Clarence to do his homework. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost 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?

 

However, it all turned out to be very simple. 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. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. He was more than happy with the figures he was offered in percentage terms on the freight bills. It was good money.

 

It was really refreshing dealing with the factoring people. 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 Clarence 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 would not have any problems, nor would they think poorly of Foster Trucking, because the factoring companies handle themselves in such a polite and professional manner, similar to the way his father had managed the business in the past.

 

Clarence stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. With the capabilities of this new cash flow, Clarence could actually expand Foster Trucking Company further across the country and perhaps even go international into Canada. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

"

 

 

 

 

Jklfunding.Com

 

Factoringbusiness.Co.Uk

 

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Trucking Factoring  Articles

"

�So, this is not a loan?� asked Marcus Lee, reclining back into his chair and crossing his legs. The woman sitting across the desk from Marcus smiled at him, shaking her head.�No, not exactly,� she stated.Marcus was the owner of a small trucking company which had fallen on some hard times recently. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Glenn. He named his business Daniels Trucking, named after James and Clinton, his two grandfathers. Both of these men had been very hardworking and had set a great example for Glenn.Six months ago disaster struck Glenn's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. Marcus depended on his full fleet, and missing two trucks was devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Marcus had on hand.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

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.Marcus wasn�t a bad owner, and he hadn�t messed up. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.That�s where the woman across the desk came in. Her name was Vanessa and she worked for a factoring company. Marcus 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 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.Marcus nodded. It sounded good to him, almost too good.The woman laughed. �I'm not sure that you believe me,� she chuckled.�Oh no, I do: it just sounds too good to be true. I actually thought I might end up losing my business.�Vanessa nodded. �Yes, we get a lot of that. 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.""Well, I'm very grateful that you came to see me today.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� Vanessa said with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Marcus filled the form out, with Vanessa available to help him if he needed it. The completed profile gave Vanessa and her company all the information they needed on Glenn's business, and with this information they would determine if this business would in fact be 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. As Marcus completed his form, Vanessa listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Vanessa took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Glenn�s hand. He stood before they shook as well, and then smiled. They said their goodbyes and Marcus walked her to the door, and then returned to his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He shut his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. But now, after speaking to Vanessa and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.The long nights, where he couldn�t sleep. The sudden panic attacks, not matter where he was. He could feel it all fading away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. 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.Marcus couldn�t help but think back to when he had first started the 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. 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 six months off, and during that time he decided to create Daniels Trucking. So he did it. Once again he built a company from the ground up. He had been successful.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. 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 did not want to quit - both for himself and for his staff members.And now it seemed as though he would not have to - all because of Factoring. Glenn's eyes opened, he sat forward in his chair and turned on his computer. He had lots to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

Why Trucking Corporations Utilize Factoring Companies.

 

As the owner of your own business enterprise, you may well be more than knowledgeable already of the challenge in making certain that capital concerns do not become a predicament down the line. After all, the most terrible thing that can quite possibly develop for your business is to find yourself embroiled in a long and difficult predicament that leaves you forever searching for the finances you really need on an recurring manner.

 

For just about any firm in this predicament, the problem can come for waiting for work to lapse and actually be paid into your account. Invoices, checks, and the like could take some time to actually to beprocessed which can easily leave you with temporary available resources difficulties. Thankfully, there are alternatives out there for industries to investigate-- and one of these is factoring agencies.

 

Factoring providers will, in trade for your accounts, supply you with the resources now in order that you do not have to worry about the waiting time span that could make paying the expenses and purchasing materialsmore difficult. With this kind of arrangement, invoice factoring can come to be incredibly helpful for many firms who need to avoid a money pitfall which they have found themselves in.

 

Because, depending on the size of the task, it can take up to 60 days for several firms to get compensated then it is necessary to take care of your own back and certainly not leave yourself money short to pay off the costs. After all, how many establishments have two months income just occupying there to deal with all their spendings till they make money?

 

This is primarily correct of trucking firms. They have the tendency to deal with bunches of invoices which means a substantial amount of collection period entails business owner themselves. Trying to get compensated promptly can develop into an unbelievable difficulty and this is why you utilize trucking factoring companies who are delighted to help out truckers primarily.

 

As most of us understand, trucking is an remarkably enormous business with countless organizations out there hiring hundreds of vehicle drivers. Unfortunately, numerous of these drivers wind up in income dilemmas for the reason that they are still anticipating work from six weeks earlier to actually pay them. When this is the situation for a truck agency, consulting factoring providers for support maybe the best choice left.

 

This means that a trucking organization can provide the wages of the workers, keep all the trucks filled with gas and continue to scale, rise and expand without constantly waiting for the resources which is taking too lengthy to come in. Trucking Enterprises functioning without a factoring program applied are leaving themselves at critical risk, as rivals cash out rapidly and carry on to develop.

 

There's absolutely not a thing to be distressed about when it comes to utilizing a Factoring contractor-- they usually are not like a bank or an individual who is going to leave you with a substantial heap of debt to pay back. You give them genuine invoices from output you have already completed , you are only just speeding up the repayment process.

 

In the Usa, where trucking agencies flourish, factoring establishments are not considered taking on loan in any capacity. This confidential agreement then permits both parties to benefit and indulge in a worry-free future-- it gives the factoring company a secured resource of profit to include in the list and it supplies the trucking business the needed cash that they sweated to earn.

 

The trucking enterprise gives their accounts to the factoring firm. The trucking factoring company then collect the installment payments from the trucking company's customers. Factoring has been all around for centuries and has been adopted for several years by numerous different industries-- but none more so than truckers. While you could lose out on a small part of the money, something like 1-3 % depending on who you collaborate with, it signifies that you are receiving the money today and can actually start off putting the cash to do work.

 

After all, an IOU or an invoice is not actually going to finance spendings, is it? For trucking enterprises when the resources can be excellent one day and gone the next, it is up to the drivers to work smartly and to make sure that they are leaving themselves with a substantial measure of time and money to get through the week until they are paid for again.

 

So the next moment your trucking enterprise is bearing some momentary cash flow concerns and you are spending a lot of time chasing sluggish paying clienteles, why not start off looking at making use of a factoring businesses as a way to get your cash and give yourself a more convenient future in the eyes of your trucking personnel and your bank balance?

 

 

 

 

 

 

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Traditional Bank Loans

 

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

 

Trucking Factoring Companies

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. 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 you have set up Trucking Factoring account it continues as long as you wish it too and the amount of money available to you even can grow as your business grows, giving you the ready cash you need to meet your own obligations.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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

 

1. There is no debt. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets to pay off a loan. 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. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This means that it is easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.

 

3. You'll receive the money faster. With a Trucking Factoring company you can actually get the money you need faster. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.

 

4.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. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The 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 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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