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Little Cash Flow Leaks That Keep Companies Poor -
Our Receivables Factoring Rates
Can Give
Your Truck Company
The Money You Need

Factoring Companies

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They Grinned When the Banker Spoke to Me in French - Select 

A Trucking�Factoring Company  Instead Of A Regular Bank Funding

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

 

Your Company may well have become aware of trucking receivables factoring but you could mistake exactly what it is or even more significantly exactly what it can possibly do for your business. Trucking Factoring also understood as receivables financing is a form of asset based financing that will enhance a company's short-term cash flow. It is not a loan; no debt obligation is assumed by Receivable Financing ,and the financing is unrestricted. Factoring Financing Companies in Invoice Factoring Line Of Credit Factoring Companies at Cashaccountsreceivable.org- furnishing receivables lines of credit facilities -factoring-companies

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Once and for all, an IOU or an invoice is not going to pay for costs, is it? For trucking firms when the income can be excellent one day and gone the next, it's up to the vehicle drivers to work sensibly and to ensure they are leaving themselves with a substantial volume of time and money to get through the week until they are compensated again.

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Factoringaccount.Org

Trucking Invoice Factoring Companies

For any kind of establishment in this scenario, the problem can come for waiting for work to clear up and actually be paid into your balance. Statements, checks, and the like can take a while to actually to beprocessed which can leave you with momentary available resources problems. Gratefully, there are opportunities out there for companies to examine-- and one of these is factoring agencies.

 

 



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Transportation Factoring Company

Once and for all, an IOU or an invoice is not going to pay for costs, is it? For trucking firms when the income can be excellent one day and gone the next, it's up to the vehicle drivers to work sensibly and to ensure they are leaving themselves with a substantial volume of time and money to get through the week until they are compensated again.

 

 



Accountreceivablefactoring.Biz

"

Uvalde City HallUvalde is a city in and the county seat of Uvalde County, Texas, United States.[3] The population was 15,751 at the 2010 census.[4]Uvalde was founded by Reading Wood Black in 1853 as the town of Encina. In 1856, when the county was organized, the town was renamed Uvalde after Spanish governor Juan de Ugalde (C�diz, Andaluc�a, 1729-1816) and was chosen as county seat. It is usually considered the southern limit of the Texas Hill Country or the most northerly part of South Texas. Historically, Uvalde is known as the Honey Capital of the World for production of huajillo (also spelled guajillo) honey, a mild, light-colored honey, dating back to the 1870s.Uvalde was the home of John Nance ""Cactus Jack"" Garner, former Speaker of the House and Vice President of the United States. Oscar-winning actor Matthew McConaughey, actress Dale Evans, and former Governor of Texas Dolph Briscoe (after whom the post office is named), were born in Uvalde. The city is also home to the Grammy Award-winning Tejano/Norte�o group Los Palominos.The Uvalde Area Chamber of Commerce lists the following organizations in the Uvalde Area. Some are social or volunteer organizations, but most are employers. [9]

 

"

 

"Mineral resources compete with industry for primary economic importance in Texas. The state is the leading U.S. producer of oil, natural gas, and natural-gas liquids, despite recent production declines. It is also a major producer of helium, salt, sulfur, sodium sulfate, clays, gypsum, cement, and talc. Texas manufactures an enormous variety of products, including chemicals and chemical products, petroleum, food and food products, transportation equipment, machinery, and primary and fabricated metals. The development and manufacture of electronic equipment, such as computers, has in recent decades become one of the state's leading industries; the area around Dallas�Fort Worth has become known as ""Silicon Prairie,"" a name now also extended to Austin and its suburbs. Agriculturally, Texas is one of the most important states in the country. It easily leads the nation in producing cattle, cotton, and cottonseed. Texas also has more farms, farmland, sheep, and lambs than any other state. Principal crops are cotton lint, grains, sorghum, vegetables, citrus and other fruits, and rice; the greatest farm income is derived from cattle, cotton, dairy products, and greenhouse products. Hogs, wool, and mohair are also significant. Among other important Texas crops are melons, wheat, pecans, oats, and celery. Texas also has an important commercial fishing industry. Principal catches are shrimp, oysters, and menhaden"

 

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

Cash flow does not have to be a problem any ever more. Do not be deceived -- banks are not the only locations you can get funding. Other solutions are offered and you do not have to borrow money. Exactly what is truck factoring ? One solution is called receivables factoring rates. Truck Factoring is the process of selling invoices to a financier rather than waiting to collect the cash from the client. Oh, the Irony- Truck factoring has a paradoxical difference: It is the financial backbone of many of America's most successful companies. Why is this paradoxical ? Since factoring is not instructed in business colleges, is seldom discussed in company plans and is fairly unidentified to bulk of most of American company people.

Yet it is a monetary process that frees billions of dollars every year, allowing countless businesses to grow and prosper. Receivable Funding has been around for thousands of years. Commercial Factoring Businesses are financiers who pay cash 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 agreed pay in the near future. Factoring Principals--Although factoring offers solely with business-to-business transactions, a large percentage of the retail company utilizes a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail deals. Using the purest meaning of the word, these large consumer finance business are truly simply large Truck Factoring Businesses of customer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The store gets paid almost instantly, even though you do not make payment up until you are ready.
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For this service, the charge card business charges Sears a charge (typical common normal fees vary from 2 to four percent of the sale). The Advantages Receivable Loan Funding can offer numerous benefits 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 money at a small price cut off the amount of the invoice. Payroll, marketing efforts, and working capital are simply a few of the business requirements that can be satisfied with instant  cash.

Receivables Factoring Rates provides the means for a manufacturer to renew inventory and make more items to offer: There is no longer a need to await for earlier sales to be paid. Receivable Loan Financing is not simply a cash management tool for manufacturers: Practically any type business can benefit from FACTORING. 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 bound 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 money to satisfy those obligations. Using trucking factoring companies is a fast and simple procedure. The factor buys the invoice at a discount, typically a few percentage points less than the face value of the invoice.

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The American Truck Organization
states that there around
205,000 truck drivers with truck
firms and
300,000 personal service providers trucking
companies licensed to
run in America that carried,
according to their newest listings of millions of
items, materials and
standard products .
There are several usual
carriers either going solo or in
teams on our country
roads carrying these
crucial items to our
shops, manufacturing facilities and ports.

Moreover  freight bill factoring
companies benefit
numerous of them and offer their
receivables financing facilities
countrywide comprising
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

Cash Receivables Factoring Companies

 

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

 

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.

 

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

 

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

 

 

 

Watch Our Factoring Videos For More Information

 

 

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Freight Factoring Definition

 

"

�So It is not a loan?� Alfred Freeman asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Alfred smiled at him, shaking her head.�Not quite,� she said.Alfred Freeman 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 Ryan. His company was called Arnold Trucking, named after both of his grandfathers, Leon and Bill. Both of these men had been very hardworking and had set a great example for Ryan.Disaster had struck half a year ago, when two trucks in Ryan�s fifteen truck fleet went down. One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. The financial security of Ryan's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Alfred had on hand.A big problem a lot of trucking companies came across was how bills were paid in the industry. Waiting a month or longer for bills to be paid was quite normal. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Alfred wasn�t a bad owner, and he hadn�t messed up. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.That�s where the woman across the desk came in. Her name was Phyllis and she worked for a factoring company. Alfred 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.Phyllis explained. �it is really not a loan at all: we actually buy 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.Alfred agreed. It sounded good to him, almost too good.Phyllis laughed. �You look like you don�t believe me,� she said.�Oh no, I do: it just sounds too good to be true. I thought I was going to lose my company.�Phyllis 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.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� said Phyllis with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Alfred completed the form, with Phyllis offering advice as needed.

 

The profile filled Phyllis and her company in on Ryan�s company, and would help them determine if he was suitable for factoring. Unfortunately, not all companies are. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. Listening as Alfred filled out his form, Phyllis was pretty sure he was a perfect candidate for factoring.Phyllis took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Ryan�s hand. He stood before they shook as well, and then smiled. Alfred walked Phyllis to the door where they said 'Goodbye', then he went back into 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. Talking to Phyllis though, learning about factoring, it felt like a weight had been lifted from his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.The long nights, where he couldn�t sleep. The sudden panic attacks, not matter where he was. He could feel it all fading away. He 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.His mind wandered back to the very beginning, when he first started his business. At twenty-two and straight out of school he had opened a restaurant. It had been 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 long and hard, and then he decided to sell the restaurant. He took half a year off, and in that time he thought to start Arnold Trucking. And that's exactly what he did. 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 he couldn�t give up. 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, because of factoring, he was sure he wouldn�t have to. Ryan'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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"

Since the mid 1980s Simpson Truck & Haul have been successfully running their freight business. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the heady times from 2002 to 2007, Simpson 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. The money was flowing, and times were great.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 down. And worse yet, Simpson had noticed during the early part of 2008 that though the bulk of their clients were always on time with payments, the few late-bloomers there were, had seemingly started to spread this illness. And as spring turmed to summer and summer into the early days of fall, Kyle Washington, CEO of Simpson 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 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 Simpson 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 Simpson hadn't gone elsewhere. The had just gone!.The situation looked dire to Kyle Washington. He had employees to pay, goods to ship, trucks to maintain and overhead that was almost unbearable when compared against the lack of funds that were coming in. At night he would speak to his wife Ellen and shake his head in frustration.

 

""I have a bad feeling, Lin,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would say.Kyle 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 somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. Why couldn�t he work out how to resolve this financial problem with his business?""I think I know what it could be,"" said Kyle. ""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."" All Ellen 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'.""Ellen was trying so hard to support her husband in these worrying times, while Kyle was weighed down with the worry of how he was going to handle this situation he found himself in.The next day Kyle strolled into his office and was determined to sit down and make every phone call to every client who had owed Simpson money. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. A waste of time - a waste of money - he had the best intentions, but all the while Kyle was realising just how much trouble he was in.Poor Kyle 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.

 

""Can I have a word with you Kyle?"" she asked standing in the doorway.

 

""Sure thing Nina, come on in."" Kyle leaned back in his chair and looked expectantly at Ninaerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Kyle."" 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?"" Ninaerley asked.""It sounds vaguely familiar. What is factoring""? he asked.""Well,"" she began, ""It�s actually quite simple really.

 

Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Kyle interrupted ""Immediately?"".""Immediately, yes"" she added, ""In a nutshell, it is pretty easy. We can have an expert account manager review our numbers and help us complete a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It provides a very broad view.""Kyle replied cautiously ""I see - and what happens then?""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.

 

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.�Kyle was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""I do not know, Nina - it just sounds too good to be true"", Kyle said quietly.""Now, now, I know, I thought the same thing. But think about it, Kyle: 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. And they're flexible Kyle,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" asked Kyle.""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.

 

""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. 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,"" Kyle said.Kyle 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.""Kyle took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Simpson Truck & Haul were professional resources of the company, but they were also long-standing friends. Just because they were experiencing difficulties paying their own bills now, Kyle was very concerned about losing these relationships. Kyle knew only too well that the whole economy was floundering, and that it was not going to change overnight. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both 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 Nina, and thankyou."" Nina stood up and left Kyle's office, with the nice feeling of knowing that she may just have solved a very serious problem.Kyle sat behind his desk and looked over the details Nina had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Simpson Truck & Haul with? With his pencil gliding down the sheet he noticed that the factoring company could help fray the cost of fuel with fuel discount cards and fuel advances. In fact, Simpson 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 Shawn about this,"" Kyle muttered to himself.His son-in-law Shawn had liked the idea of Simpson so much and revered his father in law for having such business acumen that only two years before, he had gathered the venture capital to begin his own transportation service company. At that time Kyle knew the struggles Shawn would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Simpson was hurting, a little guy like Shawn was about to catch his death. But, an antidote may have been found in freight factoring and Kyle was soon to find out.Some months later, having successfully gone through the entire process of the application, having experts study his credit history and statements and review his accounts receivable, Kyle found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They used that time to refocus their efforts in being competitive in new territories. Kyle looked back on the dismal months of life before freight factoring and almost shuddered at the thought. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

 

 

 

 

 

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Truck Factoring Definition

 

Precisely why Trucking Agencies Use Factoring Firms.

 

As the owner of your own business, you may well be much more than aware already of the challenge in making sure that capital matters do not become a problem down the line. Anyway, the most awful thing that can quite possibly transpire for your firm is to find yourself swept up in a long and problematic condition that leaves you forever trying to find the money you need to have on an recurring manner.

 

For any kind of establishment in this scenario, the dilemma can come for waiting for work to lapse and actually be repaid into your account. Bill of sales, checks, and the like could take some time to actually to be taken care of which may leave you with momentary capital troubles. Luckily, there are solutions out there for industries to delve into-- and among these is factoring companies.

 

Factoring firms will, in substitution for your statements, supply you with the cash immediately so that you do not need to worry about the lingering phase which could make paying out the bills and purchasing toolsmore difficult. With this style of system, invoice factoring can become exceptionally useful for a lot of businesses who need to avoid a cash pitfall which they have gotten themselves in.

 

Due to the fact that, depending on the volume of the work, it can take up to 60 days for several companies to get paid then it is critical to blanket your own back and not leave yourself money short to settle the bills. After all, how many establishments possess two months cash flow just lying there to cover all their overheads until they make money?

 

This is specifically correct of trucking enterprises. They often handle lots of invoices which means a substantial amount of collection time entails business owner themselves. Attempting to get compensated promptly can end up being an unbelievable trouble and this is precisely why you make use of truck factoring organizations who are thrilled to help out truckers exclusively.

 

As we all realize, trucking is an incredibly large market with numerous organizations out there employing hundreds of operators. Sadly, many of these drivers end up in income problems considering that they are still waiting for work from six weeks ago to actually compensate them. When this is the situation for a trucking firm, resorting to factoring firms for aid maybe the ideal option left.

 

This signifies that a truck corporation can provide the wages of the crew, keep all the cars loaded with gas and continue to escalate, flourish and expand without consistently waiting for the money which is taking too long to come in. Trucking Companies working without a factoring program used are leaving themselves at critical threat, as contenders cash out rapidly and proceed to grow.

 

There's absolutely nothing at all to be troubled about when it comes to working with a Factoring company-- they usually are not like a financial institution or an individual who is going to leave you with a massive pile of personal debt to repay. You give them legitimate invoices from work you have already accomplished , you are only facilitating the repayment system.

 

In the United States, where truck agencies flourish, factoring enterprises are not considered borrowing in any capacity. This confidential settlement then allows both parties to benefit and take pleasure in a convenient future-- it provides the factoring agency a guaranteed resource of earnings to put into the list and it furnishes the trucking firm the needed funds that they worked hard to earn.

 

The trucking enterprise presents their invoices to the factoring firm. The trucking factoring company then take the payments from the trucking company's clients. Factoring has been all around for hundreds of years and has been utilized for many years by plenty of varying industries-- but none more so than truckers. While you may lose out on a small part of the money, something like 1-3 % depending upon who you collaborate with, it implies that you are receiving the funds today and can actually begin putting the resources to do work.

 

After all, an IOU or an invoice is not actually going to finance spendings, is it? For trucking enterprises when the hard earned cash can be good 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 considerable quantity of time and money to get through the week till they are paid for once again.

 

So the next period your trucking company is bearing some short-term cash flow issues and you are putting in excessive time chasing sluggish paying clienteles, why not start looking into employing a factoring companies as a means to get your cash and give yourself a more comfortable future in the eyes of your trucking staff and your bank balance?

 

 

 

 

 

 

 

More Truck Factoring Definition -Articles

 

 

 

Cash Receivables Factoring Companies

 

 

 

www.Factoringtruckinvoice.Com

 

 

 

Freight Factoring For Brokers

 

Factoring in the Future of a Trucking Business: A Story Antonio Hayes let the phone ring on his desk. He let his morning coffee cool and left his cigarette to ash itself in the tray, because he is trying to make the biggest decision ever for his trucking company. Hayes 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 Antonio's father had started this business working as an owner-operator and eventually growing Hayes 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 Antonio'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 Antonio�s hands and he wanted to live to see it in better shape for his sons.

 

To move Hayes 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 Hayes 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. Antonio chuckled, thinking about his father. He remembered when his father was totally against installing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. 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.

 

Antonio believed a successful man is always thinking of his next step. How would he take Hayes 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? There was a lot he didn�t understand about the process. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. 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 the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Now it was time for Antonio to do his homework. Antonio 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! 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. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

However, it all turned out to be very simple. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He was quite happy to sign 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. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. Many companies offered a non-recourse factoring program that suited him just fine. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It sounded like a great scheme to him.

 

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. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Antonio because he and his father had created a very strong and loyal list of clientele over the years. So he knew they would understand when the factoring company contacted them for the invoices. His clients would not have any problems, nor would they think poorly of Hayes 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.

 

Feeling happier now, Antonio stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. He suddenly realized that, with this new cash flow, he could actually expand Hayes 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.

 

 

 

 

 

 

 

More Freight Factoring For Brokers -Articles

 

 

 

 

 

 

 

 

Cash Receivables Factoring Companies

 

 

 

 

 

 

www.Factoringtruckinvoice.Com

 

Bill Factoring Freight Companies

 

Date Published- 2014- 01-13 Factoring Companies For Trucking Industry

 

"

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. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

What Are 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 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. 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. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. 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. 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. You'll receive the money faster. Using a Trucking Factoring company means that you'll get the finance quicker. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.

 

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

 

As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The most important benefits is that once you sell your accounts receivable to the factory company, you do not have to take time away from running your business to collect the money owed from reluctant to pay customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

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.

 

"
www.Factoringtruckinvoice.Com

 

 

 

 

 

More Freight Factoring For Brokers -Articles

 

 

 

"

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. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

What Are 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 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. 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. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. 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. 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. You'll receive the money faster. Using a Trucking Factoring company means that you'll get the finance quicker. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.

 

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

 

As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The most important benefits is that once you sell your accounts receivable to the factory company, you do not have to take time away from running your business to collect the money owed from reluctant to pay customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

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.

 

"