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How I Improved My Profits in One Evening - Our Freight Factoring Companies Can Provide
Your Truck Company The Money You Want

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Small freight businesses, especially those who have not been in existence for extremely long, will frequently discover it hard to secure a loan. Banks are typically reluctant to provide cash to companies that do not have a lot of earnings and properties. They also want proof of the viability of a company and thus need that the majority of operations, especially little ones, been around for a particular quantity of time prior to they are prepared to hand over any cash. Due to the fact that of this, a medium-size business typically has few money producing alternatives when needs arise. One option readily available, however commonly neglected, is factoring. This is an outstanding method for a small business to get money.

 

 

 

 

 

 

 

Six Types of Companies - Which Group Are You In? - Choose A Freight�Invoice Factoring Company  Instead Of A Typical Bank Funding

How to Increase Cash Flow Without Borrowing -Cash Money flow is one of the primary reasons companies fail.

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

Money flow does not have to be an issue any more. Do not be deceived -- banks are not the only locations you can get financing. Other solutions are offered and you do not have to borrow. Exactly what is truck factoring ? One solution is called trucking factoring. Trucking Factoring is the process of selling invoices to a financier rather than waiting to gather the cash from the client. Oh, the Irony- Trucking factoring has an ironic difference: It is the financial foundation of many of America's most effective businesses. Why is this paradoxical ? Because invoice factoring is not instructed in business colleges, is rarely mentioned in business strategies and is relatively unidentified to bulk of most of American business people.

Yet it is a monetary process that releases up billions of dollars every year, enabling countless companies to grow and succeed. Invoice Factoring has been around for countless years. Accounts Receivable Factoring Companies are investors who pay cash for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your client has to pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business deals, a big percentage of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a type of factoring in their retail transactions. Using the purest definition of the word, these big customer finance companies are really simply big Receivable Loan Financing Companies of consumer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The shop makes money practically immediately, even though you do not make payment up until you are prepared.

For this service, the credit card business charges Sears a fee (typical common normal fees range from two to 4 percent of the sale). The Benefits Staffing Factoring can provide numerous advantages to cash-hungry companies. Rather than wait 30, 60, 90 days or longer for payment on an item that has currently been provided, a company can factor (sell) its receivables for money at a little price cut off the dollar value of the invoice. Payroll, marketing efforts, and working capital are simply a few of the company needs that can be met with instant  cash.

Receivable Funding provides the ways for a manufacturer to replenish inventory and make more products to offer: There is no longer a requirement to wait for earlier sales to be paid. Receivable Loan Financing is not simply a cash management tool for manufacturers: Practically any type company can benefit from Factoring. Typically, a company that extends credit will have 10 to 20 percent of its annual sales bound in accounts receivable at any given time. Think for a minute about exactly how much is tied up in 60 days' worth of invoices: You can not pay the power expense or today s payroll with a client s invoice, however you can offer that invoice for the cash to satisfy those obligations. Using truck factoring companies is a quick and simple process. The factoring company buys the invoice at a price cut, typically a couple of portion points less than the face value of the invoice.

 

 

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The American Transportation Organization
states that there are about
195,000 truck drivers with truck
firms and
276,000 personal service providers trucking
firms accredited to
operate in America that carried,
according to their latest data of millions
items, supplies and
fundamental materials .
There are numerous usual
providers either going solo or in
teams on our country
highways carrying these
crucial products to our
stores, manufacturing facilities and ports.

Furthermore trucking factoring
companies aid
numerous of them and offer their
receivables financing services
nationwideincluding
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

 

"

Lubbock is a city in and the county seat of Lubbock County, Texas, United States. The city is located in the northwestern part of the state, a region known historically and geographically as the Llano Estacado and ecologically is part of the southern end of the Western High Plains. The city is home to three universities: Lubbock Christian University, Texas Tech University, and Texas Tech University Health Sciences Center. According to a 2013 Census estimate, Lubbock had a population of 239,538, making it the 84th most populous city in the United States of America and the 11th most populous city in the state of Texas. The city is the economic center of the Lubbock metropolitan area, which had an estimated 2013 population of 301,038.Lubbock's nickname is the ""Hub City"", which derives from it being the economic, education, and health care hub of a multicounty region, north of the Permian Basin and south of the Texas Panhandle, commonly called the South Plains. The area is the largest contiguous cotton-growing region in the world and is heavily dependent on irrigation water drawn from the Ogallala Aquifer. Lubbock was selected as the 12th best place to start a small business by CNNMoney.com. CNN mentioned the city's traditional business atmosphere, low rent for commercial space, its central location and cooperative city government. Lubbock High School has been recognized for three consecutive years by as one of the top high schools in the United States. Lubbock High School is home to the only international baccalaureate (IB) program in the region. The IB program is one of the criteria examined by in formulating their list of top high schoolsThe Lubbock area is the largest contiguous cotton-growing region in the world and is heavily dependent on federal government agricultural subsidies and irrigation water drawn from the Ogallala Aquifer. However, the aquifer is being depleted at an unsustainable rate in the long term. Much progress has been made in the area of water conservation, and new technologies, such as low-energy precision application (LEPA) irrigation were originally developed in the Lubbock area. The new pipeline from Lake Alan Henry is expected to supply up to 3.2 billion US gallons (12,000,000 m3) of water per year. Cone grain elevator, north side of LubbockAdolph R. Hanslik, who died in 2007 at the age of 90, was called the ""dean"" of the Lubbock cotton industry, having worked for years to promote the export trade. Hanslik was also the largest contributor (through 2006) to the Texas Tech University Medical Center. He also endowed the Texas Czech Heritage and Cultural Center's capital campaign for construction of a new library museum archives building in La Grange in Fayette County in his native southeastern Texas.The 10 largest employers in terms of the number of employees are: Texas Tech University, Covenant Health System, Lubbock Independent School District, University Medical Center, United Supermarkets, City of Lubbock, Texas Tech University Health Sciences Center, s, and Lubbock County. A study conducted by a professor at the Rawls College of Business determined that Texas Tech students, faculty and staff generate about $1.5 billion, with about $297.5 million from student shopping alone.Lubbock has one regional enclosed mall, and many other stores.Lubbock also has numerous open-air shopping centers, most located in the booming southwestern area of Lubbock. The Village and Kingsgate Shopping Centers, both located at the intersection of 82nd Street and Quaker Avenue, offer a unique blend of local and national retailers. . Lubbock is also home to high-end which has been in Lubbock since 1950.Lubbock's newest open-air shopping center, Canyon West,. Two more stages of development are planned. It is located at the intersection of Milwaukee Avenue and Marsha Sharp Freeway.

 

"

 

Watch Our Truck Factoring Companies YouTube Videos For More Information

 

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

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

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

 

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

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

 

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

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

 

Click below to find Trucking Companies in the United States:

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

Click below to find Trucking Companies in the United States:

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

Click below to find Trucking Companies in the United States:

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

 

"

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.

 

"

 

"

Lubbock is a city in and the county seat of Lubbock County, Texas, United States. The city is located in the northwestern part of the state, a region known historically and geographically as the Llano Estacado and ecologically is part of the southern end of the Western High Plains. The city is home to three universities: Lubbock Christian University, Texas Tech University, and Texas Tech University Health Sciences Center. According to a 2013 Census estimate, Lubbock had a population of 239,538, making it the 84th most populous city in the United States of America and the 11th most populous city in the state of Texas. The city is the economic center of the Lubbock metropolitan area, which had an estimated 2013 population of 301,038.Lubbock's nickname is the ""Hub City"", which derives from it being the economic, education, and health care hub of a multicounty region, north of the Permian Basin and south of the Texas Panhandle, commonly called the South Plains. The area is the largest contiguous cotton-growing region in the world and is heavily dependent on irrigation water drawn from the Ogallala Aquifer. Lubbock was selected as the 12th best place to start a small business by CNNMoney.com. CNN mentioned the city's traditional business atmosphere, low rent for commercial space, its central location and cooperative city government. Lubbock High School has been recognized for three consecutive years by as one of the top high schools in the United States. Lubbock High School is home to the only international baccalaureate (IB) program in the region. The IB program is one of the criteria examined by in formulating their list of top high schoolsThe Lubbock area is the largest contiguous cotton-growing region in the world and is heavily dependent on federal government agricultural subsidies and irrigation water drawn from the Ogallala Aquifer. However, the aquifer is being depleted at an unsustainable rate in the long term. Much progress has been made in the area of water conservation, and new technologies, such as low-energy precision application (LEPA) irrigation were originally developed in the Lubbock area. The new pipeline from Lake Alan Henry is expected to supply up to 3.2 billion US gallons (12,000,000 m3) of water per year. Cone grain elevator, north side of LubbockAdolph R. Hanslik, who died in 2007 at the age of 90, was called the ""dean"" of the Lubbock cotton industry, having worked for years to promote the export trade. Hanslik was also the largest contributor (through 2006) to the Texas Tech University Medical Center. He also endowed the Texas Czech Heritage and Cultural Center's capital campaign for construction of a new library museum archives building in La Grange in Fayette County in his native southeastern Texas.The 10 largest employers in terms of the number of employees are: Texas Tech University, Covenant Health System, Lubbock Independent School District, University Medical Center, United Supermarkets, City of Lubbock, Texas Tech University Health Sciences Center, s, and Lubbock County. A study conducted by a professor at the Rawls College of Business determined that Texas Tech students, faculty and staff generate about $1.5 billion, with about $297.5 million from student shopping alone.Lubbock has one regional enclosed mall, and many other stores.Lubbock also has numerous open-air shopping centers, most located in the booming southwestern area of Lubbock. The Village and Kingsgate Shopping Centers, both located at the intersection of 82nd Street and Quaker Avenue, offer a unique blend of local and national retailers. . Lubbock is also home to high-end which has been in Lubbock since 1950.Lubbock's newest open-air shopping center, Canyon West,. Two more stages of development are planned. It is located at the intersection of Milwaukee Avenue and Marsha Sharp Freeway.

 

"

 

More Trucking Factoring Companies Story Articles

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

 

Jorge�s father had started as an owner-operator and had grown Olson Trucking Company into a fifteen trailer fleet over forty years. Yes, they had survived some very difficult times when it appeared like they might go under, and even Jorge'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 Jorge�s hands and he wanted to live to see it in better shape for his sons.

 

To move Olson 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. Every time he had to turn down a request, Olson Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Jorge allowed himself a good hard chuckle. He remembered when his father was totally against installing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). 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.

 

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

 

He wondered about factoring - was this the answer for him? There was a lot he didn�t understand about the process. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. 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 the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Now it was time for Jorge 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. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He was quite happy to sign an exclusive contract. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. Many companies offered a non-recourse factoring program that suited him just fine. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It sounded like a great scheme to him.

 

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 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 Jorge 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 Olson 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.

 

Jorge stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. He suddenly realized that, with this new cash flow, he could actually expand Olson Trucking Company and who knows, move into Canada, which had always been his dream. His heart felt full knowing his sons wouldn�t have to worry about money because of the right decisions he had made for their trucking business.

 

 

 

 

 

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Trucking Factoring  Articles

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�So, this is not a loan?� asked Robertua Butler, reclining back into his chair and crossing his legs. The woman sitting across the desk from Robertua smiled at him, shaking her head.�No, not exactly,� she stated.Robertua 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 Robert. His company was called Neal Trucking, named after both of his grandfathers, Hector and Ken. They had both been hardworking men, and had done a lot to make Robertua the same.Disaster had struck half a year ago, when two trucks in Robert�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. Robertua 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 Robertua 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.Robertua was an excellent business man, and he certainly hadn't done anything wrong. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.That�s where the woman across the desk came in. Her name was Glenda and she worked for a factoring company. He had accidentally come across her company one night when he was working late, searching the internet to see if there was some solution to his financial dilemma.She sat there now, and 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. 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.Robertua agreed. It sounded perfect - perhaps too good?.Glenda laughed. �You look like you don�t believe me,� she said.�No, I do, I just think it sounds a bit too good to be true. I actually thought I might end up losing my business.�Glenda smiled, agreeing. �Yes, we get a lot of that. There's no way we want to see you lose your business. You work hard, you�ve put everything you can into it. Sometimes you need help. That's why we do what we do.""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,� said Glenda with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Robertua completed the form, with Glenda offering advice as needed.

 

The completed profile gave Glenda and her company all the information they needed on Robert'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. Listening as Robertua filled out his form, Glenda was pretty sure he was a perfect candidate for factoring.When the form was done Glenda took it and slid it into her briefcase. Standing up, she reached over the desk and shook Robert's hand. He also stood up, and they smiled at each other. They said their goodbyes and Robertua walked her to the door, and then returned to his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He leaned back and closed his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. Talking to Glenda though, learning about factoring, it felt like a weight had been lifted from his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.All those long, sleepless nights. 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 really successful. Offering home cooking in his own hometown, his business had really prospered.But it wasn't what he really wanted to do. His passion didn�t lie with the food industry. He thought 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 Neal 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 nearing 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 it seemed as though he would not have to - all because of Factoring. Robertua opened his eyes, sat forward, turned his computer on. He had lots to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

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More Trucking Factoring Company Story Articles

Reasons why Trucking Establishments Make use of Factoring Companies.

 

As the manager of your own firm, you may perhaps be more than wary already of the hardship in making sure that capital matters do not become a difficulty down the line. Anyway, the most unfortunate thing that can possibly occur for your company is to find yourself involved in a long and hard predicament that leaves you forever searching for the finances you necessitate on an ongoing manner.

 

For just about any firm in this situation, the issue can come for waiting for work to clear up and actually be compensated into your balance. Statements, checks, and the like can take some time to actually to be taken care of which may leave you with momentary cash flow troubles. Luckily, there are solutions out there for establishments to investigate-- and just one of these is factoring firms.

 

Factoring companies will, in trade for your bill of sales, supply you with the cash money now to make sure that you do not need to worry about the lingering phase that could make paying the expenses and acquiring toolsmore complicated. With this sort of system, invoice factoring can become extremely useful for numerous businesses who have to get out of a cash ploy which they have found themselves in.

 

Due to the fact that, depending on the volume of the task, it can take up to 60 days for some enterprises to get paid then it is crucial to take care of your own back and certainly not leave yourself cash short to settle the costs. After all, how many establishments have two months cash flow just occupying there to deal with all their expenditures till they get paid?

 

This is primarily correct of truck establishments. They tend to take care of numbers of statements which means a serious quantity of collection period entails business owner themselves. Making an effort to get paid in time can come to be an unbelievable struggle and this is exactly why you use trucking factoring firms who are delighted to help out truckers primarily.

 

As all of us know, trucking is an exceptionally large business with lots of firms out there handling hundreds of vehicle drivers. The sad thing is, several of these drivers end up in money issues considering that they are still expecting work from six weeks earlier to actually pay them. When this is the scenario for a trucking organization, depending on factoring providers for aid may be the most ideal choice left.

 

This implies that a trucking business can provide the paychecks of the staff, keep all the vehicles refilled with gas and continue to escalate, thrive and expand without always waiting for the finances which is taking too prolonged to come in. Trucking Companies operating without a factoring system implemented are leaving themselves at notable risk, as rivals cash out promptly and go on to expand.

 

There's genuinely very little to be troubled about when it comes to using a Factoring business-- they usually are not like a bank or somebody who is going to leave you with a big mass of personal debt to pay back. You give them authentic invoices from job you have already finished , you are just speeding up the repayment system.

 

In the Usa, where trucking companies develop, factoring companies are not considered getting a loan in any capacity. This confidential settlement then allows both groups to profit and delight in a good future-- it provides the factoring company a warranted resource of earnings to add to the list and it supplies the trucking company the needed cash that they worked hard to obtain.

 

The trucking firm bestows their invoices to the factoring firm. The trucking factoring company then receive the payment amounts from the trucking company's customers. Factoring has been all around for hundreds of years and has been adopted for long times by a lot of different industries-- but none more so than truckers. While you could miss out on a small part of the money, something like 1-3 % depending on who you partner with, it signifies that you are getting the money today and can actually start off putting the funds to perform.

 

Once and for all, an IOU or an invoice is not going to cover expenditures, is it? For trucking enterprises when the funds can be excellent one day and gone the next, it is up to the drivers to work sensibly and to ascertain they are leaving themselves with a notable amount of time and money to get through the week till they are compensated once more.

 

So the next occasion your trucking business is enduring some temporary cash flow issues and you are investing way too much time chasing slowly paying clients, why not start taking into consideration using a factoring companies as a method to get your finances and give yourself a more worry-free future in the eyes of your trucking workers and your bank dividend?

 

 

 

 

 

 

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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. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Once the loan is paid off, you can then apply for another loan if the need arises.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not offer loans, and you do not go into debt when you get money from a Trucking Factoring company. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to sell. Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

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

 

While not every business can take advantage of Trucking Factoring account financing (you have to have a business that has account receivables) for those that can use this type of financing there are several distinct benefits.

 

1. You will not Incur 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. No Collateral Required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

3. Receive Your 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. 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 you do not have to worry about monthly loan repayments, and you do not have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

Another bonus is that, because the Trucking Factoring company has evaluated the quality of your customers' credit before buying the accounts receivable, you learn valuable information regarding your customers, like which ones are likely to pay, and which ones are less likely to pay.A Trucking Factoring company is not the only method of gaining access to finance for the running and growing of your business, however it does offer a financing option well worth considering.

 

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