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Little Cash Flow Leaks That Keep Companies Poor - Our Receivable Loan Company Can Give
Your Freight Company The Cash You Want

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Small freight brokerage businesses, specifically those who have not been around for extremely long, will typically discover it tough to secure a loan. Banks are commonly hesitant to lend cash to companies that do not have a lot of earnings and possessions. They likewise want evidence of the viability of a company and thus require that a lot of operations, particularly little ones, been around for a particular amount of time prior to they want to hand over any money. Because of this, a medium-size company frequently has a couple of cash producing options when needs arise. One alternative offered, however typically ignored, is invoice factoring. This is an exceptional means for a small business to obtain money.

 

 

 

 

 

 

 

You Can Laugh at Money Worries - if You Follow This Simple Plan - Pick An Invoice Factoring Company Instead Of A Regular Bank Funding

How to Enhance Money Flow Without Borrowing -Cash Money flow is one of the main reasons businesses fail.

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

Money flow does not have to be a problem any more. Do not be deceived -- banks are not the only places you can get financing. Other solutions are available and you do not have to borrow money. What is truck factoring ? One solution is called truck factoring. Truck Factoring is the procedure of offering invoices to a financier instead of waiting to gather the cash from the client. Oh, the Irony- Truck factoring has an ironic difference: It is the financial foundation of many of America's most effective businesses. Why is this paradoxical ? Because receivable financing is not instructed in business colleges, is seldom discussed in business plans and is fairly unknown to bulk of most of American business people.

Yet it is a monetary process that releases up billions of dollars every year, enabling thousands of businesses to grow and prosper. Commercial Factoring has actually been around for thousands of years. Receivable Financing Companies are investors who pay cash for the right to get the future payments on your invoices. An overdue receivable or invoice has value. It is a debt your client has agreed pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business deals, a big portion of the retail company uses a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail transactions. Utilizing the purest meaning of the word, these big customer finance business are really simply large Receivable Funding Businesses of customer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The shop makes money practically immediately, although you do not make payment until you are prepared.

For this service, the credit card business charges Sears a charge (typical common normal charges range from 2 to four percent of the sale). The Benefits Invoice Factoring can offer many advantages to cash-hungry companies. Instead of waiting 30, 60, 90 days or longer for payment on an item that has already been delivered, a company can factor (sell) its receivables for cash at a little discount off the amount of the invoice. Payroll, marketing efforts, and working capital are just a few of the business requirements that can be satisfied with instant  cash.

Invoice Factoring offers the means for a producer to replenish inventory and make more items to sell: There is no longer a need to wait for earlier sales to be paid. Receivable Loan Financing is not simply a cash management device for producers: Practically any kind business can benefit from Receivable Loan Financing. Generally, a business that extends credit will have 10 to 20 percent of its yearly sales tied up in invoices at any given time. Think for a moment about how much is bound in 60 days' worth of invoices: You can not pay the power expense or this week s payroll with a client s invoice, but you can sell that invoice for the money to satisfy those responsibilities. Using trucking factoring companies is a fast and simple process. The factoring company buys the invoice at a price cut, usually a few percentage points less than the stated value of the invoice.

 

 

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The United states Truck Organization
specifies that there are about
205,000 workers with freight trucking
companies and
276,000 personal providers trucking
firms licensed to
operate in the States that transported,
according to their most current searchings for billions of
products, materials and
fundamental products .
There are a number of typical
providers either going solo or in
teams on our country
highways carrying these
important products to our
stores, manufacturingplants and harbors.

Moreover freight factoring
companies benefit
many of them and offer their
factoring services
nationallyincluding
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

 

Oakland is located in the west-central part of California on the east side of San Francisco Bay. It is the seat of Alameda County.Don Luis Peralta first settled the site of Oakland in 1820 when he established the Rancho San Antonio. The gold rush of 1849 attracted more people to the area, and the city's population continued to grow after a ferry service to San Francisco was started in 1851. Oakland was incorporated as a town in 1852 and as a city in 1854. It was named after the numerous oak trees found in the area. Oakland became the western terminus of the Central Pacific Railroad in 1869 and the seat of Alameda County in 1873.In the latter part of the 19th century and also in 1910, additional territory was annexed to Oakland and the city assumed its present size. In 1906, thousands of people fled to Oakland in the aftermath of the San Francisco earthquake and settled there permanently, furthering the city's growth. Oakland's economic development continued to rise with the opening of the San Francisco�Oakland Bay Bridge in 1936.Oakland is a major center of culture and commerce. It is an important container shipping port and the terminus of three transcontinental railroads. Oakland's industries include food processing, transportation, software, telecommunications, pharmaceuticals, and electrical and high technology manufacturing. The city is the headquarters of many national and international corporations.Oakland is a major West Coast port, and the fifth busiest in the United States by cargo volume. The Port of Oakland handles 99% of all containerized goods moving through Northern California, representing $41 billion worth of international trade. There are nearly 200,000 jobs related to marine cargo transport in the Oakland area. These jobs range from minimum wage hourly positions to Transportation Storage and Distribution Managers who earn an annual average salary of $91,520. The Port of Oakland was an early innovator/pioneer in the technologies of Intermodal Containerized Shipping. The city is also home to several major corporations including rox, as well as the corporate headquarters for national brands and in recent years many start-up high tech and green energy companies have found a home in the downtown neighborhoods of Uptown, City Center, Jack London Square and Lake Merritt Financial District. In 2014, Oakland was the fifth ranked city for tech entrepreneurs by total venture capital investment.As of 2013, the San Francisco-Oakland-Hayward has a GDP (Gross Domestic Product) of $360.4 billion, ranking eighth among metropolitan areas in the United States. In 2014, Oakland was amongst the best cities to start a career, the highest ranked city in California after San Francisco. Additionally, Oakland ranked fourth in cities with professional opportunities. Numerous companies in San Francisco continue to expand in or migrate over to Oakland.Oakland experienced an increase of both its population and of land values in the early-to-mid first decade of the 21st century. The 10k Plan, which began during former mayor administration, and intensified during former mayor Jerry Brown's administration resulted in several thousand units of new multi-family housing and development.

 

 

Watch Our Factoring YouTube Videos For More Information

 

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

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.

 

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.

 

Searching for the right trucking companies to move your freight can be tough, with the large amount of local, regional, and national truck carriers out there. Center helps make freight shipping simple, finding you the safest, reliable trucking companies every time you ship. Trucking companies are licensed and insured to carry freight safely and efficiently across the country, no matter the size or type of freight you need to ship.Plus, with the high volume of freight we move, we will work to get you the best freight rates possible. Simply enter in a few details below and you�ll see instant freight rates from all the top trucking companies in one easy screen

 

Searching for the right trucking companies to move your freight can be tough, with the large amount of local, regional, and national truck carriers out there. Center helps make freight shipping simple, finding you the safest, reliable trucking companies every time you ship. Trucking companies are licensed and insured to carry freight safely and efficiently across the country, no matter the size or type of freight you need to ship.Plus, with the high volume of freight we move, we will work to get you the best freight rates possible. Simply enter in a few details below and you�ll see instant freight rates from all the top trucking companies in one easy screen

 

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

 

 

"

Parker Truck and Haul has been in business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the boom times from 2002 to 2007 Parker Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. Times were great for everyone, and the cash was flowing.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed to a crawl

 

. And worse yet, Parker 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, Carl Wallace, CEO of Parker 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 something wrong or different when it came to reaching out to delinquent accounts? By his bookkeepers records, this wasn't 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 Parker hadn't gone elsewhere. The had just gone!.To Carl Wallace the situation looked desperate. He had employees to pay, goods to ship, trucks to maintain and overhead that was almost unbearable when compared against the lack of funds that were coming in. At night he would speak to his wife Frances 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 ask.Carl 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. Why couldn�t he work out how to resolve this financial problem with his business?""I know what it is,"" Carl said. ""I've relied too long on the profits I receive from invoices alone. I've let too many of our customers go too long without paying on their bills."" Frances would look at her husband lovingly, and holding his hand would say 'it is such a harsh economy these days and our clients must be having difficulty meeting their responsibilities'.""Carl knew very well that Frances was only trying to help, but his responsibilities weighed heavily on his shoulders and he knew he had better do something soon to resolve this situation.The following day Carl walked into his office with a spring in his step, determined to call each and every client who owed money to Parker 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. A waste of time - a waste of money - he had the best intentions, but all the while Carl was realising just how much trouble he was in.After a half day of contacting debtors in vain - they dodged his calls or promised to call back at worst or made minimal interest-only payments at best - he was about to throw in the towel when his secretary Stacyerley knocked at his door.

 

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

 

""Of course Stacy, please come in."" Carl leaned back in his chair and looked expectantly at Stacyerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Carl."" 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?"" Stacyerley asked.""It does sound vaguely familiar. What is it?"" he said.""Well,"" she began, ""It�s actually quite simple really.

 

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

 

The company will advise us the cost to purchase factoring for our company's accounts receivable. Once we arrive at a mutual agreement, the funding begins.�Carl was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Stacy,"" he said.""Yes, I know; that's exactly what I thought at the beginning. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. They appear to be very flexible, Carl,"" she underlined a paragraph on the paper before him.""How flexible?"" he asked.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. Apparently they can figure this all out in two to four days.

 

""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" said Carl.Carl took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Precisely�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Carl thought about this and agreed with Stacyerley. The customers who were in debt to Parker Truck & Haul were professional resources of the company, but they were also long-standing friends. Carl wasn't prepared to lose these relationships just because they were having financial issues at the moment. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. 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 Stacy, and thankyou."" Stacy nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Carl keep the shirt on his back, and possibly hers too.Carl stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. He wondered if there might be other problems freight factoring could help Parker 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. Carl was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Carl was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""I must tell Ken the good news,"" Carl muttered to himself.Ken is Carl's son-in-law, and he really admired the ideas behind Parker, so much so that only two years before he had started his own transportation service business. Carl knew then what struggles Ken would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Parker was hurting, a little guy like Ken was about to catch his death. But, maybe the answer for both of them was in freight factoring, and Carl was going to find out very soon.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, Carl 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. Carl recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. If Carl hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

Oakland is located in the west-central part of California on the east side of San Francisco Bay. It is the seat of Alameda County.Don Luis Peralta first settled the site of Oakland in 1820 when he established the Rancho San Antonio. The gold rush of 1849 attracted more people to the area, and the city's population continued to grow after a ferry service to San Francisco was started in 1851. Oakland was incorporated as a town in 1852 and as a city in 1854. It was named after the numerous oak trees found in the area. Oakland became the western terminus of the Central Pacific Railroad in 1869 and the seat of Alameda County in 1873.In the latter part of the 19th century and also in 1910, additional territory was annexed to Oakland and the city assumed its present size. In 1906, thousands of people fled to Oakland in the aftermath of the San Francisco earthquake and settled there permanently, furthering the city's growth. Oakland's economic development continued to rise with the opening of the San Francisco�Oakland Bay Bridge in 1936.Oakland is a major center of culture and commerce. It is an important container shipping port and the terminus of three transcontinental railroads. Oakland's industries include food processing, transportation, software, telecommunications, pharmaceuticals, and electrical and high technology manufacturing. The city is the headquarters of many national and international corporations.Oakland is a major West Coast port, and the fifth busiest in the United States by cargo volume. The Port of Oakland handles 99% of all containerized goods moving through Northern California, representing $41 billion worth of international trade. There are nearly 200,000 jobs related to marine cargo transport in the Oakland area. These jobs range from minimum wage hourly positions to Transportation Storage and Distribution Managers who earn an annual average salary of $91,520. The Port of Oakland was an early innovator/pioneer in the technologies of Intermodal Containerized Shipping. The city is also home to several major corporations including rox, as well as the corporate headquarters for national brands and in recent years many start-up high tech and green energy companies have found a home in the downtown neighborhoods of Uptown, City Center, Jack London Square and Lake Merritt Financial District. In 2014, Oakland was the fifth ranked city for tech entrepreneurs by total venture capital investment.As of 2013, the San Francisco-Oakland-Hayward has a GDP (Gross Domestic Product) of $360.4 billion, ranking eighth among metropolitan areas in the United States. In 2014, Oakland was amongst the best cities to start a career, the highest ranked city in California after San Francisco. Additionally, Oakland ranked fourth in cities with professional opportunities. Numerous companies in San Francisco continue to expand in or migrate over to Oakland.Oakland experienced an increase of both its population and of land values in the early-to-mid first decade of the 21st century. The 10k Plan, which began during former mayor administration, and intensified during former mayor Jerry Brown's administration resulted in several thousand units of new multi-family housing and development.

 

 

More Trucking Factoring Companies Story Articles

"

The Future of a Trucking Company, and Factoring The phone was ringing on his desk, and Neil Fuller just sat there letting it ring. 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. Fuller 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 Neil's father had started this business working as an owner-operator and eventually growing Fuller 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 Neil's mother had jumped into the cab at times to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. Now the company was solely in Neil�s hands and he wanted to live to see it in better shape for his sons.

 

To move Fuller 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 Fuller 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. Neil allowed himself a good hard chuckle. His father had been against placing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� 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.

 

Neil knew he was right in his forward thinking. What would be the next step for Fuller Trucking? And how would he be able to afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

He wondered about factoring - was this the answer for him? If he was being honest, he did not really understand how it all worked. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without 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 Neil 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. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

But it turned out to be quite easy. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. 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. 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. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. He was more than happy with the figures he was offered in percentage terms on the freight bills. It was good money.

 

It was really refreshing dealing with the factoring people. They were more personable than those loan managers at the bank. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar for a handout. The factoring companies didn�t worry over his credit and the debt troubles his father had had in the past of the company. Factoring was based on the credit of his customers and on their reliability which worked well for Neil because he and his father had built up good strong relationships over decades with their list of clients. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients wouldn�t think poorly of Fuller Trucking and the factoring companies appeared capable of handling the accounts receivable in the same polite manner that his father had used over the years.

 

Neil stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. He suddenly realized that, with this new cash flow, he could actually expand Fuller 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.

 

"

 

 

 

 

Factoredinvoice.Org

 

Accountreceivablefactor.Com

 

Watch Our Freight Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� Tyrone Nichols asked as he leaned back in his chair, crossing his legs. The woman who sat across the desk smiled and shook her head.�No, not exactly,� she stated.Tyrone Nichols owned a small trucking company, and his business had recently fallen on difficult times. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Mario. His company was called Hunt Trucking, named after both of his grandfathers, Ken and Lester. They had both been hardworking men, and had done a lot to make Tyrone the same.Six months ago disaster struck Mario's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. Tyrone depended on his full fleet, and missing two trucks was devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

Waiting a month or longer for bills to be paid was quite normal. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Tyrone was an excellent business man, and he certainly hadn't done anything wrong. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.And that's why he found himself across the desk from this woman. Tyrone knew she was employed by a Factoring company and that her name was Nina. Tyrone had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.She sat there now, and explained. �It�s not a loan, we purchase your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. That way we�re protected from a complete loss, but you�re protected from the outrageous fees you would find in a loan from the bank.Tyrone nodded. It sounded perfect - perhaps too good?.Nina laughed. �You look like you don�t believe me,� she chuckled.�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.�Nina smiled, agreeing. �We get that a lot. There's no way we want to see you lose your business. You work hard, you�ve put everything you can into it. We all need help sometimes. That's why we do what we do.""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,� Nina said with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.

 

Tyrone completed the form, with Nina offering advice as needed.

 

The profile filled Nina and her company in on Mario�s company, and would help them determine if he was suitable for factoring. In truth, not all companies were. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. As Tyrone completed his form, Nina listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Nina took it and slid it into her briefcase. Standing up, she reached over the desk and shook Mario's hand. He also stood up, and they smiled at each other. They said their goodbyes and Tyrone walked her to the door, and then returned to his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He leaned back and closed his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. Talking to Nina 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 successful. Home cooking in his hometown, and he had done very well.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 six months off, and during that time he decided to create Hunt Trucking. So he did it. Once again he built a company from the ground up. The business had been an instant success.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was nearing fifty. He was concerned that he just did not have the energy left to try and save the business. But giving up wasn't part of his personality either.

 

The idea of cutting his losses, shutting down, laying off his workers, it actually made him 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. Tyrone opened his eyes, sat forward, turned his computer on. He had lots to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

The reason why Truck Firms Make use of Factoring Companies.

 

As the manager of your own company, you may perhaps be much more than aware already of the challenge in making certain that cash flow concerns do not become a difficulty down the line. After all, the most horrible thing that can in all probability develop for your company is to find yourself swept up in a long and complicated predicament that leaves you forever trying to find the cash you require on an continual basis.

 

For pretty much any company in this predicament, the dilemma can come for waiting for work to lapse and actually be repaid into your statement. Statements, checks, and the like could take some time to actually to beprocessed which could leave you with temporary available resources problems. Thankfully, there are opportunities out there for industries to delve into-- and among these is factoring firms.

 

Factoring agencies will, in substitution for your statements, offer you with the finances now in order that you do not have to worry about the waiting time span which could make paying out the bills and obtaining toolsmore tough. With this type of system, invoice factoring can become exceptionally practical for a lot of firms who ought to get out of a cash ploy which they have gotten themselves in.

 

Simply because, depending upon the size of the work, it can take up to 60 days for several companies to get compensated then it is critical to cover your own back and not leave yourself cash short to settle the bills. After all, how many businesses possess two months income just occupying there to cover all their bills until they earn?

 

This is most notably correct of truck companies. They generally deal with good deals of accounts which means a substantial quantity of collection period involves company owner themselves. Attempting to get compensated in time can eventually become an amazing headache and this is precisely why you make use of truck factoring providers who are thrilled to help out truckers specifically.

 

As most of us realize, trucking is an surprisingly large industry with countless companies out there working with hundreds of operators. The sad thing is, plenty of these drivers land up in finances issues given that they are still expecting work from six weeks previously to actually compensate them. When this is the situation for a truck firm, resorting to factoring firms for aid might be the best choice left.

 

This implies that a truck organization can pay off the wages of the staff, keep all the cars refilled with fuel and continue to escalate, thrive and expand without constantly waiting for the funds which is taking too lengthy to come in. Trucking Enterprises running without a factoring program applied are leaving themselves at substantial threat, as competitions cash out promptly and continue to expand.

 

There's absolutely not much to be stressed about when it comes to making use of a Factoring business-- they commonly are not like a financial institution or any individual who is going to leave you with a large stack of financial debt to pay back. You give them authentic invoices from output you have already finalized , you are merely speeding up the payment system.

 

In the United states of America, where trucking companies grow, factoring companies are not considered borrowing in any capacity. This private settlement then allows both parties to benefit and delight in a good future-- it provides the factoring agency a guaranteed resource of cash flow to put into the list and it supplies the trucking firm the required finances that they sweated to generate.

 

The trucking firm gives their invoices to the factoring enterprise. The trucking factoring company then collect the installment payments from the trucking company's clients. Factoring has been all around for centuries and has been utilized for decades by many different markets-- but none exceeding so than truckers. While you might miss out on a small part of the money, something like 1-3 % depending upon who you collaborate with, it implies that you are getting the funds today and can actually start setting the funds to operate.

 

Once and for all, an IOU or an invoice is absolutely not going to finance spendings, is it? For trucking firms when the cash can be very good one day and gone the next, it is up to the vehicle drivers to work sensibly and to make sure that they are leaving themselves with a considerable measure of time and finance to get through the week until they are compensated again.

 

So the next period your trucking establishment is bearing some short-term capital troubles and you are shelling out an excessive amount of time chasing sluggish paying clienteles, why not begin taking into consideration making use of a factoring businesses as a method to get your cash and give yourself a more at ease future in the eyes of your trucking personnel and your bank difference?

 

 

 

 

 

 

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Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. While these loans are handy they are not 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. 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.

 

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. 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 money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

Benefits of a Trucking Factoring Company Vs. A 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. There is no debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

2. No Collateral Required. Another great benefit of using the services of a Trucking Factoring company instead of a bank loan is that there is no collateral required for the Trucking Factoring company, because the Trucking Factoring company is buying your accounts receivables. 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 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. With a Trucking Factoring company you can actually get the money you need faster. 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.Interest is Paid Up Front. With a bank loan interest continues to build, and this has to be paid the whole time you have a business loan; however with a Trucking Factoring company there is no interest - they take it right off the top by deducting it from the total amount of receivable accounts. So 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. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

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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