Contact Us Form

or Call Us At 866-593-2195

Email Us

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home page

Little Cash Flow Leaks That Keep Companies Poor -
Our Accounts Receivable Buyers
Can Provide
Your Freight Company
The Cash You Need

 

 

freight factoring definition

transportation factoring trucking

factoring for trucking

best trucking factoring

Medium-Size freight brokerage companies, particularly those who have not been around for extremely long, will frequently discover it difficult to secure a loan. Banks are often reluctant to lend money to businesses that do not have a great deal of income and properties. They also want proof of the practicality of a business and hence require that a lot of operations, particularly small ones, been around for a certain quantity of time prior to they are eager to turn over any money. Because of this, a medium-size company commonly has few money creating alternatives when requires emerge. One choice readily available, but commonly overlooked, is factoring. This is an exceptional means for a small business to obtain cash.

Will You Help me Get Money? - Pick 

An Invoice Factoring Company Instead Of A Typical Bank Financing

Exactly how to Enhance Cash Flow Without Borrowing -Cash Money flow is among the primary reasons companies fail.

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

Money flow does not have to be a problem any ever more. Do not be fooled -- banks are not the only locations you can get funding. Other solutions are available and you do not have to borrow money. What is trucking factoring ? One solution is called accounts receivable buyers. Trucking Factoring is the process of selling invoices to a financier rather than waiting to collect the money from the customer. Oh, the Irony- Truck factoring has an ironic difference: It is the financial foundation of many of America's most effective companies. Why is this ironic ? Since staffing factoring is not instructed in business colleges, is rarely discussed in business strategies and is relatively unknown to bulk of most of American business people.

Yet it is a financial process that frees billions of dollars every year, enabling countless companies to grow and prosper. Staffing Factoring has been around for thousands of years. Invoice Factoring Businesses are investors who pay cash for the right to get the future payments on your invoices. An unpaid receivable or invoice has value. It is a debt your customer has actually agreed pay in the near future. Factoring Principals--Although factoring deals solely with business-to-business deals, a big portion of the retail company uses a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail transactions. Utilizing the purest meaning of the word, these large consumer finance business are truly just big FACTORING Businesses of customer paper. Consider it: You make a purchase at Sears and charge it to your MasterCard. The shop gets paid practically instantly, even though you do not make payment until you are ready.

For this service, the charge card company charges Sears a charge (typical common normal charges vary from 2 to 4 percent of the sale). The Benefits Staffing Factoring can offer many advantages to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on an item that has actually currently been delivered, a business can factor (sell) its receivables for cash at a small discount off the dollar value of the invoice. Payroll, marketing efforts, and working capital are just a few of the company requirements that can be satisfied with instant  cash.

Accounts Receivable Buyers provides the ways for a manufacturer to renew inventory and make more items to sell: There is no longer a need to wait for earlier sales to be paid. FACTORING is not just a cash management tool for producers: Practically any type business can benefit from Trucking Factoring. Typically, a company that extends credit will have 10 to 20 percent of its annual sales tied up 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 bill or today s payroll with a client s invoice, however you can sell that invoice for the cash to meet those obligations. Using trucking factoring companies is a quick and simple process. The factor purchases the invoice at a price cut, usually a couple of portion points less than the stated value of the invoice.

 

 

Please call our
trucking factoring specialists at
1 - 888-239-9162
or

E-mail Us


or complete the
OnLine


Trucking Factoring Request Kind

 

The U.s. Truck Organization
states that there are about
195,000 workers with transportation
firms and
300,000 private companies trucking
firms accredited to
operate in the States that carried,
according to their newest data of millions
products, materials and
fundamental products .
There are numerous typical
providers either going solo or in
teams on our nation
roads transporting these
vital products to our
shops, manufacturing facilities and harbors.

Moreoverfreight invoice factoring
corporations service
many of them and offer their
accounts receivablesfinancing services
countrywide comprising
including the following states.


: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware,Florida,
Georgia, Hawaii, Idaho State,Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine,
Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska,
Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina,
North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina,
South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia,
Wisconsin, and Wyoming

Account Receivable Companies

 

View Our Trucking Factoring YouTube Videos For More Information

 

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

Life of a Truck driver, like many other professionals can be very challenging, rewarding, and frustrating at the same time. �The Truckers Place.com� is an information site for many of the Truckers needs. It is designed to encompass the needs of the Trucker, both on the Road and at Home.

List of Trucking Companies for Owner/Operators and Company Drivers

 

Life of a Truck driver, like many other professionals can be very challenging, rewarding, and frustrating at the same time. �The Truckers Place.com� is an information site for many of the Truckers needs. It is designed to encompass the needs of the Trucker, both on the Road and at Home.

List of Trucking Companies for Owner/Operators and Company Drivers

 

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

 

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 JOC Top 50 Trucking Companies list, based on data prepared by SJ Consulting Group in Pittsburgh.

 

EveryTruckJob.com 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 andbenefits offered. Search current driving jobs and fill out the EZ truck driver application customized for cdl trucking jobs

 

EveryTruckJob.com 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 andbenefits offered. Search current driving jobs and fill out the EZ truck driver application customized for cdl trucking jobs

 

 

 

state sitemap 1

state sitemap 2

state sitemap 3

state sitemap 4

state sitemap 5

 

 

"

Since the mid 1980s Mccoy Truck & Haul have been successfully running their freight business. 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 Mccoy Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. 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 down. Worse still, it was noticed by Mccoy in early 2008 that even though most of their loyal customers were on time with their payments, there were a few late bloomers who were starting to spread the disease. And as spring turmed to summer and summer into the early days of fall, Elmer Gutierrez, CEO of Mccoy felt a chill go down his spine whenever he would look at the weekly A/R reports. The number of clients who were late in their payments was continuing to grow.He had gone to his administrators and asked them what the problem had been. Were they doing 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 couldn't afford to pay him their debt, but they could afford a lesser service, maybe. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. The had just gone!.This current state-of-affairs was causing Elmer Gutierrez to have some very restless nights. Elmer was very concerned, because there were constant overheads, goods to ship, employees to pay, and trucks which needed to be maintained, but there just wasn't the money coming back into the business. After work he would confide in his wife, Vera, and neither were unable to stop the constant worry over the lack of funds.""I have a bad feeling, Lin,"" he would say with deep woe.""Well, what do you think it is?"" she would say.Elmer would stare off for a moment and then close eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them on the road, delivering good to all his loyal customers. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. Why couldn�t he work out how to resolve this financial problem with his business?""I know what it is,"" Elmer said. ""For way too long I've been relying solely on profits received from invoices. For too long I've been allowing our clients to let their accounts become overdue."" Linda could only grab her husband's hand and look at him lovingly, ""It's a hard economy. It might be awhile until things get settled up.

 

""Vera was trying so hard to support her husband in these worrying times, while Elmer was weighed down with the worry of how he was going to handle this situation he found himself in.The following day Elmer walked into his office with a spring in his step, determined to call each and every client who owed money to Mccoy 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, Elmer knew that he was in trouble.

 

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 Terryerley knocked at his door.

 

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

 

""Of course Terry, please come in."" Elmer relaxed back into his chair and looked up at Terryerley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Elmer."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard the word factoring?"" she asked.""It sounds vaguely familiar. What is it?"" he said.""Well,"" she began, ""It�s actually quite simple really.

 

Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Elmer interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""In a nutshell, it's pretty easy. We start by having a professional account manager review our figures and help us set up a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.��Elmer replied cautiously ""I see - and what happens then?��Following the completion of their review and once we've been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

The company will advise us the cost to purchase factoring for our company's accounts receivable. We come to an agreement and the funding starts pouring out.�Leaning forward, Elmer studied the documents very closely.""It sounds too good to be true, Terry,"" he said.""Now, now, I know, I thought the same thing. 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, Elmer,"" she underlined a paragraph on the paper before him.""Just how flexible?"" asked Elmer.""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 Elmer.He took a deep breath and looked at his secretary with something she recognized as hope.""Exactly�. This could be the answer to our prayers: it will solve many problems we're facing due to these unpaid debts.""Elmer thought about this and agreed with Terryerley. The customers who were in debt to Mccoy Truck & Haul were professional resources of the company, but they were also long-standing friends. They didn't want to throw away these relationships because they were having trouble paying their bills now. Elmer knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. Of course he didn't want to lose any more money, but he didn't want to lose business either.""Well, let me think about this tonight Terry, thank you."" Terry nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Elmer keep the shirt on his back, and possibly hers too.Elmer stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. What other issues could freight factoring help Mccoy with? Running his pencil down the sheet, he noted that the freight factoring company could assist with fuel costs, fuel advances, and fuel discount cards. In fact, Mccoy could receive up to fifty-percent cash advances upon load pick-ups. Elmer was a typical business man: he despised binding contracts that didn't allow room to breathe, so he was pleasantly surprised to see that the factoring company didn't require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""Well, I'll have to tell Scott about this,"" muttered Elmer to himself.His son-in-law Scott had liked the idea of Mccoy so much and revered his father in law for having such business acumen that only two years before, he had gathered the venture capital to begin his own transportation service company. At that time Elmer knew the struggles Scott would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Mccoy was struggling then the little guys, like Scott, were going to be in even more trouble.

 

But, an antidote may have been found in freight factoring and Elmer was soon to find out.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Elmer was beginning to find his way out of the hole his debtors 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. Elmer looked back on the dismal months of life before freight factoring and almost shuddered at the thought. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

 

More Trucking Factoring Companies Story Articles

"

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

 

More than forty years ago Paul's father had started this business working as an owner-operator and eventually growing Jackson Trucking Company into a fifteen trailer fleet. There had been some hard times when it seemed everything was going to go under and even Paul�s mother strapped herself into a cab 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 Paul�s hands and he wanted to live to see it in better shape for his sons.

 

There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. His employees needed to be paid. They had families and household bills too. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. Every time he had to turn down a request, Jackson Trucking looked weak in a very strong market.

 

His father would have told him to wait and to take his time adding on new technology. Paul 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.

 

Paul knew he was right in his forward thinking. How would he take Jackson Trucking to the next level? More importantly, how could he afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

But was factoring the answer? If he was being honest, he didn't really understand how it all worked. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. During those thirty days the trucking company can't pay its employees and bills with invoices.

 

Now it was time for Paul 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! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. 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. 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. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. Many companies offered a non-recourse factoring program that suited him just fine. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It sounded like a great scheme to him.

 

For Paul it was quite a relief to be dealing with the factoring company. They were extremely helpful and more personable than the bank staff. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar for a handout. The factoring companies were not interested in his credit nor the financial problems his father had experienced in the past. Factoring was based on the credit of his customers and on their reliability which worked well for Paul 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 Jackson 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.

 

Feeling happier now, Paul stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. He suddenly realized that, with this new cash flow, he could actually expand Jackson 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 wouldn't be inheriting a financial mess.

 

"

 

 

View Our Trucking Factoring Companies Videos For More Information

 

 

 

 

 

 

 

 

 

Trucking Factoring  Articles

�So, this is not a loan?� Anthony Rivera 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.Anthony 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 Steve. He named his business Day Trucking, named after Jacob and Gene, his two grandfathers. They had both been hardworking men, and had done a lot to make Anthony the same.Disaster had struck half a year ago, when two trucks in Steve�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. Anthony 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 Anthony had on hand.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

You could go a month or more before bills were completely paid off. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Anthony wasn�t a bad owner, and he hadn�t messed up. Things had happened that he couldn't 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. Her name was Colleen and she worked for a factoring company. Anthony had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.She sat there now, and explained. �it is really not a loan at all: we actually buy your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. That way we�re protected from a complete loss, but you�re protected from the outrageous fees you would find in a loan from the bank.Anthony nodded. It sounded perfect - perhaps too good?.Colleen 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.�Colleen nodded. �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 what we�re here for.��In any case, thank you for coming to see me.��It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Colleen with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Anthony filled the form out, with Colleen available to help him if he needed it. The profile filled Colleen and her company in on Steve�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 Anthony completed his form, Colleen listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Colleen took it and slid it into her briefcase. She then stood, reached across the desk and shook Steve�s hand. He stood before they shook as well, and then smiled. Anthony walked Colleen to the door where they said 'Goodbye', then he went back into his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He shut his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. Talking to Colleen though, learning about factoring, it felt like a weight had been lifted from his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.The long nights, where he couldn�t sleep. The sudden panic attacks, not matter where he was. He could feel it all fading away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.Anthony couldn�t help but think back to when he had first started the business. At twenty-two and straight out of school he had opened a restaurant. It had been really successful. Offering home cooking in his own hometown, his business had really prospered.But he had gotten bored. He wasn't passionate about the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took half a year off, and in that time he thought to start Day Trucking. And that's exactly what he did. 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 didn�t think he had it in him, to save this company. But giving up wasn't part of his personality either.

 

Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He didn�t know how to say quit.And now, because of factoring, he was sure he wouldn�t have to. Anthony 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.

 

 

 

 

More Trucking Factoring Company Story Articles

The reason why Truck Firms Employ Factoring Firms.

 

As the operator of your own company, you may well be more than mindful already of the challenge in making sure that capital concerns do not become a difficulty down the line. After all, the most horrible thing that can potentially come about for your establishment is to find yourself swept up in a long and problematic circumstance that leaves you forever searching for the finances you are in need of on an continuing manner.

 

For pretty much any establishment in this situation, the complication can come for waiting for work to clear up and actually be provided into your statement. Invoices, checks, and the like can take a while to actually to be taken care of which can easily leave you with temporary cash flow issues. The good news is, there are opportunities out there for firms to delve into-- and one of these is factoring providers.

 

Factoring firms will, in exchange for your bill of sales, offer you with the money immediately so you don't need to worry about the delaying period which could make paying off the expenses and acquiring toolsmore hard. With this type of setup, invoice factoring can become extremely helpful for lots of firms who have to get out of a money pitfall which they have found themselves in.

 

Due to the fact that, depending upon the size of the job, it can take up to 60 days for several companies to get paid out then it's vital to cover your own back and definitely not leave yourself funds short to pay off the expenses. After all, how many companies possess two months cash flow just occupying there to pay for all their expenses until they earn?

 

This is particularly true of truck firms. They have the tendency to manage good deals of accounts which means a notable quantity of collection time involves business owner themselves. Seeking to get paid off promptly can eventually become an extraordinary trouble and this is exactly why you use trucking factoring companies who are thrilled to help out truckers particularly.

 

As all of us understand, trucking is an incredibly enormous business with lots of agencies out there utilizing hundreds of operators. Regretfully, quite a few of these drivers end up in income troubles simply because they are still anticipating work from six weeks previously to actually pay them. When this is the scenario for a truck organization, consulting factoring agencies for reinforcement could be the most ideal choice left.

 

This signifies that a trucking firm can compensate the salaries of the people, keep all the vehicles filled with gas and continue to scale, rise and expand without continually waiting for the finances which is taking too lengthy to come in. Trucking Companies operating without a factoring system put in place are leaving themselves at notable danger, as competitors cash out rapidly and carry on to broaden.

 

There's absolutely not a thing to be stressed about when it comes to using a Factoring company-- they usually are not like a bank or any individual who is going to leave you with a considerable pile of liability to repay. You give them genuine invoices from job you have already finished , you are merely speeding up the repayment process.

 

In the United states of America, where trucking enterprises flourish, factoring firms are not considered taking on loan in any capacity. This confidential arrangement then permits both groups to benefit and take pleasure in a convenient future-- it gives the factoring business a guaranteed resource of profit to include in the list and it furnishes the trucking business the needed finances that they worked hard to get.

 

The trucking business gives their invoices to the factoring business. The trucking factoring provider then take the payment amounts from the trucking company's customers. Factoring has been in existence for centuries and has been utilized for several years by lots of diverse industries-- but none more so than truckers. While you may well lose out on a small part of the money, something like 1-3 % depending on who you work with, it signifies that you are receiving the cash today and can actually start putting the resources to perform.

 

After all, an IOU or an invoice is not going to pay for overheads, is it? For trucking agencies when the finances can be great one day and gone the next, it's up to the drivers to work prudently and to make sure they are leaving themselves with a significant amount of time and finance to get through the week till they are compensated once again.

 

So the next moment your trucking business is bearing some temporary capital issues and you are spending way too much time chasing slow paying clienteles, why not start off considering making use of a factoring businesses as a manner to get your cash and give yourself a more comfortable future in the eyes of your trucking team and your bank dividend?

 

 

 

 

 

 

"

Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. These loans can be a life-saver, but they're not always available to every business. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

Trucking Factoring Companies

 

Trucking Factoring companies don't offer loans, and you don't go into debt when you get money from a Trucking Factoring company. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to 'sell.' Once you have set up Trucking Factoring account it continues as long as you wish it too and the amount of money available to you even can grow as your business grows, giving you the ready cash you need to meet your own obligations.

 

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

 

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

 

1. There is no debt. You don't incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating won't be affected. In the event that your business fails, you wouldn't have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

2. There's no collateral required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you aren't 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. 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. You'll receive the money faster. With a Trucking Factoring company you can actually get the money you need faster. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.

 

4.Interest is Paid Up Front. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you don't have to continue to pay interest as they take it right off the top, deducting it from the total amount of accounts receivable. So you don't have to worry about monthly loan repayments, and you don't 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 most important benefits is that once you sell your accounts receivable to the factory company, you don't have to take time away from running your business to collect the money owed from reluctant to pay customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

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.While a Trucking Factoring company is not the only way for your business to obtain the money it needs to keep growing, it does offer a type of financing well worth considering.

 

"

 

 

Accounts Receivable Buyers

 

Accounts Receivable Factor

 

Accounts Receivable Factoring

 

Accounts Receivable Factoring Companies

 

Accounts Receivable Factoring Rates

 

Accounts Receivable Financing

 

Accounts Receivable Financing Companies

 

Accounts Receivable Financing Rates

 

Accounts Receivable Lending

 

Accounts Receivable Loans

 

Best Factoring Companies

 

Best Factoring Companies For Freight Brokers

 

Best Freight Factoring Companies

 

Best Invoice Factoring Company

 

Best Rated Factoring Companies

 

Best Truck Factoring Companies

 

Best Trucking Factoring Company

 

Business Accounts Receivable Loans

 

Buy Accounts Receivable

 

Buy Receivables

 

Factoring Business

 

Factoring Companies Brokers

 

Factoring Companies For Freight Brokers

 

Factoring Companies For Small Businesses

 

Factoring Companies Reviews

 

Factoring Companies Truckers

 

Factoring Companies Used By Trucking Companies

 

Factoring Company

 

Factoring Company Rates

 

Factoring Financing

 

Factoring Loan

 

Factoring Loans

 

Factoring Receivables Companies

 

Factoring Services

 

Factoring Services For Trucking Companies

 

Factoring Small Business

 

Find The Best Factoring Companies

 

Freight Bill Factoring

 

Freight Bill Factoring Companies

 

Freight Broker Factoring Companies

 

 

 

Freight Factoring Companies

 

Freight Factoring Company

 

Freight Factoring Services

 

Freight Invoice Factoring

 

Invoice Factoring Companies

 

Invoice Factoring Rates

 

Invoice Factoring Reviews

 

Invoice Factoring Services

 

Largest Factoring Companies

 

List Of Factoring Companies

 

Medical Factoring Companies

 

Medical Staffing Factoring

 

Oilfield Services Factoring Companies

 

Oilfield Factoring Companies

 

Oilfield Services Factoring

 

Receivable Factoring

 

Receivable Factoring Companies

 

Receivable Factoring Rates

 

Receivable Loan

 

Receivables Factoring

 

Receivables Factoring Companies

 

Receivables Factoring Rates

 

Receivables Factoring With Recourse

 

Reviews The Best Factoring Company For Trucking

 

Sale Of Accounts Receivable

 

Sale Receivables

 

Sell Account Receivables

 

Sell Receivables

 

Sell Your Accounts Receivable

 

Staffing Factoring

 

Staffing Factoring Company

 

Staffing Factoring Companies

 

Top Factoring Companies

 

Top Invoice Factoring Companies

 

Top Rated Factoring Companies

 

Transportation Factoring

 

Transportation Factoring Trucking

 

Truck Factoring Companies

 

Trucker Factoring

 

Trucking Factoring Companies