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Thousands Now Play Who Never Thought They Could - Our Factoring Company Can Give Your Trucking Company The Cash You Want


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Factoring invoices is beneficial for numerous reasons. It permits a trucking company to raise cash without acquiring brand-new debt. While financial obligation is sometimes required, the majority of trucking companies would like to raise money without obtaining cash. Financial obligation is dangerous, and when it can not be paid back, possessions can be repossessed. If the debt is large enough, it might even require a trucking firms out of business.

 

My Company has 9 New Products - Imagine - Select A Factoring Company Instead Of A Regular Bank Financing

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

At one time or another, every company, even effective ones, have experienced poor money flow.

Money flow does not have to be an issue any more. Do not be fooled -- banks are not the only places you can get financing. Other solutions are offered and you do not have to borrow money. What is trucking factoring ? One option is called truck factoring. Truck Factoring is the process of offering invoices to a financier rather than waiting to gather the cash from the customer. Oh, the Irony- Trucking factoring has a paradoxical distinction: It is the financial backbone of numerous of America's most effective businesses. Why is this ironic ? Since truck factoring is not instructed in business colleges, is rarely mentioned in company strategies and is fairly unknown to the majority of most of American business people.

Yet it is a monetary procedure that frees billions of dollars every year, enabling countless businesses to grow and succeed. FACTORING has actually been around for thousands of years. Trucking Factoring 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 financial obligation your client has to pay in the near future. Factoring Principals--Although factoring deals solely with business-to-business deals, a big percentage of the retail business uses a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail deals. Using the purest meaning of the word, these large customer finance business are truly simply large Factoring Businesses of consumer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The shop makes money practically instantly, even though you do not pay until you are ready.

For this service, the charge card business charges Sears a fee (typical common normal fees vary from 2 to 4 percent of the sale). The Advantages Receivable Funding can provide many advantages to cash-hungry business. Instead of waiting 30, 60, 90 days or longer for payment on a product that has actually already been delivered, a business can factor (sell) its receivables for money at a small discount off the dollar value of the invoice. Payroll, advertising efforts, and working capital are simply a few of the company needs that can be met with instant  money.

Accounts Receivable Factoring provides the means for a manufacturer to renew inventory and make more products to offer: There is no longer a need to wait for earlier sales to be paid. FACTORING is not simply a money management tool for producers: Almost any kind company can benefit from Truck Factoring. Generally, a company that extends credit will have 10 to 20 percent of its yearly sales tied up in invoices at any given time. Think for a moment about how much is tied up in 60 days' worth of invoices: You can not pay the power bill or this week s payroll with a client s invoice, however you can offer that invoice for the money to meet those obligations. Using trucking factoring companies is a quick and simple process. The factor buys the invoice at a price cut, typically a few portion points less than the face value of the invoice.

 

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The American Truck Association states that there are about 205,000  employees with transportation businesses and 276,000 personal service providers trucking firms licensed to operate in the United States that  transferred, according to their most current data of millions  items, supplies and standard materials . There are a number of  usual carriers either going solo or in groups on our nation highways transporting these vital items to our stores, factories and shipping ports.

Moreover freight invoice  factoring companies service many of them and offer their receivables financing services nationally counting 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

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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:

United States Trucking Companies

Click below to find Trucking Companies in the United States:

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

United States Trucking Companies

Click below to find Trucking Companies in the United States:

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

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.

 

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

 

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

 

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. FreightCenter helps make freight shipping simple, finding you the safest, reliable trucking companies every time you ship. Our 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

 

 

 

 

 

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Reno is a city in the US state of Nevada. Known as ""The Biggest Little City in the World"",[1] Reno is famous for its casinos. The city is situated in the northwestern part of the state and is the county seat of Washoe County. Reno is the most populous Nevada city outside of the Las Vegas metropolitan area. As of the 2010 census, the city had a population of 225,221 making it the fourth most populous city in the state after Las Vegas, Henderson, and North Las Vegas.[2] The city sits in a high desert valley at the foot of the Sierra Nevada.Reno is the birthplace of Caesars Entertainment Corporation. The Reno�Sparks metropolitan area is informally called the Truckee Meadows and consists of nearly 500,000 residentsBefore the late 1950s, Reno was the gambling capital of the United States, but in the last twenty years Las Vegas' rapid growth, American Airlines' 2000 buyout of Reno Air, and the growth of Native American gaming in California have reduced its business. Older casinos were torn down (Mapes Hotel, Fitzgerald's Nevada Club, Primadonna, Horseshoe Club, Harold's Club, Palace Club), or smaller casinos like the Comstock, Sundowner, Golden Phoenix, Kings Inn, Money Tree, Virginian, and Riverboat were either closed or were converted into condos.Because of its location, Reno has traditionally drawn the majority of its California tourists and gamblers from the San Francisco Bay Area and Sacramento, while Las Vegas has historically served more tourists from Southern California and the Phoenix area.Several local large hotel casinos have shown significant growth and have moved gaming further away from the Virginia Street core. These larger hotel casinos are the Atlantis, the Peppermill and the Grand Sierra Resort. The Peppermill was chosen as the most outstanding Reno gaming/hotel property by Casino Player and Nevada magazines. In 2005, the Peppermill Hotel Casino began a $300 million Tuscan-themed expansion.In an effort to bring more tourism to the area, Reno holds several events throughout the year, most of which have been extremely successful. They include Hot August Nights[32] (a classic car convention), Street Vibrations (a motorcycle fan gathering and rally), The Great Reno Balloon Race, a Cinco de Mayo celebration, bowling tournaments (held in the National Bowling Stadium), and the Reno Air Races.Several large commercial developments were constructed during the mid-2000s boom, such as The Summit in 2007 and Legends at Sparks Marina in 2008.Reno is the location of the corporate headquarters for numerous companies, including Braeburn Capital, Hamilton, EE Technologies, Port of Subs, and PC-Doctor. International Game Technology, Bally Technologies and GameTech have development and manufacturing presence in Reno.

 

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Since the mid 1980s Anderson Truck & Haul have been successfully running their freight business. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the boom times from 2002 to 2007 Anderson 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. Cash was flowing and times were good for all.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed down. And worse yet, Anderson 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, Christopher Willis, CEO of Anderson felt a chill go down his spine whenever he would look at the weekly A/R reports. There was a growing list of clients who now owed them back debt.He had already been to the administrators to ask what the actual problem was. Were they doing things different, or wrong, when it came to collecting overdue accounts? By his bookkeepers records, this wasn't the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Anderson money had jumped ship and decided to leave him holding the bag.

 

. They couldn't 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 Anderson hadn't gone elsewhere. They had just gone home.The situation looked dire to Christopher Willis. 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. In the evenings he would discuss his concerns with his wife, Lisa, and still find no relief from the worry and frustration.

 

""I have a bad feeling, Lin,"" he'd sadly say to his wife.""What could you do differently?"" she would ask.Christopher 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,"" Christopher 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."" Lisa would look at her husband lovingly, and holding his hand would say 'It's such a harsh economy these days and our clients must be having difficulty meeting their responsibilities'.""Christopher knew his wife meant well, but he knew that he was responsible for too many people to sit idly by, waiting for the sun to peak over the clouds.The next day Christopher strolled into his office and was determined to sit down and make every phone call to every client who had owed Anderson money. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. A waste of time - a waste of money - he had the best intentions, but all the while Christopher 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 Juditherley knocked at his door.

 

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

 

""Of course Judith, please come in."" Christopher relaxed back into his chair and looked up at Juditherley.""Well Christopher, this afternoon I did some research, trying to work out how we're going to get out of this mess."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard of factoring?"" Juditherley asked.""It sounds vaguely familiar. What is it?"" he said.She began, ""Well, it's really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""""Immediately?"" Christopher interrupted.""Immediately, yes"" she added, ""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.. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It provides a very broad view.��I see,� Christopher said. �And then what?��Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

This company tells us what the cost will be to purchase factoring for our accounts receivable. The funding commences once we�ve arrived at an agreement.�Christopher was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Judith,"" 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, Christopher,"" she drew a circle around a paragraph on the document before him.""Just 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. It only takes 2 to 4 days for this to be figured out. """"It does all sound pretty good, remembering that we're all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" said Christopher.He took a deep breath and looked at his secretary with something she recognized as hope.""Precisely�. This could be the answer to our prayers: it will solve many problems we're facing due to these unpaid debts.""Christopher thought about this and agreed with Juditherley. The customers who were in debt to Anderson 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. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. If he didn't handle these debtors in the right way, that unknown amount of time could spell disaster for all 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 Judith, thank you."" Judith nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Christopher keep the shirt on his back, and possibly hers too.Christopher 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 Anderson Truck & Haul 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. Christopher was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Christopher 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.""I must tell Angel the good news,"" muttered Christopher to himself.Christopher's son-in-law, Angel, loved the idea behind Anderson and highly respected his father-in-law for having such great business sense, that two years ago he got his capital together and started his own transportation company. Christopher knew then what struggles Angel would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Anderson was hurting, a little guy like Angel was about to catch his death. Perhaps the antidote to these problems was in freight factoring, and they were about to find out.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Christopher found himself beginning to dig his way out of the hole his delinquent account holders had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They took that time and refocused effort to offering competitive prices in new territories. Christopher recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. He probably wouldn't be in business today had he not learned just in time about freight factoring.

 

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More Trucking Factoring Companies Story Articles

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

 

More than forty years ago Jonathan's father had started this business working as an owner-operator and eventually growing Reed 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 Jonathan'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. But now things were different: the company was in Jonathan's hands and he needed to ensure that this business would be left in great 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 all have families and the usual household bills. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. Every time he had to turn down a request, Reed Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Jonathan chuckled, thinking about his father. His father had been against placing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. He knew his father's days were long gone and new technology was very important for the business, like having Qualcomm to reduce communication time for bills of lading.

 

Jonathan knew he was right in his forward thinking. What would be the next step for Reed Trucking? More importantly, how could he afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

But was factoring the answer? There was a lot he didn�t understand about the process. It sounded like a ninth grade math problem and he wondered how this would fit into 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.

 

Jonathan had to really consider what his next step was going to be. 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! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

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. 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. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he wouldn't have to keep going back and forth to different companies. 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. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It was good money.

 

It was really refreshing dealing with the factoring people. They were extremely helpful and more personable than the bank staff. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies were not interested in his credit nor the financial problems his father had experienced in the past. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Jonathan because he and his father had created a very strong and loyal list of clientele over the years. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients wouldn't have any problems, nor would they think poorly of Reed Trucking, because the factoring companies handle themselves in such a polite and professional manner, similar to the way his father had managed the business in the past.

 

Jonathan 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 Reed 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.

 

 

 

 

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Trucking Factoring  Articles

�So It is not a loan?� asked Joseph Foster, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�No, not exactly,� she stated.Joseph was the owner of a small trucking company which had fallen on some hard times recently. Trucking could be a profitable business, and for a little under a decade, it had been for Eduardo. His company was called Graham Trucking, named after both of his grandfathers, Christopher and Albert. They had both been hardworking men, and had done a lot to make Joseph the same.Disaster had struck half a year ago, when two trucks in Eduardo�s fifteen truck fleet went down. One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. The financial security of Eduardo's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . In addition, he just didn't 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.

 

You could go a month or more before bills were completely paid off. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Joseph 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. Joseph knew she was employed by a Factoring company and that her name was Ruth. Joseph 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.Ruth explained. �it is really not a loan at all: we actually buy your accounts receivable. We're not giving you finance to be repaid later: we're purchasing something from you, and when you can you can buy it back. That way we�re protected from a complete loss, but you�re protected from the outrageous fees you would find in a loan from the bank.Joseph agreed. It sounded perfect - perhaps too good?.The woman 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 thought I was going to lose my company.�Ruth nodded. �Yes, we get a lot of that. Listen, I�d hate to see you lose your company. We know how hard you work, and that you've invested everything in your business. Sometimes you need help. That's why we do what we do.��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,� Ruth said with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Joseph completed the form, with Ruth offering advice as needed.

 

The profile filled Ruth and her company in on Eduardo�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 Joseph completed his form, Ruth listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Ruth took it and slid it into her briefcase. She then stood, reached across the desk and shook Eduardo�s hand. He also stood up, and they smiled at each other. They said their goodbyes and Joseph 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 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. But now, after speaking to Ruth and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.All those long, sleepless nights. The terrifying panic attacks that occurred regardless of where he was. Already he could feel all the stress start to drain 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.Joseph couldn�t help but think back to when he had first started the business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been successful. Offering home cooking in his own hometown, his business had really prospered.But it wasn't what he really wanted to do. He wasn't passionate about the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took half a year off, and in that time he thought to start Graham 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.And then the trucks went down, and his success looked to be in flux. He was nearing fifty. He was concerned that he just didn't have the energy left to try and save the business. But he couldn�t give up. The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He didn�t know how to say quit.And now it seemed as though he wouldn't have to - all because of Factoring. Joseph opened his eyes, sat forward, turned his computer on. He had things to do. He could be thankful later, for now, it was time to work.

 

 

 

More Trucking Factoring Company Story Articles

Why Trucking Companies Work with Factoring Companies.

 

As the operator of your own business, you may be more than conscious already of the challenge in making sure that cash flow matters do not become a difficulty down the line. After all, the most terrible thing that can in all probability occur for your enterprise is to find yourself involved in a long and perplexing situation that leaves you forever looking for the cash you need to have on an continual basis.

 

For virtually any company in this situation, the complication can come for waiting for work to lapse and actually be paid into your statement. Bill of sales, checks, and the like can take some time to actually to be taken care of which can certainly leave you with short-term capital troubles. Luckily, there are alternatives out there for industries to check out-- and among these is factoring firms.

 

Factoring agencies will, in trade for your statements, provide you with the money right away to ensure you don't need to worry about the lingering time frame that could make paying off the bills and getting materialsmore hard. With this type of arrangement, invoice factoring can become extremely beneficial for several firms who need to avoid a cash pitfall which they have discovered themselves in.

 

For the reason that, basing on the volume of the task, it can take up to 60 days for a number of companies to get paid then it's critical to take care of your own back and not leave yourself cash short to pay off the costs. After all, how many business enterprises possess two months profits just lying there to handle all their expenditures until they get paid?

 

This is most notably correct of truck agencies. They usually handle great deals of statements which means a serious quantity of collection period concerns business owner themselves. Seeking to get compensated promptly can eventually become an amazing headache and this is the key reasons why you employ trucking factoring firms who are delighted to help out truckers particularly.

 

As all of us determine, trucking is an incredibly large field with lots of firms out there utilizing hundreds of vehicle drivers. The sad thing is, several of these drivers end up in cash difficulties since they are still waiting for work from six weeks earlier to actually pay them. When this is the scenario for a trucking company, turning to factoring agencies for aid may be the very best alternative left.

 

This signifies that a trucking company can pay the salaries of the crew, keep all the cars loaded with gas and continue to escalate, rise and expand without continually waiting for the cash which is taking too prolonged to come in. Trucking Business enterprises running without a factoring program put in place are leaving themselves at substantial threat, as competitors cash out fast and proceed to develop.

 

There's genuinely almost nothing to be distressed about when it comes to working with a Factoring company-- they usually are not like a banking company or a person who is going to leave you with a large heap of liability to pay back. You give them genuine invoices from job you have already finalized , you are just hastening the payment system.

 

In the United States, where trucking firms flourish, factoring firms are not considered getting a loan in any capacity. This confidential arrangement then allows both groups to profit and indulge in a worry-free future-- it gives the factoring provider a guaranteed resource of income to include in the list and it gives the trucking business the required finances that they sweated to acquire.

 

The trucking business provides their statements to the factoring enterprise. The trucking factoring business then receive the payments from the trucking company's customers. Factoring has been all around for hundreds of years and has been employed for many years by plenty of varying business sectors-- but none much 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 means that you are receiving the resources today and can actually begin putting the money to work.

 

Anyway, an IOU or an invoice is not actually going to cover bills, is it? For trucking companies when the hard earned cash can be really good one day and gone the next, it's up to the drivers to work sensibly and to guarantee they are leaving themselves with a considerable amount of time and finance to get through the week up until they are compensated once again.

 

So the next instance your trucking company is having some temporary cash flow problems and you are devoting excessive time chasing sluggish paying clienteles, why not begin looking into employing a factoring businesses as a way to get your money and give yourself a more at ease future in the eyes of your trucking workers and your bank balance?

 

 

 

 

 

 

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Traditional Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. These loans can be a life-saver, but they're not always available to every business. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it's usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to 'sell.' Once you have set up Trucking Factoring account it continues as long as you wish it too and the amount of money available to you even can grow as your business grows, giving you the ready cash you need to meet your own obligations.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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

 

1. You Won't Incur Debt. You don't incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. This has many benefits including the fact, that this type of financing won't affect either your business credit rating or your personal credit rating. 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. No Collateral Required. Another great benefit of using the services of a Trucking Factoring company instead of a bank loan is that there is no collateral required for the Trucking Factoring company, because the Trucking Factoring company is 'buying' your accounts receivables. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This 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. Using a Trucking Factoring company means that you'll get the finance quicker. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.

 

4.Interest is Paid Up Front. With a bank loan interest continues to build, and this has to be paid the whole time you have a business loan; however with a Trucking Factoring company there is no interest - they take it right off the top by deducting it from the total amount of receivable accounts. So not only are you relieved of those monthly loan payments, but you also don't have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The 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 efficient at debt collecting, and this frees up your valuable time to devote to running your company.

 

In addition, since the Trucking Factoring company evaluates the credit quality of your customers prior to purchasing the accounts receivable you gain valuable information into which customers are likely to pay and which ones are not so likely to pay.A Trucking Factoring company is not the only method of gaining access to finance for the running and growing of your business, however it does offer a financing option well worth considering.

 

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Invoice Factoring Companies by City

New York City
Los Angeles
Chicago
Houston
Philadelphia
Phoenix
San Antonio
San Diego
Dallas
San Jose

Austin
Jacksonville
Indianapolis
San Francisco
Columbus
Fort Worth
Charlotte
Detroit
El Paso
Memphis

Boston
Seattle
Denver
Washington DC
Nashville-Davidson
Baltimore
Louisville/Jefferson
Portland
Oklahoma City
Milwaukee

Las Vegas
Albuquerque
Tucson
Fresno
Sacramento
Long Beach
Kansas City
Mesa
Virginia Beach
Atlanta

Colorado Springs
Raleigh
Omaha
Miami
Oakland
Tulsa
Minneapolis
Cleveland
Wichita
Arlington

New Orleans
Bakersfield
Tampa
Honolulu
Anaheim
Aurora
Santa Ana
St. Louis
Riverside
Corpus Christi

Pittsburgh
Lexington Fayette
Anchorage
Stockton
Cincinnati
St. Paul
Toledo
Newark
Greensboro
Plano

Henderson
Lincoln
Buffalo
Fort Wayne
Jersey
Chula Vista
Orlando
St. Petersburg
Norfolk
Chandler

Laredo
Madison
Durham
Lubbock
Winston Salem
Garland
Glendale
Hialeah
Reno
Baton Rouge

Irvine
Chesapeake
Irving
Scottsdale
North Las Vegas
Fremont
Gilbert town
San Bernardino
Boise
Birmingham
Rochester
Richmond
Spokane
Des Moines