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How To Rob Banks Legally - Our Truck Factoring Companies Can Give
Your Freight Company The Money You Want

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Factoring invoices is beneficial for several reasons. It enables a truck company to raise money without obtaining new debt. While debt is often essential, the majority of freight brokerage would choose to raise cash without obtaining cash. Debt is high-risk, and when it can not be paid back, possessions can be repossessed. If the debt is huge enough, it may even require a truck businesses out of business.

 

 

 

 

 

 

 

The Instrument of Profitable Companies - Pick An Invoice Factoring Company Instead Of A Traditional Bank Funding

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

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

Money flow does not have to be a problem any more. Do not be fooled -- banks are not the only locations you can get funding. Other options are offered and you do not have to borrow. What is trucking factoring ? One option is called truck factoring. Trucking Factoring is the process of selling accounts receivable to a financier rather than waiting to gather the cash from the client. Oh, the Irony- Truck factoring has a paradoxical distinction: It is the financial backbone of numerous of America's most successful companies. Why is this ironic ? Because receivable funding is not taught in business colleges, is rarely mentioned in business strategies and is fairly unidentified to the majority of most of American company people.

Yet it is a financial process that frees billions of dollars every year, allowing thousands of companies to grow and succeed. Commercial Factoring has actually been around for countless years. Receivable Loan Funding Companies are financiers who pay money for the right to get the future payments on your invoices. An unpaid receivable or invoice has value. It is a debt your client has actually to pay in the near future. Factoring Principals--Although factoring offers solely with business-to-business transactions, a large portion of the retail business uses a factoring principal. MasterCard, Visa, and American Express all utilize a type of factoring in their retail deals. Utilizing the purest definition of the word, these big consumer finance companies are really simply big Factoring Companies of consumer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The store makes money almost instantly, even though you do not pay until you are prepared.

For this service, the charge card company charges Sears a fee (typical common normal charges range from 2 to 4 percent of the sale). The Benefits Commercial Factoring can offer many benefits to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on an item that has currently been provided, a business can factor (sell) its receivables for money at a little 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 satisfied with instant  money.

Accounts Receivable Factoring offers the ways for a manufacturer to replenish stock and make more items to sell: There is no longer a need to await for earlier sales to be paid. Receivable Loan Financing is not just a money management device for manufacturers: Practically any type business can benefit from Trucking Factoring. Typically, a business that extends credit will have 10 to 20 percent of its yearly sales bound in invoices 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 this week s payroll with a client s invoice, but you can offer that invoice for the cash to meet those obligations. Using truck factoring companies is a quick and simple procedure. The factor buys the invoice at a price cut, typically a couple of percentage points less than the stated value of the invoice.

 

 

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The United states Truck Association
mentions that there are about
205,000 workers with transportation
companies and
250,000 personal providers trucking
firms licensed to
run in the States that carried,
according to their most current searchings for billions of
items, supplies and
standard products .
There are a number of common
carriers either going solo or in
groups on our country
roads transferring these
important products to our
shops, manufacturing facilities and harbors.

Plus freight bill factoring
businesses service
countless of them and offer their
receivables financing services
countrywidecomprising
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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Nashville is the capital of the U.S. state of Tennessee and the county seat of Davidson County. It is located on the Cumberland River in the north-central part of the state. The city is a center for the music, healthcare, publishing, banking and transportation industries, and is home to a large number of colleges and universities. Reflecting the city's position in state government, Nashville is home to the Tennessee Supreme Court's courthouse for Middle Tennessee. It is known as a center of the music industry, earning it the nickname ""Music City"".Nashville has a consolidated city�county government which includes six smaller municipalities in a two-tier system. As of the 2010 census the population of Nashville, not including the semi-independent municipalities, stood at 601,222. The population of Nashville as a whole, including all municipalities, was 626,681. Nashville is the second largest city in Tennessee, after Memphis, and the fifth largest city in the Southeastern United States. The 2010 population of the entire 13-county Nashville metropolitan area was 1,589,934, making it the largest Metropolitan Statistical Area in the state. The 2010 population of the Nashville-Davidson�Murfreesboro�Columbia combined statistical area, a larger trade area, was 1,670,890.[8As the ""home of country music"", Nashville has become a major music recording and production center. All of the Big Four record labels, as well as numerous independent labels, have offices in Nashville, mostly in the Music Row area. Nashville has been home to the headquarters of guitar company Gibson since 1984. Since the 1960s, Nashville has been the second-largest music production center (after New York) in the U.S. As of 2006, Nashville's music industry is estimated to have a total economic impact of US$6.4 billion per year and to contribute 19,000 jobs to the Nashville area.Although Nashville is renowned as a music recording center and tourist destination, its largest industry is actually health care. Nashville is home to more than 300 health care companies,As of 2012, it is estimated that the health care industry contributes US$30 billion per year and 200,000 jobs to the Nashville-area economy. The automotive industry is also becoming increasingly important for the entire Middle Tennessee region. . Largely as a result of the increased development and other Japanese economic interests in the region, Japan moved its New Orleans consulate-general to Nashville's Palmer Plaza.Other major industries in Nashville include insurance, finance, and publishing (especially religious publishing). .Nashville is also known for some of their famously popular Southern confections, including (which have been made in Nashville since 1912).

 

"

 

 

 

View Our Factoring YouTube Video For More Information

 

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

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

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

 

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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

 

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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

 

 

"

Since the mid 1980s Cooper 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 heady times from 2002 to 2007, Cooper was a top rated accounts receivable mastermind of 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. The money was flowing, and times were great.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed to a crawl

 

. And worse yet, Cooper 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. Spring changed to summer, summer changed to fall, and the CEO of Cooper, Ralph Ryan, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. There was a growing list of clients who now owed them back debt.He had 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? When checking his bookkeeper's records this was definitely not 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 Cooper money had jumped ship and decided to leave him holding the bag.

 

. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. 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 Ralph Ryan to have some very restless nights. 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. After work he would confide in his wife, Joan, and neither were unable to stop the constant worry over the lack of funds.""Lin, I have a really bad feeling,"" he would say with deep woe.""What could you do differently?"" she would ask.Ralph would stare off into the distance, and then slowly close his eyes. He could see the fleet of trucks he had purchased over the years. He could see them on the road, delivering good to all his loyal customers. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. What could cause this ultimate death spiral of business?""I think I know what it could be,"" Ralph 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."" All Joan could do was hold his hand and look at him tenderly. 'We know it is a difficult economy at the moment - perhaps it will take a while for people to get on top of their bills'.""Ralph knew his wife meant well, but he knew that he was responsible for too many people to sit idly by, waiting for the sun to peak over the clouds.The following day Ralph walked into his office with a spring in his step, determined to call each and every client who owed money to Cooper 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, Ralph 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 Sharonerley knocked at his door.

 

""Ralph, can I have a word?"" she asked standing in the doorway.

 

""Of course Sharon, please come in."" Ralph leaned back in his chair and looked expectantly at Sharonerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Ralph."" 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 the word factoring?"" she asked.""It sounds vaguely familiar. What is factoring""? he asked.She began, ""Well, it is really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Immediately?"" Ralph interrupted.""Yes, immediately,"" she continued, ""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. 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.""Ralph replied cautiously ""I see - and what happens then?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. There�s a lot of flexibility depending on the business volume and credit histories. 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.�Ralph leaned forward and reviewed the paperwork closely.""It sounds too good to be true, Sharon,"" he said.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Ralph: they've guaranteed that experts will do all the paperwork, and that will free us up to do what we should be doing - focusing on our customers in good standing, and that kind of stuff. And they're flexible Ralph,"" she underlined a paragraph on the paper before him.""How flexible?"" asked Ralph.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. It only takes 2 to 4 days for this to be figured out. ""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,"" Ralph said.Ralph took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Ralph took a moment to think about this solution, and agreed with his secretary. The clients who owed them money were long standing friends and professional resources of Cooper. They did not want to throw away these relationships because they were having trouble paying their bills now. Ralph knew only too well that the whole economy was floundering, and that it was not going to change overnight. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. He did not want to lose business but he also did not want to lose any more money.""Well, let me think about this tonight Sharon, thank you."" Sharon stood up and left Ralph's office, with the nice feeling of knowing that she may just have solved a very serious problem.Ralph 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 Cooper 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. Ralph was surprised: it said that his company could get up to fifty percent cash advances on load pickups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""I must tell Charles the good news,"" muttered Ralph to himself.Ralph's son-in-law, Charles, loved the idea behind Cooper 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. Ralph knew then what struggles Charles would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Cooper was hurting, a little guy like Charles was about to catch his death. But, maybe the answer for both of them was in freight factoring, and Ralph 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, Ralph 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 took that time and refocused effort to offering competitive prices in new territories. Ralph 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.

 

"

 

 

More Trucking Factoring Companies Story Articles

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

 

Lewis�s father had started as an owner-operator and had grown Cunningham Trucking Company into a fifteen trailer fleet over forty years. There had been some hard times when it seemed everything was going to go under and even Lewis�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 Lewis�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 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. He knew that turning down these requests made Cunningham 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. Lewis allowed himself a good hard chuckle. He remembered when his father was totally against installing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). His father days were long gone and technology was actually an important improvement for the business such as having Qualcomm to cut down on fruitless time communicating on the phone for bills of lading.

 

Lewis knew he was right in his forward thinking. What would be the next step for Cunningham 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.

 

But was factoring the answer? There was a lot he didn�t understand about the process. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. 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 cannot pay its employees and bills with invoices.

 

Now it was time for Lewis to do his homework. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His 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. 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. 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 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 didn�t worry over his credit and the debt troubles his father had had in the past of the company. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Lewis because he and his father had created a very strong and loyal list of clientele over the years. So he knew they would understand when the factoring company contacted them for the invoices. His clients wouldn�t think poorly of Cunningham 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, Lewis 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 Cunningham Trucking Company and who knows, move into Canada, which had always been his dream. His heart felt full knowing his sons wouldn�t have to worry about money because of the right decisions he had made for their trucking business.

 

 

 

 

 

 

 

 

Best Factoring Companies

 

Factoring Association

 

 

 

View Our Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So, this is not a loan?� Marshall Clark asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Marshall smiled at him, shaking her head.�Not quite,� she said.Marshall Clark 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 Kirk. His company was called Welch Trucking, named after both of his grandfathers, Leo and Ralph. They had both been hardworking men, and had done a lot to make Marshall the same.Disaster had struck half a year ago, when two trucks in Kirk�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. Marshall 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.A big problem a lot of trucking companies came across was how bills were paid in the industry. 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.Marshall was an excellent business man, and he certainly hadn't done anything wrong. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.And that's why he found himself across the desk from this woman. Her name was Samantha and she worked for a factoring company. Marshall 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. This is a win-win situation: we are protected from a total loss, and you're protected from the ridiculous fees and charges you'd have to pay if you borrowed from a bank.Marshall agreed. It sounded perfect - perhaps too good?.Samantha laughed. �I'm not sure that you believe me,� she said.�Oh no, I do: it just sounds too good to be true. I thought I was going to lose my company.�Samantha smiled, agreeing. �Yes, we get a lot of that. Listen, I�d hate to see you lose your company. You work hard, you�ve put everything you can into it. Sometimes you need help. That�s what we�re here for.""Well, I'm very grateful that you came to see me today.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Samantha with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Marshall completed the form, with Samantha offering advice as needed.

 

The completed profile gave Samantha and her company all the information they needed on Kirk's business, and with this information they would determine if this business would in fact be suitable for Factoring. Unfortunately, not all companies are. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. As Marshall completed his form, Samantha listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Samantha took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Kirk�s hand. He also stood up, and they smiled at each other. Marshall walked Samantha 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 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 Samantha 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 sudden panic attacks, not matter 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.His mind wandered back to the very beginning, when he first started his 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. His passion didn�t lie with the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took six months off, and during that time he decided to create Welch Trucking. And that's exactly what he did. For the second time in his short life he created a company from the ground up. He had been successful.And then the trucks went down, and his success looked to be in flux. He was nearing fifty. He was concerned that he just did not 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 did not want to quit - both for himself and for his staff members.And now it seemed as though he would not have to - all because of Factoring. Marshall 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 Truck Establishments Employ Factoring Firms.

 

As the operator of your own company, you may well be more than knowledgeable already of the difficulty in making certain that capital matters do not become a predicament down the line. After all, the most disappointing thing that can quite possibly transpire for your enterprise is to find yourself dragged in a long and challenging circumstance that leaves you forever searching for the money you necessitate on an on-going manner.

 

For any sort of business in this circumstance, the issue can come for waiting for work to lapse and actually be brought in into your balance. Statements, checks, and the like could take a while to actually to beprocessed which can leave you with momentary available resources difficulties. Thankfully, there are solutions out there for companies to check out-- and just one of these is factoring firms.

 

Factoring companies will, in substitution for your bill of sales, supply you with the cash money now in order that you do not need to fret about the waiting duration which could make paying the bills and acquiring materialsmore hard. With this kind of setup, invoice factoring can become extremely helpful for plenty of companies who ought to avoid a cash lure which they have found themselves in.

 

Given that, depending on the volume of the work, it can take up to 60 days for a number of business enterprises to get compensated then it is crucial to cover up your own back and certainly not leave yourself resources short to settle the bills. After all, how many firms possess two months revenue just occupying there to cover all their overheads till they make money?

 

This is most especially correct of truck enterprises. They have the tendency to manage numbers of invoices which means a notable volume of collection time entails business owner themselves. Trying to get paid off promptly can eventually become an unbelievable trouble and this is the reason why you work with trucking factoring providers who are glad to help out truckers specifically.

 

As most of us know, trucking is an exceptionally massive field with plenty of agencies out there employing hundreds of vehicle drivers. The sad thing is, quite a few of these drivers end up in finances difficulties because they are still awaiting work from six weeks ago to actually pay them. When this is the case for a trucking company, depending on factoring agencies for reinforcement might be the most suitable option left.

 

This signifies that a truck company can pay off the wages of the workers, keep all the vehicles loaded with fuel and continue to scale, evolve and expand without always waiting for the resources which is taking too long to come in. Trucking Businesses operating without a factoring system applied are leaving themselves at significant risk, as contenders cash out promptly and go on to develop.

 

There's honestly not much to be worried about when it comes to making use of a Factoring establishment-- they commonly are not like a banking company or someone who is going to leave you with a substantial heap of financial debt to repay. You give them legitimate invoices from output you have already finished , you are only expediting the repayment system.

 

In the United states of America, where trucking agencies thrive, factoring establishments are not considered borrowing in any capacity. This private deal then enables both parties to profit and delight in a worry-free future-- it gives the factoring company a secured asset of cash flow to put into the list and it offers the trucking company the needed finances that they sweated to get.

 

The trucking enterprise gives their accounts to the factoring establishment. The trucking factoring firm then receive the installment payments from the trucking company's customers. Factoring has beenaround for hundreds of years and has been employed for long times by a lot of different industries-- but none exceeding so than truckers. While you might lose out on a small part of the money, something like 1-3 % depending on who you work with, it implies that you are receiving the funds today and can actually start off setting the resources to operate.

 

Anyway, an IOU or an invoice is absolutely not going to finance costs, is it? For trucking agencies when the cash can be fantastic one day and gone the next, it is up to the vehicle drivers to work smartly and to guarantee they are leaving themselves with a considerable measure of time and money to get through the week until they are handed over once again.

 

So the next occasion your trucking establishment is enduring some short-term capital troubles and you are shelling out way too much time chasing sluggish paying clienteles, why not start looking into employing a factoring businesses as a means to get your money and give yourself a more pleasant future in the eyes of your trucking crew and your bank balance?

 

 

 

 

 

 

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Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. These loans can be a life-saver, but they're not always available to every business. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. 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. 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 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

 

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

 

1. You will not Incur Debt. You do not 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 will not be affected. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. There's 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. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.

 

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

 

As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

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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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