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Here Is a Quick way to Shore Up Your Cash Flow - Our Receivable Loan Company Can Provide
Your Trucking Company The Cash Your Company Needs

accountreceivablefactor.com

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Using a Truck Factoring Company is useful for numerous reasons. It enables a trucking company to raise cash without getting brand-new debt. While financial obligation is in some cases required, most freight brokerage would like to raise cash without borrowing money. Debt is dangerous, and when it can not be paid back, possessions can be repossessed. If the debt is huge enough, it might even require a truck businesses out of business.

 

 

 

 

 

 

 

How To Get Rich With - Choose An Invoice Factoring Company Instead Of A Regular Bank Funding

How to Enhance Cash Flow Without Loaning -Cash Money flow is among the main reasons businesses fail.

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

Cash flow does not have to be an issue any more. Do not be deceived -- banks are not the only places you can get funding. Other solutions are offered and you do not have to borrow money. Exactly what is trucking factoring ? One option is called truck factoring. Truck Factoring is the procedure of selling accounts receivable to a financier instead of waiting to gather the money from the customer. Oh, the Irony- Truck factoring has a paradoxical distinction: It is the financial backbone of many of America's most successful companies. Why is this paradoxical ? Since staffing factoring is not taught in business colleges, is rarely discussed in business strategies and is fairly unknown to the majority of most of American business people.

Yet it is a financial process that releases up billions of dollars every year, allowing countless businesses to grow and prosper. Receivable Loan Financing has actually been around for thousands of years. Accounts Receivable Factoring Businesses are investors who pay money for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a debt your client has to pay in the near future. Factoring Principals--Although factoring offers exclusively 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 transactions. Using the purest meaning of the word, these large consumer finance business are truly simply large Receivable Funding Companies of customer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The store gets paid practically instantly, even though you do not pay until you are prepared.

For this service, the credit card company charges Sears a charge (typical common normal fees vary from 2 to four percent of the sale). The Advantages Staffing Factoring can offer many benefits to cash-hungry companies. Instead of waiting 30, 60, 90 days or longer for payment on a product that has actually already been provided, a company can factor (sell) its receivables for money at a little discount off the amount of the invoice. Payroll, advertising efforts, and working capital are simply a few of the business requirements that can be satisfied with instant  money.

Account Receivable Financing offers the ways for a manufacturer to renew stock and make more products to offer: There is no longer a requirement to await for earlier sales to be paid. FACTORING is not just a money management device for producers: Practically any kind company can take advantage of 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 moment about how much is bound in 60 days' worth of invoices: You can not pay the power bill or this week s payroll with a customer s invoice, however you can sell that invoice for the money to meet those obligations. Using truck factoring companies is a fast and simple procedure. The factor buys the invoice at a discount, usually a few percentage points less than the face value of the invoice.

 

 

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The U.s. Truck Association
specifies that there around
205,000 truck drivers with truck
firms and
276,000 personal service providers trucking
firms certified to
run in America that transferred,
according to their most current data of millions
items, supplies and
standard products .
There are numerous common
carriers either going solo or in
groups on our country
roads transferring these
vital items to our
shops, manufacturingplants and harbors.

Also freight bill factoring
businesses aid
numerous of them and offer their
receivable loan services
countrywideincluding
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

 

 

"

Jacksonville's location on the St. Johns River and the Atlantic Ocean proved providential in the growth of the city and its industry. Jacksonville has the largest deepwater port in the South (as well as the second-largest port on the U.S. East coast) and a leading port in the U.S. for automobile imports, as well as the leading transportation and distribution hub in the state. However, the strength of the city's economy lies in its broad diversification. While the area once had many thriving dairies, this aspect of the economy has declined over time. The area's economy is balanced among distribution, financial services, biomedical technology, consumer goods, information services, manufacturing, insurance and other industries.Jacksonville is a rail, air, and highway focal point and a busy port of entry, with Jacksonville International Airport, ship repair yards and extensive freight-handling facilities. Lumber, phosphate, paper, cigars and wood pulp are the principal exports; automobiles and coffee are among imports. The city's manufacturing base provides just 4.5% of local jobs, versus 8.5% nationally. According to in 2007, Jacksonville, Florida ranked 3rd in the top ten U.S. cities to relocate to find a job. Jacksonville was also the 10th fastest growing city in the U.S.Jacksonville is home to many prominent corporations and organizations, including the headquarters of four Fortune 500 companies: are also based in Jacksonville.In 2008, Jacksonville had approximately 2.8 million visitors who stayed overnight, spending nearly $1 billion. Research Data Services of Tampa was commissioned to undertake the study, which quantified the importance of tourism. The total economic impact was $1.6 billion and supported nearly 43,000 jobs, 10% of the local workforce.Cecil Commerce Center is located on the site of the former Naval Air Station Cecil Field which closed in 1999 following the 1993 Base Realignment and Closure (BRAC) decision. Covering a total area of 22,939 acres (92.83 km2), it was the largest military base in the Jacksonville area. The parcel contains more than 3% of the total land area in Duval County (17,000 acres (69 km2)). The industrial and commercial-zoned center offers mid to large-size parcels for development and boasts excellent transportation and utility infrastructure as well as the third-longest runway in Florida.To emphasize the city's transportation business and capabilities, the Jacksonville It was formally registered on August 4, 2009. Cornerstone began promoting the city as ""Jacksonville: America's Logistics Center"" in 2009. Signs were added to the existing city limit markers on Interstate 95.Jacksonville is home to multiple military facilities, and with Naval Submarine Base Kings Bay nearby gives Jacksonville the third largest naval presence in the country. Only Norfolk, Virginia and San Diego, California are bigger. The military is by far the largest employer in Jacksonville and its total economic impact is approximately $6.1 billion annually. Blount Island Terminal with the Dames Point Bridge in the background.Naval Air Station Jacksonville is a military airport located 4 miles (6.4 km) south of the central business district. Approximately 23,000 civilian and active-duty personnel are employed on the base. There are 35 operational units/squadrons assigned there and support facilities include an airfield for pilot training, a maintenance depot capable of virtually any task, from changing a tire to intricate micro-electronics or total engine disassembly. Also on-site is a Naval Hospital, a Fleet Industrial Supply Center, a Navy Family Service Center, and recreational facilities.Naval Station Mayport is a Navy Ship Base that is the third largest fleet concentration area in the United States. Mayport's operational composition is unique, with a busy harbor capable of accommodating 34 ships and an 8,000-foot (2,400 m) runway capable of handling any aircraft used by the Department of Defense. Until 2007, it was home to the aircraft carrier USS John F. Kennedy, which locals called ""Big John"". In January 2009, the Navy committed to stationing a nuclear-powered carrier at Mayport when the official Record of Decision was signed. The port will require approximately $500 million in facility enhancements to support the larger vessel, which will take several years to complete. The carrier is projected to arrive in 2019, however an amphibious group is coming sooner.Blount Island Command is a Marine Corps Logistics Base whose mission is to support the Maritime Prepositioning Force (MPF) which provides for rapid deployment of personnel to link up with prepositioned equipment and supplies embarked aboard forward deployed Maritime Prepositioning Ships (MPS).USS Jacksonville, a nuclear-powered Los Angeles class submarine, is a US Navy ship named for the city. The ship's nickname is The Bold One and Norfolk, Virginia is her home port.The Florida Air National Guard is based at Jacksonville International Airport.Coast Guard Sector Jacksonville is located on the St. Johns River next to Naval Station Mayport. Sector Jacksonville controls operations from Kings Bay, GA south to Cape Canaveral, FL. The CGC Kingfisher, CGC Maria Bray, and CGC Hammer are stationed at the Sector. Station Mayport is co-located with Sector Jacksonville and includes 25-foot (7.6 m) Response Boats, and 47-foot (14 m) Motor Life Boats.The Port of Jacksonville, a seaport on the St. Johns River, is a large component of the local economy. Approximately 50,000 jobs in Northeast Florida are related to port activity and the port has an economic impact of $2.7 billion in Northeast Florida

 

"

 

 

 

View Our Trucking Factoring YouTube Videos For More Information

 

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

Click below to find Trucking Companies in the United States:

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

Click below to find Trucking Companies in the United States:

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

Click below to find Trucking Companies in the United States:

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

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 Top 50 Trucking Companies list, based on data prepared by 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.

 

 

"

Mason Truck & Haul have been operating their business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the heady times from 2002 to 2007, Mason was a top rated accounts receivable mastermind of the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. 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. And worse yet, Mason 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 Mason, Don Reid, 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 something wrong or different when it came to reaching out to delinquent accounts? By his bookkeepers records, this wasn't the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. They could not afford to pay him their debt, but they could afford a lesser service, maybe. 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!.The situation looked dire to Don Reid. 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, Juanita, and still find no relief from the worry and frustration.

 

""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would say.Don 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 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,"" said Don. ""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."" Linda could only grab her husband's hand and look at him lovingly, ""it is a hard economy. It might be awhile until things get settled up.

 

""Don 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 Don strolled into his office and was determined to sit down and make every phone call to every client who had owed Mason money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Don knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. 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, Don knew that he was in trouble.

 

Poor Don spent the whole morning trying in vain to contact his debtors: they promised to call back, dodged his calls, or made small interest-only payments. He was beginning to feel quite despaired when his secretary knocked on his door.

 

""Can I have a word with you Don?"" she queried, standing in the doorway.

 

""Of course Pauline, please come in."" Don leaned back in his chair and looked expectantly at Paulineerely.""Well Don, this afternoon I did some research, trying to work out how we are 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 the word factoring?"" she asked.""It does sound vaguely familiar. What is it?"" he said.She began, ""Well, it is really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Don interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""In a nutshell, it is 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,� Don said. �And then what?""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. This company tells us what the cost will be to purchase factoring for our accounts receivable. Once we arrive at a mutual agreement, the funding begins.�Leaning forward, Don studied the documents very closely.""It sounds too good to be true, Pauline,"" he said.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Don: 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 Don,"" she drew a circle around a paragraph on the document before him.""How flexible?"" he asked.""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. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" Don said.Don took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Precisely�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Don thought about this and agreed with Paulineerley. The clients who owed them money were long standing friends and professional resources of Mason. Don wasn't prepared to lose these relationships just because they were having financial issues at the moment. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. That unknown amount of time could create a disaster situation for both of them if he wasn't careful in how these debtors were handled. Of course he did not want to lose any more money, but he did not want to lose business either.""Let me go over this tonight Pauline, and thankyou."" Pauline nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Don keep the shirt on his back, and possibly hers too.Don 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 Mason with? With his pencil gliding down the sheet he noticed that the factoring company could help fray the cost of fuel with fuel discount cards and fuel advances. Don 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.""Well, I'll have to tell Sidney about this,"" Don muttered to himself.Sidney is Don's son-in-law, and he really admired the ideas behind Mason, so much so that only two years before he had started his own transportation service business. Don knew then what struggles Sidney would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Mason was struggling then the little guys, like Sidney, were going to be in even more trouble.

 

But, an antidote may have been found in freight factoring and Don was soon 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, Don found himself beginning to dig his way out of the hole his delinquent account holders had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They used that time to refocus their efforts in being competitive in new territories. Don 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

"

The Future of a Trucking Company, and Factoring Theodore Hunt let the phone ring on his desk. His morning coffee cooled and his cigarette smoked away in the tray: Theodore is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Hunt Trucking Company had reached a turning point and he now had to make a decision as to whether he should sign up with a factoring company, and indeed if this would be a good or regrettable decision for his business.

 

More than forty years ago Theodore's father had started this business working as an owner-operator and eventually growing Hunt 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 Theodore'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 Theodore'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 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, Hunt 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. Theodore 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?� 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). 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.

 

Theodore believed a successful man is always thinking of his next step. How would he take Hunt 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.

 

He wondered about factoring - was this the answer for him? 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. 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. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Theodore 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. 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 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?

 

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

 

For Theodore it was quite a relief to be dealing with the factoring company. They were more personable than those loan managers at the bank. 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 Theodore 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 would not have any problems, nor would they think poorly of Hunt 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.

 

Theodore 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. With the capabilities of this new cash flow, Theodore could actually expand Hunt Trucking Company further across the country and perhaps even go international into Canada. 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.

 

"

 

 

 

 

 

 

 

Invoice Factoring Rates

 

Factoring Invoice Discounting

 

 

 

Watch Our Factoring Video For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� Adrian Austin 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 said.Adrian 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 Hugh. He named his business Boyd Trucking, named after Thomas and Alfred, his two grandfathers. They had both been hardworking men, and had done a lot to make Adrian the same.Six months ago disaster struck Hugh's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. The financial security of Hugh's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Adrian 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. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Adrian 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.That�s where the woman across the desk came in. Her name was Michele and she worked for a factoring company. He had accidentally come across her company one night when he was working late, searching the internet to see if there was some solution to his financial dilemma.Michele explained. �It�s not a loan, we purchase your accounts receivable. we are not giving you finance to be repaid later: we are purchasing something from you, and when you can you can buy it back. That way we�re protected from a complete loss, but you�re protected from the outrageous fees you would find in a loan from the bank.Adrian nodded. It sounded good to him, almost too good.Michele laughed. �I'm not sure that you believe me,� she chuckled.�Oh no, I do: it just sounds too good to be true. I thought I was going to lose my company.�Michele nodded. �We get that a lot. 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. We all need help sometimes. That's why we do what we do.""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,� Michele said with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Adrian filled the form out, with Michele available to help him if he needed it. The completed profile gave Michele and her company all the information they needed on Hugh's business, and with this information they would determine if this business would in fact be suitable for Factoring. In truth, not all companies were. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. As Adrian completed his form, Michele listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Michele took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Hugh�s hand. He stood before they shook as well, and then smiled. They said their goodbyes and Adrian walked her to the door, and then returned to his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He leaned back and closed his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. But now, after speaking to Michele and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.All those long, sleepless nights. The sudden panic attacks, not matter where he was. 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 really successful. Offering home cooking in his own hometown, his business had really prospered.But it wasn't what he really wanted to do. His passion didn�t lie with the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took six months off, and during that time he decided to create Boyd 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.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was nearing fifty. He was concerned that he just did not have the energy left to try and save the business. But giving up wasn't part of his personality either.

 

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. Hugh's eyes opened, he sat forward in his chair and turned on his computer. He had lots to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

The reason why Trucking Agencies Utilize Factoring Companies.

 

As the operator of your own company, you may be more than wary already of the challenge in making certain that cash flow matters do not become a dilemma down the line. Anyway, the most horrible thing that can quite possibly transpire for your enterprise is to find yourself swept up in a long and tough situation that leaves you forever searching for the resources you require on an continuing basis.

 

For pretty much any company in this position, the trouble can come for waiting for work to clear up and actually be paid into your balance. Statements, checks, and the like can take a while to actually to beprocessed which can certainly leave you with short-term capital difficulties. The good news is, there are alternatives out there for enterprises to look into-- and among these is factoring providers.

 

Factoring providers will, in exchange for your statements, supply you with the resources right away to ensure that you do not have to fret about the delaying time span which could make paying the bills and purchasing toolsmore hard. With this type of system, invoice factoring can become extremely useful for lots of firms who need to avoid a cash pitfall which they have found themselves in.

 

Due to the fact that, basing on the volume of the work, it can take up to 60 days for several companies to get paid then it is significant to cover your own back and certainly not leave yourself cash short to settle the costs. After all, how many businesses have two months income just occupying there to deal with all their spendings till they get paid?

 

This is specifically correct of truck establishments. They often tend to manage numbers of statements which means a serious volume of collection period entails business owner themselves. Seeking to get paid in time can eventually become an unbelievable hassle and this is the key reasons why you make use of truck factoring companies who are delighted to help out truckers primarily.

 

As most of us understand, trucking is an amazingly big field with plenty of organizations out there working with hundreds of operators. Sadly, plenty of these drivers land up in finances predicaments because they are still waiting for work from six weeks back to actually compensate them. When this is the situation for a truck organization, turning to factoring firms for reinforcement might be the most ideal alternative left.

 

This signifies that a truck business can compensate the salaries of the staff, keep all the vehicles refilled with fuel and continue to go up, rise and expand without constantly waiting for the funds which is taking too lengthy to come in. Trucking Enterprises functioning without a factoring program used are leaving themselves at considerable hazard, as competitors cash out rapidly and carry on to expand.

 

There's absolutely nothing at all to be worried about when it comes to utilizing a Factoring establishment-- they typically are not like a financial institution or a person who is going to leave you with a considerable heap of financial debt to pay back. You give them legitimate invoices from output you have already accomplished , you are just speeding the payment process.

 

In the United states of America, where trucking firms develop, factoring enterprises are not considered borrowing in any capacity. This private arrangement then allows both parties to make money and indulge in a good future-- it provides the factoring company a warranted asset of profit to add to the list and it furnishes the trucking business the needed finances that they sweated to earn.

 

The trucking establishment bestows their statements to the factoring enterprise. The trucking factoring company then receive the payment amounts from the trucking company's clients. Factoring has beenaround for hundreds of years and has been utilized for decades by plenty of varied business sectors-- but none much more so than truckers. While you might lose out on a small part of the money, something like 1-3 % depending upon who you work with, it means that you are obtaining the finances today and can actually begin putting the money to function.

 

Anyway, an IOU or an invoice is certainly not going to finance spendings, is it? For trucking establishments when the cash can be very good one day and gone the next, it is up to the vehicle drivers to work smartly and to ensure they are leaving themselves with a substantial volume of time and money to get through the week till they are paid again.

 

So the next occasion your trucking establishment is enduring some temporary capital problems and you are devoting a bit too much time chasing inactive paying clienteles, why not start taking into consideration utilizing a factoring businesses as a manner to get your money and give yourself a more worry-free future in the eyes of your trucking workers and your bank balance?

 

 

 

 

 

 

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Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. While these loans are handy they are not available to every business. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Once the loan is paid off, you can then apply for another loan if the need arises.

 

Trucking Factoring Companies

 

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

 

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

 

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 do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. No Collateral Required. Another great benefit of using the services of a Trucking Factoring company instead of a bank loan is that there is no collateral required for the Trucking Factoring company, because the Trucking Factoring company is buying your accounts receivables. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This means that it is easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.

 

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

 

4.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, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. 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.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.

 

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