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Business Owners! Want Quick Curls? - Our Freight Factoring Company Can Provide
Your Freight Company The Money You Want

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Trucking Factoring is advantageous for a number of reasons. It enables a trucking business to raise cash without obtaining brand-new debt. While debt is in some cases essential, a lot of freight brokerage would choose to raise money without borrowing cash. Financial obligation is high-risk, and when it cannot be repaid, possessions can be repossessed. If the financial obligation is large enough, it could even force a truck businesses out of business.

 

 

 

 

 

 

 

My Company has 9 New Products - Imagine - Pick A Freight Bill�Factoring Company  Instead Of A Traditional Bank Financing

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

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

Money flow does not have to be an issue any ever more. Do not be fooled -- banks are not the only locations you can get financing. Other options are available and you do not have to borrow money. Exactly what is trucking factoring ? One option is called trucking factoring. Truck Factoring is the procedure of selling invoices to an investor rather than waiting to collect the cash from the client. Oh, the Irony- Truck factoring has a paradoxical difference: It is the financial foundation of many of America's most successful businesses. Why is this paradoxical ? Since truck factoring is not instructed in business colleges, is rarely mentioned in business strategies and is fairly unidentified to bulk of most of American company people.

Yet it is a monetary process that releases up billions of dollars every year, enabling thousands of businesses to grow and prosper. FACTORING has actually been around for thousands of years. Factoring Businesses 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 financial obligation your client has actually to pay in the near future. Factoring Principals--Although factoring deals solely with business-to-business deals, a big percentage of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a type of factoring in their retail deals. Using the purest definition of the word, these big customer finance companies are really just big Invoice Factoring Companies of consumer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The store makes money practically instantly, even though you do not make payment up until you are ready.

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 Benefits Receivable Loan Funding can offer numerous benefits to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on a product that has actually already been delivered, a company 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  cash.

Factoring offers the means for a manufacturer to renew inventory and make even more products to offer: 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 producers: Almost any kind business can benefit from Receivable Loan Funding. Typically, a company that extends credit will have 10 to 20 percent of its yearly sales bound in accounts receivable at any given time. Think for a moment 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 customer s invoice, but you can sell that invoice for the cash to satisfy those obligations. Using truck factoring companies is a fast and simple process. The factoring company purchases the invoice at a discount, usually a few portion points less than the face value of the invoice.

 

 

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The United states Trucking Association
specifies that there around
200,000 workers with freight trucking
businesses and
276,000 personal companies trucking
firms licensed to
operate in the States that transported,
according to their newest searchings for billions of
products, supplies and
standard products .
There are a number of typical
carriers either going solo or in
groups on our nation
highways transferring these
important items to our
shops, factories and shipping ports.

Furthermore freight invoice factoring
firms support
many of them and offer their
accounts receivablesfinancing services
nationwidecounting
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

 

Baltimore is the largest city in the U.S. state of Maryland and the 26th-most populous city in the country. It is located in the central area of the state along the tidal portion of the Patapsco River, an arm of the Chesapeake Bay. The independent city is often referred to as Baltimore City to distinguish it from surrounding Baltimore County. Founded in 1729, Baltimore is the second largest seaport in the Mid-Atlantic United States and is situated closer to Midwestern markets than any other major seaport on the East Coast. Baltimore's Inner Harbor was once the second leading port of entry for immigrants to the United States and a major manufacturing center. After a decline in major manufacturing, industrialization and rail transportation, Baltimore shifted to a service-oriented economy, with the Johns Hopkins Hospital (founded 1889), and Johns Hopkins University (founded 1876), now serving as the city's top two employers.With a population of 621,342 as of July 1, 2012, Baltimore increased by 1,100 residents over the previous year, ending over six decades of population loss since its peak in 1950. The Baltimore Metropolitan Area has grown steadily to approximately 2.7 million residents in 2010; the 20th largest in the country. Baltimore is also a principal city in the larger Baltimore�Washington metropolitan area of approximately 8.4 million residentsOnce a predominantly industrial town, with an economic base focused on steel processing, shipping, auto manufacturing, and transportation, the city experienced deindustrialization which cost residents tens of thousands of low-skill, high-wage jobs. The city now relies on a low-wage service economy, which accounts for 90% of jobs in the city.Around the turn of the century, Baltimore was the leading US manufacturer of rye whiskey and straw hats. It also led in refining of crude oil, brought to the city by pipeline from Pennsylvania.Baltimore's unemployment rate in July 2012 was 11%, and the 2012 closure of a major steel plant at Sparrows Point is expected to have a further impact on employment and the local economy. One quarter of Baltimore residents (and 37% of Baltimore children) live in poverty.The city is home to the Hospital.

 

 

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

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

 

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

 

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.

 

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

 

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.

 

 

"

Webb 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 boom times from 2002 to 2007 Webb Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. 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

 

. Worse still, it was noticed by Webb in early 2008 that even though most of their loyal customers were on time with their payments, there were a few late bloomers who were starting to spread the disease. And as spring turmed to summer and summer into the early days of fall, Alfred Jensen, CEO of Webb felt a chill go down his spine whenever he would look at the weekly A/R reports. The number of clients who were late in their payments was continuing to grow.He had already been to the administrators to ask what the actual problem was. Were they doing things different, or wrong, when it came to collecting overdue 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. 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. They had just gone home.The situation looked dire to Alfred Jensen. Alfred was very concerned, because there were constant overheads, goods to ship, employees to pay, and trucks which needed to be maintained, but there just wasn't the money coming back into the business. At night he would speak to his wife Ethel and shake his head in frustration.

 

""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would ask.Alfred 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 then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What on earth was happening to create the death of his business?""I know what it is,"" said Alfred. ""I've relied too long on the profits I receive from invoices alone. For too long I've been allowing our clients to let their accounts become overdue."" Ethel would look at her husband lovingly, and holding his hand would say 'it is such a harsh economy these days and our clients must be having difficulty meeting their responsibilities'.""Alfred knew very well that Ethel was only trying to help, but his responsibilities weighed heavily on his shoulders and he knew he had better do something soon to resolve this situation.The following day Alfred walked into his office with a spring in his step, determined to call each and every client who owed money to Webb Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Alfred 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, Alfred 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 Vanessaerley knocked at his door.

 

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

 

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

 

So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Alfred interrupted ""Immediately?"".""Immediately, yes"" she added, ""it is actually very simple. 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�s a broad view.""I see,� Alfred 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. We come to an agreement and the funding starts pouring out.�Leaning forward, Alfred studied the documents very closely.""It sounds too good to be true, Vanessa,"" he said.""Now, now, I know, I thought the same thing. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. And they're flexible Alfred,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" asked Alfred.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. It only takes 2 to 4 days for this to be figured out. ""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,"" said Alfred.Alfred took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Precisely�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Alfred thought about this and agreed with Vanessaerley. The clients who owed them money were long standing friends and professional resources of Webb. They did not want to throw away these relationships because they were having trouble paying their bills now. Alfred knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. That unknown amount of time could create a disaster situation for both of them if he wasn't careful in how these debtors were handled. 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 Vanessa, thank you."" Vanessa nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Alfred sat behind his desk and looked over the details Vanessa had not mentioned in their meeting. What other issues could freight factoring help Webb with? Running his pencil down the sheet, he noted that the freight factoring company could assist with fuel costs, fuel advances, and fuel discount cards. In fact, Webb could receive up to fifty-percent cash advances upon load pick-ups. Alfred was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""Well, I'll have to tell Jose about this,"" Alfred muttered to himself.Jose is Alfred's son-in-law, and he really admired the ideas behind Webb, so much so that only two years before he had started his own transportation service business. At that time Alfred knew the struggles Jose would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Webb was struggling then the little guys, like Jose, were going to be in even more trouble.

 

But, an antidote may have been found in freight factoring and Alfred was soon to find out.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Alfred was beginning to find his way out of the hole his debtors had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They took that time and refocused effort to offering competitive prices in new territories. Alfred looked back on the dismal months of life before freight factoring and almost shuddered at the thought. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

Baltimore is the largest city in the U.S. state of Maryland and the 26th-most populous city in the country. It is located in the central area of the state along the tidal portion of the Patapsco River, an arm of the Chesapeake Bay. The independent city is often referred to as Baltimore City to distinguish it from surrounding Baltimore County. Founded in 1729, Baltimore is the second largest seaport in the Mid-Atlantic United States and is situated closer to Midwestern markets than any other major seaport on the East Coast. Baltimore's Inner Harbor was once the second leading port of entry for immigrants to the United States and a major manufacturing center. After a decline in major manufacturing, industrialization and rail transportation, Baltimore shifted to a service-oriented economy, with the Johns Hopkins Hospital (founded 1889), and Johns Hopkins University (founded 1876), now serving as the city's top two employers.With a population of 621,342 as of July 1, 2012, Baltimore increased by 1,100 residents over the previous year, ending over six decades of population loss since its peak in 1950. The Baltimore Metropolitan Area has grown steadily to approximately 2.7 million residents in 2010; the 20th largest in the country. Baltimore is also a principal city in the larger Baltimore�Washington metropolitan area of approximately 8.4 million residentsOnce a predominantly industrial town, with an economic base focused on steel processing, shipping, auto manufacturing, and transportation, the city experienced deindustrialization which cost residents tens of thousands of low-skill, high-wage jobs. The city now relies on a low-wage service economy, which accounts for 90% of jobs in the city.Around the turn of the century, Baltimore was the leading US manufacturer of rye whiskey and straw hats. It also led in refining of crude oil, brought to the city by pipeline from Pennsylvania.Baltimore's unemployment rate in July 2012 was 11%, and the 2012 closure of a major steel plant at Sparrows Point is expected to have a further impact on employment and the local economy. One quarter of Baltimore residents (and 37% of Baltimore children) live in poverty.The city is home to the Hospital.

 

 

More Trucking Factoring Companies Story Articles

Factoring in the Future of a Trucking Business: A Story Anthony Rodriguez let the phone ring on his desk. He let his morning coffee cool and left his cigarette to ash itself in the tray, because he is trying to make the biggest decision ever for his trucking company. Rodriguez Trucking Company was at a turning point of growth and Anthony had to decide if signing with a factoring company was the right way forward.

 

More than forty years ago Anthony's father had started this business working as an owner-operator and eventually growing Rodriguez 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 Anthony's mother had jumped into the cab at times to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. Now the company was solely in Anthony�s hands and he wanted to live to see it in better shape for his sons.

 

There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. His employees needed to be paid. They had families and household bills too. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. He knew that turning down these requests made Rodriguez Trucking look inefficient and weak in what was currently a strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Anthony 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). 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.

 

Anthony believed a successful man is always thinking of his next step. How would he take Rodriguez Trucking to the next level? More importantly, how could he afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

He wondered about factoring - was this the answer for him? If he was being honest, he did not really understand how it all worked. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Now it was time for Anthony to do his homework. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

But it turned out to be quite easy. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He didn�t mind signing an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It sounded like a great scheme to him.

 

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. Factoring was based on the credit of his customers and on their reliability which worked well for Anthony because he and his father had built up good strong relationships over decades with their list of clients. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients wouldn�t think poorly of Rodriguez 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.

 

Anthony stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. He suddenly realized that, with this new cash flow, he could actually expand Rodriguez Trucking Company and who knows, move into Canada, which had always been his dream. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

 

 

 

 

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Trucking Factoring  Articles

"

�So, this is not a loan?� asked Franklin Kennedy, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she said.Franklin Kennedy 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 Joel. His company was called Berry Trucking, named after both of his grandfathers, Roy and Christian. Both of these men had been very hardworking and had set a great example for Joel.Six months ago disaster struck Joel'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 Joel'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 Franklin had on hand.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

Waiting a month or longer for bills to be paid was quite normal. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Franklin was an excellent business man, and he certainly hadn't done anything wrong. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.And that's why he found himself across the desk from this woman. Franklin knew she was employed by a Factoring company and that her name was Laurie. 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.She sat there now, and 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.Franklin agreed. It sounded perfect - perhaps too good?.Laurie 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.�Laurie 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 why we do what we do.""In any case, thank you for coming to see me.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� Laurie said with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Franklin completed the form, with Laurie offering advice as needed.

 

The completed profile gave Laurie and her company all the information they needed on Joel'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 businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. Listening as Franklin filled out his form, Laurie was pretty sure he was a perfect candidate for factoring.Laurie took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Joel's hand. He stood before they shook as well, and then smiled. They said their goodbyes and Franklin walked her to the door, and then returned to his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He shut his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. Talking to Laurie though, learning about factoring, it felt like a weight had been lifted from his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.The long nights, where he couldn�t sleep. The terrifying panic attacks that occurred regardless of where he was. He could feel it all fading away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was there, he was on the right path, and he was working to make things right.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. Home cooking in his hometown, and he had done very well.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 half a year off, and in that time he thought to start Berry Trucking. And that's exactly what he did. Once again he built 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 about to turn fifty. He didn�t think he had it in him, to save this company. But he couldn�t give up. The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He didn�t know how to say quit.And now it seemed as though he would not have to - all because of Factoring. Joel's eyes opened, he sat forward in his chair and turned on his computer. He had lots to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

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More Trucking Factoring Company Story Articles

The key reasons why Trucking Corporations Make use of Factoring Firms.

 

As the operator of your own business enterprise, you may well be much more than perceptive already of the difficulty in making sure that capital matters do not become a predicament down the line. Anyway, the toughest thing that can quite possibly come about for your business is to find yourself involved in a long and tough predicament that leaves you forever looking for the finances you need to have on an recurring basis.

 

For any kind of firm in this instance, the dilemma can come for waiting for work to lapse and actually be brought in into your statement. Invoices, checks, and the like can take some time to actually to beprocessed which can leave you with temporary available resources problems. Thankfully, there are solutions out there for businesses to look into-- and just one of these is factoring firms.

 

Factoring companies will, in substitution for your invoices, offer you with the funds right now in order that you do not have to worry about the lingering period that could make paying off the bills and getting toolsmore challenging. With this form of setup, invoice factoring can end up being remarkably beneficial for numerous companies who have to avoid a money trap which they have gotten themselves in.

 

For the reason that, relying on the volume of the job, it can take up to 60 days for many business enterprises to get paid out then it is very important to take care of your own back and definitely not leave yourself cash short to pay the bills. After all, how many establishments have two months earnings just occupying there to address all their expenses until they make money?

 

This is especially true of trucking firms. They usually deal with bunches of invoices which means a notable amount of collection time involves business owner themselves. Seeking to get paid off in time can eventually become an extraordinary struggle and this is the reason why you use truck factoring agencies who are thrilled to help out truckers primarily.

 

As most of us understand, trucking is an unbelievably huge market with plenty of companies out there employing hundreds of drivers. Sadly, several of these drivers wind up in finances difficulties simply because they are still waiting on work from six weeks earlier to actually pay them. When this is the situation for a truck agency, depending on factoring firms for reinforcement could be the very best alternative left.

 

This means that a trucking organization can compensate the paychecks of the personnel, keep all the cars refilled with gas and continue to surmount, grow and expand without continually waiting for the income which is taking too long to come in. Trucking Establishments operating without a factoring system put in place are leaving themselves at notable threat, as competitions cash out rapidly and proceed to expand.

 

There's genuinely not much to be stressed about when it comes to utilizing a Factoring contractor-- they commonly are not like a banking company or somebody who is going to leave you with a large stockpile of debt to pay back. You give them legitimate invoices from output you have already completed , you are simply speeding up the repayment system.

 

In the United States, where trucking firms prosper, factoring enterprises are not considered borrowing in any capacity. This confidential agreement then makes it possible for both parties to make money and delight in a good future-- it provides the factoring provider a guaranteed resource of money to put into the list and it provides the trucking firm the required money that they sweated to earn.

 

The trucking enterprise presents their invoices to the factoring company. The trucking factoring agency then collect the installment payments from the trucking company's customers. Factoring has been in existence for hundreds of years and has been used for long times by many various markets-- but none exceeding so than truckers. While you could miss out on a small part of the money, something like 1-3 % depending upon who you collaborate with, it indicates that you are receiving the money today and can actually start setting the resources to perform.

 

Anyway, an IOU or an invoice is definitely not going to finance overheads, is it? For trucking enterprises when the income can be excellent one day and gone the next, it is up to the drivers to work smartly and to make sure that they are leaving themselves with a significant measure of time and finance to get through the week until they are handed over once again.

 

So the next moment your trucking enterprise is having some short-term cash flow challenges and you are devoting way too much time chasing sluggish paying customers, why not begin looking into using a factoring companies as a means to get your money and give yourself a more pleasant future in the eyes of your trucking staff and your bank dividend?

 

 

 

 

 

 

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

 

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

 

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

 

1. 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. No Collateral Required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This 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. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.Interest is Paid Up Front. With a bank loan interest continues to build, and this has to be paid the whole time you have a business loan; however with a Trucking Factoring company there is no interest - they take it right off the top by deducting it from the total amount of receivable accounts. So you do not have to worry about monthly loan repayments, and you do not have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

As you can see 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 most important benefits is that once you sell your accounts receivable to the factory company, you do not have to take time away from running your business to collect the money owed from reluctant to pay 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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