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How To Get Financing Without a Lawyer for Under One Dollar - Our Trucking Factoring Company Can Give
Your Freight Company The Cash Your Company Needs

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Small freight brokerage companies, particularly those who have not been around for very long, will frequently discover it hard to secure a loan. Banks are typically hesitant to provide money to businesses that do not have a great deal of income and properties. They likewise want proof of the viability of a company and hence require that the majority of operations, particularly little ones, been around for a particular amount of time prior to they are ready to hand over any money. Due to the fact that of this, a medium-size company frequently has a couple of cash generating options when needs arise. One option offered, however frequently ignored, is receivable Financing. This is an exceptional way for a small business to obtain cash.

 

 

 

 

 

 

 

New Factoring Program Leaves Your Company Rolling in Profits - Choose An Accounts Receivable Factoring Company Instead Of A Traditional Bank Funding

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

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

Cash flow does not have to be a problem any more. Do not be fooled -- banks are not the only places you can get funding. Other solutions are available and you do not have to borrow. What is trucking factoring ? One option is called truck factoring. Trucking Factoring is the procedure of selling accounts receivable to a financier rather than waiting to collect the cash from the client. Oh, the Irony- Trucking factoring has an ironic difference: It is the financial backbone of numerous of America's most effective companies. Why is this paradoxical ? Because trucking factoring is not taught in business colleges, is rarely mentioned in company plans and is fairly unknown to the majority of most of American business individuals.

Yet it is a monetary process that releases up billions of dollars every year, enabling thousands of companies to grow and prosper. Receivable Loan Funding has been around for countless years. Commercial Factoring Companies are financiers who pay money for the right to receive the future payments on your invoices. An overdue receivable or invoice has value. It is a financial obligation your customer has agreed pay in the near future. Factoring Principals--Although factoring deals solely with business-to-business transactions, a big portion of the retail business uses a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail deals. Using the purest definition of the word, these large consumer finance business are truly simply big Receivable Loan Funding Businesses of customer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The shop gets paid almost immediately, although you do not make payment until you are ready.

For this service, the credit card business charges Sears a charge (typical common normal fees range from two to four percent of the sale). The Advantages Commercial Factoring can provide many advantages to cash-hungry business. Instead of waiting 30, 60, 90 days or longer for payment on an item that has actually already been delivered, a company can factor (sell) its receivables for cash at a small discount off the dollar value of the invoice. Payroll, advertising efforts, and working capital are just a few of the business requirements that can be met with instant  money.

Invoice Factoring offers the means for a manufacturer to replenish stock and make even more products to sell: There is no longer a need to await for earlier sales to be paid. Receivable Loan Financing is not just a cash management tool for manufacturers: Almost any type company can take advantage of Truck Factoring. Typically, a business that extends credit will have 10 to 20 percent of its annual sales bound in accounts receivable at any given time. Think for a minute about how much is tied up in 60 days' worth of invoices: You can not pay the power expense or today s payroll with a customer s invoice, however you can offer that invoice for the money to satisfy those responsibilities. Using trucking factoring companies is a fast and simple procedure. The factoring company buys the invoice at a price cut, usually a couple of portion points less than the face value of the invoice.

 

 

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The U.s. Trucking Organization
states that there around
200,000 workers with transportation
companies and
276,000 private service providers trucking
firms licensed to
run in the U.S. that transported,
according to their newest data of millions
items, materials and
basic products .
There are several typical
providers either going solo or in
teams on our nation
roadways transferring these
vital items to our
stores, manufacturingplants and ports.

Furthermore freight invoice factoring
companies benefit
numerous of them and offer their
receivable loan facilities
nationallyincluding
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

 

El Paso has a diversified economy focused primarily within international trade, military, government civil service, oil and gas, health care, tourism and service sectors. The El Paso metro area had a GDP of $29 billion in 2011. There were also $92 billion worth of trade in 2012. Over the past 15 years the city has become a significant location for American-based call centers. Cotton, fruit, vegetables, and livestock are also produced in the area. El Paso has added a significant manufacturing sector with items and goods produced that include petroleum, metals, medical devices, plastics, machinery, defense-related goods and automotive parts. The city is the second busiest international crossing point in the U.S behind San Diego. El Paso is home to one Fortune 500 company in Western Refining, which is listed on the New York Stock Exchange. This makes the city one of six Texas metro areas to have at least one Fortune 500 company call it home; the others being Houston, Dallas-Fort Worth, San Antonio, Austin and Corpus Christi. The city has three other publicly traded companies in , a NASDAQ-listed company that manufactures personal health care products under many labels, such as among others. The third publicly traded company is listed on the New York Stock Exchange, a public utility engaging in the generation, transmission, and distribution of electricity in west Texas and southern New Mexico. The fourth publicly traded company is also traded in the . It is a subsidiary which owns, operates, develops, and acquires terminals, storage tanks, pipelines, and other logistics assets.Largest Employers in El Paso, Inc. More than 70 Fortune 500 companies have offices in El Paso, Hispanic Business Magazine included 28 El Paso companies in its recently released list of the 500 largest Hispanic owned businesses in the United States. El Paso's 28 companies are second only to Miami's 57. The list of largest Hispanic owned businesses include companies like .The city also has a large military presence with Fort Bliss, William Beaumont Army Medical Center and Biggs Army Airfield. The defense industry in El Paso employs over 37,000 and provides a $6 billion annual impact to the city's economy. Fort Bliss was chosen as the newly configured U.S. Air Force Security Forces Regional Training Center which will bring 8,000 to 10,000 Air Force personnel annually. An M1 Abrams tank crew on Fort Bliss� Do�a Ana RangeIn addition to the military, the federal government has a strong presence in El Paso to manage its status and unique issues as an important border region. Operations headquartered in El Paso include the DEA domestic field division 7, El Paso Intelligence Center, Joint Task Force North, U.S. Border Patrol El Paso Sector and U.S. Border Patrol Special Operations Group (SOG).Call center operations make up seven of the top 10 business employers in El Paso. With no signs of growth slowing in this industry, in 2005, the 14 largest call centers in El Paso employed more than 10,000 people. More recently, has opened a business solutions center in West El Paso, employing about 1,100 people with expansion plans to reach 1,700 by 2017.Tourism is another major industry in El Paso, bringing in $1.5 billion-a-year and over 2.3 million visitors annually due to the city's sunny weather, natural beauty, rich cultural history and many outdoor attractions.Education is also a driving force in El Paso's economy. El Paso's three large school districts are among the largest employers in the area, employing more than 20,000 people among them. UTEP has an annual budget of nearly $418 million and employs nearly 4,800 people. A 2010 study by the university's Institute for Policy and Economic Development stated the University's impact on local businesses is $417 million annually

 

 

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

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

 

Searching for the right trucking companies to move your freight can be tough, with the large amount of local, regional, and national truck carriers out there. 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

 

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

 

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

 

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

 

 

"

Gomez Truck & Haul have been operating their business since the mid 1980s. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the heady times from 2002 to 2007, Gomez 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. Cash was flowing and times were good for all.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed down. And worse yet, Gomez 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 Gomez, Chad Peterson, 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 gone to his administrators and asked them what the problem had been. Were they doing something wrong or different when it came to reaching out to delinquent accounts? By his bookkeepers records, this wasn't the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Gomez money had jumped ship and decided to leave him holding the bag.

 

. 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!.To Chad Peterson the situation looked desperate. 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, Josephine, and still find no relief from the worry and frustration.

 

""I have a bad feeling, Lin,"" he would say with deep woe.""Well, what do you think it is?"" she would say.Chad would stare off for a moment and then close eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them on the road, delivering good to all his loyal customers. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. Why couldn�t he work out how to resolve this financial problem with his business?""I think I know what it could be,"" said Chad. ""For way too long I've been relying solely on profits received from invoices. For too long I've been allowing our clients to let their accounts become overdue."" Linda could only grab her husband's hand and look at him lovingly, ""it is a hard economy. It might be awhile until things get settled up.

 

""Chad 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 Chad strolled into his office and was determined to sit down and make every phone call to every client who had owed Gomez money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Chad 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, Chad 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 Velmaerley knocked at his door.

 

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

 

""Of course Velma, please come in."" Chad relaxed back into his chair and looked up at Velmaerley.""Well Chad, 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 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.""Chad interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""it is actually very simple. We can have an expert account manager review our numbers and help us complete a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It provides a very broad view.""I see,� Chad 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. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

The company will advise us the cost to purchase factoring for our company's accounts receivable. The funding commences once we�ve arrived at an agreement.�Chad leaned forward and reviewed the paperwork closely.""I do not know, Velma - it just sounds too good to be true"", Chad said quietly.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Chad: 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 Chad,"" she drew a circle around a paragraph on the document before him.""How flexible?"" asked Chad.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. It only takes 2 to 4 days for this to be figured out. ""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" said Chad.Chad 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.""Chad thought about this and agreed with Velmaerley. The clients who owed them money were long standing friends and professional resources of Gomez. Chad wasn't prepared to lose these relationships just because they were having financial issues at the moment. Chad knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. Of course he did not want to lose any more money, but he did not want to lose business either.""Let me go over this tonight Velma, and thankyou."" Velma nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Chad sat behind his desk and looked over the details Velma had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Gomez Truck & Haul with? Running his pencil down the sheet, he noted that the freight factoring company could assist with fuel costs, fuel advances, and fuel discount cards. Chad 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 Jerry about this,"" muttered Chad to himself.His son-in-law Jerry had liked the idea of Gomez so much and revered his father in law for having such business acumen that only two years before, he had gathered the venture capital to begin his own transportation service company. At that time Chad knew the struggles Jerry would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Gomez was hurting, a little guy like Jerry was about to catch his death. But, an antidote may have been found in freight factoring and Chad was soon to find out.Some months later, having successfully gone through the entire process of the application, having experts study his credit history and statements and review his accounts receivable, Chad found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They took that time and refocused effort to offering competitive prices in new territories. Chad recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. If Chad hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

El Paso has a diversified economy focused primarily within international trade, military, government civil service, oil and gas, health care, tourism and service sectors. The El Paso metro area had a GDP of $29 billion in 2011. There were also $92 billion worth of trade in 2012. Over the past 15 years the city has become a significant location for American-based call centers. Cotton, fruit, vegetables, and livestock are also produced in the area. El Paso has added a significant manufacturing sector with items and goods produced that include petroleum, metals, medical devices, plastics, machinery, defense-related goods and automotive parts. The city is the second busiest international crossing point in the U.S behind San Diego. El Paso is home to one Fortune 500 company in Western Refining, which is listed on the New York Stock Exchange. This makes the city one of six Texas metro areas to have at least one Fortune 500 company call it home; the others being Houston, Dallas-Fort Worth, San Antonio, Austin and Corpus Christi. The city has three other publicly traded companies in , a NASDAQ-listed company that manufactures personal health care products under many labels, such as among others. The third publicly traded company is listed on the New York Stock Exchange, a public utility engaging in the generation, transmission, and distribution of electricity in west Texas and southern New Mexico. The fourth publicly traded company is also traded in the . It is a subsidiary which owns, operates, develops, and acquires terminals, storage tanks, pipelines, and other logistics assets.Largest Employers in El Paso, Inc. More than 70 Fortune 500 companies have offices in El Paso, Hispanic Business Magazine included 28 El Paso companies in its recently released list of the 500 largest Hispanic owned businesses in the United States. El Paso's 28 companies are second only to Miami's 57. The list of largest Hispanic owned businesses include companies like .The city also has a large military presence with Fort Bliss, William Beaumont Army Medical Center and Biggs Army Airfield. The defense industry in El Paso employs over 37,000 and provides a $6 billion annual impact to the city's economy. Fort Bliss was chosen as the newly configured U.S. Air Force Security Forces Regional Training Center which will bring 8,000 to 10,000 Air Force personnel annually. An M1 Abrams tank crew on Fort Bliss� Do�a Ana RangeIn addition to the military, the federal government has a strong presence in El Paso to manage its status and unique issues as an important border region. Operations headquartered in El Paso include the DEA domestic field division 7, El Paso Intelligence Center, Joint Task Force North, U.S. Border Patrol El Paso Sector and U.S. Border Patrol Special Operations Group (SOG).Call center operations make up seven of the top 10 business employers in El Paso. With no signs of growth slowing in this industry, in 2005, the 14 largest call centers in El Paso employed more than 10,000 people. More recently, has opened a business solutions center in West El Paso, employing about 1,100 people with expansion plans to reach 1,700 by 2017.Tourism is another major industry in El Paso, bringing in $1.5 billion-a-year and over 2.3 million visitors annually due to the city's sunny weather, natural beauty, rich cultural history and many outdoor attractions.Education is also a driving force in El Paso's economy. El Paso's three large school districts are among the largest employers in the area, employing more than 20,000 people among them. UTEP has an annual budget of nearly $418 million and employs nearly 4,800 people. A 2010 study by the university's Institute for Policy and Economic Development stated the University's impact on local businesses is $417 million annually

 

 

More Trucking Factoring Companies Story Articles

The Future of a Trucking Company, and Factoring The phone was ringing on his desk, and Samuel Bailey just sat there letting it ring. 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. Bailey 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.

 

Samuel�s father had started as an owner-operator and had grown Bailey Trucking Company into a fifteen trailer fleet over forty years. There had been some hard times when it seemed everything was going to go under and even Samuel�s mother strapped herself into a cab to make hauls. His father had worked long enough to see the price of hires drop dramatically during the recession and to see the explosion of fuel prices afterwards. Now the company was solely in Samuel�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 Bailey 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'. Samuel chuckled, thinking about his father. His father had been against placing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. His father days were long gone and technology was actually an important improvement for the business such as having Qualcomm to cut down on fruitless time communicating on the phone for bills of lading.

 

Samuel believed a successful man is always thinking of his next step. How would he take Bailey Trucking to the next level? And how would he be able to afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

But was factoring the answer? There was a lot he didn�t understand about the process. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. 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.

 

Now it was time for Samuel to do his homework. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

However, it all turned out to be very simple. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He was quite happy to sign an exclusive contract. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. Many companies offered a non-recourse factoring program that suited him just fine. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It was good money.

 

It was really refreshing dealing with the factoring people. They were extremely helpful and more personable than the bank staff. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar for a handout. The factoring companies 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 Samuel 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 would not have any problems, nor would they think poorly of Bailey 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.

 

Samuel stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. With the capabilities of this new cash flow, Samuel could actually expand Bailey 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.

 

 

 

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Trucking Factoring  Articles

"

�So, this is not a loan?� Ruben Young asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Ruben smiled at him, shaking her head.�No, not exactly,� she said.Ruben was the owner of a small trucking company which had fallen on some hard times recently. Trucking could be a profitable business, and for a little under a decade, it had been for Aaron. He named his business Franklin Trucking, named after Neil and Fernando, his two grandfathers. Both of these men had been very hardworking and had set a great example for Aaron.Disaster had struck half a year ago, when two trucks in Aaron�s fifteen truck fleet went down. One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. Ruben depended on his full fleet, and missing two trucks was devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.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.Ruben 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. Her name was Charlotte 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.Charlotte explained. �It�s not a loan, we purchase your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. This is a win-win situation: we are protected from a total loss, and you're protected from the ridiculous fees and charges you'd have to pay if you borrowed from a bank.Ruben nodded. It sounded good to him, almost too good.Charlotte laughed. �I'm not sure that you believe me,� she said.�No, I do, I just think it sounds a bit too good to be true. I actually thought I might end up losing my business.�Charlotte 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. Sometimes you need help. That�s what we�re here for.""In any case, thank you for coming to see me.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� Charlotte said with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Ruben completed the form, with Charlotte offering advice as needed.

 

The completed profile gave Charlotte and her company all the information they needed on Aaron'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 Ruben completed his form, Charlotte listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Charlotte took it and slid it into her briefcase. She then stood, reached across the desk and shook Aaron�s hand. He also stood up, and they smiled at each other. Ruben walked Charlotte to the door where they said 'Goodbye', then he went back into his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He shut his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. But now, after speaking to Charlotte 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 terrifying panic attacks that occurred regardless of where he was. Already he could feel all the stress start to drain 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 still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.His mind wandered back to the very beginning, when he first started his business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been successful. Offering home cooking in his own hometown, his business had really prospered.But it wasn't what he really wanted to do. He wasn't passionate about the food industry. He thought long and hard, and then he decided to sell the restaurant. He took six months off, and during that time he decided to create Franklin Trucking. So he did it. Once again he built a company from the ground up. The business had been an instant success.And then the trucks went down, and his success looked to be in flux. He was about to turn fifty. He was concerned that he just did not have the energy left to try and save the business. But he couldn�t give up. 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. Ruben opened his eyes, sat forward, turned his computer on. He had lots to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

Precisely why Trucking Establishments Utilize Factoring Firms.

 

As the manager of your own firm, you may be more than knowledgeable already of the hardship in making certain that capital issues do not become a predicament down the line. Anyway, the toughest thing that can in all probability transpire for your enterprise is to find yourself swept up in a long and difficult condition that leaves you forever trying to find the resources you need on an continual manner.

 

For virtually any business in this situation, the problem can come for waiting for work to lapse and actually be repaid into your account. Bill of sales, checks, and the like can take a while to actually to beprocessed which may leave you with short-term capital issues. Fortunately, there are approaches out there for firms to delve into-- and among these is factoring providers.

 

Factoring agencies will, in substitution for your bill of sales, offer you with the funds right away so that you do not have to worry about the lingering duration which could make paying the expenses and acquiring materialsmore difficult. With this style of system, invoice factoring can end up being extraordinarily useful for various firms who need to avoid a money pitfall which they have gotten themselves in.

 

Considering that, relying on the size of the job, it can take up to 60 days for several establishments to get compensated then it is necessary to take care of your own back and definitely not leave yourself funds short to settle the expenses. After all, how many establishments possess two months earnings just lying there to handle all their expenses till they earn?

 

This is most notably correct of truck companies. They often tend to manage bunches of statements which means a huge volume of collection time involves company owner themselves. Seeking to get paid out promptly can eventually become an amazing inconvenience and this is the key reasons why you use truck factoring companies who are pleased to help out truckers mainly.

 

As we all understand, trucking is an extremely huge market with countless firms out there utilizing hundreds of operators. Regretfully, plenty of these drivers end up in money dilemmas due to the fact that they are still waiting for work from six weeks ago to actually compensate them. When this is the circumstance for a trucking firm, choosing factoring agencies for solutions might be the ideal option left.

 

This implies that a truck firm can provide the wages of the staff, keep all the cars filled with gas and continue to scale, progress and expand without consistently waiting for the cash which is taking too prolonged to come in. Trucking Businesses working without a factoring program used are leaving themselves at considerable hazard, as competitions cash out quickly and carry on to broaden.

 

There's honestly almost nothing to be stressed about when it comes to employing a Factoring company-- they commonly are not like a bank or a person who is going to leave you with a significant heap of financial debt to pay back. You give them authentic invoices from output you have already wrapped up , you are simply facilitating the payment system.

 

In the Usa, where trucking firms grow, factoring providers are not considered getting a loan in any capacity. This private settlement then permits both parties to benefit and indulge in a convenient future-- it provides the factoring provider a guaranteed resource of income to put into the list and it offers the trucking company the required cash that they sweated to earn.

 

The trucking establishment gives their invoices to the factoring company. The trucking factoring company then collect the payments from the trucking company's clients. Factoring has been all around for hundreds of years and has been utilized for many years by many varied business-- but none more so than truckers. While you could lose out on a small part of the money, something like 1-3 % depending on who you collaborate with, it implies that you are obtaining the finances today and can actually start off putting the cash to perform.

 

Once and for all, an IOU or an invoice is absolutely not going to fund overheads, is it? For trucking agencies when the cash can be very good one day and gone the next, it is up to the drivers to work sensibly and to make certain they are leaving themselves with a notable amount of time and money to get through the week up until they are compensated once more.

 

So the next occasion your trucking establishment is having some temporary cash flow issues and you are shelling out excessive time chasing slow paying clienteles, why not start thinking of utilizing a factoring companies as a method to get your cash and give yourself a more worry-free future in the eyes of your trucking team and your bank balance?

 

 

 

 

 

 

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Traditional 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. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. 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.

 

What Are 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. 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.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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

 

1. There is no debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. 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. 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. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

2. There's no collateral required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you 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 makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

3. Receive Your Money Faster. Using a Trucking Factoring company means that you'll get the finance quicker. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. 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. 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 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, 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. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very efficient at debt collecting, and this frees up your valuable time to devote to running your company.

 

Another bonus is that, because the Trucking Factoring company has evaluated the quality of your customers' credit before buying the accounts receivable, you learn valuable information regarding your customers, like which ones are likely to pay, and which ones are less likely to pay.A Trucking Factoring company is not the only method of gaining access to finance for the running and growing of your business, however it does offer a financing option well worth considering.

 

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Factoring Companies by City

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