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For The Business Who Wants To Look Better - Our Invoice Factoring Company Can Give
Your Trucking Company The Cash Your Company Needs

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Medium-Size freight businesses, specifically those who have not been around for extremely long, will frequently find it challenging to secure a loan. Banks are often reluctant to provide money to companies that do not have a lot of income and assets. They likewise want evidence of the viability of a business and hence need that the majority of operations, especially little ones, been around for a certain amount of time before they are eager to hand over any cash. Because of this, a medium-size business typically has few money producing options when needs occur. One alternative available, however frequently overlooked, is factoring. This is an outstanding method for a small business to acquire cash.

 

 

 

 

 

 

 

The Company Who Won the Prize For - Choose A Freight�Brokerage Factoring Company  Instead Of A Traditional Bank Funding

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

At one time or another, every company, even effective ones, have actually experienced bad 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 offered and you do not have to borrow money. What is trucking factoring ? One solution is called trucking factoring. Trucking Factoring is the procedure of selling accounts receivable to an investor instead of waiting to collect the money from the customer. Oh, the Irony- Trucking factoring has a paradoxical difference: It is the monetary foundation of numerous of America's most successful businesses. Why is this ironic ? Since accounts receivable factoring is not instructed in business colleges, is rarely mentioned in company strategies and is relatively unidentified to the majority of most of American company people.

Yet it is a financial procedure that frees billions of dollars every year, enabling countless companies to grow and succeed. Receivable Funding has been around for thousands of years. Receivable Loan Financing Companies are investors 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 to pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business transactions, a big percentage of the retail company uses a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail deals. Utilizing the purest definition of the word, these large customer finance companies are truly simply large Accounts Receivable Factoring Companies of consumer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The store makes money almost immediately, although you do not make payment until you are ready.

For this service, the credit card business charges Sears a fee (typical common normal charges range from two to 4 percent of the sale). The Benefits Truck Factoring can provide numerous advantages to cash-hungry business. Instead of waiting 30, 60, 90 days or longer for payment on an item that has already been delivered, a company can factor (sell) its receivables for cash at a little discount off the amount of the invoice. Payroll, marketing efforts, and working capital are simply a few of the company needs that can be satisfied with instant  cash.

Staffing Factoring provides the means for a manufacturer to renew inventory and make more items to sell: There is no longer a requirement to wait for earlier sales to be paid. FACTORING is not simply a money management device for producers: Practically any type company can take advantage of Truck Factoring. Typically, a company that extends credit will have 10 to 20 percent of its annual sales tied up in invoices 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 expense or today s payroll with a customer s invoice, however you can sell that invoice for the cash to meet those obligations. Using trucking factoring companies is a fast and easy procedure. The factor purchases the invoice at a price cut, typically a few portion points less than the face value of the invoice.

 

 

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The U.s. Truck Association
states that there around
205,000 truck drivers with truck
companies and
250,000 private service providers trucking
firms certified to
operate in the States that transported,
according to their most current searchings for billions of
products, supplies and
standard materials .
There are numerous usual
carriers either going solo or in
groups on our nation
highways transferring these
crucial items to our
stores, manufacturing facilities and harbors.

Also trucking factoring
corporations benefit
several of them and offer their
receivable loan facilities
countrywideincluding
including the following states.

: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho State, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming

 

"

Woodbridge Township is a township in Middlesex County, New Jersey, United States. As of the 2010 United States Census, the township had a total population of 99,585,[7][8][9] reflecting an increase of 2,382 (+2.5%) from the 97,203 counted in the 2000 Census, which had in turn increased by 4,117 (+4.4%) from the 93,086 counted in the 1990 Census.[23] Woodbridge was the sixth-most-populous municipality in New Jersey in 2010, the same ranking it held a decade earlier.[24]The Township of Woodbridge is the oldest original township in New Jersey and is named after Reverend John W. Woodbridge (1613�1691) of Newbury, Massachusetts, who settled in the early autumn of 1664 and was granted a royal charter on June 1, 1669, by King Charles II of England. It was reincorporated on October 31, 1693. Woodbridge Township was incorporated by an Act of the New Jersey Legislature on February 21, 1798, as part of the initial group of 104 townships incorporated in the state under the Township Act. Portions of the township were taken to form Rahway (April 19, 1858), Raritan Township (March 17, 1870, now Edison Township) and Roosevelt (April 11, 1906, now Carteret).[25][26]According to Joshua Coffin, the early settlers included ""Captain John Pike, the ancestor of General Zebulon Montgomery Pike, who was killed at the battle of Queenstown in 1813; Thomas Bloomfield, the ancestor of Joseph Bloomfield, some years governor of New Jersey, for whom the township of Bloomfield, New Jersey is named; John Bishop, senior and junior; Jonathan Haynes; Henry Jaques; George March; Stephen Kent; Abraham Toppan, junior; Elisha Ilsley; Hugh March; John Bloomfield; Samuel Moore; Nathaniel Webster; John Ilsley; and others.""[27] Woodbridge was the site of the first gristmill in New Jersey.[28][29] The mill was built by Jonathan Singletary Dunham (married to Mary Bloomfield, relative of Joseph Bloomfield).[30][31] Food Corporation, owner of Shop, has its headquarters in Keasbey in the township.[94][95]

 

"

 

View Our Trucking Factoring YouTube Videos For More Information

 

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

 

Click below to find Trucking Companies in the United States:

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

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

 

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

 

 

"

Dunn 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, Dunn 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. The money was flowing, and times were great.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 to a crawl

 

. Worse still, it was noticed by Dunn 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, Lloyd Cole, CEO of Dunn 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 gone to his administrators and asked them what the problem had been. Were they doing things different, or wrong, when it came to collecting overdue accounts? When checking his bookkeeper's records this was definitely not the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. They could not afford to pay him their debt, but they could afford a lesser service, maybe. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. They had just gone home.This current state-of-affairs was causing Lloyd Cole to have some very restless nights. There were goods to ship, employees to pay, trucks to repair and maintain, and continuous overheads that were very extensive when compared to the funds (or lack of) that were incoming. At night he would speak to his wife Erin and shake his head in frustration.

 

""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""What could you do differently?"" she would say.Lloyd 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 traveling, bringing goods to all of his clients. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What could cause this ultimate death spiral of business?""I think I know what it could be,"" said Lloyd. ""I've relied too long on the profits I receive from invoices alone. I've let too many of our customers go too long without paying on their bills."" Erin 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'.""Lloyd knew his wife meant well, but he knew that he was responsible for too many people to sit idly by, waiting for the sun to peak over the clouds.The following day Lloyd walked into his office with a spring in his step, determined to call each and every client who owed money to Dunn Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Lloyd 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, Lloyd 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 Theresaerley knocked at his door.

 

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

 

""Of course Theresa, please come in."" Lloyd leaned back in his chair and looked expectantly at Theresaerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Lloyd."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard of factoring?"" she asked.""It does sound vaguely familiar. What is it?"" he said.She began, ""Well, it is really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Lloyd 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. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.""Lloyd replied cautiously ""I see - and what happens then?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

This company tells us what the cost will be to purchase factoring for our accounts receivable. Once we arrive at a mutual agreement, the funding begins.�Lloyd leaned forward and reviewed the paperwork closely.""It sounds too good to be true, Theresa,"" he said.""Now, now, I know, I thought the same thing. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. They appear to be very flexible, Lloyd,"" she drew a circle around a paragraph on the document before him.""How flexible?"" asked Lloyd.""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. 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,"" Lloyd said.He took a deep breath and looked at his secretary with something she recognized as hope.""Precisely�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Lloyd took a moment to think about this solution, and agreed with his secretary. The clients who owed them money were long standing friends and professional resources of Dunn. They did not want to throw away these relationships because they were having trouble paying their bills now. Lloyd knew only too well that the whole economy was floundering, and that it was not going to change overnight. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. He did not want to lose business but he also did not want to lose any more money.""Well, let me think about this tonight Theresa, thank you."" Theresa nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Lloyd keep the shirt on his back, and possibly hers too.Lloyd stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. He wondered if there might be other problems freight factoring could help Dunn 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. Lloyd 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 Charlie about this,"" muttered Lloyd to himself.Charlie is Lloyd's son-in-law, and he really admired the ideas behind Dunn, so much so that only two years before he had started his own transportation service business. At that time Lloyd knew the struggles Charlie would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Dunn was struggling then the little guys, like Charlie, were going to be in even more trouble.

 

But, an antidote may have been found in freight factoring and Lloyd was soon to find out.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Lloyd found himself beginning to dig his way out of the hole his delinquent account holders had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They used that time to refocus their efforts in being competitive in new territories. Lloyd recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. If Lloyd hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

"

Woodbridge Township is a township in Middlesex County, New Jersey, United States. As of the 2010 United States Census, the township had a total population of 99,585,[7][8][9] reflecting an increase of 2,382 (+2.5%) from the 97,203 counted in the 2000 Census, which had in turn increased by 4,117 (+4.4%) from the 93,086 counted in the 1990 Census.[23] Woodbridge was the sixth-most-populous municipality in New Jersey in 2010, the same ranking it held a decade earlier.[24]The Township of Woodbridge is the oldest original township in New Jersey and is named after Reverend John W. Woodbridge (1613�1691) of Newbury, Massachusetts, who settled in the early autumn of 1664 and was granted a royal charter on June 1, 1669, by King Charles II of England. It was reincorporated on October 31, 1693. Woodbridge Township was incorporated by an Act of the New Jersey Legislature on February 21, 1798, as part of the initial group of 104 townships incorporated in the state under the Township Act. Portions of the township were taken to form Rahway (April 19, 1858), Raritan Township (March 17, 1870, now Edison Township) and Roosevelt (April 11, 1906, now Carteret).[25][26]According to Joshua Coffin, the early settlers included ""Captain John Pike, the ancestor of General Zebulon Montgomery Pike, who was killed at the battle of Queenstown in 1813; Thomas Bloomfield, the ancestor of Joseph Bloomfield, some years governor of New Jersey, for whom the township of Bloomfield, New Jersey is named; John Bishop, senior and junior; Jonathan Haynes; Henry Jaques; George March; Stephen Kent; Abraham Toppan, junior; Elisha Ilsley; Hugh March; John Bloomfield; Samuel Moore; Nathaniel Webster; John Ilsley; and others.""[27] Woodbridge was the site of the first gristmill in New Jersey.[28][29] The mill was built by Jonathan Singletary Dunham (married to Mary Bloomfield, relative of Joseph Bloomfield).[30][31] Food Corporation, owner of Shop, has its headquarters in Keasbey in the township.[94][95]

 

"

 

More Trucking Factoring Companies Story Articles

"

Factoring in the Future of a Trucking Business: A Story The phone was ringing on his desk, and Gabriel Alvarez 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. Alvarez 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.

 

Gabriel�s father had started as an owner-operator and had grown Alvarez Trucking Company into a fifteen trailer fleet over forty years. Yes, they had survived some very difficult times when it appeared like they might go under, and even Gabriel's mother had jumped into the cab at times 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 Gabriel�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. Every time he had to turn down a request, Alvarez Trucking looked weak in a very strong market.

 

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

 

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

 

He wondered about factoring - was this the answer for him? 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. 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 the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Now it was time for Gabriel to do his homework. Gabriel had heard that there were companies that charged for same day money transfers and would only advance a percentage of the money owed to your company while holding the rest in a private account if they didn�t get their bill payment within 60 or so 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 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?

 

However, it all turned out to be very simple. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He was quite happy to sign an exclusive contract. 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. He was more than happy with the figures he was offered in percentage terms on the freight bills. It was good money.

 

It was really refreshing dealing with the factoring people. They were extremely helpful and more personable than the bank staff. 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 Gabriel 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 Alvarez 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.

 

Feeling happier now, Gabriel stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. He suddenly realized that, with this new cash flow, he could actually expand Alvarez Trucking Company and who knows, move into Canada, which had always been his dream. His heart felt full knowing his sons wouldn�t have to worry about money because of the right decisions he had made for their trucking business.

 

"

 

 

 

 

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Trucking Factoring  Articles

"

�So It is not a loan?� asked Enrique Owens, 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.Enrique 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 Zachary. His company was called Miles Trucking, named after both of his grandfathers, Karl and Everett. Both of these men had been very hardworking and had set a great example for Zachary.Six months ago disaster struck Zachary'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. Enrique depended on his full fleet, and missing two trucks was devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Enrique had on hand.A big problem a lot of trucking companies came across was how bills were paid in the industry. You could go a month or more before bills were completely paid off. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Enrique wasn�t a bad owner, and he hadn�t messed up. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.That�s where the woman across the desk came in. Her name was Bonnie and she worked for a factoring company. Enrique had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.She sat there now, and explained. �it is really not a loan at all: we actually buy your accounts receivable. we 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.Enrique agreed. It sounded perfect - perhaps too good?.The woman laughed. �You look like you don�t believe me,� she chuckled.�No, I do, I just think it sounds a bit too good to be true. I thought I was going to lose my company.�Bonnie smiled, agreeing. �We get that a lot. Listen, I�d hate to see you lose your company. You work hard, you�ve put everything you can into it. We all need help sometimes. That's why we do what we do.""Well, I'm very grateful that you came to see me today.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Bonnie with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Enrique completed the form, with Bonnie offering advice as needed.

 

The profile filled Bonnie and her company in on Zachary�s company, and would help them determine if he was 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 Enrique filled out his form, Bonnie was pretty sure he was a perfect candidate for factoring.When the form was done Bonnie took it and slid it into her briefcase. She then stood, reached across the desk and shook Zachary�s hand. He stood before they shook as well, and then smiled. They said their goodbyes and Enrique walked her to the door, and then returned to his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He leaned back and closed his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. Talking to Bonnie 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.All those long, sleepless nights. The sudden panic attacks, not matter where he was. Already he could feel all the stress start to drain away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.Enrique couldn�t help but think back to when he had first started the business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been successful. Offering home cooking in his own hometown, his business had really prospered.But he had gotten bored. 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 Miles Trucking. So he did it. Once again he built a company from the ground up. He had been successful.And then the trucks went down, and his success looked to be in flux. He was nearing fifty. He was concerned that he just did not have the energy left to try and save the business. But he couldn�t give up. The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He didn�t know how to say quit.And now it seemed as though he would not have to - all because of Factoring. Zachary's eyes opened, he sat forward in his chair and turned on his computer. He had things to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

The reason why Trucking Establishments Employ Factoring Firms.

 

As the manager of your own firm, you may likely be much more than conscious already of the hardship in making sure that capital issues do not become a problem down the line. After all, the toughest thing that can possibly occur for your firm is to find yourself embroiled in a long and complicated circumstance that leaves you forever trying to find the resources you necessitate on an recurring manner.

 

For any type of company in this case, the dilemma can come for waiting for work to clear up and actually be provided into your bank account. Statements, checks, and the like could take some time to actually to be taken care of which can easily leave you with temporary capital difficulties. Thank goodness, there are options out there for companies to explore-- and one of these is factoring firms.

 

Factoring agencies will, in exchange for your invoices, grant you with the cash money today to ensure you do not need to fret about the delaying duration that could make paying out the expenses and obtaining materialsmore complicated. With this style of setup, invoice factoring can come to be extraordinarily practical for numerous enterprises who ought to avoid a money trap which they have discovered themselves in.

 

Because, depending on the volume of the work, it can take up to 60 days for some establishments to get paid out then it is necessary to blanket your own back and not leave yourself money short to pay the expenses. After all, how many businesses possess two months cash flow just lying there to handle all their bills till they make money?

 

This is specifically true of truck firms. They often handle bunches of statements which means a significant amount of collection period demands company owner themselves. Attempting to get paid off in time can eventually become an amazing difficulty and this is precisely why you make use of trucking factoring providers who are thrilled to help out truckers particularly.

 

As most of us recognize, trucking is an incredibly big industry with countless agencies out there utilizing hundreds of operators. However, many of these drivers land up in cash difficulties for the reason that they are still waiting on work from six weeks back to actually pay them. When this is the situation for a truck business, consulting factoring providers for aid may be the most suitable option left.

 

This signifies that a truck corporation can provide the salaries of the workers, keep all the trucks filled with fuel and continue to surmount, develop and expand without consistently waiting for the funds which is taking too long to come in. Trucking Business enterprises functioning without a factoring system applied are leaving themselves at critical risk, as rivals cash out rapidly and continue to grow.

 

There's genuinely almost nothing to be distressed about when it comes to utilizing a Factoring agency-- they usually are not like a bank or a person who is going to leave you with a large stockpile of liability to pay back. You give them legitimate invoices from job you have already finalized , you are simply expediting the repayment process.

 

In the Usa, where truck firms do well, factoring companies are not considered borrowing in any capacity. This confidential arrangement then permits both groups to make money and indulge in a convenient future-- it provides the factoring company a guaranteed asset of money to put into the list and it provides the trucking business the needed money that they sweated to get.

 

The trucking enterprise gives their accounts to the factoring business. The trucking factoring company then acquire the payments from the trucking company's customers. Factoring has been all around for centuries and has been adopted for many years by several different business-- but none much more so than truckers. While you may lose out on a small part of the money, something like 1-3 % depending upon who you collaborate with, it means that you are receiving the cash today and can actually start putting the cash to work.

 

Once and for all, an IOU or an invoice is not going to cover bills, is it? For trucking firms when the income can be great one day and gone the next, it is up to the vehicle drivers to work smartly and to make sure they are leaving themselves with a substantial amount of time and finance to get through the week up until they are handed over once again.

 

So the next period your trucking company is bearing some temporary cash flow troubles and you are shelling out excessive time chasing sluggish paying customers, why not begin looking at utilizing a factoring companies as a method to get your finances and give yourself a more worry-free future in the eyes of your trucking personnel and your bank difference?

 

 

 

 

 

 

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Traditional Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. These loans can be a life-saver, but they're not always available to every business. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. 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 finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to sell. Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

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. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. 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. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

2. No Collateral Required. Another great benefit of using the services of a Trucking Factoring company instead of a bank loan is that there is no collateral required for the Trucking Factoring company, because the Trucking Factoring company is buying your accounts receivables. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This 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 main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very efficient at debt collecting, and this frees up your valuable time to devote to running your company.

 

In addition, since the Trucking Factoring company evaluates the credit quality of your customers prior to purchasing the accounts receivable you gain valuable information into which customers are likely to pay and which ones are not so likely to pay.While a Trucking Factoring company is not the only way for your business to obtain the money it needs to keep growing, it does offer a type of financing well worth considering.

 

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