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

accountreceivablefactor.com

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factoring for trucking

Invoice Factoring is beneficial for numerous reasons. It permits a truck firm to raise money without getting brand-new financial obligation. While debt is often needed, a lot of trucking firms would prefer to raise cash without borrowing money. Debt is high-risk, and when it cannot be repaid, possessions can be repossessed. If the financial obligation is big enough, it may even force a freight brokerage out of business.

 

 

 

 

 

 

 

How To Get More Cash - Pick An Invoice Factoring Company Instead Of A Typical Bank Financing

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 company, even effective ones, have experienced bad money flow.

Money flow does not have to be a problem any ever more. Do not be deceived -- banks are not the only places you can get financing. Other options are available and you do not have to borrow. Exactly what is trucking factoring ? One solution is called truck factoring. Truck Factoring is the procedure of offering accounts receivable to a financier rather than waiting to collect the cash from the client. Oh, the Irony- Truck factoring has a paradoxical distinction: It is the financial backbone of many of America's most successful companies. Why is this ironic ? Since trucking factoring is not instructed in business colleges, is rarely mentioned in company strategies and is fairly unknown to bulk of most of American company individuals.

Yet it is a monetary process that frees billions of dollars every year, enabling countless businesses to grow and prosper. Receivable Funding has actually been around for thousands of years. Trucking Factoring Companies are investors who pay cash for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your customer has to pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business deals, a large portion of the retail company uses a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail transactions. Using the purest definition of the word, these big customer finance companies are really simply big Invoice Factoring Businesses of consumer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The shop makes money almost immediately, even though you do not make payment until you are ready.

For this service, the charge card business charges Sears a fee (typical common normal fees vary from 2 to four percent of the sale). The Advantages Trucking Factoring can offer numerous benefits to cash-hungry business. Instead of waiting 30, 60, 90 days or longer for payment on a product that has already been delivered, a business can factor (sell) its receivables for money at a little price cut off the dollar value of the invoice. Payroll, marketing efforts, and working capital are simply a few of the company needs that can be met with instant  cash.

Invoice Factoring provides the means for a producer to replenish inventory and make even more items to sell: There is no longer a requirement to wait for earlier sales to be paid. Receivable Loan Financing is not just a cash management device for manufacturers: Practically any type company can take advantage of Staffing 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 moment about how much is bound in 60 days' worth of invoices: You can not pay the power expense or today s payroll with a customer s invoice, but you can sell that invoice for the money to satisfy those responsibilities. Using trucking factoring companies is a fast and simple process. The factoring company buys the invoice at a discount, typically a few portion points less than the face value of the invoice.

 

 

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The U.s. Truck Association
mentions that there around
195,000 workers with truck
businesses and
276,000 personal companies trucking
companies accredited to
operate in America that carried,
according to their newest listings of millions of
items, supplies and
standard products .
There are a number of usual
providers either going solo or in
groups on our country
roads transporting these
vital products to our
shops, manufacturing facilities and shipping ports.

Furthermore trucking factoring
firms benefit
numerous of them and offer their
accounts receivablesfinancing facilities
countrywidecomprising
including the following states.

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

 

 

Oakland is located in the west-central part of California on the east side of San Francisco Bay. It is the seat of Alameda County.Don Luis Peralta first settled the site of Oakland in 1820 when he established the Rancho San Antonio. The gold rush of 1849 attracted more people to the area, and the city's population continued to grow after a ferry service to San Francisco was started in 1851. Oakland was incorporated as a town in 1852 and as a city in 1854. It was named after the numerous oak trees found in the area. Oakland became the western terminus of the Central Pacific Railroad in 1869 and the seat of Alameda County in 1873.In the latter part of the 19th century and also in 1910, additional territory was annexed to Oakland and the city assumed its present size. In 1906, thousands of people fled to Oakland in the aftermath of the San Francisco earthquake and settled there permanently, furthering the city's growth. Oakland's economic development continued to rise with the opening of the San Francisco�Oakland Bay Bridge in 1936.Oakland is a major center of culture and commerce. It is an important container shipping port and the terminus of three transcontinental railroads. Oakland's industries include food processing, transportation, software, telecommunications, pharmaceuticals, and electrical and high technology manufacturing. The city is the headquarters of many national and international corporations.Oakland is a major West Coast port, and the fifth busiest in the United States by cargo volume. The Port of Oakland handles 99% of all containerized goods moving through Northern California, representing $41 billion worth of international trade. There are nearly 200,000 jobs related to marine cargo transport in the Oakland area. These jobs range from minimum wage hourly positions to Transportation Storage and Distribution Managers who earn an annual average salary of $91,520. The Port of Oakland was an early innovator/pioneer in the technologies of Intermodal Containerized Shipping. The city is also home to several major corporations including Kaiser Permanente and Clorox, as well as the corporate headquarters for national brands and in recent years many start-up high tech and green energy companies have found a home in the downtown neighborhoods of Uptown, City Center, Jack London Square and Lake Merritt Financial District. In 2014, Oakland was the fifth ranked city for tech entrepreneurs by total venture capital investment.As of 2013, the San Francisco-Oakland-Hayward has a GDP (Gross Domestic Product) of $360.4 billion, ranking eighth among metropolitan areas in the United States. In 2014, Oakland was amongst the best cities to start a career, the highest ranked city in California after San Francisco. Additionally, Oakland ranked fourth in cities with professional opportunities. Numerous companies in San Francisco continue to expand in or migrate over to Oakland.Oakland experienced an increase of both its population and of land values in the early-to-mid first decade of the 21st century. The 10k Plan, which began during former mayor administration, and intensified during former mayor Jerry Brown's administration resulted in several thousand units of new multi-family housing and development.

 

 

 

 

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

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.

 

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

 

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

 

The largest trucking companies in the U.S. set a revenue record in 2013, but revenuegrowth slowed for the second year in a row.

The combined revenue of the 50 largest motor carriers rose to $106.6 billion last year, according to The Top 50 Trucking Companies list, based on data prepared by Consulting Group in Pittsburgh.

 

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.

The largest trucking companies in the U.S. set a revenue record in 2013, but revenuegrowth slowed for the second year in a row.

The combined revenue of the 50 largest motor carriers rose to $106.6 billion last year, according to The Top 50 Trucking Companies list, based on data prepared by Consulting Group in Pittsburgh.

 

 

"

Ramos Truck & Haul have been operating their business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the heady times from 2002 to 2007, Ramos was a top rated accounts receivable mastermind of the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. Times were great for everyone, and the cash was flowing.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed to a crawl

 

. And worse yet, Ramos 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. And as spring turmed to summer and summer into the early days of fall, Barry Hall, CEO of Ramos 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 something wrong or different when it came to reaching out to delinquent accounts? By his bookkeepers records, this wasn't the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Ramos hadn't gone elsewhere. They had just gone home.This current state-of-affairs was causing Barry Hall to have some very restless nights. Barry was very concerned, because there were constant overheads, goods to ship, employees to pay, and trucks which needed to be maintained, but there just wasn't the money coming back into the business. After work he would confide in his wife, Eva, and neither were unable to stop the constant worry over the lack of funds.""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""What could you do differently?"" she would ask.Barry would stare off for a moment and then close 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 on earth was happening to create the death of his business?""I think I know what it could be,"" said Barry. ""I've relied too long on the profits I receive from invoices alone. I've let too many of our customers go too long without paying on their bills."" Linda could only grab her husband's hand and look at him lovingly, ""it is a hard economy. It might be awhile until things get settled up.

 

""Barry knew very well that Eva was only trying to help, but his responsibilities weighed heavily on his shoulders and he knew he had better do something soon to resolve this situation.The following day Barry walked into his office with a spring in his step, determined to call each and every client who owed money to Ramos Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Barry 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, Barry 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 Catherineerley knocked at his door.

 

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

 

""Of course Catherine, please come in."" Barry leaned back in his chair and looked expectantly at Catherineerely.""Well Barry, this afternoon I did some research, trying to work out how we are going to get out of this mess."" 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 factoring""? he asked.She began, ""Well, it is really very simple. So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Immediately?"" Barry interrupted.""Yes, immediately,"" she continued, ""In a nutshell, it is pretty easy. We start by having a professional account manager review our figures and help us set up a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.""I see,� Barry said. �And then what?""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. We come to an agreement and the funding starts pouring out.�Barry was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""I do not know, Catherine - it just sounds too good to be true"", Barry said quietly.""Now, now, I know, I thought the same thing. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. And they're flexible Barry,"" she drew a circle around a paragraph on the document before him.""How flexible?"" he asked.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. Apparently they can figure this all out in two to four days.

 

""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. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" Barry said.He took a deep breath and looked at his secretary with something she recognized as hope.""Exactly�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Barry took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Ramos Truck & Haul were professional resources of the company, but they were also long-standing friends. Barry wasn't prepared to lose these relationships just because they were having financial issues at the moment. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. That unknown amount of time could create a disaster situation for both of them if he wasn't careful in how these debtors were handled. Of course he did not want to lose any more money, but he did not want to lose business either.""Well, let me think about this tonight Catherine, thank you."" Catherine nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Barry keep the shirt on his back, and possibly hers too.Barry 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 Ramos Truck & Haul with? With his pencil gliding down the sheet he noticed that the factoring company could help fray the cost of fuel with fuel discount cards and fuel advances. In fact, Ramos could receive up to fifty-percent cash advances upon load pick-ups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""I must tell Travis the good news,"" muttered Barry to himself.His son-in-law Travis had liked the idea of Ramos 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. Barry knew then what struggles Travis would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Ramos was hurting, a little guy like Travis was about to catch his death. But, maybe the answer for both of them was in freight factoring, and Barry was going to find out very soon.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Barry was beginning to find his way out of the hole his debtors had created for him.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. Barry recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. He probably wouldn't be in business today had he not learned just in time about freight factoring.

 

"

 

 

More Trucking Factoring Companies Story Articles

The Future of a Trucking Company, and Factoring The phone was ringing on his desk, and George Martin 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. Martin 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.

 

George�s father had started as an owner-operator and had grown Martin 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 George's mother had jumped into the cab at times to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. But now things were different: the company was in George's hands and he needed to ensure that this business would be left in great shape for his sons.

 

To move Martin Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. His employees needed to be paid. They had families and household bills too. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. Every time he had to turn down a request, Martin Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. George allowed himself a good hard chuckle. 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. 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.

 

George knew he was right in his forward thinking. How would he take Martin Trucking to the next level? More importantly, how could he afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. 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? If he was being honest, he did not really understand how it all worked. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

George had to really consider what his next step was going to be. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

However, it all turned out to be very simple. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He was quite happy to sign an exclusive contract. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a 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 sounded like a great scheme to him.

 

It was really refreshing dealing with the factoring people. They were extremely helpful and more personable than the bank staff. 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. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for George because he and his father had created a very strong and loyal list of clientele over the years. So he knew they would understand when the factoring company contacted them for the invoices. His clients wouldn�t think poorly of Martin Trucking and the factoring companies appeared capable of handling the accounts receivable in the same polite manner that his father had used over the years.

 

Feeling happier now, George 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 Martin Trucking Company and who knows, move into Canada, which had always been his dream. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

 

 

 

 

 

 

 

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Recruitment Factoring

 

 

 

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Trucking Factoring  Articles

"

�So It is not a loan?� asked Peter Cox, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�No, not exactly,� she stated.Peter Cox owned a small trucking company, and his business had recently fallen on difficult times. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Rodney. His company was called Ray Trucking, named after both of his grandfathers, Brian and Bernard. They had both been hardworking men, and had done a lot to make Peter the same.Disaster had struck half a year ago, when two trucks in Rodney�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. The financial security of Rodney's company relied on his full fleet on fifteen being on the road, and missing two trucks was just 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.

 

You could go a month or more before bills were completely paid off. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Peter was an excellent business man, and he certainly hadn't done anything wrong. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.And that's why he found himself across the desk from this woman. Peter knew she was employed by a Factoring company and that her name was Elizabeth. Peter 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�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.Peter agreed. It sounded good to him, almost too good.The woman laughed. �You look like you don�t believe me,� she said.�Oh no, I do: it just sounds too good to be true. I actually thought I might end up losing my business.�Elizabeth nodded. �Yes, we get a lot of that. There's no way we want to see you lose your business. 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.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Elizabeth with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Peter filled the form out, with Elizabeth available to help him if he needed it. The profile filled Elizabeth and her company in on Rodney�s company, and would help them determine if he was suitable for factoring. In truth, not all companies were. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. As Peter completed his form, Elizabeth listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Elizabeth took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Rodney�s hand. He stood before they shook as well, and then smiled. Peter walked Elizabeth to the door where they said 'Goodbye', then he went back into his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He shut his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. Talking to Elizabeth 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.Peter 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 really successful. Home cooking in his hometown, and he had done very well.But it wasn't what he really wanted to do. He wasn't passionate about the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took half a year off, and in that time he thought to start Ray Trucking. And that's exactly what he did. 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. The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He did not want to quit - both for himself and for his staff members.And now it seemed as though he would not have to - all because of Factoring. Rodney's eyes opened, he sat forward in his chair and turned on his computer. He had lots to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

The key reasons why Trucking Corporations Employ Factoring Companies.

 

As the owner of your own establishment, you may be much more than knowledgeable already of the challenge in making sure that capital matters do not become a difficulty down the line. Anyway, the most awful thing that can possibly take place for your company is to find yourself embroiled in a long and tough condition that leaves you forever looking for the funds you need to have on an recurring basis.

 

For pretty much any firm in this instance, the complication can come for waiting for work to lapse and actually be compensated into your bank account. Invoices, checks, and the like could take some time to actually to beprocessed which can easily leave you with momentary available resources problems. Gratefully, there are solutions out there for firms to delve into-- and one of these is factoring providers.

 

Factoring companies will, in trade for your invoices, offer you with the money right away so that you do not need to worry about the lingering time span that could make paying out the expenses and purchasing toolsmore tough. With this style of setup, invoice factoring can become tremendously useful for countless establishments who need to avoid a money ploy which they have discovered themselves in.

 

Given that, depending on the scale of the job, it can take up to 60 days for several enterprises to get paid then it is very important to blanket your own back and certainly not leave yourself cash short to settle the costs. After all, how many companies have two months revenue just occupying there to deal with all their expenses till they earn?

 

This is especially correct of trucking enterprises. They generally manage good deals of invoices which means a substantial amount of collection period concerns business owner themselves. Trying to get paid in time can develop into an amazing inconvenience and this is exactly why you make use of truck factoring organizations who are thrilled to help out truckers mainly.

 

As most of us determine, trucking is an incredibly big business with a lot of firms out there working with hundreds of vehicle drivers. Regretfully, several of these drivers wind up in income dilemmas simply because they are still waiting on work from six weeks previously to actually pay them. When this is the case for a truck organization, turning to factoring agencies for help could be the most suitable choice left.

 

This signifies that a truck organization can pay off the wages of the workers, keep all the cars loaded with gas and continue to go up, thrive and expand without consistently waiting for the funds which is taking too prolonged to come in. Trucking Businesses functioning without a factoring program used are leaving themselves at considerable hazard, as competitions cash out promptly and go on to expand.

 

There's honestly not a thing to be worried about when it comes to using a Factoring agency-- they are not like a banking company or a person who is going to leave you with a massive mound of personal debt to pay back. You give them genuine invoices from work you have already accomplished , you are only just hastening the payment system.

 

In the United States, where truck establishments flourish, factoring establishments are not considered borrowing in any capacity. This private settlement then permits both groups to benefit and indulge in a convenient future-- it gives the factoring company a guaranteed resource of money to include in the list and it furnishes the trucking business the required cash that they sweated to gain.

 

The trucking establishment provides their statements to the factoring business. The trucking factoring business then receive the installment payments from the trucking company's clients. Factoring has been in existence for centuries and has been employed for decades by several diverse business-- but none much more so than truckers. While you might possibly lose out on a small part of the money, something like 1-3 % depending upon who you deal with, it implies that you are getting the finances today and can actually begin putting the funds to function.

 

Once and for all, an IOU or an invoice is absolutely not going to pay for bills, is it? For trucking agencies when the funds can be fantastic one day and gone the next, it is up to the vehicle drivers to work prudently and to guarantee they are leaving themselves with a substantial amount of time and finance to get through the week until they are paid for again.

 

So the next instance your trucking company is enduring some momentary capital troubles and you are shelling out excessive time chasing inactive paying clients, why not start off taking into consideration using a factoring businesses as a method to get your finances and give yourself a more convenient future in the eyes of your trucking workers and your bank balance?

 

 

 

 

 

 

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Traditional Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. These loans can be a life-saver, but they're not always available to every business. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

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

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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. You will not Incur 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. 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. There's no collateral required. Another great benefit of using the services of a Trucking Factoring company instead of a bank loan is that there is no collateral required for the Trucking Factoring company, because the Trucking Factoring company is buying your accounts receivables. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This 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. 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. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.

 

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

 

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

 

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.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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