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The Secret to Being Wealthy - Our Receivable Loan Company Can Give
Your Freight Company The Cash You Want

workingcapitalfactoring.org

factoring trucking business

factoring trucking receivables

freight invoice factoring

freight bill factoring

Medium-Size freight brokerage companies, specifically those who have actually not been in existence for extremely long, will frequently find it tough to protect a loan. Banks are commonly hesitant to lend cash to businesses that do not have a great deal of income and properties. They also want evidence of the practicality of a business and hence require that many operations, especially small ones, be in company for a particular quantity of time before they are willing to turn over any cash. Because of this, a small business typically has a couple of cash generating options when needs arise. One choice available, but commonly neglected, is receivable Financing. This is an exceptional method for a small company to obtain cash.

 

 

 

 

 

 

 

The Instrument of Profitable Companies - Pick An Accounts Receivable Factoring Company Instead Of A Typical Bank Funding

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

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

Cash flow does not have to be a problem any more. Do not be fooled -- banks are not the only places you can get funding. Other solutions are offered and you do not have to borrow money. Exactly what is trucking factoring ? One solution is called truck factoring. Trucking Factoring is the process of selling invoices to a financier instead of waiting to gather the cash from the client. Oh, the Irony- Trucking factoring has an ironic distinction: It is the monetary backbone of many of America's most effective businesses. Why is this paradoxical ? Since truck factoring is not instructed in business colleges, is seldom mentioned in company strategies and is relatively unidentified to the majority of most of American business people.

Yet it is a monetary process that frees billions of dollars every year, allowing countless companies to grow and prosper. FACTORING has been around for thousands of years. Receivable Financing Companies are financiers who pay cash for the right to receive the future payments on your invoices. An overdue receivable or invoice has value. It is a debt your client has agreed pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business transactions, a large portion of the retail business uses a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail deals. Utilizing the purest definition of the word, these large consumer finance companies are really simply big Trucking Factoring Businesses of consumer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The shop makes money practically immediately, even though you do not pay up until you are prepared.

For this service, the charge card company charges Sears a charge (typical common normal charges vary from 2 to four percent of the sale). The Benefits Accounts Receivable Factoring can offer numerous advantages to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on a product that has actually already been provided, a business can factor (sell) its receivables for money at a small price cut off the dollar value of the invoice. Payroll, advertising efforts, and working capital are just a few of the company requirements that can be met with instant  cash.

Receivable Loan Funding provides the ways for a producer to renew stock and make even more items to offer: There is no longer a need to wait for earlier sales to be paid. Receivable Loan Financing is not simply a money management tool for producers: Practically any kind business can benefit from Receivable Loan Funding. Typically, a business that extends credit will have 10 to 20 percent of its yearly sales bound in invoices at any given time. Think for a moment about exactly how much is bound in 60 days' worth of invoices: You can not pay the power expense or this week s payroll with a customer s invoice, however you can sell that invoice for the money to meet those obligations. Using truck factoring companies is a fast and easy process. The factoring company purchases the invoice at a discount, typically a few portion points less than the stated value of the invoice.

 

 

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cleveland-factoring-companies

 

The U.s. Truck Organization
mentions that there are about
195,000 employees with freight trucking
companies and
276,000 personal providers trucking
companies licensed to
operate in the United States that transported,
according to their most current searchings for billions of
products, materials and
basic materials .
There are numerous typical
providers either going solo or in
teams on our nation
roads transporting these
important items to our
shops, factories and ports.

And truck factoring
companies aid
countless of them and offer their
receivables financing facilities
nationallycounting
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

 

"

Cleveland is the second-largest city in Ohio and the seat of Cuyahoga County. It is located in the northeast part of the state on Lake Erie. In the colonial era, the Cleveland area was known as the Connecticut Western Reserve, part of a land grant made to Connecticut by King Charles II in 1662. The city was founded in 1796 by Gen. Moses Cleaveland, who was the head surveyor of the Connecticut Land Company. This company had bought 3 million acres in what is now northern Ohio. A permanent settlement was founded in 1799, named after the general, and the spelling was shortened to Cleveland. The city was incorporated in 1836.Cleveland's industrial growth was stimulated by the opening of the Ohio and Erie canals in 1832 and, later, by the advent of the Civil War, with the increasing demand for machinery, railroad equipment, ships, and other items. Today, the port of Cleveland is the largest overseas general cargo port on Lake Erie. Greater Cleveland has long been famous as a durable goods manufacturing area. Following the national trend, however, Cleveland has been shifting to a more services-based economy. Greater Cleveland is a world corporate center for leading national and multinational companies in industries ranging from transportation, insurance, retailing, and utilities, to commercial banking and finance.The city's cultural attractions include the Cleveland Museum of Art and the Cleveland Orchestra, one of the country's most highly acclaimed symphony orchestras. Jacobs Field, a major league ballpark, and the Rock & Roll Hall of Fame also draw thousands of visitors to the cityCleveland's geographic location on the Cuyahoga River and Lake Erie has been key to its growth. The Ohio and Erie Canal coupled with rail links helped establish the city as an important business center. Steel and many other manufactured goods emerged as leading industries.The city diversified its economy in addition to its manufacturing sector.In 2007, Cleveland's commercial real estate market experienced rebound with a record pace of purchases, with a housing vacancy of 10%. Downtown Cleveland from the Superior Viaduct.The Cleveland Clinic is the city's largest private employer with a workforce of over 37,000 as of 2008. It carries the distinction as being among America's best hospitals with top ratings published in & World Report. Cleveland's healthcare sector includes University Hospitals of Cleveland, a renowned center for cancer treatment, and MetroHealth medical center. Cleveland is also noted in the fields of biotechnology and fuel cell research, led by Case Western Reserve University, the Cleveland Clinic, and University Hospitals of Cleveland. Cleveland is among the top recipients of investment for biotech start- and research. Case Western Reserve, the Clinic, and University Hospitals have recently announced plans to build a large biotechnology research center and incubator on the site of the former Mt. Sinai Medical Center, creating a research campus to stimulate biotech startup companies that can be spun off from research conducted in the city. NASA's Glenn Research Center is adjacent to Cleveland Hopkins International Airport.City leaders promoted growth of the technology sector in the first decade of the 21st century. Mayor l appointed a ""tech czar"" to recruit technology companies to the downtown office market, offering connections to the high-speed fiber networks that run underneath downtown streets in several ""high-tech offices"" focused on the Euclid Avenue area. Cleveland State University hired a technology transfer officer to cultivate technology transfers from CSU research to marketable ideas and companies in the Cleveland area, and appointed a vice president for economic development. Case Western Reserve University participated in technology initiatives such as the OneCommunity project, a high-speed fiber optic network linking the area's research centers intended to stimulate growth. In mid-2005, Cleveland was named an Intel ""Worldwide Digital Community"" along with Corpus Christi, Texas, Philadelphia, Pennsylvania, and Taipei. This added about $12 million for marketing to expand regional technology partnerships, created a city-wide Wi-Fi network, and developed a tech economy. In addition to this Intel initiative, in January 2006 a New York-based think tank, the Intelligent Community Forum, selected Cleveland as the sole American city among its seven finalists for the ""Intelligent Community of the Year"" award. The group announced that it nominated the city for its OneCommunity network with potential broadband applications. OneCommunity collaborated with Cisco Systems to deploy a wireless network starting in September 2006

 

"

 

View Our Truck Factoring Companies YouTube Videos For More Information

 

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:

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

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

 

EveryJob is a free service dedicated to helping professional truck drivers find new truck driving jobs with the best trucking companies hiring today!

Locate truck driving jobs by city, state, position andenefits offered. Search current driving jobs and fill out the EZ truck driver application customized for cdl trucking jobs

 

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

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

 

Click below to find Trucking Companies in the United States:

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

Click below to find Trucking Companies in the United States:

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

Click below to find Trucking Companies in the United States:

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

 

"

Arnold 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, Arnold 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. 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 down. And worse yet, Arnold 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, Tim Taylor, CEO of Arnold felt a chill go down his spine whenever he would look at the weekly A/R reports. There was a growing list of clients who now owed them back debt.He had gone to his administrators and asked them what the problem had been. Were they doing things different, or wrong, when it came to collecting overdue accounts? By his bookkeepers records, this wasn't the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. The had just gone!.The situation looked dire to Tim Taylor. 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. In the evenings he would discuss his concerns with his wife, Beatrice, and still find no relief from the worry and frustration.

 

""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would say.Tim would stare off into the distance, and then slowly close his eyes. He could see the fleet of trucks he had purchased over the years. He could see them on the road, delivering good to all his loyal customers. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. Why couldn�t he work out how to resolve this financial problem with his business?""I know what it is,"" Tim said. ""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."" All Beatrice could do was hold his hand and look at him tenderly. 'We know it is a difficult economy at the moment - perhaps it will take a while for people to get on top of their bills'.""Tim knew very well that Beatrice 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 next day Tim strolled into his office and was determined to sit down and make every phone call to every client who had owed Arnold money. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. A waste of time - a waste of money - he had the best intentions, but all the while Tim was realising just how much trouble he was in.Poor Tim spent the whole morning trying in vain to contact his debtors: they promised to call back, dodged his calls, or made small interest-only payments. He was beginning to feel quite despaired when his secretary knocked on his door.

 

""Can I have a word with you Tim?"" she asked standing in the doorway.

 

""Of course Susan, please come in."" Tim leaned back in his chair and looked expectantly at Susanerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Tim."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard the word factoring?"" she asked.""It sounds vaguely familiar. What is factoring""? he asked.She began, ""Well, it is really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Tim interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""In a nutshell, it is pretty easy. We can have an expert account manager review our numbers and help us complete a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It�s a broad view.""Tim replied cautiously ""I see - and what happens then?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

This company tells us what the cost will be to purchase factoring for our accounts receivable. We come to an agreement and the funding starts pouring out.�Leaning forward, Tim studied the documents very closely.""It sounds too good to be true, Susan,"" 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, Tim,"" 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,"" said Tim.He took a deep breath and looked at his secretary with something she recognized as hope.""Precisely�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Tim 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 Arnold. Just because they were experiencing difficulties paying their own bills now, Tim was very concerned about losing these relationships. Tim knew only too well that the whole economy was floundering, and that it was not going to change overnight. 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 Susan, thank you."" Susan nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Tim sat behind his desk and looked over the details Susan had not mentioned in their meeting. What other issues could freight factoring help Arnold 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, Arnold 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 Dave the good news,"" muttered Tim to himself.Tim's son-in-law, Dave, loved the idea behind Arnold and highly respected his father-in-law for having such great business sense, that two years ago he got his capital together and started his own transportation company. At that time Tim knew the struggles Dave would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Arnold was struggling then the little guys, like Dave, were going to be in even more trouble. But, maybe the answer for both of them was in freight factoring, and Tim was going to find out very soon.Some months later, having successfully gone through the entire process of the application, having experts study his credit history and statements and review his accounts receivable, Tim found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They used that time to refocus their efforts in being competitive in new territories. Tim looked back on the dismal months of life before freight factoring and almost shuddered at the thought. If Tim hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

"

Cleveland is the second-largest city in Ohio and the seat of Cuyahoga County. It is located in the northeast part of the state on Lake Erie. In the colonial era, the Cleveland area was known as the Connecticut Western Reserve, part of a land grant made to Connecticut by King Charles II in 1662. The city was founded in 1796 by Gen. Moses Cleaveland, who was the head surveyor of the Connecticut Land Company. This company had bought 3 million acres in what is now northern Ohio. A permanent settlement was founded in 1799, named after the general, and the spelling was shortened to Cleveland. The city was incorporated in 1836.Cleveland's industrial growth was stimulated by the opening of the Ohio and Erie canals in 1832 and, later, by the advent of the Civil War, with the increasing demand for machinery, railroad equipment, ships, and other items. Today, the port of Cleveland is the largest overseas general cargo port on Lake Erie. Greater Cleveland has long been famous as a durable goods manufacturing area. Following the national trend, however, Cleveland has been shifting to a more services-based economy. Greater Cleveland is a world corporate center for leading national and multinational companies in industries ranging from transportation, insurance, retailing, and utilities, to commercial banking and finance.The city's cultural attractions include the Cleveland Museum of Art and the Cleveland Orchestra, one of the country's most highly acclaimed symphony orchestras. Jacobs Field, a major league ballpark, and the Rock & Roll Hall of Fame also draw thousands of visitors to the cityCleveland's geographic location on the Cuyahoga River and Lake Erie has been key to its growth. The Ohio and Erie Canal coupled with rail links helped establish the city as an important business center. Steel and many other manufactured goods emerged as leading industries.The city diversified its economy in addition to its manufacturing sector.In 2007, Cleveland's commercial real estate market experienced rebound with a record pace of purchases, with a housing vacancy of 10%. Downtown Cleveland from the Superior Viaduct.The Cleveland Clinic is the city's largest private employer with a workforce of over 37,000 as of 2008. It carries the distinction as being among America's best hospitals with top ratings published in & World Report. Cleveland's healthcare sector includes University Hospitals of Cleveland, a renowned center for cancer treatment, and MetroHealth medical center. Cleveland is also noted in the fields of biotechnology and fuel cell research, led by Case Western Reserve University, the Cleveland Clinic, and University Hospitals of Cleveland. Cleveland is among the top recipients of investment for biotech start- and research. Case Western Reserve, the Clinic, and University Hospitals have recently announced plans to build a large biotechnology research center and incubator on the site of the former Mt. Sinai Medical Center, creating a research campus to stimulate biotech startup companies that can be spun off from research conducted in the city. NASA's Glenn Research Center is adjacent to Cleveland Hopkins International Airport.City leaders promoted growth of the technology sector in the first decade of the 21st century. Mayor l appointed a ""tech czar"" to recruit technology companies to the downtown office market, offering connections to the high-speed fiber networks that run underneath downtown streets in several ""high-tech offices"" focused on the Euclid Avenue area. Cleveland State University hired a technology transfer officer to cultivate technology transfers from CSU research to marketable ideas and companies in the Cleveland area, and appointed a vice president for economic development. Case Western Reserve University participated in technology initiatives such as the OneCommunity project, a high-speed fiber optic network linking the area's research centers intended to stimulate growth. In mid-2005, Cleveland was named an Intel ""Worldwide Digital Community"" along with Corpus Christi, Texas, Philadelphia, Pennsylvania, and Taipei. This added about $12 million for marketing to expand regional technology partnerships, created a city-wide Wi-Fi network, and developed a tech economy. In addition to this Intel initiative, in January 2006 a New York-based think tank, the Intelligent Community Forum, selected Cleveland as the sole American city among its seven finalists for the ""Intelligent Community of the Year"" award. The group announced that it nominated the city for its OneCommunity network with potential broadband applications. OneCommunity collaborated with Cisco Systems to deploy a wireless network starting in September 2006

 

"

 

More Trucking Factoring Companies Story Articles

The Future of a Trucking Company, and Factoring Eddie Morales let the phone ring on his desk. His morning coffee cooled and his cigarette smoked away in the tray: Eddie is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Morales Trucking Company was at a turning point of growth and Eddie had to decide if signing with a factoring company was the right way forward.

 

More than forty years ago Eddie's father had started this business working as an owner-operator and eventually growing Morales Trucking Company into a fifteen trailer fleet. There had been some hard times when it seemed everything was going to go under and even Eddie�s mother strapped herself into a cab to make hauls. His father had worked long enough to see the price of hires drop dramatically during the recession and to see the explosion of fuel prices afterwards. But now things were different: the company was in Eddie's hands and he needed to ensure that this business would be left in great shape for his sons.

 

To move Morales 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. 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, Morales Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Eddie 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. His father days were long gone and technology was actually an important improvement for the business such as having Qualcomm to cut down on fruitless time communicating on the phone for bills of lading.

 

Eddie knew he was right in his forward thinking. How would he take Morales Trucking to the next level? More importantly, how could he afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. 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 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 this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Eddie had to really consider what his next step was going to be. Eddie 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 didn�t mind signing an exclusive contract. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. Many companies offered a non-recourse factoring program that suited him just fine. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It sounded like a great scheme to him.

 

It was really refreshing dealing with the factoring people. They were extremely helpful and more personable than the bank staff. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies were not interested in his credit nor the financial problems his father had experienced in the past. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Eddie 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 Morales 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.

 

Eddie stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. He suddenly realized that, with this new cash flow, he could actually expand Morales 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.

 

 

 

Watch Our Factoring Video For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� Oscar Diaz asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Oscar smiled at him, shaking her head.�No, not exactly,� she said.Oscar Diaz owned a small trucking company, and his business had recently fallen on difficult times. Trucking could be a profitable business, and for a little under a decade, it had been for Seth. He named his business Harper Trucking, named after Nathaniel and Adrian, his two grandfathers. They had both been hardworking men, and had done a lot to make Oscar the same.Six months ago disaster struck Seth's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. The financial security of Seth'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.

 

Waiting a month or longer for bills to be paid was quite normal. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Oscar 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.And that's why he found himself across the desk from this woman. Her name was Edith and she worked for a factoring company. Oscar 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.Oscar nodded. It sounded good to him, almost too good.Edith laughed. �You look like you don�t believe me,� she said.�No, I do, I just think it sounds a bit too good to be true. I actually thought I might end up losing my business.�Edith nodded. �Yes, we get a lot of that. There's no way we want to see you lose your business. You work hard, you�ve put everything you can into it. Sometimes you need help. That�s what we�re here for.""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 Edith with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Oscar completed the form, with Edith offering advice as needed.

 

The completed profile gave Edith and her company all the information they needed on Seth's business, and with this information they would determine if this business would in fact be suitable for Factoring. Unfortunately, not all companies are. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. Listening as Oscar filled out his form, Edith was pretty sure he was a perfect candidate for factoring.Edith took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Seth's hand. He also stood up, and they smiled at each other. They said their goodbyes and Oscar 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 Edith 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 terrifying panic attacks that occurred regardless of where he was. Already he could feel all the stress start to drain away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.His mind wandered back to the very beginning, when he first started his business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been successful. Offering home cooking in his own hometown, his business had really prospered.But he had gotten bored. His passion didn�t lie with the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took six months off, and during that time he decided to create Harper Trucking. And that's exactly what he did. For the second time in his short life he created a company from the ground up. The business had been an instant success.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was about to turn fifty. He was concerned that he just did not have the energy left to try and save the business. But he couldn�t give up. Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He 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. Oscar opened his eyes, sat forward, turned his computer on. He had lots to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

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More Trucking Factoring Company Story Articles

Why Truck Companies Use Factoring Companies.

 

As the operator of your own establishment, you may likely be more than perceptive already of the hardship in making sure that capital matters do not become a difficulty down the line. After all, the worst thing that can quite possibly transpire for your company is to find yourself embroiled in a long and perplexing predicament that leaves you forever trying to find the funds you necessitate on an on-going basis.

 

For just about any company in this situation, the complication can come for waiting for work to clear up and actually be paid out into your account. Statements, checks, and the like can take some time to actually to be taken care of which can leave you with temporary capital problems. Thank goodness, there are approaches out there for businesses to consider-- and just one of these is factoring companies.

 

Factoring firms will, in substitution for your bill of sales, give you with the resources today to ensure that you do not have to fret about the lingering duration which could make paying off the expenses and obtaining toolsmore challenging. With this type of setup, invoice factoring can come to be extremely valuable for various companies who need to get out of a cash trap which they have discovered themselves in.

 

Simply because, relying on the size of the work, it can take up to 60 days for several firms to get paid then it is very important to take care of your own back and not leave yourself cash short to pay the expenses. After all, how many enterprises possess two months revenue just lying there to pay for all their bills until they earn?

 

This is particularly true of trucking enterprises. They often take care of lots of invoices which means a huge volume of collection period concerns business owner themselves. Seeking to get paid in time can turn into an amazing inconvenience and this is precisely why you utilize trucking factoring firms who are glad to help out truckers exclusively.

 

As most of us recognize, trucking is an remarkably huge industry with a lot of agencies out there working with hundreds of operators. However, numerous of these drivers wind up in income problems considering that they are still waiting on work from six weeks ago to actually compensate them. When this is the condition for a truck company, consulting factoring providers for help could be the most effective choice left.

 

This implies that a truck business can pay the wages of the crew, keep all the cars filled with gas and continue to escalate, develop and expand without consistently waiting for the resources which is taking too lengthy to come in. Trucking Businesses working without a factoring program implemented are leaving themselves at notable danger, as competitors cash out quickly and proceed to broaden.

 

There's genuinely nothing to be stressed about when it comes to making use of a Factoring agency-- they commonly are not like a banking company or a person who is going to leave you with a substantial stack of financial obligation to pay back. You give them genuine invoices from job you have already wrapped up , you are just facilitating the repayment system.

 

In the United States, where trucking companies survive, factoring providers are not considered accepting loan of in any capacity. This confidential contract then makes it possible for both parties to benefit and enjoy a good future-- it provides the factoring business a warranted asset of revenue to add to the list and it provides the trucking company the required finances that they sweated to acquire.

 

The trucking establishment provides their accounts to the factoring establishment. The trucking factoring firm then collect the payment amounts from the trucking company's clients. Factoring has been all around for hundreds of years and has been adopted for several years by several diverse markets-- but none exceeding so than truckers. While you may lose out on a small part of the money, something like 1-3 % depending upon who you work with, it signifies that you are receiving the cash today and can actually start putting the money to function.

 

Anyway, an IOU or an invoice is not actually going to cover costs, is it? For trucking establishments when the finances can be excellent 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 notable quantity of time and money to get through the week up until they are paid for again.

 

So the next period your trucking company is enduring some temporary capital challenges and you are investing too much time chasing slow paying clients, why not start off considering using a factoring businesses as a way to get your finances and give yourself a more worry-free future in the eyes of your trucking workers and your bank balance?

 

 

 

 

 

 

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Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. 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.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of 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. 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. 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. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.Interest is Paid Up Front. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you do not have to continue to pay interest as they take it right off the top, deducting it from the total amount of accounts receivable. So you do not have to worry about monthly loan repayments, and you do not have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. 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.A Trucking Factoring company is not the only method of gaining access to finance for the running and growing of your business, however it does offer a financing option well worth considering.

 

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Factoring Companies by City

New York City

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Dallas


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Jacksonville


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Charlotte


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Boston


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Portland


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Colorado Springs


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Newark

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Jersey

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Gilbert town

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