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The Secrets of Making People Like You Get - Our Freight Factoring Companies Can Give
Your Freight Company The Cash You Want

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factoring trucking receivables

factoring trucking industry

best trucking factoring company

trucking invoice factoring companies

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

 

 

 

 

 

 

 

I liked this product so much - that I  - Choose A Freight�Factoring Company  Instead Of A Regular Bank Funding

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

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

Money flow does not have to be an issue any ever more. Do not be fooled -- banks are not the only places you can get financing. Other solutions are offered and you do not have to borrow. What is truck factoring ? One option is called trucking factoring. Truck Factoring is the process of selling invoices to a financier rather than waiting to collect the cash from the client. Oh, the Irony- Truck factoring has an ironic difference: It is the financial foundation of numerous of America's most effective companies. Why is this paradoxical ? Since receivable financing is not instructed in business colleges, is seldom discussed in business strategies and is fairly unknown to the majority of most of American company individuals.

Yet it is a financial procedure that releases up billions of dollars every year, enabling countless businesses to grow and prosper. Trucking Factoring has been around for countless years. Accounts Receivable Factoring Companies are investors who pay cash for the right to get the future payments on your invoices. An overdue receivable or invoice has value. It is a debt your customer has actually to pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business transactions, a large portion of the retail company utilizes a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail transactions. Using the purest definition of the word, these big customer finance companies are really just big Receivable Loan Funding Companies of customer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The store makes money almost immediately, although you do not pay up until you are prepared.

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

Receivable Loan Funding offers the ways for a manufacturer to replenish inventory and make even more items to offer: There is no longer a requirement to wait for earlier sales to be paid. Receivable Loan Financing is not just a cash management tool for manufacturers: Almost any kind company can benefit from 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 bill or today s payroll with a client s invoice, however you can sell that invoice for the money to meet those obligations. Using truck factoring companies is a quick and easy procedure. The factoring company purchases the invoice at a price cut, usually a few percentage points less than the face value of the invoice.

 

 

Please call our
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1 - 888-239-9162
or

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cincinnati-factoring-companies

 

The American Trucking Organization
states that there are about
205,000 truck drivers with truck
firms and
250,000 personal companies trucking
companies certified to
run in the States that transferred,
according to their most current listings of millions of
products, materials and
standard materials .
There are a number of common
providers either going solo or in
groups on our country
roadways transporting these
vital items to our
stores, manufacturingplants and ports.

Also trucking factoring
corporations service
many of them and offer their
receivables financing facilities
nationwidecomprising
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

 

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Many major and diverse corporations have their head offices in Cincinnati, .The Cincinnati area is also home to .Altogether, nine Fortune 500 companies and fifteen Fortune 1000 companies have headquarters in the Cincinnati area. With nine Fortune 500 company headquarters in Cincinnati, the region ranks in the United States Top 10 markets for number of Fortune 500 headquarters per million residents, higher than New York, Boston, Chicago or Los Angeles. In addition to Fortune 500 headquarters, 400 Fortune 500 companies have a presence in Cincinnati. Cincinnati has three Fortune Global 500 companies; three of the five Global 500 companies in the state of Ohio.The largest employer in Cincinnati, Kroger, has 17,000 employees. The University of Cincinnati is the second largest, with 15,162 employees.Cincinnati (sins?nat'e, �nat'?) [key], city (1990 pop. 364,040), seat of Hamilton co., extreme SW Ohio, on the Ohio River opposite Newport and Covington, Ky.; inc. as a city 1819. The third largest city in the state, Cincinnati is the industrial, commercial, and cultural center for an extensive area including numerous suburbs in Ohio, Kentucky, and Indiana. It is also a port with a large riverfront and good transportation facilities. Machinery; consumer goods; transportation, electric, and electronic equipment; musical instruments; metal goods; and packaged meats are among its manufactures; banking and finance also are important. Cincinnati was founded in 1788 as Losantiville; in 1790 Arthur St. Clair, the first governor of the Northwest Territory, renamed it for the Society of Cincinnati, a group of Revolutionary War officers. It was the first seat of the legislature of the Northwest Territory. After the opening of the Ohio and Erie Canal (c.1832), the city developed as a shipper of farm products and meat. Built on and below ""seven hills,"" it became known for its German-iuenced cultural life. Corruption, crime, and unrest plagued late-19th-century Cincinnati; a reform movement culminated in the establishment (1924) of the city-manager type of government (notable managers were Clarence A. Dykstra and Clarence O. Sherrill). Disastrous flooding struck the city in 1884 and again in 1937, after which major flood-control projects were undertaken. In the 21st cent. the city's downtown and riverfront has undergone a revitalization, with the construction of new business and residential buildings and park facilities.William Howard Taft and his son Robert A. Taft were born here. Cincinnati's landmarks include the Taft Museum; Eden Park, with the Cincinnati Art Museum; the Cincinnati Museum Center in the former Union Terminal; and the Rosenthal Center for Contemporary Art. The Univ. of Cincinnati, Edgecliff College, Xavier Univ., and several other educational institutions are in Cincinnati. The city is home to the Cincinnati Reds, the nation's oldest professional baseball team, and the Bengals football team.

 

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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:

Searching for the right trucking companies to move your freight can be tough, with the large amount of local, regional, and national truck carriers out there. Center helps make freight shipping simple, finding you the safest, reliable trucking companies every time you ship. Trucking companies are licensed and insured to carry freight safely and efficiently across the country, no matter the size or type of freight you need to ship.Plus, with the high volume of freight we move, we will work to get you the best freight rates possible. Simply enter in a few details below and you�ll see instant freight rates from all the top trucking companies in one easy screen

 

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

 

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

 

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

 

 

"

Hicks Truck & Haul have been operating their business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the boom times from 2002 to 2007 Hicks Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. Cash was flowing and times were good for all.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 down. Worse still, it was noticed by Hicks in early 2008 that even though most of their loyal customers were on time with their payments, there were a few late bloomers who were starting to spread the disease. And as spring turmed to summer and summer into the early days of fall, Frederick Barnett, CEO of Hicks 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? When checking his bookkeeper's records this was definitely not the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. They could not afford to pay him their debt, but they could afford a lesser service, maybe. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Hicks hadn't gone elsewhere. They had just gone home.The situation looked dire to Frederick Barnett. 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, Monica, and still find no relief from the worry and frustration.

 

""I have a bad feeling, Lin,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would ask.Frederick would stare off into the distance, and then slowly close his eyes. He could see the fleet of trucks he had purchased over the years. He could see them on the road, delivering good to all his loyal customers. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What on earth was happening to create the death of his business?""I know what it is,"" said Frederick. ""For way too long I've been relying solely on profits received from invoices. 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.

 

""Frederick knew very well that Monica 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 Frederick strolled into his office and was determined to sit down and make every phone call to every client who had owed Hicks money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Frederick 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. 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 Frederick was realising just how much trouble he was in.Poor Frederick 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.

 

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

 

""Of course Tamara, please come in."" Frederick relaxed back into his chair and looked up at Tamaraerley.""Well Frederick, this afternoon I did some research, trying to work out how we are going to get out of this mess."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard the word factoring?"" she asked.""It sounds vaguely familiar. What is it?"" he said.""Well,"" she began, ""It�s actually quite simple really.

 

Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Frederick interrupted ""Immediately?"".""Immediately, yes"" she added, ""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.. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It�s a broad view.""I see,� Frederick said. �And then what?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. There�s a lot of flexibility depending on the business volume and credit histories. The company will advise us the cost to purchase factoring for our company's accounts receivable. Once we arrive at a mutual agreement, the funding begins.�Leaning forward, Frederick studied the documents very closely.""I do not know, Tamara - it just sounds too good to be true"", Frederick said quietly.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Frederick: they've guaranteed that experts will do all the paperwork, and that will free us up to do what we should be doing - focusing on our customers in good standing, and that kind of stuff. They appear to be very flexible, Frederick,"" she drew a circle around a paragraph on the document before him.""Just 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. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" Frederick said.He took a deep breath and looked at his secretary with something she recognized as hope.""Precisely�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Frederick took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Hicks Truck & Haul were professional resources of the company, but they were also long-standing friends. They did not want to throw away these relationships because they were having trouble paying their bills now. Frederick knew only too well that the whole economy was floundering, and that it was not going to change overnight. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. Of course he did not want to lose any more money, but he did not want to lose business either.""Well, let me think about this tonight Tamara, thank you."" Tamara stood up and left Frederick's office, with the nice feeling of knowing that she may just have solved a very serious problem.Frederick stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. What other issues could freight factoring help Hicks with? Running his pencil down the sheet, he noted that the freight factoring company could assist with fuel costs, fuel advances, and fuel discount cards. Frederick was surprised: it said that his company could get up to fifty percent cash advances on load pickups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""Well, I'll have to tell Kirk about this,"" Frederick muttered to himself.Frederick's son-in-law, Kirk, loved the idea behind Hicks 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 Frederick knew the struggles Kirk would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Hicks was hurting, a little guy like Kirk was about to catch his death. Perhaps the antidote to these problems was in freight factoring, and they were about to find out.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Frederick 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 used that time to refocus their efforts in being competitive in new territories. Frederick 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.

 

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Many major and diverse corporations have their head offices in Cincinnati, .The Cincinnati area is also home to .Altogether, nine Fortune 500 companies and fifteen Fortune 1000 companies have headquarters in the Cincinnati area. With nine Fortune 500 company headquarters in Cincinnati, the region ranks in the United States Top 10 markets for number of Fortune 500 headquarters per million residents, higher than New York, Boston, Chicago or Los Angeles. In addition to Fortune 500 headquarters, 400 Fortune 500 companies have a presence in Cincinnati. Cincinnati has three Fortune Global 500 companies; three of the five Global 500 companies in the state of Ohio.The largest employer in Cincinnati, Kroger, has 17,000 employees. The University of Cincinnati is the second largest, with 15,162 employees.Cincinnati (sins?nat'e, �nat'?) [key], city (1990 pop. 364,040), seat of Hamilton co., extreme SW Ohio, on the Ohio River opposite Newport and Covington, Ky.; inc. as a city 1819. The third largest city in the state, Cincinnati is the industrial, commercial, and cultural center for an extensive area including numerous suburbs in Ohio, Kentucky, and Indiana. It is also a port with a large riverfront and good transportation facilities. Machinery; consumer goods; transportation, electric, and electronic equipment; musical instruments; metal goods; and packaged meats are among its manufactures; banking and finance also are important. Cincinnati was founded in 1788 as Losantiville; in 1790 Arthur St. Clair, the first governor of the Northwest Territory, renamed it for the Society of Cincinnati, a group of Revolutionary War officers. It was the first seat of the legislature of the Northwest Territory. After the opening of the Ohio and Erie Canal (c.1832), the city developed as a shipper of farm products and meat. Built on and below ""seven hills,"" it became known for its German-iuenced cultural life. Corruption, crime, and unrest plagued late-19th-century Cincinnati; a reform movement culminated in the establishment (1924) of the city-manager type of government (notable managers were Clarence A. Dykstra and Clarence O. Sherrill). Disastrous flooding struck the city in 1884 and again in 1937, after which major flood-control projects were undertaken. In the 21st cent. the city's downtown and riverfront has undergone a revitalization, with the construction of new business and residential buildings and park facilities.William Howard Taft and his son Robert A. Taft were born here. Cincinnati's landmarks include the Taft Museum; Eden Park, with the Cincinnati Art Museum; the Cincinnati Museum Center in the former Union Terminal; and the Rosenthal Center for Contemporary Art. The Univ. of Cincinnati, Edgecliff College, Xavier Univ., and several other educational institutions are in Cincinnati. The city is home to the Cincinnati Reds, the nation's oldest professional baseball team, and the Bengals football team.

 

"

 

More Trucking Factoring Companies Story Articles

"

Factoring in the Future of a Trucking Business: A Story Juan Sanchez let the phone ring on his desk. He let his morning coffee cool and left his cigarette to ash itself in the tray, because he is trying to make the biggest decision ever for his trucking company. Sanchez 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.

 

More than forty years ago Juan's father had started this business working as an owner-operator and eventually growing Sanchez Trucking Company into a fifteen trailer fleet. Yes, they had survived some very difficult times when it appeared like they might go under, and even Juan's mother had jumped into the cab at times to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. Now the company was solely in Juan�s hands and he wanted to live to see it in better shape for his sons.

 

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

 

His father would have told him to wait and to take his time adding on new technology. Juan chuckled, thinking about his father. He remembered when his father was totally against installing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. 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.

 

Juan believed a successful man is always thinking of his next step. What would be the next step for Sanchez Trucking? And how would he be able to afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

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

 

Now it was time for Juan to do his homework. Juan 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. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

However, it all turned out to be very simple. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He was quite happy to sign an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. Many companies offered a non-recourse factoring program that suited him just fine. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It was good money.

 

It was really refreshing dealing with the factoring people. They were extremely helpful and more personable than the bank staff. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies didn�t worry over his credit and the debt troubles his father had had in the past of the company. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Juan because he and his father had created a very strong and loyal list of clientele over the years. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients wouldn�t think poorly of Sanchez 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.

 

Juan 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 Sanchez 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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View Our Factoring Video For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� asked Christopher Wood, reclining back into his chair and crossing his legs. The woman sitting across the desk from Christopher smiled at him, shaking her head.�No, not exactly,� she stated.Christopher Wood 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 Chad. His company was called Oliver Trucking, named after both of his grandfathers, Darryl and Corey. Both of these men had been very hardworking and had set a great example for Chad.Six months ago disaster struck Chad'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. Christopher depended on his full fleet, and missing two trucks was devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Christopher had on hand.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

Waiting a month or longer for bills to be paid was quite normal. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Christopher 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. Her name was Mildred and she worked for a factoring company. He had accidentally come across her company one night when he was working late, searching the internet to see if there was some solution to his financial dilemma.She sat there now, and explained. �It�s not a loan, we purchase your accounts receivable. we are not giving you finance to be repaid later: we are purchasing something from you, and when you can you can buy it back. That way we�re protected from a complete loss, but you�re protected from the outrageous fees you would find in a loan from the bank.Christopher nodded. It sounded good to him, almost too good.The woman laughed. �You look like you don�t believe me,� she chuckled.�Oh no, I do: it just sounds too good to be true. I actually thought I might end up losing my business.�Mildred nodded. �We get that a lot. Listen, I�d hate to see you lose your company. You work hard, you�ve put everything you can into it. We all need help sometimes. That's why we do what we do.""Well, I'm very grateful that you came to see me today.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� Mildred said with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Christopher filled the form out, with Mildred available to help him if he needed it. The completed profile gave Mildred and her company all the information they needed on Chad'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. As Christopher completed his form, Mildred listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Mildred took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Chad's hand. He also stood up, and they smiled at each other. They said their goodbyes and Christopher walked her to the door, and then returned to his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He 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. But now, after speaking to Mildred and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.All those long, sleepless nights. The sudden panic attacks, not matter where he was. He could feel it all fading 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 really successful. Offering home cooking in his own hometown, his business had really prospered.But he had gotten bored. He wasn't passionate about the food industry. He thought 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 Oliver Trucking. And that's exactly what he did. For the second time in his short life he created a company from the ground up. He had been successful.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was nearing fifty. He was concerned that he just did not have the energy left to try and save the business. But giving up wasn't part of his personality either.

 

Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He didn�t know how to say quit.And now it seemed as though he would not have to - all because of Factoring. Christopher opened his eyes, sat forward, turned his computer on. He had lots to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

Precisely why Truck Firms Utilize Factoring Firms.

 

As the manager of your own business, you may well be much more than perceptive already of the hardship in making certain that cash flow concerns do not become a problem down the line. Anyway, the most terrible thing that can in all probability take place for your business is to find yourself embroiled in a long and tough predicament that leaves you forever trying to find the resources you necessitate on an continuing basis.

 

For just about any business in this scenario, the trouble can come for waiting for work to lapse and actually be repaid into your account. Invoices, checks, and the like can take some time to actually to be taken care of which can certainly leave you with temporary cash flow difficulties. The good news is, there are alternatives out there for industries to examine-- and just one of these is factoring agencies.

 

Factoring agencies will, in trade for your invoices, supply you with the funds now to ensure you do not have to fret about the lingering duration that could make paying off the expenses and obtaining toolsmore hard. With this form of setup, invoice factoring can become extremely valuable for various enterprises who have to get out of a money ploy which they have discovered themselves in.

 

Considering that, depending upon the size of the task, it can take up to 60 days for some businesses to get compensated then it is very important to blanket your own back and certainly not leave yourself money short to settle the monthly bills. After all, how many companies have two months cash flow just lying there to cover all their overheads until they earn?

 

This is primarily true of truck establishments. They often tend to handle lots of statements which means a huge quantity of collection time concerns company owner themselves. Trying to get paid promptly can end up being an amazing struggle and this is precisely why you make use of truck factoring providers who are happy to help out truckers exclusively.

 

As all of us realize, trucking is an astonishingly enormous market with many companies out there handling hundreds of operators. Regretfully, several of these drivers wind up in income difficulties since they are still waiting on work from six weeks previously to actually pay them. When this is the circumstance for a truck business, turning to factoring agencies for help might be the very best alternative left.

 

This means that a trucking business can pay off the paychecks of the workers, keep all the vehicles refilled with gas and continue to escalate, progress and expand without consistently waiting for the cash which is taking too lengthy to come in. Trucking Firms running without a factoring system implemented are leaving themselves at notable threat, as competitions cash out promptly and continue to broaden.

 

There's genuinely very little to be stressed about when it comes to utilizing a Factoring establishment-- they usually are not like a bank or someone who is going to leave you with a large mound of liability to pay back. You give them genuine invoices from job you have already accomplished , you are only facilitating the repayment system.

 

In the United states of America, where trucking establishments succeed, factoring enterprises are not considered taking on loan in any capacity. This private agreement then allows both parties to benefit and experience a worry-free future-- it gives the factoring provider a secured resource of profit to add to the list and it furnishes the trucking business the required finances that they sweated to obtain.

 

The trucking establishment provides their statements to the factoring company. The trucking factoring agency then collect the payment amounts from the trucking company's customers. Factoring has been all around for centuries and has been used for decades by plenty of diverse fields-- but none more so than truckers. While you might lose out on a small part of the money, something like 1-3 % depending upon who you partner with, it implies that you are receiving the resources today and can actually begin putting the resources to operate.

 

Anyway, an IOU or an invoice is not going to cover bills, is it? For trucking companies when the income can be excellent one day and gone the next, it is up to the drivers to work smartly and to ensure they are leaving themselves with a substantial amount of time and finance to get through the week till they are paid once again.

 

So the next occasion your trucking company is having some momentary cash flow problems and you are putting in a lot of time chasing sluggish paying customers, why not start taking into consideration making use of a factoring companies as a way to get your money and give yourself a more convenient future in the eyes of your trucking team and your bank dividend?

 

 

 

 

 

 

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Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. While these loans are handy they are not available to every business. 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. Once the loan is paid off, you can then apply for another loan if the need arises.

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies do not offer loans, and you do not go into debt when you get money from a Trucking Factoring company. 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 you have set up Trucking Factoring account it continues as long as you wish it too and the amount of money available to you even can grow as your business grows, giving you the ready cash you need to meet your own obligations.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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

 

1. You will not Incur Debt. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. 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. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. No Collateral Required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

3. Receive Your Money Faster. Using a Trucking Factoring company means that you'll get the finance quicker. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

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

 

As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very efficient at debt collecting, and this frees up your valuable time to devote to running your company.

 

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

 

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Factoring Companies by City

New York City

Los Angeles


Chicago


Houston


Philadelphia


Phoenix


San Antonio


San Diego


Dallas


San Jose

Austin


Jacksonville


Indianapolis


San Francisco


Columbus


Fort Worth


Charlotte


Detroit


El Paso


Memphis

 

 

Boston


Seattle


Denver


Washington DC


Nashville-Davidson


Baltimore


Louisville/Jefferson


Portland


Oklahoma City


Milwaukee


Las Vegas


Albuquerque


Tucson


Fresno


Sacramento


Long Beach


Kansas City


Mesa


Virginia Beach


Atlanta

 

Colorado Springs


Raleigh


Omaha


Miami


Oakland


Tulsa


Minneapolis


Cleveland


Wichita


Arlington

 

New Orleans

Bakersfield

Tampa

Honolulu

Anaheim

Aurora

Santa Ana

St. Louis

Riverside

Corpus Christi

Pittsburgh

Lexington Fayette

Anchorage

Stockton

Cincinnati

St. Paul

Toledo


Newark

Greensboro

Plano

Henderson

Lincoln

Buffalo

Fort Wayne

Jersey

Chula Vista

Orlando

St. Petersburg

Norfolk

Chandler

Laredo

Madison

Durham

Lubbock

Winston Salem

Garland

Glendale

Hialeah

Reno

Baton Rouge

Irvine

Chesapeake

Irving

Scottsdale

North Las Vegas

Fremont

Gilbert town

San Bernardino

Boise

Birmingham

Rochester

Richmond

Spokane

Des Moines

 

 

 

 

 

Philadelphia

 

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