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Little Cash Flow Leaks That Keep Companies Poor - Our Invoice Factoring Company Can Provide Your Freight Company The Money You Need


at medicalaccountsreceivable.org

and Corpus-Christi-Invoice-Factoring-Companies.medicalaccountsreceivable.org.

trucking factoring companies reviews trucking invoice factoring companies truck factoring definition freight factoring companies california

 

Factoring invoices is helpful for numerous reasons. It permits a trucking business to raise money without getting new debt. While financial obligation is occasionally essential, many trucking companies would like to raise cash without obtaining cash. Financial obligation is risky, and when it can not be paid back, properties can be repossessed. If the financial obligation is big enough, it may even force a freight broker firm out of business.

 

Cash For Companies. Tell Us What You Want - Select An Accounts Receivable Factoring Company Instead Of A Regular Bank Financing

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

At one time or another, every business, even effective ones, have experienced bad 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 money. Exactly what is trucking factoring ? One solution is called truck factoring. Trucking Factoring is the process of selling accounts receivable to an investor rather than waiting to collect the money from the customer. Oh, the Irony- Truck factoring has a paradoxical difference: It is the monetary foundation of numerous of America's most successful businesses. Why is this paradoxical ? Since receivable loan funding is not taught in business colleges, is rarely mentioned in business plans and is fairly unknown to bulk of most of American company people.

Yet it is a financial process that frees billions of dollars every year, allowing countless companies to grow and succeed. Trucking Factoring has been around for countless years. Receivable Financing Companies are financiers who pay cash for the right to get the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your customer has agreed pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business transactions, a large percentage of the retail business uses a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail deals. Using the purest meaning of the word, these large consumer finance companies are truly simply big Commercial Factoring Companies of customer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The shop makes money almost immediately, although you do not pay up until you are ready.

For this service, the charge card business charges Sears a charge (typical common normal charges range from 2 to 4 percent of the sale). The Advantages Accounts Receivable Factoring can provide numerous benefits to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on an item that has actually already been delivered, a company can factor (sell) its receivables for money at a little discount off the amount of the invoice. Payroll, advertising efforts, and working capital are simply a few of the business needs that can be satisfied with instant  money.

Commercial Factoring provides the means for a producer to replenish stock and make even more items to offer: There is no longer a requirement to await for earlier sales to be paid. Receivable Loan Financing is not just a cash management device for producers: Almost any type company can take advantage of Accounts Receivable Factoring. Typically, a company that extends credit will have 10 to 20 percent of its yearly sales tied up in accounts receivable at any given time. Think for a moment about how much is bound in 60 days' worth of invoices: You can not pay the power expense or today s payroll with a customer s invoice, however you can sell that invoice for the money to meet those obligations. Using trucking factoring companies is a fast and simple procedure. The factor purchases the invoice at a discount, typically a couple of portion points less than the face value of the invoice.

 

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The American Truck Organization specifies that there are about 205,000  truck drivers with freight trucking firms and 300,000 personal providers trucking companies certified to operate in America that  transported, according to their latest data of millions  products, supplies and fundamental materials . There are several  usual providers either going solo or in teams on our country highways carrying these crucial items to our shops, factories and ports.

And truck factoring businesses benefit several of them and offer their accounts receivablesfinancing facilities nationally comprising 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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Oilfield services Factoring Company Calculator
This calculator will show you how much you will make by using our Oilfield services Factoring company . But, as your about to discover, you will certainly notice the increased cash flow that will occur when you use our Oilfield services Factoring company
Enter the principal balance of your Oilfield services Factoring company
(call your Oilfield services Factoring company lender and ask for the current payoff amount):
Enter the amount of your monthly Oilfield services Factoring company payment:
(invoice amount):
Enter the your Oilfield services Factoring company's current interest rate:

EveryTruckJob.com 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 andbenefits 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.

 

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. FreightCenter helps make freight shipping simple, finding you the safest, reliable trucking companies every time you ship. Our trucking companies are licensed and insured to carry freight safely and efficiently across the country, no matter the size or type of freight you need to ship.Plus, with the high volume of freight we move, we will work to get you the best freight rates possible. Simply enter in a few details below and you�ll see instant freight rates from all the top trucking companies in one easy screen

 

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

 

Searching for the right trucking companies to move your freight can be tough, with the large amount of local, regional, and national truck carriers out there. FreightCenter helps make freight shipping simple, finding you the safest, reliable trucking companies every time you ship. Our 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

 

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 JOC Top 50 Trucking Companies list, based on data prepared by SJ Consulting Group in Pittsburgh.

 

 

 

 

 

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Corpus Christi is a coastal city in the South Texas region of the U.S. state of Texas. The county seat of Nueces County,[4] it also extends into Aransas, Kleberg, and San Patricio counties. The metropolitan area US Census estimated population in 2013, was 442,600.[1] The population was 316,381 at the 2013 US Census estimate, making it the eighth most populous city in the state of Texas. It is the principal city of the tri-county Corpus Christi metropolitan area, as well as the larger six county Corpus Christi-Kingsville-Alice Combined Statistical Area, with a 2013 Census estimate at 516,793. The translation from Latin of the city's name (Corpus Christi) means Body of Christ. The name was given to the settlement and surrounding bay by Spanish explorer Alonso �lvarez de Pineda in 1519, when he discovered the lush semi-tropical bay on the feast day celebrating the ""Body of Christ."" The city has the nicknames ""Texas Riviera"" and ""Sparkling City by the Sea"", particularly in literature promoting tourism.The city is home to the Port of Corpus Christi, the fifth largest in the United States, and is served by the Corpus Christi International Airport.The majority of the population is employed in the Services, Wholesale and Retail Trades and Government sectors. Corpus Christi has an unemployment rate of 7.0% as of July 2012.[11]The Port of Corpus Christi, which is the fifth largest U.S. port[12] and deepest inshore port on the Gulf of Mexico, handles mostly oil and agricultural products. Much of the local economy is driven by tourism and the oil & petrochemicals industry. In 2005, the Port was ranked as the 47th largest in the world by cargo tonnage.Corpus Christi is home to two installations of the United States military: the Corpus Christi Army Depot, and Naval Air Station Corpus Christi. Combined, these installations provide 6,200 civilian jobs to the local economy, making them the single largest employer in the city. Corpus Christi Army Depot, located on NAS Corpus Christi, is the largest helicopter repair facility in the world.[6] A third military installation, also located on NAS Corpus Christi, is the United States Coast Guard Sector/Air Station Corpus Christi.Corpus Christi is the original home of the headquarters of Whataburger, a fast food restaurant operator and franchiser with 650 stores in ten states and Mexico; however, the company relocated its headquarters to San Antonio in 2009. Other large employers include CHRISTUS Spohn Health System at 5,400 local employees, the Corpus Christi Independent School District with 5,178, H-E-B at 5,000, and Bay Ltd. at 2,100.[13] Other companies based in Corpus Christi include Stripes Convenience Stores and AEP Texas.[14][15]Corpus Christi became the first major city to offer city wide free wi-fi[when?] in order to allow remote meter reading after a meter reader was attacked by a dog. In 2007, the network was purchased by Earthlink for $5.5 million, and stopped being a free service on May 31, 2007Corpus Christi (k�r'p?s kris'te) [key], city (1990 pop. 257,453), seat of Nueces co., S Tex.; inc. 1852. It is a port on Corpus Christi Bay at the entrance to Nueces Bay (at the mouth of the Nueces River). The city is an oil and gas center, with refineries, smelters, chemical works, and food-processing plants, as well as large seafood, fishing, and health-care industries. Sports-fishing facilities, beaches, and a mild climate make Corpus Christi a tourist and convention center, and it is the gateway to Padre Island National Seashore. Tradition holds that the bay was named by the Spanish explorer Alonzo Alvarez de Pineda, who found it on Corpus Christi Day in 1519, but there is evidence that it was named instead by the first settlers, who arrived from the lower Rio Grande valley in the 1760s. In 1839, Col. H. L. Kinney founded a trading post, and traders and adventurers collected in a raffish colony on land claimed by both Texas and Mexico. The small port and terminus for overland wagon-train traffic boomed during the Mexican War. It was briefly captured by the U.S. navy in the Civil War. Corpus Christi developed industrially after the discovery of oil in the area and the completion (1926) of a deepwater channel past Mustang Island.The city has many historical sites and is the seat of Texas A&M Univ.�Corpus Christi. A naval air station is on the southern shore of the bay. The city has suffered from occasional hurricanes; it is partially protected from flooding by a sea wall 12,300 ft (3,749 m) long, built between 1939 and 1941.

 

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Hawkins Truck & Haul have been operating their business since the mid 1980s. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the heady times from 2002 to 2007, Hawkins 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 to a crawl

 

. Worse still, it was noticed by Hawkins 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. Spring changed to summer, summer changed to fall, and the CEO of Hawkins, Bill Peters, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. There was a growing list of clients who now owed them back debt.He had already been to the administrators to ask what the actual problem was. Were they doing things different, or wrong, when it came to collecting overdue accounts? When checking his bookkeeper's records this was definitely not the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. They couldn't afford to pay him their debt, but they could afford a lesser service, maybe. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. The had just gone!.To Bill Peters the situation looked desperate. There were goods to ship, employees to pay, trucks to repair and maintain, and continuous overheads that were very extensive when compared to the funds (or lack of) that were incoming. At night he would speak to his wife Jill and shake his head in frustration.

 

""Lin, I have a really bad feeling,"" he would say with deep woe.""Well, what do you think it is?"" she would say.Bill would stare off into the distance, and then slowly close his eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them on the road, delivering good to all his loyal customers. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What could cause this ultimate death spiral of business?""I think I know what it could be,"" Bill said. ""I've relied too long on the profits I receive from invoices alone. For too long I've been allowing our clients to let their accounts become overdue."" Jill would look at her husband lovingly, and holding his hand would say 'It's such a harsh economy these days and our clients must be having difficulty meeting their responsibilities'.""Jill was trying so hard to support her husband in these worrying times, while Bill was weighed down with the worry of how he was going to handle this situation he found himself in.The next day Bill strolled into his office and was determined to sit down and make every phone call to every client who had owed Hawkins 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. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. A waste of time - a waste of money - he had the best intentions, but all the while Bill was realising just how much trouble he was in.Poor Bill 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.

 

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

 

""Of course Ramona, please come in."" Bill relaxed back into his chair and looked up at Ramonaerley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Bill."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard of factoring?"" Ramonaerley asked.""It sounds vaguely familiar. What is factoring""? he asked.She began, ""Well, it's really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""""Immediately?"" Bill interrupted.""Yes, immediately,"" she continued, ""In a nutshell, it's pretty easy. We can have an expert account manager review our numbers and help us complete 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,� Bill said. �And then what?��Following the completion of their review and once we've 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.�Bill leaned forward and reviewed the paperwork closely.""It sounds too good to be true, Ramona,"" 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, Bill,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" asked Bill.""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're all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" said Bill.He took a deep breath and looked at his secretary with something she recognized as hope.""Exactly�. I think this might just be a way out of the trouble we're in with these folks who owe us money.""Bill 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 Hawkins. Just because they were experiencing difficulties paying their own bills now, Bill was very concerned about losing these relationships. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. Of course he didn't want to lose any more money, but he didn't want to lose business either.""Well, let me think about this tonight Ramona, thank you."" Ramona stood up and left Bill's office, with the nice feeling of knowing that she may just have solved a very serious problem.Bill sat behind his desk and looked over the details Ramona had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Hawkins Truck & Haul with? With his pencil gliding down the sheet he noticed that the factoring company could help fray the cost of fuel with fuel discount cards and fuel advances. Bill was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Bill was a typical business man: he despised binding contracts that didn't allow room to breathe, so he was pleasantly surprised to see that the factoring company didn't require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""Well, I'll have to tell Tony about this,"" muttered Bill to himself.Tony is Bill's son-in-law, and he really admired the ideas behind Hawkins, so much so that only two years before he had started his own transportation service business. Bill knew then what struggles Tony would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Hawkins was struggling then the little guys, like Tony, were going to be in even more trouble. But, an antidote may have been found in freight factoring and Bill was soon to find out.Some months later, having successfully gone through the entire process of the application, having experts study his credit history and statements and review his accounts receivable, Bill found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They took that time and refocused effort to offering competitive prices in new territories. Bill looked back on the dismal months of life before freight factoring and almost shuddered at the thought. Had he missed the boat on this one, he probably wouldn't be in business today.

 

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Factoring in the Future of a Trucking Business: A Story The phone was ringing on his desk, and Jeremy Price just sat there letting it ring. He let his morning coffee cool and left his cigarette to ash itself in the tray, because he is trying to make the biggest decision ever for his trucking company. Price Trucking Company was at a turning point of growth and Jeremy had to decide if signing with a factoring company was the right way forward.

 

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

 

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

 

His father would have told him to wait and to take his time adding on new technology. Jeremy allowed himself a good hard chuckle. His father had been against placing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. He knew his father's days were long gone and new technology was very important for the business, like having Qualcomm to reduce communication time for bills of lading.

 

Jeremy knew he was right in his forward thinking. What would be the next step for Price Trucking? 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. 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 didn't 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. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. During those thirty days the trucking company can't pay its employees and bills with invoices.

 

Jeremy had to really consider what his next step was going to be. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! 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?

 

But it turned out to be quite easy. 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. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. Many companies offered a non-recourse factoring program that suited him just fine. He was more than happy with the figures he was offered in percentage terms on the freight bills. It was good money.

 

It was really refreshing dealing with the factoring people. They were more personable than those loan managers at the bank. 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. Factoring was based on the credit of his customers and on their reliability which worked well for Jeremy because he and his father had built up good strong relationships over decades with their list of clients. So he knew they would understand when the factoring company contacted them for the invoices. His clients wouldn�t think poorly of Price Trucking and the factoring companies appeared capable of handling the accounts receivable in the same polite manner that his father had used over the years.

 

Feeling happier now, Jeremy stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. 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. With the capabilities of this new cash flow, Jeremy could actually expand Price Trucking Company further across the country and perhaps even go international into Canada. His heart felt full knowing his sons wouldn�t have to worry about money because of the right decisions he had made for their trucking business.

 

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Trucking Factoring  Articles

�So, this is not a loan?� Russell Stewart asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Russell smiled at him, shaking her head.�Not quite,� she said.Russell was the owner of a small trucking company which had fallen on some hard times recently. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Greg. His company was called Obrien Trucking, named after both of his grandfathers, Earl and Bobby. They had both been hardworking men, and had done a lot to make Russell the same.Disaster had struck half a year ago, when two trucks in Greg�s fifteen truck fleet went down. 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 Greg's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . In addition, he just didn't have the available cash to buy a new truck, plus repair the other one.A big problem a lot of trucking companies came across was how bills were paid in the industry. 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.Russell was an excellent business man, and he certainly hadn't done anything wrong. Things had happened that he couldn't have predicted, and he had to figure out a way to keep his business from hurting, or even going under.And that's why he found himself across the desk from this woman. Russell knew she was employed by a Factoring company and that her name was Dorothy. 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.Dorothy explained. �It�s not a loan, we purchase your accounts receivable. We're not giving you finance to be repaid later: we're 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.Russell nodded. It sounded perfect - perhaps too good?.Dorothy laughed. �I'm not sure that you 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.�Dorothy smiled, agreeing. �We get that a lot. There's no way we want to see you lose your business. We know how hard you work, and that you've invested everything in your business. Sometimes you need help. That�s what we�re here for.��In any case, thank you for coming to see me.��No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� said Dorothy with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.

 

Russell completed the form, with Dorothy offering advice as needed.

 

The completed profile gave Dorothy and her company all the information they needed on Greg'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 were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. Listening as Russell filled out his form, Dorothy was pretty sure he was a perfect candidate for factoring.When the form was done Dorothy took it and slid it into her briefcase. She then stood, reached across the desk and shook Greg�s hand. He also stood up, and they smiled at each other. Russell walked Dorothy to the door where they said 'Goodbye', then he went back into his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He leaned back and closed his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. But now, after speaking to Dorothy 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.The long nights, where he couldn�t sleep. The terrifying panic attacks that occurred regardless of where he was. Already he could feel all the stress start to drain away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was there, he was on the right path, and he was working to make things right.Russell couldn�t help but think back to when he had first started the business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been successful. Offering home cooking in his own hometown, his business had really prospered.But he had gotten bored. He wasn't passionate about the food industry. He thought long and hard, and then he decided to sell the restaurant. He took half a year off, and in that time he thought to start Obrien Trucking. And that's exactly what he did. Once again he built a company from the ground up. The business had been an instant success.And then the trucks went down, and his success looked to be in flux. He was nearing fifty. He was concerned that he just didn't have the energy left to try and save the business. But giving up wasn't part of his personality either.

 

The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He didn't want to quit - both for himself and for his staff members.And now it seemed as though he wouldn't have to - all because of Factoring. Russell 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.

 

 

 

More Trucking Factoring Company Story Articles

The key reasons why Truck Firms Use Factoring Firms.

 

As the manager of your own firm, you may well be much more than mindful already of the difficulty in making sure that capital concerns do not become a problem down the line. Anyway, the most horrible thing that can potentially come about for your enterprise is to find yourself involved in a long and challenging condition that leaves you forever trying to find the resources you necessitate on an ongoing manner.

 

For any kind of business in this case, the problem can come for waiting for work to clear up and actually be repaid into your bank account. Invoices, checks, and the like can take a long time to actually to be taken care of which could leave you with short-term available resources problems. Fortunately, there are approaches out there for industries to explore-- and one of these is factoring companies.

 

Factoring firms will, in exchange for your bill of sales, offer you with the money immediately to make sure that you don't need to stress over the lingering period that could make paying the expenses and acquiring materialsmore tough. With this type of arrangement, invoice factoring can come to be tremendously useful for numerous firms who need to get out of a money trap which they have gotten themselves in.

 

Due to the fact that, depending on the scale of the job, it can take up to 60 days for a number of business enterprises to get paid then it's crucial to blanket your own back and certainly not leave yourself funds short to settle the bills. After all, how many establishments possess two months cash flow just occupying there to handle all their expenditures till they make money?

 

This is particularly correct of truck firms. They often tend to manage tons of accounts which means a substantial amount of collection time entails company owner themselves. Attempting to get compensated promptly can eventually become an incredible difficulty and this is the key reasons why you use truck factoring organizations who are glad to help out truckers primarily.

 

As all of us realize, trucking is an exceptionally huge field with numerous organizations out there handling hundreds of drivers. The sad thing is, numerous of these drivers land up in income issues since they are still waiting for work from six weeks earlier to actually pay them. When this is the scenario for a truck business, turning to factoring companies for reinforcement could be the most recommended choice left.

 

This means that a truck organization can provide the paychecks of the staff, keep all the trucks topped off with fuel and continue to surmount, evolve and expand without continually waiting for the money which is taking too prolonged to come in. Trucking Firms functioning without a factoring system used are leaving themselves at significant hazard, as contenders cash out rapidly and continue to expand.

 

There's honestly nothing to be stressed about when it comes to using a Factoring business-- they typically aren't like a financial institution or a person who is going to leave you with a considerable stack of debt to pay back. You give them genuine invoices from job you have already finished , you are just expediting the payment system.

 

In the Usa, where truck agencies develop, factoring providers are not considered taking on loan in any capacity. This private agreement then allows both parties to make money and delight in a comfortable future-- it gives the factoring firm a warranted resource of earnings to add to the list and it supplies the trucking company the needed money that they worked hard to get.

 

The trucking firm gives their statements to the factoring agency. The trucking factoring company then obtain the payments from the trucking company's customers. Factoring has been all around for centuries and has been employed for many years by many varying sectors-- but none exceeding so than truckers. While you might possibly miss out on a small part of the money, something like 1-3 % depending upon who you team up with, it implies that you are getting the cash today and can actually start setting the funds to function.

 

Anyway, an IOU or an invoice is not going to pay for spendings, is it? For trucking establishments when the cash can be fantastic one day and gone the next, it's up to the vehicle drivers to work sensibly and to make sure that they are leaving themselves with a notable quantity of time and finance to get through the week till they are paid once again.

 

So the next period your trucking enterprise is enduring some short-term cash flow challenges and you are devoting a bit too much time chasing slow paying clienteles, why not begin looking into making use of a factoring businesses as a manner to get your finances and give yourself a more pleasant future in the eyes of your trucking personnel and your bank dividend?

 

 

 

 

 

 

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Bank Loans

 

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

 

Trucking Factoring Companies

 

Trucking Factoring companies don't offer loans, and you don't 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. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to 'sell.' Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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

 

1. You Won't Incur Debt. You don't 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 won't affect either your business credit rating or your personal credit rating. In the event that your business fails, you wouldn't have to be concerned about someone coming after your personal or your business assets in order 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. 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's 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.You receive interest up-front. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you don't have to continue to pay interest as they take it right off the top, deducting it from the total amount of accounts receivable. So not only are you relieved of those monthly loan payments, but you also don't have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. Since these accounts belong to the Trucking Factoring company, this is now their job. 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.

 

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

 

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