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I liked this product so much - that I - Our Trucking Factoring Company Can Give
Your Freight Company The Cash You Want

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Truck Factoring is helpful for numerous reasons. It allows a truck company to raise money without getting brand-new debt. While debt is in some cases needed, most truck companies would choose to raise cash without borrowing money. Debt is dangerous, and when it cannot be repaid, assets can be repossessed. If the financial obligation is huge enough, it could even force a freight broker firm out of business.

 

 

 

 

 

 

 

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

Exactly how to Increase Money Flow Without Loaning -Cash Money flow is one of the main reasons businesses 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 more. Do not be fooled -- banks are not the only places you can get funding. Other solutions are offered and you do not have to borrow. What is truck factoring ? One solution is called trucking factoring. Truck Factoring is the procedure of offering accounts receivable to an investor instead of waiting to collect the money from the customer. Oh, the Irony- Truck factoring has a paradoxical distinction: It is the financial foundation of many of America's most effective businesses. Why is this ironic ? Since receivable funding is not instructed in business colleges, is seldom discussed in business strategies and is relatively unidentified to bulk of most of American business individuals.

Yet it is a monetary procedure that frees billions of dollars every year, allowing thousands of businesses to grow and succeed. Truck Factoring has actually been around for thousands of years. Trucking Factoring Businesses are investors who pay cash for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your customer has actually to pay in the near future. Factoring Principals--Although factoring offers solely with business-to-business deals, a big percentage of the retail company uses a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail deals. Utilizing the purest meaning of the word, these big consumer finance business are truly simply big Commercial Factoring Businesses of consumer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The store gets paid practically instantly, even though you do not pay up until you are prepared.

For this service, the charge card business charges Sears a charge (typical common normal fees vary from two to four percent of the sale). The Benefits Receivable Financing can offer many advantages to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on an item that has currently been delivered, a company can factor (sell) its receivables for money at a small discount off the dollar value of the invoice. Payroll, advertising efforts, and working capital are simply a few of the company needs that can be satisfied with instant  money.

Staffing Factoring offers the ways for a producer to replenish inventory and make even more products to sell: There is no longer a requirement to await for earlier sales to be paid. FACTORING is not just a money management device for producers: Almost any type business can benefit from Invoice Factoring. Typically, a company that extends credit will have 10 to 20 percent of its yearly sales bound in accounts receivable at any given time. Think for a moment about how much is tied up in 60 days' worth of invoices: You can not pay the power expense or today s payroll with a client s invoice, however you can sell that invoice for the money to satisfy those obligations. Using trucking factoring companies is a quick and simple process. The factor purchases the invoice at a price cut, usually a few portion points less than the stated value of the invoice.

 

 

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The United states Truck Association
mentions that there around
205,000 employees with transportation
firms and
250,000 private providers trucking
companies accredited to
operate in the United States that carried,
according to their most current data of millions
products, materials and
fundamental materials .
There are several typical
providers either going solo or in
teams on our country
highways transferring these
crucial products to our
stores, manufacturing facilities and ports.

Also freight invoice factoring
firms benefit
several of them and offer their
receivables financing services
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

 

El Paso has a diversified economy focused primarily within international trade, military, government civil service, oil and gas, health care, tourism and service sectors. The El Paso metro area had a GDP of $29 billion in 2011. There were also $92 billion worth of trade in 2012. Over the past 15 years the city has become a significant location for American-based call centers. Cotton, fruit, vegetables, and livestock are also produced in the area. El Paso has added a significant manufacturing sector with items and goods produced that include petroleum, metals, medical devices, plastics, machinery, defense-related goods and automotive parts. The city is the second busiest international crossing point in the U.S behind San Diego. El Paso is home to one Fortune 500 company in Western Refining, which is listed on the New York Stock Exchange. This makes the city one of six Texas metro areas to have at least one Fortune 500 company call it home; the others being Houston, Dallas-Fort Worth, San Antonio, Austin and Corpus Christi. The city has three other publicly traded companies in , a NASDAQ-listed company that manufactures personal health care products under many labels, such as among others. The third publicly traded company is listed on the New York Stock Exchange, a public utility engaging in the generation, transmission, and distribution of electricity in west Texas and southern New Mexico. The fourth publicly traded company is also traded in the . It is a subsidiary which owns, operates, develops, and acquires terminals, storage tanks, pipelines, and other logistics assets.Largest Employers in El Paso, Inc. More than 70 Fortune 500 companies have offices in El Paso, Hispanic Business Magazine included 28 El Paso companies in its recently released list of the 500 largest Hispanic owned businesses in the United States. El Paso's 28 companies are second only to Miami's 57. The list of largest Hispanic owned businesses include companies like .The city also has a large military presence with Fort Bliss, William Beaumont Army Medical Center and Biggs Army Airfield. The defense industry in El Paso employs over 37,000 and provides a $6 billion annual impact to the city's economy. Fort Bliss was chosen as the newly configured U.S. Air Force Security Forces Regional Training Center which will bring 8,000 to 10,000 Air Force personnel annually. An M1 Abrams tank crew on Fort Bliss� Do�a Ana RangeIn addition to the military, the federal government has a strong presence in El Paso to manage its status and unique issues as an important border region. Operations headquartered in El Paso include the DEA domestic field division 7, El Paso Intelligence Center, Joint Task Force North, U.S. Border Patrol El Paso Sector and U.S. Border Patrol Special Operations Group (SOG).Call center operations make up seven of the top 10 business employers in El Paso. With no signs of growth slowing in this industry, in 2005, the 14 largest call centers in El Paso employed more than 10,000 people. More recently, has opened a business solutions center in West El Paso, employing about 1,100 people with expansion plans to reach 1,700 by 2017.Tourism is another major industry in El Paso, bringing in $1.5 billion-a-year and over 2.3 million visitors annually due to the city's sunny weather, natural beauty, rich cultural history and many outdoor attractions.Education is also a driving force in El Paso's economy. El Paso's three large school districts are among the largest employers in the area, employing more than 20,000 people among them. UTEP has an annual budget of nearly $418 million and employs nearly 4,800 people. A 2010 study by the university's Institute for Policy and Economic Development stated the University's impact on local businesses is $417 million annually

 

 

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

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

 

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

 

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

 

Life of a Truck driver, like many other professionals can be very challenging, rewarding, and frustrating at the same time. �The com� is an information site for many of the Truckers needs. It is designed to encompass the needs of the Trucker, both on the Road and at Home.

List of Trucking Companies for Owner/Operators and Company Drivers

 

Life of a Truck driver, like many other professionals can be very challenging, rewarding, and frustrating at the same time. �The com� is an information site for many of the Truckers needs. It is designed to encompass the needs of the Trucker, both on the Road and at Home.

List of Trucking Companies for Owner/Operators and Company Drivers

 

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

 

 

"

Since the mid 1980s Pierce Truck & Haul have been successfully running their freight business. 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, Pierce was a top rated accounts receivable mastermind of the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. Cash was flowing and times were good for all.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed down. Worse still, it was noticed by Pierce 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 Pierce, Floyd Dunn, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The numbers of clients who owed him back debt were growing.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? By his bookkeepers records, this wasn't the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. 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 Pierce hadn't gone elsewhere. The had just gone!.The situation looked dire to Floyd Dunn. 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, Sally, and still find no relief from the worry and frustration.

 

""I have a bad feeling, Lin,"" he would say with deep woe.""What could you do differently?"" she would say.Floyd 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 traveling, bringing goods to all of his clients. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. What on earth was happening to create the death of his business?""I think I know what it could be,"" Floyd said. ""I've relied too long on the profits I receive from invoices alone. I've let too many of our customers go too long without paying on their bills."" 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.

 

""Floyd knew very well that Sally was only trying to help, but his responsibilities weighed heavily on his shoulders and he knew he had better do something soon to resolve this situation.The following day Floyd walked into his office with a spring in his step, determined to call each and every client who owed money to Pierce Truck & Haul. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. A waste of time - a waste of money - he had the best intentions, but all the while Floyd was realising just how much trouble he was in.Poor Floyd 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.

 

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

 

""Of course Stella, please come in."" Floyd relaxed back into his chair and looked up at Stellaerley.""Well Floyd, 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 of factoring?"" she asked.""It does sound 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.""Floyd interrupted ""Immediately?"".""Immediately, yes"" she added, ""In a nutshell, it is pretty easy. We can have an expert account manager review our numbers and help us complete a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It provides a very broad view.""Floyd replied cautiously ""I see - and what happens then?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. 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. The funding commences once we�ve arrived at an agreement.�Leaning forward, Floyd studied the documents very closely.""I do not know, Stella - it just sounds too good to be true"", Floyd said quietly.""Now, now, I know, I thought the same thing. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. They appear to be very flexible, Floyd,"" 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. It only takes 2 to 4 days for this to be figured out. ""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" Floyd 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.""Floyd thought about this and agreed with Stellaerley. The customers who were in debt to Pierce 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. Floyd knew only too well that the whole economy was floundering, and that it was not going to change overnight. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. 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 Stella, thank you."" Stella stood up and left Floyd's office, with the nice feeling of knowing that she may just have solved a very serious problem.Floyd sat behind his desk and looked over the details Stella had not mentioned in their meeting. What other issues could freight factoring help Pierce 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. Floyd 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 Calvin about this,"" muttered Floyd to himself.Calvin is Floyd's son-in-law, and he really admired the ideas behind Pierce, so much so that only two years before he had started his own transportation service business. At that time Floyd knew the struggles Calvin would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Pierce was hurting, a little guy like Calvin was about to catch his death. Perhaps the antidote to these problems was in freight factoring, and they were about 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, Floyd found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They used that time to refocus their efforts in being competitive in new territories. Floyd recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. If Floyd hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

El Paso has a diversified economy focused primarily within international trade, military, government civil service, oil and gas, health care, tourism and service sectors. The El Paso metro area had a GDP of $29 billion in 2011. There were also $92 billion worth of trade in 2012. Over the past 15 years the city has become a significant location for American-based call centers. Cotton, fruit, vegetables, and livestock are also produced in the area. El Paso has added a significant manufacturing sector with items and goods produced that include petroleum, metals, medical devices, plastics, machinery, defense-related goods and automotive parts. The city is the second busiest international crossing point in the U.S behind San Diego. El Paso is home to one Fortune 500 company in Western Refining, which is listed on the New York Stock Exchange. This makes the city one of six Texas metro areas to have at least one Fortune 500 company call it home; the others being Houston, Dallas-Fort Worth, San Antonio, Austin and Corpus Christi. The city has three other publicly traded companies in , a NASDAQ-listed company that manufactures personal health care products under many labels, such as among others. The third publicly traded company is listed on the New York Stock Exchange, a public utility engaging in the generation, transmission, and distribution of electricity in west Texas and southern New Mexico. The fourth publicly traded company is also traded in the . It is a subsidiary which owns, operates, develops, and acquires terminals, storage tanks, pipelines, and other logistics assets.Largest Employers in El Paso, Inc. More than 70 Fortune 500 companies have offices in El Paso, Hispanic Business Magazine included 28 El Paso companies in its recently released list of the 500 largest Hispanic owned businesses in the United States. El Paso's 28 companies are second only to Miami's 57. The list of largest Hispanic owned businesses include companies like .The city also has a large military presence with Fort Bliss, William Beaumont Army Medical Center and Biggs Army Airfield. The defense industry in El Paso employs over 37,000 and provides a $6 billion annual impact to the city's economy. Fort Bliss was chosen as the newly configured U.S. Air Force Security Forces Regional Training Center which will bring 8,000 to 10,000 Air Force personnel annually. An M1 Abrams tank crew on Fort Bliss� Do�a Ana RangeIn addition to the military, the federal government has a strong presence in El Paso to manage its status and unique issues as an important border region. Operations headquartered in El Paso include the DEA domestic field division 7, El Paso Intelligence Center, Joint Task Force North, U.S. Border Patrol El Paso Sector and U.S. Border Patrol Special Operations Group (SOG).Call center operations make up seven of the top 10 business employers in El Paso. With no signs of growth slowing in this industry, in 2005, the 14 largest call centers in El Paso employed more than 10,000 people. More recently, has opened a business solutions center in West El Paso, employing about 1,100 people with expansion plans to reach 1,700 by 2017.Tourism is another major industry in El Paso, bringing in $1.5 billion-a-year and over 2.3 million visitors annually due to the city's sunny weather, natural beauty, rich cultural history and many outdoor attractions.Education is also a driving force in El Paso's economy. El Paso's three large school districts are among the largest employers in the area, employing more than 20,000 people among them. UTEP has an annual budget of nearly $418 million and employs nearly 4,800 people. A 2010 study by the university's Institute for Policy and Economic Development stated the University's impact on local businesses is $417 million annually

 

 

More Trucking Factoring Companies Story Articles

"

The Future of a Trucking Company, and Factoring The phone was ringing on his desk, and Todd Hughes just sat there letting it ring. His morning coffee cooled and his cigarette smoked away in the tray: Todd is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Hughes 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.

 

Todd�s father had started as an owner-operator and had grown Hughes Trucking Company into a fifteen trailer fleet over forty years. Yes, they had survived some very difficult times when it appeared like they might go under, and even Todd'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 Todd�s hands and he wanted to live to see it in better shape for his sons.

 

To move Hughes Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. He had employees to pay. 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 Hughes Trucking look inefficient and weak in what was currently a strong market.

 

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

 

Todd knew he was right in his forward thinking. How would he take Hughes Trucking to the next level? 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? There was a lot he didn�t understand about the process. 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. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. 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.

 

Todd 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. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

However, it all turned out to be very simple. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He was quite happy to sign an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. He was more than happy with the figures he was offered in percentage terms on the freight bills. It was good money.

 

For Todd it was quite a relief to be dealing with the factoring company. 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 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 Todd because he and his father had created a very strong and loyal list of clientele over the years. So he knew they would understand when the factoring company contacted them for the invoices. His clients would not have any problems, nor would they think poorly of Hughes Trucking, because the factoring companies handle themselves in such a polite and professional manner, similar to the way his father had managed the business in the past.

 

Feeling happier now, Todd stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. He suddenly realized that, with this new cash flow, he could actually expand Hughes 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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Trucking Factoring  Articles

"

�So, this is not a loan?� Mark Brown asked as he leaned back in his chair, crossing his legs. The woman who sat across the desk smiled and shook her head.�No, not exactly,� she said.Mark Brown owned a small trucking company, and his business had recently fallen on difficult times. Trucking could be a profitable business, and for a little under a decade, it had been for Chris. His company was called Martin Trucking, named after both of his grandfathers, Patrick and Marion. Both of these men had been very hardworking and had set a great example for Chris.Six months ago disaster struck Chris's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. Mark depended on his full fleet, and missing two trucks was devastating . In addition, he just did not 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. You could go a month or more before bills were completely paid off. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Mark 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. Mark knew she was employed by a Factoring company and that her name was Sylvia. Mark had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.Sylvia explained. �it is really not a loan at all: we actually buy your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. This is a win-win situation: we are protected from a total loss, and you're protected from the ridiculous fees and charges you'd have to pay if you borrowed from a bank.Mark nodded. It sounded perfect - perhaps too good?.The woman laughed. �You look like you don�t believe me,� she said.�No, I do, I just think it sounds a bit too good to be true. I thought I was going to lose my company.�Sylvia nodded. �Yes, we get a lot of that. 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 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,� Sylvia said with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Mark filled the form out, with Sylvia available to help him if he needed it. The completed profile gave Sylvia and her company all the information they needed on Chris'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. As Mark completed his form, Sylvia listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Sylvia took it and slid it into her briefcase. She then stood, reached across the desk and shook Chris�s hand. He stood before they shook as well, and then smiled. They said their goodbyes and Mark walked her to the door, and then returned to his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He shut 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 Sylvia 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 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.His mind wandered back to the very beginning, when he first started his business. At twenty-two and straight out of school he had opened a restaurant. It had been successful. Offering home cooking in his own hometown, his business had really prospered.But it wasn't what he really wanted to do. 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 Martin Trucking. And that's exactly what he did. For the second time in his short life he created a company from the ground up. The business had been an instant success.And then the trucks went down, and his success looked to be in flux. He was nearing fifty. He was concerned that he just did not have the energy left to try and save the business. But he couldn�t give up. The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He didn�t know how to say quit.And now it seemed as though he would not have to - all because of Factoring. Chris's eyes opened, he sat forward in his chair and turned on his computer. He had things to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

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More Trucking Factoring Company Story Articles

Why Trucking Companies Work with Factoring Firms.

 

As the owner of your own company, you may likely be more than mindful already of the challenge in making sure that cash flow concerns do not become a dilemma down the line. After all, the most awful thing that can in all probability transpire for your business is to find yourself swept up in a long and hard condition that leaves you forever trying to find the funds you require on an continuing manner.

 

For virtually any firm in this scenario, the issue can come for waiting for work to lapse and actually be settled into your balance. Bill of sales, checks, and the like could take a while to actually to be taken care of which could leave you with momentary capital troubles. Gratefully, there are opportunities out there for establishments to explore-- and one of these is factoring companies.

 

Factoring providers will, in exchange for your bill of sales, provide you with the funds now in order that you do not need to worry about the delaying duration that could make paying out the bills and purchasing materialsmore hard. With this kind of system, invoice factoring can end up being extremely valuable for countless businesses who have to get out of a cash pitfall which they have found themselves in.

 

Given that, depending upon the size of the project, it can take up to 60 days for several enterprises to get paid then it is necessary to cover up your own back and definitely not leave yourself funds short to settle the bills. After all, how many businesses possess two months revenue just lying there to cover all their bills until they earn?

 

This is especially correct of truck agencies. They tend to deal with tons of accounts which means a significant volume of collection period entails company owner themselves. Making an effort to get paid off promptly can turn into an unbelievable trouble and this is the reason why you use truck factoring providers who are happy to help out truckers specifically.

 

As all of us realize, trucking is an astonishingly large field with countless organizations out there handling hundreds of operators. The sad thing is, plenty of these drivers wind up in money troubles considering that they are still waiting on work from six weeks in the past to actually pay them. When this is the scenario for a trucking company, depending on factoring firms for aid may be the best alternative left.

 

This implies that a truck business can provide the paychecks of the workers, keep all the vehicles loaded with fuel and continue to go up, evolve and expand without constantly waiting for the finances which is taking too lengthy to come in. Trucking Enterprises working without a factoring program established are leaving themselves at critical hazard, as contenders cash out promptly and go on to grow.

 

There's absolutely nothing to be worried about when it comes to making use of a Factoring firm-- they typically are not like a banking company or a person who is going to leave you with a big heap of financial obligation to repay. You give them legitimate invoices from output you have already completed , you are only just quickening the repayment process.

 

In the United States, where truck firms grow, factoring companies are not considered borrowing in any capacity. This private deal then permits both parties to make money and indulge in a comfortable future-- it provides the factoring provider a warranted resource of earnings to put into the list and it provides the trucking business the required finances that they worked hard to earn.

 

The trucking business gives their statements to the factoring firm. The trucking factoring business then acquire the payments from the trucking company's customers. Factoring has been all around for hundreds of years and has been utilized for many years by several different business sectors-- 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 collaborate with, it implies that you are receiving the cash today and can actually start setting the resources to function.

 

Once and for all, an IOU or an invoice is absolutely not going to finance costs, is it? For trucking establishments when the cash can be really good one day and gone the next, it is up to the drivers to work prudently and to ensure they are leaving themselves with a significant quantity of time and finance to get through the week up until they are paid for once more.

 

So the next time your trucking establishment is having some temporary cash flow dilemmas and you are devoting too much time chasing inactive paying clienteles, why not start off taking into consideration utilizing a factoring businesses as a way to get your finances and give yourself a more convenient future in the eyes of your trucking team and your bank balance?

 

 

 

 

 

 

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Traditional Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. These loans can be a life-saver, but they're not always available to every business. 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. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not offer loans, and you do not go into debt when you get money from a Trucking Factoring company. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. 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 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.

 

What Are The Benefits Of A Trucking Factoring Company Versus A Traditional Bank Loan?

 

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

 

1. You will not Incur Debt. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

2. There's no collateral required. Another 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. With a Trucking Factoring company you can actually get the money you need faster. 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. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.

 

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

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The most important benefits is that once you sell your accounts receivable to the factory company, you do not have to take time away from running your business to collect the money owed from reluctant to pay 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.

 

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

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Tampa

Honolulu

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St. Louis

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Corpus Christi

Pittsburgh

Lexington Fayette

Anchorage

Stockton

Cincinnati

St. Paul

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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

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Irvine

Chesapeake

Irving

Scottsdale

North Las Vegas

Fremont

Gilbert town

San Bernardino

Boise

Birmingham

Rochester

Richmond

Spokane

Des Moines

 

 

 

 

 

El Paso

 

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