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Will You Help me Get Money? - Our Invoice Factoring Company Can Provide Your Trucking Company The Cash You Need


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Factoring invoices is beneficial for several reasons. It enables a truck company to raise money without obtaining new debt. While debt is often essential, the majority of freight brokerage would choose to raise cash without obtaining cash. Debt is high-risk, and when it can not be paid back, possessions can be repossessed. If the debt is huge enough, it may even require a truck businesses out of business.

 

How Much is Your Cash Flow "Tension" Costing Your Company - Pick A Freight Bill�Factoring Company  Instead Of A Traditional Bank Funding

How to Increase Money Flow Without Loaning -Cash Money flow is one of the primary reasons businesses fail.

At one time or another, every company, even effective ones, have experienced bad cash flow.

Money flow does not have to be a problem any ever more. Do not be fooled -- banks are not the only places you can get funding. Other solutions are offered and you do not have to borrow money. Exactly what is truck factoring ? One option is called trucking factoring. Truck Factoring is the procedure of selling accounts receivable to an investor instead of waiting to collect the money from the client. Oh, the Irony- Truck factoring has a paradoxical difference: It is the financial foundation of many of America's most effective companies. Why is this paradoxical ? Since invoice factoring is not instructed in business colleges, is rarely discussed in business plans and is relatively unknown to bulk of most of American business people.

Yet it is a financial process that frees billions of dollars every year, allowing thousands of businesses to grow and succeed. Factoring has actually been around for countless years. Receivable Funding 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 agreed pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business transactions, a large percentage of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail transactions. Utilizing the purest definition of the word, these large consumer finance business are truly simply large Receivable Loan Funding Companies of customer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The store makes money almost instantly, even though you do not make payment up until you are ready.

For this service, the charge card company charges Sears a fee (typical common normal fees range from 2 to 4 percent of the sale). The Advantages Receivable Funding can offer numerous benefits to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on a product that has actually currently been delivered, a business can factor (sell) its receivables for money at a small discount off the dollar value of the invoice. Payroll, marketing efforts, and working capital are just a few of the company needs that can be met with instant  money.

Receivable Loan Funding offers the means for a manufacturer to renew stock and make more products to sell: There is no longer a requirement to wait for earlier sales to be paid. Receivable Loan Financing is not simply a cash management device for manufacturers: Practically any kind company can benefit from Factoring. Typically, a business 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 bill or this week s payroll with a customer s invoice, however you can offer that invoice for the money to satisfy those obligations. Using truck factoring companies is a fast and easy process. The factor purchases the invoice at a price cut, usually a couple of portion points less than the face value of the invoice.

 

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The United states Trucking Organization specifies that there are about 200,000  workers with transportation businesses and 276,000 personal providers trucking firms certified to run in the States that  carried, according to their most current searchings for billions of  products, materials and fundamental products . There are numerous  typical carriers either going solo or in groups on our nation roads transferring these crucial items to our stores, manufacturing facilities and harbors.

Also truck factoring corporations aid several of them and offer their receivables financing services nationally counting 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
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Life of a Truck driver, like many other professionals can be very challenging, rewarding, and frustrating at the same time. �The Truckers Place.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. 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

 

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

 

Life of a Truck driver, like many other professionals can be very challenging, rewarding, and frustrating at the same time. �The Truckers Place.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 Truckers Place.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

 

United States Trucking Companies

Click below to find Trucking Companies in the United States:

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

 

 

 

 

Arlington, the seventh-largest city in Texas and the 50th largest city in the United States/. It is located in Tarrant County, between Dallas and Fort Worth. It was named for Arlington, Va., home of General Robert E. Lee.In 1875, the Texas and Pacific Railroad chose a site for a new station, which opened as Arlington Station in 1876. The surrounding city of Arlington was incorporated in 1884. Arlington College opened in 1895; it would, in 1966, become the University of Texas at Arlington. Arlington is one of the nation's fastest-growing cities, more than doubling in population between 1980 and 2000. Its General Motors plant employs 3,000, producing automobiles and parts. The city also produces medical, electronic, and oil-field equipment, plus rubber and plastic products.Arlington is perhaps best known for its recreational and sports attractions. In 1961, the Six Flags Over Texas amusement park opened its doors. In 1972, the Washington Senators baseball team moved to their new home at Turnpike Stadium (now Ameriquest Field), becoming the Texas Rangers. A new $650 million football stadium for the Dallas Cowboys was approved by Arlington voters in 2004 and completed in 2009. The stadium seats 80,000, making it the third largest stadium in the National Football League. Located just five miles from the Dallas/Fort Worth International Airport, Arlington continues to serve as a transportational hub for the area.Arlington is a city in the U.S. state of Texas, within the Dallas�Fort Worth�Arlington metropolitan area and Tarrant County. According to the U.S. Census Bureau's estimate, the city had a population of almost 374,000 at the end of 2011,[3] making it the third largest municipality in the metropolitan area. Arlington is the fiftieth most populous city in the United States, the seventh most populous city in the state of Texas,[4] and the largest city in the state that is not a county seat. Arlington is the largest city in the United States without a comprehensive public transit system.[5]Located approximately 12 miles (19 km) east of downtown Fort Worth and 20 miles (32 km) west of downtown Dallas, Arlington is home to the University of Texas at Arlington, a doctoral-granting institution, and a General Motors assembly plant. Additionally Arlington hosts the Texas Rangers' Globe Life Park in Arlington, AT&T Stadium, the International Bowling Campus (which houses the United States Bowling Congress, International Bowling Museum and the International Bowling Hall of Fame), the headquarters for American Mensa, and the theme parks Six Flags Over Texas (the original Six Flags) and Hurricane Harbor. Arlington is the headquarters of the Nuclear Regulatory Commission Region IV.Arlington borders Kennedale, Grand Prairie, Mansfield and Fort Worth, and surrounds the smaller communities of Dalworthington Gardens and Pantego.

 

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Powell Truck and Haul has been in business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the heady times from 2002 to 2007, Powell 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.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed to a crawl

 

. Worse still, it was noticed by Powell 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 Powell, Martin Gomez, 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? 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 couldn't 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 Powell hadn't gone elsewhere. The had just gone!.The situation looked dire to Martin Gomez. Martin was very concerned, because there were constant overheads, goods to ship, employees to pay, and trucks which needed to be maintained, but there just wasn't the money coming back into the business. After work he would confide in his wife, Anne, and neither were unable to stop the constant worry over the lack of funds.""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would say.Martin would stare off for a moment and then close 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. Why couldn�t he work out how to resolve this financial problem with his business?""I know what it is,"" said Martin. ""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."" Anne 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'.""Anne was trying so hard to support her husband in these worrying times, while Martin was weighed down with the worry of how he was going to handle this situation he found himself in.The next day Martin strolled into his office and was determined to sit down and make every phone call to every client who had owed Powell 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. Wasting money, wasting time - even with the best of intentions, Martin knew that he was in trouble.

 

After a half day of contacting debtors in vain - they dodged his calls or promised to call back at worst or made minimal interest-only payments at best - he was about to throw in the towel when his secretary Lisaerley knocked at his door.

 

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

 

""Of course Lisa, please come in."" Martin leaned back in his chair and looked expectantly at Lisaerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Martin."" 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 sounds vaguely familiar. What is it?"" he said.""Well,"" she began, ""It�s actually quite simple really.

 

Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Martin interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""In a nutshell, it's pretty easy. We start by having a professional account manager review our figures and help us set up a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It�s a broad view.��I see,� Martin said. �And then what?��Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

This company tells us what the cost will be to purchase factoring for our accounts receivable. Once we arrive at a mutual agreement, the funding begins.�Martin leaned forward and reviewed the paperwork closely.""I don't know, Lisa - it just sounds too good to be true"", Martin said quietly.""Yes, I know; that's exactly what I thought at the beginning. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. And they're flexible Martin,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" asked Martin.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. 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. It's imperative that we keep the business rolling as usual, and every day we go unpaid we're getting closer and closer to dealing with some serious issues in both the short term and the long term,"" said Martin.Martin took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. I think this might just be a way out of the trouble we're in with these folks who owe us money.""Martin took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Powell Truck & Haul were professional resources of the company, but they were also long-standing friends. Just because they were experiencing difficulties paying their own bills now, Martin was very concerned about losing these relationships. Martin knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. That unknown amount of time could create a disaster situation for both of them if he wasn't careful in how these debtors were handled. Of course he didn't want to lose any more money, but he didn't want to lose business either.""Well, let me think about this tonight Lisa, thank you."" Lisa nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Martin keep the shirt on his back, and possibly hers too.Martin stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. He wondered if there might be other problems freight factoring could help Powell Truck & Haul 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. In fact, Powell could receive up to fifty-percent cash advances upon load pick-ups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""Well, I'll have to tell Eric about this,"" muttered Martin to himself.Eric is Martin's son-in-law, and he really admired the ideas behind Powell, so much so that only two years before he had started his own transportation service business. At that time Martin knew the struggles Eric would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Powell was struggling then the little guys, like Eric, were going to be in even more trouble.

 

But, an antidote may have been found in freight factoring and Martin was soon to find out.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Martin was beginning to find his way out of the hole his debtors had created for him.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They used that time to refocus their efforts in being competitive in new territories. Martin recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

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"

The Future of a Trucking Company, and Factoring The phone was ringing on his desk, and Brad Howell 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. Howell Trucking Company was at a turning point of growth and Brad had to decide if signing with a factoring company was the right way forward.

 

Brad�s father had started as an owner-operator and had grown Howell Trucking Company into a fifteen trailer fleet over forty years. There had been some hard times when it seemed everything was going to go under and even Brad�s mother strapped herself into a cab to make hauls. His father had worked long enough to see the price of hires drop dramatically during the recession and to see the explosion of fuel prices afterwards. Now the company was solely in Brad�s hands and he wanted to live to see it in better shape for his sons.

 

To move Howell 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 had families and household bills too. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. He knew that turning down these requests made Howell Trucking look inefficient and weak in what was currently a strong market.

 

His father would have told him to wait and to take his time adding on new technology. Brad chuckled, thinking about his father. 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?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). 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.

 

Brad knew he was right in his forward thinking. How would he take Howell Trucking to the next level? More importantly, how could he afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

But was factoring the answer? If he was being honest, he didn't really understand how it all worked. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. 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.

 

Brad had to really consider what his next step was going to be. Brad had heard that there were companies that charged for same day money transfers and would only advance a percentage of the money owed to your company while holding the rest in a private account if they didn�t get their bill payment within 60 or so days. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! 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 colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

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

 

For Brad it was quite a relief to be dealing with the factoring company. They were extremely helpful and more personable than the bank staff. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies were not interested in his credit nor the financial problems his father had experienced in the past. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Brad because he and his father had created a very strong and loyal list of clientele over the years. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients wouldn�t think poorly of Howell 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.

 

Brad stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. With the capabilities of this new cash flow, Brad could actually expand Howell Trucking Company further across the country and perhaps even go international into Canada. 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 wouldn't be inheriting a financial mess.

 

"

 

 

 

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Trucking Factoring  Articles

�So, this is not a loan?� asked Kurt Lewis, reclining back into his chair and crossing his legs. The woman sitting across the desk from Kurt smiled at him, shaking her head.�Not quite,� she said.Kurt Lewis owned a small trucking company, and his business had recently fallen on difficult times. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Everett. His company was called Bishop Trucking, named after both of his grandfathers, Gabriel and Edgar. Both of these men had been very hardworking and had set a great example for Everett.Six months ago disaster struck Everett'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. The financial security of Everett's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Kurt had on hand.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. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Kurt was an excellent business man, and he certainly hadn't done anything wrong. Certain events had occurred that he couldn't possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.That�s where the woman across the desk came in. Her name was Joyce and she worked for a factoring company. Kurt had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.She sat there now, and explained. �it 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. 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.Kurt nodded. It sounded perfect - perhaps too good?.The woman laughed. �I'm not sure that you 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.�Joyce smiled, agreeing. �Yes, we get a lot of that. There's no way we want to see you lose your business. We know how hard you work, and that you've invested everything in your business. Sometimes you need help. That�s what we�re here for.��Well, I'm very grateful that you came to see me today.��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 Joyce with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Kurt completed the form, with Joyce offering advice as needed.

 

The profile filled Joyce and her company in on Everett�s company, and would help them determine if he was suitable for factoring. In truth, not all companies were. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. Listening as Kurt filled out his form, Joyce was pretty sure he was a perfect candidate for factoring.When the form was done Joyce took it and slid it into her briefcase. Standing up, she reached over the desk and shook Everett's hand. He stood before they shook as well, and then smiled. They said their goodbyes and Kurt walked her to the door, and then returned to his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He leaned back and closed his eyes. He 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 Joyce 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 knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was 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. He had opened a restaurant at age twenty two when he was fresh out of school. It had been really successful. Offering home cooking in his own hometown, his business had really prospered.But it wasn't what he really wanted to do. He wasn't passionate about the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took six months off, and during that time he decided to create Bishop Trucking. And that's exactly what he did. For the second time in his short life he created a company from the ground up. He had been successful.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was nearing fifty. He was concerned that he just 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 know how to say quit.And now it seemed as though he wouldn't have to - all because of Factoring. Everett's eyes opened, he sat forward in his chair and turned on his computer. He had things to do. He could be thankful later, for now, it was time to work.

 

 

 

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Reasons why Trucking Companies Utilize Factoring Firms.

 

As the operator of your own company, you may well be much more than aware already of the difficulty in making certain that cash flow issues do not become a dilemma down the line. Anyway, the most unfortunate thing that can possibly take place for your establishment is to find yourself swept up in a long and tough situation that leaves you forever searching for the finances you really need on an on-going basis.

 

For any kind of enterprise in this case, the trouble can come for waiting for work to lapse and actually be settled into your bank account. Statements, checks, and the like can take some time to actually to be taken care of which can certainly leave you with temporary available resources problems. Luckily, there are solutions out there for enterprises to examine-- and one of these is factoring providers.

 

Factoring agencies will, in substitution for your invoices, provide you with the money right now to make sure that you don't need to worry about the delaying period that could make paying off the bills and acquiring toolsmore difficult. With this kind of system, invoice factoring can end up being remarkably valuable for lots of firms who have to get out of a money ploy which they have discovered themselves in.

 

Since, relying on the scale of the project, it can take up to 60 days for a number of companies to get paid then it's critical to take care of your own back and definitely not leave yourself resources short to pay the costs. After all, how many companies possess two months cash flow just occupying there to cover all their spendings until they earn?

 

This is especially true of truck firms. They usually handle tons of statements which means a significant volume of collection time demands company owner themselves. Trying to get paid off promptly can come to be an unbelievable hassle and this is the key reasons why you make use of truck factoring organizations who are happy to help out truckers mainly.

 

As all of us understand, trucking is an remarkably enormous field with numerous firms out there working with hundreds of drivers. Sadly, numerous of these drivers end up in income problems because they are still waiting for work from six weeks in the past to actually pay them. When this is the situation for a truck organization, turning to factoring providers for help might be the very best choice left.

 

This signifies that a truck firm can compensate the paychecks of the staff, keep all the cars filled with gas and continue to escalate, thrive and expand without always waiting for the money which is taking too long to come in. Trucking Firms working without a factoring program established are leaving themselves at notable hazard, as rivals cash out quickly and continue to broaden.

 

There's absolutely not much to be worried about when it comes to using a Factoring contractor-- they aren't like a bank or somebody who is going to leave you with a large mass of debt to pay back. You give them genuine invoices from output you have already completed , you are only speeding the repayment system.

 

In the United States, where truck firms flourish, factoring establishments are not considered borrowing in any capacity. This confidential arrangement then permits both groups to make money and delight in a good future-- it provides the factoring agency a secured resource of money to put into the list and it supplies the trucking company the needed finances that they sweated to get.

 

The trucking company gives their statements to the factoring establishment. The trucking factoring business then receive the payment amounts from the trucking company's customers. Factoring has been in existence for hundreds of years and has been employed for several years by lots of various fields-- but none more so than truckers. While you may well miss out on a small part of the money, something like 1-3 % depending upon who you partner with, it means that you are getting the money today and can actually begin setting the resources to function.

 

Once and for all, an IOU or an invoice is absolutely not going to finance expenditures, is it? For trucking enterprises when the income can be really good one day and gone the next, it's up to the drivers to work prudently and to make sure they are leaving themselves with a notable measure of time and money to get through the week up until they are paid for again.

 

So the next moment your trucking enterprise is bearing some temporary cash flow issues and you are putting in an excessive amount of time chasing slowly paying clients, why not begin considering making use of a factoring businesses as a method to get your cash and give yourself a more worry-free future in the eyes of your trucking personnel and your bank difference?

 

 

 

 

 

 

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Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. While these loans are handy they are not available to every business. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it's usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Once the loan is paid off, you can then apply for another loan if the need arises.

 

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.

 

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

 

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

 

1. You 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. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating won't be affected. 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. 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. No Collateral Required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you aren't 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. 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. You'll receive the money faster. Using a Trucking Factoring company means that you'll get the finance quicker. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.Interest is Paid Up Front. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you 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 you don't have to worry about monthly loan repayments, and you don't have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

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

 

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

 

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Invoice Factoring Companies by City

New York City
Los Angeles
Chicago
Houston
Philadelphia
Phoenix
San Antonio
San Diego
Dallas
San Jose

Austin
Jacksonville
Indianapolis
San Francisco
Columbus
Fort Worth
Charlotte
Detroit
El Paso
Memphis

Boston
Seattle
Denver
Washington DC
Nashville-Davidson
Baltimore
Louisville/Jefferson
Portland
Oklahoma City
Milwaukee

Las Vegas
Albuquerque
Tucson
Fresno
Sacramento
Long Beach
Kansas City
Mesa
Virginia Beach
Atlanta

Colorado Springs
Raleigh
Omaha
Miami
Oakland
Tulsa
Minneapolis
Cleveland
Wichita
Arlington

New Orleans
Bakersfield
Tampa
Honolulu
Anaheim
Aurora
Santa Ana
St. Louis
Riverside
Corpus Christi

Pittsburgh
Lexington Fayette
Anchorage
Stockton
Cincinnati
St. Paul
Toledo
Newark
Greensboro
Plano

Henderson
Lincoln
Buffalo
Fort Wayne
Jersey
Chula Vista
Orlando
St. Petersburg
Norfolk
Chandler

Laredo
Madison
Durham
Lubbock
Winston Salem
Garland
Glendale
Hialeah
Reno
Baton Rouge

Irvine
Chesapeake
Irving
Scottsdale
North Las Vegas
Fremont
Gilbert town
San Bernardino
Boise
Birmingham
Rochester
Richmond
Spokane
Des Moines