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Great New Discovery Kills Cash Flow Problems Quick! - Our Truck Factoring Companies Can Give
Your Truck Company The Cash You Want

factorinvoices.org

freight factoring companies for brokers

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freight invoice factoring

Small freight companies, specifically those who have not been in existence for very long, will frequently find it hard to protect a loan. Banks are commonly hesitant to provide cash to companies that do not have a lot of earnings and assets. They likewise want proof of the practicality of a business and therefore require that a lot of operations, particularly little ones, be in company for a specific quantity of time before they want to turn over any cash. Because of this, a medium-size company typically has a couple of cash producing options when requires occur. One alternative offered, however frequently ignored, is invoice factoring. This is an outstanding way for a small company to get money.

 

 

 

 

 

 

 

The Company Who Won the Prize For - Select A Freight Bill�Factoring Company  Instead Of A Typical Bank Funding

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

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

Money flow does not have to be an issue any ever more. Do not be deceived -- banks are not the only locations you can get financing. Other solutions are available and you do not have to borrow. Exactly what is trucking factoring ? One solution is called truck factoring. Truck Factoring is the procedure of offering invoices to an investor rather than waiting to collect the money from the client. Oh, the Irony- Trucking factoring has a paradoxical difference: It is the financial backbone of many of America's most effective businesses. Why is this ironic ? Since staffing factoring is not taught in business colleges, is seldom mentioned in business plans and is relatively unknown to bulk of most of American company people.

Yet it is a financial process that releases up billions of dollars every year, enabling countless businesses to grow and succeed. Receivable Loan Financing has actually been around for countless years. FACTORING Businesses are financiers who pay money for the right to receive the future payments on your invoices. An overdue receivable or invoice has value. It is a debt your customer has agreed pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business deals, a big portion of the retail business uses a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail transactions. Utilizing the purest definition of the word, these large customer finance business are really just large Invoice Factoring Businesses of consumer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The shop makes money almost immediately, although you do not make payment up until you are ready.

For this service, the credit card business charges Sears a fee (typical common normal fees vary from 2 to four percent of the sale). The Benefits Invoice Factoring can offer many advantages to cash-hungry companies. Instead of waiting 30, 60, 90 days or longer for payment on an item that has already been provided, a company can factor (sell) its receivables for money at a little price cut off the amount of the invoice. Payroll, marketing efforts, and working capital are just a few of the company requirements that can be satisfied with instant  money.

Receivable Loan Funding offers the ways for a producer to replenish stock 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 cash management device for producers: Practically any type company can benefit from Commercial Factoring. Typically, a company that extends credit will have 10 to 20 percent of its annual sales bound in accounts receivable at any given time. Think for a moment about how much is tied up in 60 days' worth of invoices: You can not pay the power expense or today s payroll with a client s invoice, but you can sell that invoice for the cash to satisfy those responsibilities. Using trucking factoring companies is a fast and easy procedure. The factor buys the invoice at a discount, usually a few percentage points less than the stated value of the invoice.

 

 

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columbus-factoring-companies

 

The United states Trucking Association
mentions that there are about
205,000 truck drivers with truck
companies and
250,000 personal service providers trucking
firms accredited to
run in America that transferred,
according to their latest data of millions
items, materials and
basic products .
There are numerous typical
providers either going solo or in
teams on our country
roads transferring these
vital products to our
shops, manufacturing facilities and shipping ports.

Also freight factoring
companies aid
countless of them and offer their
factoring services
countrywidecounting
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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Columbus has a generally strong and diverse economy based on education, insurance, banking, fashion, defense, aviation, food, logistics, steel, energy, medical research, health care, hospitality, retail, and technology. Overall, it was ranked as one of the top 10 best big cities in the country in 2010, according to Relocate America, a real estate research firm. ranked Columbus and its metro area as the No. 7 best place in the country to operate a business in 2008. In 2012, Magazine ranked the city as the best city for working moms. In 2007, the city was ranked No. 3 in the United States by fDi magazine for ""Cities of the Future"", and No. 4 for most business-friendly in the country. Columbus was ranked as the seventh strongest economy in the United States in 2006, and the best in Ohio, according to Corp. In 2011, the Columbus metropolitan area's GDP was $94.7 billion, up from $90 billion in 2009, up from $85.5 billion in 2006, $75.43 billion in 2005, and $69.98 billion in 2001. SERS building, downtownDuring the recession beginning in late 2007, Columbus' economy was not impacted as much as the rest of the country, due to decades of diversification work by long-time corporate residents, business leaders, and political leaders. The current administration of mayor has continued this work, although the city faced financial turmoil and had to increase taxes, due in part to alleged fiscal mismanagement. Because Columbus is the state capital, there is a large government presence in the city. Including city, county, state, and federal employers, government jobs provide the largest single source of employment within Columbus.In 2013, the city had four corporations named to the U.S. Fortune 500 list: located in suburban Dublin. Other major employers in the area include numerous schools (for example, The Ohio State University) and hospitals, hi-tech research and development including the in Columbus. Major foreign corporations operating or with divisions in the city include .

 

"

 

View Our Truck Factoring Companies YouTube Videos For More Information

 

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

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

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

 

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

 

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.

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.

 

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

 

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

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

 

 

"

Since the mid 1980s Kim Truck & Haul have been successfully running their freight business. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the boom times from 2002 to 2007 Kim Truck & Haul was the mastermind of a top-rated accounts receivable in 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. 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 to a crawl

 

. Worse still, it was noticed by Kim 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 Kim, Jamie Graves, 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 something wrong or different when it came to reaching out to delinquent accounts? By his bookkeepers records, this wasn't the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Kim hadn't gone elsewhere. They had just gone home.To Jamie Graves the situation looked desperate. There were goods to ship, employees to pay, trucks to repair and maintain, and continuous overheads that were very extensive when compared to the funds (or lack of) that were incoming. In the evenings he would discuss his concerns with his wife, Lillie, and still find no relief from the worry and frustration.

 

""I have a bad feeling, Lin,"" he'd sadly say to his wife.""What could you do differently?"" she would say.Jamie would stare off into the distance, and then slowly close his eyes. He could see the fleet of trucks he had purchased over the years. He could see them on the road, delivering good to all his loyal customers. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. Why couldn�t he work out how to resolve this financial problem with his business?""I know what it is,"" said Jamie. ""For way too long I've been relying solely on profits received from invoices. I've let too many of our customers go too long without paying on their bills."" Lillie would look at her husband lovingly, and holding his hand would say 'it is such a harsh economy these days and our clients must be having difficulty meeting their responsibilities'.""Jamie knew very well that Lillie 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 Jamie walked into his office with a spring in his step, determined to call each and every client who owed money to Kim Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Jamie knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. A waste of time - a waste of money - he had the best intentions, but all the while Jamie was realising just how much trouble he was in.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 Sueerley knocked at his door.

 

""Can I have a word with you Jamie?"" she queried, standing in the doorway.

 

""Sure thing Sue, come on in."" Jamie relaxed back into his chair and looked up at Sueerley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Jamie."" 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 factoring""? he asked.""Well,"" she began, ""It�s actually quite simple really.

 

So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Immediately?"" Jamie interrupted.""Yes, immediately,"" she continued, ""it is actually very simple. We start by having a professional account manager review our figures and help us set up 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.""I see,� Jamie 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. We come to an agreement and the funding starts pouring out.�Jamie was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Sue,"" he said.""Now, now, I know, I thought the same thing. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. They appear to be very flexible, Jamie,"" she drew a circle around a paragraph on the document before him.""How flexible?"" he asked.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. It only takes 2 to 4 days for this to be figured out. ""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" Jamie said.Jamie took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Precisely�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Jamie took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Kim Truck & Haul were professional resources of the company, but they were also long-standing friends. Jamie wasn't prepared to lose these relationships just because they were having financial issues at the moment. Jamie knew only too well that the whole economy was floundering, and that it was not going to change overnight. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. He did not want to lose business but he also did not want to lose any more money.""Well, let me think about this tonight Sue, thank you."" Sue stood up and left Jamie's office, with the nice feeling of knowing that she may just have solved a very serious problem.Jamie 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 Kim 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, Kim could receive up to fifty-percent cash advances upon load pick-ups. Jamie was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""I must tell Bill the good news,"" muttered Jamie to himself.Jamie's son-in-law, Bill, loved the idea behind Kim and highly respected his father-in-law for having such great business sense, that two years ago he got his capital together and started his own transportation company. Jamie knew then what struggles Bill would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Kim was hurting, a little guy like Bill was about to catch his death. Perhaps the antidote to these problems was in freight factoring, and they were about to find out.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Jamie found himself beginning to dig his way out of the hole his delinquent account holders 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. Jamie recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. If Jamie hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

"

Columbus has a generally strong and diverse economy based on education, insurance, banking, fashion, defense, aviation, food, logistics, steel, energy, medical research, health care, hospitality, retail, and technology. Overall, it was ranked as one of the top 10 best big cities in the country in 2010, according to Relocate America, a real estate research firm. ranked Columbus and its metro area as the No. 7 best place in the country to operate a business in 2008. In 2012, Magazine ranked the city as the best city for working moms. In 2007, the city was ranked No. 3 in the United States by fDi magazine for ""Cities of the Future"", and No. 4 for most business-friendly in the country. Columbus was ranked as the seventh strongest economy in the United States in 2006, and the best in Ohio, according to Corp. In 2011, the Columbus metropolitan area's GDP was $94.7 billion, up from $90 billion in 2009, up from $85.5 billion in 2006, $75.43 billion in 2005, and $69.98 billion in 2001. SERS building, downtownDuring the recession beginning in late 2007, Columbus' economy was not impacted as much as the rest of the country, due to decades of diversification work by long-time corporate residents, business leaders, and political leaders. The current administration of mayor has continued this work, although the city faced financial turmoil and had to increase taxes, due in part to alleged fiscal mismanagement. Because Columbus is the state capital, there is a large government presence in the city. Including city, county, state, and federal employers, government jobs provide the largest single source of employment within Columbus.In 2013, the city had four corporations named to the U.S. Fortune 500 list: located in suburban Dublin. Other major employers in the area include numerous schools (for example, The Ohio State University) and hospitals, hi-tech research and development including the in Columbus. Major foreign corporations operating or with divisions in the city include .

 

"

 

More Trucking Factoring Companies Story Articles

Factoring in the Future of a Trucking Business: A Story Philip Bryant let the phone ring on his desk. His morning coffee cooled and his cigarette smoked away in the tray: Philip is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Bryant 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.

 

Philip�s father had started as an owner-operator and had grown Bryant 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 Philip's mother had jumped into the cab at times to make hauls. His father had worked long enough to see the price of hires drop dramatically during the recession and to see the explosion of fuel prices afterwards. But now things were different: the company was in Philip's hands and he needed to ensure that this business would be left in great shape for his sons.

 

There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. He had employees to pay. They had families and household bills too. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. Every time he had to turn down a request, Bryant Trucking looked weak in a very strong market.

 

His father would have told him to wait and to take his time adding on new technology. Philip chuckled, thinking about his father. His father had been against placing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. 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.

 

Philip believed a successful man is always thinking of his next step. How would he take Bryant Trucking to the next level? And how would he be able to afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

He wondered about factoring - was this the answer for him? 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. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Philip had to really consider what his next step was going to be. Philip had heard that there were companies that charged for same day money transfers and would only advance a percentage of the money owed to your company while holding the rest in a private account if they didn�t get their bill payment within 60 or so days. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

However, it all turned out to be very simple. 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. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. 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. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It sounded like a great scheme to him.

 

It was really refreshing dealing with the factoring people. They were extremely helpful and more personable than the bank staff. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar 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 Philip 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 Bryant Trucking and the factoring companies appeared capable of handling the accounts receivable in the same polite manner that his father had used over the years.

 

Feeling happier now, Philip 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. With the capabilities of this new cash flow, Philip could actually expand Bryant 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 would not be inheriting a financial mess.

 

 

 

View Our Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� Nicholas Hayes asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Nicholas smiled at him, shaking her head.�Not quite,� she stated.Nicholas Hayes 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 Arnold. His company was called Rogers Trucking, named after both of his grandfathers, Wallace and Dwayne. They had both been hardworking men, and had done a lot to make Nicholas the same.Six months ago disaster struck Arnold'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. Nicholas 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.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

Waiting a month or longer for bills to be paid was quite normal. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Nicholas was an excellent business man, and he certainly hadn't done anything wrong. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.That�s where the woman across the desk came in. Nicholas knew she was employed by a Factoring company and that her name was Amanda. Nicholas 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.Amanda explained. �It�s not a loan, we purchase your accounts receivable. we are not giving you finance to be repaid later: we are purchasing something from you, and when you can you can buy it back. That way we�re protected from a complete loss, but you�re protected from the outrageous fees you would find in a loan from the bank.Nicholas nodded. It sounded good to him, almost too good.Amanda laughed. �You look like you don�t believe me,� she chuckled.�Oh no, I do: it just sounds too good to be true. I actually thought I might end up losing my business.�Amanda nodded. �We get that a lot. Listen, I�d hate to see you lose your company. You work hard, you�ve put everything you can into it. We all need help sometimes. That's why we do what we do.""Well, I'm very grateful that you came to see me today.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Amanda with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Nicholas filled the form out, with Amanda available to help him if he needed it. The profile filled Amanda and her company in on Arnold�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. As Nicholas completed his form, Amanda listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Amanda took it and slid it into her briefcase. Standing up, she reached over the desk and shook Arnold's hand. He also stood up, and they smiled at each other. Nicholas walked Amanda to the door where they said 'Goodbye', then he went back into his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He leaned back and closed his eyes. He 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. Talking to Amanda though, learning about factoring, it felt like a weight had been lifted from his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.All those long, sleepless nights. The terrifying panic attacks that occurred regardless of where he was. Already he could feel all the stress start to drain away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.His mind wandered back to the very beginning, when he first started his business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been successful. Home cooking in his hometown, and he had done very well.But he had gotten bored. He wasn't passionate about the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took half a year off, and in that time he thought to start Rogers Trucking. So he did it. Once again he built 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 about to turn fifty. He was concerned that he just did not have the energy left to try and save the business. But giving up wasn't part of his personality either.

 

The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He did not want to quit - both for himself and for his staff members.And now it seemed as though he would not have to - all because of Factoring. Arnold's eyes opened, he sat forward in his chair and turned on his computer. He had lots to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

Why Truck Agencies Utilize Factoring Firms.

 

As the owner of your own business, you may likely be much more than knowledgeable already of the hardship in making sure that cash flow matters do not become a dilemma down the line. After all, the toughest thing that can potentially transpire for your company is to find yourself embroiled in a long and troublesome condition that leaves you forever trying to find the funds you are in need of on an ongoing manner.

 

For virtually any enterprise in this situation, the problem can come for waiting for work to clear up and actually be brought in into your balance. Bill of sales, checks, and the like could take a while to actually to beprocessed which could leave you with momentary available resources dilemmas. Fortunately, there are options out there for enterprises to investigate-- and among these is factoring firms.

 

Factoring companies will, in exchange for your accounts, give you with the finances right away so you do not need to worry about the lingering phase that could make paying the bills and getting materialsmore challenging. With this kind of arrangement, invoice factoring can become exceptionally helpful for numerous establishments who have to avoid a cash trap which they have found themselves in.

 

Due to the fact that, relying on the scale of the job, it can take up to 60 days for many firms to get compensated then it is critical to cover up your own back and definitely not leave yourself resources short to pay off the expenses. After all, how many enterprises have two months revenue just occupying there to cover all their expenditures until they make money?

 

This is primarily true of trucking establishments. They usually take care of tons of invoices which means a significant quantity of collection period involves business owner themselves. Trying to get paid out promptly can end up being an unbelievable hassle and this is precisely why you utilize trucking factoring companies who are happy to help out truckers mainly.

 

As all of us realize, trucking is an surprisingly enormous market with a lot of agencies out there hiring hundreds of drivers. The sad thing is, plenty of these drivers end up in money problems considering that they are still waiting for work from six weeks ago to actually pay them. When this is the condition for a trucking firm, resorting to factoring companies for support may be the very best choice left.

 

This indicates that a truck firm can compensate the paychecks of the people, keep all the cars filled with gas and continue to go up, evolve and expand without continually waiting for the funds which is taking too lengthy to come in. Trucking Companies functioning without a factoring program used are leaving themselves at substantial threat, as competitions cash out quickly and carry on to broaden.

 

There's genuinely very little to be worried about when it comes to employing a Factoring agency-- they commonly are not like a banking company or an individual who is going to leave you with a significant pile of debt to pay back. You give them genuine invoices from output you have already accomplished , you are merely facilitating the payment system.

 

In the Usa, where trucking companies do well, factoring providers are not considered getting a loan in any capacity. This confidential agreement then makes it possible for both groups to make money and experience a convenient future-- it provides the factoring provider a secured resource of earnings to add to the list and it offers the trucking firm the required money that they sweated to generate.

 

The trucking enterprise gives their invoices to the factoring business. The trucking factoring firm then acquire the installment payments from the trucking company's customers. Factoring has been all around for hundreds of years and has been utilized for decades by lots of varied business sectors-- but none exceeding so than truckers. While you may well lose out on a small part of the money, something like 1-3 % depending on who you team up with, it signifies that you are receiving the finances today and can actually begin putting the funds to perform.

 

After all, an IOU or an invoice is not going to fund bills, is it? For trucking firms when the cash can be fantastic one day and gone the next, it is up to the drivers to work smartly and to ensure they are leaving themselves with a significant quantity of time and finance to get through the week until they are handed over once more.

 

So the next period your trucking enterprise is enduring some short-term cash flow issues and you are devoting a lot of time chasing slow paying clients, why not start thinking of making use of a factoring companies as a means to get your money and give yourself a more convenient future in the eyes of your trucking team and your bank balance?

 

 

 

 

 

 

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Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. These loans can be a life-saver, but they're not always available to every business. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. 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 money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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

 

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

 

2. There's no collateral required. Another great benefit of using the services of a Trucking Factoring company instead of a bank loan is that there is no collateral required for the Trucking Factoring company, because the Trucking Factoring company is buying your accounts receivables. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This 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. 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. 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.You receive interest up-front. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you 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 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 good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

In addition, since the Trucking Factoring company evaluates the credit quality of your customers prior to purchasing the accounts receivable you gain valuable information into which customers are likely to pay and which ones are not so likely to pay.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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