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Get Rid of Those Receivables! - Our Receivable Financing Company Can Provide
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Small freight brokerage companies, particularly those who have actually not been around for very long, will typically find it tough to secure a loan. Banks are frequently hesitant to lend money to businesses that do not have a lot of earnings and possessions. They also want evidence of the viability of a business and therefore require that many operations, particularly little ones, been around for a certain quantity of time prior to they are prepared to turn over any cash. Since of this, a small company typically has few cash producing choices when requires emerge. One alternative offered, however often ignored, is invoice factoring. This is an outstanding way for a small company to get cash.

 

 

 

 

 

 

 

Free Book Tells You 12 Secrets of Better Cash Flow - Choose A Freight Bill�Factoring Company  Instead Of A Traditional Bank Financing

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

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

Cash flow does not have to be a problem any ever more. Do not be fooled -- banks are not the only locations 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 truck factoring. Trucking Factoring is the procedure of selling invoices to a financier instead of waiting to collect the cash from the customer. Oh, the Irony- Trucking factoring has a paradoxical difference: It is the financial foundation of numerous of America's most successful businesses. Why is this paradoxical ? Since trucking factoring is not taught in business colleges, is rarely mentioned in company plans and is fairly unknown to bulk of most of American business individuals.

Yet it is a monetary procedure that releases up billions of dollars every year, enabling thousands of companies to grow and prosper. Staffing Factoring has actually been around for thousands of years. Staffing Factoring Companies are investors 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 client has actually agreed pay in the near future. Factoring Principals--Although factoring deals solely with business-to-business deals, a large portion of the retail business uses a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail deals. Utilizing the purest meaning of the word, these large consumer finance business are truly simply big Receivable Financing Companies of consumer paper. Consider it: You make a purchase at Sears and charge it to your MasterCard. The store gets paid almost instantly, even though you do not pay up until you are prepared.

For this service, the charge card business charges Sears a fee (typical common normal charges vary from 2 to four percent of the sale). The Advantages Truck Factoring can offer numerous advantages to cash-hungry business. Instead of waiting 30, 60, 90 days or longer for payment on a product that has actually currently been provided, 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 simply a few of the company requirements that can be met with instant  cash.

Trucking Factoring provides the means for a producer to replenish stock and make even more products to sell: There is no longer a need to await for earlier sales to be paid. FACTORING is not just a cash management device for manufacturers: Almost any type business can benefit from Invoice Factoring. Typically, a company that extends credit will have 10 to 20 percent of its yearly sales bound in accounts receivable at any given time. Think for a moment about how much is bound in 60 days' worth of invoices: You can not pay the power bill or this week s payroll with a customer s invoice, but you can sell that invoice for the money to meet those responsibilities. Using trucking factoring companies is a quick and simple procedure. The factoring company purchases the invoice at a discount, typically a couple of percentage points less than the stated value of the invoice.

 

 

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The United states Truck Organization
mentions that there are about
195,000 work with truck
firms and
300,000 personal service providers trucking
firms accredited to
run in America that carried,
according to their latest searchings for billions of
products, materials and
fundamental products .
There are numerous common
carriers either going solo or in
teams on our country
roads carrying these
vital products to our
stores, manufacturing facilities and ports.

Furthermore freight invoice factoring
companies aid
several of them and offer their
accounts receivablesfinancing services
nationwideincluding
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

 

"

Baton Rouge , French for ""Red Stick,"" is the capital of the U.S. state of Louisiana and its second-largest city. The seat of East Baton Rouge Parish, the city is located on the banks of the Mississippi River.As the ""Capital City,"" Baton Rouge is the political hub for Louisiana, and is the second largest metropolitan city in the state with a growing population of 230,058 people as of 2012. The metropolitan area surrounding the city, known as Greater Baton Rouge, has a population of 815,298 people as of 2012. The urban area has around 594,309 inhabitants.Baton Rouge is a major industrial, petrochemical, medical, research, motion picture, and growing technology center of the American South. The Port of Baton Rouge is the ninth largest in the United States in terms of tonnage shipped, and is the farthest tream Mississippi River port capable of handling Panamax ships.The Baton Rouge area owes its historical importance to its site upon the Istrouma Bluff, the first natural bluff upriver from the Mississippi River Delta, that provided the city�s residents a safe business quarter from flooding. In addition, the city built a levee system stretching from the bluff southward to protect the riverfront and low-lying agricultural areas. The city is a culturally rich center, having lived under seven different governments: French, English, Spanish, West Floridian, Louisiana, Confederate, and American.

 

"

 

View Our Factoring YouTube Video For More Information

 

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

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

 

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

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

 

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.

 

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.

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.

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.

 

"

Hart Truck & Haul have been operating their business since the mid 1980s. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the heady times from 2002 to 2007, Hart was a top rated accounts receivable mastermind of the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. 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 Hart 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 Hart, Dan Patterson, 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. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Hart money had jumped ship and decided to leave him holding the bag.

 

. They could not afford to pay him their debt, but they could afford a lesser service, maybe. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Hart hadn't gone elsewhere. The had just gone!.The situation looked dire to Dan Patterson. 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, Dana, and still find no relief from the worry and frustration.

 

""I have a bad feeling, Lin,"" he would say with deep woe.""What could you do differently?"" she would ask.Dan would stare off for a moment and then close eyes. He could see the fleet of trucks he had purchased over the years. He could see them traveling, bringing goods to all of his clients. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. Why couldn�t he work out how to resolve this financial problem with his business?""I think I know what it could be,"" Dan said. ""I've relied too long on the profits I receive from invoices alone. I've let too many of our customers go too long without paying on their bills."" Linda could only grab her husband's hand and look at him lovingly, ""it is a hard economy. It might be awhile until things get settled up.

 

""Dana was trying so hard to support her husband in these worrying times, while Dan was weighed down with the worry of how he was going to handle this situation he found himself in.The next day Dan strolled into his office and was determined to sit down and make every phone call to every client who had owed Hart money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Dan 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 Dan 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 Carlaerley knocked at his door.

 

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

 

""Sure thing Carla, come on in."" Dan leaned back in his chair and looked expectantly at Carlaerely.""Well Dan, this afternoon I did some research, trying to work out how we are going to get out of this mess."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard the word factoring?"" she asked.""It sounds vaguely familiar. What is factoring""? he asked.She began, ""Well, it is really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Dan interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""In a nutshell, it is pretty easy. We can have an expert account manager review our numbers and help us complete a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It provides a very broad view.""Dan replied cautiously ""I see - and what happens then?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

The company will advise us the cost to purchase factoring for our company's accounts receivable. We come to an agreement and the funding starts pouring out.�Dan was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Carla,"" he said.""Now, now, I know, I thought the same thing. But think about it, Dan: they've guaranteed that experts will do all the paperwork, and that will free us up to do what we should be doing - focusing on our customers in good standing, and that kind of stuff. They appear to be very flexible, Dan,"" she underlined a paragraph on the paper before him.""How flexible?"" he asked.""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. It only takes 2 to 4 days for this to be figured out. ""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" said Dan.Dan took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Precisely�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Dan took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Hart Truck & Haul were professional resources of the company, but they were also long-standing friends. They did not want to throw away these relationships because they were having trouble paying their bills now. Dan 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. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all 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 Carla, thank you."" Carla stood up and left Dan's office, with the nice feeling of knowing that she may just have solved a very serious problem.Dan 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 Hart Truck & Haul with? With his pencil gliding down the sheet he noticed that the factoring company could help fray the cost of fuel with fuel discount cards and fuel advances. Dan was surprised: it said that his company could get up to fifty percent cash advances on load pickups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""I must tell Reginald the good news,"" muttered Dan to himself.His son-in-law Reginald had liked the idea of Hart so much and revered his father in law for having such business acumen that only two years before, he had gathered the venture capital to begin his own transportation service company. At that time Dan knew the struggles Reginald would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Hart was hurting, a little guy like Reginald was about to catch his death. Perhaps the antidote to these problems was in freight factoring, and they were about to find out.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Dan 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 took that time and refocused effort to offering competitive prices in new territories. Dan looked back on the dismal months of life before freight factoring and almost shuddered at the thought. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

"

Baton Rouge , French for ""Red Stick,"" is the capital of the U.S. state of Louisiana and its second-largest city. The seat of East Baton Rouge Parish, the city is located on the banks of the Mississippi River.As the ""Capital City,"" Baton Rouge is the political hub for Louisiana, and is the second largest metropolitan city in the state with a growing population of 230,058 people as of 2012. The metropolitan area surrounding the city, known as Greater Baton Rouge, has a population of 815,298 people as of 2012. The urban area has around 594,309 inhabitants.Baton Rouge is a major industrial, petrochemical, medical, research, motion picture, and growing technology center of the American South. The Port of Baton Rouge is the ninth largest in the United States in terms of tonnage shipped, and is the farthest tream Mississippi River port capable of handling Panamax ships.The Baton Rouge area owes its historical importance to its site upon the Istrouma Bluff, the first natural bluff upriver from the Mississippi River Delta, that provided the city�s residents a safe business quarter from flooding. In addition, the city built a levee system stretching from the bluff southward to protect the riverfront and low-lying agricultural areas. The city is a culturally rich center, having lived under seven different governments: French, English, Spanish, West Floridian, Louisiana, Confederate, and American.

 

"

 

More Trucking Factoring Companies Story Articles

"

Factoring in the Future of a Trucking Business: A Story The phone was ringing on his desk, and Duane Banks 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. Banks Trucking Company was at a turning point of growth and Duane had to decide if signing with a factoring company was the right way forward.

 

Duane�s father had started as an owner-operator and had grown Banks 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 Duane�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 Duane�s hands and he wanted to live to see it in better shape for his sons.

 

To move Banks 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. Every time he had to turn down a request, Banks Trucking looked weak in a very strong market.

 

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

 

Duane believed a successful man is always thinking of his next step. How would he take Banks 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. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

He wondered about factoring - was this the answer for him? If he was being honest, he did not really understand how it all worked. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. 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 this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Now it was time for Duane to do his homework. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. 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 didn�t mind signing an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. 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 more personable than those loan managers at the bank. 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 Duane because he and his father had created a very strong and loyal list of clientele over the years. So he knew they would understand when the factoring company contacted them for the invoices. His clients would not have any problems, nor would they think poorly of Banks Trucking, because the factoring companies handle themselves in such a polite and professional manner, similar to the way his father had managed the business in the past.

 

Duane stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. 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, Duane could actually expand Banks 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.

 

"

 

 

Watch Our Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� Cecil Berry asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Cecil smiled at him, shaking her head.�Not quite,� she stated.Cecil was the owner of a small trucking company which had fallen on some hard times recently. Trucking could be a profitable business, and for a little under a decade, it had been for Steven. His company was called Hale Trucking, named after both of his grandfathers, Dwight and Steven. Both of these men had been very hardworking and had set a great example for Steven.Disaster had struck half a year ago, when two trucks in Steven�s fifteen truck fleet went down. One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. Cecil depended on his full fleet, and missing two trucks was devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.A big problem a lot of trucking companies came across was how bills were paid in the industry. 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.Cecil wasn�t a bad owner, and he hadn�t messed up. 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.And that's why he found himself across the desk from this woman. Her name was Lucille and she worked for a factoring company. He had accidentally come across her company one night when he was working late, searching the internet to see if there was some solution to his financial dilemma.She sat there now, and explained. �it is really not a loan at all: we actually buy 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. This is a win-win situation: we are protected from a total loss, and you're protected from the ridiculous fees and charges you'd have to pay if you borrowed from a bank.Cecil agreed. It sounded perfect - perhaps too good?.The woman laughed. �You look like you don�t believe me,� she said.�Oh no, I do: it just sounds too good to be true. I actually thought I might end up losing my business.�Lucille smiled, agreeing. �We get that a lot. Listen, I�d hate to see you lose your company. We know how hard you work, and that you've invested everything in your business. 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.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� Lucille said with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Cecil completed the form, with Lucille offering advice as needed.

 

The profile filled Lucille and her company in on Steven�s company, and would help them determine if he was suitable for factoring. Unfortunately, not all companies are. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. Listening as Cecil filled out his form, Lucille was pretty sure he was a perfect candidate for factoring.Lucille took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Steven's hand. He stood before they shook as well, and then smiled. Cecil walked Lucille 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 shut 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 Lucille though, learning about factoring, it felt like a weight had been lifted from his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.The long nights, where he couldn�t sleep. The terrifying panic attacks that occurred regardless of where he was. He could feel it all fading away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.His mind wandered back to the very beginning, when he first started his business. At twenty-two and straight out of school he had opened a restaurant. It had been successful. Offering home cooking in his own hometown, his business had really prospered.But he had gotten bored. His passion didn�t lie with 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 Hale 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.And then the trucks went down, and his success looked to be in flux. 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 didn�t know how to say quit.And now, because of factoring, he was sure he wouldn�t have to. Steven'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.

 

"

 

 

 

More Trucking Factoring Company Story Articles

The key reasons why Trucking Companies Work with Factoring Companies.

 

As the manager of your own company, you may likely be more than conscious already of the difficulty in making sure that cash flow matters do not become a dilemma down the line. After all, the toughest thing that can quite possibly develop for your enterprise is to find yourself embroiled in a long and challenging circumstance that leaves you forever trying to find the cash you require on an continuing basis.

 

For virtually any firm in this position, the problem can come for waiting for work to clear up and actually be compensated into your account. Bill of sales, checks, and the like could take a while to actually to beprocessed which may leave you with momentary capital difficulties. Gratefully, there are solutions out there for enterprises to investigate-- and one of these is factoring firms.

 

Factoring agencies will, in substitution for your accounts, grant you with the finances asap in order that you do not need to stress over the waiting period which could make paying off the expenses and purchasing toolsmore difficult. With this type of system, invoice factoring can become extremely valuable for numerous companies who need to avoid a money lure which they have found themselves in.

 

Given that, basing on the volume of the task, it can take up to 60 days for some firms to get paid out then it is crucial to blanket your own back and definitely not leave yourself money short to pay the bills. After all, how many business enterprises have two months revenue just lying there to pay for all their spendings until they earn?

 

This is primarily true of trucking agencies. They generally handle good deals of invoices which means a considerable quantity of collection period demands business owner themselves. Trying to get paid promptly can come to be an unbelievable trouble and this is precisely why you work with truck factoring providers who are pleased to help out truckers particularly.

 

As all of us recognize, trucking is an amazingly huge business with a lot of firms out there utilizing hundreds of vehicle drivers. Sadly, quite a few of these drivers land up in income problems considering that they are still awaiting work from six weeks ago to actually compensate them. When this is the scenario for a trucking agency, consulting factoring providers for solutions might be the ideal option left.

 

This signifies that a trucking organization can pay the wages of the work force, keep all the vehicles loaded with fuel and continue to escalate, thrive and expand without constantly waiting for the funds which is taking too long to come in. Trucking Firms operating without a factoring system put in place are leaving themselves at substantial risk, as rivals cash out quickly and go on to expand.

 

There's honestly almost nothing to be troubled about when it comes to employing a Factoring business-- they usually are not like a bank or somebody who is going to leave you with a considerable pile of debt to repay. You give them authentic invoices from output you have already finalized , you are only facilitating the repayment system.

 

In the Usa, where trucking firms flourish, factoring firms are not considered borrowing in any capacity. This confidential settlement then allows both parties to profit and delight in a good future-- it gives the factoring provider a guaranteed resource of earnings to put into the list and it provides the trucking business the needed money that they worked hard to obtain.

 

The trucking business gives their invoices to the factoring agency. The trucking factoring provider then take the payment amounts from the trucking company's clients. Factoring has been in existence for centuries and has been employed for many years by a lot of varied business-- but none much more so than truckers. While you might lose out on a small part of the money, something like 1-3 % depending on who you deal with, it signifies that you are getting the finances today and can actually start putting the resources to do work.

 

After all, an IOU or an invoice is definitely not going to finance bills, is it? For trucking enterprises when the funds can be great one day and gone the next, it is up to the drivers to work sensibly and to make sure they are leaving themselves with a considerable amount of time and money to get through the week until they are handed over once more.

 

So the next occasion your trucking company is enduring some temporary capital issues and you are spending an excessive amount of time chasing slowly paying clients, why not start off taking into consideration using a factoring businesses as a means to get your money and give yourself a more pleasant future in the eyes of your trucking team and your bank difference?

 

 

 

 

 

 

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Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. While these loans are handy they are not available to every business. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. 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 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

 

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

 

1. There is no debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

2. There's no collateral required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. 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 is 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. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. 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 you do not have to worry about monthly loan repayments, and you do not have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The 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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