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What Your Banker Doesn't Want You to Know - Our Receivable Financing Company Can Give
Your Trucking Company The Cash You Need

factoringinformation.org

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Trucking Factoring is beneficial for a number of factors. It permits a truck firm to raise cash without obtaining new debt. While financial obligation is sometimes required, many truck companies would choose to raise cash without borrowing money. Financial obligation is risky, and when it can not be repaid, possessions can be repossessed. If the financial obligation is big enough, it might even force a freight brokerage out of business.

 

 

 

 

 

 

 

The Secret to Being Wealthy - Select An Invoice Factoring Company Instead Of A Typical Bank Financing

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

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

Money flow does not have to be an issue any ever more. Do not be fooled -- banks are not the only places you can get funding. Other options are available and you do not have to borrow. What is trucking factoring ? One option is called trucking factoring. Truck Factoring is the procedure of offering invoices to a financier rather than waiting to gather the cash from the client. Oh, the Irony- Truck factoring has an ironic distinction: It is the financial backbone of many of America's most effective businesses. Why is this ironic ? Since accounts receivable factoring is not instructed in business colleges, is seldom discussed in company plans and is fairly unidentified to bulk of most of American business people.

Yet it is a monetary procedure that frees billions of dollars every year, allowing thousands of companies to grow and succeed. Receivable Loan Funding has actually been around for thousands of years. Truck Factoring Companies are financiers who pay cash for the right to get the future payments on your invoices. An unpaid receivable or invoice has value. It is a debt your client has actually agreed pay in the near future. Factoring Principals--Although factoring offers solely with business-to-business transactions, a large portion of the retail business uses a factoring principal. MasterCard, Visa, and American Express all utilize a type of factoring in their retail transactions. Utilizing the purest definition of the word, these large customer finance companies are really simply big Receivable Funding Companies of customer paper. Think about 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 ready.

For this service, the charge card business charges Sears a charge (typical common normal fees range from two to four percent of the sale). The Benefits Invoice Factoring can provide numerous benefits to cash-hungry business. Instead of waiting 30, 60, 90 days or longer for payment on an item that has actually currently been delivered, a company can factor (sell) its receivables for cash at a small discount off the amount of the invoice. Payroll, advertising efforts, and working capital are simply a few of the business needs that can be satisfied with instant  cash.

Account Receivable Financing provides the means for a producer to renew inventory and make more items to sell: There is no longer a need to await for earlier sales to be paid. FACTORING is not simply a cash management device for producers: Almost any kind company can take advantage of Receivable Financing. Typically, a business 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 exactly how much is tied up in 60 days' worth of invoices: You can not pay the power expense or today s payroll with a customer s invoice, however you can offer that invoice for the cash to meet those responsibilities. Using truck factoring companies is a quick and easy process. The factor buys the invoice at a discount, typically a couple of portion points less than the face value of the invoice.

 

 

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The American Trucking Association
specifies that there are about
200,000 employees with freight trucking
companies and
276,000 private providers trucking
companies accredited to
run in the United States that transported,
according to their most current data of millions
items, materials and
standard materials .
There are numerous common
carriers either going solo or in
groups on our nation
highways transporting these
important products to our
stores, manufacturing facilities and shipping ports.

Furthermore trucking factoring
businesses aid
countless of them and offer their
factoring facilities
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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More than 100,000 people commute to Newark on weekdays, making it the state's largest employment center with many white-collar jobs in insurance, finance, import-export, health-care, and government. As a major courthouse venue including federal, state, and county facilities, it is home to more than 1,000 law firms. The city is also a ""college town"", with nearly 40,000 students attending the city's universities and medical and law schools. Its port and rail facilities make Newark the busiest transhipment hub on the East Coast in terms of volume.Though Newark is not the industrial colossus of the past, the city does have a considerable amount of industry and light manufacturing. The southern portion of the Ironbound, also known as the Industrial Meadowlands, has seen many factories built since World War II, including a large brewery. The service industry is also growing rapidly, replacing those in the manufacturing industry, which was once Newark's primary economy. In addition, transportation has become a large business in Newark, accounting for more than 17,000 jobs in 2011.Newark is one of nine cities in New Jersey designated as eligible for Urban Transit Hub Tax Credits by the state's Economic Development Authority. Developers who invest a minimum of $50 million within 0.5 miles of a train station are eligible for pro-rated tax credit. Since the election of Cory Booker there has been millions of dollars of public-private partnership investment in Downtown development but persistent underemployment continue to characterize many of the city's neighborhoods. Poverty remains a consistent problem in Newark. As of 2010, roughly one-third of the city's population is impoverished.Newark is the third-largest insurance center in the United States, after New York City and Hart. The companies originated in the city. The former, one of the largest insurance companies in the world, has its ""home office in Newark and is constructing a new office tower. Many other companies are headquartered in the city, In addition to other benefits to encourage employment within the Zone, shoppers can take advantage of a reduced 3�% sales tax rate (versus the 7% rate charged statewide) at eligible merchants. While for years there was a dearth of supermarkets, since the millennium new ones have opened or are planning to, (1990 pop. 275,221), seat of Essex co., NE N.J., on the Passaic River and Newark Bay; settled 1666, inc. as a city 1836. It is a port of entry and the largest city in the state. Located only 8 mi (13 km) W of New York City, Newark is a transportation, industrial, commercial, and manufacturing center. Its leather industry dates from the 17th cent., and its still-significant jewelry manufactures and insurance businesses began in the early 19th cent. Among the city's many other products are beer, cutlery, electronic equipment, textiles, pharmaceuticals, fabricated metal items, and paints. Newark International Airport is one of the nation's busiest, and the important seaport is operated by the Port Authority of New York and New Jersey. The city has a large minority population; over 50% of its residents are African Americans and about 30% are Hispanic. Newark's educational institutions include a campus of Rutgers Univ., the New Jersey Institute of Technology, a campus of the Univ. of Medicine and Dentistry of New Jersey, and a preparatory academy founded in 1774. The New Jersey Devils professional hockey team plays in the city.Landmarks include Trinity Cathedral (1810, with the spire of a church built in 1743); the Sacred Heart Cathedral (begun 1899, completed 1954); the First Presbyterian Church (1791); the Newark Public Library (founded 1888); the Newark Museum (1909); and the county courthouse (1906), with Gutzon Borglum's statue of Lincoln in front. Other points of interest include Borglum's large group Wars of America (1926) in Military Park (a Revolutionary War drilling ground and a Civil War tenting area) and many historic homes. Aaron Burr and Stephen Crane were born in Newark.The city was settled (1666) by Puritans from Connecticut under Robert Treat. It was the scene of Revolutionary skirmishes. Industrial growth began after the American Revolution, aided by the development of transportation facilities. The Morris Canal was opened in 1832, and the railroads arrived in 1834 and 1835. A flourishing shipping business resulted, and Newark became the area's industrial center. In the late 19th cent. its industry was further developed, especially through the efforts of such men as Seth Boyden and J. W. Hyatt. Newark Port opened in 1915, and the city's shipbuilding played an important role in World War I.During the latter half of the 20th cent., Newark's economy and living standards greatly declined. Many residents fled to the suburbs, which were marked by a boom in corporate development, shopping center growth, and housing construction. Poverty and unemployment plagued Newark, which in July, 1967, was the scene of a major race riot. Two bright spots have been the port, which since 1985 has had a steady increase in volume of exports of containerized cargo, and Newark International Airport, which has expanded greatly. As part of an effort to revitalize the downtown, the New Jersey Performing Arts Center opened in 1997; an indoor arena and outdoor stadium have been constructed since then

 

"

 

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

 

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

 

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.

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

 

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

 

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.

 

 

"

Marshall Truck & Haul have been operating their 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, Marshall 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. Times were great for everyone, and the cash was flowing.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed down. Worse still, it was noticed by Marshall 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. And as spring turmed to summer and summer into the early days of fall, Travis Riley, CEO of Marshall felt a chill go down his spine whenever he would look at the weekly A/R reports. The number of clients who were late in their payments was continuing to grow.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? When checking his bookkeeper's records this was definitely not 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 Marshall money had jumped ship and decided to leave him holding the bag.

 

. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. The had just gone!.The situation looked dire to Travis Riley. Travis 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, Sherry, and neither were unable to stop the constant worry over the lack of funds.""Lin, I have a really bad feeling,"" he would say with deep woe.""Well, what do you think it is?"" she would say.Travis would stare off into the distance, and then slowly close his eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them traveling, bringing goods to all of his clients. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. What could cause this ultimate death spiral of business?""I know what it is,"" Travis 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."" Sherry 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'.""Travis knew very well that Sherry 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 Travis walked into his office with a spring in his step, determined to call each and every client who owed money to Marshall Truck & Haul. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. 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 Travis 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 Deboraherley knocked at his door.

 

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

 

""Sure thing Deborah, come on in."" Travis leaned back in his chair and looked expectantly at Deboraherely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Travis."" 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?"" Deboraherley 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.""Travis interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""In a nutshell, it is pretty easy. 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. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.""Travis replied cautiously ""I see - and what happens then?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. There�s a lot of flexibility depending on the business volume and credit histories. The company will advise us the cost to purchase factoring for our company's accounts receivable. We come to an agreement and the funding starts pouring out.�Travis leaned forward and reviewed the paperwork closely.""I do not know, Deborah - it just sounds too good to be true"", Travis said quietly.""Now, now, I know, I thought the same thing. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. And they're flexible Travis,"" she underlined a paragraph on the paper before him.""Just 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. ""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,"" Travis said.Travis 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.""Travis thought about this and agreed with Deboraherley. The customers who were in debt to Marshall Truck & Haul were professional resources of the company, but they were also long-standing friends. Travis wasn't prepared to lose these relationships just because they were having financial issues at the moment. Travis 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. Of course he did not want to lose any more money, but he did not want to lose business either.""Well, let me think about this tonight Deborah, thank you."" Deborah stood up and left Travis's office, with the nice feeling of knowing that she may just have solved a very serious problem.Travis 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 Marshall 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. Travis was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Travis 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 Jay the good news,"" muttered Travis to himself.Travis's son-in-law, Jay, loved the idea behind Marshall 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. At that time Travis knew the struggles Jay would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Marshall was hurting, a little guy like Jay 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, Travis found himself beginning to dig his way out of the hole his delinquent account holders had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They took that time and refocused effort to offering competitive prices in new territories. Travis looked back on the dismal months of life before freight factoring and almost shuddered at the thought. He probably wouldn't be in business today had he not learned just in time about freight factoring.

 

"

 

"

More than 100,000 people commute to Newark on weekdays, making it the state's largest employment center with many white-collar jobs in insurance, finance, import-export, health-care, and government. As a major courthouse venue including federal, state, and county facilities, it is home to more than 1,000 law firms. The city is also a ""college town"", with nearly 40,000 students attending the city's universities and medical and law schools. Its port and rail facilities make Newark the busiest transhipment hub on the East Coast in terms of volume.Though Newark is not the industrial colossus of the past, the city does have a considerable amount of industry and light manufacturing. The southern portion of the Ironbound, also known as the Industrial Meadowlands, has seen many factories built since World War II, including a large brewery. The service industry is also growing rapidly, replacing those in the manufacturing industry, which was once Newark's primary economy. In addition, transportation has become a large business in Newark, accounting for more than 17,000 jobs in 2011.Newark is one of nine cities in New Jersey designated as eligible for Urban Transit Hub Tax Credits by the state's Economic Development Authority. Developers who invest a minimum of $50 million within 0.5 miles of a train station are eligible for pro-rated tax credit. Since the election of Cory Booker there has been millions of dollars of public-private partnership investment in Downtown development but persistent underemployment continue to characterize many of the city's neighborhoods. Poverty remains a consistent problem in Newark. As of 2010, roughly one-third of the city's population is impoverished.Newark is the third-largest insurance center in the United States, after New York City and Hart. The companies originated in the city. The former, one of the largest insurance companies in the world, has its ""home office in Newark and is constructing a new office tower. Many other companies are headquartered in the city, In addition to other benefits to encourage employment within the Zone, shoppers can take advantage of a reduced 3�% sales tax rate (versus the 7% rate charged statewide) at eligible merchants. While for years there was a dearth of supermarkets, since the millennium new ones have opened or are planning to, (1990 pop. 275,221), seat of Essex co., NE N.J., on the Passaic River and Newark Bay; settled 1666, inc. as a city 1836. It is a port of entry and the largest city in the state. Located only 8 mi (13 km) W of New York City, Newark is a transportation, industrial, commercial, and manufacturing center. Its leather industry dates from the 17th cent., and its still-significant jewelry manufactures and insurance businesses began in the early 19th cent. Among the city's many other products are beer, cutlery, electronic equipment, textiles, pharmaceuticals, fabricated metal items, and paints. Newark International Airport is one of the nation's busiest, and the important seaport is operated by the Port Authority of New York and New Jersey. The city has a large minority population; over 50% of its residents are African Americans and about 30% are Hispanic. Newark's educational institutions include a campus of Rutgers Univ., the New Jersey Institute of Technology, a campus of the Univ. of Medicine and Dentistry of New Jersey, and a preparatory academy founded in 1774. The New Jersey Devils professional hockey team plays in the city.Landmarks include Trinity Cathedral (1810, with the spire of a church built in 1743); the Sacred Heart Cathedral (begun 1899, completed 1954); the First Presbyterian Church (1791); the Newark Public Library (founded 1888); the Newark Museum (1909); and the county courthouse (1906), with Gutzon Borglum's statue of Lincoln in front. Other points of interest include Borglum's large group Wars of America (1926) in Military Park (a Revolutionary War drilling ground and a Civil War tenting area) and many historic homes. Aaron Burr and Stephen Crane were born in Newark.The city was settled (1666) by Puritans from Connecticut under Robert Treat. It was the scene of Revolutionary skirmishes. Industrial growth began after the American Revolution, aided by the development of transportation facilities. The Morris Canal was opened in 1832, and the railroads arrived in 1834 and 1835. A flourishing shipping business resulted, and Newark became the area's industrial center. In the late 19th cent. its industry was further developed, especially through the efforts of such men as Seth Boyden and J. W. Hyatt. Newark Port opened in 1915, and the city's shipbuilding played an important role in World War I.During the latter half of the 20th cent., Newark's economy and living standards greatly declined. Many residents fled to the suburbs, which were marked by a boom in corporate development, shopping center growth, and housing construction. Poverty and unemployment plagued Newark, which in July, 1967, was the scene of a major race riot. Two bright spots have been the port, which since 1985 has had a steady increase in volume of exports of containerized cargo, and Newark International Airport, which has expanded greatly. As part of an effort to revitalize the downtown, the New Jersey Performing Arts Center opened in 1997; an indoor arena and outdoor stadium have been constructed since then

 

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More Trucking Factoring Companies Story Articles

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

 

Don�s father had started as an owner-operator and had grown Mason 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 Don�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 Don�s hands and he wanted to live to see it in better 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. He knew that turning down these requests made Mason Trucking look inefficient and weak in what was currently a strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Don 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?� 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). 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.

 

Don knew he was right in his forward thinking. How would he take Mason 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.

 

But was factoring the answer? 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. 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. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Don had to really consider what his next step was going to be. Don 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! 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. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He was quite happy to sign an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. 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.

 

For Don it was quite a relief to be dealing with the factoring company. 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 didn�t worry over his credit and the debt troubles his father had had in the past of the company. Factoring was based on the credit of his customers and on their reliability which worked well for Don because he and his father had built up good strong relationships over decades with their list of clients. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients would not have any problems, nor would they think poorly of Mason Trucking, because the factoring companies handle themselves in such a polite and professional manner, similar to the way his father had managed the business in the past.

 

Feeling happier now, Don stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. With the capabilities of this new cash flow, Don could actually expand Mason 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.

 

 

 

 

 

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Trucking Factoring  Articles

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

 

One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. Mark depended on his full fleet, and missing two trucks was devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.A big problem a lot of trucking companies came across was how bills were paid in the industry. You could go a month or more before bills were completely paid off. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Mark was an excellent business man, and he certainly hadn't done anything wrong. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.And that's why he found himself across the desk from this woman. Mark knew she was employed by a Factoring company and that her name was Sylvia. Mark had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.Sylvia explained. �it is really not a loan at all: we actually buy your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. This is a win-win situation: we are protected from a total loss, and you're protected from the ridiculous fees and charges you'd have to pay if you borrowed from a bank.Mark nodded. It sounded perfect - perhaps too good?.The woman laughed. �You look like you don�t believe me,� she said.�No, I do, I just think it sounds a bit too good to be true. I thought I was going to lose my company.�Sylvia nodded. �Yes, we get a lot of that. Listen, I�d hate to see you lose your company. You work hard, you�ve put everything you can into it. We all need help sometimes. That�s what we�re here for.""In any case, thank you for coming to see me.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� Sylvia said with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Mark filled the form out, with Sylvia available to help him if he needed it. The completed profile gave Sylvia and her company all the information they needed on Chris's business, and with this information they would determine if this business would in fact be suitable for Factoring. Unfortunately, not all companies are. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. As Mark completed his form, Sylvia listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Sylvia took it and slid it into her briefcase. She then stood, reached across the desk and shook Chris�s hand. He stood before they shook as well, and then smiled. They said their goodbyes and Mark walked her to the door, and then returned to his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He shut his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. But now, after speaking to Sylvia and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.All those long, sleepless nights. The terrifying panic attacks that occurred regardless of where he was. Already he could feel all the stress start to drain away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was there, he was on the right path, and he was working to make things right.His mind wandered back to the very beginning, when he first started his business. At twenty-two and straight out of school he had opened a restaurant. It had been successful. Offering home cooking in his own hometown, his business had really prospered.But it wasn't what he really wanted to do. He wasn't passionate about the food industry. He thought long and hard, and then he decided to sell the restaurant. He took half a year off, and in that time he thought to start Martin Trucking. And that's exactly what he did. For the second time in his short life he created a company from the ground up. The business had been an instant success.And then the trucks went down, and his success looked to be in flux. He was nearing fifty. He was concerned that he just did not have the energy left to try and save the business. But he couldn�t give up. The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He didn�t know how to say quit.And now it seemed as though he would not have to - all because of Factoring. Chris's eyes opened, he sat forward in his chair and turned on his computer. He had things to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

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More Trucking Factoring Company Story Articles

The reason why Truck Corporations Work with Factoring Firms.

 

As the operator of your own firm, you may perhaps be much more than conscious already of the difficulty in making sure that cash flow matters do not become a difficulty down the line. After all, the most disappointing thing that can possibly happen for your business is to find yourself dragged in a long and problematic circumstance that leaves you forever trying to find the resources you necessitate on an continuing manner.

 

For just about any firm in this condition, the concern can come for waiting for work to lapse and actually be repaid into your account. Statements, checks, and the like can take a long time to actually to beprocessed which can leave you with momentary cash flow problems. Thank goodness, there are options out there for businesses to look into-- and one of these is factoring companies.

 

Factoring agencies will, in substitution for your accounts, provide you with the cash money today to make sure that you do not need to stress over the waiting time frame which could make paying out the expenses and getting toolsmore complicated. With this style of system, invoice factoring can end up being remarkably valuable for several firms who have to get out of a cash pitfall which they have gotten themselves in.

 

Simply because, depending on the scale of the job, it can take up to 60 days for some companies to get paid out then it is critical to take care of your own back and not leave yourself funds short to settle the expenses. After all, how many firms have two months earnings just lying there to handle all their expenditures till they earn?

 

This is most notably correct of truck firms. They often take care of great deals of statements which means a significant volume of collection time concerns business owner themselves. Making an effort to get compensated promptly can develop into an extraordinary headache and this is the reason why you work with trucking factoring providers who are delighted to help out truckers mainly.

 

As we all understand, trucking is an surprisingly enormous business with a lot of companies out there employing hundreds of vehicle drivers. Unfortunately, many of these drivers wind up in cash difficulties due to the fact that they are still awaiting work from six weeks back to actually pay them. When this is the condition for a truck organization, turning to factoring firms for reinforcement may be the most effective option left.

 

This indicates that a truck corporation can provide the paychecks of the people, keep all the cars topped off with fuel and continue to escalate, evolve and expand without always waiting for the funds which is taking too prolonged to come in. Trucking Enterprises working without a factoring system applied are leaving themselves at significant hazard, as contenders cash out fast and continue to grow.

 

There's absolutely nothing to be stressed about when it comes to utilizing a Factoring firm-- they are not like a banking company or somebody who is going to leave you with a significant stack of debt to repay. You give them genuine invoices from work you have already finalized , you are simply accelerating the repayment system.

 

In the United states of America, where truck establishments flourish, factoring agencies are not considered taking on loan in any capacity. This private agreement then makes it possible for both groups to profit and experience a good future-- it provides the factoring business a warranted asset of revenue to include in the list and it gives the trucking firm the required cash that they sweated to gain.

 

The trucking business presents their invoices to the factoring agency. The trucking factoring company then take the payment amounts from the trucking company's clients. Factoring has beenaround for hundreds of years and has been employed for decades by numerous varying business-- 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 collaborate with, it implies that you are getting the money today and can actually start setting the resources to work.

 

Once and for all, an IOU or an invoice is definitely not going to finance expenses, 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 smartly and to make certain they are leaving themselves with a notable volume of time and finance to get through the week till they are handed over once more.

 

So the next period your trucking establishment is enduring some momentary capital troubles and you are spending too much time chasing slowly paying customers, why not begin thinking of employing a factoring businesses as a way to get your cash and give yourself a more at ease future in the eyes of your trucking crew 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. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Once the loan is paid off, you can then apply for another loan if the need arises.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not offer loans, and you do not go into debt when you get money from a Trucking Factoring company. 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?

 

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. 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. 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 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. 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. 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 do not have to continue to pay interest as they take it right off the top, deducting it from the total amount of accounts receivable. So not only are you relieved of those monthly loan payments, but you also do not have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

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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