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You Can Laugh at Money Worries - if You Follow This Simple Plan - Our Receivable Factoring Company Can Give
Your Truck Company The Money Your Company Needs

factorinvoices.org

freight invoice factoring

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Small freight brokerage businesses, specifically those who have not been in existence for very long, will typically discover it difficult to secure a loan. Banks are commonly hesitant to provide money to companies that do not have a lot of earnings and possessions. They likewise want evidence of the practicality of a business and hence need that most operations, especially small ones, be in company for a specific amount of time before they are eager to hand over any money. Because of this, a medium-size business commonly has a couple of cash producing options when needs arise. One option readily available, however frequently ignored, is invoice factoring. This is an exceptional means for a small company to get money.

 

 

 

 

 

 

 

They Grinned When the Banker Spoke to Me in French - Pick An Accounts Receivable Factoring Company Instead Of A Typical Bank Financing

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

At one time or another, every company, even successful ones, have experienced bad money flow.

Cash flow does not have to be an issue any more. Do not be fooled -- banks are not the only places you can get funding. Other options are available and you do not have to borrow. What is truck factoring ? One solution is called trucking factoring. Truck Factoring is the procedure of selling invoices to an investor instead of waiting to gather the cash from the customer. Oh, the Irony- Truck factoring has a paradoxical distinction: It is the financial backbone of many of America's most effective businesses. Why is this paradoxical ? Because factoring is not instructed in business colleges, is rarely mentioned in business plans and is fairly unidentified to bulk of most of American business people.

Yet it is a financial process that frees billions of dollars every year, enabling thousands of businesses to grow and prosper. Commercial Factoring has actually been around for thousands of years. Receivable Loan Funding Companies are investors who pay cash for the right to get 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 exclusively with business-to-business deals, a large portion of the retail company utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a type of factoring in their retail deals. Using the purest meaning of the word, these big consumer finance business are really just big Receivable Loan Funding Companies of customer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The store gets paid practically immediately, although you do not pay until you are prepared.

For this service, the credit card company charges Sears a charge (typical common normal fees vary from 2 to four percent of the sale). The Advantages Accounts Receivable Factoring can provide many benefits to cash-hungry companies. Rather than wait 30, 60, 90 days or longer for payment on a product that has actually already been delivered, a business can factor (sell) its receivables for money at a small price cut off the dollar value of the invoice. Payroll, advertising efforts, and working capital are simply a few of the company needs that can be satisfied with instant  money.

Trucking Factoring offers the means for a manufacturer to replenish stock and make even more items to sell: There is no longer a need to wait for earlier sales to be paid. FACTORING is not simply a cash management device for producers: Almost any kind company can benefit from Truck Factoring. Generally, a company that extends credit will have 10 to 20 percent of its annual sales bound in accounts receivable at any given time. Think for a moment about exactly how much is bound in 60 days' worth of invoices: You can not pay the power bill or this week s payroll with a client s invoice, but you can offer that invoice for the cash to satisfy those responsibilities. Using truck factoring companies is a quick and easy procedure. The factoring company buys the invoice at a discount, usually a couple of portion points less than the face value of the invoice.

 

 

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albuquerque-factoring-companies

 

The American Trucking Organization
specifies that there around
195,000 truck drivers with truck
companies and
276,000 personal providers trucking
firms accredited to
run in the United States that carried,
according to their newest data of millions
items, supplies and
standard materials .
There are numerous typical
carriers either going solo or in
teams on our country
highways transporting these
crucial items to our
shops, manufacturingplants and harbors.

And freight bill factoring
corporations service
countless of them and offer their
factoring facilities
nationallycomprising
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

 

"

Albuquerque lies at the center of the New Mexico Technology Corridor, a concentration of high-tech private companies and government institutions along the Rio Grande. Larger institutions whose employees contribute to the population are numerous and include Sandia National Laboratories, Kirtland Air Force Base, and the attendant contracting companies which bring highly educated workers to a somewhat isolated region. Intel operates a large semiconductor factory or ""fab"" in suburban Rio Rancho, in neighboring Sandoval County, with its attendant large capital investment. Northrop Grumman is located along I-25 in northeast Albuquerque, and TempurPedic is located on the West Mesa next to I-40.The solar energy and architectural-design innovator Steve Baer located his company, Zomeworks, to the region in the late 1960s; and Los Alamos National Laboratory, Sandia, and Lawrence Livermore National Laboratory cooperate here in an enterprise that began with the Manhattan Project. In January 2007, opened an 800,000-square-foot (74,000 m2) mattress factory in northwest Albuquerque. ., announced in January 2008 they will open a 200,000-square-foot (19,000 m2) facility manufacturing receivers for concentrated solar thermal power plants (CSP) and 64MW of photovoltaic (PV) modules. The facility closed in 2012. Magazine rated Albuquerque as the best city in America for business and careers in 2006 and as the 13th best (out of 200 metro areas) in 2008. The city was rated seventh among America's Engineering Capitals in 2014 by Magazine. Albuquerque ranked among the Top 10 Best Cities to Live by & World Report in 2009 and was recognized as the fourth best place to live for families by the TLC network. It was ranked among the Top Best Cities for Jobs in 2007 and among the Top 50 Best Places to Live and Play by National Geographic Adventure magazine.

 

"

 

Watch Our Freight Factoring YouTube Videos For More Information

 

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

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

 

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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

 

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

 

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

 

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

 

"

Robinson 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 boom times from 2002 to 2007 Robinson Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. Cash was flowing and times were good for all.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed to a crawl

 

. And worse yet, Robinson had noticed during the early part of 2008 that though the bulk of their clients were always on time with payments, the few late-bloomers there were, had seemingly started to spread this illness. And as spring turmed to summer and summer into the early days of fall, Brian Knight, CEO of Robinson 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 Robinson 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. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Robinson hadn't gone elsewhere. They had just gone home.The situation looked dire to Brian Knight. Brian 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. At night he would speak to his wife Sharon and shake his head in frustration.

 

""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""What could you do differently?"" she would say.Brian would stare off for a moment and then close eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them on the road, delivering good to all his loyal customers. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. Why couldn�t he work out how to resolve this financial problem with his business?""I know what it is,"" said Brian. ""For way too long I've been relying solely on profits received from invoices. I've let too many of our customers go too long without paying on their bills."" All Sharon could do was hold his hand and look at him tenderly. 'We know it is a difficult economy at the moment - perhaps it will take a while for people to get on top of their bills'.""Brian knew his wife meant well, but he knew that he was responsible for too many people to sit idly by, waiting for the sun to peak over the clouds.The following day Brian walked into his office with a spring in his step, determined to call each and every client who owed money to Robinson Truck & Haul. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. Wasting money, wasting time - even with the best of intentions, Brian knew that he was in trouble.

 

Poor Brian spent the whole morning trying in vain to contact his debtors: they promised to call back, dodged his calls, or made small interest-only payments. He was beginning to feel quite despaired when his secretary knocked on his door.

 

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

 

""Sure thing Claudia, come on in."" Brian leaned back in his chair and looked expectantly at Claudiaerely.""Well Brian, this afternoon I did some research, trying to work out how we are going to get out of this mess."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard the word factoring?"" she asked.""It does sound vaguely familiar. What is factoring""? he asked.""Well,"" she began, ""It�s actually quite simple really.

 

Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Immediately?"" Brian interrupted.""Immediately, yes"" she added, ""it is actually very simple. We can have an expert account manager review our numbers and help us complete a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It provides a very broad view.""I see,� Brian said. �And then what?""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. This company tells us what the cost will be to purchase factoring for our accounts receivable. We come to an agreement and the funding starts pouring out.�Brian was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Claudia,"" he said.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Brian: 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. And they're flexible Brian,"" 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,"" said Brian.He took a deep breath and looked at his secretary with something she recognized as hope.""Exactly�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Brian took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Robinson 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. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. Of course he did not want to lose any more money, but he did not want to lose business either.""Well, let me think about this tonight Claudia, thank you."" Claudia nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Brian sat behind his desk and looked over the details Claudia had not mentioned in their meeting. What other issues could freight factoring help Robinson 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. In fact, Robinson could receive up to fifty-percent cash advances upon load pick-ups. Brian 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.""Well, I'll have to tell Fred about this,"" muttered Brian to himself.Fred is Brian's son-in-law, and he really admired the ideas behind Robinson, so much so that only two years before he had started his own transportation service business. Brian knew then what struggles Fred would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Robinson was hurting, a little guy like Fred was about to catch his death. But, an antidote may have been found in freight factoring and Brian was soon 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, Brian found himself beginning to dig his way out of the hole his delinquent account holders had created for him.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They took that time and refocused effort to offering competitive prices in new territories. Brian looked back on the dismal months of life before freight factoring and almost shuddered at the thought. If Brian hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

"

Albuquerque lies at the center of the New Mexico Technology Corridor, a concentration of high-tech private companies and government institutions along the Rio Grande. Larger institutions whose employees contribute to the population are numerous and include Sandia National Laboratories, Kirtland Air Force Base, and the attendant contracting companies which bring highly educated workers to a somewhat isolated region. Intel operates a large semiconductor factory or ""fab"" in suburban Rio Rancho, in neighboring Sandoval County, with its attendant large capital investment. Northrop Grumman is located along I-25 in northeast Albuquerque, and TempurPedic is located on the West Mesa next to I-40.The solar energy and architectural-design innovator Steve Baer located his company, Zomeworks, to the region in the late 1960s; and Los Alamos National Laboratory, Sandia, and Lawrence Livermore National Laboratory cooperate here in an enterprise that began with the Manhattan Project. In January 2007, opened an 800,000-square-foot (74,000 m2) mattress factory in northwest Albuquerque. ., announced in January 2008 they will open a 200,000-square-foot (19,000 m2) facility manufacturing receivers for concentrated solar thermal power plants (CSP) and 64MW of photovoltaic (PV) modules. The facility closed in 2012. Magazine rated Albuquerque as the best city in America for business and careers in 2006 and as the 13th best (out of 200 metro areas) in 2008. The city was rated seventh among America's Engineering Capitals in 2014 by Magazine. Albuquerque ranked among the Top 10 Best Cities to Live by & World Report in 2009 and was recognized as the fourth best place to live for families by the TLC network. It was ranked among the Top Best Cities for Jobs in 2007 and among the Top 50 Best Places to Live and Play by National Geographic Adventure magazine.

 

"

 

More Trucking Factoring Companies Story Articles

"

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

 

More than forty years ago Sean's father had started this business working as an owner-operator and eventually growing Gonzales Trucking Company into a fifteen trailer fleet. Yes, they had survived some very difficult times when it appeared like they might go under, and even Sean's mother had jumped into the cab at times to make hauls. His father had worked long enough to see the price of hires drop dramatically during the recession and to see the explosion of fuel prices afterwards. Now the company was solely in Sean�s hands and he wanted to live to see it in better shape for his sons.

 

To move Gonzales Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. He had employees to pay. They all have families and the usual household bills. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. Every time he had to turn down a request, Gonzales Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Sean allowed himself a good hard chuckle. His father had been against placing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). He knew his father's days were long gone and new technology was very important for the business, like having Qualcomm to reduce communication time for bills of lading.

 

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

 

He wondered about factoring - was this the answer for him? There was a lot he didn�t understand about the process. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of 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 the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Now it was time for Sean to do his homework. Sean 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. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

But it turned out to be quite easy. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He was quite happy to sign an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he 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. Many companies offered a non-recourse factoring program that suited him just fine. He was more than happy with the figures he was offered in percentage terms on the freight bills. It sounded like a great scheme to him.

 

For Sean 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 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 Sean 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 Gonzales 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, Sean 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. He suddenly realized that, with this new cash flow, he could actually expand Gonzales Trucking Company and who knows, move into Canada, which had always been his dream. His heart felt full knowing his sons wouldn�t have to worry about money because of the right decisions he had made for their trucking business.

 

"

 

 

View Our Trucking Factoring Companies Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So, this is not a loan?� asked Jim Simmons, reclining back into his chair and crossing his legs. The woman sitting across the desk from Jim smiled at him, shaking her head.�Not quite,� she stated.Jim was the owner of a small trucking company which had fallen on some hard times recently. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Edgar. He named his business Watkins Trucking, named after Edgarua and Henry, his two grandfathers. Both of these men had been very hardworking and had set a great example for Edgar.Disaster had struck half a year ago, when two trucks in Edgar�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. Jim depended on his full fleet, and missing two trucks was devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

You could go a month or more before bills were completely paid off. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Jim 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.That�s where the woman across the desk came in. Jim knew she was employed by a Factoring company and that her name was Gina. Jim had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.She sat there now, and explained. �it is really not a loan at all: we actually buy your accounts receivable. we 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.Jim agreed. It sounded perfect - perhaps too good?.Gina laughed. �I'm not sure that you 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.�Gina nodded. �Yes, we get a lot of that. 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,� Gina said with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Jim completed the form, with Gina offering advice as needed.

 

The completed profile gave Gina and her company all the information they needed on Edgar's business, and with this information they would determine if this business would in fact be suitable for Factoring. In truth, not all companies were. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. Listening as Jim filled out his form, Gina was pretty sure he was a perfect candidate for factoring.Gina took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Edgar's hand. He also stood up, and they smiled at each other. Jim walked Gina to the door where they said 'Goodbye', then he went back into his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He leaned back and closed his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. Talking to Gina 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 sudden panic attacks, not matter 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 there, he was on the right path, and he was working to make things right.His mind wandered back to the very beginning, when he first started his business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been really successful. Offering home cooking in his own hometown, his business had really prospered.But it wasn't what he really wanted to do. He wasn't passionate about the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took half a year off, and in that time he thought to start Watkins Trucking. So he did it. For the second time in his short life he created a company from the ground up. He had been successful.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was nearing fifty. He was concerned that he just did not have the energy left to try and save the business. But giving up wasn't part of his personality either.

 

Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He didn�t know how to say quit.And now, because of factoring, he was sure he wouldn�t have to. Jim opened his eyes, sat forward, turned his computer on. He had things to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

Reasons why Truck Agencies Use Factoring Companies.

 

As the owner of your own company, you may well be much more than conscious already of the hardship in making certain that capital concerns do not become a problem down the line. After all, the most terrible thing that can quite possibly take place for your establishment is to find yourself involved in a long and challenging circumstance that leaves you forever searching for the money you need to have on an on-going manner.

 

For pretty much any firm in this condition, the problem can come for waiting for work to lapse and actually be paid out into your bank account. Statements, checks, and the like could take a long time to actually to beprocessed which could leave you with short-term cash flow issues. Luckily, there are approaches out there for establishments to delve into-- and one of these is factoring agencies.

 

Factoring agencies will, in trade for your bill of sales, provide you with the funds today so you do not have to fret about the lingering time span that could make paying out the bills and purchasing toolsmore complicated. With this form of arrangement, invoice factoring can become tremendously practical for countless enterprises who have to get out of a cash pitfall which they have found themselves in.

 

Given that, depending upon the scale of the job, it can take up to 60 days for a number of business enterprises to get compensated then it is critical to cover up your own back and certainly not leave yourself cash short to pay the bills. After all, how many companies possess two months earnings just occupying there to handle all their expenses until they make money?

 

This is specifically true of truck establishments. They often handle numbers of accounts which means a significant quantity of collection period entails company owner themselves. Seeking to get compensated promptly can come to be an amazing headache and this is the key reasons why you utilize trucking factoring providers who are delighted to help out truckers particularly.

 

As all of us determine, trucking is an remarkably big industry with countless organizations out there utilizing hundreds of drivers. Sadly, numerous of these drivers end up in money issues since they are still waiting for work from six weeks previously to actually compensate them. When this is the scenario for a trucking business, resorting to factoring providers for reinforcement might be the very best alternative left.

 

This indicates that a truck business can pay out the paychecks of the staff, keep all the cars refilled with fuel and continue to surmount, grow and expand without continually waiting for the money which is taking too long to come in. Trucking Business enterprises working without a factoring program established are leaving themselves at critical hazard, as competitors cash out rapidly and carry on to expand.

 

There's absolutely nothing at all to be distressed about when it comes to working with a Factoring company-- they are not like a financial institution or someone who is going to leave you with a big heap of financial obligation to pay back. You give them legitimate invoices from work you have already wrapped up , you are merely hastening the payment system.

 

In the United States, where truck establishments succeed, factoring companies are not considered taking on loan in any capacity. This confidential settlement then allows both parties to benefit and enjoy a good future-- it gives the factoring firm a warranted asset of earnings to put into the list and it supplies the trucking firm the required money that they sweated to acquire.

 

The trucking company presents their accounts to the factoring business. The trucking factoring agency then obtain the installment payments from the trucking company's clients. Factoring has beenaround for hundreds of years and has been utilized for decades by a lot of varying sectors-- but none exceeding so than truckers. While you may miss out on a small part of the money, something like 1-3 % depending upon who you team up with, it signifies that you are obtaining the cash today and can actually start off setting the money to do work.

 

Anyway, an IOU or an invoice is not actually going to finance spendings, is it? For trucking establishments when the income can be really good one day and gone the next, it is up to the drivers to work smartly and to ascertain they are leaving themselves with a significant measure of time and finance to get through the week up until they are handed over again.

 

So the next moment your trucking business is having some momentary capital troubles and you are spending a lot of time chasing slow paying customers, why not begin looking at utilizing a factoring businesses as a method to get your money and give yourself a more at ease future in the eyes of your trucking workers and your bank dividend?

 

 

 

 

 

 

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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. 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.

 

What Are 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 you have set up Trucking Factoring account it continues as long as you wish it too and the amount of money available to you even can grow as your business grows, giving you the ready cash you need to meet your own obligations.

 

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. You will not Incur 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. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

2. No Collateral Required. Another great benefit of using the services of a Trucking Factoring company instead of a bank loan is that there is no collateral required for the Trucking Factoring company, because the Trucking Factoring company is buying your accounts receivables. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This 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. Receive Your Money Faster. With a Trucking Factoring company you can actually get the money you need faster. 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 from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

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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