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Do Your Receivables Turn as Quickly as You Would Like - Our Receivable Factoring Company Can Give
Your Trucking Company The Cash You Need

smallbusinessfactoring.org

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best trucking factoring

Small truck businesses, especially those who have not been in existence for really long, will commonly discover it difficult to secure a loan. Banks are frequently hesitant to lend cash to businesses that do not have a lot of earnings and properties. They likewise want evidence of the practicality of a business and therefore require that the majority of operations, especially small ones, been around for a specific quantity of time before they want to turn over any money. Due to the fact that of this, a small company frequently has few cash creating alternatives when requires emerge. One alternative available, but frequently overlooked, is invoice factoring. This is an exceptional method for a small company to obtain money.

 

 

 

 

 

 

 

How to Get Cash And Grow Your Company - Pick A Truck�Factoring Company  Instead Of A Regular Bank Financing

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

At one time or another, every company, even successful ones, have 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 locations you can get financing. Other solutions are available and you do not have to borrow. Exactly what is trucking factoring ? One option is called trucking factoring. Trucking Factoring is the procedure of offering invoices to an investor rather than waiting to collect the money from the client. Oh, the Irony- Trucking factoring has a paradoxical difference: It is the financial backbone of many of America's most successful businesses. Why is this ironic ? Because trucking factoring is not taught in business colleges, is rarely discussed in company strategies and is fairly unknown to bulk of most of American business people.

Yet it is a monetary procedure that releases up billions of dollars every year, allowing countless businesses to grow and succeed. FACTORING has been around for thousands of years. Trucking 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 to pay in the near future. Factoring Principals--Although factoring deals solely with business-to-business transactions, a big percentage of the retail business uses a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail deals. Utilizing the purest definition of the word, these big consumer finance business are truly simply big Factoring Companies of customer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The store makes money practically instantly, although you do not pay up until you are ready.

For this service, the charge card business charges Sears a fee (typical common normal fees range from 2 to four percent of the sale). The Benefits Accounts Receivable Factoring can offer many benefits to cash-hungry companies. Rather than wait 30, 60, 90 days or longer for payment on an item that has actually currently been provided, a business can factor (sell) its receivables for money at a little discount off the amount of the invoice. Payroll, marketing efforts, and working capital are simply a few of the business needs that can be satisfied with instant  cash.

Receivable Funding offers the ways for a manufacturer to replenish stock and make even more products to sell: There is no longer a need to wait for earlier sales to be paid. FACTORING is not just a money management tool for producers: Practically any kind company can benefit from Receivable Financing. Typically, a business that extends credit will have 10 to 20 percent of its annual sales bound in invoices at any given time. Think for a minute about exactly how much is tied up in 60 days' worth of invoices: You can not pay the power bill or this week s payroll with a customer s invoice, but you can offer that invoice for the money to meet those obligations. Using truck factoring companies is a fast and easy procedure. The factor buys the invoice at a discount, usually a few percentage points less than the face value of the invoice.

 

 

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The U.s. Trucking Organization
states that there are about
195,000 truck drivers with truck
firms and
250,000 private providers trucking
firms accredited to
run in America that transferred,
according to their most current data of millions
products, supplies and
basic materials .
There are several common
providers either going solo or in
teams on our nation
highways carrying these
crucial items to our
stores, factories and harbors.

Plus freight factoring
businesses aid
countless of them and offer their
factoring services
nationwideincluding
including the following states.

: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho State, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming

 

"

The economy of Oklahoma City, once just a regional power center of government and energy exploration, has since diversified to include the sectors of information technology, services, health services and administration. The city has three Fortune 500 companies: as well as several others that are in the Fortune 1000 along with numerous large privately owned companies. The city is home to the corporate headquarters of Sonic Drive-In, whose office building and corporate restaurant is located in the Bricktown district of downtown Oklahoma City.Other large employers in Oklahoma City include: According to the Oklahoma City Chamber of Commerce, the metropolitan area's economic output grew by 33 percent between 2001 and 2005 due chiefly to economic diversification. Its gross metropolitan product was $43.1 billion in 2005 and grew to $61.1 billion in 2009.In 2008, magazine named Oklahoma City the most ""recession proof city in America"". The magazine reported that the city had falling unemployment, one of the strongest housing markets in the country and solid growth in energy, agriculture and manufacturing. However, during the early 1980s, Oklahoma City had one of the worst job and housing markets due to the bankruptcy of Penn Square Bank in 1982 and then the post-1985 crash in oil prices.In 2013, ranked Oklahoma City No. 8 on its list of the Best Places for Business and Careers.Business districts[edit]See also: Neighborhoods of Oklahoma CityBusiness Districts, and to a lesser extent, neighborhoods tend to maintain their boundaries and character through the application of zoning regulations and Business Improvement Districts (districts where property owners agree to a property tax surcharge to support additional services for the community). Through zoning regulations, historic districts, and other special zoning districts, including overlay districts, are established. Oklahoma City currently has three Business Improvement Districts, including one encompassing the Central Business District

 

"

 

View Our 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:

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

 

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

 

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

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

 

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

 

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

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

 

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

 

 

"

Since the mid 1980s Pierce Truck & Haul have been successfully running their freight business. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the heady times from 2002 to 2007, Pierce 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. 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 down. Worse still, it was noticed by Pierce in early 2008 that even though most of their loyal customers were on time with their payments, there were a few late bloomers who were starting to spread the disease. Spring changed to summer, summer changed to fall, and the CEO of Pierce, Floyd Dunn, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The numbers of clients who owed him back debt were growing.He had already been to the administrators to ask what the actual problem was. Were they doing things different, or wrong, when it came to collecting overdue accounts? By his bookkeepers records, this wasn't the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. They could not afford to pay him their debt, but they could afford a lesser service, maybe. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Pierce hadn't gone elsewhere. The had just gone!.The situation looked dire to Floyd Dunn. There were goods to ship, employees to pay, trucks to repair and maintain, and continuous overheads that were very extensive when compared to the funds (or lack of) that were incoming. In the evenings he would discuss his concerns with his wife, Sally, and still find no relief from the worry and frustration.

 

""I have a bad feeling, Lin,"" he would say with deep woe.""What could you do differently?"" she would say.Floyd 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 on earth was happening to create the death of his business?""I think I know what it could be,"" Floyd said. ""I've relied too long on the profits I receive from invoices alone. I've let too many of our customers go too long without paying on their bills."" Linda could only grab her husband's hand and look at him lovingly, ""it is a hard economy. It might be awhile until things get settled up.

 

""Floyd knew very well that Sally 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 Floyd walked into his office with a spring in his step, determined to call each and every client who owed money to Pierce 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. A waste of time - a waste of money - he had the best intentions, but all the while Floyd was realising just how much trouble he was in.Poor Floyd 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.

 

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

 

""Of course Stella, please come in."" Floyd relaxed back into his chair and looked up at Stellaerley.""Well Floyd, this afternoon I did some research, trying to work out how we are going to get out of this mess."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard of factoring?"" she asked.""It does sound 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.""Floyd interrupted ""Immediately?"".""Immediately, yes"" she added, ""In a nutshell, it is pretty easy. We can have an expert account manager review our numbers and help us complete a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It provides a very broad view.""Floyd 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. The funding commences once we�ve arrived at an agreement.�Leaning forward, Floyd studied the documents very closely.""I do not know, Stella - it just sounds too good to be true"", Floyd 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. They appear to be very flexible, Floyd,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" he asked.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. It only takes 2 to 4 days for this to be figured out. ""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" Floyd said.He took a deep breath and looked at his secretary with something she recognized as hope.""Precisely�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Floyd thought about this and agreed with Stellaerley. The customers who were in debt to Pierce 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. Floyd knew only too well that the whole economy was floundering, and that it was not going to change overnight. 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 Stella, thank you."" Stella stood up and left Floyd's office, with the nice feeling of knowing that she may just have solved a very serious problem.Floyd sat behind his desk and looked over the details Stella had not mentioned in their meeting. What other issues could freight factoring help Pierce with? Running his pencil down the sheet, he noted that the freight factoring company could assist with fuel costs, fuel advances, and fuel discount cards. Floyd was surprised: it said that his company could get up to fifty percent cash advances on load pickups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""Well, I'll have to tell Calvin about this,"" muttered Floyd to himself.Calvin is Floyd's son-in-law, and he really admired the ideas behind Pierce, so much so that only two years before he had started his own transportation service business. At that time Floyd knew the struggles Calvin would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Pierce was hurting, a little guy like Calvin was about to catch his death. Perhaps the antidote to these problems was in freight factoring, and they were about to find out.Some months later, having successfully gone through the entire process of the application, having experts study his credit history and statements and review his accounts receivable, Floyd found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They used that time to refocus their efforts in being competitive in new territories. Floyd recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. If Floyd hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

"

The economy of Oklahoma City, once just a regional power center of government and energy exploration, has since diversified to include the sectors of information technology, services, health services and administration. The city has three Fortune 500 companies: as well as several others that are in the Fortune 1000 along with numerous large privately owned companies. The city is home to the corporate headquarters of Sonic Drive-In, whose office building and corporate restaurant is located in the Bricktown district of downtown Oklahoma City.Other large employers in Oklahoma City include: According to the Oklahoma City Chamber of Commerce, the metropolitan area's economic output grew by 33 percent between 2001 and 2005 due chiefly to economic diversification. Its gross metropolitan product was $43.1 billion in 2005 and grew to $61.1 billion in 2009.In 2008, magazine named Oklahoma City the most ""recession proof city in America"". The magazine reported that the city had falling unemployment, one of the strongest housing markets in the country and solid growth in energy, agriculture and manufacturing. However, during the early 1980s, Oklahoma City had one of the worst job and housing markets due to the bankruptcy of Penn Square Bank in 1982 and then the post-1985 crash in oil prices.In 2013, ranked Oklahoma City No. 8 on its list of the Best Places for Business and Careers.Business districts[edit]See also: Neighborhoods of Oklahoma CityBusiness Districts, and to a lesser extent, neighborhoods tend to maintain their boundaries and character through the application of zoning regulations and Business Improvement Districts (districts where property owners agree to a property tax surcharge to support additional services for the community). Through zoning regulations, historic districts, and other special zoning districts, including overlay districts, are established. Oklahoma City currently has three Business Improvement Districts, including one encompassing the Central Business District

 

"

 

More Trucking Factoring Companies Story Articles

"

Factoring in the Future of a Trucking Business: A Story The phone was ringing on his desk, and Paul Jackson just sat there letting it ring. His morning coffee cooled and his cigarette smoked away in the tray: Paul is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Jackson Trucking Company was at a turning point of growth and Paul had to decide if signing with a factoring company was the right way forward.

 

More than forty years ago Paul's father had started this business working as an owner-operator and eventually growing Jackson Trucking Company into a fifteen trailer fleet. There had been some hard times when it seemed everything was going to go under and even Paul�s mother strapped herself into a cab to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. Now the company was solely in Paul�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. His employees needed to be paid. They had families and household bills too. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. Every time he had to turn down a request, Jackson Trucking looked weak in a very strong market.

 

His father would have told him to wait and to take his time adding on new technology. Paul 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?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. He knew his father's days were long gone and new technology was very important for the business, like having Qualcomm to reduce communication time for bills of lading.

 

Paul knew he was right in his forward thinking. How would he take Jackson 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. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

But was factoring the answer? If he was being honest, he did not really understand how it all worked. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Now it was time for Paul to do his homework. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

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. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He was quite happy to sign an exclusive contract. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. Many companies offered a non-recourse factoring program that suited him just fine. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It sounded like a great scheme to him.

 

For Paul 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. Factoring was based on the credit of his customers and on their reliability which worked well for Paul 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 wouldn�t think poorly of Jackson Trucking and the factoring companies appeared capable of handling the accounts receivable in the same polite manner that his father had used over the years.

 

Feeling happier now, Paul stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. He suddenly realized that, with this new cash flow, he could actually expand Jackson Trucking Company and who knows, move into Canada, which had always been his dream. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

"

 

 

View Our Factoring Video For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� asked Cody Sanchez, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she stated.Cody Sanchez owned a small trucking company, and his business had recently fallen on difficult times. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Ernest. He named his business Ruiz Trucking, named after Gordon and Frederick, his two grandfathers. They had both been hardworking men, and had done a lot to make Cody the same.Six months ago disaster struck Ernest's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. Cody depended on his full fleet, and missing two trucks was devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Cody had on hand.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.Cody wasn�t a bad owner, and he hadn�t messed up. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.And that's why he found himself across the desk from this woman. Her name was Laura and she worked for a factoring company. He had accidentally come across her company one night when he was working late, searching the internet to see if there was some solution to his financial dilemma.She sat there now, and explained. �It�s not a loan, we purchase your accounts receivable. we are not giving you finance to be repaid later: we are purchasing something from you, and when you can you can buy it back. That way we�re protected from a complete loss, but you�re protected from the outrageous fees you would find in a loan from the bank.Cody nodded. It sounded good to him, almost too good.The woman laughed. �I'm not sure that you believe me,� she chuckled.�No, I do, I just think it sounds a bit too good to be true. I actually thought I might end up losing my business.�Laura smiled, agreeing. �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. Sometimes you need help. 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,� Laura said with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Cody completed the form, with Laura offering advice as needed.

 

The completed profile gave Laura and her company all the information they needed on Ernest'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. Listening as Cody filled out his form, Laura was pretty sure he was a perfect candidate for factoring.When the form was done Laura took it and slid it into her briefcase. She then stood, reached across the desk and shook Ernest�s hand. He also stood up, and they smiled at each other. They said their goodbyes and Cody walked her to the door, and then returned to his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He 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 Laura and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.All those long, sleepless nights. The terrifying panic attacks that occurred regardless of where he was. 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. At twenty-two and straight out of school he had opened a restaurant. It had been really successful. Offering home cooking in his own hometown, his business had really prospered.But it wasn't what he really wanted to do. He wasn't passionate about the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took six months off, and during that time he decided to create Ruiz 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.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 did not want to quit - both for himself and for his staff members.And now, because of factoring, he was sure he wouldn�t have to. Cody opened his eyes, sat forward, turned his computer on. He had lots to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

The reason why Trucking Firms Utilize Factoring Firms.

 

As the manager of your own business enterprise, you may likely be more than conscious already of the challenge in making sure that capital concerns do not become a difficulty down the line. After all, the most terrible thing that can in all probability develop for your enterprise is to find yourself dragged in a long and difficult circumstance that leaves you forever trying to find the funds you really need on an on-going basis.

 

For any sort of enterprise in this circumstance, the problem can come for waiting for work to clear up and actually be provided into your balance. Bill of sales, checks, and the like could take a long time to actually to beprocessed which can easily leave you with temporary capital issues. Luckily, there are solutions out there for businesses to look into-- and one of these is factoring companies.

 

Factoring agencies will, in exchange for your accounts, provide you with the cash asap to ensure that you do not need to fret about the waiting duration which could make paying off the expenses and acquiring toolsmore challenging. With this sort of setup, invoice factoring can end up being incredibly beneficial for plenty of enterprises who ought to avoid a money lure which they have gotten themselves in.

 

For the reason that, depending on the size of the task, it can take up to 60 days for some companies to get paid out then it is essential to take care of your own back and not leave yourself resources short to settle the costs. After all, how many businesses have two months earnings just lying there to handle all their bills till they earn?

 

This is especially correct of truck establishments. They often tend to manage numbers of statements which means a huge quantity of collection period concerns company owner themselves. Making an effort to get paid out promptly can eventually become an extraordinary headache and this is exactly why you employ truck factoring firms who are pleased to help out truckers exclusively.

 

As we all understand, trucking is an extremely large market with a lot of firms out there employing hundreds of operators. Unfortunately, numerous of these drivers wind up in money issues for the reason that they are still awaiting work from six weeks ago to actually pay them. When this is the situation for a trucking firm, depending on factoring providers for help may be the best choice left.

 

This implies that a trucking corporation can compensate the salaries of the work force, keep all the cars topped off with fuel and continue to escalate, develop and expand without consistently waiting for the income which is taking too prolonged to come in. Trucking Businesses operating without a factoring system implemented are leaving themselves at critical hazard, as rivals cash out rapidly and go on to broaden.

 

There's honestly nothing at all to be stressed about when it comes to employing a Factoring firm-- they commonly are not like a bank or any individual who is going to leave you with a significant mass of debt to repay. You give them legitimate invoices from work you have already finalized , you are just expediting the repayment process.

 

In the United states of America, where trucking companies prosper, factoring firms are not considered taking on loan in any capacity. This confidential settlement then permits both groups to profit and indulge in a comfortable future-- it gives the factoring provider a secured asset of income to put into the list and it furnishes the trucking company the needed funds that they sweated to obtain.

 

The trucking business presents their statements to the factoring firm. The trucking factoring company then collect the payments from the trucking company's customers. Factoring has beenaround for centuries and has been employed for decades by lots of various sectors-- but none exceeding so than truckers. While you might miss out on a small part of the money, something like 1-3 % depending upon who you partner with, it means that you are receiving the funds today and can actually begin setting the resources to perform.

 

After all, an IOU or an invoice is certainly not going to finance expenditures, is it? For trucking companies when the cash can be really good one day and gone the next, it is up to the drivers to work prudently and to make sure they are leaving themselves with a significant measure of time and finance to get through the week until they are paid for once more.

 

So the next period your trucking establishment is enduring some momentary cash flow problems and you are devoting excessive time chasing slowly paying customers, why not start off looking into employing a factoring companies as a manner to get your money and give yourself a more comfortable future in the eyes of your trucking personnel and your bank dividend?

 

 

 

 

 

 

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Traditional Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. 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. 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. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once 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

 

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

 

1. There is no debt. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. There's no collateral required. Another great benefit of using the services of a Trucking Factoring company instead of a bank loan is that there is no collateral required for the Trucking Factoring company, because the Trucking Factoring company is buying your accounts receivables. 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 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. Receive Your Money Faster. Using a Trucking Factoring company means that you'll get the finance quicker. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.

 

4.You receive interest up-front. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you do not have to continue to pay interest as they take it right off the top, deducting it from the total amount of accounts receivable. So you do not have to worry about monthly loan repayments, and you do not have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. 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.

 

In addition, since the Trucking Factoring company evaluates the credit quality of your customers prior to purchasing the accounts receivable you gain valuable information into which customers are likely to pay and which ones are not so likely to pay.A Trucking Factoring company is not the only method of gaining access to finance for the running and growing of your business, however it does offer a financing option well worth considering.

 

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