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Receivables Mysteriously Disappear from the Books - Our Receivable Loan Company Can Give
Your Trucking Company The Cash You Want

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Small freight brokerage companies, particularly those who have not been around for very long, will frequently discover it hard to secure a loan. Banks are typically hesitant to provide money to businesses that do not have a great deal of income and properties. They likewise want proof of the viability of a company and hence require that the majority of operations, particularly little ones, been around for a particular amount of time prior to they are ready to hand over any money. Due to the fact that of this, a medium-size company frequently has a couple of cash generating options when needs arise. One option offered, however frequently ignored, is receivable Financing. This is an exceptional way for a small business to obtain cash.

 

 

 

 

 

 

 

Business Owners! Want Quick Curls? - Pick An Invoice Factoring Company Instead Of A Typical Bank Funding

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

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

Cash flow does not have to be a problem any more. Do not be fooled -- banks are not the only places you can get funding. Other solutions are available and you do not have to borrow money. What is trucking factoring ? One option is called truck factoring. Truck Factoring is the process of offering accounts receivable to a financier rather than waiting to collect the money 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 ironic ? Since truck factoring is not taught in business colleges, is seldom discussed in company strategies and is relatively unknown to the majority of most of American business individuals.

Yet it is a monetary process that frees billions of dollars every year, allowing thousands of companies to grow and succeed. Trucking Factoring has been around for countless years. Accounts Receivable Factoring Companies are investors 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 customer has agreed pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business transactions, a big percentage of the retail business uses a factoring principal. MasterCard, Visa, and American Express all utilize a type of factoring in their retail transactions. Using the purest meaning of the word, these big consumer finance companies are really just big Staffing Factoring Companies of customer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The shop gets paid practically immediately, although you do not make payment up until you are ready.

For this service, the credit card company charges Sears a charge (typical common normal fees range from two to four percent of the sale). The Advantages Factoring can provide many advantages to cash-hungry companies. Instead of waiting 30, 60, 90 days or longer for payment on an item that has 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 just a few of the company needs that can be satisfied with instant  cash.

Receivable Funding offers the ways for a producer to replenish stock and make even more products to sell: There is no longer a need to await for earlier sales to be paid. FACTORING is not just a cash management device for producers: Almost any type business can benefit from Factoring. Typically, a business that extends credit will have 10 to 20 percent of its yearly sales tied up in invoices at any given time. Think for a minute about how much is bound in 60 days' worth of invoices: You can not pay the power bill or today s payroll with a customer s invoice, however you can sell that invoice for the money to satisfy those obligations. Using truck factoring companies is a quick and simple process. The factor purchases the invoice at a price cut, typically a couple of percentage points less than the stated value of the invoice.

 

 

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The U.s. Trucking Organization
states that there around
195,000 workers with freight trucking
companies and
300,000 personal providers trucking
firms certified to
operate in the U.S. that transported,
according to their newest data of millions
products, materials and
fundamental products .
There are several typical
providers either going solo or in
groups on our country
highways carrying these
vital items to our
shops, factories and ports.

And freight factoring
corporations help
numerous of them and offer their
receivables financing facilities
countrywidecounting
including the following states.

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

 

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Plano is a city in the state of Texas, located mostly within Collin County. The city's population was 269,776 at the 2010 census, making it the ninth most populous city in the state of Texas (Corpus Christi is ranked at #8 and Laredo is ranked at #10) and the 70th most populous city in the United States. Plano is located within the metropolitan area commonly referred to as the Dallas�Fort Worth metroplex. The city is home to many corporate headquarters: . It was also selected as the safest city in America in 2010 and 2011 by . Plano schools consistently score among the highest in the nation. It has been rated as the wealthiest city in the United States by CNN Money, and the United States Census Bureau declared Plano the wealthiest city of 2008 by comparing the median household income for all U.S. cities whose populations were greater than 250,000. In 2008, .com selected Plano, University Park, and Highland Park as the three ""Top Suburbs To Live Well"" of Dallas. The annual Plano Balloon Festival and the Plano International Festival are two of the city's premiere cultural and entertainment events.Plano (pla'no) [key], city (1990 pop. 128,713), Collin co., N Tex., less than 20 mi (32 km) NE of Dallas; inc. 1873. In a farm and livestock area on the blackland prairie, Plano is a booming financial and commercial center, with headquarters of many large national corporations. Among its manufactures are plumbing supplies; paper, medical, and metal products; cable; and communications equipment. The city was reached by railroad in 1872 but was almost destroyed by fire in 1881. Major urban growth began in the 1970s; large office complexes and housing developments were constructed in the late 20th cent. as the Dallas�Fort Worth metropolitan area burgeoned. Plano remains one of the fastest-growing U.S. cities.

 

"

 

View Our Trucking Factoring Companies 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:

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.

 

Click below to find Trucking Companies in the United States:

Trucking Companies serving to/from points within the United States,
categorized by services offered. United States Trucking
Companies will be listed under all categories in which they provide specified Trucking Services.
To find companies offering specific Trucking Services in the United States, click on the list of services below.

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

 

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

 

 

"

Alexander Truck and Haul has been in business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the heady times from 2002 to 2007, Alexander was a top rated accounts receivable mastermind of 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. Times were great for everyone, and the cash was flowing.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed down. Worse still, it was noticed by Alexander in early 2008 that even though most of their loyal customers were on time with their payments, there were a few late bloomers who were starting to spread the disease. And as spring turmed to summer and summer into the early days of fall, Chris Harrison, CEO of Alexander 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? By his bookkeepers records, this wasn't the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Alexander hadn't gone elsewhere. The had just gone!.To Chris Harrison the situation looked desperate. Chris 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 Diana and shake his head in frustration.

 

""I have a bad feeling, Lin,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would say.Chris 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 traveling, bringing goods to all of his clients. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What could cause this ultimate death spiral of business?""I think I know what it could be,"" said Chris. ""For way too long I've been relying solely on profits received from invoices. For too long I've been allowing our clients to let their accounts become overdue."" All Diana 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'.""Chris knew very well that Diana 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 next day Chris strolled into his office and was determined to sit down and make every phone call to every client who had owed Alexander money. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. A waste of time - a waste of money - he had the best intentions, but all the while Chris was realising just how much trouble he was in.After a half day of contacting debtors in vain - they dodged his calls or promised to call back at worst or made minimal interest-only payments at best - he was about to throw in the towel when his secretary Lucilleerley knocked at his door.

 

""Can I have a word with you Chris?"" she asked standing in the doorway.

 

""Sure thing Lucille, come on in."" Chris leaned back in his chair and looked expectantly at Lucilleerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Chris."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard the word factoring?"" Lucilleerley 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?"" Chris interrupted.""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�s a broad view.""Chris replied cautiously ""I see - and what happens then?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. 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. The funding commences once we�ve arrived at an agreement.�Chris was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Lucille,"" he said.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Chris: 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 Chris,"" 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. Apparently they can figure this all out in two to four days.

 

""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. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" said Chris.He took a deep breath and looked at his secretary with something she recognized as hope.""Exactly�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Chris took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Alexander Truck & Haul were professional resources of the company, but they were also long-standing friends. Chris wasn't prepared to lose these relationships just because they were having financial issues at the moment. Chris knew only too well that the whole economy was floundering, and that it was not going to change overnight. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. He did not want to lose business but he also did not want to lose any more money.""Well, let me think about this tonight Lucille, thank you."" Lucille nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Chris keep the shirt on his back, and possibly hers too.Chris stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. He wondered if there might be other problems freight factoring could help Alexander Truck & Haul with? With his pencil gliding down the sheet he noticed that the factoring company could help fray the cost of fuel with fuel discount cards and fuel advances. In fact, Alexander could receive up to fifty-percent cash advances upon load pick-ups. 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 Ron about this,"" Chris muttered to himself.Chris's son-in-law, Ron, loved the idea behind Alexander and highly respected his father-in-law for having such great business sense, that two years ago he got his capital together and started his own transportation company. At that time Chris knew the struggles Ron would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Alexander was struggling then the little guys, like Ron, were going to be in even more trouble. But, maybe the answer for both of them was in freight factoring, and Chris was going to find out very soon.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Chris was beginning to find his way out of the hole his debtors had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They took that time and refocused effort to offering competitive prices in new territories. Chris looked back on the dismal months of life before freight factoring and almost shuddered at the thought. He probably wouldn't be in business today had he not learned just in time about freight factoring.

 

"

 

"

Plano is a city in the state of Texas, located mostly within Collin County. The city's population was 269,776 at the 2010 census, making it the ninth most populous city in the state of Texas (Corpus Christi is ranked at #8 and Laredo is ranked at #10) and the 70th most populous city in the United States. Plano is located within the metropolitan area commonly referred to as the Dallas�Fort Worth metroplex. The city is home to many corporate headquarters: . It was also selected as the safest city in America in 2010 and 2011 by . Plano schools consistently score among the highest in the nation. It has been rated as the wealthiest city in the United States by CNN Money, and the United States Census Bureau declared Plano the wealthiest city of 2008 by comparing the median household income for all U.S. cities whose populations were greater than 250,000. In 2008, .com selected Plano, University Park, and Highland Park as the three ""Top Suburbs To Live Well"" of Dallas. The annual Plano Balloon Festival and the Plano International Festival are two of the city's premiere cultural and entertainment events.Plano (pla'no) [key], city (1990 pop. 128,713), Collin co., N Tex., less than 20 mi (32 km) NE of Dallas; inc. 1873. In a farm and livestock area on the blackland prairie, Plano is a booming financial and commercial center, with headquarters of many large national corporations. Among its manufactures are plumbing supplies; paper, medical, and metal products; cable; and communications equipment. The city was reached by railroad in 1872 but was almost destroyed by fire in 1881. Major urban growth began in the 1970s; large office complexes and housing developments were constructed in the late 20th cent. as the Dallas�Fort Worth metropolitan area burgeoned. Plano remains one of the fastest-growing U.S. cities.

 

"

 

More Trucking Factoring Companies Story Articles

Factoring in the Future of a Trucking Business: A Story Francisco Holmes let the phone ring on his desk. He let his morning coffee cool and left his cigarette to ash itself in the tray, because he is trying to make the biggest decision ever for his trucking company. Holmes 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 Francisco's father had started this business working as an owner-operator and eventually growing Holmes Trucking Company into a fifteen trailer fleet. There had been some hard times when it seemed everything was going to go under and even Francisco�s mother strapped herself into a cab to make hauls. His father had worked long enough to see the price of hires drop dramatically during the recession and to see the explosion of fuel prices afterwards. But now things were different: the company was in Francisco's hands and he needed to ensure that this business would be left in great shape for his sons.

 

To move Holmes Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. He had employees to pay. They had families and household bills too. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. Every time he had to turn down a request, Holmes Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Francisco chuckled, thinking about his father. He remembered when his father was totally against installing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). His father days were long gone and technology was actually an important improvement for the business such as having Qualcomm to cut down on fruitless time communicating on the phone for bills of lading.

 

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

 

But was factoring the answer? 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. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. Without this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Now it was time for Francisco to do his homework. Francisco 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. 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! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

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 didn�t mind signing an exclusive contract. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It was good money.

 

It was really refreshing dealing with the factoring people. They were extremely helpful and more personable than the bank staff. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar for a handout. The factoring companies were not interested in his credit nor the financial problems his father had experienced in the past. Factoring was based on the credit of his customers and on their reliability which worked well for Francisco 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 Holmes 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, Francisco stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. With the capabilities of this new cash flow, Francisco could actually expand Holmes Trucking Company further across the country and perhaps even go international into Canada. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

 

 

Watch Our Truck Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� asked Clarence Warren, reclining back into his chair and crossing his legs. The woman sitting across the desk from Clarence smiled at him, shaking her head.�Not quite,� she stated.Clarence Warren owned a small trucking company, and his business had recently fallen on difficult times. Trucking could be a profitable business, and for a little under a decade, it had been for Sergio. His company was called Bates Trucking, named after both of his grandfathers, Larry and Jeffrey. Both of these men had been very hardworking and had set a great example for Sergio.Disaster had struck half a year ago, when two trucks in Sergio�s fifteen truck fleet went down. One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. Clarence 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 Clarence had on hand.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

Waiting a month or longer for bills to be paid was quite normal. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Clarence 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. Clarence knew she was employed by a Factoring company and that her name was Veronica. Clarence 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 aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. This is a win-win situation: we are protected from a total loss, and you're protected from the ridiculous fees and charges you'd have to pay if you borrowed from a bank.Clarence nodded. It sounded perfect - perhaps too good?.Veronica laughed. �I'm not sure that you believe me,� she chuckled.�Oh no, I do: it just sounds too good to be true. I actually thought I might end up losing my business.�Veronica nodded. �We get that a lot. There's no way we want to see you lose your business. You work hard, you�ve put everything you can into it. We all need help sometimes. That�s what we�re here for.""In any case, thank you for coming to see me.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� said Veronica with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.

 

Clarence completed the form, with Veronica offering advice as needed.

 

The profile filled Veronica and her company in on Sergio�s company, and would help them determine if he was suitable for factoring. Unfortunately, not all companies are. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. As Clarence completed his form, Veronica listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Veronica took it and slid it into her briefcase. She then stood, reached across the desk and shook Sergio�s hand. He stood before they shook as well, and then smiled. They said their goodbyes and Clarence 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 leaned back and closed his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. Talking to Veronica though, learning about factoring, it felt like a weight had been lifted from his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.The long nights, where he couldn�t sleep. The sudden panic attacks, not matter where he was. Already he could feel all the stress start to drain away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was there, he was on the right path, and he was working to make things right.His mind wandered back to the very beginning, when he first started his business. At twenty-two and straight out of school he had opened a restaurant. It had been successful. Home cooking in his hometown, and he had done very well.But he had gotten bored. He wasn't passionate about the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took six months off, and during that time he decided to create Bates 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.And then the trucks went down, and his success looked to be in flux. He was nearing fifty. He didn�t think he had it in him, to save this company. But he couldn�t give up. 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 it seemed as though he would not have to - all because of Factoring. Clarence 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

Precisely why Truck Firms Utilize Factoring Firms.

 

As the owner of your own company, you may be more than perceptive already of the hardship in making sure that capital issues do not become a difficulty down the line. After all, the most terrible thing that can in all probability come about for your company is to find yourself dragged in a long and complicated condition that leaves you forever searching for the finances you really need on an continuing manner.

 

For just about any company in this scenario, the issue can come for waiting for work to clear up and actually be repaid into your statement. Statements, checks, and the like could take a long time to actually to beprocessed which may leave you with momentary cash flow issues. Luckily, there are options out there for companies to explore-- and one of these is factoring providers.

 

Factoring providers will, in exchange for your bill of sales, offer you with the finances right now so that you do not need to worry about the waiting phase which could make paying off the bills and obtaining materialsmore hard. With this form of arrangement, invoice factoring can become incredibly valuable for many companies who have to avoid a cash ploy which they have gotten themselves in.

 

Given that, depending on the size of the task, it can take up to 60 days for a number of establishments to get paid then it is very important to take care of your own back and certainly not leave yourself cash short to pay the monthly bills. After all, how many enterprises have two months earnings just occupying there to cover all their spendings until they earn?

 

This is particularly true of trucking establishments. They have the tendency to take care of tons of invoices which means a considerable quantity of collection period entails business owner themselves. Seeking to get paid out in time can become an incredible inconvenience and this is the key reasons why you employ trucking factoring providers who are thrilled to help out truckers mainly.

 

As most of us determine, trucking is an exceptionally massive industry with countless agencies out there working with hundreds of vehicle drivers. Sadly, quite a few of these drivers end up in finances dilemmas given that they are still waiting for work from six weeks ago to actually pay them. When this is the case for a truck business, turning to factoring providers for reinforcement may be the most suitable option left.

 

This signifies that a truck corporation can pay out the wages of the people, keep all the trucks topped off with fuel and continue to go up, flourish and expand without continually waiting for the money which is taking too long to come in. Trucking Business enterprises functioning without a factoring program applied are leaving themselves at notable risk, as competitors cash out quickly and continue to grow.

 

There's absolutely nothing at all to be troubled about when it comes to making use of a Factoring establishment-- they are not like a banking company or somebody who is going to leave you with a huge stack of debt to pay back. You give them genuine invoices from work you have already finished , you are simply accelerating the repayment process.

 

In the United states of America, where truck companies survive, factoring firms are not considered getting a loan in any capacity. This confidential settlement then permits both parties to profit and experience a good future-- it provides the factoring company a guaranteed asset of money to put into the list and it offers the trucking firm the required funds that they sweated to get.

 

The trucking firm bestows their statements to the factoring enterprise. The trucking factoring firm then receive the installment payments from the trucking company's customers. Factoring has been all around for centuries and has been used for several years by many different business sectors-- but none much more so than truckers. While you may miss out on a small part of the money, something like 1-3 % depending upon who you collaborate with, it indicates that you are getting the cash today and can actually begin putting the funds to function.

 

After all, an IOU or an invoice is definitely not going to cover costs, is it? For trucking agencies when the income can be excellent one day and gone the next, it is up to the drivers to work prudently and to ensure they are leaving themselves with a substantial quantity of time and money to get through the week until they are paid again.

 

So the next occasion your trucking establishment is having some temporary cash flow dilemmas and you are putting in a bit too much time chasing sluggish paying clients, why not start thinking about making use of a factoring companies as a method to get your finances and give yourself a more pleasant future in the eyes of your trucking staff and your bank difference?

 

 

 

 

 

 

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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. Once the loan is paid off, you can then apply for another loan if the need arises.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not offer loans, and you do not go into debt when you get money from a Trucking Factoring company. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 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

 

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. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. 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. 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 means that it is easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.

 

3. You'll receive the money faster. With a Trucking Factoring company you can actually get the money you need faster. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.

 

4.You receive interest up-front. With a bank loan interest continues to build, and this has to be paid the whole time you have a business loan; however with a Trucking Factoring company there is no interest - they take it right off the top by deducting it from the total amount of receivable accounts. So you do not have to worry about monthly loan repayments, and you do not have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very efficient at debt collecting, and this frees up your valuable time to devote to running your company.

 

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.While a Trucking Factoring company is not the only way for your business to obtain the money it needs to keep growing, it does offer a type of financing well worth considering.

 

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