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This is Marie Antoinette - Escaping - Our Freight Invoice Factoring Companies Can Provide
Your Freight Company The Money Your Company Needs

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Trucking Factoring is useful for a number of reasons. It allows a truck company to raise cash without getting brand-new financial obligation. While debt is in some cases required, most trucking firms would prefer to raise cash without borrowing money. Debt is dangerous, and when it cannot be paid back, assets can be repossessed. If the financial obligation is big enough, it may even force a truck businesses out of business.

 

 

 

 

 

 

 

How To Burn Off Receivables, Hour-by-Hour - Pick A Receivable Loan C0mpany Instead Of A Regular Bank Funding

Exactly how to Enhance Cash Flow Without Borrowing -Cash Money flow is one of the main reasons businesses fail.

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

Cash 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 options are available and you do not have to borrow. What is trucking factoring ? One solution is called truck factoring. Truck Factoring is the procedure of selling invoices to an investor instead of waiting to collect the money from the client. Oh, the Irony- Trucking factoring has an ironic distinction: It is the financial foundation of numerous of America's most successful companies. Why is this ironic ? Because accounts receivable factoring is not instructed in business colleges, is seldom mentioned in company plans and is relatively unknown to the majority of most of American business people.

Yet it is a monetary procedure that frees billions of dollars every year, enabling countless companies to grow and succeed. Truck Factoring has been around for thousands of years. FACTORING Companies are financiers who pay money for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your client has to pay in the near future. Factoring Principals--Although factoring offers solely with business-to-business deals, a big percentage of the retail company uses a factoring principal. MasterCard, Visa, and American Express all utilize a type of factoring in their retail deals. Utilizing the purest meaning of the word, these big consumer finance companies are really just large Truck Factoring Businesses of customer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The store makes money almost instantly, although you do not make payment up until you are prepared.

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

Invoice Factoring provides the means for a producer to replenish inventory and make more products to sell: There is no longer a requirement to wait for earlier sales to be paid. Receivable Loan Financing is not simply a cash management tool for manufacturers: Almost any kind company can benefit from Staffing Factoring. Generally, a business that extends credit will have 10 to 20 percent of its annual sales bound in accounts receivable at any given time. Think for a moment about exactly how much is tied up in 60 days' worth of invoices: You can not pay the power expense or this week s payroll with a client s invoice, however you can offer that invoice for the money to meet those responsibilities. Using truck factoring companies is a fast and easy procedure. The factor buys the invoice at a price cut, typically a few portion points less than the face value of the invoice.

 

 

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philadelphia-factoring-companies

 

The U.s. Transportation Association
mentions that there around
200,000 workers with transportation
companies and
276,000 private providers trucking
companies licensed to
run in the States that transferred,
according to their latest searchings for billions of
products, supplies and
fundamental materials .
There are several typical
carriers either going solo or in
groups on our country
highways transferring these
important products to our
stores, manufacturing facilities and shipping ports.

Also trucking factoring
companies help
numerous of them and offer their
factoring services
nationallyincluding
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

 

Philadelphia, the largest city in Pennsylvania, is located in the southeast part of the state at the junction of the Schuylkill and Delaware Rivers. It is coextensive with Philadelphia County.Philadelphia, the City of Brotherly Love, was settled in 1681 by Capt. William Markham, who, with a small band of colonists, had been sent out by his cousin, William Penn. Penn arrived the following year with the intention of creating a refuge for the Quakers.In the period before the American Revolution, the city outstripped all others in the colonies in education, arts, science, industry, and commerce. In 1774�1776, the First and Second Continental Congresses met in Philadelphia, and, from 1781�1783, the city was the capital of the United States under the Articles of Confederation. In 1790, it became the nation's capital under the Constitution and remained so until the seat of the federal government moved to Washington in 1800.Within a half-century of the founding of the nation at Independence Hall, Philadelphia had emerged as a leader in America's Industrial Revolution. Today the steam locomotives and hat factories of the 19th century have been replaced by diverse manufacturing specialties such as chemicals (including pharmaceuticals), medical devices, transportation equipment, and printing and publishing. In the services sector, Philadelphia leads in subsectors such as health services, insurance carriers, legal services, and architecture and engineering services. Philadelphia is also home to branches of the U.S. Mint, the Federal Reserve System, and the Internal Revenue Service.The city's harbor, one of the largest freshwater ports in the world, is the centerpiece of the AmeriPort facility in south Philadelphia, a major shipping center with rail links to the Midwest and Canada.The city abounds in landmarks of early American history, including Independence Hall, where the Declaration of Independence was signed, and the Liberty Bell. Other significant tourist attractions are the Philadelphia Museum of Art, the Franklin Institute Science Museum, and the Philadelphia Zoological Gardens.

 

 

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

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

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

 

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

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

 

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

 

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

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

 

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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

 

 

"

Jordan Truck & Haul have been operating their business since the mid 1980s. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the heady times from 2002 to 2007, Jordan was a top rated accounts receivable mastermind of the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. Times were great for everyone, and the cash was flowing.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 Jordan 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, Manuel Burns, CEO of Jordan 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 gone to his administrators and asked them what the problem had been. 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. 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 Jordan hadn't gone elsewhere. They had just gone home.This current state-of-affairs was causing Manuel Burns to have some very restless nights. Manuel was very concerned, because there were constant overheads, goods to ship, employees to pay, and trucks which needed to be maintained, but there just wasn't the money coming back into the business. After work he would confide in his wife, Tiffany, and neither were unable to stop the constant worry over the lack of funds.""Lin, I have a really bad feeling,"" he would say with deep woe.""Well, what do you think it is?"" she would ask.Manuel would stare off for a moment and then close eyes. He could see the fleet of trucks he had purchased over the years. He could see them on the road, delivering good to all his loyal customers. 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 know what it is,"" Manuel 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.

 

""Manuel knew his wife meant well, but he knew that he was responsible for too many people to sit idly by, waiting for the sun to peak over the clouds.The next day Manuel strolled into his office and was determined to sit down and make every phone call to every client who had owed Jordan money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Manuel knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. A waste of time - a waste of money - he had the best intentions, but all the while Manuel was realising just how much trouble he was in.Poor Manuel 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.

 

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

 

""Sure thing Annie, come on in."" Manuel leaned back in his chair and looked expectantly at Annieerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Manuel."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard the word factoring?"" she asked.""It sounds vaguely familiar. What is it?"" he said.""Well,"" she began, ""It�s actually quite simple really.

 

So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Immediately?"" Manuel interrupted.""Immediately, yes"" she added, ""it is actually very simple. We start by having a professional account manager review our figures and help us set up a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It provides a very broad view.""Manuel 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. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

This company tells us what the cost will be to purchase factoring for our accounts receivable. Once we arrive at a mutual agreement, the funding begins.�Manuel was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Annie,"" he said.""Now, now, I know, I thought the same thing. But think about it, Manuel: they've guaranteed that experts will do all the paperwork, and that will free us up to do what we should be doing - focusing on our customers in good standing, and that kind of stuff. They appear to be very flexible, Manuel,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" asked Manuel.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. It only takes 2 to 4 days for this to be figured out. ""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" said Manuel.Manuel took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Precisely�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Manuel thought about this and agreed with Annieerley. The customers who were in debt to Jordan Truck & Haul were professional resources of the company, but they were also long-standing friends. Manuel wasn't prepared to lose these relationships just because they were having financial issues at the moment. Manuel knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. That unknown amount of time could create a disaster situation for both of them if he wasn't careful in how these debtors were handled. Of course he did not want to lose any more money, but he did not want to lose business either.""Let me go over this tonight Annie, and thankyou."" Annie nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Manuel keep the shirt on his back, and possibly hers too.Manuel 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 Jordan 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, Jordan 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 Walter about this,"" Manuel muttered to himself.His son-in-law Walter had liked the idea of Jordan so much and revered his father in law for having such business acumen that only two years before, he had gathered the venture capital to begin his own transportation service company. Manuel knew then what struggles Walter would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Jordan was struggling then the little guys, like Walter, were going to be in even more trouble. But, maybe the answer for both of them was in freight factoring, and Manuel was going to find out very soon.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Manuel found himself beginning to dig his way out of the hole his delinquent account holders had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They used that time to refocus their efforts in being competitive in new territories. Manuel 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.

 

"

 

Philadelphia, the largest city in Pennsylvania, is located in the southeast part of the state at the junction of the Schuylkill and Delaware Rivers. It is coextensive with Philadelphia County.Philadelphia, the City of Brotherly Love, was settled in 1681 by Capt. William Markham, who, with a small band of colonists, had been sent out by his cousin, William Penn. Penn arrived the following year with the intention of creating a refuge for the Quakers.In the period before the American Revolution, the city outstripped all others in the colonies in education, arts, science, industry, and commerce. In 1774�1776, the First and Second Continental Congresses met in Philadelphia, and, from 1781�1783, the city was the capital of the United States under the Articles of Confederation. In 1790, it became the nation's capital under the Constitution and remained so until the seat of the federal government moved to Washington in 1800.Within a half-century of the founding of the nation at Independence Hall, Philadelphia had emerged as a leader in America's Industrial Revolution. Today the steam locomotives and hat factories of the 19th century have been replaced by diverse manufacturing specialties such as chemicals (including pharmaceuticals), medical devices, transportation equipment, and printing and publishing. In the services sector, Philadelphia leads in subsectors such as health services, insurance carriers, legal services, and architecture and engineering services. Philadelphia is also home to branches of the U.S. Mint, the Federal Reserve System, and the Internal Revenue Service.The city's harbor, one of the largest freshwater ports in the world, is the centerpiece of the AmeriPort facility in south Philadelphia, a major shipping center with rail links to the Midwest and Canada.The city abounds in landmarks of early American history, including Independence Hall, where the Declaration of Independence was signed, and the Liberty Bell. Other significant tourist attractions are the Philadelphia Museum of Art, the Franklin Institute Science Museum, and the Philadelphia Zoological Gardens.

 

 

More Trucking Factoring Companies Story Articles

The Future of a Trucking Company, and Factoring Elmer Mccoy let the phone ring on his desk. His morning coffee cooled and his cigarette smoked away in the tray: Elmer is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Mccoy 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 Elmer's father had started this business working as an owner-operator and eventually growing Mccoy Trucking Company into a fifteen trailer fleet. Yes, they had survived some very difficult times when it appeared like they might go under, and even Elmer's mother had jumped into the cab at times to make hauls. His father had worked long enough to see the price of hires drop dramatically during the recession and to see the explosion of fuel prices afterwards. But now things were different: the company was in Elmer's hands and he needed to ensure that this business would be left in great shape for his sons.

 

To move Mccoy Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. 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. He knew that turning down these requests made Mccoy Trucking look inefficient and weak in what was currently a strong market.

 

His father would have told him to wait and to take his time adding on new technology. Elmer allowed himself a good hard chuckle. His father had been against placing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� 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.

 

Elmer believed a successful man is always thinking of his next step. What would be the next step for Mccoy Trucking? 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.

 

He wondered about factoring - was this the answer for him? If he was being honest, he did not really understand how it all worked. It sounded 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 the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Elmer had to really consider what his next step was going to be. 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 colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

However, it all turned out to be very simple. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He was quite happy to sign an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It sounded like a great scheme to him.

 

It was really refreshing dealing with the factoring people. They were more personable than those loan managers at the bank. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar for a handout. The factoring companies didn�t worry over his credit and the debt troubles his father had had in the past of the company. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Elmer because he and his father had created a very strong and loyal list of clientele over the years. So he knew they would understand when the factoring company contacted them for the invoices. His clients wouldn�t think poorly of Mccoy 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, Elmer stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. He suddenly realized that, with this new cash flow, he could actually expand Mccoy Trucking Company and who knows, move into Canada, which had always been his dream. His heart felt full knowing his sons wouldn�t have to worry about money because of the right decisions he had made for their trucking business.

 

 

 

Watch Our Factoring Video For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� Chris Snyder asked as he leaned back in his chair, crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she said.Chris was the owner of a small trucking company which had fallen on some hard times recently. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Daryl. He named his business Diaz Trucking, named after Alexander and Glen, his two grandfathers. They had both been hardworking men, and had done a lot to make Chris the same.Disaster had struck half a year ago, when two trucks in Daryl�s fifteen truck fleet went down. One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. The financial security of Daryl's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Chris 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. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Chris 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 Claire and she worked for a factoring company. Chris 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. 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.Chris agreed. It sounded perfect - perhaps too good?.The woman laughed. �You look like you don�t believe me,� she said.�No, I do, I just think it sounds a bit too good to be true. I thought I was going to lose my company.�Claire smiled, agreeing. �We get that a lot. 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.""Well, I'm very grateful that you came to see me today.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� Claire said with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Chris filled the form out, with Claire available to help him if he needed it. The profile filled Claire and her company in on Daryl�s company, and would help them determine if he was suitable for factoring. Unfortunately, not all companies are. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. As Chris completed his form, Claire listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Claire took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Daryl's hand. He stood before they shook as well, and then smiled. Chris walked Claire to the door where they said 'Goodbye', then he went back into his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He shut his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. Talking to Claire 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. He could feel it all fading away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.Chris couldn�t help but think back to when he had first started the business. At twenty-two and straight out of school he had opened a restaurant. It had been really 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 half a year off, and in that time he thought to start Diaz Trucking. So he did it. Once again he built 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 about to turn fifty. He was concerned that he just did not have the energy left to try and save the business. But he couldn�t give up. 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 it seemed as though he would not have to - all because of Factoring. Daryl's eyes opened, he sat forward in his chair and turned on his computer. He had lots to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

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More Trucking Factoring Company Story Articles

The reason why Trucking Companies Make use of Factoring Companies.

 

As the operator of your own firm, you may be more than conscious already of the hardship in making certain that capital matters do not become a predicament down the line. Anyway, the most terrible thing that can quite possibly come about for your firm is to find yourself swept up in a long and troublesome circumstance that leaves you forever searching for the money you necessitate on an continuous basis.

 

For virtually any establishment in this position, the dilemma can come for waiting for work to clear up and actually be repaid into your bank account. Statements, checks, and the like could take a long time to actually to be taken care of which can leave you with momentary cash flow issues. The good news is, there are opportunities out there for establishments to check out-- and just one of these is factoring agencies.

 

Factoring providers will, in exchange for your invoices, grant you with the money immediately so that you do not have to worry about the delaying period that could make paying out the expenses and obtaining materialsmore difficult. With this form of system, invoice factoring can end up being tremendously valuable for numerous businesses who have to get out of a cash pitfall which they have gotten themselves in.

 

For the reason that, depending on the volume of the job, it can take up to 60 days for several business enterprises to get compensated then it is essential to blanket your own back and not leave yourself resources short to pay off the expenses. After all, how many firms have two months profits just lying there to pay for all their spendings till they make money?

 

This is specifically correct of truck firms. They have the tendency to manage tons of accounts which means a significant volume of collection time concerns business owner themselves. Attempting to get paid in time can become an unbelievable trouble and this is the reason why you work with trucking factoring agencies who are thrilled to help out truckers mainly.

 

As all of us know, trucking is an extremely massive industry with a lot of agencies out there employing hundreds of operators. Regretfully, plenty of these drivers end up in finances predicaments since they are still awaiting work from six weeks in the past to actually pay them. When this is the condition for a trucking organization, resorting to factoring companies for aid may be the most ideal choice left.

 

This indicates that a truck organization can provide the paychecks of the staff, keep all the vehicles topped off with fuel and continue to go up, progress and expand without constantly waiting for the cash which is taking too prolonged to come in. Trucking Establishments functioning without a factoring program established are leaving themselves at substantial risk, as competitors cash out rapidly and carry on to expand.

 

There's absolutely very little to be stressed about when it comes to employing a Factoring agency-- they commonly are not like a bank or any individual who is going to leave you with a substantial mass of liability to repay. You give them legitimate invoices from work you have already accomplished , you are merely accelerating the repayment process.

 

In the United States, where truck establishments survive, factoring establishments are not considered taking on loan in any capacity. This private agreement then lets both parties to make money and experience a good future-- it provides the factoring business a warranted asset of money to put into the list and it provides the trucking business the required cash that they worked hard to generate.

 

The trucking firm gives their invoices to the factoring agency. The trucking factoring business then collect the installment payments from the trucking company's customers. Factoring has been in existence for hundreds of years and has been utilized for many years by a lot of varying sectors-- but none exceeding so than truckers. While you may lose out on a small part of the money, something like 1-3 % depending on who you team up with, it signifies that you are obtaining the resources today and can actually begin putting the money to function.

 

Anyway, an IOU or an invoice is not going to pay for overheads, is it? For trucking enterprises when the money can be fantastic one day and gone the next, it is up to the vehicle drivers to work smartly and to guarantee they are leaving themselves with a substantial measure of time and finance to get through the week up until they are paid once again.

 

So the next instance your trucking business is having some short-term cash flow troubles and you are putting in a lot of time chasing sluggish paying clienteles, why not start off considering using a factoring companies as a manner to get your cash and give yourself a more worry-free future in the eyes of your trucking staff and your bank difference?

 

 

 

 

 

 

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Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. These loans can be a life-saver, but they're not always available to every business. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Once the loan is paid off, you can then apply for another loan if the need arises.

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. 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 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

 

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

 

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

 

2. There's no collateral required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. 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. You'll receive the money faster. Using a Trucking Factoring company means that you'll get the finance quicker. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.Interest is Paid Up Front. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you do not have to continue to pay interest as they take it right off the top, deducting it from the total amount of accounts receivable. So not only are you relieved of those monthly loan payments, but you also do not have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

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

 

Another bonus is that, because the Trucking Factoring company has evaluated the quality of your customers' credit before buying the accounts receivable, you learn valuable information regarding your customers, like which ones are likely to pay, and which ones are less likely to pay.A Trucking Factoring company is not the only method of gaining access to finance for the running and growing of your business, however it does offer a financing option well worth considering.

 

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Factoring Companies by City

New York City

Los Angeles


Chicago


Houston


Philadelphia


Phoenix


San Antonio


San Diego


Dallas


San Jose

Austin


Jacksonville


Indianapolis


San Francisco


Columbus


Fort Worth


Charlotte


Detroit


El Paso


Memphis

 

 

Boston


Seattle


Denver


Washington DC


Nashville-Davidson


Baltimore


Louisville/Jefferson


Portland


Oklahoma City


Milwaukee


Las Vegas


Albuquerque


Tucson


Fresno


Sacramento


Long Beach


Kansas City


Mesa


Virginia Beach


Atlanta

 

Colorado Springs


Raleigh


Omaha


Miami


Oakland


Tulsa


Minneapolis


Cleveland


Wichita


Arlington

 

New Orleans

Bakersfield

Tampa

Honolulu

Anaheim

Aurora

Santa Ana

St. Louis

Riverside

Corpus Christi

Pittsburgh

Lexington Fayette

Anchorage

Stockton

Cincinnati

St. Paul

Toledo


Newark

Greensboro

Plano

Henderson

Lincoln

Buffalo

Fort Wayne

Jersey

Chula Vista

Orlando

St. Petersburg

Norfolk

Chandler

Laredo

Madison

Durham

Lubbock

Winston Salem

Garland

Glendale

Hialeah

Reno

Baton Rouge

Irvine

Chesapeake

Irving

Scottsdale

North Las Vegas

Fremont

Gilbert town

San Bernardino

Boise

Birmingham

Rochester

Richmond

Spokane

Des Moines