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What Your Banker Doesn't Want You to Know - Our Truck Factoring Companies Can Give
Your Trucking Company The Money You Want

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Medium-Size trucking businesses, specifically those who have not been in existence for really long, will frequently discover it challenging to protect a loan. Banks are often hesitant to lend money to businesses that do not have a lot of income and assets. They also want proof of the practicality of a company and therefore require that most operations, specifically little ones, been around for a certain amount of time prior to they are eager to hand over any money. Due to the fact that of this, a medium-size business commonly has few money producing options when requires develop. One alternative available, but typically ignored, is factoring. This is an outstanding means for a medium-size company to obtain money.

 

 

 

 

 

 

 

The Most Expensive Mistake of Your Life - Select The Best Factoring Company Instead Of A Regular Bank Funding

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

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

Cash flow does not have to be an issue any more. Do not be fooled -- banks are not the only places you can get funding. Other solutions are offered and you do not have to borrow money. Exactly what is truck factoring ? One solution is called truck factoring. Truck Factoring is the procedure of offering invoices to a financier instead of waiting to collect the money from the customer. Oh, the Irony- Truck factoring has a paradoxical distinction: It is the monetary foundation of numerous of America's most successful companies. Why is this ironic ? Because factoring is not instructed in business colleges, is seldom discussed in business strategies and is relatively unknown to the majority of most of American company individuals.

Yet it is a monetary process that releases up billions of dollars every year, enabling countless companies to grow and prosper. Commercial Factoring has been around for countless years. Truck Factoring Businesses are financiers who pay cash for the right to get the future payments on your invoices. An unpaid receivable or invoice has value. It is a debt your client has to pay in the near future. Factoring Principals--Although factoring deals solely with business-to-business transactions, a big percentage of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail deals. Utilizing the purest definition of the word, these big customer finance business are really just big Receivable Loan Funding Companies of customer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The store gets paid almost immediately, even though you do not pay until you are prepared.

For this service, the credit card company charges Sears a charge (typical common normal charges range from two to four percent of the sale). The Advantages Truck Factoring can offer many advantages to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on a product that has already been provided, a business can factor (sell) its receivables for money at a little price cut off the amount of the invoice. Payroll, advertising efforts, and working capital are just a few of the business requirements that can be satisfied with instant  cash.

Trucking Factoring provides the ways for a producer to renew inventory and make more items to sell: There is no longer a need to wait for earlier sales to be paid. FACTORING is not just a money management device for producers: Almost any kind company can take advantage of Staffing Factoring. Typically, a business that extends credit will have 10 to 20 percent of its annual sales tied up in accounts receivable at any given time. Think for a minute about how much is tied up in 60 days' worth of invoices: You can not pay the power expense or today s payroll with a customer s invoice, but you can sell that invoice for the money to satisfy those obligations. Using truck factoring companies is a quick and easy process. The factoring company buys the invoice at a discount, usually a couple of percentage points less than the face value of the invoice.

 

 

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The American Transportation Association
states that there around
205,000 workers with truck
businesses and
300,000 private service providers trucking
firms accredited to
operate in America that transported,
according to their newest searchings for billions of
items, supplies and
basic materials .
There are numerous usual
providers either going solo or in
teams on our country
roadways transporting these
crucial products to our
shops, manufacturingplants and harbors.

Moreover trucking factoring
businesses help
many of them and offer their
receivables financing facilities
nationwidecounting
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

 

"

Garland is a city in the U.S. state of Texas. It is a large city northeast of Dallas and is a part of the Dallas�Fort Worth metroplex. It is located almost entirely within Dallas County, except a small portion located in Collin County. As of the 2010 census, the city had a population of 226,876, making it the eighty-seventh most populous city in the United States of America and the twelfth most populous city in the state of Texas.In 2008, Garland was ranked #67 on CNN and Money magazine's list of the ""Top 100 Places to Live""In the late 1930s the Craddock food company, which manufactured pickles, moved to town. In 1937 the KRLD (Dallas) radio tower was constructed in Garland. During World War II several aircraft plants operated in the Garland area. After the war Kraft Foods bought the Continental Motors Plant to retool for its manufacture. The Kraft Foods plant still operates to this day. As a station on two railroads, Garland was a major onion-shipping point in the 1940s.Resistol Hats in Garland is a notable manufacturer of premium hats, many of which have been worn by or given to notable figures around the world. The company has long been an important part of Garland's manufacturing base.The company was founded by E.R. Byer and Harry Rolnick, who established Byer-Rolnick in Dallas in 1927. At the time, the company produced men's felt hats. The company used the name ""Resistol Hats"" to indicate that the hats could ""resist-all"" weather conditions. Some accounts contend the name was given because the headbands in the company's hats were more resistant to scalp oil.The growing firm needed to expand. In 1938, it moved to a larger facility in Garland, where Resistol hats continue to be manufactured today. For decades, residents surrounding the hat factory could set their clocks to its whistle.In the early 1980s Garland had one of the lowest poverty rates of cities in the country. In 1990 it had a population of 180,650 and 2,227 businesses, making it Dallas County's second largest city and the tenth largest in the state. Garland had a variety of industries, including electronics, steel fabrication, oilfield equipment, aluminum die casting, hat manufacture, dairy products, and food processors.

 

"

 

Watch Our Trucking Factoring Companies YouTube Videos For More Information

 

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

 

Click below to find Trucking Companies in the United States:

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

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

 

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

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

 

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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.

 

 

"

Since the mid 1980s Anderson Truck & Haul have been successfully running their freight business. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the boom times from 2002 to 2007 Anderson Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. Cash was flowing and times were good for all.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed down. And worse yet, Anderson had noticed during the early part of 2008 that though the bulk of their clients were always on time with payments, the few late-bloomers there were, had seemingly started to spread this illness. And as spring turmed to summer and summer into the early days of fall, Christopher Willis, CEO of Anderson felt a chill go down his spine whenever he would look at the weekly A/R reports. There was a growing list of clients who now owed them back debt.He had already been to the administrators to ask what the actual problem was. Were they doing things different, or wrong, when it came to collecting overdue accounts? By his bookkeepers records, this wasn't the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Anderson money had jumped ship and decided to leave him holding the bag.

 

. They could not afford to pay him their debt, but they could afford a lesser service, maybe. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Anderson hadn't gone elsewhere. They had just gone home.The situation looked dire to Christopher Willis. He had employees to pay, goods to ship, trucks to maintain and overhead that was almost unbearable when compared against the lack of funds that were coming in. In the evenings he would discuss his concerns with his wife, Lisa, and still find no relief from the worry and frustration.

 

""I have a bad feeling, Lin,"" he'd sadly say to his wife.""What could you do differently?"" she would ask.Christopher would stare off into the distance, and then slowly close his eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them traveling, bringing goods to all of his clients. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. Why couldn�t he work out how to resolve this financial problem with his business?""I know what it is,"" Christopher said. ""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."" Lisa would look at her husband lovingly, and holding his hand would say 'it is such a harsh economy these days and our clients must be having difficulty meeting their responsibilities'.""Christopher 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 Christopher strolled into his office and was determined to sit down and make every phone call to every client who had owed Anderson 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 Christopher 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 Juditherley knocked at his door.

 

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

 

""Of course Judith, please come in."" Christopher relaxed back into his chair and looked up at Juditherley.""Well Christopher, this afternoon I did some research, trying to work out how we are going to get out of this mess."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard of factoring?"" Juditherley asked.""It sounds vaguely familiar. What is it?"" he said.She began, ""Well, it is really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Immediately?"" Christopher interrupted.""Immediately, yes"" she added, ""In a nutshell, it is pretty easy. We start by having a professional account manager review our figures and help us set up a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It provides a very broad view.""I see,� Christopher said. �And then what?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. 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. The funding commences once we�ve arrived at an agreement.�Christopher was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Judith,"" he said.""Now, now, I know, I thought the same thing. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. They appear to be very flexible, Christopher,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" he asked.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. It only takes 2 to 4 days for this to be figured out. ""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. 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 Christopher.He took a deep breath and looked at his secretary with something she recognized as hope.""Precisely�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Christopher thought about this and agreed with Juditherley. The customers who were in debt to Anderson Truck & Haul were professional resources of the company, but they were also long-standing friends. They did not want to throw away these relationships because they were having trouble paying their bills now. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. Of course he did not want to lose any more money, but he did not want to lose business either.""Well, let me think about this tonight Judith, thank you."" Judith nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Christopher keep the shirt on his back, and possibly hers too.Christopher 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 Anderson Truck & Haul with? Running his pencil down the sheet, he noted that the freight factoring company could assist with fuel costs, fuel advances, and fuel discount cards. Christopher was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Christopher was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""I must tell Angel the good news,"" muttered Christopher to himself.Christopher's son-in-law, Angel, loved the idea behind Anderson 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. Christopher knew then what struggles Angel would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Anderson was hurting, a little guy like Angel was about to catch his death. Perhaps the antidote to these problems was in freight factoring, and they were about to find out.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Christopher found himself beginning to dig his way out of the hole his delinquent account holders had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They took that time and refocused effort to offering competitive prices in new territories. Christopher recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. He probably wouldn't be in business today had he not learned just in time about freight factoring.

 

"

 

"

Garland is a city in the U.S. state of Texas. It is a large city northeast of Dallas and is a part of the Dallas�Fort Worth metroplex. It is located almost entirely within Dallas County, except a small portion located in Collin County. As of the 2010 census, the city had a population of 226,876, making it the eighty-seventh most populous city in the United States of America and the twelfth most populous city in the state of Texas.In 2008, Garland was ranked #67 on CNN and Money magazine's list of the ""Top 100 Places to Live""In the late 1930s the Craddock food company, which manufactured pickles, moved to town. In 1937 the KRLD (Dallas) radio tower was constructed in Garland. During World War II several aircraft plants operated in the Garland area. After the war Kraft Foods bought the Continental Motors Plant to retool for its manufacture. The Kraft Foods plant still operates to this day. As a station on two railroads, Garland was a major onion-shipping point in the 1940s.Resistol Hats in Garland is a notable manufacturer of premium hats, many of which have been worn by or given to notable figures around the world. The company has long been an important part of Garland's manufacturing base.The company was founded by E.R. Byer and Harry Rolnick, who established Byer-Rolnick in Dallas in 1927. At the time, the company produced men's felt hats. The company used the name ""Resistol Hats"" to indicate that the hats could ""resist-all"" weather conditions. Some accounts contend the name was given because the headbands in the company's hats were more resistant to scalp oil.The growing firm needed to expand. In 1938, it moved to a larger facility in Garland, where Resistol hats continue to be manufactured today. For decades, residents surrounding the hat factory could set their clocks to its whistle.In the early 1980s Garland had one of the lowest poverty rates of cities in the country. In 1990 it had a population of 180,650 and 2,227 businesses, making it Dallas County's second largest city and the tenth largest in the state. Garland had a variety of industries, including electronics, steel fabrication, oilfield equipment, aluminum die casting, hat manufacture, dairy products, and food processors.

 

"

 

More Trucking Factoring Companies Story Articles

"

Factoring in the Future of a Trucking Business: A Story The phone was ringing on his desk, and Travis Marshall just sat there letting it ring. 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. Marshall Trucking Company was at a turning point of growth and Travis had to decide if signing with a factoring company was the right way forward.

 

Travis�s father had started as an owner-operator and had grown Marshall Trucking Company into a fifteen trailer fleet over forty years. There had been some hard times when it seemed everything was going to go under and even Travis�s mother strapped herself into a cab to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. But now things were different: the company was in Travis's hands and he needed to ensure that this business would be left in great shape for his sons.

 

There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. His employees needed to be paid. They all have families and the usual household bills. 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, Marshall Trucking looked weak in a very strong market.

 

His father would have told him to wait and to take his time adding on new technology. Travis chuckled, thinking about his father. He remembered when his father was totally against installing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). 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.

 

Travis knew he was right in his forward thinking. What would be the next step for Marshall 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. 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 like a ninth grade math problem and he wondered how this would fit into the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. 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.

 

Travis had to really consider what his next step was going to be. Travis had heard that there were companies that charged for same day money transfers and would only advance a percentage of the money owed to your company while holding the rest in a private account if they didn�t get their bill payment within 60 or so days. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! 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. 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. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. 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. 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 extremely helpful and more personable than the bank staff. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies didn�t worry over his credit and the debt troubles his father had had in the past of the company. Factoring was based on the credit of his customers and on their reliability which worked well for Travis because he and his father had built up good strong relationships over decades with their list of clients. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients would not have any problems, nor would they think poorly of Marshall Trucking, because the factoring companies handle themselves in such a polite and professional manner, similar to the way his father had managed the business in the past.

 

Travis stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. 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 Marshall Trucking Company and who knows, move into Canada, which had always been his dream. His heart felt full knowing his sons wouldn�t have to worry about money because of the right decisions he had made for their trucking business.

 

"

 

 

View Our Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So, this is not a loan?� asked Everett Palmer, reclining back into his chair and crossing his legs. The woman sitting across the desk from Everett smiled at him, shaking her head.�Not quite,� she stated.Everett was the owner of a small trucking company which had fallen on some hard times recently. Trucking could be a profitable business, and for a little under a decade, it had been for Jessie. His company was called Foster Trucking, named after both of his grandfathers, Freddie and Darryl. They had both been hardworking men, and had done a lot to make Everett the same.Disaster had struck half a year ago, when two trucks in Jessie�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. Everett depended on his full fleet, and missing two trucks was devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.A big problem a lot of trucking companies came across was how bills were paid in the industry. 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.Everett was an excellent business man, and he certainly hadn't done anything wrong. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.And that's why he found himself across the desk from this woman. Everett knew she was employed by a Factoring company and that her name was Melinda. He had accidentally come across her company one night when he was working late, searching the internet to see if there was some solution to his financial dilemma.Melinda explained. �it is really not a loan at all: we actually buy your accounts receivable. we are not giving you finance to be repaid later: we are purchasing something from you, and when you can you can buy it back. 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.Everett agreed. It sounded perfect - perhaps too good?.Melinda laughed. �You look like you don�t believe me,� she chuckled.�No, I do, I just think it sounds a bit too good to be true. I actually thought I might end up losing my business.�Melinda smiled, agreeing. �Yes, we get a lot of that. Listen, I�d hate to see you lose your company. We know how hard you work, and that you've invested everything in your business. We all need help sometimes. That's why we do what we do.""In any case, thank you for coming to see me.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Melinda with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Everett completed the form, with Melinda offering advice as needed.

 

The completed profile gave Melinda and her company all the information they needed on Jessie's business, and with this information they would determine if this business would in fact be suitable for Factoring. In truth, not all companies were. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. As Everett completed his form, Melinda listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Melinda took it and slid it into her briefcase. Standing up, she reached over the desk and shook Jessie's hand. He stood before they shook as well, and then smiled. They said their goodbyes and Everett walked her to the door, and then returned to his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He leaned back and closed his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. Talking to Melinda though, learning about factoring, it felt like a weight had been lifted from his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.All those long, sleepless nights. The sudden panic attacks, not matter where he was. He could feel it all fading 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 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.Everett 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 successful. Offering home cooking in his own hometown, his business had really prospered.But he had gotten bored. His passion didn�t lie with the food industry. He thought long and hard, and then he decided to sell the restaurant. He took half a year off, and in that time he thought to start Foster Trucking. And that's exactly what he did. Once again he built 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 was concerned that he just did not have the energy left to try and save the business. But giving up wasn't part of his personality either.

 

The idea of cutting his losses, shutting down, laying off his workers, it actually made him 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. Jessie's eyes opened, he sat forward in his chair and turned on his computer. He had things to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

Reasons why Truck Agencies Make use of Factoring Firms.

 

As the owner of your own company, you may be more than conscious already of the hardship in making certain that cash flow concerns do not become a difficulty down the line. After all, the toughest thing that can potentially transpire for your establishment is to find yourself involved in a long and tough predicament that leaves you forever trying to find the resources you necessitate on an continual basis.

 

For any kind of enterprise in this position, the complication can come for waiting for work to clear up and actually be brought in into your statement. Statements, checks, and the like could take some time to actually to beprocessed which can certainly leave you with short-term cash flow difficulties. Luckily, there are approaches out there for firms to explore-- and among these is factoring providers.

 

Factoring companies will, in substitution for your bill of sales, give you with the finances now to make sure that you do not need to worry about the lingering time frame which could make paying off the bills and obtaining toolsmore troublesome. With this form of system, invoice factoring can become remarkably useful for several firms who have to get out of a money lure which they have gotten themselves in.

 

Given that, basing on the scale of the work, it can take up to 60 days for many firms to get paid out then it is vital to blanket your own back and certainly not leave yourself money short to pay off the monthly bills. After all, how many business enterprises possess two months revenue just lying there to pay for all their expenses till they earn?

 

This is most especially true of trucking enterprises. They tend to deal with numbers of invoices which means a serious quantity of collection period concerns company owner themselves. Attempting to get paid out in time can end up being an unbelievable headache and this is the reason why you employ trucking factoring providers who are delighted to help out truckers exclusively.

 

As most of us know, trucking is an unbelievably massive market with countless firms out there handling hundreds of operators. Regrettably, numerous of these drivers land up in finances dilemmas because they are still awaiting work from six weeks back to actually pay them. When this is the circumstance for a truck business, choosing factoring companies for solutions maybe the finest alternative left.

 

This means that a trucking company can provide the salaries of the staff, keep all the trucks filled with fuel and continue to escalate, thrive and expand without always waiting for the cash which is taking too prolonged to come in. Trucking Business enterprises working without a factoring system applied are leaving themselves at significant hazard, as contenders cash out quickly and continue to expand.

 

There's genuinely almost nothing to be worried about when it comes to employing a Factoring agency-- they commonly are not like a bank or someone who is going to leave you with a massive pile of financial debt to pay back. You give them legitimate invoices from work you have already finalized , you are only just facilitating the payment process.

 

In the Usa, where truck companies survive, factoring establishments are not considered accepting loan of in any capacity. This confidential arrangement then enables both groups to profit and indulge in a convenient future-- it provides the factoring business a secured resource of cash flow to add to the list and it supplies the trucking business the needed funds that they worked hard to earn.

 

The trucking company provides their invoices to the factoring company. The trucking factoring firm then receive the payments from the trucking company's customers. Factoring has been all around for centuries and has been utilized for several years by lots of different business sectors-- but none much more so than truckers. While you could lose out on a small part of the money, something like 1-3 % depending on who you partner with, it signifies that you are acquiring the funds today and can actually start off setting the money to function.

 

Once and for all, an IOU or an invoice is certainly not going to pay for costs, is it? For trucking establishments when the resources can be fantastic one day and gone the next, it is up to the drivers to work sensibly and to make sure they are leaving themselves with a significant volume of time and money to get through the week up until they are paid for once more.

 

So the next instance your trucking company is bearing some temporary cash flow troubles and you are shelling out way too much time chasing sluggish paying customers, why not start off thinking of using a factoring companies as a means to get your money and give yourself a more pleasant future in the eyes of your trucking crew 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. While these loans are handy they are not 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 offer loans, and you do not go into debt when you get money from a Trucking Factoring company. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

What Are The Benefits Of A Trucking Factoring Company Versus A Traditional Bank Loan?

 

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

 

1. There is no debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

2. No Collateral Required. Another great benefit of using the services of a Trucking Factoring company instead of a bank loan is that there is no collateral required for the Trucking Factoring company, because the Trucking Factoring company is buying your accounts receivables. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

3. Receive Your Money Faster. With a Trucking Factoring company you can actually get the money you need faster. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.

 

4.You receive interest up-front. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you do not have to continue to pay interest as they take it right off the top, deducting it from the total amount of accounts receivable. So 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 from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

Another bonus is that, because the Trucking Factoring company has evaluated the quality of your customers' credit before buying the accounts receivable, you learn valuable information regarding your customers, like which ones are likely to pay, and which ones are less likely to pay.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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