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The Most Expensive Mistake of Your Life - Our Invoice Factoring Company Can Provide
Your Freight Company The Cash You Need

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Factoring invoices is beneficial for several reasons. It enables a truck company to raise money without obtaining new debt. While debt is often essential, the majority of freight brokerage would choose to raise cash without obtaining cash. Debt is high-risk, and when it can not be paid back, possessions can be repossessed. If the debt is huge enough, it may even require a truck businesses out of business.

 

 

 

 

 

 

 

How To Get More Cash - Select A Freight Bill�Factoring Company  Instead Of A Traditional Bank Funding

How to Increase Cash Flow Without Loaning -Cash Money flow is one of the primary reasons businesses fail.

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

Cash flow does not have to be an issue any ever more. Do not be deceived -- banks are not the only locations you can get funding. Other solutions are offered and you do not have to borrow money. Exactly what is truck factoring ? One option is called trucking factoring. Trucking Factoring is the process of offering invoices to a financier rather than waiting to gather the cash from the client. Oh, the Irony- Truck factoring has an ironic difference: It is the financial foundation of numerous of America's most effective businesses. Why is this ironic ? Because commercial factoring is not instructed in business colleges, is seldom discussed in business plans and is fairly unidentified to the majority of most of American company individuals.

Yet it is a monetary process that frees billions of dollars every year, enabling countless companies to grow and prosper. Trucking Factoring has been around for countless years. Trucking Factoring Businesses are investors who pay money for the right to receive the future payments on your invoices. An overdue receivable or invoice has value. It is a debt your client has agreed pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business deals, a big portion of the retail business uses 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 consumer finance business are really simply large Commercial Factoring Companies of consumer paper. Consider it: You make a purchase at Sears and charge it to your MasterCard. The shop makes money almost immediately, although you do not make payment until you are ready.

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 Benefits Receivable Funding can offer many advantages to cash-hungry companies. Rather than wait 30, 60, 90 days or longer for payment on a product that has already been delivered, a company can factor (sell) its receivables for cash at a small price cut off the amount of the invoice. Payroll, marketing efforts, and working capital are just a few of the business needs that can be met with instant  money.

Factoring offers the means for a producer to renew inventory and make even more products to sell: There is no longer a need to wait for earlier sales to be paid. FACTORING is not simply a cash management device for manufacturers: Practically any type business can benefit from Receivable Loan Funding. Generally, a company that extends credit will have 10 to 20 percent of its annual sales tied up in invoices at any given time. Think for a moment about how much is bound in 60 days' worth of invoices: You can not pay the power expense or this week s payroll with a customer s invoice, however you can offer that invoice for the money to satisfy those responsibilities. Using truck factoring companies is a fast and simple process. The factoring company purchases the invoice at a price cut, typically a couple of portion points less than the face value of the invoice.

 

 

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The U.s. Truck Association
states that there around
195,000 work with transportation
companies and
250,000 private companies trucking
companies licensed to
run in the States that carried,
according to their newest data of millions
products, supplies and
standard products .
There are numerous typical
providers either going solo or in
groups on our nation
highways carrying these
crucial items to our
stores, manufacturing facilities and shipping ports.

And freight bill factoring
businesses aid
numerous of them and offer their
factoring facilities
countrywidecomprising
including the following states.

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

 

The Denver MSA has a gross metropolitan product of $157.6 billion in 2010, making it the 18th largest metro economy in the United States. Denver's economy is based partially on its geographic position and its connection to some of the major transportation systems of the country. Because Denver is the largest city within 500 miles (800 km), it has become a natural location for storage and distribution of goods and services to the Mountain States, Southwest states, as well as all western states. Another benefit for distribution is that Denver is nearly equidistant from large cities of the Midwest, such as Chicago and St. Louis and some large cities of the West Coast, such as Los Angeles and San Diego.Over the years, the city has been home to other large corporations in the central United States, making Denver a key trade point for the country. Several well-known companies originated in or have relocated to Denver. Instrument Company in 1895 to make analytical balances for gold assayers. Its factory is now in Arvada. �the largest owner and operator of apartment communities in the United States, with approximately 870 communities comprising nearly 136,000 units in 44 states�is headquartered in Denver, employing approximately 3,500 people. Also producer of automotive belts and hoses, was established in S. Denver in 1919. Denver. . Along with federal agencies come many companies based on US defense and space projects, and more jobs are brought to the city by virtue of its being the capital of the state of Colorado. The Denver area is home to the former nuclear weapons plant Rocky Flats, the Denver Federal Center, the Denver Mint and the National Renewable Energy Laboratory.In 2005, a $310.7 million expansion for the Colorado Convention Center was completed, doubling its size. The hope was that the center's expansion would elevate the city to one of the top 10 cities in the nation for holding a convention.Denver's position near the mineral-rich Rocky Mountains encouraged mining and energy companies to spring up in the area. In the early days of the city, gold and silver booms and busts played a large role in the economic success of the city. In the 1970s and early 1980s, the energy crisis in America and resulting high oil prices created an energy boom in Denver captured in the soap opera Dynasty. Denver was built up considerably during this time with the construction of many new downtown skyscrapers. When the price of oil dropped from $34 a barrel in 1981 to $9 a barrel in 1986, the Denver economy dropped with it, leaving almost 15,000 oil industry workers in the area unemployed (including former mayor and current governor r, a former geologist), and the highest office vacancy rate in the nation (30%). Since then, the industry has recovered and there remain 700 employed petroleum engineers in the region. Advances is hydraulic fracturing has made the DJ Basin of Colorado into an accessible and lucrative oil play. Energy and mining are still important in Denver's economy today, with companies such The Downtown region has seen increased real estate investment with the construction of several new skyscrapers set to be completed in 2010�2013.Denver has also enjoyed success as a pioneer in the fast casual restaurant industry, with many popular national chain restaurants founded and based in Denver. In 2013, Denver ranked No. 6 on list of the Best Places for Business and Careers

 

 

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Oilfield services Receivables Financing company Calculator
This calculator will show you how much you will make by using our Oilfield services Receivables Financing company . But, as your about todiscover, youwill certainly notice the increased cash flow that will occur when you use our Oilfield services Receivables Financing company
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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Enter the your Oilfield services Receivables Financing company's current interest rate:

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.

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.

 

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.

 

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.

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.

 

"

Edwards Truck and Haul has been in business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the heady times from 2002 to 2007, Edwards was a top rated accounts receivable mastermind of the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. 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, Edwards 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, Ryan Collins, CEO of Edwards felt a chill go down his spine whenever he would look at the weekly A/R reports. The numbers of clients who owed him back debt were growing.He had already been to the administrators to ask what the actual problem was. Were they doing things different, or wrong, when it came to collecting overdue accounts? When checking his bookkeeper's records this was definitely not the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Edwards 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 Edwards hadn't gone elsewhere. They had just gone home.The situation looked dire to Ryan Collins. There were goods to ship, employees to pay, trucks to repair and maintain, and continuous overheads that were very extensive when compared to the funds (or lack of) that were incoming. At night he would speak to his wife Joyce and shake his head in frustration.

 

""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would ask.Ryan would stare off into the distance, and then slowly close his eyes. He could see the fleet of trucks he had purchased over the years. He could see them traveling, bringing goods to all of his clients. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What on earth was happening to create the death of his business?""I know what it is,"" said Ryan. ""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."" 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.

 

""Joyce was trying so hard to support her husband in these worrying times, while Ryan was weighed down with the worry of how he was going to handle this situation he found himself in.The following day Ryan walked into his office with a spring in his step, determined to call each and every client who owed money to Edwards Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Ryan 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 Ryan was realising just how much trouble he was in.Poor Ryan 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.

 

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

 

""Sure thing Cheryl, come on in."" Ryan leaned back in his chair and looked expectantly at Cherylerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Ryan."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard of factoring?"" she asked.""It does sound 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?"" Ryan interrupted.""Yes, immediately,"" she continued, ""it is actually very simple. We start by having a professional account manager review our figures and help us set up a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.""Ryan replied cautiously ""I see - and what happens then?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

The company will advise us the cost to purchase factoring for our company's accounts receivable. The funding commences once we�ve arrived at an agreement.�Ryan leaned forward and reviewed the paperwork closely.""I do not know, Cheryl - it just sounds too good to be true"", Ryan said quietly.""Now, now, I know, I thought the same thing. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. And they're flexible Ryan,"" she underlined a paragraph on the paper before him.""How flexible?"" asked Ryan.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. Apparently they can figure this all out in two to four days.

 

""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. 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,"" Ryan said.Ryan took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Ryan thought about this and agreed with Cherylerley. The clients who owed them money were long standing friends and professional resources of Edwards. Ryan wasn't prepared to lose these relationships just because they were having financial issues at the moment. Ryan 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, if he handled these debtors incorrectly, could spell disaster for both of them. 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 Cheryl, and thankyou."" Cheryl nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Ryan 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 Edwards 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. In fact, Edwards 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 Timothy about this,"" Ryan muttered to himself.Timothy is Ryan's son-in-law, and he really admired the ideas behind Edwards, so much so that only two years before he had started his own transportation service business. Ryan knew then what struggles Timothy would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Edwards was hurting, a little guy like Timothy was about to catch his death. But, maybe the answer for both of them was in freight factoring, and Ryan was going to find out very soon.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Ryan was beginning to find his way out of the hole his debtors had created for him.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They took that time and refocused effort to offering competitive prices in new territories. Ryan 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.

 

"

 

The Denver MSA has a gross metropolitan product of $157.6 billion in 2010, making it the 18th largest metro economy in the United States. Denver's economy is based partially on its geographic position and its connection to some of the major transportation systems of the country. Because Denver is the largest city within 500 miles (800 km), it has become a natural location for storage and distribution of goods and services to the Mountain States, Southwest states, as well as all western states. Another benefit for distribution is that Denver is nearly equidistant from large cities of the Midwest, such as Chicago and St. Louis and some large cities of the West Coast, such as Los Angeles and San Diego.Over the years, the city has been home to other large corporations in the central United States, making Denver a key trade point for the country. Several well-known companies originated in or have relocated to Denver. Instrument Company in 1895 to make analytical balances for gold assayers. Its factory is now in Arvada. �the largest owner and operator of apartment communities in the United States, with approximately 870 communities comprising nearly 136,000 units in 44 states�is headquartered in Denver, employing approximately 3,500 people. Also producer of automotive belts and hoses, was established in S. Denver in 1919. Denver. . Along with federal agencies come many companies based on US defense and space projects, and more jobs are brought to the city by virtue of its being the capital of the state of Colorado. The Denver area is home to the former nuclear weapons plant Rocky Flats, the Denver Federal Center, the Denver Mint and the National Renewable Energy Laboratory.In 2005, a $310.7 million expansion for the Colorado Convention Center was completed, doubling its size. The hope was that the center's expansion would elevate the city to one of the top 10 cities in the nation for holding a convention.Denver's position near the mineral-rich Rocky Mountains encouraged mining and energy companies to spring up in the area. In the early days of the city, gold and silver booms and busts played a large role in the economic success of the city. In the 1970s and early 1980s, the energy crisis in America and resulting high oil prices created an energy boom in Denver captured in the soap opera Dynasty. Denver was built up considerably during this time with the construction of many new downtown skyscrapers. When the price of oil dropped from $34 a barrel in 1981 to $9 a barrel in 1986, the Denver economy dropped with it, leaving almost 15,000 oil industry workers in the area unemployed (including former mayor and current governor r, a former geologist), and the highest office vacancy rate in the nation (30%). Since then, the industry has recovered and there remain 700 employed petroleum engineers in the region. Advances is hydraulic fracturing has made the DJ Basin of Colorado into an accessible and lucrative oil play. Energy and mining are still important in Denver's economy today, with companies such The Downtown region has seen increased real estate investment with the construction of several new skyscrapers set to be completed in 2010�2013.Denver has also enjoyed success as a pioneer in the fast casual restaurant industry, with many popular national chain restaurants founded and based in Denver. In 2013, Denver ranked No. 6 on list of the Best Places for Business and Careers

 

 

More Trucking Factoring Companies Story Articles

"

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

 

Adam�s father had started as an owner-operator and had grown Gray 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 Adam�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 Adam'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. He had employees to pay. They had families and household bills too. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. He knew that turning down these requests made Gray 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. Adam allowed himself a good hard chuckle. 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?� 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. 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.

 

Adam knew he was right in his forward thinking. What would be the next step for Gray 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? There was a lot he didn�t understand about the process. It sounded like a ninth grade math problem and he wondered how this would fit into 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. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Adam 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. 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 colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

But it turned out to be quite easy. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He 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. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. Many companies offered a non-recourse factoring program that suited him just fine. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It sounded like a great scheme to him.

 

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 were not interested in his credit nor the financial problems his father had experienced in the past. Factoring was based on the credit of his customers and on their reliability which worked well for Adam because he and his father had built up good strong relationships over decades with their list of clients. So he knew they would understand when the factoring company contacted them for the invoices. His clients would not have any problems, nor would they think poorly of Gray Trucking, because the factoring companies handle themselves in such a polite and professional manner, similar to the way his father had managed the business in the past.

 

Feeling happier now, Adam stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. With the capabilities of this new cash flow, Adam could actually expand Gray Trucking Company further across the country and perhaps even go international into Canada. 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.

 

"

 

 

 

 

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Trucking Factoring  Articles

"

�So It is not a loan?� Ken Parker asked as he leaned back in his chair, crossing his legs. The woman who sat across the desk smiled and shook her head.�No, not exactly,� she stated.Ken 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 Angel. He named his business Wallace Trucking, named after Ryan and John, his two grandfathers. Both of these men had been very hardworking and had set a great example for Angel.Six months ago disaster struck Angel's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. Ken depended on his full fleet, and missing two trucks was devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Ken 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.Ken was an excellent business man, and he certainly hadn't done anything wrong. 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.That�s where the woman across the desk came in. Her name was Clara and she worked for a factoring company. Ken 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.Clara explained. �It�s not a loan, we purchase 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.Ken agreed. It sounded good to him, almost too good.Clara laughed. �I'm not sure that you believe me,� she said.�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.�Clara nodded. �We get that a lot. There's no way we want to see you lose your business. 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 Clara with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Ken completed the form, with Clara offering advice as needed.

 

The profile filled Clara and her company in on Angel�s company, and would help them determine if he was 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 Ken completed his form, Clara listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Clara took it and slid it into her briefcase. She then stood, reached across the desk and shook Angel�s hand. He stood before they shook as well, and then smiled. Ken walked Clara to the door where they said 'Goodbye', then he went back into his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He shut his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. But now, after speaking to Clara and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off 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. Already he could feel all the stress start to drain away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was there, he was on the right path, and he was working to make things right.His mind wandered back to the very beginning, when he first started his business. At twenty-two and straight out of school he had opened a restaurant. It had been really successful. Offering home cooking in his own hometown, his business had really prospered.But it wasn't what he really wanted to do. His passion didn�t lie with 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 Wallace Trucking. So he did it. For the second time in his short life he created a company from the ground up. He had been successful.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was about to turn fifty. He didn�t think he had it in him, to save this company. 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, because of factoring, he was sure he wouldn�t have to. Ken opened his eyes, sat forward, turned his computer on. 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

Precisely why Trucking Agencies Employ Factoring Companies.

 

As the manager of your own firm, you may perhaps be more than knowledgeable already of the challenge in making sure that capital issues do not become a predicament down the line. After all, the worst thing that can possibly develop for your business is to find yourself embroiled in a long and tough predicament that leaves you forever trying to find the cash you need on an continuous manner.

 

For any type of enterprise in this instance, the concern can come for waiting for work to lapse and actually be paid out into your statement. Statements, checks, and the like could take some time to actually to beprocessed which can leave you with temporary available resources difficulties. Thankfully, there are alternatives out there for enterprises to check out-- and just one of these is factoring companies.

 

Factoring providers will, in exchange for your statements, provide you with the cash money right now so that you do not have to worry about the waiting time frame that could make paying off the expenses and purchasing materialsmore hard. With this kind of setup, invoice factoring can come to be extremely valuable for various companies who need to avoid a cash trap which they have discovered themselves in.

 

For the reason that, depending on the size of the job, it can take up to 60 days for some business enterprises to get compensated then it is critical to take care of your own back and certainly not leave yourself funds short to pay the monthly bills. After all, how many enterprises possess two months cash flow just occupying there to handle all their expenses till they make money?

 

This is especially true of truck establishments. They generally manage good deals of statements which means a significant amount of collection time concerns company owner themselves. Making an effort to get paid off in time can develop into an amazing headache and this is the reason why you work with truck factoring organizations who are delighted to help out truckers primarily.

 

As most of us understand, trucking is an unbelievably huge field with numerous companies out there handling hundreds of vehicle drivers. Sadly, numerous of these drivers wind up in finances troubles simply because they are still waiting for work from six weeks back to actually compensate them. When this is the situation for a trucking agency, resorting to factoring agencies for assistance might be the most recommended choice left.

 

This implies that a truck firm can pay the salaries of the crew, keep all the trucks refilled with gas and continue to scale, flourish and expand without consistently waiting for the cash which is taking too prolonged to come in. Trucking Businesses operating without a factoring program established are leaving themselves at critical threat, as rivals cash out quickly and go on to broaden.

 

There's genuinely not a thing to be worried about when it comes to using a Factoring company-- they typically are not like a financial institution or an individual who is going to leave you with a big stack of liability to repay. You give them legitimate invoices from output you have already accomplished , you are only speeding up the payment process.

 

In the Usa, where truck firms develop, factoring enterprises are not considered getting a loan in any capacity. This confidential agreement then permits both parties to make money and take joy in a worry-free future-- it provides the factoring business a guaranteed asset of income to add to the list and it offers the trucking business the needed funds that they worked hard to acquire.

 

The trucking business provides their invoices to the factoring establishment. The trucking factoring company then take the installment payments from the trucking company's customers. Factoring has beenaround for hundreds of years and has been adopted for several years by several diverse business sectors-- but none more so than truckers. While you might lose out on a small part of the money, something like 1-3 % depending upon who you team up with, it implies that you are acquiring the finances today and can actually begin setting the funds to do work.

 

Once and for all, an IOU or an invoice is not going to cover expenses, is it? For trucking agencies when the funds can be fantastic one day and gone the next, it is up to the drivers to work sensibly and to make sure that they are leaving themselves with a substantial amount of time and finance to get through the week up until they are handed over once again.

 

So the next instance your trucking establishment is enduring some short-term capital dilemmas and you are devoting way too much time chasing sluggish paying customers, why not begin considering making use of a factoring companies as a means to get your cash and give yourself a more pleasant future in the eyes of your trucking crew and your bank balance?

 

 

 

 

 

 

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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. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Once the loan is paid off, you can then apply for another loan if the need arises.

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies do not offer loans, and you do not go into debt when you get money from a Trucking Factoring company. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once 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. You will not Incur Debt. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. 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. 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. You'll receive the 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. 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.You receive interest up-front. With a bank loan interest continues to build, and this has to be paid the whole time you have a business loan; however with a Trucking Factoring company there is no interest - they take it right off the top by deducting it from the total amount of receivable accounts. So 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. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

In addition, since the Trucking Factoring company evaluates the credit quality of your customers prior to purchasing the accounts receivable you gain valuable information into which customers are likely to pay and which ones are not so likely to pay.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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