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How To Get More Cash - Our Freight Invoice Factoring Companies Can Provide
Your Freight Company The Money You Want

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Using a Truck Factoring Company is useful for several reasons. It allows a truck company to raise money without obtaining brand-new financial obligation. While financial obligation is occasionally necessary, many freight broker firm would like to raise money without borrowing money. Financial obligation is dangerous, and when it can not be paid back, possessions can be repossessed. If the financial obligation is big enough, it may even require a trucking firms out of business.

 

 

 

 

 

 

 

Here Is a Quick way to Shore Up Your Cash Flow - Select A Freight�Factoring Company  Instead Of A Regular Bank Financing

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

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

Money flow does not have to be a problem any ever more. Do not be deceived -- banks are not the only places you can get financing. Other solutions are offered and you do not have to borrow money. Exactly what is trucking factoring ? One solution is called trucking factoring. Trucking Factoring is the process of selling accounts receivable to a financier instead of waiting to collect the cash from the client. Oh, the Irony- Trucking factoring has a paradoxical distinction: It is the monetary backbone of numerous of America's most effective businesses. Why is this ironic ? Because trucking factoring is not taught in business colleges, is seldom mentioned in company plans and is fairly unidentified to bulk of most of American company people.

Yet it is a financial procedure that frees billions of dollars every year, enabling thousands of businesses to grow and succeed. FACTORING has been around for countless years. Factoring Companies are investors who pay money for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your client has to pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business deals, a large percentage of the retail business uses a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail transactions. Using the purest definition of the word, these large customer finance companies are truly just big Receivable Loan Funding Businesses of consumer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The store makes money almost immediately, even though you do not make payment up until you are ready.

For this service, the charge card business charges Sears a charge (typical common normal fees range from two to 4 percent of the sale). The Advantages Receivable Funding can offer many benefits to cash-hungry business. Instead of waiting 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 little price cut off the amount of the invoice. Payroll, advertising efforts, and working capital are simply a few of the company needs that can be met with instant  cash.

Trucking Factoring offers the means for a producer to replenish 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 producers: Practically any kind business can take advantage of Commercial Factoring. Typically, a company that extends credit will have 10 to 20 percent of its yearly sales bound 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 this week s payroll with a client s invoice, but you can offer that invoice for the cash to meet those obligations. Using truck factoring companies is a quick and easy procedure. The factoring company buys the invoice at a discount, typically a couple of portion points less than the stated value of the invoice.

 

 

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The U.s. Truck Association
specifies that there are about
200,000 employees with transportation
businesses and
250,000 private providers trucking
companies accredited to
run in the U.S. that transported,
according to their latest data of millions
items, supplies and
basic materials .
There are numerous typical
carriers either going solo or in
groups on our country
roadways transferring these
vital items to our
shops, factories and harbors.

Furthermore freight factoring
companies service
several of them and offer their
accounts receivablesfinancing services
nationallycounting
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

 

"

Jacksonville's location on the St. Johns River and the Atlantic Ocean proved providential in the growth of the city and its industry. Jacksonville has the largest deepwater port in the South (as well as the second-largest port on the U.S. East coast) and a leading port in the U.S. for automobile imports, as well as the leading transportation and distribution hub in the state. However, the strength of the city's economy lies in its broad diversification. While the area once had many thriving dairies, this aspect of the economy has declined over time. The area's economy is balanced among distribution, financial services, biomedical technology, consumer goods, information services, manufacturing, insurance and other industries.Jacksonville is a rail, air, and highway focal point and a busy port of entry, with Jacksonville International Airport, ship repair yards and extensive freight-handling facilities. Lumber, phosphate, paper, cigars and wood pulp are the principal exports; automobiles and coffee are among imports. The city's manufacturing base provides just 4.5% of local jobs, versus 8.5% nationally. According to in 2007, Jacksonville, Florida ranked 3rd in the top ten U.S. cities to relocate to find a job. Jacksonville was also the 10th fastest growing city in the U.S.Jacksonville is home to many prominent corporations and organizations, including the headquarters of four Fortune 500 companies: are also based in Jacksonville.In 2008, Jacksonville had approximately 2.8 million visitors who stayed overnight, spending nearly $1 billion. Research Data Services of Tampa was commissioned to undertake the study, which quantified the importance of tourism. The total economic impact was $1.6 billion and supported nearly 43,000 jobs, 10% of the local workforce.Cecil Commerce Center is located on the site of the former Naval Air Station Cecil Field which closed in 1999 following the 1993 Base Realignment and Closure (BRAC) decision. Covering a total area of 22,939 acres (92.83 km2), it was the largest military base in the Jacksonville area. The parcel contains more than 3% of the total land area in Duval County (17,000 acres (69 km2)). The industrial and commercial-zoned center offers mid to large-size parcels for development and boasts excellent transportation and utility infrastructure as well as the third-longest runway in Florida.To emphasize the city's transportation business and capabilities, the Jacksonville It was formally registered on August 4, 2009. Cornerstone began promoting the city as ""Jacksonville: America's Logistics Center"" in 2009. Signs were added to the existing city limit markers on Interstate 95.Jacksonville is home to multiple military facilities, and with Naval Submarine Base Kings Bay nearby gives Jacksonville the third largest naval presence in the country. Only Norfolk, Virginia and San Diego, California are bigger. The military is by far the largest employer in Jacksonville and its total economic impact is approximately $6.1 billion annually. Blount Island Terminal with the Dames Point Bridge in the background.Naval Air Station Jacksonville is a military airport located 4 miles (6.4 km) south of the central business district. Approximately 23,000 civilian and active-duty personnel are employed on the base. There are 35 operational units/squadrons assigned there and support facilities include an airfield for pilot training, a maintenance depot capable of virtually any task, from changing a tire to intricate micro-electronics or total engine disassembly. Also on-site is a Naval Hospital, a Fleet Industrial Supply Center, a Navy Family Service Center, and recreational facilities.Naval Station Mayport is a Navy Ship Base that is the third largest fleet concentration area in the United States. Mayport's operational composition is unique, with a busy harbor capable of accommodating 34 ships and an 8,000-foot (2,400 m) runway capable of handling any aircraft used by the Department of Defense. Until 2007, it was home to the aircraft carrier USS John F. Kennedy, which locals called ""Big John"". In January 2009, the Navy committed to stationing a nuclear-powered carrier at Mayport when the official Record of Decision was signed. The port will require approximately $500 million in facility enhancements to support the larger vessel, which will take several years to complete. The carrier is projected to arrive in 2019, however an amphibious group is coming sooner.Blount Island Command is a Marine Corps Logistics Base whose mission is to support the Maritime Prepositioning Force (MPF) which provides for rapid deployment of personnel to link up with prepositioned equipment and supplies embarked aboard forward deployed Maritime Prepositioning Ships (MPS).USS Jacksonville, a nuclear-powered Los Angeles class submarine, is a US Navy ship named for the city. The ship's nickname is The Bold One and Norfolk, Virginia is her home port.The Florida Air National Guard is based at Jacksonville International Airport.Coast Guard Sector Jacksonville is located on the St. Johns River next to Naval Station Mayport. Sector Jacksonville controls operations from Kings Bay, GA south to Cape Canaveral, FL. The CGC Kingfisher, CGC Maria Bray, and CGC Hammer are stationed at the Sector. Station Mayport is co-located with Sector Jacksonville and includes 25-foot (7.6 m) Response Boats, and 47-foot (14 m) Motor Life Boats.The Port of Jacksonville, a seaport on the St. Johns River, is a large component of the local economy. Approximately 50,000 jobs in Northeast Florida are related to port activity and the port has an economic impact of $2.7 billion in Northeast Florida

 

"

 

View Our Factoring YouTube Video For More Information

 

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

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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

 

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

 

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

 

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

 

 

"

Reyes 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 boom times from 2002 to 2007 Reyes 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. The money was flowing, and times were great.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed to a crawl

 

. Worse still, it was noticed by Reyes in early 2008 that even though most of their loyal customers were on time with their payments, there were a few late bloomers who were starting to spread the disease. Spring changed to summer, summer changed to fall, and the CEO of Reyes, Alexander Williamson, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The numbers of clients who owed him back debt were growing.He had gone to his administrators and asked them what the problem had been. Were they doing things different, or wrong, when it came to collecting overdue accounts? By his bookkeepers records, this wasn't the case. 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 Reyes 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 Reyes hadn't gone elsewhere. The had just gone!.This current state-of-affairs was causing Alexander Williamson to have some very restless nights. Alexander was very concerned, because there were constant overheads, goods to ship, employees to pay, and trucks which needed to be maintained, but there just wasn't the money coming back into the business. After work he would confide in his wife, Debbie, and neither were unable to stop the constant worry over the lack of funds.""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""What could you do differently?"" she would ask.Alexander 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 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 think I know what it could be,"" Alexander said. ""For way too long I've been relying solely on profits received from invoices. I've let too many of our customers go too long without paying on their bills."" Debbie 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'.""Debbie was trying so hard to support her husband in these worrying times, while Alexander was weighed down with the worry of how he was going to handle this situation he found himself in.The next day Alexander strolled into his office and was determined to sit down and make every phone call to every client who had owed Reyes 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. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. Wasting money, wasting time - even with the best of intentions, Alexander knew that he was in trouble.

 

Poor Alexander 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.

 

""Can I have a word with you Alexander?"" she queried, standing in the doorway.

 

""Of course Lauren, please come in."" Alexander leaned back in his chair and looked expectantly at Laurenerely.""Well Alexander, 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 the word factoring?"" she asked.""It does sound 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?"" Alexander 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.""Alexander 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.

 

This company tells us what the cost will be to purchase factoring for our accounts receivable. Once we arrive at a mutual agreement, the funding begins.�Alexander was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Lauren,"" he said.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Alexander: they've guaranteed that experts will do all the paperwork, and that will free us up to do what we should be doing - focusing on our customers in good standing, and that kind of stuff. They appear to be very flexible, Alexander,"" she underlined a paragraph on the paper before him.""How flexible?"" he asked.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. It only takes 2 to 4 days for this to be figured out. ""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" said Alexander.Alexander took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Alexander thought about this and agreed with Laurenerley. The customers who were in debt to Reyes Truck & Haul were professional resources of the company, but they were also long-standing friends. Alexander wasn't prepared to lose these relationships just because they were having financial issues at the moment. Alexander knew only too well that the whole economy was floundering, and that it was not going to change overnight. That unknown amount of time could create a disaster situation for both of them if he wasn't careful in how these debtors were handled. Of course he did not want to lose any more money, but he did not want to lose business either.""Let me go over this tonight Lauren, and thankyou."" Lauren nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Alexander keep the shirt on his back, and possibly hers too.Alexander sat behind his desk and looked over the details Lauren had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Reyes Truck & Haul with? With his pencil gliding down the sheet he noticed that the factoring company could help fray the cost of fuel with fuel discount cards and fuel advances. In fact, Reyes 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.""I must tell Joel the good news,"" Alexander muttered to himself.His son-in-law Joel had liked the idea of Reyes so much and revered his father in law for having such business acumen that only two years before, he had gathered the venture capital to begin his own transportation service company. Alexander knew then what struggles Joel would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Reyes was struggling then the little guys, like Joel, were going to be in even more trouble.

 

But, maybe the answer for both of them was in freight factoring, and Alexander 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 Alexander 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. Alexander recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. If Alexander hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

"

Jacksonville's location on the St. Johns River and the Atlantic Ocean proved providential in the growth of the city and its industry. Jacksonville has the largest deepwater port in the South (as well as the second-largest port on the U.S. East coast) and a leading port in the U.S. for automobile imports, as well as the leading transportation and distribution hub in the state. However, the strength of the city's economy lies in its broad diversification. While the area once had many thriving dairies, this aspect of the economy has declined over time. The area's economy is balanced among distribution, financial services, biomedical technology, consumer goods, information services, manufacturing, insurance and other industries.Jacksonville is a rail, air, and highway focal point and a busy port of entry, with Jacksonville International Airport, ship repair yards and extensive freight-handling facilities. Lumber, phosphate, paper, cigars and wood pulp are the principal exports; automobiles and coffee are among imports. The city's manufacturing base provides just 4.5% of local jobs, versus 8.5% nationally. According to in 2007, Jacksonville, Florida ranked 3rd in the top ten U.S. cities to relocate to find a job. Jacksonville was also the 10th fastest growing city in the U.S.Jacksonville is home to many prominent corporations and organizations, including the headquarters of four Fortune 500 companies: are also based in Jacksonville.In 2008, Jacksonville had approximately 2.8 million visitors who stayed overnight, spending nearly $1 billion. Research Data Services of Tampa was commissioned to undertake the study, which quantified the importance of tourism. The total economic impact was $1.6 billion and supported nearly 43,000 jobs, 10% of the local workforce.Cecil Commerce Center is located on the site of the former Naval Air Station Cecil Field which closed in 1999 following the 1993 Base Realignment and Closure (BRAC) decision. Covering a total area of 22,939 acres (92.83 km2), it was the largest military base in the Jacksonville area. The parcel contains more than 3% of the total land area in Duval County (17,000 acres (69 km2)). The industrial and commercial-zoned center offers mid to large-size parcels for development and boasts excellent transportation and utility infrastructure as well as the third-longest runway in Florida.To emphasize the city's transportation business and capabilities, the Jacksonville It was formally registered on August 4, 2009. Cornerstone began promoting the city as ""Jacksonville: America's Logistics Center"" in 2009. Signs were added to the existing city limit markers on Interstate 95.Jacksonville is home to multiple military facilities, and with Naval Submarine Base Kings Bay nearby gives Jacksonville the third largest naval presence in the country. Only Norfolk, Virginia and San Diego, California are bigger. The military is by far the largest employer in Jacksonville and its total economic impact is approximately $6.1 billion annually. Blount Island Terminal with the Dames Point Bridge in the background.Naval Air Station Jacksonville is a military airport located 4 miles (6.4 km) south of the central business district. Approximately 23,000 civilian and active-duty personnel are employed on the base. There are 35 operational units/squadrons assigned there and support facilities include an airfield for pilot training, a maintenance depot capable of virtually any task, from changing a tire to intricate micro-electronics or total engine disassembly. Also on-site is a Naval Hospital, a Fleet Industrial Supply Center, a Navy Family Service Center, and recreational facilities.Naval Station Mayport is a Navy Ship Base that is the third largest fleet concentration area in the United States. Mayport's operational composition is unique, with a busy harbor capable of accommodating 34 ships and an 8,000-foot (2,400 m) runway capable of handling any aircraft used by the Department of Defense. Until 2007, it was home to the aircraft carrier USS John F. Kennedy, which locals called ""Big John"". In January 2009, the Navy committed to stationing a nuclear-powered carrier at Mayport when the official Record of Decision was signed. The port will require approximately $500 million in facility enhancements to support the larger vessel, which will take several years to complete. The carrier is projected to arrive in 2019, however an amphibious group is coming sooner.Blount Island Command is a Marine Corps Logistics Base whose mission is to support the Maritime Prepositioning Force (MPF) which provides for rapid deployment of personnel to link up with prepositioned equipment and supplies embarked aboard forward deployed Maritime Prepositioning Ships (MPS).USS Jacksonville, a nuclear-powered Los Angeles class submarine, is a US Navy ship named for the city. The ship's nickname is The Bold One and Norfolk, Virginia is her home port.The Florida Air National Guard is based at Jacksonville International Airport.Coast Guard Sector Jacksonville is located on the St. Johns River next to Naval Station Mayport. Sector Jacksonville controls operations from Kings Bay, GA south to Cape Canaveral, FL. The CGC Kingfisher, CGC Maria Bray, and CGC Hammer are stationed at the Sector. Station Mayport is co-located with Sector Jacksonville and includes 25-foot (7.6 m) Response Boats, and 47-foot (14 m) Motor Life Boats.The Port of Jacksonville, a seaport on the St. Johns River, is a large component of the local economy. Approximately 50,000 jobs in Northeast Florida are related to port activity and the port has an economic impact of $2.7 billion in Northeast Florida

 

"

 

More Trucking Factoring Companies Story Articles

"

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

 

More than forty years ago Daniel's father had started this business working as an owner-operator and eventually growing Thomas Trucking Company into a fifteen trailer fleet. There had been some hard times when it seemed everything was going to go under and even Daniel�s mother strapped herself into a cab to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. Now the company was solely in Daniel�s hands and he wanted to live to see it in better shape for his sons.

 

To move Thomas Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. His employees needed to be paid. They had families and household bills too. 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 Thomas 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. Daniel 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?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. He knew his father's days were long gone and new technology was very important for the business, like having Qualcomm to reduce communication time for bills of lading.

 

Daniel believed a successful man is always thinking of his next step. What would be the next step for Thomas Trucking? More importantly, how could he afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

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. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. Without 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.

 

Now it was time for Daniel to do his homework. Daniel 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 colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

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 was quite happy to sign an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. 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 was good money.

 

For Daniel it was quite a relief to be dealing with the factoring company. They were more personable than those loan managers at the bank. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar for a handout. The factoring companies didn�t worry over his credit and the debt troubles his father had had in the past of the company. Factoring was based on the credit of his customers and on their reliability which worked well for Daniel 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 wouldn�t think poorly of Thomas Trucking and the factoring companies appeared capable of handling the accounts receivable in the same polite manner that his father had used over the years.

 

Daniel 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. With the capabilities of this new cash flow, Daniel could actually expand Thomas Trucking Company further across the country and perhaps even go international into Canada. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

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Trucking Factoring  Articles

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�So, this is not a loan?� Henry Flores 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 said.Henry Flores owned a small trucking company, and his business had recently fallen on difficult times. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Roberto. He named his business Tucker Trucking, named after Lance and Vincent, his two grandfathers. Both of these men had been very hardworking and had set a great example for Roberto.Six months ago disaster struck Roberto'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. The financial security of Roberto's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

Waiting a month or longer for bills to be paid was quite normal. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Henry wasn�t a bad owner, and he hadn�t messed up. 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.That�s where the woman across the desk came in. Her name was Eva and she worked for a factoring company. Henry 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.Eva 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.Henry nodded. It sounded perfect - perhaps too good?.Eva 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.�Eva smiled, agreeing. �Yes, we get a lot of that. 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.""Well, I'm very grateful that you came to see me today.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� Eva said with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Henry completed the form, with Eva offering advice as needed.

 

The completed profile gave Eva and her company all the information they needed on Roberto's business, and with this information they would determine if this business would in fact be suitable for Factoring. Unfortunately, not all companies are. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. As Henry completed his form, Eva listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Eva took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Roberto's hand. He stood before they shook as well, and then smiled. They said their goodbyes and Henry walked her to the door, and then returned to his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He leaned back and closed his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. Talking to Eva though, learning about factoring, it felt like a weight had been lifted from his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.All those long, sleepless nights. The terrifying panic attacks that occurred regardless of where he was. He could feel it all fading away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was 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.His mind wandered back to the very beginning, when he first started his business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been really 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 six months off, and during that time he decided to create Tucker Trucking. And that's exactly what he did. 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 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, because of factoring, he was sure he wouldn�t have to. Henry opened his eyes, sat forward, turned his computer on. He had things 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 Truck Companies Employ Factoring Companies.

 

As the owner of your own business, you may be more than knowledgeable already of the difficulty in making certain that capital matters do not become a problem down the line. Anyway, the most unfortunate thing that can potentially transpire for your business is to find yourself swept up in a long and perplexing circumstance that leaves you forever trying to find the cash you necessitate on an ongoing basis.

 

For any type of business enterprise in this position, the challenge can come for waiting for work to clear up and actually be compensated into your balance. Statements, checks, and the like can take a while to actually to beprocessed which can certainly leave you with momentary capital issues. Thankfully, there are options out there for industries to look into-- and just one of these is factoring companies.

 

Factoring agencies will, in trade for your invoices, supply you with the cash immediately to ensure you do not have to fret about the waiting time span which could make paying out the expenses and purchasing toolsmore tough. With this form of setup, invoice factoring can end up being exceptionally valuable for lots of businesses who have to avoid a money lure which they have found themselves in.

 

Because, basing on the volume of the work, it can take up to 60 days for many companies to get paid then it is significant to blanket your own back and definitely not leave yourself money short to pay the expenses. After all, how many establishments have two months cash flow just occupying there to cover all their expenditures till they make money?

 

This is most notably correct of trucking agencies. They generally manage tons of statements which means a substantial volume of collection period entails business owner themselves. Making an effort to get paid in time can eventually become an incredible inconvenience and this is why you utilize truck factoring agencies who are pleased to help out truckers exclusively.

 

As we all determine, trucking is an remarkably big market with numerous companies out there employing hundreds of vehicle drivers. Regrettably, several of these drivers end up in money predicaments considering that they are still anticipating work from six weeks earlier to actually compensate them. When this is the circumstance for a truck agency, resorting to factoring agencies for support maybe the most recommended alternative left.

 

This implies that a truck company can pay off the salaries of the staff, keep all the vehicles filled with gas and continue to go up, progress and expand without always waiting for the cash which is taking too prolonged to come in. Trucking Establishments running without a factoring program used are leaving themselves at significant risk, as rivals cash out promptly and carry on to grow.

 

There's genuinely nothing to be worried about when it comes to working with a Factoring company-- they typically are not like a financial institution or an individual who is going to leave you with a big pile of financial obligation to pay back. You give them genuine invoices from work you have already accomplished , you are merely expediting the repayment process.

 

In the Usa, where truck companies succeed, factoring firms are not considered accepting loan of in any capacity. This confidential deal then makes it possible for both parties to profit and indulge in a comfortable future-- it gives the factoring business a guaranteed asset of revenue to include in the list and it supplies the trucking business the needed finances that they sweated to earn.

 

The trucking establishment provides their accounts to the factoring business. The trucking factoring provider then take the payment amounts from the trucking company's clients. Factoring has been all around for hundreds of years and has been used for several years by several diverse business sectors-- but none more so than truckers. While you might miss out on a small part of the money, something like 1-3 % depending on who you team up with, it indicates that you are acquiring the resources today and can actually start off setting the funds to perform.

 

Once and for all, an IOU or an invoice is not actually going to cover costs, is it? For trucking enterprises when the hard earned cash can be very good one day and gone the next, it is up to the vehicle drivers to work sensibly and to make certain they are leaving themselves with a significant amount of time and money to get through the week until they are paid for once more.

 

So the next period your trucking business is having some short-term cash flow concerns and you are shelling out way too much time chasing sluggish paying clients, why not start thinking about utilizing a factoring companies as a manner to get your cash and give yourself a more convenient future in the eyes of your trucking team 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. 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. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once you have set up Trucking Factoring account it continues as long as you wish it too and the amount of money available to you even can grow as your business grows, giving you the ready cash you need to meet your own obligations.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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

 

1. 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. 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. There's no collateral required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

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

 

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

 

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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