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How To Get Rich With - Our Receivable Financing Company Can Give Your Truck Company The Cash You Need


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Medium-Size freight companies, specifically those who have actually not been around for extremely long, will often find it difficult to secure a loan. Banks are commonly hesitant to provide cash to companies that do not have a great deal of income and assets. They also want evidence of the practicality of a company and therefore require that many operations, especially little ones, been around for a specific amount of time prior to they are willing to turn over any cash. Because of this, a small company typically has few cash generating choices when requires arise. One choice readily available, however commonly overlooked, is invoice factoring. This is an exceptional way for a small company to get money.

 

For The Business Who Wants To Look Better - Choose A Trucking�Factoring Company  Instead Of A Traditional Bank Funding

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

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

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

Yet it is a financial procedure that frees billions of dollars every year, allowing thousands of businesses to grow and prosper. Receivable Loan Financing has actually been around for thousands of years. Accounts Receivable Factoring Companies are financiers who pay cash for the right to receive the future payments on your invoices. An overdue receivable or invoice has value. It is a financial obligation your customer has actually 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 deals. Using the purest definition of the word, these large consumer finance companies are truly simply big Accounts Receivable Factoring Businesses of consumer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The shop gets paid practically instantly, even though you do not pay up until you are prepared.

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

Commercial Factoring provides the means for a producer to renew stock and make more products to sell: There is no longer a need to wait for earlier sales to be paid. Receivable Loan Financing is not simply a money management tool for manufacturers: Almost any type company can take advantage of Receivable Funding. Generally, a business that extends credit will have 10 to 20 percent of its annual sales bound 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 today s payroll with a customer s invoice, however you can offer that invoice for the money to meet those responsibilities. Using trucking factoring companies is a fast and simple process. The factoring company buys the invoice at a price cut, usually a few percentage points less than the stated value of the invoice.

 

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The United states Transportation Organization states that there are about 195,000  employees with transportation companies and 250,000 private companies trucking firms certified to run in the States that  transferred, according to their latest data of millions  products, materials and standard materials . There are a number of  typical carriers either going solo or in teams on our country roadways transporting these vital products to our shops, manufacturingplants and shipping ports.

Furthermore truck factoring companies benefit numerous of them and offer their factoring facilities nationwide counting including the following states.

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

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Factoring Companies Calculator
This calculator will show you how much you will make by using our Factoring Companies . But, as your about to discover, you will certainly notice the increased cash flow that will occur when you use our Factoring Companies
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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 JOC Top 50 Trucking Companies list, based on data prepared by SJ Consulting Group in Pittsburgh.

 

Life of a Truck driver, like many other professionals can be very challenging, rewarding, and frustrating at the same time. �The Truckers Place.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

 

Life of a Truck driver, like many other professionals can be very challenging, rewarding, and frustrating at the same time. �The Truckers Place.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

 

EveryTruckJob.com 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 andbenefits offered. Search current driving jobs and fill out the EZ truck driver application customized for cdl trucking jobs

 

United States Trucking Companies

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.

EveryTruckJob.com 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 andbenefits offered. Search current driving jobs and fill out the EZ truck driver application customized for cdl trucking jobs

 

 

 

 

 

A global city, Boston is placed among the top 30 most economically powerful cities in the world.[131] Encompassing $363 billion, the Greater Boston metropolitan area has the sixth-largest economy in the country and 12th-largest in the world.[132]Boston's colleges and universities have a significant effect on the regional economy. Boston attracts more than 350,000 college students from around the world, who contribute more than $4.8 billion annually to the city's economy.[133][134] The area's schools are major employers and attract industries to the city and surrounding region. The city is home to a number of technology companies and is a hub for biotechnology, with the Milken Institute rating Boston as the top life sciences cluster in the country.[135] Boston receives the highest absolute amount of annual funding from the National Institutes of Health of all cities in the United States.[136] The city is also considered highly innovative for a variety of reasons that include the presence of academia, access to venture capital, and the presence of many high-tech companies.[21][137]Tourism comprises a large part of Boston's economy, with 21.2 million domestic and international visitors spending $8.3 billion in 2011.[138] Because of Boston's status as a state capital and the regional home of federal agencies, law and government are another major component of the city's economy.[32] The city is a major seaport along the United States' East Coast and the oldest continuously operated industrial and fishing port in the Western Hemisphere.[139]Other important industries are financial services, especially mutual funds and insurance.[32] Boston-based Fidelity Investments helped popularize the mutual fund in the 1980s and has made Boston one of the top financial cities in the United States.[22][140] The city is home to the headquarters of Santander Bank, and Boston is a center for venture capital firms. State Street Corporation, which specializes in asset management and custody services, is based in the city. Boston is a printing and publishing center[141] � Houghton Mifflin is headquartered within the city, along with Bedford-St. Martin's Press and Beacon Press. Pearson PLC publishing units also employ several hundred people in Boston. The city is home to three major convention centers�the Hynes Convention Center in the Back Bay, and the Seaport World Trade Center and Boston Convention and Exhibition Center on the South Boston waterfront.[142]Several major companies headquartered within Boston or nearby�especially along Route 128,[143] the center of the region's high-tech industry. In 2006 Boston and its metropolitan area ranked as the fourth-largest cybercity in the United States with 191,700 high-tech jobs

 

"

Miller Truck & Haul have been operating their business since the mid 1980s. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the boom times from 2002 to 2007 Miller 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. Times were great for everyone, and the cash was flowing.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 to a crawl

 

. Worse still, it was noticed by Miller 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 Miller, Richard Rodney, 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 something wrong or different when it came to reaching out to delinquent 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 Miller money had jumped ship and decided to leave him holding the bag.

 

. They couldn't afford to pay him their debt, but they could afford a lesser service, maybe. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. The had just gone!.To Richard Rodney the situation looked desperate. Richard 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. In the evenings he would discuss his concerns with his wife, Maria, and still find no relief from the worry and frustration.

 

""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""What could you do differently?"" she would say.Richard 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 somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. What on earth was happening to create the death of his business?""I think I know what it could be,"" Richard 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."" Maria would look at her husband lovingly, and holding his hand would say 'It's such a harsh economy these days and our clients must be having difficulty meeting their responsibilities'.""Richard knew very well that Maria was only trying to help, but his responsibilities weighed heavily on his shoulders and he knew he had better do something soon to resolve this situation.The next day Richard strolled into his office and was determined to sit down and make every phone call to every client who had owed Miller money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Richard 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. Wasting money, wasting time - even with the best of intentions, Richard knew that he was in trouble.

 

After a half day of contacting debtors in vain - they dodged his calls or promised to call back at worst or made minimal interest-only payments at best - he was about to throw in the towel when his secretary Minnieerley knocked at his door.

 

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

 

""Sure thing Minnie, come on in."" Richard relaxed back into his chair and looked up at Minnieerley.""Well Richard, this afternoon I did some research, trying to work out how we're going to get out of this mess."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard of factoring?"" she asked.""It sounds vaguely familiar. What is factoring""? he asked.She began, ""Well, it's really very simple. So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Richard interrupted ""Immediately?"".""Immediately, yes"" she added, ""It's 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. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It provides a very broad view.��Richard replied cautiously ""I see - and what happens then?��Following the completion of their review and once we've been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

The company will advise us the cost to purchase factoring for our company's accounts receivable. We come to an agreement and the funding starts pouring out.�Richard leaned forward and reviewed the paperwork closely.""I don't know, Minnie - it just sounds too good to be true"", Richard 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. They appear to be very flexible, Richard,"" she underlined a paragraph on the paper before him.""Just how flexible?"" he asked.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. 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's imperative that we keep the business rolling as usual, and every day we go unpaid we're getting closer and closer to dealing with some serious issues in both the short term and the long term,"" said Richard.Richard took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. This could be the answer to our prayers: it will solve many problems we're facing due to these unpaid debts.""Richard thought about this and agreed with Minnieerley. The clients who owed them money were long standing friends and professional resources of Miller. Richard wasn't prepared to lose these relationships just because they were having financial issues at the moment. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. He didn't want to lose business but he also didn't want to lose any more money.""Well, let me think about this tonight Minnie, thank you."" Minnie nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Richard keep the shirt on his back, and possibly hers too.Richard sat behind his desk and looked over the details Minnie had not mentioned in their meeting. What other issues could freight factoring help Miller 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, Miller 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 Troy about this,"" muttered Richard to himself.Troy is Richard's son-in-law, and he really admired the ideas behind Miller, so much so that only two years before he had started his own transportation service business. Richard knew then what struggles Troy would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Miller was struggling then the little guys, like Troy, were going to be in even more trouble.

 

But, an antidote may have been found in freight factoring and Richard was soon to find out.Some months later, having successfully gone through the entire process of the application, having experts study his credit history and statements and review his accounts receivable, Richard found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.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. Richard looked back on the dismal months of life before freight factoring and almost shuddered at the thought. If Richard hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

More Trucking Factoring Companies Story Articles

Factoring in the Future of a Trucking Business: A Story Ricardo Greene let the phone ring on his desk. He let his morning coffee cool and left his cigarette to ash itself in the tray, because he is trying to make the biggest decision ever for his trucking company. Greene Trucking Company had reached a turning point and he now had to make a decision as to whether he should sign up with a factoring company, and indeed if this would be a good or regrettable decision for his business.

 

Ricardo�s father had started as an owner-operator and had grown Greene Trucking Company into a fifteen trailer fleet over forty years. Yes, they had survived some very difficult times when it appeared like they might go under, and even Ricardo's mother had jumped into the cab at times to make hauls. His father had worked long enough to see the price of hires drop dramatically during the recession and to see the explosion of fuel prices afterwards. Now the company was solely in Ricardo�s hands and he wanted to live to see it in better shape for his sons.

 

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

 

His father would have told him to wait and to take his time adding on new technology. Ricardo allowed himself a good hard chuckle. His father had been against placing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). His father days were long gone and technology was actually an important improvement for the business such as having Qualcomm to cut down on fruitless time communicating on the phone for bills of lading.

 

Ricardo believed a successful man is always thinking of his next step. How would he take Greene Trucking to the next level? And how would he be able to afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

But was factoring the answer? There was a lot he didn�t understand about the process. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. Without this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Now it was time for Ricardo to do his homework. Ricardo 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. 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. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. 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 wouldn't 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. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It was good money.

 

It was really refreshing dealing with the factoring people. They were extremely helpful and more personable than the bank staff. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies 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 Ricardo 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 have any problems, nor would they think poorly of Greene 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, Ricardo 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. He suddenly realized that, with this new cash flow, he could actually expand Greene Trucking Company and who knows, move into Canada, which had always been his dream. 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 wouldn't be inheriting a financial mess.

 

 

 

 

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Trucking Factoring  Articles

�So, this is not a loan?� asked Edgar Lane, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�No, not exactly,� she stated.Edgar was the owner of a small trucking company which had fallen on some hard times recently. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Enrique. He named his business Mendoza Trucking, named after Billy and Glenn, his two grandfathers. Both of these men had been very hardworking and had set a great example for Enrique.Disaster had struck half a year ago, when two trucks in Enrique�s fifteen truck fleet went down. One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. Edgar 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 Edgar had on hand.A big problem a lot of trucking companies came across was how bills were paid in the industry. You could go a month or more before bills were completely paid off. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Edgar was an excellent business man, and he certainly hadn't done anything wrong. Certain events had occurred that he couldn't 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 Eleanor and she worked for a factoring company. He had accidentally come across her company one night when he was working late, searching the internet to see if there was some solution to his financial dilemma.She sat there now, and 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.Edgar nodded. It sounded good to him, almost too good.The woman laughed. �I'm not sure that you believe me,� she said.�Oh no, I do: it just sounds too good to be true. I thought I was going to lose my company.�Eleanor smiled, agreeing. �We get that a lot. Listen, I�d hate to see you lose your company. We know how hard you work, and that you've invested everything in your business. We all need help sometimes. That�s what we�re here for.��Well, I'm very grateful that you came to see me today.��It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� Eleanor said with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Edgar completed the form, with Eleanor offering advice as needed.

 

The completed profile gave Eleanor and her company all the information they needed on Enrique's business, and with this information they would determine if this business would in fact be suitable for Factoring. In truth, not all companies were. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. As Edgar completed his form, Eleanor listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Eleanor took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Enrique's hand. He also stood up, and they smiled at each other. They said their goodbyes and Edgar 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 shut his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. Talking to Eleanor though, learning about factoring, it felt like a weight had been lifted from his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.The long nights, where he couldn�t sleep. The terrifying panic attacks that occurred regardless of where he was. Already he could feel all the stress start to drain away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was 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.Edgar couldn�t help but think back to when he had first started the 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 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 Mendoza Trucking. So he did it. Once again he built a company from the ground up. The business had been an instant success.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was nearing fifty. He was concerned that he just didn't 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 didn't want to quit - both for himself and for his staff members.And now it seemed as though he wouldn't have to - all because of Factoring. Edgar opened his eyes, sat forward, turned his computer on. He had lots to do. He could be thankful later, for now, it was time to work.

 

 

 

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The reason why Truck Companies Use Factoring Companies.

 

As the operator of your own business, you may well be much more than aware already of the difficulty in making sure that capital issues do not become a problem down the line. After all, the most horrible thing that can possibly happen for your enterprise is to find yourself involved in a long and challenging circumstance that leaves you forever searching for the finances you require on an continuous basis.

 

For any type of enterprise in this condition, the challenge can come for waiting for work to lapse and actually be paid into your bank account. Statements, checks, and the like can take a while to actually to be taken care of which may leave you with momentary cash flow dilemmas. Fortunately, there are alternatives out there for establishments to delve into-- and just one of these is factoring agencies.

 

Factoring providers will, in substitution for your statements, provide you with the money immediately so that you don't have to worry about the delaying period that could make paying the expenses and getting toolsmore challenging. With this type of setup, invoice factoring can end up being remarkably valuable for countless companies who ought to get out of a cash trap which they have gotten themselves in.

 

Due to the fact that, relying on the scale of the job, it can take up to 60 days for a number of establishments to get paid out then it's necessary to cover your own back and not leave yourself resources short to pay the monthly bills. After all, how many business enterprises possess two months earnings just occupying there to handle all their overheads until they make money?

 

This is especially true of trucking agencies. They often tend to manage numbers of statements which means a considerable volume of collection period concerns company owner themselves. Seeking to get paid off promptly can turn into an extraordinary headache and this is precisely why you employ trucking factoring organizations who are thrilled to help out truckers mainly.

 

As all of us understand, trucking is an unbelievably big market with a lot of agencies out there utilizing hundreds of vehicle drivers. However, quite a few of these drivers wind up in income issues given that they are still waiting for work from six weeks in the past to actually compensate them. When this is the scenario for a truck agency, consulting factoring companies for solutions maybe the best option left.

 

This implies that a truck corporation can compensate the paychecks of the workers, keep all the vehicles filled with fuel and continue to surmount, thrive and expand without constantly waiting for the cash which is taking too long to come in. Trucking Companies working without a factoring system applied are leaving themselves at substantial risk, as competitors cash out fast and carry on to grow.

 

There's honestly nothing to be stressed about when it comes to using a Factoring contractor-- they usually are not like a financial institution or a person who is going to leave you with a huge pile of personal debt to repay. You give them authentic invoices from work you have already finished , you are simply speeding the repayment system.

 

In the Usa, where trucking enterprises do well, factoring agencies are not considered taking on loan in any capacity. This private contract then permits both parties to make money and indulge in a convenient future-- it provides the factoring firm a guaranteed asset of earnings to put into the list and it offers the trucking company the needed finances that they worked hard to earn.

 

The trucking establishment bestows their accounts to the factoring establishment. The trucking factoring company then acquire the payments from the trucking company's clients. Factoring has been all around for hundreds of years and has been adopted for long times by lots of varied fields-- but none exceeding so than truckers. While you might possibly miss out on a small part of the money, something like 1-3 % depending on who you collaborate with, it implies that you are getting the funds today and can actually begin putting the money to operate.

 

Once and for all, an IOU or an invoice is not going to fund overheads, is it? For trucking enterprises when the funds can be really good one day and gone the next, it's up to the drivers to work prudently and to make sure that they are leaving themselves with a considerable quantity of time and finance to get through the week till they are compensated once again.

 

So the next moment your trucking establishment is bearing some momentary cash flow concerns and you are putting in excessive time chasing sluggish paying clients, why not start off thinking about utilizing a factoring companies as a manner to get your finances and give yourself a more worry-free 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's 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 Won't Incur Debt. You don't 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 won't be affected. In the event that your business fails, you wouldn't 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 aren't 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 don't 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 don't 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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Invoice Factoring Companies by City

New York City
Los Angeles
Chicago
Houston
Philadelphia
Phoenix
San Antonio
San Diego
Dallas
San Jose

Austin
Jacksonville
Indianapolis
San Francisco
Columbus
Fort Worth
Charlotte
Detroit
El Paso
Memphis

Boston
Seattle
Denver
Washington DC
Nashville-Davidson
Baltimore
Louisville/Jefferson
Portland
Oklahoma City
Milwaukee

Las Vegas
Albuquerque
Tucson
Fresno
Sacramento
Long Beach
Kansas City
Mesa
Virginia Beach
Atlanta

Colorado Springs
Raleigh
Omaha
Miami
Oakland
Tulsa
Minneapolis
Cleveland
Wichita
Arlington

New Orleans
Bakersfield
Tampa
Honolulu
Anaheim
Aurora
Santa Ana
St. Louis
Riverside
Corpus Christi

Pittsburgh
Lexington Fayette
Anchorage
Stockton
Cincinnati
St. Paul
Toledo
Newark
Greensboro
Plano

Henderson
Lincoln
Buffalo
Fort Wayne
Jersey
Chula Vista
Orlando
St. Petersburg
Norfolk
Chandler

Laredo
Madison
Durham
Lubbock
Winston Salem
Garland
Glendale
Hialeah
Reno
Baton Rouge

Irvine
Chesapeake
Irving
Scottsdale
North Las Vegas
Fremont
Gilbert town
San Bernardino
Boise
Birmingham
Rochester
Richmond
Spokane
Des Moines