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They Grinned When the Banker Spoke to Me in French - Our Freight Factoring Companies Can Give
Your Freight Company The Cash Your Company Needs

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Small trucking companies, particularly those who have not been in existence for very long, will frequently find it hard to protect a loan. Banks are often hesitant to lend cash to businesses that do not have a great deal of earnings and assets. They likewise desire proof of the viability of a company and hence need that many operations, particularly little ones, be in business for a particular amount of time prior to they are willing to hand over any money. Since of this, a medium-size business commonly has a couple of cash creating alternatives when requires emerge. One alternative available, however frequently overlooked, is invoice factoring. This is an exceptional way for a small business to obtain money.

 

 

 

 

 

 

 

Little Cash Flow Leaks That Keep Companies Poor - Select A Truck�Factoring Company  Instead Of A Typical Bank Funding

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

At one time or another, every company, even successful ones, have experienced bad cash flow.

Cash flow does not have to be an issue any more. Do not be deceived -- banks are not the only places you can get funding. Other solutions are available and you do not have to borrow. Exactly what is trucking factoring ? One solution is called trucking factoring. Trucking Factoring is the process of offering accounts receivable to a financier rather than waiting to gather the money from the customer. Oh, the Irony- Truck factoring has a paradoxical difference: It is the monetary foundation of numerous of America's most successful businesses. Why is this ironic ? Because receivable funding is not taught in business colleges, is rarely mentioned in business plans and is relatively unknown to bulk of most of American business individuals.

Yet it is a monetary process that frees billions of dollars every year, enabling thousands of businesses to grow and succeed. Commercial Factoring has actually been around for thousands of years. Invoice Factoring Businesses are financiers who pay cash for the right to get the future payments on your invoices. An overdue receivable or invoice has value. It is a debt your client has agreed pay in the near future. Factoring Principals--Although factoring offers solely with business-to-business transactions, a big percentage of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a type of factoring in their retail deals. Using the purest definition of the word, these large consumer finance companies are really simply large Truck Factoring Businesses of customer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The store makes money almost immediately, even though you do not make payment until you are prepared.

For this service, the credit card business charges Sears a charge (typical common normal fees vary from two to four percent of the sale). The Benefits Invoice Factoring can provide many benefits 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 business can factor (sell) its receivables for cash at a little discount 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  cash.

Factoring offers the means for a producer to replenish stock and make more items to sell: There is no longer a requirement to wait for earlier sales to be paid. FACTORING is not just a money management tool for manufacturers: Almost any kind company can take advantage of Staffing Factoring. Typically, a business that extends credit will have 10 to 20 percent of its annual sales bound in accounts receivable at any given time. Think for a minute 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 cash to satisfy those obligations. Using truck factoring companies is a quick and easy procedure. The factoring company purchases the invoice at a discount, typically a few percentage points less than the stated value of the invoice.

 

 

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The U.s. Transportation Association
specifies that there are about
195,000 work with truck
businesses and
300,000 private service providers trucking
companies licensed to
operate in America that transferred,
according to their latest data of millions
products, supplies and
basic products .
There are a number of usual
carriers either going solo or in
teams on our country
highways transporting these
important items to our
stores, manufacturingplants and harbors.

And freight invoice factoring
businesses support
several of them and offer their
factoring facilities
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

 

"

Encompassing $304 billion, the Atlanta metropolitan area is the eighth-largest economy in the country and 17th-largest in the world. Corporate operations comprise a large portion of the Atlanta's economy, with the city serving as the regional, national, or global headquarters for many corporations. Atlanta contains the country's third largest concentration of Fortune 500 companies, and the city is the global headquarters of corporations such as Over 75 percent of Fortune 1000 companies conduct business operations in the Atlanta metropolitan area, and the region hosts offices of about 1,250 multinational corporations. Many corporations are drawn to Atlanta on account of the city's educated workforce; as of 2010, nearly 43% of adults in the city of Atlanta have college degrees, compared to 27% in the nation as a whole. world headquartersAtlanta began as a railroad town and logistics has remained a major component of the city's economy to this day. Atlanta is an important rail junction and contains major classification yards for . Since its construction in the 1950s, Hartsfield-Jackson Atlanta International Airport has served as a key engine of Atlanta's economic growth. Delta Air Lines, the city's largest employer and the metro area's third largest, operates the world's largest airline hub at Hartsfield-Jackson Atlanta International Airport and has helped make Hartsfield-Jackson the world's busiest airport, both in terms of passenger traffic and aircraft operations. Partly due to the airport, Atlanta has become a hub for diplomatic missions; as of 2012, the city contains 25 general consulates, the seventh-highest concentration of diplomatic missions in the United States.Media is also an important aspect of Atlanta's economy. The city is a major cable television programming center. the country's third-largest cable television service and the publisher of over a dozen major American newspapers, is headquartered in the city. T. Indeed, Atlanta has been nicknamed the Silicon peach due to its burgeoning technology sector. As of 2013, Atlanta contains the fourth-largest concentration of information technology jobs in the United States, numbering 85,000. Atlanta also ranks as the sixth-fastest growing city for information technology jobs, with an employment growth of 4.8% in 2012 and a three-year growth near 9%, or 16,000 jobs. Information technology companies are drawn to Atlanta's lower costs and educated workforce.Largely due to a state-wide tax incentive enacted in 2005, the Georgia Entertainment Industry Investment Act, which awards qualified productions a transferable income tax credit of 20% of all in-state costs for film and television investments of $500,000 or more, Atlanta has become a center for film and television production. Film and television production facilities in Film and television production injected $1 billion into Georgia's economy in 2010, with Atlanta garnering most of the projects. Atlanta has gained recognition as a center of production of horror and zombie-related productions, with Atlanta magazine dubbing the city the ""Zombie Capital of the World"". newsroomCompared to its peer cities, Atlanta's economy has been disproportionately affected by the 2008 financial crisis and the subsequent recession. The city's economic problems are displayed in its elevated unemployment rate, declining real income levels, and depressed housing market. From 2010-2011, Atlanta saw a 0.9% contraction in employment and a meager 0.4% rise in income. As of 2012, the unemployment rate in Atlanta was over 9%, higher than the national average of 8.2%. These dismal statistics have garnered Atlanta recognition as one of the world's worst economic performers, with the city's economy earning a ranking of 189 among 200 global cities, down from a ranking of 89 during the 1990s, when the city realized 1.6% income growth and 2.6% employment growth. However, even when the 2008-2009 period is excluded, the 2001-2007 period is still one of the worst on record for Atlanta: the city never recovered the jobs it lost during the Early 2000s recession, and per capita income declined nearly 5% from 2000 to 2006, the largest decline among major U.S. cities. Thus, Atlanta's current economic crisis was only worsened, and not caused, by the Recession. Adding to the city's employment and income woes is the spectacular collapse of its housing market. Atlanta home prices fell by 2.1% in January 2012, reaching levels not seen since 1996, a decline that measured among the worst in the country. Compared with a year earlier, the average home price in Atlanta fell 17.3% in February 2012, the largest annual drop in the history of the index for any city. Atlanta home values average $85,000 as of January 2012, second-worst among major metropolitan areas, coming in just behind Detroit. This unprecedented collapse in home prices has led some economists to deem Atlanta the worst housing market in the country. Nevertheless, in August 2013, Atlanta appeared on magazine's list of the Best Places for Business and Careers

 

"

 

View Our Truck Factoring Companies YouTube Videos For More Information

 

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

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

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

 

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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

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

 

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.

 

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

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

 

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

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

 

 

"

Since the mid 1980s Roberts Truck & Haul have been successfully running their freight business. 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 Roberts Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. Cash was flowing and times were good for all.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed down. Worse still, it was noticed by Roberts 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 Roberts, Peter Burke, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. There was a growing list of clients who now owed them back debt.He had already been to the administrators to ask what the actual problem was. Were they doing 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. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. They could not 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. They had just gone home.To Peter Burke the situation looked desperate. He had employees to pay, goods to ship, trucks to maintain and overhead that was almost unbearable when compared against the lack of funds that were coming in. In the evenings he would discuss his concerns with his wife, Christine, and still find no relief from the worry and frustration.

 

""Lin, I have a really bad feeling,"" he would say with deep woe.""What could you do differently?"" she would say.Peter 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 on the road, delivering good to all his loyal customers. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. What on earth was happening to create the death of his business?""I think I know what it could be,"" Peter said. ""I've relied too long on the profits I receive from invoices alone. I've let too many of our customers go too long without paying on their bills."" Christine 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'.""Peter knew his wife meant well, but he knew that he was responsible for too many people to sit idly by, waiting for the sun to peak over the clouds.The next day Peter strolled into his office and was determined to sit down and make every phone call to every client who had owed Roberts money. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. Wasting money, wasting time - even with the best of intentions, Peter knew that he was in trouble.

 

Poor Peter 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 Peter?"" she queried, standing in the doorway.

 

""Sure thing Sonia, come on in."" Peter relaxed back into his chair and looked up at Soniaerley.""Well Peter, this afternoon I did some research, trying to work out how we are going to get out of this mess."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard of factoring?"" she asked.""It sounds vaguely familiar. What is factoring""? he asked.She began, ""Well, it is really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Peter interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""In a nutshell, it is pretty easy. We can have an expert account manager review our numbers and help us complete a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.""Peter replied cautiously ""I see - and what happens then?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

This company tells us what the cost will be to purchase factoring for our accounts receivable. The funding commences once we�ve arrived at an agreement.�Leaning forward, Peter studied the documents very closely.""I do not know, Sonia - it just sounds too good to be true"", Peter said quietly.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Peter: 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, Peter,"" 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. Apparently they can figure this all out in two to four days.

 

""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,"" Peter said.Peter took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Precisely�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Peter thought about this and agreed with Soniaerley. The clients who owed them money were long standing friends and professional resources of Roberts. Peter 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 could create a disaster situation for both of them if he wasn't careful in how these debtors were handled. He did not want to lose business but he also did not want to lose any more money.""Let me go over this tonight Sonia, and thankyou."" Sonia nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Peter keep the shirt on his back, and possibly hers too.Peter sat behind his desk and looked over the details Sonia had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Roberts Truck & Haul with? Running his pencil down the sheet, he noted that the freight factoring company could assist with fuel costs, fuel advances, and fuel discount cards. Peter was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Peter was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""I must tell Ralph the good news,"" muttered Peter to himself.Peter's son-in-law, Ralph, loved the idea behind Roberts and highly respected his father-in-law for having such great business sense, that two years ago he got his capital together and started his own transportation company. Peter knew then what struggles Ralph would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Roberts was struggling then the little guys, like Ralph, were going to be in even more trouble.

 

But, an antidote may have been found in freight factoring and Peter was soon to find out.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Peter was beginning to find his way out of the hole his debtors had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They used that time to refocus their efforts in being competitive in new territories. Peter recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

"

Encompassing $304 billion, the Atlanta metropolitan area is the eighth-largest economy in the country and 17th-largest in the world. Corporate operations comprise a large portion of the Atlanta's economy, with the city serving as the regional, national, or global headquarters for many corporations. Atlanta contains the country's third largest concentration of Fortune 500 companies, and the city is the global headquarters of corporations such as Over 75 percent of Fortune 1000 companies conduct business operations in the Atlanta metropolitan area, and the region hosts offices of about 1,250 multinational corporations. Many corporations are drawn to Atlanta on account of the city's educated workforce; as of 2010, nearly 43% of adults in the city of Atlanta have college degrees, compared to 27% in the nation as a whole. world headquartersAtlanta began as a railroad town and logistics has remained a major component of the city's economy to this day. Atlanta is an important rail junction and contains major classification yards for . Since its construction in the 1950s, Hartsfield-Jackson Atlanta International Airport has served as a key engine of Atlanta's economic growth. Delta Air Lines, the city's largest employer and the metro area's third largest, operates the world's largest airline hub at Hartsfield-Jackson Atlanta International Airport and has helped make Hartsfield-Jackson the world's busiest airport, both in terms of passenger traffic and aircraft operations. Partly due to the airport, Atlanta has become a hub for diplomatic missions; as of 2012, the city contains 25 general consulates, the seventh-highest concentration of diplomatic missions in the United States.Media is also an important aspect of Atlanta's economy. The city is a major cable television programming center. the country's third-largest cable television service and the publisher of over a dozen major American newspapers, is headquartered in the city. T. Indeed, Atlanta has been nicknamed the Silicon peach due to its burgeoning technology sector. As of 2013, Atlanta contains the fourth-largest concentration of information technology jobs in the United States, numbering 85,000. Atlanta also ranks as the sixth-fastest growing city for information technology jobs, with an employment growth of 4.8% in 2012 and a three-year growth near 9%, or 16,000 jobs. Information technology companies are drawn to Atlanta's lower costs and educated workforce.Largely due to a state-wide tax incentive enacted in 2005, the Georgia Entertainment Industry Investment Act, which awards qualified productions a transferable income tax credit of 20% of all in-state costs for film and television investments of $500,000 or more, Atlanta has become a center for film and television production. Film and television production facilities in Film and television production injected $1 billion into Georgia's economy in 2010, with Atlanta garnering most of the projects. Atlanta has gained recognition as a center of production of horror and zombie-related productions, with Atlanta magazine dubbing the city the ""Zombie Capital of the World"". newsroomCompared to its peer cities, Atlanta's economy has been disproportionately affected by the 2008 financial crisis and the subsequent recession. The city's economic problems are displayed in its elevated unemployment rate, declining real income levels, and depressed housing market. From 2010-2011, Atlanta saw a 0.9% contraction in employment and a meager 0.4% rise in income. As of 2012, the unemployment rate in Atlanta was over 9%, higher than the national average of 8.2%. These dismal statistics have garnered Atlanta recognition as one of the world's worst economic performers, with the city's economy earning a ranking of 189 among 200 global cities, down from a ranking of 89 during the 1990s, when the city realized 1.6% income growth and 2.6% employment growth. However, even when the 2008-2009 period is excluded, the 2001-2007 period is still one of the worst on record for Atlanta: the city never recovered the jobs it lost during the Early 2000s recession, and per capita income declined nearly 5% from 2000 to 2006, the largest decline among major U.S. cities. Thus, Atlanta's current economic crisis was only worsened, and not caused, by the Recession. Adding to the city's employment and income woes is the spectacular collapse of its housing market. Atlanta home prices fell by 2.1% in January 2012, reaching levels not seen since 1996, a decline that measured among the worst in the country. Compared with a year earlier, the average home price in Atlanta fell 17.3% in February 2012, the largest annual drop in the history of the index for any city. Atlanta home values average $85,000 as of January 2012, second-worst among major metropolitan areas, coming in just behind Detroit. This unprecedented collapse in home prices has led some economists to deem Atlanta the worst housing market in the country. Nevertheless, in August 2013, Atlanta appeared on magazine's list of the Best Places for Business and Careers

 

"

 

More Trucking Factoring Companies Story Articles

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

 

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

 

To move Dixon 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, Dixon 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. Randall chuckled, thinking about his father. 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). 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.

 

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

 

He wondered about factoring - was this the answer for him? 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. 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 this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Now it was time for Randall to do his homework. Randall 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. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

However, it all turned out to be very simple. 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 was quite happy to sign an exclusive contract. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It was good money.

 

It was really refreshing dealing with the factoring people. They were more personable than those loan managers at the bank. 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. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Randall because he and his father had created a very strong and loyal list of clientele over the years. So he knew they would understand when the factoring company contacted them for the invoices. His clients wouldn�t think poorly of Dixon 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.

 

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

 

 

 

 

 

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Trucking Factoring  Articles

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�So, this is not a loan?� asked Dwight James, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she said.Dwight James owned a small trucking company, and his business had recently fallen on difficult times. Trucking could be a profitable business, and for a little under a decade, it had been for Brett. He named his business Crawford Trucking, named after Donald and Shane, his two grandfathers. They had both been hardworking men, and had done a lot to make Dwight the same.Disaster had struck half a year ago, when two trucks in Brett�s fifteen truck fleet went down. One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. The financial security of Brett's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Dwight had on hand.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. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Dwight was an excellent business man, and he certainly hadn't done anything wrong. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.That�s where the woman across the desk came in. Dwight knew she was employed by a Factoring company and that her name was Joy. 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. This is a win-win situation: we are protected from a total loss, and you're protected from the ridiculous fees and charges you'd have to pay if you borrowed from a bank.Dwight agreed. It sounded good to him, almost too good.Joy laughed. �You look like you don�t believe me,� she said.�No, I do, I just think it sounds a bit too good to be true. I thought I was going to lose my company.�Joy smiled, agreeing. �Yes, we get a lot of that. There's no way we want to see you lose your business. You work hard, you�ve put everything you can into it. Sometimes you need help. That's why we do what we do.""In any case, thank you for coming to see me.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� said Joy with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Dwight filled the form out, with Joy available to help him if he needed it. The profile filled Joy and her company in on Brett�s company, and would help them determine if he was suitable for factoring. In truth, not all companies were. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. Listening as Dwight filled out his form, Joy was pretty sure he was a perfect candidate for factoring.When the form was done Joy took it and slid it into her briefcase. She then stood, reached across the desk and shook Brett�s hand. He stood before they shook as well, and then smiled. They said their goodbyes and Dwight walked her to the door, and then returned to his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He shut his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. Talking to Joy 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 sudden panic attacks, not matter where he was. He could feel it all fading away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.His mind wandered back to the very beginning, when he first started his business. At twenty-two and straight out of school he had opened a restaurant. It had been successful. Home cooking in his hometown, and he had done very well.But it wasn't what he really wanted to do. He wasn't passionate about the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took six months off, and during that time he decided to create Crawford Trucking. So he did it. For the second time in his short life he created a company from the ground up. He had been successful.And then the trucks went down, and his success looked to be in flux. He was nearing fifty. He didn�t think he had it in him, to save this company. But giving up wasn't part of his personality either.

 

The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He did not want to quit - both for himself and for his staff members.And now, because of factoring, he was sure he wouldn�t have to. Brett's eyes opened, he sat forward in his chair and turned on his computer. He had things to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

Why Trucking Establishments Utilize Factoring Companies.

 

As the owner of your own business, you may likely be more than mindful already of the hardship in making certain that cash flow matters do not become a problem down the line. Anyway, the most terrible thing that can potentially come about for your establishment is to find yourself embroiled in a long and difficult predicament that leaves you forever searching for the money you really need on an on-going basis.

 

For any type of firm in this case, the issue can come for waiting for work to clear up and actually be settled into your statement. Bill of sales, checks, and the like could take a while to actually to be taken care of which can easily leave you with temporary capital problems. Luckily, there are options out there for companies to delve into-- and one of these is factoring agencies.

 

Factoring agencies will, in trade for your bill of sales, provide you with the resources right away in order that you do not need to fret about the waiting time frame that could make paying the expenses and purchasing materialsmore difficult. With this type of system, invoice factoring can end up being exceptionally beneficial for numerous establishments who need to avoid a money lure which they have found themselves in.

 

Given that, depending on the size of the work, it can take up to 60 days for some firms to get paid then it is crucial to take care of your own back and not leave yourself money short to pay the expenses. After all, how many companies have two months income just lying there to cover all their bills until they get paid?

 

This is specifically correct of trucking agencies. They generally manage numbers of invoices which means a notable volume of collection time involves business owner themselves. Striving to get paid off promptly can come to be an extraordinary trouble and this is the key reasons why you make use of trucking factoring firms who are glad to help out truckers exclusively.

 

As we all recognize, trucking is an surprisingly big industry with plenty of firms out there working with hundreds of drivers. However, several of these drivers end up in cash difficulties because they are still waiting on work from six weeks previously to actually compensate them. When this is the scenario for a trucking business, choosing factoring providers for support might be the finest choice left.

 

This indicates that a trucking company can pay out the salaries of the people, keep all the cars refilled with fuel and continue to surmount, develop and expand without consistently waiting for the funds which is taking too prolonged to come in. Trucking Business enterprises running without a factoring program implemented are leaving themselves at substantial threat, as competitions cash out fast and go on to expand.

 

There's genuinely not a thing to be distressed about when it comes to working with a Factoring establishment-- they typically are not like a banking company or an individual who is going to leave you with a significant mound of personal debt to pay back. You give them authentic invoices from job you have already completed , you are only facilitating the repayment system.

 

In the Usa, where trucking companies succeed, factoring agencies are not considered getting a loan in any capacity. This confidential contract then lets both parties to profit and indulge in a worry-free future-- it provides the factoring business a warranted asset of earnings to add to the list and it supplies the trucking business the needed money that they worked hard to earn.

 

The trucking business presents their statements to the factoring establishment. The trucking factoring agency then obtain the payment amounts from the trucking company's clients. Factoring has beenaround for centuries and has been employed for long times by many various business-- but none exceeding so than truckers. While you might lose out on a small part of the money, something like 1-3 % depending on who you partner with, it indicates that you are getting the funds today and can actually begin putting the money to do work.

 

After all, an IOU or an invoice is definitely not going to pay for overheads, is it? For trucking firms when the finances can be very good one day and gone the next, it is up to the drivers to work smartly and to make certain they are leaving themselves with a significant quantity of time and finance to get through the week up until they are compensated again.

 

So the next instance your trucking establishment is enduring some temporary capital troubles and you are shelling out too much time chasing sluggish paying customers, why not begin looking at making use of a factoring companies as a manner to get your finances and give yourself a more worry-free future in the eyes of your trucking staff and your bank difference?

 

 

 

 

 

 

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Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. While these loans are handy they are not available to every business. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. 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 offer loans, and you do not go into debt when you get money from a Trucking Factoring company. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to sell. Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

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

 

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

 

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

 

2. 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. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This means that it is easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.

 

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

 

As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

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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