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New Factoring Program Leaves Your Company Rolling in Profits - Our Receivable Factoring Company Can Give Your Truck Company The Money You Want


at medicalaccountsreceivable.org

and Lubbock-Invoice-Factoring-Companies.medicalaccountsreceivable.org.

freight factoring companies california truck factoring calculator factoring services for trucking companies trucking invoice factoring

 

Truck Factoring is beneficial for several reasons. It allows a trucking business to raise money without obtaining new financial obligation. While financial obligation is in some cases essential, most truck businesses would like to raise cash without borrowing money. Financial obligation is dangerous, and when it can not be paid back, assets can be repossessed. If the debt is huge enough, it might even require a freight broker firm out of business.

 

Cash For Companies. Tell Us What You Want - Choose An Accounts Receivable Factoring Company Instead Of A Typical Bank Funding

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

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

Cash flow does not have to be a problem any more. Do not be fooled -- banks are not the only places you can get financing. Other solutions are available and you do not have to borrow money. Exactly what is truck factoring ? One solution is called truck factoring. Trucking Factoring is the process of offering accounts receivable to an investor instead of waiting to gather the cash from the client. Oh, the Irony- Trucking factoring has a paradoxical difference: It is the monetary foundation of many of America's most effective companies. Why is this paradoxical ? Since receivable financing is not instructed in business colleges, is seldom mentioned in company plans and is fairly unknown to the majority of most of American company individuals.

Yet it is a monetary procedure that frees billions of dollars every year, allowing thousands of businesses to grow and prosper. Factoring has been around for countless years. Factoring Companies are financiers who pay money for the right to get the future payments on your invoices. An overdue receivable or invoice has value. It is a financial obligation your client has agreed pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business transactions, a large percentage of the retail company uses a factoring principal. MasterCard, Visa, and American Express all utilize a type of factoring in their retail deals. Using the purest meaning of the word, these big customer finance business are truly just big Truck Factoring Businesses of customer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The store makes money almost immediately, although you do not make payment up until you are prepared.

For this service, the credit card business charges Sears a charge (typical common normal charges vary from two to four percent of the sale). The Advantages Accounts Receivable Factoring can offer many advantages to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on an item that has actually already been provided, a business 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 company needs that can be met with instant  money.

Truck Factoring offers the ways for a manufacturer to renew inventory and make even more products to offer: There is no longer a requirement to wait for earlier sales to be paid. Receivable Loan Financing is not just a money management tool for manufacturers: Practically any kind business can benefit from Staffing Factoring. Generally, a company that extends credit will have 10 to 20 percent of its annual sales tied up in invoices at any given time. Think for a moment about how much is tied up in 60 days' worth of invoices: You can not pay the power expense or this week s payroll with a customer s invoice, but you can offer that invoice for the cash to meet those responsibilities. Using truck factoring companies is a quick and simple procedure. The factoring company buys the invoice at a discount, typically a couple of percentage points less than the face value of the invoice.

 

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The U.s. Trucking Organization mentions that there are about 195,000  truck drivers with freight trucking businesses and 276,000 personal companies trucking firms accredited to operate in the U.S. that  transferred, according to their latest searchings for billions of  items, supplies and fundamental products . There are several  usual providers either going solo or in groups on our nation roads transporting these vital items to our stores, manufacturingplants and ports.

Also freight bill factoring businesses support many of them and offer their accounts receivablesfinancing facilities countrywide comprising 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

lubbock-invoice-factoring-companies

 

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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:

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

 

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.

 

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

 

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

 

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

 

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

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

 

 

 

 

 

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Lubbock is a city in and the county seat of Lubbock County, Texas, United States.[6] The city is located in the northwestern part of the state, a region known historically and geographically as the Llano Estacado and ecologically is part of the southern end of the Western High Plains. The city is home to three universities: Lubbock Christian University, Texas Tech University, and Texas Tech University Health Sciences Center. According to a 2013 Census estimate, Lubbock had a population of 239,538,[1] making it the 84th most populous city in the United States of America and the 11th most populous city in the state of Texas.[7][8] The city is the economic center of the Lubbock metropolitan area, which had an estimated 2013 population of 301,038.[2]Lubbock's nickname is the ""Hub City"", which derives from it being the economic, education, and health care hub of a multicounty region, north of the Permian Basin and south of the Texas Panhandle, commonly called the South Plains.[9] The area is the largest contiguous cotton-growing region in the world[10][11] and is heavily dependent on irrigation water drawn from the Ogallala Aquifer. Lubbock was selected as the 12th best place to start a small business by CNNMoney.com.[12] CNN mentioned the city's traditional business atmosphere, low rent for commercial space, its central location and cooperative city government. Lubbock High School has been recognized for three consecutive years by Newsweek as one of the top high schools in the United States. Lubbock High School is home to the only international baccalaureate (IB) program in the region. The IB program is one of the criteria examined by Newsweek in formulating their list of top high schoolsThe Lubbock area is the largest contiguous cotton-growing region in the world and is heavily dependent on federal government agricultural subsidies and irrigation water drawn from the Ogallala Aquifer. However, the aquifer is being depleted at an unsustainable rate in the long term. Much progress has been made in the area of water conservation, and new technologies, such as low-energy precision application (LEPA) irrigation were originally developed in the Lubbock area. The new pipeline from Lake Alan Henry is expected to supply up to 3.2 billion US gallons (12,000,000 m3) of water per year.[39] Cone grain elevator, north side of LubbockAdolph R. Hanslik, who died in 2007 at the age of 90, was called the ""dean"" of the Lubbock cotton industry, having worked for years to promote the export trade. Hanslik was also the largest contributor (through 2006) to the Texas Tech University Medical Center.[40] He also endowed the Texas Czech Heritage and Cultural Center's capital campaign for construction of a new library museum archives building in La Grange in Fayette County in his native southeastern Texas.[41]The 10 largest employers in terms of the number of employees are: Texas Tech University, Covenant Health System, Lubbock Independent School District, University Medical Center, United Supermarkets, City of Lubbock, Texas Tech University Health Sciences Center, AT&T, Convergys, and Lubbock County. A study conducted by a professor at the Rawls College of Business determined that Texas Tech students, faculty and staff generate about $1.5 billion, with about $297.5 million from student shopping alone.[42]Lubbock has one regional enclosed mall, South Plains Mall, which includes two Dillard's, JC Penney, Barnes & Noble, Sears, Bealls, Premiere Cinemas 16 & IMAX theatre and many other stores.Lubbock also has numerous open-air shopping centers, most located in the booming southwestern area of Lubbock. The Village and Kingsgate Shopping Centers, both located at the intersection of 82nd Street and Quaker Avenue, offer a unique blend of local and national retailers. The Village is home to Starbucks Coffee, Drest by Scott Malouf, Subway, Ann Lilly Fine Shoes, RenDr Custom Framing and Red Mango, among others. Kingsgate Shopping Center includes numerous upscale shops and restaurants, such as Malouf's, Cake by Distinctive Details, Pei Wei Asian Diner, McAlister's Deli, Marble Slab Creamery, Banana Republic, Coldwater Creek, Woodhouse Day Spa, Chico's, Talbots and Ann Taylor. Lubbock is also home to high-end furniture retailers, such as Spears Furniture, which has been in Lubbock since 1950.Lubbock's newest open-air shopping center, Canyon West, features a Target, DSW, Ulta, Burlington Coat Factory, World Market, Five Guys and LifeWay. Two more stages of development are planned. It is located at the intersection of Milwaukee Avenue and Marsha Sharp Freeway.

 

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Harper Truck & Haul have been operating their business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the boom times from 2002 to 2007 Harper Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. The money was flowing, and times were great.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 Harper 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. And as spring turmed to summer and summer into the early days of fall, Vernon Johnson, CEO of Harper felt a chill go down his spine whenever he would look at the weekly A/R reports. The numbers of clients who owed him back debt were growing.He had 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 Harper 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. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Harper hadn't gone elsewhere. They had just gone home.This current state-of-affairs was causing Vernon Johnson to have some very restless nights. There were goods to ship, employees to pay, trucks to repair and maintain, and continuous overheads that were very extensive when compared to the funds (or lack of) that were incoming. In the evenings he would discuss his concerns with his wife, Roberta, and still find no relief from the worry and frustration.

 

""I have a bad feeling, Lin,"" he'd sadly say to his wife.""What could you do differently?"" she would ask.Vernon would stare off for a moment and then close eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them traveling, bringing goods to all of his clients. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. Why couldn�t he work out how to resolve this financial problem with his business?""I think I know what it could be,"" said Vernon. ""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."" All Roberta could do was hold his hand and look at him tenderly. 'We know it's a difficult economy at the moment - perhaps it will take a while for people to get on top of their bills'.""Vernon knew very well that Roberta 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 following day Vernon walked into his office with a spring in his step, determined to call each and every client who owed money to Harper Truck & Haul. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. Wasting money, wasting time - even with the best of intentions, Vernon 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 Eileenerley knocked at his door.

 

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

 

""Sure thing Eileen, come on in."" Vernon relaxed back into his chair and looked up at Eileenerley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Vernon."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard of factoring?"" Eileenerley 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.""Vernon interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""In a nutshell, it's pretty easy. We can have an expert account manager review our numbers and help us complete 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.��I see,� Vernon said. �And then what?��Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

This company tells us what the cost will be to purchase factoring for our accounts receivable. We come to an agreement and the funding starts pouring out.�Vernon leaned forward and reviewed the paperwork closely.""I don't know, Eileen - it just sounds too good to be true"", Vernon said quietly.""Now, now, I know, I thought the same thing. But think about it, Vernon: 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, Vernon,"" she underlined a paragraph on the paper before him.""Just how flexible?"" he asked.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. It only takes 2 to 4 days for this to be figured out. """"It does all sound pretty good, remembering that we're all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. 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,"" Vernon said.Vernon took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. I think this might just be a way out of the trouble we're in with these folks who owe us money.""Vernon took a moment to think about this solution, and agreed with his secretary. The clients who owed them money were long standing friends and professional resources of Harper. Just because they were experiencing difficulties paying their own bills now, Vernon was very concerned about losing these relationships. 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. Of course he didn't want to lose any more money, but he didn't want to lose business either.""Well, let me think about this tonight Eileen, thank you."" Eileen nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Vernon keep the shirt on his back, and possibly hers too.Vernon stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. What other issues could freight factoring help Harper 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. Vernon was surprised: it said that his company could get up to fifty percent cash advances on load pickups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""I must tell Tommy the good news,"" muttered Vernon to himself.Tommy is Vernon's son-in-law, and he really admired the ideas behind Harper, so much so that only two years before he had started his own transportation service business. At that time Vernon knew the struggles Tommy would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Harper was hurting, a little guy like Tommy was about to catch his death. But, maybe the answer for both of them was in freight factoring, and Vernon was going to find out very soon.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Vernon was beginning to find his way out of the hole his debtors had created for him.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They took that time and refocused effort to offering competitive prices in new territories. Vernon looked back on the dismal months of life before freight factoring and almost shuddered at the thought. Had he missed the boat on this one, he probably wouldn't be in business today.

 

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The Future of a Trucking Company, and Factoring Kenneth Thompson 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. Thompson 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.

 

Kenneth�s father had started as an owner-operator and had grown Thompson 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 Kenneth'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 Kenneth�s hands and he wanted to live to see it in better shape for his sons.

 

To move Thompson Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. His employees needed to be paid. They had families and household bills too. 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, Thompson Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Kenneth 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?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. His father days were long gone and technology was actually an important improvement for the business such as having Qualcomm to cut down on fruitless time communicating on the phone for bills of lading.

 

Kenneth believed a successful man is always thinking of his next step. How would he take Thompson 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. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

But was factoring the answer? If he was being honest, he didn't really understand how it all worked. 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. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Kenneth had to really consider what his next step was going to be. Kenneth had heard that there were companies that charged for same day money transfers and would only advance a percentage of the money owed to your company while holding the rest in a private account if they didn�t get their bill payment within 60 or so days. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

However, it all turned out to be very simple. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. 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. 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. He was more than happy with the figures he was offered in percentage terms on the freight bills. It sounded like a great scheme to him.

 

It was really refreshing dealing with the factoring people. They were more personable than those loan managers at the bank. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies didn�t worry over his credit and the debt troubles his father had had in the past of the company. Factoring was based on the credit of his customers and on their reliability which worked well for Kenneth because he and his father had built up good strong relationships over decades with their list of clients. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients wouldn�t think poorly of Thompson 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.

 

Kenneth stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. He suddenly realized that, with this new cash flow, he could actually expand Thompson 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

�So, this is not a loan?� Lloyd Peterson asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Lloyd smiled at him, shaking her head.�Not quite,� she said.Lloyd was the owner of a small trucking company which had fallen on some hard times recently. Trucking could be a profitable business, and for a little under a decade, it had been for Walter. His company was called Russell Trucking, named after both of his grandfathers, Theodore and Scott. They had both been hardworking men, and had done a lot to make Lloyd the same.Six months ago disaster struck Walter's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. Lloyd 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 Lloyd had on hand.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

You could go a month or more before bills were completely paid off. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Lloyd 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. Lloyd knew she was employed by a Factoring company and that her name was Sara. 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.Sara explained. �It�s not a loan, we purchase your accounts receivable. We're not giving you finance to be repaid later: we're purchasing something from you, and when you can you can buy it back. This is a win-win situation: we're 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.Lloyd agreed. It sounded perfect - perhaps too good?.The woman laughed. �You look like you don�t believe me,� she chuckled.�No, I do, I just think it sounds a bit too good to be true. I thought I was going to lose my company.�Sara nodded. �Yes, we get a lot of that. There's no way we want to see you lose your business. We know how hard you work, and that you've invested everything in your business. We all need help sometimes. That�s 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,� said Sara with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Lloyd filled the form out, with Sara available to help him if he needed it. The profile filled Sara and her company in on Walter�s company, and would help them determine if he was suitable for factoring. In truth, not all companies were. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. As Lloyd completed his form, Sara listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Sara took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Walter�s hand. He stood before they shook as well, and then smiled. Lloyd walked Sara to the door where they said 'Goodbye', then he went back into his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He leaned back and closed his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. Talking to Sara 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 sudden panic attacks, not matter where he was. Already he could feel all the stress start to drain away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was there, he was on the right path, and he was working to make things right.His mind wandered back to the very beginning, when he first started his business. He had opened a restaurant at age twenty two when he was fresh out of school. 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. 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 six months off, and during that time he decided to create Russell Trucking. So he did it. Once again he built a company from the ground up. The business had been an instant success.And then the trucks went down, and his success looked to be in flux. He was about to turn fifty. He was concerned that he just didn't have the energy left to try and save the business. But he couldn�t give up. Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He didn't want to quit - both for himself and for his staff members.And now, because of factoring, he was sure he wouldn�t have to. Lloyd 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.

 

 

 

More Trucking Factoring Company Story Articles

The reason why Trucking Establishments Work with Factoring Firms.

 

As the operator of your own business enterprise, you may likely be more than perceptive already of the hardship in making certain that capital matters do not become a dilemma down the line. Anyway, the toughest thing that can in all probability take place for your business is to find yourself dragged in a long and problematic situation that leaves you forever looking for the funds you need on an continuing manner.

 

For pretty much any enterprise in this predicament, the complication can come for waiting for work to clear up and actually be brought in into your bank account. Statements, checks, and the like can take some time to actually to beprocessed which can certainly leave you with short-term cash flow issues. Gratefully, there are opportunities out there for companies to explore-- and just one of these is factoring providers.

 

Factoring firms will, in substitution for your bill of sales, supply you with the funds now to ensure you don't have to stress over the lingering phase which could make paying off the expenses and obtaining materialsmore challenging. With this kind of arrangement, invoice factoring can become extremely useful for many enterprises who ought to avoid a cash pitfall which they have discovered themselves in.

 

Considering that, basing on the volume of the work, it can take up to 60 days for several establishments to get paid out then it's necessary to cover your own back and not leave yourself money short to pay off the monthly bills. After all, how many businesses possess two months profits just occupying there to handle all their expenditures until they get paid?

 

This is primarily true of trucking establishments. They usually take care of lots of statements which means a significant amount of collection period entails company owner themselves. Attempting to get paid in time can become an extraordinary hassle and this is why you utilize truck factoring companies who are thrilled to help out truckers primarily.

 

As we all realize, trucking is an incredibly huge business with many organizations out there hiring hundreds of drivers. Regrettably, numerous of these drivers end up in income difficulties simply because they are still anticipating work from six weeks in the past to actually compensate them. When this is the scenario for a trucking organization, depending on factoring providers for aid maybe the most recommended option left.

 

This signifies that a truck company can pay off the paychecks of the workers, keep all the trucks filled with fuel and continue to scale, evolve and expand without constantly waiting for the funds which is taking too prolonged to come in. Trucking Firms functioning without a factoring system established are leaving themselves at critical threat, as contenders cash out fast and carry on to grow.

 

There's honestly nothing at all to be distressed about when it comes to employing a Factoring business-- they usually are not like a banking company or someone who is going to leave you with a significant mound of liability to repay. You give them legitimate invoices from job you have already finished , you are just facilitating the payment system.

 

In the United states of America, where truck enterprises thrive, factoring firms are not considered taking on loan in any capacity. This private agreement then lets both groups to make money and experience a comfortable future-- it provides the factoring firm a secured asset of income to include in the list and it furnishes the trucking business the needed funds that they sweated to obtain.

 

The trucking establishment gives their invoices to the factoring establishment. The trucking factoring agency then obtain the payments from the trucking company's clients. Factoring has been all around for hundreds of years and has been used for several years by plenty of different fields-- 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 signifies that you are getting the cash today and can actually start setting the money to work.

 

After all, an IOU or an invoice is absolutely not going to fund bills, is it? For trucking firms when the funds can be excellent one day and gone the next, it's up to the drivers to work prudently and to make sure they are leaving themselves with a considerable measure of time and money to get through the week until they are paid once again.

 

So the next moment your trucking enterprise is enduring some short-term cash flow challenges and you are putting in an excessive amount of time chasing slow paying clienteles, why not begin looking into making use of a factoring companies as a manner to get your cash and give yourself a more worry-free future in the eyes of your trucking staff and your bank dividend?

 

 

 

 

 

 

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Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. These loans can be a life-saver, but they're not always available to every business. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Once the loan is paid off, you can then apply for another loan if the need arises.

 

Trucking Factoring Companies

 

Trucking Factoring companies don't offer loans, and you don't go into debt when you get money from a Trucking Factoring company. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. 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 finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared 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

 

Not every business can benefit from Trucking Factoring account financing because you have to have a business with accounts receivable, however there are many benefits for those who can access this type of finance.

 

1. There is no 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. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. There's no collateral required. Another great benefit of using the services of a Trucking Factoring company instead of a bank loan is that there is no collateral required for the Trucking Factoring company, because the Trucking Factoring company is 'buying' your accounts receivables. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This means that it's 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. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.

 

4.You receive interest up-front. With a bank loan interest continues to build, and this has to be paid the whole time you have a business loan; however with a Trucking Factoring company there is no interest - they take it right off the top by deducting it from the total amount of receivable accounts. So you don't have to worry about monthly loan repayments, and you don't have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

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. The Trucking Factoring company takes over that chore, since it is now their money to collect. 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
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San Antonio
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Austin
Jacksonville
Indianapolis
San Francisco
Columbus
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Charlotte
Detroit
El Paso
Memphis

Boston
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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