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Don't Even Think About Going To The Bank Without Reading This Report - Our Freight Invoice Factoring Companies Can Provide
Your Truck Company The Money You Want

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Truck Factoring is helpful for several factors. It allows a truck company to raise cash without getting brand-new financial obligation. While financial obligation is sometimes needed, most freight brokerage would choose to raise cash without borrowing money. Debt is risky, and when it cannot be paid back, assets can be repossessed. If the debt is large enough, it could even force a truck companies out of business.

 

 

 

 

 

 

 

Will You Help me Get Money? - Choose A Trucking�Factoring Company  Instead Of A Regular Bank Financing

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

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

Money flow does not have to be a problem any ever more. Do not be fooled -- banks are not the only locations you can get financing. Other solutions are offered and you do not have to borrow. What is truck factoring ? One option is called trucking factoring. Trucking Factoring is the process of offering invoices to an investor rather than waiting to collect the money from the client. Oh, the Irony- Truck factoring has a paradoxical distinction: It is the monetary backbone of numerous of America's most successful businesses. Why is this paradoxical ? Since truck factoring is not instructed in business colleges, is rarely discussed in company strategies and is fairly unidentified to bulk of most of American business people.

Yet it is a financial procedure that frees billions of dollars every year, enabling thousands of companies to grow and succeed. Receivable Funding has actually been around for countless years. Truck Factoring Companies are investors who pay cash for the right to receive the future payments on your invoices. An overdue receivable or invoice has value. It is a financial obligation your customer has actually to pay in the near future. Factoring Principals--Although factoring offers solely with business-to-business deals, a big portion of the retail company uses a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail transactions. Utilizing the purest meaning of the word, these big customer finance companies are really simply large Staffing Factoring Businesses of customer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The shop makes money practically immediately, although you do not pay up until you are ready.

For this service, the credit card company charges Sears a charge (typical common normal fees vary from two to 4 percent of the sale). The Advantages Invoice Factoring can offer numerous advantages to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on an item that has currently been provided, a company can factor (sell) its receivables for cash at a little price cut off the dollar value of the invoice. Payroll, marketing efforts, and working capital are just a few of the business requirements that can be met with instant  cash.

Receivable Funding offers the means for a manufacturer to replenish stock and make even more products to sell: There is no longer a requirement to wait for earlier sales to be paid. FACTORING is not simply a cash management device for producers: Almost any type company can benefit from Trucking Factoring. Typically, a company that extends credit will have 10 to 20 percent of its yearly sales bound in accounts receivable at any given time. Think for a moment about how much is tied up in 60 days' worth of invoices: You can not pay the power bill or today s payroll with a customer s invoice, however you can sell that invoice for the money to satisfy those obligations. Using truck factoring companies is a fast and easy process. 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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virginia-beach-factoring-companies

 

The American Truck Association
states that there are about
195,000 employees with transportation
companies and
300,000 personal providers trucking
companies certified to
run in America that transported,
according to their latest listings of millions of
items, supplies and
fundamental materials .
There are several usual
providers either going solo or in
groups on our nation
roads carrying these
important items to our
stores, manufacturing facilities and harbors.

Plus freight invoice factoring
firms aid
several of them and offer their
receivable loan facilities
countrywideincluding
including the following states.

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

 

 

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Virginia Beach is best known for its tourism but the military and agribusiness sectors contribute to the City's economy. The City's economy also contains a large retail component at places such as Lynnhaven Mall. Major companies headquartered in Virginia Beach Virginia Beach was ranked at number 45 on list of best places for business and careers.Tourism produces a large share of Virginia Beach's economy. With an estimated $857 million spent in tourism related industries, 14,900 jobs cater to 2.75 million visitors. City coffers benefit as visitors provide $73 million in revenue. Virginia Beach opened a Convention Center in 2005 which caters to large group meetings and events. Hotels not only line the Oceanfront but also cluster around Virginia Beach Town Center and other parts of the City. Restaurants and entertainment industries also directly benefit from Virginia Beach's tourism.Ecotourism has a large portion of the tourism market in Virginia Beach. There are many eco-adventures companies which offer tours on the land and on the water. Coyotes, foxes and bobcats can be seen inland of Virginia Beach in False Cape State Park. There are tours available to see dolphins in their natural habitat.The Virginia Aquarium & Marine Science Center conducts tours of the coast for bird sightings as well as whales if the season is right. They offer school field trips and overnight adventures into the various surrounding regions with a focus on education. Lessons for surfing, stand up paddling and kayaking are popular in the area. In the summer these programs may even offer dolphin sighting tours.Virginia Beach has a large agribusiness sector which produces $80 million for the city economy. One hundred-seventy-two farms exist in Virginia Beach, mostly below the greenline in the southern portion of the City. Farmers are able to sell their goods and products at the City's Farmer's Market. A VF-41 F-4J over NAS Oceana in the late 1960sVirginia Beach is home to several United States Military bases. These include the United States Navy's NAS Oceana and Training Support Center Hampton Roads, and the Joint Expeditionary Base East located at Cape Henry. Additionally, NAB Little Creek is located mostly within the city of Virginia Beach but carries a Norfolk address.NAS Oceana is the largest employer in Virginia Beach; it was decreed by the 2005 BRAC Commission that NAS Oceana must close unless the city of Virginia Beach condemns houses in areas designated as ""Accident Potential Zones."" This action has never been the position of the United States Navy; indeed, the Navy had not recommended NAS Oceana to the BRAC Commission for potential closure. The issue of closure of NAS Oceana remains unresolved as of May, 2008 [dubious � discuss]Both NAS Oceana and Training Support Center Hampton Roads are considered to be the largest of their respective kind in the world. Furthermore, located in nearby Norfolk is the central hub of the United States Navy's Atlantic Fleet, Norfolk Navy Base.[4

 

"

 

 

 

Watch Our Trucking Factoring YouTube Videos For More Information

 

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

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

 

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.

 

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

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

 

Click below to find Trucking Companies in the United States:

Trucking Companies serving to/from points within the United States,
categorized by services offered. United States Trucking
Companies will be listed under all categories in which they provide specified Trucking Services.
To find companies offering specific Trucking Services in the United States, click on the list of services below.

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.

 

 

"

Powell Truck and Haul has been in business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the heady times from 2002 to 2007, Powell was a top rated accounts receivable mastermind of the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. The money was flowing, and times were great.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed to a crawl

 

. Worse still, it was noticed by Powell 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 Powell, Martin Gomez, 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 things different, or wrong, when it came to collecting overdue accounts? By his bookkeepers records, this wasn't 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. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Powell hadn't gone elsewhere. The had just gone!.The situation looked dire to Martin Gomez. Martin was very concerned, because there were constant overheads, goods to ship, employees to pay, and trucks which needed to be maintained, but there just wasn't the money coming back into the business. After work he would confide in his wife, Anne, and neither were unable to stop the constant worry over the lack of funds.""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would say.Martin 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 on the road, delivering good to all his loyal customers. 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 know what it is,"" said Martin. ""I've relied too long on the profits I receive from invoices alone. For too long I've been allowing our clients to let their accounts become overdue."" Anne 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'.""Anne was trying so hard to support her husband in these worrying times, while Martin was weighed down with the worry of how he was going to handle this situation he found himself in.The next day Martin strolled into his office and was determined to sit down and make every phone call to every client who had owed Powell 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, Martin 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 Lisaerley knocked at his door.

 

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

 

""Of course Lisa, please come in."" Martin leaned back in his chair and looked expectantly at Lisaerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Martin."" 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 it?"" he said.""Well,"" she began, ""It�s actually quite simple really.

 

Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Martin interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""In a nutshell, it is pretty easy. We start by having a professional account manager review our figures and help us set up a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It�s a broad view.""I see,� Martin 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. Once we arrive at a mutual agreement, the funding begins.�Martin leaned forward and reviewed the paperwork closely.""I do not know, Lisa - it just sounds too good to be true"", Martin said quietly.""Yes, I know; that's exactly what I thought at the beginning. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. And they're flexible Martin,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" asked Martin.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. Apparently they can figure this all out in two to four days.

 

""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" said Martin.Martin took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Martin took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Powell Truck & Haul were professional resources of the company, but they were also long-standing friends. Just because they were experiencing difficulties paying their own bills now, Martin was very concerned about losing these relationships. Martin knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. That unknown amount of time could create a disaster situation for both of them if he wasn't careful in how these debtors were handled. Of course he did not want to lose any more money, but he did not want to lose business either.""Well, let me think about this tonight Lisa, thank you."" Lisa nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Martin keep the shirt on his back, and possibly hers too.Martin stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. He wondered if there might be other problems freight factoring could help Powell Truck & Haul with? Running his pencil down the sheet, he noted that the freight factoring company could assist with fuel costs, fuel advances, and fuel discount cards. In fact, Powell could receive up to fifty-percent cash advances upon load pick-ups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""Well, I'll have to tell Eric about this,"" muttered Martin to himself.Eric is Martin's son-in-law, and he really admired the ideas behind Powell, so much so that only two years before he had started his own transportation service business. At that time Martin knew the struggles Eric would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Powell was struggling then the little guys, like Eric, were going to be in even more trouble.

 

But, an antidote may have been found in freight factoring and Martin 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 Martin 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 used that time to refocus their efforts in being competitive in new territories. Martin 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.

 

"

 

 

More Trucking Factoring Companies Story Articles

"

The Future of a Trucking Company, and Factoring Peter Roberts 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. Roberts 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.

 

More than forty years ago Peter's father had started this business working as an owner-operator and eventually growing Roberts Trucking Company into a fifteen trailer fleet. There had been some hard times when it seemed everything was going to go under and even Peter�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 Peter's hands and he needed to ensure that this business would be left in great shape for his sons.

 

There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. His employees needed to be paid. 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. He knew that turning down these requests made Roberts Trucking look inefficient and weak in what was currently a strong market.

 

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

 

Peter knew he was right in his forward thinking. How would he take Roberts Trucking to the next level? And how would he be able to afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

He wondered about factoring - was this the answer for him? If he was being honest, he did not really understand how it all worked. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. 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 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 Peter to do his homework. Peter 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! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge 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 didn�t mind signing 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. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. Many companies offered a non-recourse factoring program that suited him just fine. 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 Peter 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 Roberts 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.

 

Feeling happier now, Peter stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. 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 Roberts Trucking Company and who knows, move into Canada, which had always been his dream. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

"

 

 

 

 

 

 

 

Payroll Funding Companies

 

Money Factoring

 

 

 

Watch Our Trucking Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� asked Jacob Scott, 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.Jacob Scott owned a small trucking company, and his business had recently fallen on difficult times. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Leslie. His company was called Warren Trucking, named after both of his grandfathers, Terrence and Marc. They had both been hardworking men, and had done a lot to make Jacob the same.Six months ago disaster struck Leslie's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. The financial security of Leslie'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 Jacob had on hand.A big problem a lot of trucking companies came across was how bills were paid in the industry. You could go a month or more before bills were completely paid off. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Jacob was an excellent business man, and he certainly hadn't done anything wrong. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.That�s where the woman across the desk came in. Jacob knew she was employed by a Factoring company and that her name was Ellen. Jacob had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.She sat there now, and explained. �it is really not a loan at all: we actually buy your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. That way we�re protected from a complete loss, but you�re protected from the outrageous fees you would find in a loan from the bank.Jacob nodded. It sounded good to him, almost 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 actually thought I might end up losing my business.�Ellen smiled, agreeing. �Yes, we get a lot of that. Listen, I�d hate to see you lose your company. You work hard, you�ve put everything you can into it. Sometimes you need help. That�s what we�re here for.""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,� Ellen said with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Jacob completed the form, with Ellen offering advice as needed.

 

The completed profile gave Ellen and her company all the information they needed on Leslie's business, and with this information they would determine if this business would in fact be suitable for Factoring. Unfortunately, not all companies are. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. As Jacob completed his form, Ellen listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Ellen took it and slid it into her briefcase. She then stood, reached across the desk and shook Leslie�s hand. He stood before they shook as well, and then smiled. They said their goodbyes and Jacob walked her to the door, and then returned to his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He shut his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. Talking to Ellen 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 there, he was on the right path, and he was working to make things right.His mind wandered back to the very beginning, when he first started his business. At twenty-two and straight out of school he had opened a restaurant. It had been really successful. Home cooking in his hometown, and he had done very well.But he had gotten bored. His passion didn�t lie with the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took half a year off, and in that time he thought to start Warren Trucking. And that's exactly what he did. For the second time in his short life he created a company from the ground up. He had been successful.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was nearing fifty. He was concerned that he just did not have the energy left to try and save the business. But 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 know how to say quit.And now, because of factoring, he was sure he wouldn�t have to. Jacob opened his eyes, sat forward, turned his computer on. 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

Precisely why Trucking Companies Use Factoring Companies.

 

As the owner of your own firm, you may well be much more than conscious already of the challenge in making certain that cash flow issues do not become a difficulty down the line. After all, the most unfortunate thing that can potentially happen for your enterprise is to find yourself involved in a long and problematic situation that leaves you forever looking for the cash you require on an ongoing manner.

 

For any sort of firm in this condition, the trouble can come for waiting for work to lapse and actually be compensated into your statement. Invoices, checks, and the like could take some time to actually to be taken care of which could leave you with temporary cash flow problems. Gratefully, there are approaches out there for businesses to investigate-- and among these is factoring companies.

 

Factoring agencies will, in substitution for your accounts, supply you with the resources immediately so that you do not have to worry about the lingering period that could make paying the expenses and purchasing materialsmore complicated. With this type of system, invoice factoring can end up being tremendously practical for many enterprises who ought to avoid a cash ploy which they have gotten themselves in.

 

Considering that, relying on the size of the project, it can take up to 60 days for several firms to get compensated then it is crucial to cover up your own back and not leave yourself funds short to pay off the monthly bills. After all, how many business enterprises possess two months revenue just lying there to cover all their spendings till they earn?

 

This is most especially correct of truck companies. They often take care of numbers of statements which means a notable amount of collection time concerns business owner themselves. Striving to get paid out promptly can end up being an unbelievable trouble and this is precisely why you employ trucking factoring organizations who are happy to help out truckers particularly.

 

As all of us understand, trucking is an extremely big industry with lots of organizations out there hiring hundreds of vehicle drivers. The sad thing is, plenty of these drivers wind up in money dilemmas since they are still waiting for work from six weeks back to actually pay them. When this is the situation for a truck organization, depending on factoring providers for solutions maybe the finest alternative left.

 

This indicates that a truck company can provide the salaries of the crew, keep all the cars loaded with gas and continue to go up, evolve and expand without constantly waiting for the cash which is taking too long to come in. Trucking Business enterprises functioning without a factoring program established are leaving themselves at significant hazard, as competitors cash out promptly and go on to develop.

 

There's genuinely very little to be stressed about when it comes to employing a Factoring firm-- they typically are not like a banking company or somebody who is going to leave you with a massive heap of personal debt to pay back. You give them authentic invoices from job you have already finished , you are only accelerating the repayment process.

 

In the United States, where trucking firms thrive, factoring establishments are not considered accepting loan of in any capacity. This confidential deal then enables both groups to profit and delight in a convenient future-- it provides the factoring business a warranted resource of income to include in the list and it provides the trucking business the needed funds that they worked hard to gain.

 

The trucking establishment provides their statements to the factoring business. The trucking factoring firm then acquire the payments from the trucking company's clients. Factoring has been all around for hundreds of years and has been used for many years by several varied business-- but none more so than truckers. While you may well miss out on a small part of the money, something like 1-3 % depending upon who you work with, it indicates that you are receiving the funds today and can actually begin setting the resources to perform.

 

Anyway, an IOU or an invoice is certainly not going to fund bills, is it? For trucking companies when the finances can be very good one day and gone the next, it is up to the vehicle drivers to work sensibly and to make sure they are leaving themselves with a significant measure of time and finance to get through the week until they are handed over once more.

 

So the next time your trucking enterprise is bearing some temporary cash flow challenges and you are investing a lot of time chasing inactive paying clients, why not begin considering using a factoring companies as a means to get your money and give yourself a more comfortable 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. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Once the loan is paid off, you can then apply for another loan if the need arises.

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. 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.

 

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 do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

2. 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 makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

3. Receive Your 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. 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. With a bank loan interest continues to build, and this has to be paid the whole time you have a business loan; however with a Trucking Factoring company there is no interest - they take it right off the top by deducting it from the total amount of receivable accounts. So not only are you relieved of those monthly loan payments, but you also do not have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a bank. The most important benefits is that once you sell your accounts receivable to the factory company, you do not have to take time away from running your business to collect the money owed from reluctant to pay customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

Another bonus is that, because the Trucking Factoring company has evaluated the quality of your customers' credit before buying the accounts receivable, you learn valuable information regarding your customers, like which ones are likely to pay, and which ones are less likely to pay.A Trucking Factoring company is not the only method of gaining access to finance for the running and growing of your business, however it does offer a financing option well worth considering.

 

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