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How I Improved My Profits in One Evening - Our Freight Factoring Company Can Provide
Your Freight Company The Money You Want

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Invoice Factoring is beneficial for numerous factors. It allows a trucking business to raise cash without acquiring brand-new financial obligation. While financial obligation is occasionally necessary, the majority of truck businesses would prefer to raise money without obtaining cash. Financial obligation is risky, and when it can not be repaid, possessions can be repossessed. If the financial obligation is large enough, it might even compel a freight broker firm out of business.

 

 

 

 

 

 

 

Take This One Minute Test - Choose A Trucking�Factoring Company  Instead Of A Typical Bank Financing

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

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

Cash flow does not have to be a problem any ever more. Do not be deceived -- banks are not the only locations you can get financing. Other options are offered and you do not have to borrow money. Exactly what is truck factoring ? One option is called trucking factoring. Trucking Factoring is the procedure of selling accounts receivable to an investor instead of waiting to collect the cash from the client. Oh, the Irony- Trucking factoring has an ironic distinction: It is the monetary foundation of many of America's most effective businesses. Why is this ironic ? Since receivable loan funding is not taught in business colleges, is rarely discussed in business strategies and is fairly unknown to bulk of most of American company individuals.

Yet it is a financial procedure that releases up billions of dollars every year, enabling countless companies to grow and succeed. Commercial Factoring has been around for thousands of years. Factoring Businesses are financiers who pay money for the right to get the future payments on your invoices. An unpaid receivable or invoice has value. It is a debt your client has agreed pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business transactions, a big portion of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail deals. Utilizing the purest definition of the word, these large customer finance business are really simply large Receivable Loan Funding Businesses of consumer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The shop makes money almost immediately, even though you do not pay until you are prepared.

For this service, the credit card business charges Sears a charge (typical common normal fees vary from two to 4 percent of the sale). The Advantages Accounts Receivable Factoring can provide numerous advantages to cash-hungry business. Instead of waiting 30, 60, 90 days or longer for payment on a product that has actually currently 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 simply a few of the business requirements that can be met with instant  cash.

Staffing Factoring provides the means for a producer to renew stock and make even more products to offer: There is no longer a need to await for earlier sales to be paid. Receivable Loan Financing is not simply a cash management tool for producers: Practically any kind business can benefit from Trucking Factoring. Generally, 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 bound in 60 days' worth of invoices: You can not pay the power bill or today s payroll with a client s invoice, however you can sell that invoice for the money to meet those responsibilities. Using trucking factoring companies is a quick and simple procedure. The factoring company buys the invoice at a price cut, usually a couple of portion points less than the stated value of the invoice.

 

 

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The U.s. Transportation Association
mentions that there around
195,000 employees with freight trucking
firms and
300,000 personal providers trucking
companies certified to
operate in America that transported,
according to their most current searchings for billions of
items, materials and
fundamental materials .
There are numerous common
carriers either going solo or in
groups on our country
roads carrying these
vital items to our
shops, factories and harbors.

Moreover trucking factoring
corporations support
several of them and offer their
factoring facilities
countrywidecounting
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

 

Jersey City is the seat of Hudson County, New Jersey. As of the 2010 United States Census, the population of Jersey City was 247,597, making it the second-most populous city in New Jersey, after Newark.Part of the New York metropolitan area, Jersey City lies across from Lower Manhattan between the Hudson River and Upper New York Bay and the Hackensack River and Newark Bay. A port of entry, with 11 miles (18 km) of waterfront and significant rail connections, Jersey City is an important transportation terminus and distribution and manufacturing center for the Port of New York and New Jersey. Service industries have played a prominent role in the redevelopment of its waterfront and the creation of one of the nation's largest downtowns.After a peak population of 316,715 measured in the 1930 Census, the city's population saw a half-century long decline to a low of 223,532 in the 1980 Census, but since then the city's population has grown, with the 2010 population reflecting an increase of 7,542 (+3.1%) from the 240,055 counted in the 2000 Census, which had in turn increased by 11,518 (+5.0%) from the 228,537 counted in the 1990 Census

 

 

View Our Freight 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:

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.

 

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.

 

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

 

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

 

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.

 

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

 

 

"

Harris Truck and Haul has been in business since the mid 1980s. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the heady times from 2002 to 2007, Harris 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. Times were great for everyone, and the cash was flowing.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed down. And worse yet, Harris had noticed during the early part of 2008 that though the bulk of their clients were always on time with payments, the few late-bloomers there were, had seemingly started to spread this illness. Spring changed to summer, summer changed to fall, and the CEO of Harris, Donald Lee, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The numbers of clients who owed him back debt were growing.He had already been to the administrators to ask what the actual problem was. Were they doing something wrong or different when it came to reaching out to delinquent accounts? When checking his bookkeeper's records this was definitely not the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Harris hadn't gone elsewhere. They had just gone home.This current state-of-affairs was causing Donald Lee to have some very restless nights. He had employees to pay, goods to ship, trucks to maintain and overhead that was almost unbearable when compared against the lack of funds that were coming in. After work he would confide in his wife, Helen, and neither were unable to stop the constant worry over the lack of funds.""I have a bad feeling, Lin,"" he'd sadly say to his wife.""What could you do differently?"" she would ask.Donald would stare off for a moment and then close eyes. He could see the fleet of trucks he had purchased over the 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. What on earth was happening to create the death of his business?""I think I know what it could be,"" said Donald. ""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."" Helen 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'.""Helen was trying so hard to support her husband in these worrying times, while Donald was weighed down with the worry of how he was going to handle this situation he found himself in.The next day Donald strolled into his office and was determined to sit down and make every phone call to every client who had owed Harris money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Donald knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. A waste of time - a waste of money - he had the best intentions, but all the while Donald was realising just how much trouble he was in.Poor Donald spent the whole morning trying in vain to contact his debtors: they promised to call back, dodged his calls, or made small interest-only payments. He was beginning to feel quite despaired when his secretary knocked on his door.

 

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

 

""Of course Kim, please come in."" Donald relaxed back into his chair and looked up at Kimerley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Donald."" 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 the word factoring?"" she asked.""It sounds vaguely familiar. What is factoring""? he asked.She began, ""Well, it is really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Immediately?"" Donald interrupted.""Yes, immediately,"" she continued, ""it is actually very simple. 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,� Donald said. �And then what?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

This company tells us what the cost will be to purchase factoring for our accounts receivable. The funding commences once we�ve arrived at an agreement.�Donald was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Kim,"" he said.""Now, now, I know, I thought the same thing. But think about it, Donald: 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, Donald,"" she drew a circle around a paragraph on the document before him.""How flexible?"" he asked.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. It only takes 2 to 4 days for this to be figured out. ""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" Donald said.Donald took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Donald thought about this and agreed with Kimerley. The clients who owed them money were long standing friends and professional resources of Harris. Donald wasn't prepared to lose these relationships just because they were having financial issues at the moment. Donald 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, if he handled these debtors incorrectly, could spell disaster for both of them. He did not want to lose business but he also did not want to lose any more money.""Let me go over this tonight Kim, and thankyou."" Kim nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Donald keep the shirt on his back, and possibly hers too.Donald 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 Harris 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, Harris could receive up to fifty-percent cash advances upon load pick-ups. Donald was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""Well, I'll have to tell Brad about this,"" muttered Donald to himself.His son-in-law Brad had liked the idea of Harris so much and revered his father in law for having such business acumen that only two years before, he had gathered the venture capital to begin his own transportation service company. Donald knew then what struggles Brad would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Harris was hurting, a little guy like Brad was about to catch his death. But, maybe the answer for both of them was in freight factoring, and Donald was going to find out very soon.Some months later, having successfully gone through the entire process of the application, having experts study his credit history and statements and review his accounts receivable, Donald found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They used that time to refocus their efforts in being competitive in new territories. Donald looked back on the dismal months of life before freight factoring and almost shuddered at the thought. He probably wouldn't be in business today had he not learned just in time about freight factoring.

 

"

 

Jersey City is the seat of Hudson County, New Jersey. As of the 2010 United States Census, the population of Jersey City was 247,597, making it the second-most populous city in New Jersey, after Newark.Part of the New York metropolitan area, Jersey City lies across from Lower Manhattan between the Hudson River and Upper New York Bay and the Hackensack River and Newark Bay. A port of entry, with 11 miles (18 km) of waterfront and significant rail connections, Jersey City is an important transportation terminus and distribution and manufacturing center for the Port of New York and New Jersey. Service industries have played a prominent role in the redevelopment of its waterfront and the creation of one of the nation's largest downtowns.After a peak population of 316,715 measured in the 1930 Census, the city's population saw a half-century long decline to a low of 223,532 in the 1980 Census, but since then the city's population has grown, with the 2010 population reflecting an increase of 7,542 (+3.1%) from the 240,055 counted in the 2000 Census, which had in turn increased by 11,518 (+5.0%) from the 228,537 counted in the 1990 Census

 

 

More Trucking Factoring Companies Story Articles

"

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

 

Melvin�s father had started as an owner-operator and had grown Wells Trucking Company into a fifteen trailer fleet over forty years. There had been some hard times when it seemed everything was going to go under and even Melvin�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 Melvin'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. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. Every time he had to turn down a request, Wells Trucking looked weak in a very strong market.

 

His father would have told him to wait and to take his time adding on new technology. Melvin chuckled, thinking about his father. He remembered when his father was totally against installing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). He knew his father's days were long gone and new technology was very important for the business, like having Qualcomm to reduce communication time for bills of lading.

 

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

 

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. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Melvin had to really consider what his next step was going to be. Melvin had heard that there were companies that charged for same day money transfers and would only advance a percentage of the money owed to your company while holding the rest in a private account if they didn�t get their bill payment within 60 or so days. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

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. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He didn�t mind signing an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It was good money.

 

For Melvin it was quite a relief to be dealing with the factoring company. They were more personable than those loan managers at the bank. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar for a handout. The factoring companies were not interested in his credit nor the financial problems his father had experienced in the past. Factoring was based on the credit of his customers and on their reliability which worked well for Melvin 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 would not have any problems, nor would they think poorly of Wells Trucking, because the factoring companies handle themselves in such a polite and professional manner, similar to the way his father had managed the business in the past.

 

Melvin stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. With the capabilities of this new cash flow, Melvin could actually expand Wells Trucking Company further across the country and perhaps even go international into Canada. 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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View Our Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So, this is not a loan?� Russell Stewart asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Russell smiled at him, shaking her head.�Not quite,� she said.Russell was the owner of a small trucking company which had fallen on some hard times recently. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Greg. His company was called Obrien Trucking, named after both of his grandfathers, Earl and Bobby. They had both been hardworking men, and had done a lot to make Russell the same.Disaster had struck half a year ago, when two trucks in Greg�s fifteen truck fleet went down. One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. The financial security of Greg's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.A big problem a lot of trucking companies came across was how bills were paid in the industry. Waiting a month or longer for bills to be paid was quite normal. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Russell was an excellent business man, and he certainly hadn't done anything wrong. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.And that's why he found himself across the desk from this woman. Russell knew she was employed by a Factoring company and that her name was Dorothy. 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.Dorothy explained. �It�s not a loan, we purchase your accounts receivable. we are not giving you finance to be repaid later: we are purchasing something from you, and when you can you can buy it back. That way we�re protected from a complete loss, but you�re protected from the outrageous fees you would find in a loan from the bank.Russell nodded. It sounded perfect - perhaps too good?.Dorothy laughed. �I'm not sure that you believe me,� she chuckled.�Oh no, I do: it just sounds too good to be true. I actually thought I might end up losing my business.�Dorothy smiled, agreeing. �We get that a lot. 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. 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,� said Dorothy with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.

 

Russell completed the form, with Dorothy offering advice as needed.

 

The completed profile gave Dorothy and her company all the information they needed on Greg'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. Listening as Russell filled out his form, Dorothy was pretty sure he was a perfect candidate for factoring.When the form was done Dorothy took it and slid it into her briefcase. She then stood, reached across the desk and shook Greg�s hand. He also stood up, and they smiled at each other. Russell walked Dorothy 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 felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. But now, after speaking to Dorothy and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.The long nights, where he couldn�t sleep. The terrifying panic attacks that occurred regardless of where he was. Already he could feel all the stress start to drain away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was there, he was on the right path, and he was working to make things right.Russell couldn�t help but think back to when he had first started the business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been successful. Offering home cooking in his own hometown, his business had really prospered.But he had gotten bored. He wasn't passionate about the food industry. He thought long and hard, and then he decided to sell the restaurant. He took half a year off, and in that time he thought to start Obrien Trucking. And that's exactly what he did. 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 nearing fifty. He was concerned that he just did not have the energy left to try and save the business. But giving up wasn't part of his personality either.

 

The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He did not want to quit - both for himself and for his staff members.And now it seemed as though he would not have to - all because of Factoring. Russell opened his eyes, sat forward, turned his computer on. He had lots to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

"

 

 

 

More Trucking Factoring Company Story Articles

Reasons why Truck Establishments Employ Factoring Companies.

 

As the owner of your own company, you may likely be much more than mindful already of the hardship in making certain that cash flow matters do not become a problem down the line. After all, the most awful thing that can potentially happen for your business is to find yourself embroiled in a long and complicated condition that leaves you forever searching for the cash you need on an continuing manner.

 

For just about any company in this condition, the dilemma can come for waiting for work to clear up and actually be provided into your account. Invoices, checks, and the like can take some time to actually to beprocessed which may leave you with short-term cash flow problems. Luckily, there are solutions out there for companies to look into-- and one of these is factoring firms.

 

Factoring agencies will, in trade for your accounts, grant you with the cash right now in order that you do not have to fret about the delaying period which could make paying the expenses and obtaining materialsmore troublesome. With this type of system, invoice factoring can become extraordinarily useful for numerous companies who ought to avoid a money lure which they have discovered themselves in.

 

Simply because, relying on the volume of the work, it can take up to 60 days for some businesses to get paid then it is necessary to cover up your own back and definitely not leave yourself money short to pay the costs. After all, how many establishments possess two months profits just lying there to handle all their expenses till they make money?

 

This is primarily true of trucking enterprises. They have the tendency to deal with bunches of invoices which means a huge volume of collection time involves business owner themselves. Making an effort to get paid off in time can end up being an extraordinary difficulty and this is the reason why you make use of trucking factoring providers who are delighted to help out truckers primarily.

 

As we all know, trucking is an extremely huge industry with a lot of companies out there employing hundreds of drivers. Regrettably, numerous of these drivers land up in money issues since they are still anticipating work from six weeks earlier to actually pay them. When this is the scenario for a trucking firm, turning to factoring providers for assistance may be the finest alternative left.

 

This signifies that a trucking firm can pay the wages of the crew, keep all the vehicles filled with fuel and continue to surmount, flourish and expand without constantly waiting for the cash which is taking too lengthy to come in. Trucking Companies operating without a factoring system used are leaving themselves at critical threat, as competitions cash out quickly and go on to grow.

 

There's genuinely nothing to be stressed about when it comes to utilizing a Factoring contractor-- they are not like a financial institution or an individual who is going to leave you with a big pile of liability to repay. You give them authentic invoices from output you have already finished , you are merely accelerating the payment process.

 

In the Usa, where truck firms grow, factoring companies are not considered accepting loan of in any capacity. This private arrangement then lets both groups to make money and delight in a good future-- it gives the factoring provider a warranted asset of earnings to put into the list and it supplies the trucking business the needed money that they worked hard to get.

 

The trucking company presents their invoices to the factoring company. The trucking factoring provider then acquire the payment amounts from the trucking company's clients. Factoring has been all around for hundreds of years and has been adopted for long times by a lot of varied markets-- but none much more so than truckers. While you may well lose 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 finances today and can actually begin putting the funds to operate.

 

After all, an IOU or an invoice is not actually going to finance costs, is it? For trucking agencies when the hard earned cash can be very good one day and gone the next, it is up to the vehicle drivers to work sensibly and to make sure that they are leaving themselves with a substantial volume of time and finance to get through the week up until they are compensated once more.

 

So the next moment your trucking business is having some short-term cash flow problems and you are investing excessive time chasing slow paying clienteles, why not start considering utilizing a factoring companies as a method to get your money and give yourself a more convenient future in the eyes of your trucking workers and your bank difference?

 

 

 

 

 

 

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Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. While these loans are handy they are not available to every business. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Once the loan is paid off, you can then apply for another loan if the need arises.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not offer loans, and you do not go into debt when you get money from a Trucking Factoring company. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. 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 a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

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

 

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. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. 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 benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This means that it is easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.

 

3. You'll receive the money faster. With a Trucking Factoring company you can actually get the money you need faster. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. 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.Interest is Paid Up Front. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you do not have to continue to pay interest as they take it right off the top, deducting it from the total amount of accounts receivable. So you do not have to worry about monthly loan repayments, and you do not 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 good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

In addition, since the Trucking Factoring company evaluates the credit quality of your customers prior to purchasing the accounts receivable you gain valuable information into which customers are likely to pay and which ones are not so likely to pay.While a Trucking Factoring company is not the only way for your business to obtain the money it needs to keep growing, it does offer a type of financing well worth considering.

 

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