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Business Owners! Want Quick Curls? - Our Freight Invoice Factoring Company Can Give
Your Freight Company The Money You Need

factorinvoices.org

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Factoring invoices is advantageous for numerous factors. It permits a trucking company to raise money without obtaining new debt. While financial obligation is in some cases required, the majority of freight broker firm would prefer to raise cash without borrowing money. Debt is high-risk, and when it can not be paid back, assets can be repossessed. If the debt is large enough, it could even force a trucking firms out of business.

 

 

 

 

 

 

 

Imagine Holding Your banker Spellbound for 30 Minutes - Choose A Truck�Factoring Company  Instead Of A Traditional Bank Financing

How to Enhance Cash Flow Without Loaning -Cash Money flow is among the main reasons companies fail.

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

Cash flow does not have to be an issue any ever more. Do not be fooled -- banks are not the only places you can get funding. Other options are offered and you do not have to borrow. Exactly what is truck factoring ? One option is called truck factoring. Trucking Factoring is the procedure of offering accounts receivable to a financier instead of waiting to gather the cash from the client. Oh, the Irony- Trucking factoring has a paradoxical distinction: It is the monetary backbone of numerous of America's most successful companies. Why is this paradoxical ? Because receivable funding is not instructed in business colleges, is rarely discussed in company strategies and is relatively unidentified to bulk of most of American business individuals.

Yet it is a financial process that frees billions of dollars every year, enabling countless businesses to grow and succeed. Factoring has been around for countless years. Accounts Receivable Factoring Companies are financiers who pay cash for the right to receive the future payments on your invoices. An overdue receivable or invoice has value. It is a debt your client has to pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business transactions, a large percentage of the retail business uses a factoring principal. MasterCard, Visa, and American Express all utilize a type of factoring in their retail transactions. Using the purest meaning of the word, these big consumer finance business are really just large Factoring Companies of customer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The store makes money practically immediately, although you do not make payment until you are prepared.

For this service, the charge card business charges Sears a fee (typical common normal fees range from two to four percent of the sale). The Advantages Receivable Financing can provide numerous advantages to cash-hungry companies. Instead of waiting 30, 60, 90 days or longer for payment on an item that has actually already been delivered, 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 requirements that can be met with instant  money.

Truck Factoring offers the ways for a manufacturer to renew inventory and make more products to offer: There is no longer a requirement to await for earlier sales to be paid. Receivable Loan Financing is not just a cash management device for producers: Practically any type business can take advantage of Staffing Factoring. Typically, a business that extends credit will have 10 to 20 percent of its annual sales tied up in invoices at any given time. Think for a minute about exactly 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 client s invoice, but you can sell that invoice for the money to satisfy those obligations. Using truck factoring companies is a fast and easy procedure. The factoring company buys the invoice at a price cut, typically a few portion points less than the stated value of the invoice.

 

 

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garland-factoring-companies

 

The American Transportation Organization
states that there are about
205,000 workers with transportation
businesses and
300,000 personal providers trucking
firms licensed to
run in the United States that transferred,
according to their most current data of millions
items, supplies and
standard materials .
There are a number of typical
carriers either going solo or in
teams on our nation
roadways transferring these
important products to our
stores, manufacturing facilities and ports.

Furthermore trucking factoring
firms help
numerous of them and offer their
receivable loan facilities
nationallycomprising
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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Garland is a city in the U.S. state of Texas. It is a large city northeast of Dallas and is a part of the Dallas�Fort Worth metroplex. It is located almost entirely within Dallas County, except a small portion located in Collin County. As of the 2010 census, the city had a population of 226,876, making it the eighty-seventh most populous city in the United States of America and the twelfth most populous city in the state of Texas.In 2008, Garland was ranked #67 on CNN and Money magazine's list of the ""Top 100 Places to Live""In the late 1930s the Craddock food company, which manufactured pickles, moved to town. In 1937 the KRLD (Dallas) radio tower was constructed in Garland. During World War II several aircraft plants operated in the Garland area. After the war Kraft Foods bought the Continental Motors Plant to retool for its manufacture. The Kraft Foods plant still operates to this day. As a station on two railroads, Garland was a major onion-shipping point in the 1940s.Resistol Hats in Garland is a notable manufacturer of premium hats, many of which have been worn by or given to notable figures around the world. The company has long been an important part of Garland's manufacturing base.The company was founded by E.R. Byer and Harry Rolnick, who established Byer-Rolnick in Dallas in 1927. At the time, the company produced men's felt hats. The company used the name ""Resistol Hats"" to indicate that the hats could ""resist-all"" weather conditions. Some accounts contend the name was given because the headbands in the company's hats were more resistant to scalp oil.The growing firm needed to expand. In 1938, it moved to a larger facility in Garland, where Resistol hats continue to be manufactured today. For decades, residents surrounding the hat factory could set their clocks to its whistle.In the early 1980s Garland had one of the lowest poverty rates of cities in the country. In 1990 it had a population of 180,650 and 2,227 businesses, making it Dallas County's second largest city and the tenth largest in the state. Garland had a variety of industries, including electronics, steel fabrication, oilfield equipment, aluminum die casting, hat manufacture, dairy products, and food processors.

 

"

 

Watch Our Truck Factoring Companies YouTube Videos For More Information

 

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

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

 

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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. 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

 

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

 

"

Olson 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 boom times from 2002 to 2007 Olson Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. Cash was flowing and times were good for all.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

 

. And worse yet, Olson 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 Olson, Jorge Sims, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The number of clients who were late in their payments was continuing to grow.He had gone to his administrators and asked them what the problem had been. Were they doing things different, or wrong, when it came to collecting overdue accounts? By his bookkeepers records, this wasn't 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 Olson money had jumped ship and decided to leave him holding the bag.

 

. They could not afford to pay him their debt, but they could afford a lesser service, maybe. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. The had just gone!.The situation looked dire to Jorge Sims. 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, Annette, and still find no relief from the worry and frustration.

 

""I have a bad feeling, Lin,"" he would say with deep woe.""Well, what do you think it is?"" she would say.Jorge would stare off into the distance, and then slowly close his eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them on the road, delivering good to all his loyal customers. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. What could cause this ultimate death spiral of business?""I think I know what it could be,"" Jorge said. ""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."" Annette 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'.""Annette was trying so hard to support her husband in these worrying times, while Jorge was weighed down with the worry of how he was going to handle this situation he found himself in.The following day Jorge walked into his office with a spring in his step, determined to call each and every client who owed money to Olson Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Jorge 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. Wasting money, wasting time - even with the best of intentions, Jorge 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 Rachelerley knocked at his door.

 

""Jorge, can I have a word?"" she queried, standing in the doorway.

 

""Sure thing Rachel, come on in."" Jorge leaned back in his chair and looked expectantly at Rachelerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Jorge."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard the word factoring?"" Rachelerley asked.""It does sound vaguely familiar. What is it?"" he said.She began, ""Well, it is really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Jorge interrupted ""Immediately?"".""Immediately, yes"" she added, ""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. 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�s a broad view.""Jorge replied cautiously ""I see - and what happens then?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. There�s a lot of flexibility depending on the business volume and credit histories. This company tells us what the cost will be to purchase factoring for our accounts receivable. The funding commences once we�ve arrived at an agreement.�Leaning forward, Jorge studied the documents very closely.""It sounds too good to be true, Rachel,"" he said.""Now, now, I know, I thought the same thing. But think about it, Jorge: 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. And they're flexible Jorge,"" 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. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" said Jorge.He took a deep breath and looked at his secretary with something she recognized as hope.""Precisely�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Jorge thought about this and agreed with Rachelerley. The clients who owed them money were long standing friends and professional resources of Olson. They did not want to throw away these relationships because they were having trouble paying their bills now. Jorge 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. He did not want to lose business but he also did not want to lose any more money.""Let me go over this tonight Rachel, and thankyou."" Rachel stood up and left Jorge's office, with the nice feeling of knowing that she may just have solved a very serious problem.Jorge 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 Olson 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, Olson 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.""I must tell Craig the good news,"" muttered Jorge to himself.Craig is Jorge's son-in-law, and he really admired the ideas behind Olson, so much so that only two years before he had started his own transportation service business. Jorge knew then what struggles Craig would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Olson was struggling then the little guys, like Craig, were going to be in even more trouble.

 

Perhaps the antidote to these problems was in freight factoring, and they were about to find out.Some months later, having successfully gone through the entire process of the application, having experts study his credit history and statements and review his accounts receivable, Jorge found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They used that time to refocus their efforts in being competitive in new territories. Jorge recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. He probably wouldn't be in business today had he not learned just in time about freight factoring.

 

"

 

"

Garland is a city in the U.S. state of Texas. It is a large city northeast of Dallas and is a part of the Dallas�Fort Worth metroplex. It is located almost entirely within Dallas County, except a small portion located in Collin County. As of the 2010 census, the city had a population of 226,876, making it the eighty-seventh most populous city in the United States of America and the twelfth most populous city in the state of Texas.In 2008, Garland was ranked #67 on CNN and Money magazine's list of the ""Top 100 Places to Live""In the late 1930s the Craddock food company, which manufactured pickles, moved to town. In 1937 the KRLD (Dallas) radio tower was constructed in Garland. During World War II several aircraft plants operated in the Garland area. After the war Kraft Foods bought the Continental Motors Plant to retool for its manufacture. The Kraft Foods plant still operates to this day. As a station on two railroads, Garland was a major onion-shipping point in the 1940s.Resistol Hats in Garland is a notable manufacturer of premium hats, many of which have been worn by or given to notable figures around the world. The company has long been an important part of Garland's manufacturing base.The company was founded by E.R. Byer and Harry Rolnick, who established Byer-Rolnick in Dallas in 1927. At the time, the company produced men's felt hats. The company used the name ""Resistol Hats"" to indicate that the hats could ""resist-all"" weather conditions. Some accounts contend the name was given because the headbands in the company's hats were more resistant to scalp oil.The growing firm needed to expand. In 1938, it moved to a larger facility in Garland, where Resistol hats continue to be manufactured today. For decades, residents surrounding the hat factory could set their clocks to its whistle.In the early 1980s Garland had one of the lowest poverty rates of cities in the country. In 1990 it had a population of 180,650 and 2,227 businesses, making it Dallas County's second largest city and the tenth largest in the state. Garland had a variety of industries, including electronics, steel fabrication, oilfield equipment, aluminum die casting, hat manufacture, dairy products, and food processors.

 

"

 

More Trucking Factoring Companies Story Articles

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

 

More than forty years ago Leonard's father had started this business working as an owner-operator and eventually growing Woods Trucking Company into a fifteen trailer fleet. There had been some hard times when it seemed everything was going to go under and even Leonard�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. Now the company was solely in Leonard�s hands and he wanted to live to see it in better shape for his sons.

 

To move Woods Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. He had employees to pay. They all have families and the usual household bills. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. He knew that turning down these requests made Woods Trucking look inefficient and weak in what was currently a strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Leonard chuckled, thinking about his father. He remembered when his father was totally against installing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). His father days were long gone and technology was actually an important improvement for the business such as having Qualcomm to cut down on fruitless time communicating on the phone for bills of lading.

 

Leonard believed a successful man is always thinking of his next step. How would he take Woods 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.

 

But was factoring the answer? 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. 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 this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Now it was time for Leonard to do his homework. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more 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. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

But it turned out to be quite easy. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. 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. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It was good money.

 

For Leonard it was quite a relief to be dealing with the factoring company. They were extremely helpful and more personable than the bank staff. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies were not interested in his credit nor the financial problems his father had experienced in the past. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Leonard because he and his father had created a very strong and loyal list of clientele over the years. So he knew they would understand when the factoring company contacted them for the invoices. His clients would not have any problems, nor would they think poorly of Woods 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.

 

Leonard stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. With the capabilities of this new cash flow, Leonard could actually expand Woods Trucking Company further across the country and perhaps even go international into Canada. 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.

 

 

 

View Our Trucking Factoring Companies Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So, this is not a loan?� Casey Gordon asked as he leaned back in his chair, crossing his legs. The woman who sat across the desk smiled and shook her head.�No, not exactly,� she stated.Casey Gordon owned a small trucking company, and his business had recently fallen on difficult times. Trucking could be a profitable business, and for a little under a decade, it had been for Micheal. He named his business Cruz Trucking, named after Ted and Jason, his two grandfathers. Both of these men had been very hardworking and had set a great example for Micheal.Disaster had struck half a year ago, when two trucks in Micheal�s fifteen truck fleet went down. One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. Casey 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 Casey had on hand.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

Waiting a month or longer for bills to be paid was quite normal. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Casey wasn�t a bad owner, and he hadn�t messed up. 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.And that's why he found himself across the desk from this woman. Casey knew she was employed by a Factoring company and that her name was Toni. Casey 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.Toni 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.Casey nodded. It sounded good to him, almost too good.Toni laughed. �I'm not sure that you believe me,� she said.�Oh no, I do: it just sounds too good to be true. I thought I was going to lose my company.�Toni smiled, agreeing. �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. Sometimes you need help. 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,� Toni said with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.

 

Casey filled the form out, with Toni available to help him if he needed it. The profile filled Toni and her company in on Micheal�s company, and would help them determine if he was suitable for factoring. In truth, not all companies were. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. Listening as Casey filled out his form, Toni was pretty sure he was a perfect candidate for factoring.Toni took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Micheal�s hand. He also stood up, and they smiled at each other. They said their goodbyes and Casey walked her to the door, and then returned to his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He 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 Toni 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.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 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. At twenty-two and straight out of school he had opened a restaurant. It had been successful. Home cooking in his hometown, and he had done very well.But it wasn't what he really wanted to do. He wasn't passionate about the food industry. He thought 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 Cruz Trucking. So he did it. For the second time in his short life he created a company from the ground up. The business had been an instant success.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was about to turn fifty. He didn�t think he had it in him, to save this company. 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 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. Micheal's eyes opened, he sat forward in his chair and turned on his computer. He had things to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

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More Trucking Factoring Company Story Articles

Why Truck Firms Make use of Factoring Companies.

 

As the manager of your own business enterprise, you may well be much more than knowledgeable already of the difficulty in making sure that cash flow concerns do not become a predicament down the line. Anyway, the most unfortunate thing that can possibly take place for your business is to find yourself dragged in a long and hard circumstance that leaves you forever trying to find the funds you really need on an continuing basis.

 

For pretty much any enterprise in this situation, the issue can come for waiting for work to clear up and actually be compensated into your account. Invoices, checks, and the like can take a long time to actually to be taken care of which can easily leave you with temporary capital difficulties. Luckily, there are solutions out there for companies to delve into-- and one of these is factoring firms.

 

Factoring companies will, in exchange for your accounts, supply you with the funds immediately in order that you do not have to worry about the delaying period which could make paying the bills and acquiring toolsmore challenging. With this type of arrangement, invoice factoring can come to be extraordinarily useful for several firms who need to avoid a money lure which they have found themselves in.

 

Since, depending upon the volume of the job, it can take up to 60 days for several enterprises to get compensated then it is necessary to take care of your own back and certainly not leave yourself funds short to pay the expenses. After all, how many companies have two months revenue just lying there to cover all their overheads until they earn?

 

This is primarily correct of trucking firms. They often deal with bunches of statements which means a considerable volume of collection time demands company owner themselves. Attempting to get paid out promptly can develop into an extraordinary difficulty and this is exactly why you make use of trucking factoring firms who are thrilled to help out truckers mainly.

 

As most of us realize, trucking is an remarkably massive market with lots of companies out there employing hundreds of vehicle drivers. The sad thing is, several of these drivers end up in cash issues simply because they are still anticipating work from six weeks back to actually compensate them. When this is the case for a trucking agency, turning to factoring providers for solutions could be the most recommended alternative left.

 

This implies that a trucking organization can compensate the salaries of the workers, keep all the vehicles loaded with gas and continue to surmount, rise and expand without consistently waiting for the finances which is taking too prolonged to come in. Trucking Firms operating without a factoring system implemented are leaving themselves at substantial risk, as rivals cash out quickly and go on to grow.

 

There's genuinely nothing at all to be distressed about when it comes to employing a Factoring firm-- they commonly are not like a bank or a person who is going to leave you with a substantial heap of liability to repay. You give them genuine invoices from output you have already finished , you are merely quickening the repayment process.

 

In the Usa, where trucking firms prosper, factoring agencies are not considered borrowing in any capacity. This confidential contract then makes it possible for both parties to benefit and enjoy a worry-free future-- it provides the factoring agency a secured resource of cash flow to include in the list and it offers the trucking business the needed money that they worked hard to earn.

 

The trucking enterprise gives their statements to the factoring establishment. The trucking factoring firm then receive the installment payments from the trucking company's customers. Factoring has beenaround for centuries and has been used for long times by several various sectors-- but none much more so than truckers. While you might possibly miss out on a small part of the money, something like 1-3 % depending on who you partner with, it indicates that you are obtaining the money today and can actually begin setting the resources to operate.

 

Once and for all, an IOU or an invoice is certainly not going to pay for overheads, is it? For trucking firms when the resources can be great one day and gone the next, it is up to the vehicle drivers to work sensibly and to ascertain they are leaving themselves with a significant measure of time and finance to get through the week till they are compensated once again.

 

So the next period your trucking business is bearing some momentary cash flow issues and you are devoting excessive time chasing slowly paying customers, why not begin looking at utilizing a factoring businesses as a method to get your finances and give yourself a more convenient future in the eyes of your trucking team and your bank balance?

 

 

 

 

 

 

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Traditional 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. 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. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. 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 offer loans, and you do not go into debt when you get money from a Trucking Factoring company. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once you have set up Trucking Factoring account it continues as long as you wish it too and the amount of money available to you even can grow as your business grows, giving you the ready cash you need to meet your own obligations.

 

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. 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. 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. 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 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 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 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.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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