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Do Your Receivables Turn as Quickly as You Would Like - Our Accounts Receivable Factoring Company Can Give Your Trucking Company The Cash You Want


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factoring trucking receivables factoring for trucking freight bill factoring factoring for trucking companies

 

Trucking Factoring is useful for a number of reasons. It allows a truck company to raise cash without getting brand-new financial obligation. While debt is in some cases required, most trucking firms would prefer to raise cash without borrowing money. Debt is dangerous, and when it can't be paid back, assets can be repossessed. If the financial obligation is big enough, it may even force a truck businesses out of business.

 

The Most Expensive Mistake of Your Life - Select A Truck�Factoring Company  Instead Of A Traditional Bank Funding

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

At one time or another, every business, even successful ones, have experienced poor money 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 financing. Other solutions are available and you do not have to borrow money. What is truck factoring ? One option is called truck factoring. Trucking Factoring is the procedure of selling accounts receivable to a financier rather than waiting to gather the money from the client. Oh, the Irony- Trucking factoring has a paradoxical difference: It is the monetary foundation of many of America's most effective businesses. Why is this paradoxical ? Because factoring is not taught in business colleges, is rarely mentioned in company strategies and is fairly unidentified to the majority of most of American business individuals.

Yet it is a monetary procedure that releases up billions of dollars every year, allowing thousands of businesses to grow and succeed. Receivable Loan Funding has been around for thousands of years. Trucking Factoring Businesses are investors who pay money for the right to get the future payments on your invoices. An overdue receivable or invoice has value. It is a financial obligation your customer has actually agreed pay in the near future. Factoring Principals--Although factoring offers solely with business-to-business deals, a big 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 simply big Factoring Companies of consumer 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 pay up until you are prepared.

For this service, the credit card company charges Sears a fee (typical common normal charges range from 2 to four percent of the sale). The Advantages Factoring can offer numerous benefits to cash-hungry companies. Instead of waiting 30, 60, 90 days or longer for payment on an item that has actually currently been provided, a company can factor (sell) its receivables for cash at a little price cut off the dollar value of the invoice. Payroll, marketing efforts, and working capital are simply a few of the business requirements that can be satisfied with instant  money.

Receivable Funding offers the means for a manufacturer to replenish inventory and make more products to offer: There is no longer a need to await for earlier sales to be paid. FACTORING is not simply a cash management tool for manufacturers: Almost any kind business can benefit from Invoice Factoring. Generally, a company that extends credit will have 10 to 20 percent of its annual sales bound in accounts receivable at any given time. Think for a minute about exactly how much is tied up 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 discount, usually a couple of portion points less than the stated value of the invoice.

 

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The American Truck Organization specifies that there around 200,000  employees with truck companies and 276,000 private providers trucking firms certified to run in the U.S. that  carried, according to their latest searchings for billions of  products, supplies and standard materials . There are numerous  common carriers either going solo or in groups on our nation roads transferring these crucial items to our shops, factories and harbors.

And truck factoring corporations benefit many of them and offer their factoring services nationwide counting 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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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 JOC Top 50 Trucking Companies list, based on data prepared by SJ Consulting Group in Pittsburgh.

 

Life of a Truck driver, like many other professionals can be very challenging, rewarding, and frustrating at the same time. �The Truckers Place.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

 

Life of a Truck driver, like many other professionals can be very challenging, rewarding, and frustrating at the same time. �The Truckers Place.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

 

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

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

 

United States Trucking Companies

Click below to find Trucking Companies in the United States:

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

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

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

 

 

 

 

 

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In its beginnings, Dallas relied on farming, neighboring Fort Worth's Stockyards, and its prime location on Native American trade routes to sustain itself. Dallas' key to growth came in 1873 with the building of multiple rail lines through the city. As Dallas grew and technology developed, cotton became its boon and by 1900 Dallas was the largest inland cotton market in the world, becoming a leader in cotton gin machinery manufacturing. By the early 1900s Dallas was a hub for economic activity all over the Southern United States and was selected in 1914 as the seat of the Eleventh Federal Reserve District. By 1925 Texas churned out more than ? of the nation's cotton crop, with 31% of Texas cotton produced within a 100-mile (160 km) radius of Dallas. In the 1930s petroleum was discovered east of Dallas near Kilgore, Texas. Dallas' proximity to the discovery put it immediately at the center of the nation's petroleum market. Petroleum discoveries in the Permian Basin, the Panhandle, the Gulf Coast, and Oklahoma in the following years further solidified Dallas' position as the hub of the market.[67]The end of World War II left Dallas seeded with a nexus of communications, engineering, and production talent by companies such as Collins Radio Corporation. Decades later, the telecommunications and information revolutions still drive a large portion of the local economy. The city is sometimes referred to as the heart of ""Silicon Prairie"" because of a high concentration of telecommunications companies in the region, the epicenter of which lies along the Telecom Corridor located in Richardson, a northern suburb of Dallas. The Corridor is home to more than 5,700 companies[68] including Texas Instruments (headquartered in Dallas), Nortel Networks, Alcatel Lucent, AT&T, Ericsson, Fujitsu, Nokia, Rockwell Collins, Cisco Systems, Sprint, Verizon Communications, XO Communications and until recently[when?] CompUSA (which is now headquartered in Miami,FL).In the 1980s Dallas was a real estate hotbed, with the increasing metropolitan population bringing with it a demand for new housing and office space. Several of Downtown Dallas' largest buildings are the fruit of this boom, but over-speculation and the savings and loan crisis prevented any further additions to Dallas' skyline. Between the late 1980s and the early 2000s, central Dallas went through a slow period of growth and has only recently recovered. Since 2000, the real estate market in the Dallas�Fort Worth metroplex has been relatively resilient. However, Dallas is among the largest cities in the U.S. where rent declined significantly. Whereas the national decline in rent is approximately 4%, Dallas rent declined an average of 8% in early 2010.[69]Texas Instruments, a major manufacturer, employs 10,400 people at its corporate headquarters and chip plants in Dallas. Defense and aircraft manufacturing dominates the economy of nearby Fort Worth.[70][71]The Dallas-Fort Worth Metroplex has one of the largest concentrations of corporate headquarters for publicly traded companies in the United States. The city of Dallas has 12 Fortune 500 companies,[12] and the DFW region as a whole has 20.[72] In 2007�08, Comerica Bank and AT&T located their headquarters in Dallas. Irving is home to four Fortune 500 companies of its own, including ExxonMobil, the most profitable company in the world and the second largest by revenue for 2008,[73] Kimberly-Clark, Fluor (engineering), and Commercial Metals.[74] Additional companies headquartered in the Metroplex include Southwest Airlines, American Airlines, RadioShack, Neiman Marcus, 7-Eleven, Brinker International, AMS Pictures, id Software, ENSCO Offshore Drilling, Mary Kay Cosmetics, Chuck E. Cheese's, Zales and Fossil. Corporate headquarters in the northern suburb of Plano include HP Enterprise Services, Frito Lay, Dr Pepper Snapple Group, and JCPenney. Many of these companies�and others throughout the DFW metroplex�comprise the Dallas Regional Chamber.Susan G. Komen for the Cure, the world's largest breast cancer organization[75] was founded and is headquartered in Dallas.In addition to its large number of businesses, Dallas has more shopping centers per capita than any other city in the United States and is also home to the second shopping center ever built in the United States, Highland Park Village, which opened in 1931.[76] Dallas is home of the two other major malls in North Texas, the Dallas Galleria and NorthPark Center, which is the 2nd largest mall in Texas. Both malls feature high-end stores and are major tourist draws for the region.[citation needed]According to Forbes magazine's annual list of ""The Richest People in America"" published September 21, 2011, the city itself is now home to 17 billionaires, up from 14 in 2009. In 2009 (with 14 billionaires) the city placed 6th worldwide among cities with the most billionaires.[77][78] The ranking does not even take into account the 8 billionaires who live in the neighboring city of Fort Worth. In 2013, Forbes also ranked Dallas No. 13 on its list of the Best Places for Business and Careers.[79]Dallas is currently the third most popular destination for business travel in the United States, and the Dallas Convention Center is one of the largest and busiest convention centers in the country, at over 1,000,000 square feet (93,000 m2), and the world's single-largest column-free exhibit hall

 

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Ray Truck and Haul has been in business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the heady times from 2002 to 2007, Ray 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 to a crawl

 

. Worse still, it was noticed by Ray in early 2008 that even though most of their loyal customers were on time with their payments, there were a few late bloomers who were starting to spread the disease. And as spring turmed to summer and summer into the early days of fall, Dean Hudson, CEO of Ray felt a chill go down his spine whenever he would look at the weekly A/R reports. The numbers of clients who owed him back debt were growing.He had gone to his administrators and asked them what the problem had been. Were they doing something wrong or different when it came to reaching out to delinquent accounts? 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 Ray money had jumped ship and decided to leave him holding the bag.

 

. They couldn't afford to pay him their debt, but they could afford a lesser service, maybe. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. They had just gone home.This current state-of-affairs was causing Dean Hudson 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, Audrey, and neither were unable to stop the constant worry over the lack of funds.""Lin, I have a really bad feeling,"" he would say with deep woe.""What could you do differently?"" she would ask.Dean would stare off for a moment and then close eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them on the road, delivering good to all his loyal customers. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What could cause this ultimate death spiral of business?""I think I know what it could be,"" Dean said. ""I've relied too long on the profits I receive from invoices alone. I've let too many of our customers go too long without paying on their bills."" Linda could only grab her husband's hand and look at him lovingly, ""It's a hard economy. It might be awhile until things get settled up.

 

""Dean knew very well that Audrey was only trying to help, but his responsibilities weighed heavily on his shoulders and he knew he had better do something soon to resolve this situation.The following day Dean walked into his office with a spring in his step, determined to call each and every client who owed money to Ray Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Dean 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, Dean knew that he was in trouble.

 

Poor Dean 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.

 

""Dean, can I have a word?"" she asked standing in the doorway.

 

""Of course Jenny, please come in."" Dean leaned back in his chair and looked expectantly at Jennyerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Dean."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard of factoring?"" Jennyerley asked.""It sounds vaguely familiar. What is it?"" he said.""Well,"" she began, ""It�s actually quite simple really.

 

Basically, factoring invoices means that we would get paid immediately for the loads we haul.""""Immediately?"" Dean interrupted.""Immediately, yes"" she added, ""It's actually very simple. We can have an expert account manager review our numbers and help us complete a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. 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.��Dean replied cautiously ""I see - and what happens then?��Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. 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. We come to an agreement and the funding starts pouring out.�Dean was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Jenny,"" he said.""Yes, I know; that's exactly what I thought at the beginning. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. And they're flexible Dean,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" asked Dean.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. It only takes 2 to 4 days for this to be figured out. """"It does all sound pretty good, remembering that we're all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. 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 Dean.Dean took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. This could very well be the answer to resolving the problems we're having with these clients who still owe us money.""Dean thought about this and agreed with Jennyerley. The clients who owed them money were long standing friends and professional resources of Ray. Just because they were experiencing difficulties paying their own bills now, Dean was very concerned about losing these relationships. Dean 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. If he didn't handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. He didn't want to lose business but he also didn't want to lose any more money.""Well, let me think about this tonight Jenny, thank you."" Jenny nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Dean keep the shirt on his back, and possibly hers too.Dean 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 Ray 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. Dean was surprised: it said that his company could get up to fifty percent cash advances on load pickups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""Well, I'll have to tell Sergio about this,"" muttered Dean to himself.Sergio is Dean's son-in-law, and he really admired the ideas behind Ray, so much so that only two years before he had started his own transportation service business. Dean knew then what struggles Sergio would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Ray was hurting, a little guy like Sergio was about to catch his death. 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, Dean 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 took that time and refocused effort to offering competitive prices in new territories. Dean 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.

 

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More Trucking Factoring Companies Story Articles

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Factoring in the Future of a Trucking Business: A Story Tony Hamilton let the phone ring on his desk. His morning coffee cooled and his cigarette smoked away in the tray: Tony is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Hamilton Trucking Company had reached a turning point and he now had to make a decision as to whether he should sign up with a factoring company, and indeed if this would be a good or regrettable decision for his business.

 

More than forty years ago Tony's father had started this business working as an owner-operator and eventually growing Hamilton Trucking Company into a fifteen trailer fleet. There had been some hard times when it seemed everything was going to go under and even Tony�s mother strapped herself into a cab to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. Now the company was solely in Tony�s hands and he wanted to live to see it in better 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 had families and household bills too. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. Every time he had to turn down a request, Hamilton Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Tony allowed himself a good hard chuckle. His father had been against placing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). 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.

 

Tony believed a successful man is always thinking of his next step. How would he take Hamilton Trucking to the next level? More importantly, how could he afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. 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 didn't really understand how it all worked. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. During those thirty days the trucking company can't pay its employees and bills with invoices.

 

Now it was time for Tony 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. 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. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

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. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He didn�t mind signing an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he wouldn't have to keep going back and forth to different companies. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It sounded like a great scheme to him.

 

For Tony 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 Tony because he and his father had created a very strong and loyal list of clientele over the years. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients wouldn�t think poorly of Hamilton Trucking and the factoring companies appeared capable of handling the accounts receivable in the same polite manner that his father had used over the years.

 

Tony 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, Tony could actually expand Hamilton 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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Trucking Factoring  Articles

�So It is not a loan?� asked Jose Webb, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she said.Jose Webb owned a small trucking company, and his business had recently fallen on difficult times. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Jaime. His company was called Jensen Trucking, named after both of his grandfathers, Jesus and Brett. They had both been hardworking men, and had done a lot to make Jose the same.Disaster had struck half a year ago, when two trucks in Jaime�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. Jose 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 Jose had on hand.A big problem a lot of trucking companies came across was how bills were paid in the industry. You could go a month or more before bills were completely paid off. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Jose was an excellent business man, and he certainly hadn't done anything wrong. Things had happened that he couldn't 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. Her name was Olga and she worked for a factoring company. Jose 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.Olga explained. �it is really not a loan at all: we actually buy your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. That way we�re protected from a complete loss, but you�re protected from the outrageous fees you would find in a loan from the bank.Jose agreed. It sounded good to him, almost too good.The woman laughed. �You look like you don�t believe me,� she chuckled.�No, I do, I just think it sounds a bit too good to be true. I actually thought I might end up losing my business.�Olga smiled, agreeing. �Yes, we get a lot of that. Listen, I�d hate to see you lose your company. We know how hard you work, and that you've invested everything in your business. We all need help sometimes. That's why we do what we do.��Well, I'm very grateful that you came to see me today.��No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� Olga said with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Jose filled the form out, with Olga available to help him if he needed it. The completed profile gave Olga and her company all the information they needed on Jaime'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 businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. As Jose completed his form, Olga listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Olga took it and slid it into her briefcase. She then stood, reached across the desk and shook Jaime�s hand. He stood before they shook as well, and then smiled. Jose walked Olga to the door where they said 'Goodbye', then he went back into 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. But now, after speaking to Olga and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.All those long, sleepless nights. The 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.Jose 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. Home cooking in his hometown, and he had done very well.But he had gotten bored. His passion didn�t lie with the food industry. He thought long and hard, and then he decided to sell the restaurant. He took six months off, and during that time he decided to create Jensen Trucking. So he did it. For the second time in his short life he created a company from the ground up. He had been successful.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was nearing fifty. He didn�t think he had it in him, to save this company. But giving up wasn't part of his personality either.

 

The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He didn't want to quit - both for himself and for his staff members.And now it seemed as though he wouldn't have to - all because of Factoring. Jaime's eyes opened, he sat forward in his chair and turned on his computer. He had lots to do. He could be thankful later, for now, it was time to work.

 

 

 

More Trucking Factoring Company Story Articles

Why Truck Corporations Employ Factoring Firms.

 

As the manager of your own firm, you may be much more than wary already of the difficulty in making certain that capital issues do not become a dilemma down the line. After all, the most disappointing thing that can quite possibly develop for your business is to find yourself dragged in a long and tough situation that leaves you forever looking for the resources you really need on an continual manner.

 

For pretty much any establishment in this scenario, the trouble can come for waiting for work to lapse and actually be settled into your account. Invoices, checks, and the like could take a long time to actually to beprocessed which could leave you with momentary cash flow dilemmas. Gratefully, there are options out there for enterprises to consider-- and one of these is factoring agencies.

 

Factoring firms will, in substitution for your statements, supply you with the finances right away so you don't have to worry about the delaying phase that could make paying the expenses and getting materialsmore challenging. With this sort of arrangement, invoice factoring can end up being remarkably useful for countless firms who ought to get out of a money trap which they have found themselves in.

 

Because, basing on the size of the work, it can take up to 60 days for several firms to get compensated then it's vital to cover up your own back and not leave yourself resources short to pay the costs. After all, how many companies have two months revenue just lying there to handle all their spendings until they make money?

 

This is specifically true of truck agencies. They generally take care of bunches of invoices which means a serious quantity of collection time demands business owner themselves. Striving to get paid in time can become an amazing struggle and this is why you make use of trucking factoring organizations who are pleased to help out truckers exclusively.

 

As we all determine, trucking is an amazingly big market with many firms out there employing hundreds of drivers. Sadly, quite a few of these drivers land up in income difficulties given that they are still waiting for work from six weeks earlier to actually compensate them. When this is the case for a truck organization, consulting factoring providers for reinforcement might be the most suitable choice left.

 

This indicates that a trucking company can pay the salaries of the people, keep all the trucks filled with gas and continue to scale, rise and expand without continually waiting for the finances which is taking too prolonged to come in. Trucking Enterprises working without a factoring program put in place are leaving themselves at substantial risk, as rivals cash out rapidly and carry on to broaden.

 

There's honestly very little to be troubled about when it comes to using a Factoring establishment-- they typically aren't like a banking company or somebody who is going to leave you with a huge stack of debt to repay. You give them authentic invoices from job you have already completed , you are only just speeding the payment process.

 

In the United states of America, where truck agencies succeed, factoring firms are not considered taking on loan in any capacity. This private deal then permits both groups to profit and take joy in a convenient future-- it provides the factoring firm a warranted asset of money to include in the list and it gives the trucking business the needed funds that they sweated to earn.

 

The trucking enterprise presents their accounts to the factoring firm. The trucking factoring business then receive the installment payments from the trucking company's customers. Factoring has beenaround for hundreds of years and has been adopted for decades by numerous different sectors-- but none exceeding so than truckers. While you could lose out on a small part of the money, something like 1-3 % depending upon who you team up with, it indicates that you are acquiring the cash today and can actually start setting the cash to function.

 

After all, an IOU or an invoice is certainly not going to finance expenses, is it? For trucking establishments when the resources can be fantastic one day and gone the next, it's up to the vehicle drivers to work smartly and to ensure they are leaving themselves with a substantial amount of time and money to get through the week until they are paid again.

 

So the next time your trucking enterprise is having some momentary capital challenges and you are putting in an excessive amount of time chasing inactive paying customers, why not start looking into employing a factoring companies as a way to get your finances and give yourself a more comfortable future in the eyes of your trucking personnel and your bank dividend?

 

 

 

 

 

 

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Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. While these loans are handy they are not available to every business. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. 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 give loans, and the money you get from the Trucking Factoring company does not put you in debt. 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. You Won't Incur Debt. You don't 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 won't affect either your business credit rating or your personal credit rating. Should the unforeseeable happen and your business fails, you won't have to worry about anyone coming after your personal as well as your business assets 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. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This means that it's easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.

 

3. You'll receive the money faster. Using a Trucking Factoring company means that you'll get the finance quicker. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.

 

4.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 don't 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 don't have to worry about monthly loan repayments, and you don't have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The most important benefits is that once you sell your accounts receivable to the factory company, you don't have to take time away from running your business to collect the money owed from reluctant to pay customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

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

 

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Invoice Factoring Companies by City

New York City
Los Angeles
Chicago
Houston
Philadelphia
Phoenix
San Antonio
San Diego
Dallas
San Jose

Austin
Jacksonville
Indianapolis
San Francisco
Columbus
Fort Worth
Charlotte
Detroit
El Paso
Memphis

Boston
Seattle
Denver
Washington DC
Nashville-Davidson
Baltimore
Louisville/Jefferson
Portland
Oklahoma City
Milwaukee

Las Vegas
Albuquerque
Tucson
Fresno
Sacramento
Long Beach
Kansas City
Mesa
Virginia Beach
Atlanta

Colorado Springs
Raleigh
Omaha
Miami
Oakland
Tulsa
Minneapolis
Cleveland
Wichita
Arlington

New Orleans
Bakersfield
Tampa
Honolulu
Anaheim
Aurora
Santa Ana
St. Louis
Riverside
Corpus Christi

Pittsburgh
Lexington Fayette
Anchorage
Stockton
Cincinnati
St. Paul
Toledo
Newark
Greensboro
Plano

Henderson
Lincoln
Buffalo
Fort Wayne
Jersey
Chula Vista
Orlando
St. Petersburg
Norfolk
Chandler

Laredo
Madison
Durham
Lubbock
Winston Salem
Garland
Glendale
Hialeah
Reno
Baton Rouge

Irvine
Chesapeake
Irving
Scottsdale
North Las Vegas
Fremont
Gilbert town
San Bernardino
Boise
Birmingham
Rochester
Richmond
Spokane
Des Moines