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How I Improved My Profits in One Evening - Our Accounts Receivable Factoring Company Can Provide
Your Truck Company The Cash You Want

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Medium-Size freight brokerage companies, particularly those who have actually not been in existence for extremely long, will commonly discover it difficult to protect a loan. Banks are typically reluctant to lend cash to businesses that do not have a great deal of earnings and properties. They likewise desire evidence of the practicality of a company and thus need that many operations, specifically small ones, been around for a particular amount of time prior to they are eager to hand over any money. Because of this, a medium-size company typically has few cash producing options when needs emerge. One option offered, however typically neglected, is invoice factoring. This is an exceptional means for a small business to acquire cash.

 

 

 

 

 

 

 

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

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

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

Cash flow does not have to be an issue any ever more. Do not be fooled -- banks are not the only locations you can get financing. Other solutions are available and you do not have to borrow. Exactly what is trucking factoring ? One option is called trucking factoring. Trucking Factoring is the process of selling invoices to a financier rather than waiting to gather the money from the customer. Oh, the Irony- Truck factoring has a paradoxical difference: It is the monetary backbone of many of America's most successful companies. Why is this paradoxical ? Since trucking factoring is not taught in business colleges, is seldom mentioned in company plans and is fairly unknown to bulk of most of American company individuals.

Yet it is a monetary procedure that frees billions of dollars every year, enabling thousands of companies to grow and prosper. Receivable Financing has been around for countless years. Receivable Financing Companies are investors who pay money for the right to receive the future payments on your invoices. An overdue receivable or invoice has value. It is a financial obligation your client has agreed pay in the near future. Factoring Principals--Although factoring deals solely with business-to-business transactions, a big portion of the retail business uses a factoring principal. MasterCard, Visa, and American Express all utilize a type of factoring in their retail transactions. Utilizing the purest definition of the word, these large consumer finance companies are truly just big Truck Factoring Businesses of customer paper. Consider it: You make a purchase at Sears and charge it to your MasterCard. The shop makes money practically immediately, even though you do not make payment until you are prepared.

For this service, the charge card company charges Sears a fee (typical common normal fees vary from 2 to 4 percent of the sale). The Advantages Staffing Factoring can offer many advantages to cash-hungry companies. Instead of waiting 30, 60, 90 days or longer for payment on a product that has actually currently been delivered, a company can factor (sell) its receivables for money at a little discount off the dollar value of the invoice. Payroll, marketing efforts, and working capital are simply a few of the business needs that can be met with instant  money.

Factoring offers the means for a manufacturer to replenish inventory and make even 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 tool for manufacturers: Practically any type company can benefit from Receivable Loan Funding. Generally, a business that extends credit will have 10 to 20 percent of its annual sales bound in invoices at any given time. Think for a minute about exactly how much is bound in 60 days' worth of invoices: You can not pay the power expense or this week s payroll with a client s invoice, however you can offer that invoice for the money to satisfy those obligations. Using trucking factoring companies is a fast and simple procedure. The factoring company purchases the invoice at a price cut, typically a couple of portion points less than the stated value of the invoice.

 

 

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columbus-factoring-companies

 

The United states Transportation Association
states that there around
195,000 truck drivers with transportation
firms and
276,000 personal providers trucking
firms accredited to
operate in the United States that transferred,
according to their latest listings of millions of
items, materials and
basic products .
There are a number of common
carriers either going solo or in
groups on our nation
roads transporting these
important products to our
shops, factories and ports.

Also freight bill factoring
companies service
numerous of them and offer their
receivables financing facilities
countrywideincluding
including the following states.

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

 

 

"

Columbus has a generally strong and diverse economy based on education, insurance, banking, fashion, defense, aviation, food, logistics, steel, energy, medical research, health care, hospitality, retail, and technology. Overall, it was ranked as one of the top 10 best big cities in the country in 2010, according to Relocate America, a real estate research firm. ranked Columbus and its metro area as the No. 7 best place in the country to operate a business in 2008. In 2012, Magazine ranked the city as the best city for working moms. In 2007, the city was ranked No. 3 in the United States by fDi magazine for ""Cities of the Future"", and No. 4 for most business-friendly in the country. Columbus was ranked as the seventh strongest economy in the United States in 2006, and the best in Ohio, according to Corp. In 2011, the Columbus metropolitan area's GDP was $94.7 billion, up from $90 billion in 2009, up from $85.5 billion in 2006, $75.43 billion in 2005, and $69.98 billion in 2001. SERS building, downtownDuring the recession beginning in late 2007, Columbus' economy was not impacted as much as the rest of the country, due to decades of diversification work by long-time corporate residents, business leaders, and political leaders. The current administration of mayor has continued this work, although the city faced financial turmoil and had to increase taxes, due in part to alleged fiscal mismanagement. Because Columbus is the state capital, there is a large government presence in the city. Including city, county, state, and federal employers, government jobs provide the largest single source of employment within Columbus.In 2013, the city had four corporations named to the U.S. Fortune 500 list: located in suburban Dublin. Other major employers in the area include numerous schools (for example, The Ohio State University) and hospitals, hi-tech research and development including the in Columbus. Major foreign corporations operating or with divisions in the city include .

 

"

 

 

 

View Our Factoring YouTube Video For More Information

 

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

If you're like most drivers, you're looking for a better company in trucking that might be offering the best jobs in terms of pay, freight, and hometime ' not to mention benefits or a sign on bonus. We've got all of our clients listed based on the states where they're hiring, so you can quickly find the best job in your home state. You'll see the very best nationwide trucking companies that have positions available.

 

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

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

 

If you're like most drivers, you're looking for a better company in trucking that might be offering the best jobs in terms of pay, freight, and hometime ' not to mention benefits or a sign on bonus. We've got all of our clients listed based on the states where they're hiring, so you can quickly find the best job in your home state. You'll see the very best nationwide trucking companies that have positions available.

 

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

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

 

Click below to find Trucking Companies in the United States:

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

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

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

 

 

"

Since the mid 1980s Morales Truck & Haul have been successfully running their freight business. 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 Morales 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. The money was flowing, and times were great.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed down. Worse still, it was noticed by Morales 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, Eddie Schmidt, CEO of Morales felt a chill go down his spine whenever he would look at the weekly A/R reports. There was a growing list of clients who now owed them back debt.He had already been to the administrators to ask what the actual problem was. Were they doing things different, or wrong, when it came to collecting overdue accounts? When checking his bookkeeper's records this was definitely not the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. 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 Eddie Schmidt. Eddie was very concerned, because there were constant overheads, goods to ship, employees to pay, and trucks which needed to be maintained, but there just wasn't the money coming back into the business. After work he would confide in his wife, Anita, 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.""Well, what do you think it is?"" she would say.Eddie 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 somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. What on earth was happening to create the death of his business?""I know what it is,"" Eddie said. ""For way too long I've been relying solely on profits received from invoices. For too long I've been allowing our clients to let their accounts become overdue."" Linda could only grab her husband's hand and look at him lovingly, ""it is a hard economy. It might be awhile until things get settled up.

 

""Anita was trying so hard to support her husband in these worrying times, while Eddie was weighed down with the worry of how he was going to handle this situation he found himself in.The next day Eddie strolled into his office and was determined to sit down and make every phone call to every client who had owed Morales money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Eddie 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. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. A waste of time - a waste of money - he had the best intentions, but all the while Eddie was realising just how much trouble he was in.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 Joerley knocked at his door.

 

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

 

""Sure thing Jo, come on in."" Eddie leaned back in his chair and looked expectantly at Joerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Eddie."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard the word factoring?"" she asked.""It does sound vaguely familiar. What is it?"" he said.She began, ""Well, it is really very simple. So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Eddie interrupted ""Immediately?"".""Immediately, yes"" she added, ""it is actually very simple. We start by having a professional account manager review our figures and help us set up a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It provides a very broad view.""Eddie 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. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

This company tells us what the cost will be to purchase factoring for our accounts receivable. The funding commences once we�ve arrived at an agreement.�Eddie leaned forward and reviewed the paperwork closely.""I do not know, Jo - it just sounds too good to be true"", Eddie said quietly.""Yes, I know; that's exactly what I thought at the beginning. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. They appear to be very flexible, Eddie,"" she underlined a paragraph on the paper before him.""How flexible?"" asked Eddie.""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. Apparently they can figure this all out in two to four days.

 

""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. 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,"" Eddie said.Eddie took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Precisely�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Eddie took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Morales Truck & Haul were professional resources of the company, but they were also long-standing friends. Eddie wasn't prepared to lose these relationships just because they were having financial issues at the moment. Eddie knew only too well that the whole economy was floundering, and that it was not going to change overnight. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. He did not want to lose business but he also did not want to lose any more money.""Well, let me think about this tonight Jo, thank you."" Jo nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Eddie 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 Morales 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. Eddie was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Eddie was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""I must tell Lance the good news,"" muttered Eddie to himself.Lance is Eddie's son-in-law, and he really admired the ideas behind Morales, so much so that only two years before he had started his own transportation service business. Eddie knew then what struggles Lance would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Morales was struggling then the little guys, like Lance, were going to be in even more trouble. But, an antidote may have been found in freight factoring and Eddie was soon to find out.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Eddie was beginning to find his way out of the hole his debtors had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They used that time to refocus their efforts in being competitive in new territories. Eddie looked back on the dismal months of life before freight factoring and almost shuddered at the thought. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

 

More Trucking Factoring Companies Story Articles

"

The Future of a Trucking Company, and Factoring The phone was ringing on his desk, and Brad Howell just sat there letting it ring. He let his morning coffee cool and left his cigarette to ash itself in the tray, because he is trying to make the biggest decision ever for his trucking company. Howell Trucking Company was at a turning point of growth and Brad had to decide if signing with a factoring company was the right way forward.

 

Brad�s father had started as an owner-operator and had grown Howell Trucking Company into a fifteen trailer fleet over forty years. There had been some hard times when it seemed everything was going to go under and even Brad�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 Brad�s hands and he wanted to live to see it in better shape for his sons.

 

To move Howell 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 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. He knew that turning down these requests made Howell Trucking look inefficient and weak in what was currently a strong market.

 

His father would have told him to wait and to take his time adding on new technology. Brad chuckled, thinking about his father. 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.

 

Brad knew he was right in his forward thinking. How would he take Howell Trucking to the next level? More importantly, how could he afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

But was factoring the answer? If he was being honest, he did not 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. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. 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.

 

Brad had to really consider what his next step was going to be. Brad had heard that there were companies that charged for same day money transfers and would only advance a percentage of the money owed to your company while holding the rest in a private account if they didn�t get their bill payment within 60 or so days. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His 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?

 

However, it all turned out to be very simple. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He was quite happy to sign an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he 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. Many companies offered a non-recourse factoring program that suited him just fine. 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 Brad 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 Brad 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 Howell 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.

 

Brad 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, Brad could actually expand Howell 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.

 

"

 

 

 

 

 

 

 

Factoring In Finance

 

Factoring For Small Businesses

 

 

 

View Our Freight Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So, this is not a loan?� Eric Powell asked as he leaned back in his chair, crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she stated.Eric was the owner of a small trucking company which had fallen on some hard times recently. Trucking could be a profitable business, and for a little under a decade, it had been for Marshall. He named his business Gomez Trucking, named after Barry and Ted, his two grandfathers. They had both been hardworking men, and had done a lot to make Eric the same.Six months ago disaster struck Marshall's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. Eric 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 Eric had on hand.A big problem a lot of trucking companies came across was how bills were paid in the industry. Waiting a month or longer for bills to be paid was quite normal. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Eric 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.That�s where the woman across the desk came in. Eric knew she was employed by a Factoring company and that her name was Nancy. He had accidentally come across her company one night when he was working late, searching the internet to see if there was some solution to his financial dilemma.Nancy explained. �it is really not a loan at all: we actually buy 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. This is a win-win situation: we are protected from a total loss, and you're protected from the ridiculous fees and charges you'd have to pay if you borrowed from a bank.Eric nodded. It sounded perfect - perhaps too good?.The woman laughed. �You look like you don�t believe me,� she chuckled.�No, I do, I just think it sounds a bit too good to be true. I actually thought I might end up losing my business.�Nancy smiled, agreeing. �Yes, we get a lot of that. Listen, I�d hate to see you lose your company. You work hard, you�ve put everything you can into it. 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,� said Nancy with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Eric filled the form out, with Nancy available to help him if he needed it. The profile filled Nancy and her company in on Marshall�s company, and would help them determine if he was suitable for factoring. In truth, not all companies were. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. As Eric completed his form, Nancy listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Nancy took it and slid it into her briefcase. She then stood, reached across the desk and shook Marshall�s hand. He also stood up, and they smiled at each other. They said their goodbyes and Eric walked her to the door, and then returned to his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He 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 Nancy and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.The long nights, where he couldn�t sleep. The terrifying panic attacks that occurred regardless of where he was. He could feel it all fading away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was there, he was on the right path, and he was working to make things right.His mind wandered back to the very beginning, when he first started his business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been successful. Offering home cooking in his own hometown, his business had really prospered.But it wasn't what he really wanted to do. His passion didn�t lie with 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 Gomez Trucking. And that's exactly what he did. For the second time in his short life he created a company from the ground up. He had been successful.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was nearing fifty. He was concerned that he just did not have the energy left to try and save the business. But he couldn�t give up. Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He did not want to quit - both for himself and for his staff members.And now, because of factoring, he was sure he wouldn�t have to. Eric opened his eyes, sat forward, turned his computer on. 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.

 

"

 

 

 

More Trucking Factoring Company Story Articles

The reason why Truck Establishments Use Factoring Companies.

 

As the manager of your own company, you may perhaps be more than conscious already of the difficulty in making sure that capital issues do not become a problem down the line. Anyway, the most awful thing that can in all probability transpire for your enterprise is to find yourself swept up in a long and troublesome predicament that leaves you forever trying to find the funds you require on an continual basis.

 

For any type of business enterprise in this situation, the problem can come for waiting for work to lapse and actually be compensated into your statement. Invoices, checks, and the like could take a while to actually to beprocessed which may leave you with short-term available resources difficulties. Luckily, there are options out there for establishments to explore-- and just one of these is factoring providers.

 

Factoring companies will, in substitution for your statements, offer you with the funds immediately so you do not have to worry about the lingering duration that could make paying off the bills and getting toolsmore difficult. With this type of setup, invoice factoring can end up being extremely practical for various companies who need to avoid a money pitfall which they have discovered themselves in.

 

Considering that, depending upon the volume of the task, it can take up to 60 days for several businesses to get compensated then it is significant to cover your own back and not leave yourself funds short to settle the bills. After all, how many business enterprises possess two months earnings just occupying there to cover all their expenditures till they get paid?

 

This is particularly correct of trucking establishments. They generally deal with lots of statements which means a considerable volume of collection time concerns company owner themselves. Striving to get paid out promptly can develop into an extraordinary struggle and this is exactly why you make use of truck factoring firms who are glad to help out truckers primarily.

 

As all of us recognize, trucking is an astonishingly big business with countless firms out there working with hundreds of operators. Unfortunately, several of these drivers end up in income dilemmas simply because they are still awaiting work from six weeks in the past to actually compensate them. When this is the scenario for a truck business, consulting factoring firms for help could be the most effective option left.

 

This indicates that a trucking company can compensate the salaries of the workers, keep all the trucks loaded with gas and continue to escalate, develop and expand without continually waiting for the funds which is taking too lengthy to come in. Trucking Establishments working without a factoring program used are leaving themselves at critical danger, as competitions cash out promptly and carry on to expand.

 

There's honestly almost nothing to be stressed about when it comes to making use of a Factoring agency-- they are not like a financial institution or an individual who is going to leave you with a huge mound of personal debt to repay. You give them genuine invoices from work you have already finished , you are just quickening the repayment system.

 

In the United states of America, where truck firms flourish, factoring companies are not considered accepting loan of in any capacity. This confidential arrangement then lets both groups to profit and delight in a good future-- it provides the factoring provider a warranted resource of revenue to put into the list and it gives the trucking company the required cash that they worked hard to acquire.

 

The trucking establishment bestows their accounts to the factoring business. The trucking factoring agency then collect the installment payments from the trucking company's clients. Factoring has been in existence for centuries and has been used for long times by many varied fields-- but none much more so than truckers. While you could miss out on a small part of the money, something like 1-3 % depending on who you partner with, it means that you are acquiring the finances today and can actually begin setting the cash to do work.

 

Anyway, an IOU or an invoice is not actually going to pay for expenditures, is it? For trucking firms when the funds can be fantastic one day and gone the next, it is up to the vehicle drivers to work prudently and to make sure they are leaving themselves with a considerable quantity of time and finance to get through the week until they are handed over once again.

 

So the next time your trucking company is enduring some temporary capital troubles and you are investing excessive time chasing slowly paying clients, why not start thinking of using a factoring companies as a way to get your cash and give yourself a more worry-free 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. 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. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of 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?

 

While not every business can take advantage of Trucking Factoring account financing (you have to have a business that has account receivables) for those that can use this type of financing there are several distinct benefits.

 

1. You will not Incur Debt. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. There's no collateral required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. 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 is easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.

 

3. You'll receive the money faster. With a Trucking Factoring company you can actually get the money you need faster. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. 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. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you do not have to continue to pay interest as they take it right off the top, deducting it from the total amount of accounts receivable. So not only are you relieved of those monthly loan payments, but you also do not have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. 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 do not have to take time away from running your business to collect the money owed from reluctant to pay customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very 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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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