Contact Us Form

or Call Us At 866-593-2195

Email Us

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home page

The Most Expensive Mistake of Your Life -
Our Factoring Financing
Can Provide
Your Truck Company
The Money You Want

 

 

trucking factoring

factoring for trucking companies

trucking factoring companies reviews

trucking invoice factoring companies

Using a Truck Factoring Company is useful for numerous reasons. It allows a trucking company to raise money without acquiring brand-new financial obligation. While debt is sometimes needed, a lot of freight broker firm would prefer to raise cash without borrowing money. Debt is high-risk, and when it can not be repaid, properties can be repossessed. If the financial obligation is huge enough, it could even require a truck businesses out of business.

How To Rob Banks Legally - Pick 

The Best Factoring Company Instead Of A Regular Bank Financing

How to Increase Cash Flow Without Borrowing -Cash Money flow is among the main reasons businesses fail.

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

Cash flow does not have to be a problem any ever more. Do not be fooled -- banks are not the only locations you can get financing. Other options are offered and you do not have to borrow money. Exactly what is truck factoring ? One solution is called factoring financing. Trucking Factoring is the procedure of offering accounts receivable to an investor instead of waiting to gather the cash from the customer. Oh, the Irony- Trucking factoring has an ironic distinction: It is the financial foundation of many of America's most effective businesses. Why is this paradoxical ? Because commercial factoring is not taught in business colleges, is seldom mentioned in company strategies and is relatively unidentified to the majority of most of American business people.

Yet it is a financial process that frees billions of dollars every year, allowing thousands of companies to grow and succeed. Receivable Loan Financing has actually been around for thousands of years. Truck Factoring Companies are financiers who pay money for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a debt your client has actually agreed pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business transactions, a large percentage of the retail company uses a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail transactions. Utilizing the purest definition of the word, these large consumer finance companies are truly just large Invoice Factoring Companies of customer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The store makes money almost immediately, although you do not make payment until you are ready.

For this service, the charge card business charges Sears a fee (typical common normal charges range from two to 4 percent of the sale). The Advantages Receivable Financing can provide numerous advantages to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on a product that has actually currently been delivered, a business can factor (sell) its receivables for money at a little discount off the dollar value of the invoice. Payroll, advertising efforts, and working capital are simply a few of the business needs that can be satisfied with instant  money.

Factoring Financing offers the ways for a producer to renew stock and make more products to sell: There is no longer a requirement to wait for earlier sales to be paid. Receivable Loan Financing is not simply a cash management tool for manufacturers: Practically any type business can benefit from Factoring. Generally, a company that extends credit will have 10 to 20 percent of its yearly sales bound in accounts receivable at any given time. Think for a minute about how much is tied up in 60 days' worth of invoices: You can not pay the power expense or this week s payroll with a client s invoice, however you can offer that invoice for the cash to satisfy those obligations. Using truck factoring companies is a fast and simple procedure. The factor buys the invoice at a discount, typically a couple of percentage points less than the face value of the invoice.

 

 

Please call our
freight bill factoring experts at
1 - 888-239-9162
or

E-mail Us


or complete the
OnLine


Trucking Factoring Request Kind

 

The United states Truck Organization
states that there around
200,000 workers with truck
companies and
276,000 personal providers trucking
companies accredited to
operate in the U.S. that carried,
according to their newest listings of millions of
products, materials and
fundamental products .
There are numerous common
providers either going solo or in
groups on our country
highways transferring these
crucial items to our
shops, manufacturing facilities and ports.

Andfreight bill factoring
companies support
several of them and offer their
accounts receivablesfinancing facilities
nationally 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

factoring-financing

 

View Our Trucking Factoring Companies YouTube Videos For More Information

 

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

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

 

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

 

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

 

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.

 

"

Foster Truck & Haul have been operating their business since the mid 1980s. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the heady times from 2002 to 2007, Foster was a top rated accounts receivable mastermind of the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. Cash was flowing and times were good for all.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed down. Worse still, it was noticed by Foster in early 2008 that even though most of their loyal customers were on time with their payments, there were a few late bloomers who were starting to spread the disease. Spring changed to summer, summer changed to fall, and the CEO of Foster, Clarence Graham, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The numbers of clients who owed him back debt were growing.He had already been to the administrators to ask what the actual problem was. Were they doing something wrong or different when it came to reaching out to delinquent accounts? By his bookkeepers records, this wasn't the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. They 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. The had just gone!.To Clarence Graham the situation looked desperate. 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, Phyllis, and neither were unable to stop the constant worry over the lack of funds.""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would say.Clarence would stare off into the distance, and then slowly close his eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them traveling, bringing goods to all of his clients. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. What could cause this ultimate death spiral of business?""I think I know what it could be,"" Clarence 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."" All Phyllis could do was hold his hand and look at him tenderly. 'We know it's a difficult economy at the moment - perhaps it will take a while for people to get on top of their bills'.""Clarence knew very well that Phyllis 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 next day Clarence strolled into his office and was determined to sit down and make every phone call to every client who had owed Foster money. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. Wasting money, wasting time - even with the best of intentions, Clarence knew that he was in trouble.

 

Poor Clarence 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.

 

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

 

""Sure thing Virginia, come on in."" Clarence leaned back in his chair and looked expectantly at Virginiaerely.""Well Clarence, this afternoon I did some research, trying to work out how we're going to get out of this mess."" 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 of factoring?"" Virginiaerley asked.""It does sound vaguely familiar. What is it?"" he said.""Well,"" she began, ""It�s actually quite simple really.

 

So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Clarence interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""In a nutshell, it's pretty easy. We start by having a professional account manager review our figures and help us set up a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It provides a very broad view.��Clarence 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. The company will advise us the cost to purchase factoring for our company's accounts receivable. We come to an agreement and the funding starts pouring out.�Clarence was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""I don't know, Virginia - it just sounds too good to be true"", Clarence 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, Clarence,"" she drew a circle around a paragraph on the document before him.""How flexible?"" asked Clarence.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. 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,"" Clarence said.Clarence took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. I think this might just be a way out of the trouble we're in with these folks who owe us money.""Clarence took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Foster Truck & Haul were professional resources of the company, but they were also long-standing friends. They didn't want to throw away these relationships because they were having trouble paying their bills now. Clarence knew only too well that the whole economy was floundering, and that it was not going to change overnight. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. He didn't want to lose business but he also didn't want to lose any more money.""Let me go over this tonight Virginia, and thankyou."" Virginia stood up and left Clarence's office, with the nice feeling of knowing that she may just have solved a very serious problem.Clarence stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. He wondered if there might be other problems freight factoring could help Foster Truck & Haul with? Running his pencil down the sheet, he noted that the freight factoring company could assist with fuel costs, fuel advances, and fuel discount cards. Clarence was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Clarence was a typical business man: he despised binding contracts that didn't allow room to breathe, so he was pleasantly surprised to see that the factoring company didn't require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""I must tell Joseph the good news,"" Clarence muttered to himself.Joseph is Clarence's son-in-law, and he really admired the ideas behind Foster, so much so that only two years before he had started his own transportation service business. At that time Clarence knew the struggles Joseph would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Foster was struggling then the little guys, like Joseph, were going to be in even more trouble.

 

But, maybe the answer for both of them was in freight factoring, and Clarence was going to find out very soon.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Clarence 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. Clarence looked back on the dismal months of life before freight factoring and almost shuddered at the thought. If Clarence hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

 

More Trucking Factoring Companies Story Articles

Factoring in the Future of a Trucking Business: A Story The phone was ringing on his desk, and Willie Rivera 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. Rivera Trucking Company was at a turning point of growth and Willie had to decide if signing with a factoring company was the right way forward.

 

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

 

There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. He had employees to pay. They had families and household bills too. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. Every time he had to turn down a request, Rivera Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Willie allowed himself a good hard chuckle. His father had been against placing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. His father days were long gone and technology was actually an important improvement for the business such as having Qualcomm to cut down on fruitless time communicating on the phone for bills of lading.

 

Willie knew he was right in his forward thinking. How would he take Rivera Trucking to the next level? And how would he be able to afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. 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 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 the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Willie had to really consider what his next step was going to be. Willie 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?

 

But it turned out to be quite easy. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He didn�t mind signing an exclusive contract. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the 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 Willie it was quite a relief to be dealing with the factoring company. They were more personable than those loan managers at the bank. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar for a handout. The factoring companies were not interested in his credit nor the financial problems his father had experienced in the past. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Willie 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 Rivera 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.

 

Willie 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. He suddenly realized that, with this new cash flow, he could actually expand Rivera Trucking Company and who knows, move into Canada, which had always been his dream. 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.

 

 

 

Watch Our Truck Factoring Videos For More Information

 

 

 

 

 

 

 

 

 

Trucking Factoring  Articles

�So It is not a loan?� Chad Andrews 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.Chad was the owner of a small trucking company which had fallen on some hard times recently. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Joshua. His company was called Meyer Trucking, named after both of his grandfathers, Chad and Kyle. They had both been hardworking men, and had done a lot to make Chad the same.Six months ago disaster struck Joshua's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. Chad 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 Chad 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.Chad 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.That�s where the woman across the desk came in. Her name was Rita and she worked for a factoring company. 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.She sat there now, and explained. �it is really not a loan at all: we actually buy your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. This is a win-win situation: we're 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.Chad agreed. It sounded good to him, almost too good.The woman laughed. �I'm not sure that you believe me,� she chuckled.�Oh no, I do: it just sounds too good to be true. I thought I was going to lose my company.�Rita nodded. �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 what we�re here for.��Well, I'm very grateful that you came to see me today.��It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� Rita said with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Chad completed the form, with Rita offering advice as needed.

 

The profile filled Rita and her company in on Joshua�s company, and would help them determine if he was suitable for factoring. Unfortunately, not all companies are. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. Listening as Chad filled out his form, Rita was pretty sure he was a perfect candidate for factoring.When the form was done Rita took it and slid it into her briefcase. She then stood, reached across the desk and shook Joshua�s hand. He stood before they shook as well, and then smiled. They said their goodbyes and Chad walked her to the door, and then returned to his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He leaned back and closed his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. But now, after speaking to Rita 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.All those long, sleepless nights. 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.Chad couldn�t help but think back to when he had first started the business. At twenty-two and straight out of school he had opened a restaurant. 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 Meyer 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.And then the trucks went down, and his success looked to be in flux. He was nearing fifty. He was concerned that he just didn't have the energy left to try and save the business. But he couldn�t give up. Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He didn't 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. Joshua's eyes opened, he sat forward in his chair and turned on his computer. He had things to do. He could be thankful later, for now, it was time to work.

 

 

 

 

More Trucking Factoring Company Story Articles

Why Truck Agencies Utilize Factoring Firms.

 

As the owner of your own business, you may likely be much more than knowledgeable already of the hardship in making sure that cash flow matters do not become a dilemma down the line. After all, the toughest thing that can potentially transpire for your company is to find yourself embroiled in a long and troublesome condition that leaves you forever trying to find the funds you are in need of on an ongoing manner.

 

For virtually any enterprise in this situation, the problem can come for waiting for work to clear up and actually be brought in into your balance. Bill of sales, checks, and the like could take a while to actually to beprocessed which could leave you with momentary available resources dilemmas. Fortunately, there are options out there for enterprises to investigate-- and among these is factoring firms.

 

Factoring companies will, in exchange for your accounts, give you with the finances right away so you don't need to worry about the lingering phase that could make paying the bills and getting materialsmore challenging. With this kind of arrangement, invoice factoring can become exceptionally helpful for numerous establishments who have to avoid a cash trap which they have found themselves in.

 

Due to the fact that, relying on the scale of the job, it can take up to 60 days for many firms to get compensated then it's critical to cover up your own back and definitely not leave yourself resources short to pay off the expenses. After all, how many enterprises have two months revenue just occupying there to cover all their expenditures until they make money?

 

This is primarily true of trucking establishments. They usually take care of tons of invoices which means a significant quantity of collection period involves business owner themselves. Trying to get paid out promptly can end up being an unbelievable hassle and this is precisely why you utilize trucking factoring companies who are happy to help out truckers mainly.

 

As all of us realize, trucking is an surprisingly enormous market with a lot of agencies out there hiring hundreds of drivers. The sad thing is, plenty of these drivers end up in money problems considering that they are still waiting for work from six weeks ago to actually pay them. When this is the condition for a trucking firm, resorting to factoring companies for support may be the very best choice left.

 

This indicates that a truck firm can compensate the paychecks of the people, keep all the cars filled with gas and continue to go up, evolve and expand without continually waiting for the funds which is taking too lengthy to come in. Trucking Companies functioning without a factoring program used are leaving themselves at substantial threat, as competitions cash out quickly and carry on to broaden.

 

There's genuinely very little to be worried about when it comes to employing a Factoring agency-- they commonly are not like a banking company or an individual who is going to leave you with a significant pile of debt to pay back. You give them genuine invoices from output you have already accomplished , you are merely facilitating the payment system.

 

In the Usa, where trucking companies do well, factoring providers are not considered getting a loan in any capacity. This confidential agreement then makes it possible for both groups to make money and experience a convenient future-- it provides the factoring provider a secured resource of earnings to add to the list and it offers the trucking firm the required money that they sweated to generate.

 

The trucking enterprise gives their invoices to the factoring business. The trucking factoring firm then acquire the installment payments from the trucking company's customers. Factoring has been all around for hundreds of years and has been utilized for decades by lots of varied business sectors-- but none exceeding so than truckers. While you may well lose out on a small part of the money, something like 1-3 % depending on who you team up with, it signifies that you are receiving the finances today and can actually begin putting the funds to perform.

 

After all, an IOU or an invoice is not going to fund bills, is it? For trucking firms when the cash can be fantastic one day and gone the next, it's up to the drivers to work smartly and to ensure they are leaving themselves with a significant quantity of time and finance to get through the week until they are handed over once more.

 

So the next period your trucking enterprise is enduring some short-term cash flow issues and you are devoting a lot of time chasing slow paying clients, why not start thinking of making use of a factoring companies as a means to get your money and give yourself a more convenient future in the eyes of your trucking team and your bank balance?

 

 

 

 

 

 

"

Traditional Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. These loans can be a life-saver, but they're not always available to every business. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it's usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Once the loan is paid off, you can then apply for another loan if the need arises.

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies don't offer loans, and you don't go into debt when you get money from a Trucking Factoring company. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to 'sell.' Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

Benefits of a Trucking Factoring Company Vs. A 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 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. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating won't be affected. 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. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

2. No Collateral Required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you aren't required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This means that it'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. Receive Your 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. 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.You receive interest up-front. With a bank loan interest continues to build, and this has to be paid the whole time you have a business loan; however with a Trucking Factoring company there is no interest - they take it right off the top by deducting it from the total amount of receivable accounts. So not only are you relieved of those monthly loan payments, but you also don't 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 from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

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

 

"

 

 

Accounts Receivable Buyers

 

Accounts Receivable Factor

 

Accounts Receivable Factoring

 

Accounts Receivable Factoring Companies

 

Accounts Receivable Factoring Rates

 

Accounts Receivable Financing

 

Accounts Receivable Financing Companies

 

Accounts Receivable Financing Rates

 

Accounts Receivable Lending

 

Accounts Receivable Loans

 

Best Factoring Companies

 

Best Factoring Companies For Freight Brokers

 

Best Freight Factoring Companies

 

Best Invoice Factoring Company

 

Best Rated Factoring Companies

 

Best Truck Factoring Companies

 

Best Trucking Factoring Company

 

Business Accounts Receivable Loans

 

Buy Accounts Receivable

 

Buy Receivables

 

Factoring Business

 

Factoring Companies Brokers

 

Factoring Companies For Freight Brokers

 

Factoring Companies For Small Businesses

 

Factoring Companies Reviews

 

Factoring Companies Truckers

 

Factoring Companies Used By Trucking Companies

 

Factoring Company

 

Factoring Company Rates

 

Factoring Financing

 

Factoring Loan

 

Factoring Loans

 

Factoring Receivables Companies

 

Factoring Services

 

Factoring Services For Trucking Companies

 

Factoring Small Business

 

Find The Best Factoring Companies

 

Freight Bill Factoring

 

Freight Bill Factoring Companies

 

Freight Broker Factoring Companies

 

 

 

Freight Factoring Companies

 

Freight Factoring Company

 

Freight Factoring Services

 

Freight Invoice Factoring

 

Invoice Factoring Companies

 

Invoice Factoring Rates

 

Invoice Factoring Reviews

 

Invoice Factoring Services

 

Largest Factoring Companies

 

List Of Factoring Companies

 

Medical Factoring Companies

 

Medical Staffing Factoring

 

Oilfield Services Factoring Companies

 

Oilfield Factoring Companies

 

Oilfield Services Factoring

 

Receivable Factoring

 

Receivable Factoring Companies

 

Receivable Factoring Rates

 

Receivable Loan

 

Receivables Factoring

 

Receivables Factoring Companies

 

Receivables Factoring Rates

 

Receivables Factoring With Recourse

 

Reviews The Best Factoring Company For Trucking

 

Sale Of Accounts Receivable

 

Sale Receivables

 

Sell Account Receivables

 

Sell Receivables

 

Sell Your Accounts Receivable

 

Staffing Factoring

 

Staffing Factoring Company

 

Staffing Factoring Companies

 

Top Factoring Companies

 

Top Invoice Factoring Companies

 

Top Rated Factoring Companies

 

Transportation Factoring

 

Transportation Factoring Trucking

 

Truck Factoring Companies

 

Trucker Factoring

 

Trucking Factoring Companies