Contact Us Form



Email

1-800-986-1854

Our Invoice Factoring Video
Shows You The Benefits
That You Get  By Working
With Our Company

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home page

Only Companies with imagination can take it -
Our Accounts Receivable Factor
Can Provide
Your Freight Company
The Cash You Want

 

and freight-factoring-companies.factoringfortruckingcompany.com.

factoring for trucking companies

best trucking factoring company

factoring trucking business

trucking factoring companies reviews

Medium-Size trucking companies, particularly those who have not been in existence for extremely long, will typically discover it difficult to secure a loan. Banks are typically reluctant to lend cash to companies that do not have a lot of income and assets. They also desire evidence of the viability of a company and thus need that the majority of operations, particularly little ones, be in business for a particular amount of time prior to they want to hand over any money. Due to the fact that of this, a small business frequently has few cash generating options when requires occur. One option offered, but frequently neglected, is factoring. This is an outstanding way for a small business to obtain cash.

How To Burn Off Receivables, Hour-by-Hour - Select 

The Best Factoring Company Instead Of A Typical Bank Financing

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

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

Cash flow does not have to be an issue any more. Do not be deceived -- banks are not the only locations you can get funding. Other options are offered and you do not have to borrow. Exactly what is trucking factoring ? One solution is called accounts receivable factor. Truck Factoring is the procedure of offering accounts receivable to an investor rather than waiting to gather the cash from the client. Oh, the Irony- Truck factoring has a paradoxical distinction: It is the financial backbone of numerous of America's most effective companies. Why is this paradoxical ? Because staffing factoring is not instructed in business colleges, is rarely discussed in company strategies and is relatively unidentified to bulk of most of American company individuals.

Yet it is a monetary procedure that frees billions of dollars every year, allowing countless companies to grow and succeed. FACTORING has been around for countless years. Trucking Factoring Companies are financiers who pay cash for the right to get the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your customer has actually to pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business transactions, a large percentage of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail transactions. Utilizing the purest definition of the word, these large customer finance companies are really just large Receivable Financing Businesses of consumer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The store gets paid practically immediately, although you do not pay until you are prepared.

For this service, the credit card business charges Sears a charge (typical common normal fees range from two to four percent of the sale). The Benefits Receivable Funding can offer numerous benefits to cash-hungry companies. Rather than wait 30, 60, 90 days or longer for payment on a product that has actually currently been provided, a business can factor (sell) its receivables for cash at a small price cut off the dollar value of the invoice. Payroll, advertising efforts, and working capital are just a few of the company requirements that can be satisfied with instant  money.

Accounts Receivable Factor provides the means for a manufacturer to replenish inventory and make more products to offer: There is no longer a requirement to await for earlier sales to be paid. Receivable Loan Financing is not simply a cash management device for producers: Almost any kind business can benefit from Trucking Factoring. Typically, a business that extends credit will have 10 to 20 percent of its yearly sales tied up 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 money to meet those responsibilities. Using truck factoring companies is a quick and simple process. The factoring company buys the invoice at a discount, usually a few percentage points less than the face value of the invoice.

Accountingreceivable.Com

 

 

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

E-mail Us


or complete the
OnLine


Trucking Factoring Request Kind

 

 

YKLfactoring.com

 

 

The American Transportation Association
mentions that there around
200,000 work with transportation
companies and
276,000 personal service providers trucking
companies accredited to
operate in the States that transferred,
according to their latest listings of millions of
items, supplies and
fundamental products .
There are several common
providers either going solo or in
groups on our nation
roadways carrying these
vital items to our
stores, manufacturing facilities and ports.

Moreover  freight invoice factoring
corporations help
several of them and offer their
receivable loan services
nationwide including
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

Freight Factoring Companies

 

Watch Our Factoring YouTube Videos 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:

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

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

 

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

 

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

 

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

 

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.

 

"

Nguyen 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, Nguyen 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. Times were great for everyone, and the cash was flowing.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed down. And worse yet, Nguyen had noticed during the early part of 2008 that though the bulk of their clients were always on time with payments, the few late-bloomers there were, had seemingly started to spread this illness. Spring changed to summer, summer changed to fall, and the CEO of Nguyen, Cory Kennedy, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The number of clients who were late in their payments was continuing to grow.He had gone to his administrators and asked them what the problem had been. Were they doing things different, or wrong, when it came to collecting overdue accounts? By his bookkeepers records, this wasn't the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Nguyen money had jumped ship and decided to leave him holding the bag.

 

. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Nguyen hadn't gone elsewhere. The had just gone!.This current state-of-affairs was causing Cory Kennedy to have some very restless nights. Cory 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. At night he would speak to his wife Tamara and shake his head in frustration.

 

""Lin, I have a really bad feeling,"" he would say with deep woe.""What could you do differently?"" she would say.Cory 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 know what it is,"" said Cory. ""I've relied too long on the profits I receive from invoices alone. For too long I've been allowing our clients to let their accounts become overdue."" 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.

 

""Cory knew his wife meant well, but he knew that he was responsible for too many people to sit idly by, waiting for the sun to peak over the clouds.The next day Cory strolled into his office and was determined to sit down and make every phone call to every client who had owed Nguyen money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Cory knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. A waste of time - a waste of money - he had the best intentions, but all the while Cory was realising just how much trouble he was in.Poor Cory 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.

 

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

 

""Sure thing Myrtle, come on in."" Cory relaxed back into his chair and looked up at Myrtleerley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Cory."" 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 factoring""? he asked.""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.""Cory interrupted ""Immediately?"".""Immediately, yes"" she added, ""In a nutshell, it is pretty easy. We start by having a professional account manager review our figures and help us set up a company profile. 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.""Cory replied cautiously ""I see - and what happens then?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. There�s a lot of flexibility depending on the business volume and credit histories. The company will advise us the cost to purchase factoring for our company's accounts receivable. The funding commences once we�ve arrived at an agreement.�Cory leaned forward and reviewed the paperwork closely.""It sounds too good to be true, Myrtle,"" he said.""Now, now, I know, I thought the same thing. 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 Cory,"" she underlined a paragraph on the paper before him.""Just how flexible?"" he asked.""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. 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,"" said Cory.He took a deep breath and looked at his secretary with something she recognized as hope.""Exactly�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Cory thought about this and agreed with Myrtleerley. The customers who were in debt to Nguyen Truck & Haul were professional resources of the company, but they were also long-standing friends. Cory wasn't prepared to lose these relationships just because they were having financial issues at the moment. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. That unknown amount of time could create a disaster situation for both of them if he wasn't careful in how these debtors were handled. He did not want to lose business but he also did not want to lose any more money.""Let me go over this tonight Myrtle, and thankyou."" Myrtle nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Cory keep the shirt on his back, and possibly hers too.Cory sat behind his desk and looked over the details Myrtle had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Nguyen Truck & Haul with? Running his pencil down the sheet, he noted that the freight factoring company could assist with fuel costs, fuel advances, and fuel discount cards. In fact, Nguyen could receive up to fifty-percent cash advances upon load pick-ups. Cory 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 Earl the good news,"" muttered Cory to himself.His son-in-law Earl had liked the idea of Nguyen so much and revered his father in law for having such business acumen that only two years before, he had gathered the venture capital to begin his own transportation service company. Cory knew then what struggles Earl would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Nguyen was struggling then the little guys, like Earl, were going to be in even more trouble. But, an antidote may have been found in freight factoring and Cory 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 Cory was beginning to find his way out of the hole his debtors had created for him.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They took that time and refocused effort to offering competitive prices in new territories. Cory recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

 

More Trucking Factoring Companies Story Articles

Freight Factoring Companies

 

"

Factoring in the Future of a Trucking Business: A Story The phone was ringing on his desk, and Gilbert Franklin 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. Franklin 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.

 

Gilbert�s father had started as an owner-operator and had grown Franklin 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 Gilbert�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 Gilbert'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 all have families and the usual household bills. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. Every time he had to turn down a request, Franklin Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Gilbert allowed himself a good hard chuckle. He remembered when his father was totally against installing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� 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.

 

Gilbert knew he was right in his forward thinking. What would be the next step for Franklin Trucking? And how would he be able to afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

He wondered about factoring - was this the answer for him? There was a lot he didn�t understand about the process. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. 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. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Now it was time for Gilbert 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. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. 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 was good money.

 

It was really refreshing dealing with the factoring people. 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 Gilbert 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 Franklin 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.

 

Gilbert 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, Gilbert could actually expand Franklin 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.

 

"

 

http://Invoicefactoringservices.Org

 

 

Watch Our Factoring Videos For More Information

 

 

 

 

 

 

 

 

 

Trucking Factoring  Articles

Freight Factoring Companies

 

"

�So It is not a loan?� asked Robert Gray, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she stated.Robert 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 Paul. He named his business Gregory Trucking, named after Alfredo and Joe, his two grandfathers. Both of these men had been very hardworking and had set a great example for Paul.Six months ago disaster struck Paul'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. Robert 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 Robert had on hand.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

Waiting a month or longer for bills to be paid was quite normal. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Robert wasn�t a bad owner, and he hadn�t messed up. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.That�s where the woman across the desk came in. Her name was Stacey 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.Stacey explained. �It�s not a loan, we purchase 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 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.Robert nodded. It sounded good to him, almost too good.Stacey 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.�Stacey 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.""In any case, thank you for coming to see me.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Stacey with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Robert filled the form out, with Stacey available to help him if he needed it. The profile filled Stacey and her company in on Paul�s company, and would help them determine if he was 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. Listening as Robert filled out his form, Stacey was pretty sure he was a perfect candidate for factoring.When the form was done Stacey took it and slid it into her briefcase. Standing up, she reached over the desk and shook Paul's hand. He stood before they shook as well, and then smiled. They said their goodbyes and Robert 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 Stacey 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.The long nights, where he couldn�t sleep. The sudden panic attacks, not matter where he was. He could feel it all fading away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.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 he had gotten bored. He wasn't passionate about the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took six months off, and during that time he decided to create Gregory Trucking. So he did it. Once again he built 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 he couldn�t give up. Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He did not want to quit - both for himself and for his staff members.And now it seemed as though he would not have to - all because of Factoring. Paul's eyes opened, he sat forward in his chair and turned on his computer. He had lots to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

"

 

 

 

More Trucking Factoring Company Story Articles

Freight Factoring Companies

 

The reason why Trucking Corporations Employ Factoring Companies.

 

As the owner of your own company, you may be much more than conscious already of the hardship in making certain that capital issues do not become a dilemma down the line. After all, the most terrible thing that can potentially happen for your firm is to find yourself embroiled in a long and perplexing situation that leaves you forever trying to find the money you need on an continuous basis.

 

For just about any business in this case, the issue can come for waiting for work to lapse and actually be brought in into your balance. Statements, checks, and the like can take a while to actually to beprocessed which can easily leave you with short-term capital issues. Thankfully, there are options out there for businesses to examine-- and among these is factoring companies.

 

Factoring providers will, in substitution for your invoices, provide you with the resources today so that you do not need to fret about the waiting time frame that could make paying off the expenses and getting materialsmore complicated. With this form of setup, invoice factoring can become extremely practical for many establishments who need to get out of a cash lure which they have gotten themselves in.

 

Given that, basing on the scale of the job, it can take up to 60 days for a number of enterprises to get paid out then it is very important to take care of your own back and definitely not leave yourself money short to pay the expenses. After all, how many enterprises have two months cash flow just lying there to pay for all their spendings till they earn?

 

This is most notably true of trucking agencies. They often tend to handle great deals of statements which means a huge amount of collection period involves business owner themselves. Making an effort to get paid off promptly can become an incredible hassle and this is why you make use of truck factoring organizations who are glad to help out truckers specifically.

 

As we all realize, trucking is an unbelievably big field with numerous firms out there working with hundreds of vehicle drivers. Regretfully, quite a few of these drivers land up in finances issues since they are still awaiting work from six weeks ago to actually pay them. When this is the scenario for a trucking company, choosing factoring companies for reinforcement maybe the most ideal alternative left.

 

This indicates that a trucking organization can pay the salaries of the work force, keep all the vehicles loaded with gas and continue to scale, flourish and expand without always waiting for the money which is taking too long to come in. Trucking Companies functioning without a factoring system used are leaving themselves at significant threat, as competitors cash out rapidly and carry on to grow.

 

There's genuinely nothing to be stressed about when it comes to utilizing a Factoring firm-- they typically are not like a bank or any individual who is going to leave you with a huge stockpile of financial obligation to repay. You give them authentic invoices from work you have already accomplished , you are merely speeding up the payment system.

 

In the Usa, where truck companies grow, factoring enterprises are not considered borrowing in any capacity. This confidential deal then enables both parties to profit and indulge in a worry-free future-- it gives the factoring provider a guaranteed asset of income to put into the list and it gives the trucking business the required finances that they worked hard to obtain.

 

The trucking firm provides their accounts to the factoring company. The trucking factoring agency then collect the payments from the trucking company's clients. Factoring has been in existence for hundreds of years and has been used for long times by several various business sectors-- but none much more so than truckers. While you might lose out on a small part of the money, something like 1-3 % depending upon who you deal with, it indicates that you are receiving the finances today and can actually start putting the cash to function.

 

Anyway, an IOU or an invoice is absolutely not going to cover costs, is it? For trucking firms when the cash can be really good one day and gone the next, it is up to the drivers to work sensibly and to make sure that they are leaving themselves with a notable volume of time and finance to get through the week till they are handed over once again.

 

So the next occasion your trucking establishment is having some short-term cash flow troubles and you are spending too much time chasing slowly paying customers, why not begin looking into making use of a factoring companies as a method to get your money and give yourself a more convenient future in the eyes of your trucking staff and your bank dividend?

 

 

 

 

 

 

"

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. 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.

 

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 finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared 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.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

Not every business can benefit from Trucking Factoring account financing because you have to have a business with accounts receivable, however there are many benefits for those who can access this type of finance.

 

1. There is no debt. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. Should the unforeseeable happen and your business fails, you will not 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 great benefit of using the services of a Trucking Factoring company instead of a bank loan is that there is no collateral required for the Trucking Factoring company, because the Trucking Factoring company is buying your accounts receivables. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

3. 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. 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 you do not have to worry about monthly loan repayments, and you do not have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The 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.

 

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.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.

 

"