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Invoice Factoring is advantageous for numerous factors. It allows a trucking business to raise cash without acquiring new debt. While financial obligation is in some cases needed, a lot of trucking companies would prefer to raise cash without borrowing cash. Financial obligation is dangerous, and when it cannot be paid back, possessions can be repossessed. If the financial obligation is huge enough, it could even require a trucking firms out of business.

 

Free Book Tells You 12 Secrets of Better Cash Flow - Select A Factoring Company Instead Of A Regular Bank Funding

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

At one time or another, every business, even successful ones, have experienced bad money flow.

Cash flow does not have to be a problem any more. Do not be deceived -- banks are not the only places you can get financing. Other options are available and you do not have to borrow. Exactly what is trucking factoring ? One solution is called trucking factoring. Trucking Factoring is the process of offering invoices to an investor instead of waiting to gather the cash from the client. Oh, the Irony- Trucking factoring has an ironic distinction: It is the financial backbone of many of America's most successful companies. Why is this paradoxical ? Since commercial factoring is not instructed in business colleges, is rarely discussed in business plans and is relatively unidentified to bulk of most of American business people.

Yet it is a monetary process that frees billions of dollars every year, enabling countless companies to grow and succeed. Trucking Factoring has actually been around for countless years. Factoring Businesses 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 actually agreed pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business transactions, a big portion of the retail company uses a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail transactions. Using the purest meaning of the word, these large customer finance business are really simply large Receivable Financing Businesses of consumer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The store makes money practically immediately, although you do not pay up until you are ready.

For this service, the charge card company charges Sears a fee (typical common normal charges vary from 2 to 4 percent of the sale). The Benefits Receivable Loan Funding can offer many advantages to cash-hungry business. Instead of waiting 30, 60, 90 days or longer for payment on an item that has currently been provided, a business can factor (sell) its receivables for money at a small discount off the amount of the invoice. Payroll, advertising efforts, and working capital are simply a few of the business needs that can be satisfied with instant  money.

Account Receivable Financing provides the ways for a manufacturer to renew inventory and make even more items to sell: There is no longer a need to wait for earlier sales to be paid. FACTORING is not just a money management tool for producers: Practically any type business can take advantage of Accounts Receivable Factoring. Typically, a business 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 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 sell that invoice for the money to satisfy those responsibilities. Using trucking factoring companies is a quick and easy process. The factor purchases the invoice at a discount, typically a couple of percentage points less than the stated value of the invoice.

 

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The United states Truck Association states that there around 200,000  work with transportation firms and 250,000 personal companies trucking firms certified to run in the United States that  transferred, according to their most current data of millions  products, supplies and basic materials . There are a number of  usual providers either going solo or in teams on our country roads transporting these important products to our shops, manufacturingplants and harbors.

Moreover truck factoring corporations support many of them and offer their receivable loan services nationwide comprising 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

tucson-invoice-factoring-companies

 

View Our Factoring YouTube Video For More Information

 

Oilfield services Receivables Financing company Calculator
This calculator will show you how much you will make by using our Oilfield services Receivables Financing company . But, as your about todiscover, youwill certainly notice the increased cash flow that will occur when you use our Oilfield services Receivables Financing company
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(call your Oilfield services Receivables Financing company lender and ask for the current payoff amount):
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The largest trucking companies in the U.S. set a revenue record in 2013, but revenuegrowth slowed for the second year in a row.

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

 

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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

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

 

United States Trucking Companies

Click below to find Trucking Companies in the United States:

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

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

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

 

 

 

 

 

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Much of Tucson's economic development has been centered on the development of the University of Arizona, which is currently the second largest employer in the city. Davis-Monthan Air Force Base, located on the southeastern edge of the city, also provides many jobs for Tucson residents. Its presence, as well as the presence of the US Army Intelligence Center (Fort Huachuca, the largest employer in the region in nearby Sierra Vista), has led to the development of a significant number of high-tech industries, including government contractors, in the area. The city of Tucson is also a major hub for the Union Pacific Railroad's Sunset Route that links the Los Angeles ports with the South/Southeast regions of the country.The City of Tucson, Pima County, the State of Arizona, and the private sector have all made commitments to create a growing, healthy economy[citation needed] with advanced technology industry sectors as its foundation. Raytheon Missile Systems, Texas Instruments, IBM, Intuit Inc., Universal Avionics, Honeywell Aerospace, Sunquest Information Systems, Sanofi-Aventis, Ventana Medical Systems, Inc., and Bombardier Aerospace all have a significant presence in Tucson. Roughly 150 Tucson companies are involved in the design and manufacture of optics and optoelectronics systems, earning Tucson the nickname ""Optics Valley"".[48]Tourism is another major industry in Tucson, bringing in $2 billion per year and over 3.5 million visitors annually due to Tucson's numerous resorts, hotels, and attractions.[49]One of the major annual attractions is the Tucson Gem and Mineral Show, and its associated shows, all held generally in the first two weeks of February. These associated shows (such as gems, jewelry, beads, fossils) are held throughout the city, with 43 different shows in 2010. This makes Tucson's the largest such exposition in the world.In addition to vacationers, a significant number of winter residents, or ""snowbirds"", are attracted by Tucson's mild winters and contribute to the local economy. Snowbirds often purchase second homes in Tucson and nearby areas, contributing significantly to the property tax base.There are also a number of middle-class and upper-class Sonorans and Sinaloans who travel from Mexico to Tucson to purchase goods that are not readily available in Mexico.[citation needed]Nonprofits based in Tucson include the Muscular Dystrophy Association

 

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Edwards 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, Edwards was a top rated accounts receivable mastermind of the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. 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. And worse yet, Edwards 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. And as spring turmed to summer and summer into the early days of fall, Ryan Collins, CEO of Edwards felt a chill go down his spine whenever he would look at the weekly A/R reports. The numbers of clients who owed him back debt were growing.He had 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. 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 Edwards money had jumped ship and decided to leave him holding the bag.

 

. They couldn't afford to pay him their debt, but they could afford a lesser service, maybe. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Edwards hadn't gone elsewhere. They had just gone home.The situation looked dire to Ryan Collins. There were goods to ship, employees to pay, trucks to repair and maintain, and continuous overheads that were very extensive when compared to the funds (or lack of) that were incoming. At night he would speak to his wife Joyce and shake his head in frustration.

 

""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would ask.Ryan would stare off into the distance, and then slowly close his eyes. He could see the fleet of trucks he had purchased over the years. He could see them traveling, bringing goods to all of his clients. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What on earth was happening to create the death of his business?""I know what it is,"" said Ryan. ""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's a hard economy. It might be awhile until things get settled up.

 

""Joyce was trying so hard to support her husband in these worrying times, while Ryan was weighed down with the worry of how he was going to handle this situation he found himself in.The following day Ryan walked into his office with a spring in his step, determined to call each and every client who owed money to Edwards Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Ryan 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 Ryan was realising just how much trouble he was in.Poor Ryan 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.

 

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

 

""Sure thing Cheryl, come on in."" Ryan leaned back in his chair and looked expectantly at Cherylerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Ryan."" 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?"" she 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.""""Immediately?"" Ryan interrupted.""Yes, immediately,"" she continued, ""It's actually very simple. 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�s a broad view.��Ryan 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.

 

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.�Ryan leaned forward and reviewed the paperwork closely.""I don't know, Cheryl - it just sounds too good to be true"", Ryan said quietly.""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 Ryan,"" she underlined a paragraph on the paper before him.""How flexible?"" asked Ryan.""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're all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. It's imperative that we keep the business rolling as usual, and every day we go unpaid we're getting closer and closer to dealing with some serious issues in both the short term and the long term,"" Ryan said.Ryan 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.""Ryan thought about this and agreed with Cherylerley. The clients who owed them money were long standing friends and professional resources of Edwards. Ryan wasn't prepared to lose these relationships just because they were having financial issues at the moment. Ryan knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. Of course he didn't want to lose any more money, but he didn't want to lose business either.""Let me go over this tonight Cheryl, and thankyou."" Cheryl nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Ryan 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 Edwards 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, Edwards could receive up to fifty-percent cash advances upon load pick-ups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""Well, I'll have to tell Timothy about this,"" Ryan muttered to himself.Timothy is Ryan's son-in-law, and he really admired the ideas behind Edwards, so much so that only two years before he had started his own transportation service business. Ryan knew then what struggles Timothy would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Edwards was hurting, a little guy like Timothy was about to catch his death. But, maybe the answer for both of them was in freight factoring, and Ryan 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 Ryan 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. Ryan recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. He probably wouldn't be in business today had he not learned just in time about freight factoring.

 

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More Trucking Factoring Companies Story Articles

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

 

More than forty years ago Tim's father had started this business working as an owner-operator and eventually growing Arnold Trucking Company into a fifteen trailer fleet. Yes, they had survived some very difficult times when it appeared like they might go under, and even Tim's mother had jumped into the cab at times 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 Tim'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. He knew that turning down these requests made Arnold Trucking look inefficient and weak in what was currently a strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Tim chuckled, thinking about his father. He remembered when his father was totally against installing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). 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.

 

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

 

But was factoring the answer? 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. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. During those thirty days the trucking company can't pay its employees and bills with invoices.

 

Now it was time for Tim to do his homework. Tim 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. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. 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. 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 Tim it was quite a relief to be dealing with the factoring company. They were more personable than those loan managers at the bank. 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. Factoring was based on the credit of his customers and on their reliability which worked well for Tim because he and his father had built up good strong relationships over decades with their list of clients. 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 Arnold 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.

 

Feeling happier now, Tim stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. 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 Arnold Trucking Company and who knows, move into Canada, which had always been his dream. 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 wouldn't be inheriting a financial mess.

 

 

 

 

Watch Our Truck Factoring Videos For More Information

 

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Trucking Factoring  Articles

�So, this is not a loan?� Clinton Thomas asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Clinton smiled at him, shaking her head.�Not quite,� she stated.Clinton 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 Wade. He named his business Baker Trucking, named after Oscar and Dave, his two grandfathers. Both of these men had been very hardworking and had set a great example for Wade.Disaster had struck half a year ago, when two trucks in Wade�s fifteen truck fleet went down. One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. Clinton depended on his full fleet, and missing two trucks was devastating . In addition, he just didn't have the available cash to buy a new truck, plus repair the other one.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

You could go a month or more before bills were completely paid off. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Clinton wasn�t a bad owner, and he hadn�t messed up. Things had happened that he couldn't have predicted, and he had to figure out a way to keep his business from hurting, or even going under.And that's why he found himself across the desk from this woman. Her name was Brenda 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.Brenda explained. �it is really not a loan at all: we actually buy your accounts receivable. We're not giving you finance to be repaid later: we're purchasing something from you, and when you can you can buy it back. 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.Clinton nodded. It sounded good to him, almost too good.Brenda 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.�Brenda nodded. �We get that a lot. 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. Sometimes you need help. That�s what we�re here for.��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,� Brenda said with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.

 

Clinton completed the form, with Brenda offering advice as needed.

 

The profile filled Brenda and her company in on Wade�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. Listening as Clinton filled out his form, Brenda was pretty sure he was a perfect candidate for factoring.Brenda took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Wade's hand. He stood before they shook as well, and then smiled. They said their goodbyes and Clinton 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. Talking to Brenda though, learning about factoring, it felt like a weight had been lifted from 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 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.Clinton 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 really successful. Offering home cooking in his own hometown, his business had really prospered.But it wasn't what he really wanted to do. He wasn't passionate about the food industry. He thought long and hard, and then he decided to sell the restaurant. He took half a year off, and in that time he thought to start Baker Trucking. And that's exactly what he did. Once again he built 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 giving up wasn't part of his personality either.

 

The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He didn�t know how to say quit.And now it seemed as though he wouldn't have to - all because of Factoring. Clinton 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

Why Trucking Agencies Use Factoring Companies.

 

As the operator of your own business, you may well be more than conscious already of the difficulty in making sure that capital matters do not become a predicament down the line. Anyway, the worst thing that can potentially happen for your firm is to find yourself dragged in a long and complicated situation that leaves you forever trying to find the cash you need on an ongoing basis.

 

For pretty much any firm in this instance, the issue can come for waiting for work to clear up and actually be settled into your account. Bill of sales, checks, and the like can take a long time to actually to beprocessed which may leave you with temporary capital dilemmas. Fortunately, there are alternatives out there for industries to explore-- and just one of these is factoring firms.

 

Factoring companies will, in trade for your statements, supply you with the money immediately to ensure you don't have to worry about the waiting phase that could make paying the expenses and acquiring toolsmore complicated. With this type of setup, invoice factoring can become extraordinarily practical for several businesses who need to get out of a cash pitfall which they have found themselves in.

 

Since, basing on the scale of the project, it can take up to 60 days for a number of business enterprises to get compensated then it's vital to take care of your own back and definitely not leave yourself money short to pay the costs. After all, how many companies have two months revenue just occupying there to address all their overheads till they earn?

 

This is particularly true of trucking firms. They have the tendency to manage great deals of accounts which means a significant volume of collection period entails business owner themselves. Trying to get paid promptly can eventually become an extraordinary inconvenience and this is exactly why you employ truck factoring agencies who are thrilled to help out truckers particularly.

 

As most of us know, trucking is an astonishingly massive industry with many firms out there working with hundreds of vehicle drivers. Sadly, numerous of these drivers land up in finances predicaments simply because they are still anticipating work from six weeks in the past to actually pay them. When this is the scenario for a trucking business, depending on factoring firms for support maybe the very best alternative left.

 

This indicates that a trucking corporation can pay out the paychecks of the people, keep all the vehicles filled with gas and continue to escalate, progress and expand without continually waiting for the resources which is taking too prolonged to come in. Trucking Enterprises running without a factoring program put in place are leaving themselves at considerable threat, as competitors cash out fast and proceed to expand.

 

There's honestly not a thing to be stressed about when it comes to employing a Factoring business-- they commonly are not like a bank or somebody who is going to leave you with a significant heap of debt to pay back. You give them legitimate invoices from work you have already wrapped up , you are simply facilitating the repayment system.

 

In the United States, where truck agencies succeed, factoring companies are not considered accepting loan of in any capacity. This private agreement then allows both groups to profit and take joy in a comfortable future-- it provides the factoring provider a guaranteed resource of profit to add to the list and it supplies the trucking company the required cash that they worked hard to acquire.

 

The trucking enterprise provides their invoices to the factoring firm. The trucking factoring company then obtain the payment amounts from the trucking company's clients. Factoring has beenaround for hundreds of years and has been utilized for long times by plenty of diverse business-- but none much more 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 money today and can actually start off setting the money to perform.

 

Anyway, an IOU or an invoice is definitely not going to cover spendings, is it? For trucking establishments when the funds can be very good one day and gone the next, it's up to the vehicle drivers to work sensibly and to make sure they are leaving themselves with a considerable amount of time and finance to get through the week till they are paid once again.

 

So the next moment your trucking enterprise is having some momentary capital troubles and you are putting in an excessive amount of time chasing inactive paying clients, why not start off thinking about making use of a factoring companies as a manner to get your money and give yourself a more at ease future in the eyes of your trucking crew and your bank dividend?

 

 

 

 

 

 

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Traditional Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. These loans can be a life-saver, but they're not always available to every business. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it'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. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Once the loan is paid off, you can then apply for another loan if the need arises.

 

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.

 

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 Won't Incur Debt. You don't incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. This has many benefits including the fact, that this type of financing won't affect either your business credit rating or your personal credit rating. Should the unforeseeable happen and your business fails, you won't have to worry about anyone coming after your personal as well as your business assets to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. No Collateral Required. Another 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. 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 makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

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

 

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

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. 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.

 

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

 

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Invoice Factoring Companies by City

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

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

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

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

Colorado Springs
Raleigh
Omaha
Miami
Oakland
Tulsa
Minneapolis
Cleveland
Wichita
Arlington

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

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

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

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

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