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For The Business Who Wants To Look Better - Our Trucking Factoring Companies Can Provide
Your Trucking Company The Cash Your Company Needs

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Invoice Factoring is beneficial for a number of reasons. It permits a trucking business to raise money without getting new financial obligation. While debt is occasionally essential, the majority of freight brokerage would like to raise cash without obtaining cash. Financial obligation is risky, and when it cannot be repaid, assets can be repossessed. If the debt is huge enough, it could even force a truck companies out of business.

 

 

 

 

 

 

 

The Company Who Won the Prize For - Select An Invoice Factoring Company Instead Of A Traditional Bank Funding

How to Increase Cash Flow Without Borrowing -Cash Money flow is one of the main reasons companies fail.

At one time or another, every company, even successful ones, have experienced poor money flow.

Cash flow does not have to be an issue any more. Do not be deceived -- banks are not the only places you can get financing. Other solutions are offered and you do not have to borrow. What is truck factoring ? One solution is called trucking factoring. Trucking Factoring is the process of offering accounts receivable to an investor instead of waiting to gather the cash from the customer. Oh, the Irony- Trucking factoring has a paradoxical distinction: It is the monetary foundation of many of America's most successful businesses. Why is this paradoxical ? Because receivable funding is not taught in business colleges, is rarely discussed in company strategies and is fairly unidentified to the majority of most of American business individuals.

Yet it is a financial procedure that releases up billions of dollars every year, enabling countless businesses to grow and succeed. Receivable Funding has been around for thousands of years. Staffing Factoring Companies are investors who pay money for the right to get the future payments on your invoices. An unpaid receivable or invoice has value. It is a debt your customer has actually to pay in the near future. Factoring Principals--Although factoring deals solely with business-to-business transactions, a big percentage of the retail business uses a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail transactions. Utilizing the purest meaning of the word, these big consumer finance business are really just big FACTORING Companies of consumer paper. Consider it: You make a purchase at Sears and charge it to your MasterCard. The shop makes money practically immediately, even though you do not make payment until you are ready.

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

Invoice Factoring provides the ways for a manufacturer to replenish inventory and make more products to offer: There is no longer a need to wait for earlier sales to be paid. Receivable Loan Financing is not simply a cash management device for producers: Practically any kind business can benefit from Truck Factoring. Typically, a business that extends credit will have 10 to 20 percent of its yearly sales tied up in invoices at any given time. Think for a moment about how much is tied up in 60 days' worth of invoices: You can not pay the power bill or today s payroll with a customer s invoice, but you can offer that invoice for the money to meet those responsibilities. Using trucking factoring companies is a quick and easy process. The factor purchases the invoice at a price cut, usually a few percentage points less than the stated value of the invoice.

 

 

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The United states Transportation Association
specifies that there around
205,000 work with truck
businesses and
276,000 personal service providers trucking
firms licensed to
run in the States that transported,
according to their newest searchings for billions of
products, supplies and
standard products .
There are a number of common
carriers either going solo or in
groups on our country
roadways transferring these
vital products to our
shops, manufacturingplants and ports.

Plus trucking factoring
companies aid
several of them and offer their
receivables financing facilities
countrywidecomprising
including the following states.

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

 

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Raleigh's industrial base includes banking/financial services; electrical, medical, electronic and telecommunications equipment; clothing and apparel; food processing; paper products; and pharmaceuticals. Raleigh is part of North Carolina's Research Triangle, one of the country's largest and most successful research parks, and a major center in the United States for high-tech and biotech research, as well as advanced textile development. The city is a major retail shipping point for eastern North Carolina and a wholesale distributing point for the grocery industry.Raleigh, NC is number three on the 2013 List for being the best place for businesses and careers. Companies based in Raleigh include BB&T Insurance Services, Capitol Broadcasting Company, Carquest, In April referred to Raleigh as ""a real concentration of brain power. You have a lot of smart people living in the same place. That will drive the economyRaleigh is the capital of the state of North Carolina as well as the seat of Wake County. Raleigh is known as the ""City of Oaks"" for its many oak trees, which line the streets in the heart of the city. The city covers a land area of 142.8 square miles (370 km2). According to the U.S. Census Bureau, the city's 2012 estimated population was 423,179, making Raleigh the 42nd most populous city in the United States. It is also one of the fastest-growing cities in the country. The city of Raleigh is named after Sir Walter Raleigh, who established the lost Roanoke Colony in present-day Dare County.Raleigh is home to North Carolina State University and is part of the Research Triangle area, together with Durham (home of Duke University) and Chapel Hill (home of University of North Carolina at Chapel Hill). The ""Triangle"" nickname originated after the 1959 creation of the Research Triangle Park, located in Durham & Wake Counties partway between the three cities and their universities. The Research Triangle region encompasses the U.S. Census Bureau's Raleigh-Durham-Chapel Hill Combined Statistical Area (CSA), which had an estimated population of 2,037,430 in 2013. The Raleigh Metropolitan Statistical Area (MSA) had an estimated population of 1,214,516 in 2013.Most of Raleigh is located within Wake County, with a very small portion extending into Durham County. The towns of Cary, Morrisville, Garner, Auburn, Clayton, Wake Forest, Apex, Holly Springs, Fuquay-Varina, Willow Springs, Knightdale, Wendell, Zebulon, and Rolesville are some of Raleigh's primary nearby suburbs and satellite towns.Raleigh is an early example in the United States of a planned city, chosen as the site of the state capital in 1788 and incorporated in 1792 as such. The city was originally laid out in a grid pattern with the North Carolina State Capitol in Union Square at the center. In the United States Civil War the city was spared from any significant battle, only falling in the closing days of the war, though it did not escape the economic hardships that plagued the rest of the American South during the Reconstruction Era. The twentieth century saw the opening of the Research Triangle Park in 1959, and with the jobs it created the region and city saw a large iux of population, making it one of the fastest growing communities in the United States by the early 21st century.Raleigh is home to numerous cultural, educational, and historic sites. The Progress Energy Center for the Performing Arts in Downtown Raleigh features three theater venues and serves as the home for the North Carolina Symphony. Walnut Creek Amphitheatre is a large music amphitheater located in Southeast Raleigh. Museums in Raleigh include the North Carolina Museum of Art in West Raleigh, as well as the North Carolina Museum of History and North Carolina Museum of Natural Sciences located next to each other near the State Capitol in Downtown Raleigh. Several major universities and colleges call Raleigh home, including North Carolina State University, the largest public university in the state, and Shaw University, the first historically black university in the American South and site of the foundation of the Student Nonviolent Coordinating Committee, an important civil rights organization of the 1960s. One U.S. president, Andrew Johnson, was born in Raleigh.

 

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Oilfield services Factoring Company Calculator
This calculator will show you how much you will make by using our Oilfield services Factoring company . But, as your about to discover, you will certainly notice the increased cash flow that will occur when you use our Oilfield services Factoring company
Enter the principal balance of your Oilfield services Factoring company
(call your Oilfield services Factoring company lender and ask for the current payoff amount):
Enter the amount of your monthly Oilfield services Factoring company payment:
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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 Top 50 Trucking Companies list, based on data prepared by Consulting Group in Pittsburgh.

 

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.

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.

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.

 

"

Dunn 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, Dunn 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. The money was flowing, and times were great.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed to a crawl

 

. Worse still, it was noticed by Dunn in early 2008 that even though most of their loyal customers were on time with their payments, there were a few late bloomers who were starting to spread the disease. And as spring turmed to summer and summer into the early days of fall, Lloyd Cole, CEO of Dunn felt a chill go down his spine whenever he would look at the weekly A/R 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? When checking his bookkeeper's records this was definitely not the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. They could not afford to pay him their debt, but they could afford a lesser service, maybe. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. They had just gone home.This current state-of-affairs was causing Lloyd Cole to have some very restless nights. 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 Erin and shake his head in frustration.

 

""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""What could you do differently?"" she would say.Lloyd 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 could cause this ultimate death spiral of business?""I think I know what it could be,"" said Lloyd. ""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."" Erin would look at her husband lovingly, and holding his hand would say 'it is such a harsh economy these days and our clients must be having difficulty meeting their responsibilities'.""Lloyd 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 following day Lloyd walked into his office with a spring in his step, determined to call each and every client who owed money to Dunn Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Lloyd 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. Wasting money, wasting time - even with the best of intentions, Lloyd knew that he was in trouble.

 

After a half day of contacting debtors in vain - they dodged his calls or promised to call back at worst or made minimal interest-only payments at best - he was about to throw in the towel when his secretary Theresaerley knocked at his door.

 

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

 

""Of course Theresa, please come in."" Lloyd leaned back in his chair and looked expectantly at Theresaerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Lloyd."" 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.She began, ""Well, it is really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Lloyd interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""it is actually very simple. We can have an expert account manager review our numbers and help us complete 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.""Lloyd replied cautiously ""I see - and what happens then?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

This company tells us what the cost will be to purchase factoring for our accounts receivable. Once we arrive at a mutual agreement, the funding begins.�Lloyd leaned forward and reviewed the paperwork closely.""It sounds too good to be true, Theresa,"" 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. They appear to be very flexible, Lloyd,"" she drew a circle around a paragraph on the document before him.""How flexible?"" asked Lloyd.""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. ""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. 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,"" Lloyd said.He took a deep breath and looked at his secretary with something she recognized as hope.""Precisely�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Lloyd took a moment to think about this solution, and agreed with his secretary. The clients who owed them money were long standing friends and professional resources of Dunn. They did not want to throw away these relationships because they were having trouble paying their bills now. Lloyd knew only too well that the whole economy was floundering, and that it was not going to change overnight. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. He did not want to lose business but he also did not want to lose any more money.""Well, let me think about this tonight Theresa, thank you."" Theresa nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Lloyd keep the shirt on his back, and possibly hers too.Lloyd 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 Dunn 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. Lloyd was surprised: it said that his company could get up to fifty percent cash advances on load pickups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""Well, I'll have to tell Charlie about this,"" muttered Lloyd to himself.Charlie is Lloyd's son-in-law, and he really admired the ideas behind Dunn, so much so that only two years before he had started his own transportation service business. At that time Lloyd knew the struggles Charlie would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Dunn was struggling then the little guys, like Charlie, were going to be in even more trouble.

 

But, an antidote may have been found in freight factoring and Lloyd was soon to find out.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Lloyd found himself beginning to dig his way out of the hole his delinquent account holders 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. Lloyd recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. If Lloyd hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

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Raleigh's industrial base includes banking/financial services; electrical, medical, electronic and telecommunications equipment; clothing and apparel; food processing; paper products; and pharmaceuticals. Raleigh is part of North Carolina's Research Triangle, one of the country's largest and most successful research parks, and a major center in the United States for high-tech and biotech research, as well as advanced textile development. The city is a major retail shipping point for eastern North Carolina and a wholesale distributing point for the grocery industry.Raleigh, NC is number three on the 2013 List for being the best place for businesses and careers. Companies based in Raleigh include BB&T Insurance Services, Capitol Broadcasting Company, Carquest, In April referred to Raleigh as ""a real concentration of brain power. You have a lot of smart people living in the same place. That will drive the economyRaleigh is the capital of the state of North Carolina as well as the seat of Wake County. Raleigh is known as the ""City of Oaks"" for its many oak trees, which line the streets in the heart of the city. The city covers a land area of 142.8 square miles (370 km2). According to the U.S. Census Bureau, the city's 2012 estimated population was 423,179, making Raleigh the 42nd most populous city in the United States. It is also one of the fastest-growing cities in the country. The city of Raleigh is named after Sir Walter Raleigh, who established the lost Roanoke Colony in present-day Dare County.Raleigh is home to North Carolina State University and is part of the Research Triangle area, together with Durham (home of Duke University) and Chapel Hill (home of University of North Carolina at Chapel Hill). The ""Triangle"" nickname originated after the 1959 creation of the Research Triangle Park, located in Durham & Wake Counties partway between the three cities and their universities. The Research Triangle region encompasses the U.S. Census Bureau's Raleigh-Durham-Chapel Hill Combined Statistical Area (CSA), which had an estimated population of 2,037,430 in 2013. The Raleigh Metropolitan Statistical Area (MSA) had an estimated population of 1,214,516 in 2013.Most of Raleigh is located within Wake County, with a very small portion extending into Durham County. The towns of Cary, Morrisville, Garner, Auburn, Clayton, Wake Forest, Apex, Holly Springs, Fuquay-Varina, Willow Springs, Knightdale, Wendell, Zebulon, and Rolesville are some of Raleigh's primary nearby suburbs and satellite towns.Raleigh is an early example in the United States of a planned city, chosen as the site of the state capital in 1788 and incorporated in 1792 as such. The city was originally laid out in a grid pattern with the North Carolina State Capitol in Union Square at the center. In the United States Civil War the city was spared from any significant battle, only falling in the closing days of the war, though it did not escape the economic hardships that plagued the rest of the American South during the Reconstruction Era. The twentieth century saw the opening of the Research Triangle Park in 1959, and with the jobs it created the region and city saw a large iux of population, making it one of the fastest growing communities in the United States by the early 21st century.Raleigh is home to numerous cultural, educational, and historic sites. The Progress Energy Center for the Performing Arts in Downtown Raleigh features three theater venues and serves as the home for the North Carolina Symphony. Walnut Creek Amphitheatre is a large music amphitheater located in Southeast Raleigh. Museums in Raleigh include the North Carolina Museum of Art in West Raleigh, as well as the North Carolina Museum of History and North Carolina Museum of Natural Sciences located next to each other near the State Capitol in Downtown Raleigh. Several major universities and colleges call Raleigh home, including North Carolina State University, the largest public university in the state, and Shaw University, the first historically black university in the American South and site of the foundation of the Student Nonviolent Coordinating Committee, an important civil rights organization of the 1960s. One U.S. president, Andrew Johnson, was born in Raleigh.

 

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More Trucking Factoring Companies Story Articles

"

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

 

Gabriel�s father had started as an owner-operator and had grown Alvarez Trucking Company into a fifteen trailer fleet over forty years. Yes, they had survived some very difficult times when it appeared like they might go under, and even Gabriel's mother had jumped into the cab at times to make hauls. His father had worked long enough to see the price of hires drop dramatically during the recession and to see the explosion of fuel prices afterwards. Now the company was solely in Gabriel�s hands and he wanted to live to see it in better shape for his sons.

 

There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. His employees needed to be paid. They had families and household bills too. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. Every time he had to turn down a request, Alvarez Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Gabriel chuckled, thinking about his father. 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. 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.

 

Gabriel believed a successful man is always thinking of his next step. How would he take Alvarez 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.

 

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. 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.

 

Now it was time for Gabriel to do his homework. Gabriel 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! 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. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

However, it all turned out to be very simple. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He was quite happy to sign an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. He was more than happy with the figures he was offered in percentage terms on the freight bills. It was good money.

 

It was really refreshing dealing with the factoring people. They were extremely helpful and more personable than the bank staff. 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 didn�t worry over his credit and the debt troubles his father had had in the past of the company. Factoring was based on the credit of his customers and on their reliability which worked well for Gabriel 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 would not have any problems, nor would they think poorly of Alvarez Trucking, because the factoring companies handle themselves in such a polite and professional manner, similar to the way his father had managed the business in the past.

 

Feeling happier now, Gabriel stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. He suddenly realized that, with this new cash flow, he could actually expand Alvarez 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.

 

"

 

 

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Trucking Factoring  Articles

"

�So, this is not a loan?� Marvin Duncan asked as he leaned back in his chair, crossing his legs. The woman who sat across the desk smiled and shook her head.�No, not exactly,� she said.Marvin Duncan owned a small trucking company, and his business had recently fallen on difficult times. Trucking could be a profitable business, and for a little under a decade, it had been for Allan. His company was called Jennings Trucking, named after both of his grandfathers, Nathan and Randy. They had both been hardworking men, and had done a lot to make Marvin the same.Six months ago disaster struck Allan's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. Marvin depended on his full fleet, and missing two trucks was devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.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. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Marvin wasn�t a bad owner, and he hadn�t messed up. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.And that's why he found himself across the desk from this woman. Her name was Kathleen 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.Kathleen explained. �it is really not a loan at all: we actually buy your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. That way we�re protected from a complete loss, but you�re protected from the outrageous fees you would find in a loan from the bank.Marvin nodded. It sounded perfect - perhaps too good?.Kathleen laughed. �You look like you don�t 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.�Kathleen smiled, agreeing. �Yes, we get a lot of that. There's no way we want to see you lose your business. You work hard, you�ve put everything you can into it. We all need help sometimes. 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,� Kathleen said with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.

 

Marvin filled the form out, with Kathleen available to help him if he needed it. The profile filled Kathleen and her company in on Allan�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 Marvin filled out his form, Kathleen was pretty sure he was a perfect candidate for factoring.Kathleen took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Allan�s hand. He also stood up, and they smiled at each other. Marvin walked Kathleen to the door where they said 'Goodbye', then he went back into his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He shut 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 Kathleen 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 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 there, he was on the right path, and he was working to make things right.Marvin 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 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 Jennings Trucking. So he did it. For the second time in his short life he created a company from the ground up. The business had been an instant success.And then the trucks went down, and his success looked to be in flux. He was nearing fifty. He was concerned that he just did not have the energy left to try and save the business. But he couldn�t give up. Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He didn�t know how to say quit.And now, because of factoring, he was sure he wouldn�t have to. Marvin opened his eyes, sat forward, turned his computer on. He had lots to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

The reason why Trucking Establishments Employ Factoring Firms.

 

As the manager of your own firm, you may likely be much more than conscious already of the hardship in making sure that capital issues do not become a problem down the line. After all, the toughest thing that can possibly occur for your firm is to find yourself embroiled in a long and complicated circumstance that leaves you forever trying to find the resources you necessitate on an recurring manner.

 

For any type of company in this case, the dilemma can come for waiting for work to clear up and actually be provided into your bank account. Statements, checks, and the like could take some time to actually to be taken care of which can easily leave you with temporary capital difficulties. Thank goodness, there are options out there for companies to explore-- and one of these is factoring firms.

 

Factoring agencies will, in exchange for your invoices, grant you with the cash money today to ensure you do not need to fret about the delaying duration that could make paying out the expenses and obtaining materialsmore complicated. With this style of setup, invoice factoring can come to be extraordinarily practical for numerous enterprises who ought to avoid a money trap which they have discovered themselves in.

 

Because, depending on the volume of the work, it can take up to 60 days for some establishments to get paid out then it is necessary to blanket your own back and not leave yourself money short to pay the expenses. After all, how many businesses possess two months cash flow just lying there to handle all their bills till they make money?

 

This is specifically true of truck firms. They often handle bunches of statements which means a significant amount of collection period demands company owner themselves. Attempting to get paid off in time can eventually become an amazing difficulty and this is precisely why you make use of trucking factoring providers who are thrilled to help out truckers particularly.

 

As most of us recognize, trucking is an incredibly big industry with countless agencies out there utilizing hundreds of operators. However, many of these drivers land up in cash difficulties for the reason that they are still waiting on work from six weeks back to actually pay them. When this is the situation for a truck business, consulting factoring providers for aid may be the most suitable option left.

 

This signifies that a truck corporation can provide the salaries of the workers, keep all the trucks filled with fuel and continue to surmount, develop and expand without consistently waiting for the funds which is taking too long to come in. Trucking Business enterprises functioning without a factoring system applied are leaving themselves at critical risk, as rivals cash out rapidly and continue to grow.

 

There's genuinely almost nothing to be distressed about when it comes to utilizing a Factoring agency-- they usually are not like a bank or a person who is going to leave you with a large stockpile of liability to pay back. You give them legitimate invoices from job you have already finalized , you are simply expediting the repayment process.

 

In the Usa, where truck firms do well, factoring companies are not considered borrowing in any capacity. This confidential arrangement then permits both groups to make money and indulge in a convenient future-- it provides the factoring company a guaranteed asset of money to put into the list and it provides the trucking business the needed money that they sweated to get.

 

The trucking enterprise gives their accounts to the factoring business. The trucking factoring company then acquire the payments from the trucking company's customers. Factoring has been all around for centuries and has been adopted for many years by several different business-- but none much more so than truckers. While you may lose out on a small part of the money, something like 1-3 % depending upon who you collaborate with, it means that you are receiving the cash today and can actually start putting the cash to work.

 

Once and for all, an IOU or an invoice is not going to cover bills, is it? For trucking firms when the income can be great one day and gone the next, it is up to the vehicle drivers to work smartly and to make sure they are leaving themselves with a substantial amount of time and finance to get through the week up until they are handed over once again.

 

So the next period your trucking company is bearing some temporary cash flow troubles and you are shelling out excessive time chasing sluggish paying customers, why not begin looking at utilizing a factoring companies as a method to get your finances and give yourself a more worry-free future in the eyes of your trucking personnel and your bank difference?

 

 

 

 

 

 

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Traditional Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. While these loans are handy they are not available to every business. 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 is 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. 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 offer loans, and you do not go into debt when you get money from a Trucking Factoring company. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but 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 you have set up Trucking Factoring account it continues as long as you wish it too and the amount of money available to you even can grow as your business grows, giving you the ready cash you need to meet your own obligations.

 

What Are The Benefits Of A Trucking Factoring Company Versus A Traditional Bank Loan?

 

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

 

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

 

2. There's no collateral required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This 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. With a Trucking Factoring company you can actually get the money you need faster. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.Interest is Paid Up Front. 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 do not have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

As you can see 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 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 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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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