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New Factoring Program Leaves Your Company Rolling in Profits - Our Accounts Receivable Factoring Company Can Provide
Your Truck Company The Cash Your Company Needs

factorinvoices.org

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Invoice Factoring is beneficial for numerous reasons. It permits a truck firm to raise money without getting brand-new financial obligation. While debt is often needed, a lot of trucking firms would prefer to raise cash without borrowing money. Debt is high-risk, and when it cannot be repaid, possessions can be repossessed. If the financial obligation is big enough, it may even force a freight brokerage out of business.

 

 

 

 

 

 

 

Great New Discovery Kills Cash Flow Problems Quick! - Select An Invoice Factoring Company Instead Of A Typical Bank Funding

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

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

Money flow does not have to be a problem any ever more. Do not be deceived -- banks are not the only places you can get financing. Other solutions are available and you do not have to borrow. What is trucking factoring ? One option is called trucking factoring. Trucking Factoring is the process of selling accounts receivable to a financier instead of waiting to collect the cash from the client. Oh, the Irony- Trucking factoring has an ironic difference: It is the financial backbone of many of America's most successful companies. Why is this ironic ? Because trucking factoring is not taught in business colleges, is seldom discussed in business strategies and is fairly unknown to the majority of most of American company people.

Yet it is a financial process that releases up billions of dollars every year, enabling thousands of businesses to grow and prosper. Commercial Factoring has been around for countless years. Staffing Factoring Companies are investors who pay cash for the right to get the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your client has actually agreed pay in the near future. Factoring Principals--Although factoring deals solely with business-to-business deals, a big percentage of the retail company utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail transactions. Using the purest definition of the word, these big consumer finance business are truly simply big Staffing Factoring Businesses of customer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The shop gets paid almost immediately, even though you do not pay up until you are prepared.

For this service, the credit card business charges Sears a charge (typical common normal fees vary from 2 to four percent of the sale). The Advantages Staffing Factoring can provide many benefits to cash-hungry companies. Rather than wait 30, 60, 90 days or longer for payment on an item that has currently been provided, a company can factor (sell) its receivables for cash at a small discount off the dollar value of the invoice. Payroll, marketing efforts, and working capital are simply a few of the company requirements that can be met with instant  cash.

Invoice Factoring provides the means for a producer to replenish stock and make even more products to offer: There is no longer a requirement to wait for earlier sales to be paid. Receivable Loan Financing is not simply a cash management tool for producers: Practically any kind business can take advantage of Staffing Factoring. Typically, a company 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 exactly how much is tied up in 60 days' worth of invoices: You can not pay the power bill or today s payroll with a client s invoice, however you can offer that invoice for the money to meet those responsibilities. Using trucking factoring companies is a fast and easy process. The factor purchases the invoice at a price cut, usually a couple of percentage points less than the face value of the invoice.

 

 

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chandler-factoring-companies

 

The U.s. Transportation Association
mentions that there are about
195,000 work with freight trucking
firms and
300,000 private service providers trucking
companies licensed to
operate in the United States that carried,
according to their most current data of millions
products, supplies and
fundamental materials .
There are numerous usual
providers either going solo or in
teams on our country
roads carrying these
important items to our
stores, manufacturingplants and shipping ports.

And freight bill factoring
corporations help
numerous of them and offer their
receivables financing services
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

 

"

Chandler is a city in Maricopa County, Arizona, United States, and is a prominent suburb of the Phoenix, Arizona, Metropolitan Statistical Area (MSA). It is bordered to the north and west by Tempe, to the north by Mesa, to the west by Phoenix, to the south by the Gila River Indian Community, and to the east by Gilbert. As of July 2012, the population was 240,101 according to the United States Census Bureau, however, according to the city's official website, Chandler's Planning Division estimated the population as of September 2012 being 239,610. It also has satellite locations for many technology companies,.Computer chip manufacturer Intel has an iuential role in city growth strategies with four locations in the municipal area, including its first factory to be designated ""environmentally sustainable"" under current Leadership in Energy and Environmental Design (LEED) criteria. Other high-technology manufacturing firms have partnerships with the local government, their operations employing approximately twenty-five percent of non-government workers in 2007. Although per capita employment growth in the sector has been in decline in Arizona since 2000, semiconductor and other electronic component manufacturing was largely unaffected; a series of customized grants for the training of net new employees, incorporating the Phoenix urbanized area (twenty-seven thousand workers now commute to work in other communities), resulted in a larger market share of (Californian) industry.Since 2003, more than 2,900 jobs and investments totalling $3 billion have been created along the Price and Santan freeways, between Arizona Avenue and Gilbert Road in the so-called South Arizona Avenue Corridor. Three shopping malls provide a ""strong attraction"" to such an open-ended, high exposure trade area: the 1,300,000-square-foot (120,000 m2) Chandler Fashion Center, opened in 2001, has spurred on several courts and laneway developments. In the southern end of the Corridor, - is expected to draw business from as far south as the Hunt Highway, bringing with it a ""large consumer population"" which will improve ""the image and perception of the area"" in the mindset of many Greater Phoenix residents and state commercial retailers. The northern portion is ""attractive and possesses the historic character"" for success, which ""can be grown to the south"".

 

"

 

Watch Our Factoring YouTube Videos For More Information

 

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

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

 

Life of a Truck driver, like many other professionals can be very challenging, rewarding, and frustrating at the same time. �The 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

 

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

 

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

 

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

 

Life of a Truck driver, like many other professionals can be very challenging, rewarding, and frustrating at the same time. �The 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

 

 

"

Morgan 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 boom times from 2002 to 2007 Morgan Truck & Haul was the mastermind of a top-rated accounts receivable in 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 Morgan 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, Terry Hill, CEO of Morgan felt a chill go down his spine whenever he would look at the weekly A/R reports. There was a growing list of clients who now owed them back debt.He had gone to his administrators and asked them what the problem had been. Were they doing something wrong or different when it came to reaching out to delinquent 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 Morgan money had jumped ship and decided to leave him holding the bag.

 

. They could not 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 Morgan hadn't gone elsewhere. They had just gone home.This current state-of-affairs was causing Terry Hill to have some very restless nights. Terry was very concerned, because there were constant overheads, goods to ship, employees to pay, and trucks which needed to be maintained, but there just wasn't the money coming back into the business. At night he would speak to his wife Evelyn and shake his head in frustration.

 

""I have a bad feeling, Lin,"" he would say with deep woe.""Well, what do you think it is?"" she would ask.Terry would stare off into the distance, and then slowly close his eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them traveling, bringing goods to all of his clients. But 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 Terry. ""For way too long I've been relying solely on profits received from invoices. I've let too many of our customers go too long without paying on their bills."" Evelyn 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'.""Evelyn was trying so hard to support her husband in these worrying times, while Terry was weighed down with the worry of how he was going to handle this situation he found himself in.The following day Terry walked into his office with a spring in his step, determined to call each and every client who owed money to Morgan Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Terry 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 Terry was realising just how much trouble he was in.After a half day of contacting debtors in vain - they dodged his calls or promised to call back at worst or made minimal interest-only payments at best - he was about to throw in the towel when his secretary Normaerley knocked at his door.

 

""Can I have a word with you Terry?"" she queried, standing in the doorway.

 

""Of course Norma, please come in."" Terry relaxed back into his chair and looked up at Normaerley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Terry."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard the word factoring?"" Normaerley asked.""It sounds vaguely familiar. What is factoring""? he asked.""Well,"" she began, ""It�s actually quite simple really.

 

Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Immediately?"" Terry interrupted.""Yes, immediately,"" she continued, ""In a nutshell, it is pretty easy. We start by having a professional account manager review our figures and help us set up a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It�s a broad view.""Terry replied cautiously ""I see - and what happens then?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. There�s a lot of flexibility depending on the business volume and credit histories. This company tells us what the cost will be to purchase factoring for our accounts receivable. The funding commences once we�ve arrived at an agreement.�Terry was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Norma,"" he said.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Terry: they've guaranteed that experts will do all the paperwork, and that will free us up to do what we should be doing - focusing on our customers in good standing, and that kind of stuff. And they're flexible Terry,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" asked Terry.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. Apparently they can figure this all out in two to four days.

 

""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" Terry said.He took a deep breath and looked at his secretary with something she recognized as hope.""Exactly�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Terry took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Morgan Truck & Haul were professional resources of the company, but they were also long-standing friends. Just because they were experiencing difficulties paying their own bills now, Terry was very concerned about losing these relationships. Terry 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. Of course he did not want to lose any more money, but he did not want to lose business either.""Let me go over this tonight Norma, and thankyou."" Norma nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Terry keep the shirt on his back, and possibly hers too.Terry 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 Morgan Truck & Haul with? With his pencil gliding down the sheet he noticed that the factoring company could help fray the cost of fuel with fuel discount cards and fuel advances. Terry 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 Darrell about this,"" muttered Terry to himself.Darrell is Terry's son-in-law, and he really admired the ideas behind Morgan, so much so that only two years before he had started his own transportation service business. Terry knew then what struggles Darrell would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Morgan was struggling then the little guys, like Darrell, were going to be in even more trouble. But, an antidote may have been found in freight factoring and Terry 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, Terry found himself beginning to dig his way out of the hole his delinquent account holders had created for him.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They used that time to refocus their efforts in being competitive in new territories. Terry looked back on the dismal months of life before freight factoring and almost shuddered at the thought. If Terry hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

"

Chandler is a city in Maricopa County, Arizona, United States, and is a prominent suburb of the Phoenix, Arizona, Metropolitan Statistical Area (MSA). It is bordered to the north and west by Tempe, to the north by Mesa, to the west by Phoenix, to the south by the Gila River Indian Community, and to the east by Gilbert. As of July 2012, the population was 240,101 according to the United States Census Bureau, however, according to the city's official website, Chandler's Planning Division estimated the population as of September 2012 being 239,610. It also has satellite locations for many technology companies,.Computer chip manufacturer Intel has an iuential role in city growth strategies with four locations in the municipal area, including its first factory to be designated ""environmentally sustainable"" under current Leadership in Energy and Environmental Design (LEED) criteria. Other high-technology manufacturing firms have partnerships with the local government, their operations employing approximately twenty-five percent of non-government workers in 2007. Although per capita employment growth in the sector has been in decline in Arizona since 2000, semiconductor and other electronic component manufacturing was largely unaffected; a series of customized grants for the training of net new employees, incorporating the Phoenix urbanized area (twenty-seven thousand workers now commute to work in other communities), resulted in a larger market share of (Californian) industry.Since 2003, more than 2,900 jobs and investments totalling $3 billion have been created along the Price and Santan freeways, between Arizona Avenue and Gilbert Road in the so-called South Arizona Avenue Corridor. Three shopping malls provide a ""strong attraction"" to such an open-ended, high exposure trade area: the 1,300,000-square-foot (120,000 m2) Chandler Fashion Center, opened in 2001, has spurred on several courts and laneway developments. In the southern end of the Corridor, - is expected to draw business from as far south as the Hunt Highway, bringing with it a ""large consumer population"" which will improve ""the image and perception of the area"" in the mindset of many Greater Phoenix residents and state commercial retailers. The northern portion is ""attractive and possesses the historic character"" for success, which ""can be grown to the south"".

 

"

 

More Trucking Factoring Companies Story Articles

"

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

 

More than forty years ago Patrick's father had started this business working as an owner-operator and eventually growing Perez Trucking Company into a fifteen trailer fleet. There had been some hard times when it seemed everything was going to go under and even Patrick�s mother strapped herself into a cab to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. But now things were different: the company was in Patrick's hands and he needed to ensure that this business would be left in great shape for his sons.

 

To move Perez Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. His employees needed to be paid. They all have families and the usual household bills. 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, Perez Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Patrick 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?� 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.

 

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

 

But was factoring the answer? There was a lot he didn�t understand about the process. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. Without 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 Patrick to do his homework. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. 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 colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. 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. 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. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. Many companies offered a non-recourse factoring program that suited him just fine. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It sounded like a great scheme to him.

 

For Patrick it was quite a relief to be dealing with the factoring company. 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 were not interested in his credit nor the financial problems his father had experienced in the past. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Patrick because he and his father had created a very strong and loyal list of clientele over the years. So he knew they would understand when the factoring company contacted them for the invoices. His clients would not have any problems, nor would they think poorly of Perez 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, Patrick 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 Perez Trucking Company and who knows, move into Canada, which had always been his dream. His heart felt full knowing his sons wouldn�t have to worry about money because of the right decisions he had made for their trucking business.

 

"

 

 

Watch Our Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So, this is not a loan?� Hugh Washington asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Hugh smiled at him, shaking her head.�Not quite,� she said.Hugh Washington 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 Raul. He named his business Gonzalez Trucking, named after Milton and Troy, his two grandfathers. They had both been hardworking men, and had done a lot to make Hugh the same.Six months ago disaster struck Raul'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. The financial security of Raul's company relied on his full fleet on fifteen being on the road, and missing two trucks was just 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. 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.Hugh was an excellent business man, and he certainly hadn't done anything wrong. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.That�s where the woman across the desk came in. Hugh knew she was employed by a Factoring company and that her name was Rhonda. Hugh had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.Rhonda explained. �It�s not a loan, we purchase your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. This is a win-win situation: we are protected from a total loss, and you're protected from the ridiculous fees and charges you'd have to pay if you borrowed from a bank.Hugh agreed. It sounded good to him, almost too good.The woman laughed. �You look like you don�t believe me,� she chuckled.�No, I do, I just think it sounds a bit too good to be true. I thought I was going to lose my company.�Rhonda 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. We all need help sometimes. That�s what we�re here for.""In any case, thank you for coming to see me.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� Rhonda said with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Hugh filled the form out, with Rhonda available to help him if he needed it. The profile filled Rhonda and her company in on Raul�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 Hugh filled out his form, Rhonda was pretty sure he was a perfect candidate for factoring.Rhonda took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Raul�s hand. He also stood up, and they smiled at each other. Hugh walked Rhonda 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 Rhonda though, learning about factoring, it felt like a weight had been lifted from his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.The long nights, where he couldn�t sleep. The sudden panic attacks, not matter where he was. He could feel it all fading away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.His mind wandered back to the very beginning, when he first started his business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been successful. Home cooking in his hometown, and he had done very well.But it wasn't what he really wanted to do. His passion didn�t lie with the food industry. He thought long and hard, and then he decided to sell the restaurant. He took half a year off, and in that time he thought to start Gonzalez Trucking. So he did it. Once again he built 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 didn�t think he had it in him, to save this company. But he couldn�t give up. 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 would not have to - all because of Factoring. Hugh opened his eyes, sat forward, turned his computer on. He had lots to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

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More Trucking Factoring Company Story Articles

The reason why Truck Establishments Make use of Factoring Firms.

 

As the operator of your own company, you may likely be much more than knowledgeable already of the difficulty in making sure that capital issues do not become a predicament down the line. After all, the toughest thing that can in all probability come about for your firm is to find yourself involved in a long and hard situation that leaves you forever looking for the resources you really need on an on-going manner.

 

For pretty much any enterprise in this predicament, the trouble can come for waiting for work to clear up and actually be compensated into your bank account. Invoices, checks, and the like can take some time to actually to beprocessed which could leave you with temporary capital troubles. Luckily, there are approaches out there for establishments to investigate-- and among these is factoring firms.

 

Factoring firms will, in trade for your bill of sales, grant you with the cash right away so you do not need to fret about the lingering time frame that could make paying the expenses and getting materialsmore complicated. With this type of arrangement, invoice factoring can end up being tremendously valuable for various businesses who have to get out of a money lure which they have gotten themselves in.

 

Due to the fact that, relying on the scale of the work, it can take up to 60 days for several companies to get paid out then it is significant to cover your own back and definitely not leave yourself resources short to pay off the monthly bills. After all, how many firms possess two months earnings just lying there to address all their expenditures until they make money?

 

This is especially true of trucking firms. They have the tendency to manage lots of accounts which means a considerable quantity of collection time concerns business owner themselves. Striving to get paid off promptly can become an extraordinary trouble and this is the key reasons why you employ truck factoring companies who are pleased to help out truckers primarily.

 

As all of us determine, trucking is an incredibly big market with countless agencies out there handling hundreds of operators. Regrettably, many of these drivers land up in money difficulties simply because they are still waiting for work from six weeks earlier to actually pay them. When this is the circumstance for a trucking business, consulting factoring firms for solutions maybe the ideal choice left.

 

This means that a truck company can pay off the wages of the work force, keep all the cars refilled with gas and continue to surmount, develop and expand without continually waiting for the cash which is taking too lengthy to come in. Trucking Businesses working without a factoring program used are leaving themselves at critical risk, as competitors cash out quickly and go on to grow.

 

There's absolutely very little to be worried about when it comes to employing a Factoring agency-- they are not like a banking company or an individual who is going to leave you with a significant stockpile of financial debt to pay back. You give them legitimate invoices from job you have already completed , you are only speeding the payment system.

 

In the United states of America, where truck agencies thrive, factoring providers are not considered getting a loan in any capacity. This private arrangement then allows both parties to benefit and experience a convenient future-- it provides the factoring agency a guaranteed resource of cash flow to put into the list and it furnishes the trucking company the needed cash that they sweated to obtain.

 

The trucking company gives their invoices to the factoring company. The trucking factoring company then collect the payment amounts from the trucking company's customers. Factoring has been all around for hundreds of years and has been adopted for decades by lots of varying markets-- but none more so than truckers. While you could lose out on a small part of the money, something like 1-3 % depending upon who you work with, it signifies that you are getting the funds today and can actually begin setting the money to perform.

 

After all, an IOU or an invoice is not going to finance overheads, is it? For trucking establishments when the hard earned cash can be excellent one day and gone the next, it is up to the drivers to work prudently and to make sure they are leaving themselves with a notable quantity of time and money to get through the week until they are compensated once more.

 

So the next occasion your trucking company is having some momentary cash flow issues and you are putting in an excessive amount of time chasing inactive paying customers, why not begin thinking about employing a factoring businesses as a manner to get your money and give yourself a more pleasant future in the eyes of your trucking workers and your bank balance?

 

 

 

 

 

 

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Bank Loans

 

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

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies 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. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to sell. Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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

 

1. You will not Incur Debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

2. No Collateral Required. Another great benefit of using the services of a Trucking Factoring company instead of a bank loan is that there is no collateral required for the Trucking Factoring company, because the Trucking Factoring company is buying your accounts receivables. 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. With a Trucking Factoring company you can actually get the money you need faster. 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 do not have to worry about monthly loan repayments, and you do not have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The 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. 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.While a Trucking Factoring company is not the only way for your business to obtain the money it needs to keep growing, it does offer a type of financing well worth considering.

 

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