Contact Us Form

or Call Us At 866-593-2195

Email Us

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home page

Free Book Tells You 12 Secrets of Better Cash Flow - Our Receivable Loan Company Can Give
Your Truck Company The Money You Want

olympicfactoring.com

best factoring companies for trucking

factoring for trucking

best trucking factoring

trucking invoice factoring companies

Factoring invoices is beneficial for a number of factors. It permits a truck firm to raise cash without acquiring new debt. While financial obligation is in some cases essential, the majority of trucking firms would prefer to raise money without obtaining cash. Debt is risky, and when it cannot be repaid, assets can be repossessed. If the debt is large enough, it could even force a truck companies out of business.

 

 

 

 

 

 

 

The Instrument of Profitable Companies - Choose A Trucking�Factoring Company  Instead Of A Regular Bank Financing

Exactly how to Enhance Money Flow Without Borrowing -Cash Money flow is among the main reasons businesses fail.

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

Cash flow does not have to be an issue any more. Do not be deceived -- banks are not the only locations you can get financing. Other options are available and you do not have to borrow money. Exactly what is trucking factoring ? One option is called truck factoring. Truck Factoring is the process of offering accounts receivable to a financier instead of waiting to collect the money from the customer. Oh, the Irony- Trucking factoring has a paradoxical distinction: It is the financial foundation of many of America's most successful companies. Why is this ironic ? Because truck factoring is not taught in business colleges, is rarely discussed in business plans and is relatively unknown to the majority of most of American company individuals.

Yet it is a financial process that releases up billions of dollars every year, allowing thousands of businesses to grow and prosper. Truck Factoring has actually been around for countless years. Factoring Companies are financiers who pay cash for the right to receive the future payments on your invoices. An overdue receivable or invoice has value. It is a debt your customer has actually to pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business transactions, a big portion of the retail business uses a factoring principal. MasterCard, Visa, and American Express all utilize a type of factoring in their retail deals. Using the purest definition of the word, these large customer finance companies are really just big Truck Factoring Companies of customer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The store makes money almost instantly, although you do not pay up until you are prepared.

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

Trucking Factoring offers the means for a manufacturer to renew stock and make even more products to offer: There is no longer a requirement to wait for earlier sales to be paid. FACTORING is not just a cash management tool for manufacturers: Almost any kind company can take advantage of Receivable Loan Financing. Typically, a business that extends credit will have 10 to 20 percent of its yearly sales bound in accounts receivable at any given time. Think for a moment about exactly how much is tied up in 60 days' worth of invoices: You can not pay the power expense or today s payroll with a client s invoice, however you can sell that invoice for the money to meet those obligations. Using truck factoring companies is a fast and simple process. The factor buys the invoice at a price cut, typically a couple of percentage points less than the stated value of the invoice.

 

 

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

E-mail Us
or complete the
OnLine
Trucking Factoring Request Kind

 

 

factoring companies

 

The United states Truck Association
states that there around
195,000 workers with freight trucking
firms and
276,000 private companies trucking
firms accredited to
run in the States that carried,
according to their latest data of millions
products, supplies and
standard materials .
There are several common
carriers either going solo or in
teams on our country
roadways carrying these
vital products to our
stores, manufacturingplants and shipping ports.

Furthermore truck factoring
businesses support
numerous of them and offer their
factoring facilities
nationwidecounting
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

 

"

 

 

"

 

View Our Trucking Factoring Companies YouTube Videos For More Information

 

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

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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.

 

Click below to find Trucking Companies in the United States:

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

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

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

 

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

 

 

"

Tucker Truck and Haul has been in 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, Tucker 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.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed to a crawl

 

. Worse still, it was noticed by Tucker in early 2008 that even though most of their loyal customers were on time with their payments, there were a few late bloomers who were starting to spread the disease. Spring changed to summer, summer changed to fall, and the CEO of Tucker, Bradley Hoffman, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The numbers of clients who owed him back debt were growing.He had already been to the administrators to ask what the actual problem was. Were they doing things different, or wrong, when it came to collecting overdue accounts? By his bookkeepers records, this wasn't the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Tucker money had jumped ship and decided to leave him holding the bag.

 

. They couldn't afford to pay him their debt, but they could afford a lesser service, maybe. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. The had just gone!.This current state-of-affairs was causing Bradley Hoffman to have some very restless nights. Bradley 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. In the evenings he would discuss his concerns with his wife, Marjorie, and still find no relief from the worry and frustration.

 

""Lin, I have a really bad feeling,"" he would say with deep woe.""What could you do differently?"" she would ask.Bradley would stare off for a moment and then close eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them on the road, delivering good to all his loyal customers. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. Why couldn�t he work out how to resolve this financial problem with his business?""I know what it is,"" Bradley said. ""I've relied too long on the profits I receive from invoices alone. For too long I've been allowing our clients to let their accounts become overdue."" All Marjorie could do was hold his hand and look at him tenderly. 'We know it's a difficult economy at the moment - perhaps it will take a while for people to get on top of their bills'.""Marjorie was trying so hard to support her husband in these worrying times, while Bradley was weighed down with the worry of how he was going to handle this situation he found himself in.The following day Bradley walked into his office with a spring in his step, determined to call each and every client who owed money to Tucker Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Bradley knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. Wasting money, wasting time - even with the best of intentions, Bradley knew that he was in trouble.

 

Poor Bradley spent the whole morning trying in vain to contact his debtors: they promised to call back, dodged his calls, or made small interest-only payments. He was beginning to feel quite despaired when his secretary knocked on his door.

 

""Bradley, can I have a word?"" she asked standing in the doorway.

 

""Of course Laurie, please come in."" Bradley leaned back in his chair and looked expectantly at Laurieerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Bradley."" 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?"" she asked.""It does sound vaguely familiar. What is it?"" he said.She began, ""Well, it's really very simple. So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Bradley interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""It's actually very simple. We start by having a professional account manager review our figures and help us set up a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It provides a very broad view.��I see,� Bradley said. �And then what?��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. Once we arrive at a mutual agreement, the funding begins.�Bradley leaned forward and reviewed the paperwork closely.""It sounds too good to be true, Laurie,"" he said.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Bradley: 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. They appear to be very flexible, Bradley,"" she underlined a paragraph on the paper before him.""Just how flexible?"" asked Bradley.""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're all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" said Bradley.Bradley took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Precisely�. This could very well be the answer to resolving the problems we're having with these clients who still owe us money.""Bradley 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 Tucker. Just because they were experiencing difficulties paying their own bills now, Bradley was very concerned about losing these relationships. Bradley knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. Of course he didn't want to lose any more money, but he didn't want to lose business either.""Let me go over this tonight Laurie, and thankyou."" Laurie nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Bradley 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 Tucker 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. Bradley was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Bradley was a typical business man: he despised binding contracts that didn't allow room to breathe, so he was pleasantly surprised to see that the factoring company didn't require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""I must tell Derrick the good news,"" muttered Bradley to himself.Derrick is Bradley's son-in-law, and he really admired the ideas behind Tucker, so much so that only two years before he had started his own transportation service business. At that time Bradley knew the struggles Derrick would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Tucker was hurting, a little guy like Derrick was about to catch his death. But, an antidote may have been found in freight factoring and Bradley 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, Bradley 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. Bradley recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. If Bradley hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

"

New York is a vibrant center for commerce and business and one of the three ""world cities"" (along with London and Toyko) that control world finance. Manufacturing�primarily of small but highly diverse types�accounts for a large but declining amount of employment. Clothing and other apparel, such as furs; chemicals; metal products; and processed foods are some of the principal manufactures. The city is also a major center of television broadcasting, book publishing, advertising, and other facets of mass communication. It became a major movie-making site in the 1990s, and it is a preeminent art center, with artists revitalizing many of its neighborhoods. The most celebrated newspapers are the New York Times and the Wall Street Journal. New York attracts many conventions�including the national Democratic (1868, 1924, 1976, 1980, 1992) and Republican (2004) party conventions�and was the site of two World's Fairs (1939�40; 1964�65). It is served by three major airports: John F. Kennedy International Airport and LaGuardia Airport, both in Queens, and Newark International Airport, in New Jersey. Railroads converge upon New York from all points.With its vast cultural and educational resources, famous shops and restaurants, places of entertainment (including the theater district and many off-Broadway theaters), striking and diversified architecture (including the Woolworth Building, Chrysler Building, Empire State Building, Seagram Building, and Gehry's 8 Spruce St.), and parks and botanical gardens, New York draws millions of tourists every year. Some of its streets and neighborhoods have become symbols throughout the nation. Wall Street means finance; Broadway, the theater; Fifth Avenue, fine shopping; Madison Avenue, advertising; and SoHo, art

 

"

 

More Trucking Factoring Companies Story Articles

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

 

Alvin�s father had started as an owner-operator and had grown Matthews Trucking Company into a fifteen trailer fleet over forty years. There had been some hard times when it seemed everything was going to go under and even Alvin�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 Alvin's hands and he needed to ensure that this business would be left in great shape for his sons.

 

To move Matthews Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. He had employees to pay. They all have families and the usual household bills. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. He knew that turning down these requests made Matthews Trucking look inefficient and weak in what was currently a strong market.

 

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

 

Alvin knew he was right in his forward thinking. What would be the next step for Matthews Trucking? More importantly, how could he afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

He wondered about factoring - was this the answer for him? 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. 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 Alvin to do his homework. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

But it turned out to be quite easy. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He didn�t mind signing an exclusive contract. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. 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. He was more than happy with the figures he was offered in percentage terms on the freight bills. It sounded like a great scheme to him.

 

It was really refreshing dealing with the factoring people. They were more personable than those loan managers at the bank. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies didn�t worry over his credit and the debt troubles his father had had in the past of the company. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Alvin 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 wouldn�t think poorly of Matthews Trucking and the factoring companies appeared capable of handling the accounts receivable in the same polite manner that his father had used over the years.

 

Alvin stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. He suddenly realized that, with this new cash flow, he could actually expand Matthews 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 Freight Factoring Companies Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

�So It is not a loan?� Derrick Tucker asked as he leaned back in his chair, crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she said.Derrick Tucker owned a small trucking company, and his business had recently fallen on difficult times. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Alfredo. His company was called Hoffman Trucking, named after both of his grandfathers, Cory and Jorge. They had both been hardworking men, and had done a lot to make Derrick the same.Disaster had struck half a year ago, when two trucks in Alfredo�s fifteen truck fleet went down. One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. Derrick depended on his full fleet, and missing two trucks was devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Derrick had on hand.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. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Derrick was an excellent business man, and he certainly hadn't done anything wrong. Certain events had occurred that he couldn't 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. Derrick knew she was employed by a Factoring company and that her name was Evelyn. Derrick 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.Evelyn explained. �it is really not a loan at all: we actually buy your accounts receivable. We're not giving you finance to be repaid later: we're purchasing something from you, and when you can you can buy it back. 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.Derrick nodded. It sounded perfect - perhaps too good?.Evelyn 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.�Evelyn 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.��Well, I'm very grateful that you came to see me today.��It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Evelyn with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Derrick completed the form, with Evelyn offering advice as needed.

 

The profile filled Evelyn and her company in on Alfredo�s company, and would help them determine if he was suitable for factoring. Unfortunately, not all companies are. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. Listening as Derrick filled out his form, Evelyn was pretty sure he was a perfect candidate for factoring.Evelyn took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Alfredo's hand. He stood before they shook as well, and then smiled. They said their goodbyes and Derrick walked her to the door, and then returned to his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He leaned back and closed his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. Talking to Evelyn 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 terrifying panic attacks that occurred regardless of where he was. Already he could feel all the stress start to drain 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.Derrick couldn�t help but think back to when he had first started the business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been really 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 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 Hoffman 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 about to turn fifty. He didn�t think he had it in him, to save this company. But giving up wasn't part of his personality either.

 

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

 

 

 

 

More Trucking Factoring Company Story Articles

The key reasons why Truck Establishments Make use of Factoring Firms.

 

As the operator of your own establishment, you may likely be more than mindful already of the difficulty in making sure that capital matters do not become a predicament down the line. Anyway, the most terrible thing that can possibly develop for your enterprise is to find yourself swept up in a long and problematic situation that leaves you forever searching for the finances you need on an continual basis.

 

For any sort of enterprise in this case, the dilemma can come for waiting for work to clear up and actually be provided into your account. Bill of sales, checks, and the like can take a long time to actually to be taken care of which can leave you with temporary cash flow dilemmas. The good news is, there are solutions out there for enterprises to investigate-- and among these is factoring providers.

 

Factoring agencies will, in substitution for your bill of sales, offer you with the cash asap to ensure you don't need to stress over the lingering duration that could make paying the expenses and acquiring toolsmore complicated. With this style of setup, invoice factoring can become extraordinarily useful for various enterprises who need to avoid a money trap which they have gotten themselves in.

 

Since, relying on the size of the job, it can take up to 60 days for some enterprises to get compensated then it's necessary to cover up your own back and not leave yourself cash short to pay the bills. After all, how many establishments possess two months revenue just lying there to deal with all their bills until they earn?

 

This is most notably true of truck establishments. They tend to handle great deals of invoices which means a notable volume of collection period demands business owner themselves. Attempting to get paid off in time can end up being an amazing hassle and this is the reason why you work with trucking factoring agencies who are pleased to help out truckers specifically.

 

As we all know, trucking is an remarkably large field with countless organizations out there utilizing hundreds of drivers. However, quite a few of these drivers end up in income issues considering that they are still waiting for work from six weeks ago to actually compensate them. When this is the situation for a trucking business, depending on factoring companies for help maybe the finest option left.

 

This indicates that a trucking firm can pay off the paychecks of the personnel, keep all the cars filled with gas and continue to escalate, develop and expand without constantly waiting for the resources which is taking too lengthy to come in. Trucking Establishments operating without a factoring system put in place are leaving themselves at notable danger, as competitors cash out promptly and go on to grow.

 

There's honestly not much to be distressed about when it comes to using a Factoring business-- they typically aren't like a financial institution or an individual who is going to leave you with a large heap of financial debt to pay back. You give them authentic invoices from output you have already finished , you are just hastening the repayment process.

 

In the Usa, where truck establishments succeed, factoring firms are not considered accepting loan of in any capacity. This confidential deal then lets both groups to benefit and indulge in a worry-free future-- it gives the factoring firm a secured resource of earnings to add to the list and it offers the trucking company the needed finances that they worked hard to earn.

 

The trucking business bestows their invoices to the factoring establishment. The trucking factoring provider then acquire the installment payments from the trucking company's customers. Factoring has been all around for hundreds of years and has been employed for decades by lots of varied business sectors-- but none exceeding so than truckers. While you might possibly miss out on a small part of the money, something like 1-3 % depending upon who you team up with, it implies that you are acquiring the funds today and can actually start off setting the cash to perform.

 

Anyway, an IOU or an invoice is not going to fund bills, is it? For trucking firms when the income can be excellent one day and gone the next, it's up to the vehicle drivers to work sensibly and to guarantee they are leaving themselves with a significant quantity of time and finance to get through the week till they are handed over again.

 

So the next occasion your trucking establishment is having some short-term cash flow challenges and you are devoting a bit too much time chasing sluggish paying clienteles, why not begin thinking about utilizing a factoring businesses as a means to get your money and give yourself a more worry-free future in the eyes of your trucking personnel and your bank balance?

 

 

 

 

 

 

"

Traditional Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. 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's usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Once the loan is paid off, you can then apply for another loan if the need arises.

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. 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 money you can receive is based on the amount of money you have earned and the accounts receivable you are willing 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. There is no debt. Since the Trucking Factoring company actually buys your accounts receivable you don't actually incur debt like you do with a bank loan. This has many benefits including the fact, that this type of financing won't affect either your business credit rating or your personal credit rating. In the event that your business fails, you wouldn't have to be concerned about someone coming after your personal or your business assets in order 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 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. You'll receive the money faster. Using a Trucking Factoring company means that you'll get the finance quicker. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.Interest is Paid Up Front. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you don't have to continue to pay interest as they take it right off the top, deducting it from the total amount of accounts receivable. So not only are you relieved of those monthly loan payments, but you also don't have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

As you can see, 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. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very efficient at debt collecting, and this frees up your valuable time to devote to running your company.

 

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

 

"

 

 

 

 

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

 

 

 

 

 

city sitemap 1

city sitemap 2

city sitemap 3

city sitemap 4

city sitemap 5

city sitemap 6

city sitemap 7

city sitemap 8

city sitemap 9

city sitemap 10

city sitemap 11

city sitemap 12