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

smallbusinessfactoring.org

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Medium-Size trucking businesses, especially those who have actually not been in existence for very long, will typically find it tough to secure a loan. Banks are often reluctant to lend cash to companies that do not have a great deal of income and assets. They also want proof of the practicality of a business and therefore need that the majority of operations, particularly little ones, been around for a specific amount of time prior to they are ready to hand over any cash. Due to the fact that of this, a medium-size company typically has few money producing choices when requires arise. One alternative available, however often neglected, is factoring. This is an outstanding way for a small company to acquire cash.

 

 

 

 

 

 

 

Will You Help me Get Money? - Select A Receivable Loan C0mpany Instead Of A Traditional Bank Financing

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

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

Money flow does not have to be a problem any more. Do not be fooled -- banks are not the only locations you can get financing. Other solutions are offered and you do not have to borrow money. What is truck factoring ? One solution is called truck factoring. Trucking Factoring is the procedure of offering accounts receivable to an investor instead of waiting to collect the money from the client. Oh, the Irony- Trucking factoring has an ironic distinction: It is the monetary backbone of many of America's most successful businesses. Why is this ironic ? Since staffing factoring is not taught in business colleges, is seldom mentioned in company plans and is relatively unidentified to the majority of most of American business people.

Yet it is a monetary procedure that frees billions of dollars every year, enabling thousands of businesses to grow and prosper. Receivable Loan Funding has been around for countless years. Trucking Factoring Companies are investors who pay money for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a debt your customer has agreed pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business transactions, a large percentage of the retail business uses a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail deals. Using the purest definition of the word, these big consumer finance business are really simply big Receivable Funding Companies of consumer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The shop gets paid practically immediately, although you do not make payment until you are prepared.

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

Factoring offers the means for a manufacturer to replenish stock and make more items to sell: There is no longer a need to wait for earlier sales to be paid. Receivable Loan Financing is not simply a cash management tool for producers: Almost any type business can benefit from Receivable Financing. Generally, a business that extends credit will have 10 to 20 percent of its annual sales bound in accounts receivable at any given time. Think for a minute about exactly how much is tied up in 60 days' worth of invoices: You can not pay the power expense or this week s payroll with a client s invoice, but you can sell that invoice for the cash to meet those obligations. Using trucking factoring companies is a quick and easy procedure. The factor purchases the invoice at a discount, typically a couple of portion points less than the face value of the invoice.

 

 

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The United states Transportation Organization
specifies that there are about
200,000 truck drivers with freight trucking
companies and
250,000 personal service providers trucking
firms certified to
operate in the States that carried,
according to their latest data of millions
items, materials and
fundamental products .
There are several common
carriers either going solo or in
teams on our nation
roads carrying these
crucial products to our
stores, manufacturing facilities and harbors.

Also freight invoice factoring
corporations service
numerous of them and offer their
accounts receivablesfinancing facilities
countrywidecounting
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

 

The City of Chicago covers an area of 60,000 hectares and sits 176 meters (578 feet) above sea level on the southwestern shore of Lake Michigan. At 190 km wide and 495 km long, its the 5th largest body of fresh water in the world. The city is traversed by the Chicago and Calumet rivers. Chicago's extensive parklands, including 3,000 hectares of city parks attract an estimated 86 million visitors annually.As a multicultural city that thrives on the harmony and diversity of its neighborhoods, Chicago today embodies the values of America's heartland-integrity, hard work and community and reflects the ideals in the social fabric of its 77 distinct neighborhoods.Chicago is recognized across the United States as a very passionate sports town.Chicago is a leader in reforming public schools, enhancing public safety and security initiatives, providing afable housing in attractive and economically sound communities, ensuring accessibility for all and fostering, social, economic and environmental sustainability.Chicago is the largest city in Illinois and the seat of Cook County. It stretches for 22 mi along the southwest shore of Lake Michigan in the northeast part of the state.The first white men known to have visited the region were Louis Joliet and Jacques Marquette in 1673. The first permanent white settler was John Kinzie, who is sometimes called the Father of Chicago. He took over a trading post in 1796 that had been established in 1791 by Jean-Baptiste Point du Sable, a black fur trapper. Fort Dearborn, a blockhouse and stockade, was built in 1804 but was evacuated in 1812, at which time more than half of its garrison was massacred by Potawatomi and Ottawa Indians loyal to the British. The name Chicago is thought to come from an Algonquian word meaning �onion� or �skunk.�Laid out in 1830, Chicago was incorporated as a village in 1833 and as a city in 1837. In the Great Chicago Fire of 1871, an area of the city about 4 mi long and nearly a mile wide�more than two thousand acres�was totally destroyed. However, much of the city, including the railroads and stockyards, survived intact, and from the ashes of the old wooden structures there arose more modern constructions in steel and stone.Today, Chicago is a major Great Lakes port and the commercial, financial, industrial, and cultural center of the Midwest. The manufacturing industries dominate the wholesale and retail trade, and trade in agricultural commodities is important to the economy. The Chicago Board of Trade is the largest agricultural futures market in the world.Among Chicago's many attractions are the Art Institute of Chicago, the Field Museum of Natural History, the Jane Addams�Hull House Museum, Navy Pier, and numerous architectural landmarks such as the Sears Tower and Frank Lloyd Wright's Robie House.

 

 

View Our Trucking Factoring Companies YouTube Videos For More Information

 

Oilfield services Receivables Financing company Calculator
This calculator will show you how much you will make by using our Oilfield services Receivables Financing company . But, as your about todiscover, youwill certainly notice the increased cash flow that will occur when you use our Oilfield services Receivables Financing company
Enter the principal balance of your Oilfield services Receivables Financing company
(call your Oilfield services Receivables Financing company lender and ask for the current payoff amount):
Enter the amount of your monthly Oilfield services Receivables Financing company payment:
(invoice amount):
Enter the your Oilfield services Receivables Financing company'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 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 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

 

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

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

 

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

 

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

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

 

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

 

 

"

Boyd Truck & Haul have been operating their business since the mid 1980s. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the heady times from 2002 to 2007, Boyd was a top rated accounts receivable mastermind of the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. Times were great for everyone, and the cash was flowing.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

 

. And worse yet, Boyd had noticed during the early part of 2008 that though the bulk of their clients were always on time with payments, the few late-bloomers there were, had seemingly started to spread this illness. Spring changed to summer, summer changed to fall, and the CEO of Boyd, Edwin Robertson, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. There was a growing list of clients who now owed them back debt.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. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. They could not afford to pay him their debt, but they could afford a lesser service, maybe. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Boyd hadn't gone elsewhere. They had just gone home.The situation looked dire to Edwin Robertson. Edwin 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 Emma and shake his head in frustration.

 

""Lin, I have a really bad feeling,"" he would say with deep woe.""What could you do differently?"" she would ask.Edwin 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 on earth was happening to create the death of his business?""I know what it is,"" said Edwin. ""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."" Emma 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'.""Emma was trying so hard to support her husband in these worrying times, while Edwin was weighed down with the worry of how he was going to handle this situation he found himself in.The following day Edwin walked into his office with a spring in his step, determined to call each and every client who owed money to Boyd Truck & Haul. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. 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, Edwin knew that he was in trouble.

 

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

 

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

 

""Sure thing Cindy, come on in."" Edwin leaned back in his chair and looked expectantly at Cindyerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Edwin."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard the word factoring?"" Cindyerley asked.""It does sound vaguely familiar. What is it?"" he said.She began, ""Well, it is really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Immediately?"" Edwin interrupted.""Yes, immediately,"" she continued, ""In a nutshell, it is pretty easy. We can have an expert account manager review our numbers and help us complete a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It provides a very broad view.""Edwin replied cautiously ""I see - and what happens then?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. There�s a lot of flexibility depending on the business volume and credit histories. The company will advise us the cost to purchase factoring for our company's accounts receivable. We come to an agreement and the funding starts pouring out.�Leaning forward, Edwin studied the documents very closely.""I do not know, Cindy - it just sounds too good to be true"", Edwin said quietly.""Now, now, I know, I thought the same thing. But think about it, Edwin: 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, Edwin,"" she drew a circle around a paragraph on the document before him.""How flexible?"" he asked.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. Apparently they can figure this all out in two to four days.

 

""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" Edwin said.He took a deep breath and looked at his secretary with something she recognized as hope.""Exactly�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Edwin took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Boyd Truck & Haul were professional resources of the company, but they were also long-standing friends. They did not want to throw away these relationships because they were having trouble paying their bills now. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. That unknown amount of time could create a disaster situation for both of them if he wasn't careful in how these debtors were handled. Of course he did not want to lose any more money, but he did not want to lose business either.""Well, let me think about this tonight Cindy, thank you."" Cindy nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Edwin keep the shirt on his back, and possibly hers too.Edwin stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. What other issues could freight factoring help Boyd 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. Edwin 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.""I must tell Ernest the good news,"" muttered Edwin to himself.His son-in-law Ernest had liked the idea of Boyd so much and revered his father in law for having such business acumen that only two years before, he had gathered the venture capital to begin his own transportation service company. Edwin knew then what struggles Ernest would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Boyd was struggling then the little guys, like Ernest, were going to be in even more trouble.

 

Perhaps the antidote to these problems was in freight factoring, and they were about to find out.Some months later, having successfully gone through the entire process of the application, having experts study his credit history and statements and review his accounts receivable, Edwin found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.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. Edwin looked back on the dismal months of life before freight factoring and almost shuddered at the thought. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

The City of Chicago covers an area of 60,000 hectares and sits 176 meters (578 feet) above sea level on the southwestern shore of Lake Michigan. At 190 km wide and 495 km long, its the 5th largest body of fresh water in the world. The city is traversed by the Chicago and Calumet rivers. Chicago's extensive parklands, including 3,000 hectares of city parks attract an estimated 86 million visitors annually.As a multicultural city that thrives on the harmony and diversity of its neighborhoods, Chicago today embodies the values of America's heartland-integrity, hard work and community and reflects the ideals in the social fabric of its 77 distinct neighborhoods.Chicago is recognized across the United States as a very passionate sports town.Chicago is a leader in reforming public schools, enhancing public safety and security initiatives, providing afable housing in attractive and economically sound communities, ensuring accessibility for all and fostering, social, economic and environmental sustainability.Chicago is the largest city in Illinois and the seat of Cook County. It stretches for 22 mi along the southwest shore of Lake Michigan in the northeast part of the state.The first white men known to have visited the region were Louis Joliet and Jacques Marquette in 1673. The first permanent white settler was John Kinzie, who is sometimes called the Father of Chicago. He took over a trading post in 1796 that had been established in 1791 by Jean-Baptiste Point du Sable, a black fur trapper. Fort Dearborn, a blockhouse and stockade, was built in 1804 but was evacuated in 1812, at which time more than half of its garrison was massacred by Potawatomi and Ottawa Indians loyal to the British. The name Chicago is thought to come from an Algonquian word meaning �onion� or �skunk.�Laid out in 1830, Chicago was incorporated as a village in 1833 and as a city in 1837. In the Great Chicago Fire of 1871, an area of the city about 4 mi long and nearly a mile wide�more than two thousand acres�was totally destroyed. However, much of the city, including the railroads and stockyards, survived intact, and from the ashes of the old wooden structures there arose more modern constructions in steel and stone.Today, Chicago is a major Great Lakes port and the commercial, financial, industrial, and cultural center of the Midwest. The manufacturing industries dominate the wholesale and retail trade, and trade in agricultural commodities is important to the economy. The Chicago Board of Trade is the largest agricultural futures market in the world.Among Chicago's many attractions are the Art Institute of Chicago, the Field Museum of Natural History, the Jane Addams�Hull House Museum, Navy Pier, and numerous architectural landmarks such as the Sears Tower and Frank Lloyd Wright's Robie House.

 

 

More Trucking Factoring Companies Story Articles

"

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

 

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

 

To move Webb 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 had families and household bills too. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. Every time he had to turn down a request, Webb Trucking looked weak in a very strong market.

 

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

 

Alfred believed a successful man is always thinking of his next step. How would he take Webb Trucking to the next level? 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? If he was being honest, he did not really understand how it all worked. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Alfred had to really consider what his next step was going to be. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

But it turned out to be quite easy. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. 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. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. He was more than happy with the figures he was offered in percentage terms on the freight bills. It was good money.

 

For Alfred it was quite a relief to be dealing with the factoring company. They were more personable than those loan managers at the bank. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar for a handout. The factoring companies were not interested in his credit nor the financial problems his father had experienced in the past. Factoring was based on the credit of his customers and on their reliability which worked well for Alfred because he and his father had built up good strong relationships over decades with their list of clients. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients would not have any problems, nor would they think poorly of Webb 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.

 

Alfred stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. 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 Webb Trucking Company and who knows, move into Canada, which had always been his dream. His heart felt full knowing his sons wouldn�t have to worry about money because of the right decisions he had made for their trucking business.

 

"

 

 

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Trucking Factoring  Articles

"

�So It is not a loan?� asked Ernest Boyd, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she stated.Ernest Boyd 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 Martin. His company was called Robertson Trucking, named after both of his grandfathers, Troy and Norman. Both of these men had been very hardworking and had set a great example for Martin.Disaster had struck half a year ago, when two trucks in Martin�s fifteen truck fleet went down. One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. The financial security of Martin'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. Waiting a month or longer for bills to be paid was quite normal. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Ernest was an excellent business man, and he certainly hadn't done anything wrong. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.That�s where the woman across the desk came in. Ernest knew she was employed by a Factoring company and that her name was Deanna. He had accidentally come across her company one night when he was working late, searching the internet to see if there was some solution to his financial dilemma.She sat there now, and 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.Ernest agreed. It sounded good to him, almost too good.Deanna laughed. �You look like you don�t believe me,� she chuckled.�Oh no, I do: it just sounds too good to be true. I actually thought I might end up losing my business.�Deanna smiled, agreeing. �Yes, we get a lot of that. Listen, I�d hate to see you lose your company. We know how hard you work, and that you've invested everything in your business. We all need help sometimes. That's why we do what we do.""In any case, thank you for coming to see me.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Deanna with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.

 

Ernest filled the form out, with Deanna available to help him if he needed it. The completed profile gave Deanna and her company all the information they needed on Martin's business, and with this information they would determine if this business would in fact be 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. As Ernest completed his form, Deanna listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Deanna took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Martin�s hand. He also stood up, and they smiled at each other. Ernest walked Deanna 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 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. But now, after speaking to Deanna and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.The long nights, where he couldn�t sleep. The sudden panic attacks, not matter where he was. 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.His mind wandered back to the very beginning, when he first started his business. At twenty-two and straight out of school he had opened a restaurant. It had been successful. Offering home cooking in his own hometown, his business had really prospered.But it wasn't what he really wanted to do. He wasn't passionate about the food industry. He thought 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 Robertson Trucking. And that's exactly what he did. 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 he couldn�t give up. Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He did not want to quit - both for himself and for his staff members.And now, because of factoring, he was sure he wouldn�t have to. Martin's eyes opened, he sat forward in his chair and turned on his computer. He had things to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

Reasons why Truck Corporations Use Factoring Firms.

 

As the manager of your own business, you may perhaps be more than mindful already of the challenge in making certain that cash flow concerns do not become a predicament down the line. After all, the most terrible thing that can potentially develop for your enterprise is to find yourself dragged in a long and challenging situation that leaves you forever searching for the finances you are in need of on an continual basis.

 

For pretty much any enterprise in this position, the dilemma can come for waiting for work to clear up and actually be paid into your account. Invoices, checks, and the like could take some time to actually to beprocessed which can certainly leave you with short-term cash flow problems. Luckily, there are alternatives out there for enterprises to explore-- and just one of these is factoring providers.

 

Factoring companies will, in exchange for your statements, offer you with the money immediately so that you do not need to fret about the waiting time span that could make paying the bills and acquiring materialsmore hard. With this type of setup, invoice factoring can come to be exceptionally valuable for various firms who ought to avoid a money lure which they have gotten themselves in.

 

For the reason that, basing on the volume of the project, it can take up to 60 days for many business enterprises to get compensated then it is important to cover up your own back and certainly not leave yourself money short to settle the bills. After all, how many establishments possess two months profits just occupying there to deal with all their spendings until they make money?

 

This is most especially correct of trucking companies. They have the tendency to take care of numbers of invoices which means a huge amount of collection time concerns business owner themselves. Trying to get paid promptly can eventually become an amazing struggle and this is the key reasons why you use truck factoring companies who are thrilled to help out truckers exclusively.

 

As most of us know, trucking is an unbelievably large industry with many agencies out there employing hundreds of operators. The sad thing is, quite a few of these drivers land up in money issues considering that they are still anticipating work from six weeks in the past to actually compensate them. When this is the condition for a truck business, turning to factoring companies for support could be the most effective alternative left.

 

This indicates that a truck business can pay the salaries of the work force, keep all the trucks topped off with fuel and continue to scale, develop and expand without always waiting for the resources which is taking too long to come in. Trucking Firms working without a factoring system put in place are leaving themselves at notable hazard, as contenders cash out promptly and proceed to broaden.

 

There's genuinely not a thing to be distressed about when it comes to using a Factoring company-- they are not like a financial institution or any individual who is going to leave you with a large mound of personal debt to repay. You give them legitimate invoices from output you have already finished , you are simply quickening the payment process.

 

In the United states of America, where truck companies develop, factoring establishments are not considered taking on loan in any capacity. This confidential agreement then allows both parties to make money and indulge in a worry-free future-- it gives the factoring firm a guaranteed resource of cash flow to put into the list and it supplies the trucking firm the required money that they worked hard to generate.

 

The trucking business provides their invoices to the factoring firm. The trucking factoring firm then obtain the installment payments from the trucking company's customers. Factoring has beenaround for centuries and has been adopted for decades by lots of different business sectors-- but none exceeding so than truckers. While you may lose out on a small part of the money, something like 1-3 % depending on who you team up with, it implies that you are getting the cash today and can actually start setting the money to do work.

 

After all, an IOU or an invoice is not actually going to fund costs, is it? For trucking firms when the resources can be fantastic one day and gone the next, it is up to the drivers to work smartly and to ascertain they are leaving themselves with a significant measure of time and money to get through the week till they are handed over again.

 

So the next time your trucking company is enduring some short-term cash flow problems and you are putting in too much time chasing slow paying customers, why not start taking into consideration employing a factoring businesses as a means to get your cash and give yourself a more at ease future in the eyes of your trucking personnel and your bank difference?

 

 

 

 

 

 

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Traditional Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. 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. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Once the loan is paid off, you can then apply for another loan if the need arises.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not offer loans, and you do not go into debt when you get money from a Trucking Factoring company. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. 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 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

 

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

 

1. There is no debt. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. No Collateral Required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This means that it is easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.

 

3. You'll receive the 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. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.You receive interest up-front. 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 do not have to continue to pay interest as they take it right off the top, deducting it from the total amount of accounts receivable. 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 from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

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

 

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